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2012
2012 Actions 2012 Other
Actions Restructuring Actions Actions Other
Restructuring Pension Restructuring 2012 Restructuring Actions Other
Charges Costs Project Actions Charges Restructuring Actions
(Dollars in millions) (Note 5) (Note 17) Costs Total (Note 5) Project Costs Total Total
Accelerated depreciation charges $ 49.3 $ – $ – $ 49.3 $ 0.1 $ – $ 0.1 $ 49.4
Excess components and other
inventory-related charges 17.7 – – 17.7 – – – 17.7
Impairments on long-lived assets
held for sale 0.6 – – 0.6 1.5 – 1.5 2.1
Employee termination benefit
charges 31.1 – – 31.1 (0.1) – (0.1) 31.0
Contract termination and lease
charges 4.2 – – 4.2 0.9 – 0.9 5.1
Pension and postretirement
curtailment loss and termination
benefits – 7.9 – 7.9 – – – 7.9
Project costs – – 8.3 8.3 – 0.3 0.3 8.6
Total restructuring charges/project
costs $ 102.9 $ 7.9 $ 8.3 $ 119.1 $ 2.4 $ 0.3 $ 2.7 $ 121.8
Restructuring charges/project costs for the 2012 Restructuring Actions and Other Restructuring Actions are recorded in the
Company’s Consolidated Statements of Earnings for the year ended December 31, 2012 as follows:
Selling, general Restructuring Impact on
Restructuring- Impact on and and related Operating
(Dollars in millions) related costs Gross profit administrative charges income
Accelerated depreciation charges $ 29.5 $ 29.5 $ 19.9 $ – $ 49.4
Excess components and other inventory-related
charges 17.7 17.7 – – 17.7
Impairments on long-lived assets held for sale 0.6 0.6 1.5 – 2.1
Employee termination benefit charges – – – 31.0 31.0
Contract termination and lease charges – – – 5.1 5.1
Pension and postretirement curtailment loss and
termination benefits – – 7.9 – 7.9
Project costs – – 8.6 – 8.6
Total restructuring charges/project costs $ 47.8 $ 47.8 $ 37.9 $ 36.1 $ 121.8
For the year ended December 31, 2012, the Company incurred restructuring charges and project costs related to the 2012
Restructuring Actions of $91.8 million in ISS, $26.6 million in All other and $0.7 million in Perceptive Software. The Company
incurred restructuring charges and project costs related to the Other Restructuring Actions of $0.8 million in ISS and $1.9 million in
All other.
Impact to 2011 Financial Results
For the year ended December 31, 2011, the Company incurred charges (reversals), including project costs, of $29.9 million for the
Company’s restructuring plans as follows:
2012 2012 Other
Actions Actions Actions Other
Restructuring Restructuring 2012 Restructuring Actions Other
Charges Project Actions Charges Restructuring Actions
(Dollars in millions) (Note 5) Costs Total (Note 5) Project Costs Total Total
Accelerated depreciation charges $ 4.5 $ – $ 4.5 $ 2.4 $ – $ 2.4 $ 6.9
Impairments on long-lived assets
held for sale – – – 4.6 – 4.6 4.6
Employee termination benefit
charges 3.1 – 3.1 (1.0) – (1.0) 2.1
Contract termination and lease
charges – – – (0.1) – (0.1) (0.1)
Project costs – – – – 16.4 16.4 16.4
Total restructuring charges/project
costs $ 7.6 $ – $ 7.6 $ 5.9 $ 16.4 $ 22.3 $ 29.9
Restructuring charges/project costs for the 2012 Restructuring Actions and Other Restructuring Actions are recorded in the
Company’s Consolidated Statements of Earnings for the year ended December 31, 2011 as follows:
46