Yahoo 2011 Annual Report Download - page 49

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through the second quarter of 2012. During the year ended December 31, 2011, we incurred total pre-tax cash
charges of approximately $9 million in severance, facility and other related costs related to the Q411
restructuring plan. In addition to the pre-tax cash charges, we recorded a non-cash charge of approximately $2
million, the majority of which related to non-cash stock-based compensation expense for the acceleration of
certain executives’ stock awards. Of the $11 million in net restructuring charges recorded in the fourth quarter of
2011, $9 million related to the Americas segment, $1 million related to the EMEA segment and $1 million
related to the Asia Pacific segment. As of December 31, 2011, the aggregate outstanding restructuring liability
related to the Q411 restructuring plan was $9 million which we expect to substantially pay out by the end of the
fourth quarter of 2012.
In addition to the charges described above, we currently expect to incur future charges of approximately $16
million to $21 million primarily related to non-cancelable operating costs and accretion related to exited facilities
identified as part of the Q408 restructuring plan. Of the total future charges, $15 million to $20 million relate to
the Americas segment, $1 million relates to the EMEA segment, and no charges relate to the Asia Pacific
segment. The future charges are expected to be recorded through 2017. See Note 15—“Restructuring charges,
net” in the Notes to the consolidated financial statements for additional information.
Other Income, Net. Other income, net was as follows (in thousands):
Years Ended December 31, 2009-2010
Dollar Change
2010-2011
Dollar Change2009 2010 2011
Interest and investment income $ 22,116 $ 23,062 $18,920 $ 946 $ (4,142)
Gain on sales of marketable equity securities 164,851 — — (164,851) —
Gain on sale of Zimbra, Inc. — 66,130 — 66,130 (66,130)
Gain on sale of HotJobs — 186,345 — 186,345 (186,345)
Other 561 22,332 8,255 21,771 (14,077)
Total other income, net $187,528 $297,869 $27,175 $ 110,341 $(270,694)
Interest and investment income consists of income earned from cash in bank accounts and investments made in
marketable debt securities and money market funds.
In February 2010, we sold Zimbra, Inc., for net proceeds of $100 million and recorded a pre-tax gain of $66
million. In August 2010, we sold HotJobs for net proceeds of $225 million and recorded a pre-tax gain of $186
million. Other consists of foreign exchange gains and losses due to re-measurement of monetary assets and
liabilities denominated in non-functional currencies, gains/losses from sales or impairments of marketable debt
securities and/or investments in privately-held companies, and other non-operating items.
Other income, net may fluctuate in future periods due to changes in our average investment balances, changes in
interest and foreign exchange rates, changes in the fair value of foreign currency forward contracts, realized gains
and losses on investments, and impairments of investments.
47