Yahoo 2014 Annual Report Download - page 146
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The Company’s restructuring accrual activity for the years ended December 31, 2013 and 2014 is
summarized as follows (in thousands):
Total
Accrual balance as of December 31, 2012
$ 72,867
Restructuring charges
3,766
Cash paid
(46,006)
Foreign currency translation and other adjustments
(531)
Accrual Balance as of December 31, 2013
$ 30,096
Restructuring charges
103,450
Cash paid
(52,301)
Foreign currency translation and other adjustments
2,363
Accrual Balance as of December 31, 2014
$ 83,608
The $84 million restructuring liability as of December 31, 2014 consists of $16 million for employee
severance expenses, which the Company expects to pay out by the end of the third quarter of 2015,
and $68 million related to non-cancelable lease costs, which the Company expects to pay over the
terms of the related obligations through the fourth quarter of 2021, less estimated sublease income.
As of December 31, restructuring accruals were included on the Company’s consolidated balance
sheets as follows (in thousands):
2013 2014
Accrued expenses and other current liabilities
$21,741 $47,356
Other long-term liabilities
8,355 36,252
Total restructuring accruals
$30,096 $83,608
As of December 31, restructuring accruals by segment consisted of the following (in thousands):
2013 2014
Americas
$18,078 $65,949
EMEA
11,284 16,797
Asia Pacific
734 862
Total restructuring accruals
$30,096 $83,608
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