Classmates.com 2011 Annual Report Download - page 64

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Table of Contents
Restructuring and Other Exit Costs
Consolidated restructuring and other exit costs for the year ended December 31, 2011 primarily consisted of employee termination costs
and, to a lesser extent, contract termination costs and facility closure costs. Consolidated restructuring and other exit costs for the year ended
December 31, 2010 primarily consisted of employee termination costs, facility closures and relocation costs and, to a lesser extent, contract
termination costs. At December 31, 2011, accrued restructuring and other exit costs totaled $4.2 million, which will be paid over the next
12 months.
Interest Income
Consolidated interest income remained relatively consistent for the year ended December 31, 2011, compared to year ended December 31,
2010.
Interest Expense
The decrease in consolidated interest expense was primarily due to lower interest rates as a result of the June 2011 refinancing of FTD's
credit agreement that was entered into in connection with the acquisition of FTD in August 2008, as well as reduced interest expense as a result
of lower average debt balances, partially offset by a $6.1 million loss on extinguishment of debt, which was recorded in the year ended
December 31, 2011, related to such refinancing.
Other Income, Net
The increase in consolidated other income, net, was primarily due to a $1.1 million non-income tax refund at our FTD segment during the
year ended December 31, 2011 as well as an increase in realized and unrealized gains related to forward foreign currency exchange contracts.
61
Year Ended
December 31, Change
2011 2010 $ %
(in thousands, except percentages)
Restructuring and other exit costs
$
5,677
$
2,815
$
2,862
102
%
Year Ended
December 31,
Change
2011 2010 $ %
(in thousands, except percentages)
Interest income
$
1,536
$
1,673
$
(137
)
(8
)%
Year Ended
December 31,
Change
2011
2010
$
%
(in thousands, except percentages)
Interest expense
$
23,075
$
24,900
$
(1,825
)
(7
)%
Year Ended
December 31, Change
2011
2010
$
%
(in thousands, except percentages)
Other income, net
$
2,643
$
452
$
2,191
485
%