EMC 2008 Annual Report Download - page 109

Download and view the complete annual report

Please find page 109 of the 2008 EMC 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 180

  • 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
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180

Table of Contents
EMC CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued)
2008 Restructuring Programs
The activity for the 2008 restructuring programs is presented below (table in thousands):
2008
Category Initial
Provision Utilization
During 2008 Ending Balance
Non-Cash
Portion of the
Provision
Workforce reductions $201,016 $ (14,742) $ 186,274 $ 1,330
Abandoned and impaired assets 49,774 (49,774) — 49,774
Consolidation of excess facilities and other contractual obligations 5,748 (3,372) 2,376 —
Total $256,538 $ (67,888) $ 188,650 $ 51,104
The remaining cash portion owed for these programs is $186.5 million. The cash expenditures relating to workforce reductions are expected to be
substantially paid by the end of 2010. The cash expenditures relating to the contractual obligations are expected to be paid out by the end of 2009.
2007 Restructuring Program
The activity for the 2007 restructuring program for the years ended December 31, 2008 and 2007 is presented below (tables in thousands):
2008
Category Beginning
Balance Adjustment to
The Provision Utilization Ending Balance
Workforce reductions $12,415 $ 3,775 $(13,099) $ 3,091
Total $12,415 $ 3,775 $(13,099) $ 3,091
2007
Category Initial
Provision Utilization Ending Balance
Non-Cash
Portion of the
Provision
Workforce reductions $13,262 $ (847) $ 12,415 $ 920
Total $13,262 $ (847) $ 12,415 $ 920
2006 Restructuring Programs
The activity for the 2006 restructuring programs for the years ended December 31, 2008, 2007 and 2006 is presented below (tables in thousands):
2008
Category Beginning
Balance Adjustment to
the Provision Utilization Ending Balance
Workforce reductions $83,155 $ (10,255)$(63,445) $ 9,455
Consolidation of excess facilities 2,563 (290) — 2,273
Total $85,718 $ (10,545)$(63,445) $ 11,728
103