Yahoo 2013 Annual Report Download - page 122
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Year Ended December 31, 2013
Restructuring
Plans Prior to
2012
Q2’12
Restructuring
Plan
Q4’12
Korea Business
Closure
Q4’13
Restructuring
Plan Total
Employee severance pay and related costs
(reversals) ........................ $ (459) $(15,401) $ (103) $ 5,144 $(10,819)
Non-cancelable lease, contract
terminations, and other charges ....... 13,894 164 (20) — 14,038
Other non-cash charges ............... — — 547 — 547
Restructuring charges
(reversal), net ................. $13,435 $(15,237) $ 424 $ 5,144 $ 3,766
Although the Company does not allocate restructuring charges to its segments, the amounts of the restructuring
charges relating to each segment are presented below. For the years ended December 31, 2011, 2012, and 2013,
restructuring charges, net consists of the following (in thousands):
Year Ended
December 31, 2011
Restructuring Plans
Prior to 2012
Americas ................................................................... $22,244
EMEA ..................................................................... 952
Asia Pacific ................................................................. 1,224
Restructuring charges, net .................................................. $24,420
Year Ended December 31, 2012
Restructuring
Plans Prior to
2012
Q2’12
Restructuring
Plan
Q4’12
Korea Business
Closure Total
Americas ...................................... $9,834 $ 92,789 $ — $102,623
EMEA ........................................ (617) 45,977 — 45,360
Asia Pacific .................................... 414 4,345 83,428 88,187
Restructuring charges, net ..................... $9,631 $143,111 $83,428 $236,170
Year Ended December 31, 2013
Restructuring
Plans Prior to
2012
Q2’12
Restructuring
Plan
Q4’12
Korea Business
Closure
Q4’13
Restructuring
Plan Total
Americas .......................... $ 8,212 $ (7,641) $ — $ — $ 571
EMEA ............................ 4,716 (6,998) — 5,144 2,862
Asia Pacific ........................ 507 (598) 424 — 333
Restructuring charges, net ......... $13,435 $(15,237) $ 424 $ 5,144 $ 3,766
Restructuring Plans Prior to 2012. Prior to 2012, the Company implemented workforce reductions, a strategic
realignment, and consolidation of certain real estate facilities and data centers to reduce its cost structure, align
resources with its product strategy, and improve efficiency. During the year ended December 31, 2011, the
Company incurred total pre-tax cash charges of $23 million in severance, facility and other related costs, net of
reversal for adjustments to original estimates totaling $12 million. In addition to the pre-tax cash charges, the
Company recorded a non-cash charge of $1 million related to asset impairment. Of the $24 million in
restructuring charges, net recorded in the year ended December 31, 2011, $22 million related to the Americas
segment, $1 million related to the EMEA segment, and $1 million related to the Asia Pacific segment. During the
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