Vtech 2002 Annual Report Download - page 46

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VTech Holdings Ltd44
Notes to the Financial Statements
3. RESTRUCTURING AND IMPAIRMENT CHARGES
The Group launched a comprehensive restructuring plan in March 2001. Details of the plan have been provided in the annual financial
statements for the year ended 31st March 2001. The restructuring and impairment charges during the year predominantly comprise the full
provision for the closure costs and impairment charges associated with the disposal of the Mexican factories, scale down of e-Business
related services and additional provision for the reorganization costs of the information appliances business.
2002 2001
Note US$ million US$ million
Severance payments —36.0
Impairment of intangible assets —25.2
Impairment of tangible assets and assets held for sale 3.6 17.2
Write-down of discontinued stocks 1.7 17.1
Other closure and termination costs 19 8.7 14.9
214.0 110.4
4. DIRECTORS’ AND SENIOR EXECUTIVES’ EMOLUMENTS
Directors’ emoluments
The emoluments of the directors of the Company are as follows:
2002 2001
US$ million US$ million
Salaries, allowances and benefits in kind 2.2 3.3
Bonuses 0.6 0.3
Fees 0.1 0.1
Contributions to retirement benefit schemes 0.1 0.2
Compensation for loss of office —0.9
3.0 4.8
The table below shows the number of directors whose emoluments were within the bands stated:
2002 2001
US$ Number of directors Number of directors
Nil –128,000 63
128,001–192,000 1—
192,001–256,000 1—
256,001–320,000 1—
320,001–384,000 1—
384,001–448,000 —1
448,001–512,000 —2
512,001–576,000 1—
704,001–768,000 2—
768,001–832,000 —2
896,001–960,000 —2
Emoluments of independent non-executive directors included above amounted to US$63,000 (2001: US$37,000) in respect of directors’ fees.