Crucial 2011 Annual Report Download - page 77

In response to a severe downturn in the semiconductor memory industry and global economic conditions, we initiated a restructure plan in
2009. In the first quarter of 2009, IM Flash, our joint venture and Intel, terminated an agreement to obtain NAND Flash memory supply from our
Boise facility. In connection therewith, Intel paid us $208 million in 2009. In addition, we phased out all remaining 200mm DRAM wafer
manufacturing operations in Boise, Idaho in the second half of 2009. As a result of these restructure plans, we reduced employment in 2009 by
approximately 4,600 employees, or approximately 20%. As of September 2, 2010, all amounts related to the restructure plan initiated in 2009 had
been paid.
Other Non-Operating Income (Expense), Net
Other non-operating income (expense), net for 2011, included $113 million for losses recognized in connection with the Exchange
Transaction, the Partial Repurchase of the 2014 Notes and the Partial Repurchase of the 2013 Notes. (See "Debt" note.) Other non-operating
income (expense), net for 2010, included $56 million of gain recognized in connection with Inotera's sale of common shares in a public offering.
(See "Equity Method Investments – Inotera and MeiYa DRAM joint ventures with Nanya" note.)
Income Taxes
Income (loss) before taxes, net (income) loss attributable to noncontrolling interests and equity in net income (loss) of equity method
investees and income tax (provision) benefit consisted of the following:
74
2011 2010 2009
Income (loss) before taxes, net (income) loss attributable to noncontrolling interests and
equity in net income (loss) of equity method investees:
Foreign
$
294
$
537
$
(427
)
U.S.
257
1,383
(1,425
)
$
551
$
1,920
$
(1,852
)
Income tax (provision) benefit:
Current:
Foreign
$
(89
)
$
(24
)
$
(12
)
State
(1
)
(4
)
—
U.S. federal
—
66
12
(90
)
38
—
Deferred:
Foreign
(113
)
(14
)
(1
)
U.S. federal
— (
5
)
—
(113
)
(19
)
(1
)
Income tax (provision) benefit
$
(203
)
$
19
$
(1
)