DBD » Topics » Newark Plan

These excerpts taken from the DBD 10-K filed Feb 27, 2009.
Newark Plan
 
During the second quarter of 2008, the Company announced a plan (Newark plan) to close its manufacturing facility in Newark, Ohio as part of its continued focus on its strategic global manufacturing realignment. As of December 31, 2008, the Company anticipates remaining total costs related to the closure of this facility to be approximately $1,300. The Company anticipates the closure of this facility to be substantially complete by the end of the first quarter of 2009. For the year ended December 31, 2008, the Company incurred $9,125 through product cost of sales.
 
There were no restructuring expenses related to the Company’s DI and ES & Other operating segments during the year ended December 31, 2008 for the Newark Plan. Restructuring expenses for the Newark Plan are presented in the following table:
 
         
    DNA  
 
Total amount expected to be incurred
       
Employee severance costs
  $ 1,318  
Other(1)
    9,107  
         
Total expected costs
  $ 10,425  
         
Amount incurred during the year ended December 31, 2008
       
Employee severance costs
  $ 968  
Other(1)
    8,157  
         
Total costs
  $ 9,125  
         
Amount incurred to date under the plan
       
Employee severance costs
  $ 968  
Other(1)
    8,157  
         
Total costs incurred to date
  $ 9,125  
         
 
(1) Other costs include pension obligation.
 
The restructuring accrual related to the Newark plan is presented in the following table:
 
                                 
    Balance
    Liabilities
    Liabilities
    Balance
 
    January 1, 2008     Incurred     Paid/Settled     Dec 31, 2008  
Employee severance costs
  $   —     $ 968     $ 366     $ 602  
Other
          8,157       1,422       6,735  
                                 
Total
  $     $ 9,125     $ 1,788     $ 7,337  
                                 

79 


Table of Contents

 
DIEBOLD INCORPORATED AND SUBSIDIARIES
FORM 10-K as of December 31, 2008

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(in thousands, except per share amounts)
 
Newark Plan
 
During the second quarter of 2008, the Company announced a plan (Newark plan) to close its manufacturing facility in Newark, Ohio as part of its continued focus on its strategic global manufacturing realignment. As of December 31, 2008, the Company anticipates remaining total costs related to the closure of this facility to be approximately $1,300. The Company anticipates the closure of this facility to be substantially complete by the end of the first quarter of 2009. For the year ended December 31, 2008, the Company incurred $9,125 through product cost of sales.
 
There were no restructuring expenses related to the Company’s DI and ES & Other operating segments during the year ended December 31, 2008 for the Newark Plan. Restructuring expenses for the Newark Plan are presented in the following table:
 
         
    DNA  
 
Total amount expected to be incurred
       
Employee severance costs
  $ 1,318  
Other(1)
    9,107  
         
Total expected costs
  $ 10,425  
         
Amount incurred during the year ended December 31, 2008
       
Employee severance costs
  $ 968  
Other(1)
    8,157  
         
Total costs
  $ 9,125  
         
Amount incurred to date under the plan
       
Employee severance costs
  $ 968  
Other(1)
    8,157  
         
Total costs incurred to date
  $ 9,125  
         
 
(1) Other costs include pension obligation.
 
The restructuring accrual related to the Newark plan is presented in the following table:
 
                                 
    Balance
    Liabilities
    Liabilities
    Balance
 
    January 1, 2008     Incurred     Paid/Settled     Dec 31, 2008  
Employee severance costs
  $   —     $ 968     $ 366     $ 602  
Other
          8,157       1,422       6,735  
                                 
Total
  $     $ 9,125     $ 1,788     $ 7,337  
                                 

79 


Table of Contents

 
DIEBOLD INCORPORATED AND SUBSIDIARIES
FORM 10-K as of December 31, 2008

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(in thousands, except per share amounts)
 

EXCERPTS ON THIS PAGE:

10-K (2 sections)
Feb 27, 2009

RELATED TOPICS for DBD:

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