Seagate 2014 Annual Report Download - page 83
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SEAGATETECHNOLOGYPLC
NOTESTOCONSOLIDATEDFINANCIALSTATEMENTS—(Continued)
ThecarryingvalueofotherintangibleassetssubjecttoamortizationasofJune27,2014issetforthinthefollowingtable:
ThecarryingvalueofIn-processresearchanddevelopmentnotsubjecttoamortizationwas$39milliononJune27,2014.
AsofJuly3,2015,expectedamortizationexpenseforotherintangibleassetsforeachofthenextfiveyearsandthereafterisasfollows:
5.RestructuringandExitCosts
Duringfiscalyear2015and2014,theCompanyrecordedrestructuringchargesof$32millionand$24million,respectively,comprisedprimarilyofcharges
relatedtoemployeeterminationcostsassociatedwithreductionsinforceduringeachfiscalyear.Duringfiscalyear2013,theCompanyrecordedrestructuringand
otherchargesof$2million,mainlycomprisedofpost-employmentcostsassociatedwithasmallrestructuringplan.TheCompany'ssignificantrestructuringplans
aredescribedbelow.AllrestructuringchargesarereportedinRestructuringandother,netontheConsolidatedStatementsofOperations.
2015Plan.Duringfiscalyear2015,theCompanyrecordedemployeeterminationcostsof$25millionandmadecashpaymentsof$16millionassociated
withareductionintheworkforce.
AngMoKio(AMK)Plan.InAugust2009,theCompanyannouncedthatitwillcloseitsAMKmanufacturingoperationsinSingapore.Operationsatthis
facilityhadceasedasofthethirdquarteroffiscalyear2011.TheharddrivemanufacturingoperationshavebeenrelocatedtootherexistingSeagatefacilitiesand
theCompany'sAsiaInternationalHeadquartersremainsinSingapore.ThisclosureandrelocationispartoftheCompany'songoingfocusoncostefficienciesinall
areasofitsbusinessandisintendedtofacilitateleveragingmanufacturinginvestmentsacrossfewersites.TheCompanycurrentlyestimatestotalrestructuring
chargesofapproximately$50million,allincash,includingapproximately$42millionforpost-employmentbenefits,approximately$6millionfortherelocation
ofmanufacturingequipment,andapproximately$2millionforotherplantclosureandrelocationcosts.Fromtheinception
80
(Dollarsinmillions)
GrossCarrying
Amount
Accumulated
Amortization
NetCarrying
Amount
WeightedAverage
RemainingUsefulLife
Existingtechnology $ 68 $ (18) $ 50 2.9years
Customerrelationships 450 (192) 258 3.3years
Tradename 10 (1) 9 3.1years
Otherintangibleassets 4 (1) $ 3 4.4years
Totalamortizableotherintangibleassets $ 532 $ (212) $ 320 3.2years
(Dollarsinmillions) Amount
2016 $ 141
2017 122
2018 64
2019 24
2020 7
Thereafter 12
$ 370