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SPECIAL CHARGES (GAINS), NET | 12 Months Ended
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Dec. 31, 2013
SPECIAL CHARGES (GAINS), NET [Abstract] |
SPECIAL CHARGES (GAINS), NET |
7. | SPECIAL CHARGES (GAINS), NET
The Company’s Technology Products segment incurred special charges of approximately $22.4 million during 2013. These charges included approximately $5.5 million for lease termination costs (present value of contractual gross lease payments net of estimated sublease rental income, or settlement amount) and $2.0 million for fixed asset write offs related to the closing of underperforming retail stores, $5.9 million in workforce reductions and other exit costs related to the implementation of a shared services center for our European subsidiaries, $2.9 million of one-time impairment charges related to intangible assets of the CompUSA brand in Puerto Rico, $2.2 million of workforce reduction charges for senior management changes in our North American operations, $1.8 million related to start up costs of the European shared services center, $0.5 million in recruitment costs of the European shared services center, $1.0 million for reserve adjustments related to the facility closing and exit from the PC manufacturing business and $0.6 million of additional legal and professional fees related to the previously disclosed completed investigation and settlement with a former officer and director. The Company expects to expend cash of $7 to $9 million in the future to complete the implementation of the European shared services center. Expected impacts on future costs, when the shared service center is fully implemented, are expected to be a reduction in our cost structure in the $9 to $11 million range. The balance of the workforce reduction costs and retail store closing liabilities are included in the Consolidated Balance Sheet within accrued expenses and other current liabilities and other non-current liabilities. The following table details the associated liabilities incurred related to this plan (in millions):
|  | Workforce Reductions and Personnel Costs |  |  | Other Exit Costs |  |  | Total |
Balance January 1, 2013 |  | $ | 4.3 |  |  | $ | - |  |  | $ | 4.3 |
Charged to expense |  |  | 7.6 |  |  |  | 6.8 |  |  |  | 14.4 |
Paid or otherwise settled |  |  | (4.9 | ) |  |  | (1.7 | ) |  |  | (6.6 | )
Balance December 31, 2013 |  | $ | 7.0 |  |  | $ | 5.1 |  |  | $ | 12.1 |
The Company’s Industrial Products segment incurred special charges of approximately $0.1 million of personnel costs and benefited from an adjustment to lease termination costs of approximately $0.3 million related to the planned closing and relocation of one of our smaller distribution centers to a new, significantly larger, distribution and call center in the second quarter of 2012. The balance of the restructuring reserves is included in the Consolidated Balance Sheet within accrued expenses and other current liabilities and other liabilities. The Company anticipates incurring minimal additional costs related to this facility closing and relocation. The following table details the associated liabilities incurred related to this plan (in millions):
|  | Severance and Personnel Costs |  |  | Other Exit Costs |  |  | Total |
Balance January 1, 2013 |  | $ | 0.2 |  |  | $ | 1.6 |  |  | $ | 1.8 |
Charged to expense (benefit) |  |  | 0.1 |  |  |  | (0.3 | ) |  |  | (0.2 | )
Paid or otherwise settled |  |  | (0.1 | ) |  |  | (0.2 | ) |  |  | (0.3 | )
Balance December 31, 2013 |  | $ | 0.2 |  |  | $ | 1.1 |  |  | $ | 1.3 |

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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 1 -Subparagraph (SAB TOPIC 5.P.3) -URI http://asc.fasb.org/extlink&oid=27011515&loc=d3e140864-122747 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 5 -Section P -Subsection 3, 4 Reference 3: 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=27011515&loc=d3e140904-122747 Reference 4: 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 + Details
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