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Commitments, Contingencies and Other Matters | 9 Months Ended
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Sep. 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. As a result of these actions we notified 49 employees of their termination from the Company. During the three and nine months ended September 30, 2014, we recorded restructuring charges relating to these actions of $0.7 million and $1.9 million, consisting of personnel severance and related costs. We expect to incur approximately $0.2 million and $0.1 million of additional personnel severance and related costs in our Data Storage segment in the fourth quarter of 2014 and 2015, respectively, and a lease charge of approximately $0.9 million in the fourth quarter of 2014, related to these actions. The reductions in headcount principally related to our Data Storage and MBE businesses. During the three months ended September 30, 2014 the Company undertook additional restructuring activities, including the consolidation of our Camarillo, CA facility into our Plainview, New York facility and additional headcount reductions to help contain costs and further improve profitability. We expect to substantially complete the consolidation by the end of 2014. As a result of these actions we notified 44 additional employees of their termination from the Company. During the three and nine months ended September 30, 2014, we recorded restructuring charges relating to these actions of $1.6 million, consisting of personnel severance and related costs. We expect to incur approximately $2.1 million of additional personnel severance and related costs and a lease charge of approximately $0.2 million, all of which are expected to be incurred in the fourth quarter of 2014. The reductions in head count principally related to our Data Storage businesses. During the three and nine months ended September 30, 2013, we took measures to improve profitability, including the restructuring of one of our international sales offices and consolidation of certain sales, business and administrative functions. As a result of these actions, we recorded restructuring charges of $1.2 million and $1.8 million, respectively. Restructuring Liability The following is a reconciliation of the restructuring liability through September 30, 2014 (in thousands):
|  | Rollforward of Restructuring Liability |
|  | Balance as of |  | For the nine months ended September 30, 2014 |  | Balance as of |  | Short-term |
|  | January 1, 2014 |  | Expense Incurred |  | Cash Payments |  | Adjustments |  | September 30, 2014 |  | portion |
2012 Restructuring |  | $ | 195 |  | $ | — |  | $ | (195 | ) | $ | — |  | $ | — |  | $ | — |
2013 Restructuring |  | 338 |  | — |  | (338 | ) | — |  | — |  | — |
2014 Restructuring |  | — |  | 3,510 |  | (1,538 | ) | — |  | 1,972 |  | 1,972 |
Total |  | $ | 533 |  | $ | 3,510 |  | $ | (2,071 | ) | $ | — |  | $ | 1,972 |  | $ | 1,972 |
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 second quarter of 2014, the Company began executing a plan to liquidate our foreign subsidiary in Japan. Subsequent to third quarter end, in October 2014, the liquidation was completed. 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 September 30, 2014 was approximately $3.3 million. Upon liquidation during the three months ended December 31, 2014, we expect to record a gain of approximately $3.1 million, inclusive of the gain from the CTA. 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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