AMD 2014 Annual Report Download - page 111

Download and view the complete annual report

Please find page 111 of the 2014 AMD annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 127

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127

2011 Restructuring Plan
In 2012, the Company recorded an approximately $8 million for severance and costs related to certain
employee benefits. The plan was completed as of the end of the first quarter of 2012.
The following table provides a summary of the restructuring activities during 2014 and 2013 and the related
liabilities recorded in “Accrued and other current liabilities” and “Other long-term liabilities” on the Company’s
consolidated balance sheets remaining as of December 27, 2014:
Severance
and related
benefits
Other exit
related
costs Total
(In millions)
Balance at December 29, 2012 ....................... $ 41 $17 $58
Charges (reversals), net ........................ (5) 11 6
Cash payments ............................... (33) (21) (54)
Balance at December 28, 2013 ....................... 3 7 10
Charges (reversals), net ........................ 42 16 58
Cash payments ............................... (19) (4) (23)
Non-cash charges ............................. — (6) (6)
Balance at December 27, 2014 ....................... $ 26 $13 $39
The following table provides a summary of each major type of cost associated with the 2014, 2012 and 2011
restructuring plans through December 27, 2014:
2014 2013 2012
(In millions)
Severance and benefits charges (reversals), net ............... $ 42 $ (5) $ 95
Contract or program termination charges .................... 6 — —
Asset impairments ...................................... 6 — 4
Facility consolidation and closure charges ................... 4 11 1
Total ................................................ $ 58 $ 6 $ 100
Executive Officer Separation
In the fourth quarter of 2014, the Company recorded other special charges of $13 million. The amount
primarily includes $10 million due to the departure of the Company’s former CEO, of which $5 million was
related to cash and $5 million was related to stock-based compensation expense. The amount is recorded under
“Restructuring and other special charges, net” on the consolidated statements of operations.
105