Yahoo 2013 Annual Report Download - page 124
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The activity in the Company’s restructuring accruals for the years ended December 31, 2012 and 2013 is
summarized as follows (in thousands):
Restructuring
Plans Prior to
2012
Q2’12
Restructuring
Plan
Q4’12
Korea Business
Closure
Q4’13
Restructuring
Plan Total
Balance as of January 1, 2012 ......... $49,127 $ — $ — $ — $ 49,127
Employee severance pay and related
costs ........................... 5,924 128,701 4,998 — 139,623
Non-cash reversals of stock-based
compensation expense ............. — (3,429) — — (3,429)
Non-cancelable lease, contract
termination, and other charges ....... 8,792 9,997 8,996 — 27,785
Other non-cash charges, net ........... — 40,462 69,434 — 109,896
Changes in estimates and reversals of
previous charges .................. (5,085) (32,620) — — (37,705)
Restructuring charges, net for the year
ended December 31, 2012 .......... $ 9,631 $143,111 $ 83,428 $ — $ 236,170
Cash paid ......................... (30,746) (68,018) (4,307) — (103,071)
Non-cash reversals of stock-based
compensation expense ............. — 3,429 — — 3,429
Other non-cash charges, net ........... (232) (40,148) (69,157) — (109,537)
Foreign currency .................... (64) (3,325) 138 — (3,251)
Balance as of December 31, 2012 ...... $27,716 $ 35,049 $ 10,102 $ — $ 72,867
Employee severance pay and related
costs ........................... 28 6,722 443 5,144 12,337
Non-cancelable lease, contract
termination, and other charges ....... 14,407 164 1,251 — 15,822
Other non-cash charges .............. — — 547 — 547
Changes in estimates and reversals of
previous charges .................. (1,000) (22,123) (1,817) — (24,940)
Restructuring charges (reversals), net for
the year ended December 31, 2013 . . . $ 13,435 $ (15,237) $ 424 $5,144 $ 3,766
Cash paid ......................... (19,082) (16,829) (9,471) (624) (46,006)
Other non-cash charges .............. — — (547) — (547)
Foreign currency .................... 280 (218) (171) 125 16
Balance as of December 31, 2013 ...... $22,349 $ 2,765 $ 337 $4,645 $ 30,096
As of December 31, restructuring accruals were included in the Company’s consolidated balance sheets as
follows (in thousands):
2012 2013
Accrued expenses and other current liabilities ..................................... $57,642 $21,741
Capital lease and other long-term liabilities ....................................... 15,225 8,355
Total restructuring accruals ................................................ $72,867 $30,096
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