CompUSA 2012 Annual Report Download - page 54

Long-term debt consists of (in millions):
The aggregate maturities of long-term debt outstanding at December 31, 2012 are as follows (in millions):
The Company’
s Industrial Products segment incurred severance, personnel and other exit costs related to the planned closing and
relocation of one of our smaller distribution centers to a new, significantly larger distribution and call center in the second quarter of
2012. These costs were recorded as special charges within the Industrial Products segment. The balance of the restructuring reserves is
included in the Consolidated Balance Sheet within accrued expenses and other current liabilities and other liabilities. The Company
anticipates incurring minimal additional costs related to this facility closing and relocation.
The following table details the associated liabilities incurred related to this plan (in millions):
The Company’s North America Technology Products segment incurred $35.3 million of one-time impairment charges related to certain
intangible assets and goodwill of CompUSA and Circuit City in the fourth quarter of 2012 (See Note 2 of Notes to Consolidated Financial
Statements), costs associated with senior staffing changes for which no future services will be rendered, and additional legal and
professional fees related to the previously disclosed completed investigation and settlement with a former officer and director and in
pursuing related matters. The legal and professional fees and restructuring costs, for the year ended December 31, 2012, were
approximately $2.2 million and were offset by a $5.0 million insurance recovery relating to action taken by a former officer and
director. The Company also incurred $1.8 million of patent settlements with non-
practicing entities. These costs were recorded as special
charges in the Technology Products segment.
The Company’s North America Technology Products segment also incurred severance and other exit costs and asset write downs of
approximately $0.5 million and $4.6 million, respectively, related to the exit from the PC manufacturing business in the fourth quarter of
2012. These costs were recorded as special charges in the Technology Products segment. The balance of the exit costs of $0.5 million is
included in the Consolidated Balance Sheet within accrued expenses and other current liabilities. The Company anticipates incurring
minimal additional costs related to this facility closing.
The Company’s European Technology Products segment incurred severance and other exit costs related to workforce reductions in order
to implement the shared services center in Europe. These costs, incurred in the fourth quarter of 2012, were approximately $4.7 million
and were included as special charges. The balance of the restructuring reserves is included in the Consolidated Balance Sheet within
accrued expenses and other current liabilities. The Company anticipates incurring additional costs related to this restructuring..
Table of Contents
December 31,
2012 2011
Capitalized equipment lease obligations
$
8.1
$
9.7
Less: current portion
2.8
2.6
$
5.3
$
7.1
2013
2014
2015
2016
2017
Maturities
$
2.8
$
2.5
$
2.2
$
0.6
$
-
7.
SPECIAL CHARGES (GAINS), NET
Severance and
Personnel Costs
Other Exit
Costs Total
Balance January 1, 2012
$
-
$
-
$
-
Charged to expense
0.3
1.9
2.2
Paid or otherwise settled
(0.1
)
(0.3
)
(0.4
)
Balance December 31, 2012
$
0.2
$
1.6
$
1.8
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