Restructuring Charges

6 Months Ended

Jun. 30, 2012

NOTE 5. Restructuring Charges

Our remaining restructuring accrual as of June 30, 2012 was $0.05 million. This was a reduction from the December 31, 2011 accrual of $0.6 million due to cash payments made and changes in estimate, partially offset by restructuring expense during the first quarter.

All severance charges are included in salaries and benefits and all lease obligation and closing costs are included in general and administrative in the Consolidated Statements of Income and Other Comprehensive Income.

The following table displays the activity and balances of the restructuring reserves in the Consolidated Balance Sheets (in thousands):


	Hub			Hub						Mode			Hub
	Headcount			Consolidation			Hub			Headcount			Group
	Reduction			of Facilities			Total			Reduction			Total
Balance at December 31, 2011	$	364		$	137		$	501		$	113		$	614
Restructuring expenses		9			23			32			—			32
Change in estimate		(39	)		(23	)		(62	)		(2	)		(64	)
Cash payments made		(109	)		(41	)		(150	)		(90	)		(240	)

Balance at March 31, 2012	$	225		$	96		$	321		$	21		$	342
Restructuring expenses		—			—			—			—			—
Change in estimate		(9	)		(49	)		(58	)		1			(57	)
Cash payments made		(211	)		(23	)		(234	)		(6	)		(240	)

Balance at June 30, 2012	$	5		$	24		$	29		$	16		$	45

- 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.

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