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Table of Contents
AOL INC.
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
AOL employees totaling $13.0 million for the year ended December 31, 2009. The tax benefits realized by AOL from Time Warner stock options exercised in
the year ended December 31, 2009 was approximately $1.2 million.
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 year ended December 31, 2009 was $12.1
million.
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. 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
2011 Restructuring Costs
In connection with the Company's restructuring initiatives, the Company incurred $38.3 million in restructuring costs for the year ended December 31,
2011 related to organizational changes made in an effort to improve its ability to execute its strategy. These restructuring costs related to the Company's
acquisition of The Huffington Post, a reassessment of its operations in India and actions in the United States to align the Company's costs with its strategy,
and were primarily related to involuntary terminations of employees ranging from executives to line personnel.
2010 Restructuring Costs
For the year ended December 31, 2010, the Company incurred $33.8 million in restructuring costs 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.
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