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RESTRUCTURING | 12 Months Ended
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Dec. 31, 2011
RESTRUCTURING |
RESTRUCTURING |
NOTE 11—RESTRUCTURING Restructuring Costs During fiscal 2011, the Company recorded approximately $2.4 million in restructuring charges of which $2.4 million was related to the 2009 Restructuring Plan and an immaterial amount was related to the 2008 Restructuring Plan. During fiscal 2010, the Company recorded approximately $16.0 million in restructuring charges of which $15.7 million was related to the 2009 Restructuring Plan and $0.3 million was related to the 2008 Restructuring Plan. The following describes the Company's restructuring initiatives. 2009 Restructuring Plan On June 9, 2009, the Board of Directors of the Company approved the 2009 Restructuring Plan designed to reduce the Company's operating costs. The 2009 Restructuring Plan includes a worldwide reduction in force of approximately 50% of the Company's headcount, or approximately 2,300 employees located primarily in China and the United States and, to a lesser degree, other international locations. During the year ended December 31, 2011, the Company recorded restructuring costs of approximately $2.4 million related to the 2009 Restructuring Plan, net of approximately $1.6 million of reversal of charges due to changes in estimates. The restructuring costs for the year ended December 31, 2011 consist primarily of $2.1 million for severance and benefits related to approximately 50 employees included in the 2009 Restructuring Plan, adjusted for changes in estimate in termination date of employees, and approximately $0.3 million of lease exit costs primarily related to a lease expiring in 2013. During the year ended December 31, 2010, the Company recorded restructuring costs of approximately $15.7 million related to the 2009 Restructuring Plan, net of approximately $2.1 million of reversal of charges recorded in prior periods due to changes in estimates. The restructuring costs for the year ended December 31, 2010 consist primarily of $14.6 million for severance and benefits related to approximately 200 employees included in the 2009 Restructuring Plan, adjusted for changes in estimate in termination date of employees, and approximately $1.1 million of lease exit costs primarily related to a lease expiring in 2013. Total restructuring costs recorded through December 31, 2011 related to the 2009 Restructuring Plan approximated $58.1 million. 2008 Restructuring Plan During fiscal 2008, the Company implemented a restructuring plan, or 2008 Restructuring Plan, and recorded $13.1 million in restructuring charges primarily related to a global reduction in force across all functions and employee terminations at certain non-core operations which the Company was in the process of winding down. The total number of employees affected totaled approximately 750, including 350 in China, 200 in Korea and 200 in other locations including the United States. During the year ended December 31, 2011, the Company recorded an immaterial amount of additional restructuring costs related to the 2008 Restructuring Plan, for severance and benefit costs being recognized over the remaining service period for employees included in the 2008 Restructuring Plan. During the year ended December 31, 2010, the Company recorded additional restructuring costs related to the 2008 Restructuring Plan of approximately $0.3 million, for severance and benefit costs being recognized over the remaining service period for employees included in the 2008 Restructuring Plan. Total restructuring costs recorded through December 31, 2011 related to the 2008 Restructuring Plan approximated $19.7 million. At December 31, 2011, the 2008 Restructuring Plan was completed. 2007 Restructuring Plan At June 30, 2010, the 2007 Restructuring Plan was complete. The activity in the accrued restructuring balances related to all the plans described above was as follows for the year ended December 31, 2011:
