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RESTRUCTURING (Tables)
3 Months Ended
Mar. 31, 2014
RESTRUCTURING  
Schedule of total net restructuring charges

 

 

 

2011

 

2012

 

2013

 

Q1 ‘14

 

Total

 

 

 

Actual

 

Actual

 

Actual

 

Actual

 

Incurred

 

Restructuring charges:

 

 

 

 

 

 

 

 

 

 

 

Capital expenditures

 

$

5

 

$

2,596

 

$

2,352

 

$

441

 

$

5,394

 

Gain on sale of Brandon, SD Facility

 

 

 

(3,585

)

 

(3,585

)

Accelerated depreciation

 

 

819

 

898

 

 

1,717

 

Severance

 

430

 

 

435

 

 

865

 

Impairment charges

 

 

 

2,365

 

 

2,365

 

Moving and other exit-related costs

 

439

 

1,677

 

3,085

 

329

 

5,530

 

Total

 

874

 

5,092

 

5,550

 

770

 

12,286

 

Schedule of total restructuring charges incurred to date and the total expected restructuring charges

 

 

 

2011

 

2012

 

2013

 

Q1 ‘14

 

Total

 

Total

 

 

 

Actual

 

Actual

 

Actual

 

Actual

 

Incurred

 

Projected

 

Capital expenditures:

 

 

 

 

 

 

 

 

 

 

 

 

 

Gearing

 

$

5

 

$

2,072

 

$

2,075

 

$

441

 

$

4,593

 

$

4,975

 

Corporate

 

 

524

 

277

 

 

801

 

801

 

Total capital expenditures

 

5

 

2,596

 

2,352

 

441

 

5,394

 

5,776

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of sales:

 

 

 

 

 

 

 

 

 

 

 

 

 

Gearing

 

131

 

308

 

2,176

 

269

 

2,884

 

3,486

 

Services

 

 

225

 

234

 

 

459

 

459

 

Total cost of sales

 

131

 

533

 

2,410

 

269

 

3,343

 

3,945

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Selling, general, and administrative expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

Towers

 

 

130

 

176

 

18

 

324

 

324

 

Gearing

 

35

 

520

 

451

 

42

 

1,048

 

1,048

 

Services

 

 

40

 

 

 

40

 

40

 

Corporate

 

406

 

49

 

462

 

 

917

 

917

 

Total selling, general and administrative expenses

 

441

 

739

 

1,089

 

60

 

2,329

 

2,329

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other - Towers and Weldments gain on Brandon, SD Facility:

 

 

 

(3,585

)

 

(3,585

)

(3,585

)

Non-cash expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

Towers

 

 

 

291

 

 

291

 

291

 

Gearing

 

247

 

1,166

 

3,008

 

 

4,421

 

4,421

 

Services

 

 

58

 

(15

)

 

43

 

43

 

Corporate

 

50

 

 

 

 

50

 

50

 

Total non-cash expenses

 

297

 

1,224

 

3,284

 

 

4,805

 

4,805

 

Grand total

 

$

874

 

$

5,092

 

$

5,550

 

$

770

 

$

12,286

 

$

13,270