NVIDIA 2010 Annual Report Download - page 104

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NVIDIA CORPORATION AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
(Continued)
RSUs
Weighted
Average
Grant-date
fair value
Weighted
Average
Remaining
Contractual
Life
Restricted Stock Units:
Balances, January 25, 2009 - $ -
Awarded 7,672,899 $ 12.26
Vested (1) (2,400) $ 12.40
Forfeited (181,987) $ 11.37
Balances, January 31, 2010 7,488,512 $ 12.28
Expected to Vest after January 31, 2010 6,401,099 $ 12.28 2.34
(1) The aggregate tax withheld for RSUs vested during fiscal year 2010 was immaterial.
Note 4 – Restructuring Charges and Other
In September 2008, we announced a workforce reduction to allow for continued investment in strategic growth areas, which was
completed in the third quarter of fiscal year 2009. As a result, we eliminated approximately 360 positions worldwide, or about 6.5% of
our global workforce. During fiscal year 2009, expenses associated with the workforce reduction, which were comprised primarily of
severance and benefits payments to these employees, totaled $8.0 million. The remaining accrual of $0.2 million as of January 25,
2009 relates to severance and benefits payments, which was paid by the third quarter of fiscal year 2010.
The following table provides a summary of the restructuring activities and related liabilities recorded in accrued liabilities in
our Consolidated Balance Sheet as of January 31, 2010 (in thousands):
Accrued Restructuring Charges :
Balance at January 25, 2009 $ 186
Cash payments (186)
Balance at January 31, 2010 $ -
Restructuring and other expenses for fiscal year 2009 also included a non-recurring charge of $18.9 million associated with the
termination of a development contract related to a new campus construction project that has been put on hold.
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Source: NVIDIA CORP, 10-K, March 18, 2010 Powered by Morningstar® Document Research℠