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Commitments, Contingencies and Other Matters | 6 Months Ended
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Jun. 30, 2014
Commitments, Contingencies and Other Matters |
Commitments, Contingencies and Other Matters | Note 8— Commitments, Contingencies and Other Matters Restructuring and Other Charges During the first quarter of 2014, we announced the consolidation of our Ft. Collins, Colorado facility into our Plainview, New York facility and took additional measures to improve profitability in a challenging business environment. We expect to substantially complete the consolidation by the end of 2014. During the three and six months ended June 30, 2014, we recorded restructuring charges of $0.8 million and $1.2 million. During the six months ended June 30, 2014 we notified approximately 49 employees of their termination from the Company. These charges consisted of personnel severance and related costs. We expect to incur approximately $1.1 million and $0.1 million of additional restructuring charges in our Data Storage segment throughout the remainder of 2014 and 2015, respectively, related to these actions. The reductions in head count principally relate to our Data Storage and MBE businesses. During the six months ended June 30, 2013, we took measures to improve profitability, including a reduction of discretionary expenses, realignment of our senior management team and consolidation of certain sales, business and administrative functions. As a result of these actions, we recorded a restructuring charge of $0.5 million. We did not record any restructuring charges during the three months ended June 30, 2013. Subsequent to quarter end, the company announced additional restructuring activities. Included in these activities is further consolidation of our Data Storage Segment facilities and additional headcount reductions to help contain costs and further improve profitability. As a result of these actions, we anticipate total costs of approximately $3.9 million, all of which will be incurred through the remainder of 2014. Restructuring Liability The following is a reconciliation of the restructuring liability through June 30, 2014 (in thousands):
|  | Rollforward of Restructuring Liability |
|  | Balance as of |  | For the six months ended June 30, 2014 |  | Balance as of |  | Short-term |
|  | January 1, 2014 |  | Expense Incurred |  | Cash Payments |  | Adjustments |  | June 30, 2014 |  | portion |
2012 Restructuring |  | $ | 195 |  | $ | — |  | $ | (195 | ) | $ | — |  | $ | — |  | $ | — |
2013 Restructuring |  | 338 |  | — |  | (182 | ) | — |  | 156 |  | 156 |
2014 Restructuring |  | — |  | 1,193 |  | (489 | ) | — |  | 704 |  | 704 |
Total |  | $ | 533 |  | $ | 1,193 |  | $ | (866 | ) | $ | — |  | $ | 860 |  | $ | 860 |
The balance of the short-term liability will be paid over the next 12 months. The following is a reconciliation of the restructuring liability through December 31, 2013 (in thousands):
|  | Rollforward of Restructuring Liability |
|  | Balance as of |  | For the year ended December 31, 2013 |  | Balance as of |  | Short-term |
|  | January 1, 2013 |  | Expense Incurred |  | Cash Payments |  | Adjustments |  | December 31, 2013 |  | portion |
2012 Restructuring |  | $ | 1,875 |  | $ | — |  | $ | (1,680 | ) | $ | — |  | $ | 195 |  | $ | 195 |
2013 Restructuring |  | — |  | 1,485 |  | (1,147 | ) | — |  | 338 |  | 338 |
Total |  | $ | 1,875 |  | $ | 1,485 |  | $ | (2,827 | ) | $ | — |  | $ | 533 |  | $ | 533 |
Cumulative Translation Adjustment During the three months ended June 30, 2014, the Company began executing a plan to liquidate our foreign subsidiary in Japan. We currently expect to be substantially liquidated by the end of the year. As a result of this liquidation we expect to realize into income the balance of the CTA at the time of liquidation. The balance in the CTA account as of June 30, 2014 was approximately $3.5 million. Legal Proceedings We are involved in various legal proceedings arising in the normal course of our business. We do not believe that the ultimate resolution of these matters will have a material adverse effect on our consolidated financial position, results of operations or cash flows.

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- Definition Includes disclosure of commitments and contingencies. This element may be used as a single block of text to encapsulate the entire disclosure including data and tables. This text block may also include disclosure about the concentration risk, minimum lease commitments, lease related costs, restructuring costs, and environmental remediation. + References No definition available. + Details
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