Old COPPER Company, Inc. - 10-Q filing on 2012-09-04

Restructuring and Management Transition Charges (Tables)

6 Months Ended

Jul. 28, 2012

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


	Three Months Ended				Six Months Ended					Cumulative
($ in millions)		July 28,		July 30,		July 28,		July 30,		Amount Through
		2012		2011		2012		2011		July 28, 2012
Supply chain	$	10	$	12	$	16	$	15	$	57
Catalog and catalog outlet stores⁽¹⁾		-		1		-		4		55
Home office and stores		56		4		101		5		146
Software and systems		36		-		36		-		36
Store fixtures		42		-		42		-		42
Management transition		10		2		30		2		160
Voluntary early retirement program (VERP)⁽¹⁾		-		-		-		-		179
Other		5		4		10		6		43
Total	$	159	$	23	$	235	$	32	$	718

(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			Software			Store			Management
		Chain			and Stores			and Systems			Fixtures			Transition			Other			Total
January 28, 2012	$	3		$	28		$	-		$	-		$	10		$	19		$	60
Charges		16			101			36			42			30			10			235
Cash payments		(11)			(108)			(3)			-			(30)			(11)			(163)
Non-cash		(2)	⁽¹⁾		(3)	⁽²⁾		(33)	⁽³⁾		(42)	⁽³⁾		(7)	⁽²⁾		(3)	⁽⁴⁾		(90)
July 28, 2012		6			18			-			-			3			15			42

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

(2) Amounts represent primarily stock-based compensation expense.

(3) Amounts represent the write-off of software and systems and store fixtures that are no longer in service.

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