Lexmark 2013 Annual Report Download - page 100

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96
Impact to 2013, 2012 and 2011 Financial Results
For the year ended December 31, 2013, charges for the Company’s Other Restructuring Actions were recorded in the Consolidated
Statements of Earnings as follows:
Restructuring Impact on
and related Operating
charges Income
Employee termination benefit charges $ 1.9 $ 1.9
For the year ended December 31, 2012, charges (reversals) for the Company’s Other Restructuring Actions were recorded in the
Consolidated Statements of Earnings as follows:
Selling, general Restructuring Impact on
and and related Operating
administrative charges Income
Accelerated depreciation charges $ 0.1 $ – $ 0.1
Impairment of long-lived assets held for sale 1.5 – 1.5
Employee termination benefit charges (reversals) – (0.1) (0.1)
Contract termination and lease charges – 0.9 0.9
Total restructuring charges $ 1.6 $ 0.8 $ 2.4
For the year ended December 31, 2011, charges (reversals) for the Company’s Other Restructuring Actions were recorded in the
Consolidated Statements of Earnings as follows:
Selling, general Restructuring Impact on
and and related Operating
administrative charges Income
Accelerated depreciation charges $ 2.4 $ – $ 2.4
Impairment of long-lived assets held for sale 4.6 – 4.6
Employee termination benefit charges (reversals) – (1.0) (1.0)
Contract termination and lease charges (reversals) – (0.1) (0.1)
Total restructuring charges (reversals) $ 7.0 $ (1.1) $ 5.9
The impairment charges recorded in 2012 are related to the Company’s site in Boigny, France held for sale for which the current fair
value had fallen below the carrying value. In 2011, the Company recorded impairment charges of $3.6 million related to its Boigny,
France site and $1.0 million related to its manufacturing facility in Juarez, Mexico for which the current fair value had fallen below
the carrying value. Subsequent to the impairment charge, the Juarez, Mexico facility was sold and the Company recognized a $0.6
million pre-tax gain on the sale that is included in Selling, general and administrative on the Company's Consolidated Statements of
Earnings. This gain is not included in the total restructuring charges (reversals) presented in the table above.
For the year ended December 31, 2011, the reversal for employee termination benefit charges is due primarily to revisions in
assumptions.
For the years ended December 31, 2013, 2012, and 2011, the Company incurred restructuring charges in connection with the Other
Restructuring Actions in the Company’s segments as follows:
2013 2012 2011
ISS $ – $ 0.8 $ 2.1
All other 0.1 1.6 3.8
Perceptive Software 1.8 – –
Total charges $ 1.9 $ 2.4 $ 5.9
Liability Rollforward
The following table represents a rollforward of the liability incurred for employee termination benefits and contract termination and
lease charges in connection with the Company’s Other Restructuring Actions. Of the total $1.5 million restructuring liability as of
December 31, 2013, $1.3 million is included in Accrued liabilities and $0.2 million is included in Other liabilities on the Company’s
Consolidated Statements of Financial Position.
96