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Restructuring Accruals | 6 Months Ended
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Jun. 30, 2011
Restructuring Accruals |
Restructuring Accruals |
9. Restructuring Accruals Beginning in 2007, the Company commenced a strategic review of its global profitability and manufacturing footprint. The Company concluded its global review as of December 31, 2009, with the final actions implemented in the first half of 2010. Amounts recorded by the Company do not include any future gains that may be realized upon the ultimate sale or disposition of closed facilities. The Company continually reviews its manufacturing footprint and may close various operations due to plant efficiencies, integration of acquisitions, and other market factors. These restructuring actions taken by the Company are not related to the strategic review of manufacturing operations discussed above. As part of this continuing review of its manufacturing footprint, the Company recorded restructuring charges of $8 million in the first quarter of 2011 for employee costs related to a plant closing and the related relocation of business to other facilities in its Asia Pacific segment. In addition, the Company recorded $4 million of restructuring charges in the second quarter of 2011 for employee costs related to the closure of a machine line in its Asia Pacific segment. Selected information related to the restructuring accruals for the strategic footprint review and other restructuring actions for the first six months of 2011 and 2010 is as follows:
|  | Strategic Footprint Review |  | Other |  |  |
|  | Employee Costs |  | Other |  | Total |  | Restructuring Actions |  | Total Restructuring |
Balance at January 1, 2011 |  | $ | 27 |  | $ | 25 |  | $ | 52 |  | $ | 27 |  | $ | 79 |
First quarter 2011 charges |  |  |  |  |  |  |  | 8 |  | 8 |
Net cash paid, principally severance and related benefits |  | (2 | ) | (2 | ) | (4 | ) |  |  | (4 | )
Other, principally foreign exchange translation |  | 2 |  |  |  | 2 |  |  |  | 2 |
Balance at March 31, 2011 |  | 27 |  | 23 |  | 50 |  | 35 |  | 85 |
Second quarter 2011 charges |  |  |  |  |  |  |  | 4 |  | 4 |
Net cash paid, principally severance and related benefits |  | (2 | ) |  |  | (2 | ) | (7 | ) | (9 | )
Other, principally foreign exchange translation |  |  |  |  |  | — |  | (2 | ) | (2 | )
Balance at June 30, 2011 |  | $ | 25 |  | $ | 23 |  | $ | 48 |  | $ | 30 |  | $ | 78 |
Balance at January 1, 2010 |  | $ | 93 |  | $ | 26 |  | $ | 119 |  | $ | 27 |  | $ | 146 |
Net cash paid, principally severance and related benefits |  | (18 | ) | (1 | ) | (19 | ) |  |  | (19 | )
Other, principally foreign exchange translation |  | (1 | ) |  |  | (1 | ) |  |  | (1 | )
Balance at March 31, 2010 |  | 74 |  | 25 |  | 99 |  | 27 |  | 126 |
Second quarter 2010 charges |  | (2 | ) | 10 |  | 8 |  |  |  | 8 |
Write-down of assets to net realizable value |  |  |  | (1 | ) | (1 | ) |  |  | (1 | )
Net cash paid, principally severance and related benefits |  | (9 | ) | (3 | ) | (12 | ) |  |  | (12 | )
Other, principally foreign exchange translation |  | (3 | ) | (1 | ) | (4 | ) |  |  | (4 | )
Balance at June 30, 2010 |  | $ | 60 |  | $ | 30 |  | $ | 90 |  | $ | 27 |  | $ | 117 |
The Company’s decisions to curtail selected production capacity have resulted in write downs of certain long-lived assets to the extent their carrying amounts exceeded fair value or fair value less cost to sell. The Company classified the significant assumptions used to determine the fair value of the impaired assets, which was not material, as Level 3 in the fair value hierarchy as set forth in the general accounting principles for fair value measurements. The Company also recorded liabilities for certain employee separation costs to be paid under contractual arrangements and other exit costs.

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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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 5.P.4) -URI http://asc.fasb.org/extlink&oid=6394695&loc=d3e140904-122747 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 146 -Paragraph 20 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 5 -Section P -Subsection 3, 4 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 5.P.3) -URI http://asc.fasb.org/extlink&oid=6394695&loc=d3e140864-122747 + Details
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