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Restructuring Charges, Net | 12 Months Ended
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Apr. 30, 2011
Restructuring Charges, Net [Abstract] |
Restructuring Charges, Net |
6. | Restructuring Charges, Net
During fiscal 2010, the Company implemented a restructuring plan to eliminate redundancies as a result of the acquisition of Whitehead Mann Limited and Whitehead Mann SAS, together referred to as Whitehead Mann (“WHM”) and reorganized its go-to-market and operating structure in the Europe, Middle East and Africa (“EMEA”) region. These initiatives resulted in restructuring charges of $25.8 million against operations during fiscal 2010, of which $16.0 million and $9.8 million related to severance costs and the consolidation of premises, respectively. These restructuring charges were partially offset by $5.1 million of reductions from previous restructuring charges resulting in net restructuring costs of $20.7 million during fiscal 2010. The Company’s basic and diluted earnings per share for fiscal 2010 would have decreased by $0.07 per share had reductions of previously recorded restructuring charges of $5.1 million (or $3.2 million, net of taxes) not been recorded. During fiscal 2011, the Company increased previously recorded restructuring charges resulting in net restructuring costs of $2.1 million. The increase in restructuring expenses primarily relates to higher facility costs than originally recorded. The Company’s basic and diluted earnings per share for fiscal 2011 would have increased by $0.03 per share had increases of previously recorded restructuring charges of $2.1 million (or $1.3 million, net of taxes) not been recorded. Changes in the restructuring liability are as follows:
|  | Severance |  |  | Facilities |  |  | Total |
|  | (In thousands) |
Liability as of April 30, 2009 |  | $ | 10,554 |  |  | $ | 12,807 |  |  | $ | 23,361 |
Additions charged to expense |  |  | 15,940 |  |  |  | 9,835 |  |  |  | 25,775 |
Other reductions, net |  |  | (2,331 | ) |  |  | (2,771 | ) |  |  | (5,102 | )
Reductions for cash payments |  |  | (21,849 | ) |  |  | (8,691 | ) |  |  | (30,540 | )
Non-cash items |  |  | (370 | ) |  |  | (452 | ) |  |  | (822 | )
Exchange rate fluctuations |  |  | 770 |  |  |  | 367 |  |  |  | 1,137 |
Liability as of April 30, 2010 |  |  | 2,714 |  |  |  | 11,095 |  |  |  | 13,809 |
Other (reductions) increases, net |  |  | (299 | ) |  |  | 2,429 |  |  |  | 2,130 |
Reductions for cash payments |  |  | (1,518 | ) |  |  | (9,979 | ) |  |  | (11,497 | )
Exchange rate fluctuations |  |  | 81 |  |  |  | 398 |  |  |  | 479 |
Liability as of April 30, 2011 |  | $ | 978 |  |  | $ | 3,943 |  |  | $ | 4,921 |
As of April 30, 2011 and 2010, the restructuring liability is included in current portion of other accrued liabilities on the consolidated balance sheet, except for $2.1 million and $5.2 million, respectively, of facilities costs which primarily relate to commitments under operating leases, net of sublease income, which are included in other long-term liabilities and will be paid over the next seven years. The restructuring liability by segment is summarized below:
|  | April 30, 2011 |
|  | Severance |  |  | Facilities |  |  | Total |
|  | (In thousands) |
Executive Recruitment |  |  |  |  |  |  |  |  |  |  |  |
North America |  | $ | — |  |  | $ | 91 |  |  | $ | 91 |
Europe, Middle East and Africa (“EMEA”) |  |  | 857 |  |  |  | 2,312 |  |  |  | 3,169 |
Asia Pacific |  |  | — |  |  |  | 328 |  |  |  | 328 |
South America |  |  | 114 |  |  |  | — |  |  |  | 114 |
Total Executive Recruitment |  |  | 971 |  |  |  | 2,731 |  |  |  | 3,702 |
Futurestep |  |  | 7 |  |  |  | 1,212 |  |  |  | 1,219 |
Liability as of April 30, 2011 |  | $ | 978 |  |  | $ | 3,943 |  |  | $ | 4,921 |
|  | April 30, 2010 |
|  | Severance |  |  | Facilities |  |  | Total |
|  | (In thousands) |
Executive Recruitment |  |  |  |  |  |  |  |  |  |  |  |
North America |  | $ | 5 |  |  | $ | 845 |  |  | $ | 850 |
EMEA |  |  | 2,429 |  |  |  | 7,816 |  |  |  | 10,245 |
Asia Pacific |  |  | — |  |  |  | 773 |  |  |  | 773 |
South America |  |  | 115 |  |  |  | — |  |  |  | 115 |
Total Executive Recruitment |  |  | 2,549 |  |  |  | 9,434 |  |  |  | 11,983 |
Futurestep |  |  | 165 |  |  |  | 1,661 |  |  |  | 1,826 |
Liability as of April 30, 2010 |  | $ | 2,714 |  |  | $ | 11,095 |  |  | $ | 13,809 |

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- Definition Description of restructuring activities including exit and disposal activities, which should include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. This description does not include restructuring costs in connection with a business combination or discontinued operations and long-lived assets (disposal groups) sold or classified as held for sale. This element may be used as a single block of text to encapsulate the entire disclosure including data and tables. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 146 -Paragraph 20 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 5 -Section P -Subsection 3, 4 + Details
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