|  | Balance at December 31, 2010 |  | Restructuring Charges |  | Cash Payments |  | Non-cash Settlement |  | Balance at December 31, 2011 |
--- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | ---
|  | (in thousands) |
2009 Restructuring Plan |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Workforce Reduction |  | $ | 9,425 |  | $ | 2,052 |  | $ | (11,246 | ) | $ | — |  | $ | 231 |
Lease Costs |  |  | 1,971 |  |  | 312 |  |  | (822 | ) |  | — |  |  | 1,461 |
Other Costs |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total 2009 Restructuring Plan |  |  | 11,396 |  |  | 2,364 |  |  | (12,068 | ) |  | — |  |  | 1,692 |
2008 Restructuring Plan |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Workforce Reduction |  |  | 21 |  |  | 22 |  |  | (43 | ) |  | — |  |  | — |
Lease Costs |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Other Costs |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total 2008 Restructuring Plan |  |  | 21 |  |  | 22 |  |  | (43 | ) |  | — |  |  | — |
Total |  | $ | 11,417 |  | $ | 2,386 |  | $ | (12,111 | ) | $ | — |  | $ | 1,692 |
The activity in the accrued restructuring balances related to the plans described above was as follows for the years ended December 31, 2009 and 2010:
|  | Balance at December 31, 2008 |  | Restructuring Charges |  | Cash Payments |  | Non-cash Settlement of Stock-based Compensation |  | Balance at December 31, 2009 |  | Restructuring Charges |  | Cash Payments |  | Non-cash Settlement of Stock-based Compensation |  | Balance at December 31, 2010 |
--- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | ---
|  |  |  | (in thousands) |
2009 Restructuring Plan |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Workforce Reduction |  | $ | — |  | $ | 38,040 |  | $ | (18,704 | ) | $ | (2,397 | ) | $ | 16,939 |  | $ | 14,613 |  | $ | (20,075 | ) | $ | (2,052 | ) | $ | 9,425 |
Lease Costs |  |  | — |  |  | 1,923 |  |  | (407 | ) |  | — |  |  | 1,516 |  |  | 1,052 |  |  | (597 | ) |  | — |  |  | 1,971 |
Other Costs |  |  | — |  |  | 13 |  |  | (7 | ) |  | — |  |  | 6 |  |  | 45 |  |  | — |  |  | (51 | ) |  | — |
Total 2009 Restructuring Plan |  |  | — |  |  | 39,976 |  |  | (19,118 | ) |  | (2,397 | ) |  | 18,461 |  |  | 15,710 |  |  | (20,672 | ) |  | (2,103 | ) |  | 11,396 |
2008 Restructuring Plan |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Workforce Reduction |  |  | 7,976 |  |  | 5,348 |  |  | (10,418 | ) |  | (380 | ) |  | 2,526 |  |  | 338 |  |  | (2,843 | ) |  | — |  |  | 21 |
Lease Costs |  |  | 249 |  |  | 1,075 |  |  | (939 | ) |  | — |  |  | 385 |  |  | — |  |  | (385 | ) |  | — |  |  | — |
Other Costs |  |  | 498 |  |  | (108 | ) |  | (360 | ) |  | — |  |  | 30 |  |  | (30 | ) |  | — |  |  | — |  |  | — |
Total 2008 Restructuring Plan |  |  | 8,723 |  |  | 6,315 |  |  | (11,717 | ) |  | (380 | ) |  | 2,941 |  |  | 308 |  |  | (3,228 | ) |  | — |  |  | 21 |
2007 Restructuring Plan |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Workforce Reduction |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Lease Costs |  |  | 788 |  |  | 204 |  |  | (687 | ) |  | — |  |  | 305 |  |  | — |  |  | (305 | ) |  | — |  |  | — |
Total 2007 Restructuring Plan |  |  | 788 |  |  | 204 |  |  | (687 | ) |  | — |  |  | 305 |  |  | — |  |  | (305 | ) |  | — |  |  | — |
Total |  | $ | 9,511 |  | $ | 46,495 |  | $ | (31,522 | ) | $ | (2,777 | ) | $ | 21,707 |  | $ | 16,018 |  | $ | (24,205 | ) | $ | (2,103 | ) | $ | 11,417 |

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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 2 -Subparagraph (SAB TOPIC 5.P.4) -URI http://asc.fasb.org/extlink&oid=6394695&loc=d3e140904-122747 Reference 2: 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 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 146 -Paragraph 20 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 5 -Section P -Subsection 3, 4 Reference 5: 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=6394695&loc=d3e140864-122747 + Details
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