America Online 2010 Annual Report Download - page 104

Table of Contents
AOL INC.
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Time Warner received cash from the exercise of Time Warner stock options by AOL employees totaling $13.0 million and $90.9 million for the years ended
December 31, 2009 and 2008, respectively. The tax benefits realized by AOL from Time Warner stock options exercised in the years ended December 31,
2009 and 2008 were approximately $1.2 million and $15.4 million, respectively.
Time Warner Restricted Stock and Restricted Stock Units
The fair value of Time Warner restricted stock and RSUs granted to AOL employees that vested during the years ended December 31, 2009 and 2008
was $12.1 million and $5.4 million, respectively.
For the year ended December 31, 2009, 0.5 million Time Warner RSUs were granted to AOL employees at a weighted-average grant date fair value per
RSU of $18.14. For the year ended December 31, 2008, 0.8 million Time Warner RSUs were granted to AOL employees at a weighted-average grant date fair
value per RSU of $44.13. Time Warner RSUs held by most employees at the date of spin-off were either vested or forfeited as a result of the spin-off.
Following the spin-off, there are no outstanding unvested Time Warner RSUs held by AOL employees.
NOTE 9—RESTRUCTURING COSTS
2010 Restructuring Costs
In connection with the Company's restructuring initiatives, the Company incurred $33.8 million in restructuring costs for the year ended December 31,
2010 to better align its organizational structure and costs with its strategy. These restructuring costs included $29.2 million related to employee terminations,
facility closures and contract termination costs in 2010 and $4.6 million in restructuring costs associated with actions taken in 2009 and prior years (which
includes adjustments to previous estimates). Employee termination costs were attributable to terminations of employees ranging from senior executives to line
personnel.
2009 Restructuring Costs
For the year ended December 31, 2009, the Company undertook various restructuring activities in an effort to better align its organizational structure
and costs with its strategy. As a result, the Company incurred $189.2 million in restructuring costs, which included $183.9 million in restructuring costs
related to employee terminations, facility closures and other exit activities in 2009, and $5.3 million in restructuring costs associated with actions taken in
2008 and prior years (which includes adjustments to previous estimates). Employee termination costs were attributable to terminations of employees ranging
from senior executives to line personnel.
2008 Restructuring Costs
For the year ended December 31, 2008, the Company incurred $16.6 million in restructuring costs, which included $7.2 million in restructuring costs
related to employee terminations, facility closures and other exit activities in 2008, and $9.4 million in restructuring costs associated with actions taken in
2007 and prior years (which includes adjustments to previous estimates). Employee termination costs were attributable to terminations of employees ranging
from senior executives to line personnel.
100