Old COPPER Company, Inc. - 10-Q filing on 2012-06-06

Restructuring and Management Transition Charges (Tables)

3 Months Ended

Apr. 28, 2012

Schedule Of Current And Cummulative Restructuring and Managment Transition Charges Text Block

		Three Months		Three Months		Cumulative
($ in millions)		Ended		Ended		Amount Through
		April 28, 2012		April 30, 2011		April 28, 2012
Supply chain	$	6	$	3	$	47
Catalog and catalog outlet stores⁽¹⁾		-		3		55
Home office and stores		45		1		90
Management transition		20		-		150
Voluntary early retirement program (VERP)⁽¹⁾		-		-		179
Other		5		2		38
Total	$	76	$	9	$	559

(1) These restructuring activities were completed in 2011 and we do not expect to incur any additional costs related to the exit of our catalog and catalog outlet stores and the enhanced benefits associated with the VERP.

Restructuring and Management Transition Charges

($ in millions)		Supply			Home Office			Management
		Chain			and Stores			Transition			Other			Total
January 28, 2012	$	3		$	28		$	10		$	19		$	60
Charges		6			45			20			5			76
Cash payments		(5)			(38)			(14)			(6)			(63)
Non-cash		(1)	⁽¹⁾		(3)	⁽²⁾		(6)	⁽²⁾		(2)	⁽³⁾		(12)
April 28, 2012		3			32			10			16			61

(1) Amount represents increased depreciation as a result of shortening the useful lives of assets associated with our supply chain operations.

(2) Amount represents stock-based compensation expense.

(3) Amount represents the write-off of assets associated with department store remodels that will not be completed due to the announced transformation of our department stores.