Estee Lauder 2013 Annual Report Download - page 125
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Accrued restructuring charges at June 30, 2013 are
expected to result in cash expenditures funded from cash
provided by operations of approximately $23 million in
fiscal 2014 and $5 million in fiscal 2015.
Total Returns and Other Charges Associated with
Restructuring Activities
The following table presents total returns and charges
associated with restructuring and other activities related
to the Program:
YEAR ENDED JUNE 30 2013 2012 2011
(In millions)
Sales returns (included in
Net Sales) $ 1.5 $ 2.1 $ 4.6
Cost of sales 1.2 1.5 5.8
Restructuring charges 14.6 53.6 41.1
Other charges 0.5 6.0 7.9
Total charges associated
with restructuring activities
$17.8 $63.2 $59.4
2013
$
1.
5
1.
2
1
4.
6
0
.
5
$
17.
8
THE EST{E LAUDER COMPANIES INC. 123
Restructuring Charges
The following table presents aggregate restructuring charges related to the Program to date:
Employee-Related Asset Contract
Costs Write-offs Terminations Other Exit Costs Total
(In millions)
Fiscal 2009 $ 60.9 $ 4.2 $ 3.4 $ 1.8 $ 70.3
Fiscal 2010 29.3 11.0 2.3 6.2 48.8
Fiscal 2011 34.6 2.4 3.0 1.1 41.1
Fiscal 2012 37.1 1.7 12.6 2.2 53.6
Fiscal 2013 7.7 2.1 1.5 3.3 14.6
Charges recorded through
June 30, 2013 $169.6 $21.4 $22.8 $14.6 $228.4
The following table presents accrued restructuring charges and the related activities under the Program to date:
Employee-Related Asset Contract
Costs Write-offs Terminations Other Exit Costs Total
(In millions)
Charges $ 60.9 $ 4.2 $ 3.4 $ 1.8 $ 70.3
Cash payments (7.5) — (0.5) (1.6) (9.6)
Non-cash write-offs — (4.2) — — (4.2)
Translation adjustments 0.6 — — — 0.6
Other adjustments (2.4) — — — (2.4)
Balance at June 30, 2009 51.6 — 2.9 0.2 54.7
Charges 29.3 11.0 2.3 6.2 48.8
Cash payments (49.5) — (5.1) (6.0) (60.6)
Non-cash write-offs — (11.0) — — (11.0)
Translation adjustments (0.8) — — — (0.8)
Balance at June 30, 2010 30.6 — 0.1 0.4 31.1
Charges 34.6 2.4 3.0 1.1 41.1
Cash payments (30.6) — (2.4) (1.4) (34.4)
Non-cash write-offs — (2.4) — — (2.4)
Translation adjustments 1.2 — (0.1) 0.1 1.2
Balance at June 30, 2011 35.8 — 0.6 0.2 36.6
Charges 37.1 1.7 12.6 2.2 53.6
Cash payments (23.6) — (12.4) (2.0) (38.0)
Non-cash write-offs — (1.7) — — (1.7)
Translation adjustments (1.4) — — 0.1 (1.3)
Balance at June 30, 2012 47.9 — 0.8 0.5 49.2
Charges 7.7 2.1 1.5 3.3 14.6
Cash payments (26.0) — (2.1) (3.1) (31.2)
Non-cash write-offs — (2.1) — — (2.1)
Translation adjustments 0.2 — — — 0.2
Other adjustments (2.3) — — — (2.3)
Balance at June 30, 2013 $ 27.5 $ — $ 0.2 $ 0.7 $ 28.4