This excerpt taken from the A 10-Q filed Mar 10, 2005.
In the first quarter of 2005, we had activity related to two remaining restructuring plans one initiated in the fourth quarter of 2001 (the 2001 Plan) and one initiated in the first quarter of 2003 (the 2003 Plan). We have executed all key actions on both remaining plans. Although both plans are in the process of winding down, we do expect some further workforce reduction charges related to the 2003 plan throughout 2005. In addition, there may be future changes in estimates for the consolidation of excess facilities related to changes in market conditions from those originally expected at the time the charges were recorded.
A summary of restructuring activity for all plans from October 31, 2004 through January 31, 2005 is shown in the table below:
The restructuring accruals for all plans, which totaled $70 million as of January 31, 2005 and $87 million as of October 31, 2004 are recorded in other accrued liabilities on the condensed consolidated balance sheet and represent estimated future cash outlays. Lease payments are expected over the next 5 years.
A summary of the statement of operations impact of the charges resulting from all of the restructuring plans is shown below: