| Restructuring |
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During the fourth quarter of 2010, we initiated a restructuring plan within our I&M segment as a
result of business conditions at that time, as well as continuing process improvements. We
recorded a pre-tax restructuring charge of $10.6 million, consisting primarily of employee
severance costs related to a workforce reduction of approximately 230 positions. For the three
and nine months ended September 30, 2011, we have reduced the reserve related to the 2010
restructuring by $1.3 million and $6.6 million, respectively, primarily relating to cash
payments for employee severance costs. The remaining reserve as of September 30, 2011 is $2.2
million and is included in other current liabilities in the Consolidated Balance Sheet. |
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As of September 30, 2011, our 2008 and 2006 restructuring initiatives still have remaining
reserves relating to facilities costs of $0.4 million and $4.0 million, respectively. |
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