v2.3.0.11
Severance
 3 Months Ended
Aug. 31, 2011
Severance Disclosure [Text Block]

11. Severance


The Company implemented new cost reduction initiatives, notably a voluntary retirement program, in the current fiscal year and incurred severance expense of $2.1 million related to this program. The table below provides information regarding the severance cost reported in the Company’s condensed consolidated statements of operations, including the costs related to this program.


Accrued severance of $2.4, $1.9 and $1.7 as of August 31, 2011, May 31, 2011 and August 31, 2010, respectively, is included in “Other accrued expenses” on the Company’s condensed consolidated balance sheets.


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended
August 31, 2011

 

Twelve months ended
May 31, 2011

 

Three months ended
August 31, 2010

 

Beginning balance

 

 

$

1.9

 

 

 

$

3.4

 

 

 

$

3.4

 

 

Accruals

 

 

 

3.3

 

 

 

 

6.7

 

 

 

 

2.1

 

 

Payments

 

 

 

(2.8

)

 

 

 

(8.2

)

 

 

 

(3.8

)

 

Ending balance

 

 

$

2.4

 

 

 

$

1.9

 

 

 

$

1.7