Blackberry 2013 Annual Report Download - page 155
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Research In Motion Limited
Notes to the Consolidated Financial Statements
In millions of United States dollars, except share and per share data, and except as otherwise indicated
The following table sets forth the components of the Company’s loss from discontinued operations presented on its consolidated
statements of operations:
Carrying values of significant assets and liabilities of NewBay at the time of sale include property, plant and equipment and
intangible assets of $41 million (March 3, 2012 - $51 million), current assets of $15 million (March 3, 2012 – $32 million) and
accrued liabilities of $13 million (March 3, 2012 - $19 million).
Fiscal 2012 Cost Optimization Program
In June 2011, the Company initiated a cost optimization program (the “2012 Cost Optimization Program”) that included a global
workforce reduction of approximately 2,000 employees, representing approximately 10% of the global workforce. The
Company incurred approximately $125 million in total pre-tax charges related to the 2012 Cost Optimization Program in fiscal
2012. All of the pre-tax charges were related to one-time employee termination benefits and the identification of redundant
facilities. During fiscal 2013, the Company made cash payments related to employee termination benefits and facilities costs, as
shown in the table below. No further charges are expected to be incurred under this plan.
The following table sets forth the activity in the Company’s 2012 Cost Optimization Program for fiscal 2013:
There were no cost optimization charges incurred during fiscal 2011.
39
For the year ended
March 2,
2013
March 3,
2012
Revenues from discontinued o
p
erations
$33 $12
Loss from discontinued o
p
erations, before tax (20) (7)
Loss on dis
p
osal of discontinued o
p
eration
(3)
—
Income tax recover
y
5
—
Loss from discontinued o
p
erations, net of tax $(18) $(7)
Employee
Termination
Benefits
Facilities
Costs Total
Balance as at March 3, 2012 $10 $44 $54
Cash
p
a
y
ments made (10) (24) (34)
Balance as at March 2, 2013
$
—
$20 $20