Memorex 2013 Annual Report Download - page 34

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The components of our restructuring and other expense included in our Consolidated Statements of Operations were as
follows:
Years Ended December 31,
2013 2012 2011
(In millions)
Restructuring
Severance and related ........................................................ $ 2.1 $16.9 $ 7.0
Lease termination costs ....................................................... 0.7 0.6 3.3
Other ..................................................................... 2.4 2.2 1.1
Total restructuring .......................................................... $ 5.2 $19.7 $11.4
Other
Settlement of UK pension plan (Note 9) ............................................ 10.6 — —
Gain on sale of fixed assets held for sale ........................................... (9.8) (0.7) —
Acquisition and integration related costs ........................................... 2.8 3.7 2.6
Pension settlement/curtailment (Note 9) ........................................... 2.1 2.4 2.5
Contingent consideration fair value adjustment (Note 4) ................................ (0.6) (8.6) —
Intangible asset abandonment (Note 6) ............................................ — 1.9 —
Asset disposals .............................................................. — — 7.0
Other ..................................................................... 1.0 2.7 (2.0)
Total ................................................................... $11.3 $21.1 $21.5
Total restructuring charges of $5.2 million recorded for the year ended December 31, 2013 were all related to the GPI
Program.
For the year ended December 31, 2012, we recorded restructuring charges of $14.9 million, primarily related to
severance, under the GPI Program. Also during 2012, we recorded restructuring charges of $4.2 million under the 2011
Corporate Program primarily related to severance and $0.6 million of other restructuring charges under the 2011
Manufacturing Program.
For the year ended December 31, 2011, we recorded restructuring charges of $10.2 million, primarily related to
severance and lease termination costs under the 2011 Corporate Program. Also during 2011, we recorded restructuring
charges of $0.3 million for lease termination and modification costs and $0.9 million of site clean-up costs under the 2011
Manufacturing Program.
In addition to the restructuring charges recorded in restructuring and other, we recorded inventory write-offs of
$2.7 million, $2.3 million and $9.1 million related to the planned rationalization of certain product lines as part of our
restructuring programs, for the years ended December 31, 2013, 2012 and 2011, respectively, which are included in cost of
goods sold in our Consolidated Statements of Operations.
Since the inception of the GPI Program, we have recorded a total of $17.6 million of severance and related expenses,
$5.0 million of inventory write-offs, $0.8 million of lease termination and modification costs, and $3.3 million of other charges.
Since the inception of the 2011 Corporate Program, we have recorded a total of $13.4 million of severance and related
expenses, $3.5 million of lease termination and modification costs, $1.6 million of inventory write-offs, $0.3 million related to a
pension curtailment charge and $0.9 million of other charges.
During the year ended December 31, 2013, severance expense of $1.6 million related to employees directly associated
with XtremeMac and Memorex consumer electronics businesses was recorded in discontinued operations. See Note 4 —
Acquisitions and Divestitures in our Notes to Consolidated Financial Statements for more information on our discontinued
operations.
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