Yahoo 2014 Annual Report Download - page 68
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Restructuring Charges, Net
For the years ended December 31, 2012, 2013, and 2014, restructuring charges, net was comprised of
the following (dollars in thousands):
Year Ended December 31,
2012 2013 2014
Employee severance pay and related costs
$139,623 $ 12,337 $ 30,749
Non-cancelable lease, contract termination, and other charges
27,785 15,822 79,317
Non-cash reversals of stock-based compensation expense
(3,429) — —
Other non-cash charges (credits), net
109,896 547 (3,394)
Changes in estimates and reversals of previous charges
(37,705) (24,940) (3,222)
Restructuring charges, net
$236,170 $ 3,766 $103,450
We have implemented various restructuring plans to reduce our cost structure, align resources with
our product strategy and improve efficiency, which have resulted in workforce reductions and the
consolidation of certain real estate facilities and data centers. During the year ended December 31,
2012, we recorded expense of $103 million, $45 million, and $88 million related to the Americas,
EMEA, and Asia Pacific segments, respectively. For the year ended December 31, 2013, we recorded
expense of $1 million, $3 million, and less than $1 million related to the Americas, EMEA, and Asia
Pacific segments, respectively. For the year ended December 31, 2014, we recorded expense of $76
million, $25 million, and $2 million related to the Americas, EMEA, and Asia Pacific segments,
respectively. The amounts recorded during the year ended December 31, 2014 were primarily related
to the consolidation of a data center as we ceased use of that facility pursuant to a restructuring plan
we initiated in 2011 and severance charges related to restructuring plans that we initiated in 2014 as
part of our location strategy and to align resources.
The $84 million restructuring liability as of December 31, 2014 consists of $16 million for employee
severance expenses, which we expect to pay out by the end of the third quarter of 2015, and $68
million related to non-cancelable lease costs, which we expect to pay over the terms of the related
obligations through the fourth quarter of 2021, less estimated sublease income.
See Note 15—“Restructuring charges, net” in the Notes to our consolidated financial statements for
additional information.
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