XML 28 R13.htm IDEA: XBRL DOCUMENT  v2.3.0.11
Other Matters
6 Months Ended
Jun. 30, 2011
Other Matters  
Other Matters

Note 9 Other Matters

 

Solar Asset Impairment and Related Charges

 

On July 28, 2011, we announced a plan to discontinue our CIGS solar systems business. The action, which is expected to impact approximately 80 employees, was in response to the dramatically reduced cost of mainstream solar technologies driven by significant reductions in prices, large industry investment, a lower than expected end market acceptance for CIGS technology and technical barriers in scaling CIGS. As a result, during the second quarter of 2011, we recorded charges totaling $50.7 million, which included an asset impairment charge totaling $6.2 million, an inventory write-off totaling $33.4 million and a charge to settle contracts totaling $11.1 million. The inventory write-off is included in cost of sales in the accompanying Condensed Consolidated Statements of Income.