Callaway 2015 Annual Report Download - page 110

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F-40
The table below depicts the activity and liability balances recorded relating to the Cost Reduction Initiatives during the
years ended December 31, 2014, and 2013. Amounts payable as of December 31, 2013 are included in accrued employee
compensation and benefits and accounts payable and accrued expenses in the accompanying consolidated balance sheets.
There were no amounts payable as of December 31, 2014.
Cost Reduction Initiatives
(In thousands)
Workforce
Reductions
Transition
Costs
Asset
Write-offs Total
Restructuring payable balance, December 31, 2012 .................................. $ 4,531 $ 591 $ — $ 5,122
Charges to cost and expense(1) ................................................................. 2,977 8,777 4,802 16,556
Non-cash items......................................................................................... — (5,130)(4,802)(9,932)
Cash payments ......................................................................................... (6,702)(1,737)—
(8,439)
Restructuring payable balance, December 31, 2013 .................................. $ 806 $ 2,501 $ — $ 3,307
Cash payments ......................................................................................... $ (806)$
(2,501)$ — $
(3,307)
Restructuring payable balance, December 31, 2014 .................................. $ — $ — $ — $ —
(1) The pre-tax charges for the year ended December 31, 2013 included the following:
• $2,977,000 in continued costs associated with workforce reductions, in addition to $4,459,000 in other transition
costs;
• $5,579,000 for the write-off of assets and exit costs associated with the reorganization of golf ball manufacturing
(see Note 11); and
• $3,541,000 associated with the transition of the Company's golf apparel, golf footwear and integrated device
businesses in the United States and Europe to a third-party licensing arrangement.