ADT 2012 Annual Report Download - page 188
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14. Restructuring and Asset Impairment Charges, Net
From time to time, the Company will initiate various restructuring actions which result in employee
severance, facility exit and other restructuring costs, as described below.
The Company initiated multi-year restructuring programs in 2009 (the “2009 Program”) and in 2011 (the
“2011 Program”). Under each of these programs, the Company incurred restructuring and asset impairment
charges (reversals), net. Additionally, during 2012 the Company incurred severance and other restructuring
charges in conjunction with the Separation. These charges are included in selling, general and administrative
expenses, for the fiscal years ended in 2012, 2011 and 2010 and are as follows ($ in millions):
2012 2011 2010
Separation Related Actions
Employee severance and benefits ........................... $ 2 $— $—
Total ............................................. $ 2 $— $—
2011 Program
Employee severance and benefits ........................... $— $ 4 $—
Facility exit and other charges. ............................. 2 3 —
Total ............................................. $ 2 $ 7 $—
2009 Program
Employee severance and benefits ........................... $— $ (8) $ 14
Facility exit and other charges. ............................. — — 4
Total ............................................. $— $ (8) $ 18
Restructuring and asset impairment charges, net, incurred cumulative to date from initiation of the program
are as follows ($ in millions):
Separation
Related
Actions
2011
Program
2009
Program
Employee severance and benefits ................... $ 2 $4 $10
Facility exit and other charges ...................... — 5 4
Total ...................................... $ 2 $9 $14
The rollforward of the reserves from September 30, 2011 to September 28, 2012 is as follows
($ in millions):
Separation
Related
Actions
2011
Program
2009
Program Total
Balance as of September 30, 2011 .................... $— $2 $ 1 $3
Charges ......................................... 2 3 — 5
Reversals ........................................ — (1) — (1)
Utilization ....................................... (1) (3) — (4)
Reclass / transfers. ................................ — 1 — 1
Balance as of September 28, 2012 .................... $ 1 $2 $ 1 $4
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