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Restructuring, Restatement Related Costs and Other | 12 Months Ended
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Dec. 31, 2011
Restructuring, Restatement Related Costs and Other | 11. Restructuring, Restatement Related Costs and Other The following table summarizes restructuring, restatement related costs and other expenses in the accompanying consolidated statements of operations:
|  | 2011 |  |  | 2010 |  |  | 2009 |
|  | (In thousands) |
2011 restructuring |  | $ | 2,161 |  |  | $ | — |  |  | $ | — |
United Kingdom restructuring |  |  | — |  |  |  | (70 | ) |  |  | 710 |
Germany restructuring |  |  | 81 |  |  |  | 460 |  |  |  | 1,520 |
Other restructuring |  |  | — |  |  |  | 1 |  |  |  | 11 |
Restructuring charges |  |  | 2,242 |  |  |  | 391 |  |  |  | 2,241 |
Restatement related costs and other |  |  | 62 |  |  |  | 2,201 |  |  |  | 14,050 |
Total restructuring, restatement related costs and other |  | $ | 2,304 |  |  | $ | 2,592 |  |  | $ | 16,291 |
2011 Restructuring In November 2011, the Company announced a strategic initiative (“2011 restructuring”) which aims to consolidate operations to reduce our cost structure and improve operational efficiency. As part of this initiative, the Company expects to eliminate up to 12 facilities, through consolidation of certain manufacturing and sales and distribution facilities and divestiture of businesses. Three facilities have been eliminated as of December 31, 2011. The Company expects to complete the consolidation and divesture of up to nine additional facilities in 2012. As part of these site closures and consolidations, the Company incurred $1.0 million of accelerated depreciation related to changes in estimated useful lives of certain long-lived assets for which the Company intends to exit. The Company estimated the net realizable value of these assets based on comparable market values of similar properties, using Level 2 inputs from the fair value hierarchy discussed in Note 4. Costs incurred during 2011 totaled $1.8 million, $0.2 million and $0.2 million for the Laser Products, Semiconductor Systems, and Precision Motion and Technologies segments, respectively. The Company expects to incur cash charges of $4.0 million to $5.0 million related to the 2011 restructuring plan, $1.2 million of which was recorded during 2011. Additionally, the Company expects to incur non-cash restructuring charges, related to accelerated depreciation of $3.0 million to $4.0 million, $1.0 million of which was recorded during 2011. The Company expects to substantially complete the restructuring program by the end of 2012. U.K. Restructuring In December 2008, the Company announced the transfer of certain manufacturing activities from its Rugby, U.K. facility within the Laser Products segment to the Company’s facilities in China. During 2009, the Company recorded $0.8 million in restructuring costs related to this restructuring plan. It was comprised of $0.7 million of employee severance costs and $0.1 million of manufacturing transition costs. During both 2010 and 2009, the Company recorded a $0.1 million restructuring benefit related to the sale of inventory that had been previously written off and included in 2008 restructuring charges for the sale of assets of a discontinued U.K. product line. All of the assets pertaining to this restructuring were sold as of December 31, 2010. Germany Restructuring As a result of restructuring programs undertaken in 2000 through 2004 and the subsequent sublease of the Company’s Munich, Germany facility within the Precision Motion and Technologies segment in May 2007 through the end of its lease term in January 2013, the Company has a $0.7 million accrual for the cost of this lease as of December 31, 2011. During 2009, the Company determined that it would no longer recover sublease payments from the existing subtenant. Accordingly, the previous estimate of future sublease payments was revised to record an additional restructuring charge of $1.3 million. Based on revised estimates of future sublease payments and interest accretion, the Company recorded charges of $0.1 million and $0.5 million in 2011 and 2010, respectively. As of December 31, 2011, the cumulative expense related to this restructuring plan is $4.7 million. During 2009, the Company initiated certain restructuring activities to consolidate its German sales and distribution operations. These consolidation activities were completed in 2009, at a total cost of $0.2 million, which was comprised entirely of facility related charges including a lease termination fee, required remaining lease payments and moving costs. Rollforward of Accrued Expenses Related to Restructuring The following table summarizes the accrual activities, by component, related to the Company’s restructuring charges recorded on the accompanying consolidated balance sheets (in thousands):
|  | Total |  |  | Severance |  |  | Facility |  |  | Accelerated Depreciation |  |  | Other |
Balance at December 31, 2009 |  | $ | 2,450 |  |  | $ | — |  |  | $ | 2,450 |  |  | $ | — |  |  | $ | — |
Restructuring charges, net |  |  | 391 |  |  |  | — |  |  |  | 391 |  |  |  | — |  |  |  | — |
Cash payments |  |  | (906 | ) |  |  | — |  |  |  | (906 | ) |  |  | — |  |  |  | — |
Non-cash write-offs or other adjustments |  |  | (369 | ) |  |  | — |  |  |  | (369 | ) |  |  | — |  |  |  | — |
Balance at December 31, 2010 |  |  | 1,566 |  |  |  | — |  |  |  | 1,566 |  |  |  | — |  |  |  | — |
Restructuring charges, net |  |  | 2,242 |  |  |  | 774 |  |  |  | 371 |  |  |  | 1,002 |  |  |  | 95 |
Cash payments |  |  | (1,250 | ) |  |  | (277 | ) |  |  | (907 | ) |  |  | — |  |  |  | (66 | )
Non-cash write-offs or other adjustments |  |  | (970 | ) |  |  | — |  |  |  | 32 |  |  |  | (1,002 | ) |  |  | — |
Balance at December 31, 2011 |  | $ | 1,588 |  |  | $ | 497 |  |  | $ | 1,062 |  |  | $ | — |  |  | $ | 29 |
As of December 31, 2011 and 2010, approximately $0.1 million and $0.8 million, respectively, of long term accrued restructuring liabilities were classified as other liabilities in the accompanying consolidated balance sheets. The current portion of accrued restructuring liabilities is included in other accrued expenses. Restatement Related Costs and Other In 2011, 2010 and 2009, the Company incurred costs related to third parties, including auditors, attorneys, forensic accountants, and other advisors, for services performed in connection with the restatement of the Company’s previously issued financial statements as reported in its Annual Report on Form 10-K for the year ended December 31, 2008 and its Quarterly Report on Form 10-Q for the quarter ended September 26, 2008 and other related matters, including, the SEC investigation and certain shareholder actions. These costs are included in the Company’s restructuring, restatement related costs and other for the respective periods in the accompanying consolidated statements of operations and were $0.1 million, $2.2 million and $14.1 million in 2011, 2010 and 2009, respectively.

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- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, 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. Includes costs for professional services performed in connection with the restatement of the Company's previously issued financial statements as reported in its Annual Report on Form 10-K for the year-ended December 31, 2008 and its Quarterly Report on Form 10-Q for the quarter ended September 26, 2008, including the related SEC investigation. + References No definition available. + Details
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