Crucial 2015 Annual Report Download - page 82

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80
Employee Benefit Plans
We have employee retirement plans at our U.S. and international sites. Details of the more significant plans are discussed
as follows:
Employee Savings Plan for U.S. Employees
We have 401(k) retirement plans under which U.S. employees may contribute up to 75% of their eligible pay (subject to
IRS annual contribution limits) to various savings alternatives, none of which include direct investment in our stock. We match
in cash eligible contributions from employees up to 5% of the employee's annual eligible earnings. Contribution expense for
the 401(k) plans was $55 million, $44 million, and $41 million in 2015, 2014, and 2013, respectively.
Retirement Plans
We have pension plans in various countries. The pension plans are only available to local employees and are generally
government mandated. As of September 3, 2015, the projected benefit obligations of our plans was $132 million and plan
assets were $105 million. As of August 28, 2014, the projected benefit obligations of our plans was $164 million and plan
assets were $90 million. Pension expense was not significant for 2015, 2014, or 2013.
Restructure and Asset Impairments
For the year ended 2015 2014 2013
Loss on impairment of LED assets $ 1 $ (6) $ 33
Loss on impairment of MIT assets — (5) 62
Gain on termination of lease to Transform — — (25)
Loss on restructure of ST Consortium agreement — — 26
Other 2 51 30
$ 3 $ 40 $ 126
In order to optimize operations, improve efficiency, and increase our focus on our core memory operations, we have
entered into various restructure activities. For 2014, our MBU and EBU operating segments recorded restructure and asset
impairment charges of $21 million and $20 million, respectively. For 2013, restructure and asset impairment charges of $20
million, $14 million, $12 million, and $12 million were recognized by our SBU, EBU, MBU, and CNBU operating segments,
respectively. The remaining restructure and asset impairment charges were recognized by our other segments that do not meet
the thresholds of a reportable segment. As of September 3, 2015, we do not anticipate incurring any significant additional costs
for these restructure activities.
For 2014 and 2013, other restructure included charges associated with workforce optimization activities and with our
efforts to wind down our 200mm operations primarily in Agrate, Italy and Kiryat Gat, Israel.
For 2013, we also recognized charges of $33 million primarily to impair certain production assets used in the development
of LED technology, $62 million to impair the assets of MIT, a wholly-owned subsidiary, to their estimated fair values in
connection with the sale of MIT to LFoundry, and $26 million in connection with the restructure of a consortium agreement
with ST, whereby certain assets and approximately 500 employees from our Agrate, Italy fabrication facility were transferred to
ST. For 2013, we also recognized a gain of $25 million related to the termination of a lease with Transform Solar Pty Ltd.
("Transform"), an equity method investee, to a portion of our manufacturing facilities in Boise, Idaho.