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Restructuring and Impairment Charges | 12 Months Ended
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Dec. 31, 2011
Restructuring and Impairment Charges [Abstract] |
Restructuring and Impairment Charges |
2) | Restructuring and Impairment Charges
Below is a summary of all the impairment and restructuring charges reported in the Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) during the years ended December 31, 2011, 2010, and 2009:
|  | 2011 |  |  | 2010 |  |  | 2009 |
Impairment of tangible assets |  | $ | — |  |  | $ | 308 |  |  | $ | 235 |
Restructuring charges |  |  | — |  |  |  | 1,981 |  |  |  | 4,742 |
Restructuring and impairment charges |  | $ | — |  |  | $ | 2,289 |  |  | $ | 4,977 |
The above charges are discussed in detail below. Restructuring Activity During the first quarter of 2010, we announced the closure of the Tempe Plant. We ceased operations at this location on August 31, 2010. This closure impacted approximately 130 employees. Current economic conditions coupled with the long-term manufacturing strategy for our Whirlaway business necessitated a consolidation of our manufacturing resources into existing facilities in Ohio. We incurred cash charges of approximately $1,518 in severance costs during 2010. The severance costs were recognized pro-rata over the period from the announcement date until the employees’ termination date as continued employment was a requirement to receive severance payments. Additionally, during the year ended December 31, 2010, we incurred $506 of site closure and other associated costs. In the first quarter of 2010, we incurred $1,000 of accelerated depreciation related to certain fixed assets that were expected to be abandoned due to ceasing operations at the Tempe Plant. (See Note 6 of the Notes to Consolidated Financial Statements). The majority of the fixed assets and inventory that ceased to be used were sold on August 31, 2010 in exchange for long-term notes receivables. (See Note 4 of the Notes to Consolidated Financial Statements). On November 26, 2008, we announced the closure of our Kilkenny Plant. The closure was part of our long term strategy to rationalize our European operations. The closure affected 68 employees and was substantially completed during 2009. We incurred $70 and $763 in restructuring costs during the years ended December 31, 2010 and 2009, respectively, principally for site closure and other associated costs. During the first quarter of 2009, we closed our Hamilton Plant. This closure affected 11 employees and $130 in severance and other associated closure costs were incurred during the first quarter of 2009. Of this amount, $108 was for employee severance cost which was paid in the second quarter of 2009. During the third quarter of 2009, we informed our employees of the Veenendaal Plant of our intention to begin a reorganization of the plant’s labor force due to the economic downturn. During the year ended December 31, 2009, we incurred severance charges of $3,849 which covered the elimination of 53 permanent positions or 17% of the workforce at that time. The majority of the severance cost was paid out during the fourth quarter of 2009 and first quarter of 2010. During the year ended December 31, 2010, we recognized a benefit of $113 as the total severance related costs were less than the amount accrued. The following table summarizes the 2010 activity related to the three restructuring programs discussed above:
|  | Reserve Balance at 1/01/10 |  |  | Charges |  |  | Paid in 2010 |  |  | Currency Impacts |  |  | Reserve Balance at 12/31/2010 |
Severance and other employee costs |  | $ | 2,382 |  |  | $ | 1,405 |  |  | $ | (3,660 | ) |  | $ | (127 | ) |  | $ | — |
Site closure and other associated cost |  |  | — |  |  |  | 576 |  |  |  | (576 | ) |  |  | — |  |  |  | — |
Total |  | $ | 2,382 |  |  | $ | 1,981 |  |  | $ | (4,236 | ) |  | $ | (127 | ) |  | $ | — |
These restructuring costs were recorded in the Restructuring and Impairment Charges line as a component of income (loss) from operations. The liability balance for severance and other employee costs were reported within the Accrued salaries, wages and benefits line of the Consolidated Balance Sheets. There were no restructuring charges incurred during the year ended December 31, 2011. Impairments of Goodwill and Other Long-Lived Tangible and Intangible Assets During the year ended December 31, 2009, we adjusted the fair value of the building and land of our Kilkenny Plant to its current estimated fair value resulting in a $235 charge. This impairment charge was reported in the Restructuring and Impairment Charges line as a component of loss from operations in 2009. For the year ended December 31, 2010, we recorded $308 of non-cash impairment charges related to the impairment of production machinery at the Eltmann Plant as this subsidiary was legally required to file for bankruptcy in January 2011. This impairment charge was reported in the Restructuring and Impairment Charges line as a component of income from operations in 2010 (See Notes 1 and 15 of the Notes to Consolidated Financial Statements).

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- Definition The entire disclosure for aggregate costs incurred during the period for restructuring, remediation, implementation, integration and asset impairment activities. Description of restructuring activities such as exit and disposal activities, could 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. This would also include disclosure of the charge against earnings resulting from the aggregate write down of all assets from their carrying value to their fair value. + References No definition available. + Details
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