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47
Impact to 2013 Financial Results
For the year ended December 31, 2013, the Company incurred charges (reversals), including project costs, for the Company’s
restructuring plans as follows:
Other
Actions
Other
Restructuring
Actions
Charges
Restructuring
(Reversals)
Project
(Dollars in millions)
(Note 5)
Costs
Total
Accelerated depreciation charges
$
11.1
$
–
$
11.1
Excess components and other inventory-related charges
15.8
–
15.8
Employee termination benefit charges
11.1
–
11.1
Contract termination and lease charges (reversals)
(0.2)
–
(0.2)
Project costs
–
16.7
16.7
Total restructuring charges and project costs
$
37.8
$
16.7
$
54.5
Restructuring charges and project costs for all restructuring actions are recorded in the Company’s Consolidated Statements of
Earnings for the year ended December 31, 2013 as follows:
Restructuring
Selling,
and related
Impact on
Restructuring-
Impact on
general and
charges
Operating
(Dollars in millions)
related costs
Gross profit
administrative
(reversals)
Income
Accelerated depreciation charges
$
5.6
$
5.6
$
5.5
$
–
$
11.1
Excess components and other inventory-
related charges
15.8
15.8
–
–
15.8
Employee termination benefit charges
–
–
–
11.1
11.1
Contract termination and lease charges
(reversals)
–
–
–
(0.2)
(0.2)
Project costs
0.1
0.1
16.6
–
16.7
Total restructuring charges and project
costs
$
21.5
$
21.5
$
22.1
$
10.9
$
54.5
For the year ended December 31, 2013, restructuring charges and project costs were incurred in the Company’s segments as follows:
(Dollars in millions)
Other Actions
ISS
$
29.7
All other
20.0
Enterprise Software
4.8
Total restructuring charges and project costs
$
54.5
ACQUISITION AND DIVESTITURE-RELATED ADJUSTMENTS
Pre-tax acquisition and divestiture-related adjustments affected the Company’s financial results as follows:
(Dollars in millions)
2015
2014
2013
Reduction in revenue
$
45.0
$
17.1
$
15.9
Amortization of intangible assets
129.0
73.4
56.9
Acquisition and integration costs
98.7
28.6
17.6
Total acquisition-related adjustments
$
272.7
$
119.1
$
90.4
Gain on sale of inkjet-related technology and assets
–
–
(73.5)
Divestiture costs
1.5
1.7
4.3
Total divestiture-related adjustments
1.5
1.7
(69.2)
Total acquisition and divestiture-related adjustments
$
274.2
$
120.8
$
21.2