This excerpt taken from the EL 10-Q filed May 3, 2007.
NOTE 5 COST SAVINGS INITIATIVE
During fiscal 2006, the Company recorded special charges associated with a cost savings initiative that was designed to support its long-term financial objectives. As part of this multi-faceted initiative, the Company identified savings opportunities that included streamlined processes and organizational changes. Substantially all employees designated for separation under the cost savings initiative have been separated as of March 31, 2007.
During the nine months ended March 31, 2007, the Company incurred a net additional $0.4 million under this program primarily related to facility closings. At March 31, 2007, the accrued liability related to the cost savings initiative was $30.2 million of which $17.6 million and $12.6 million was reflected as other accrued liabilities and other noncurrent liabilities, respectively, in the accompanying consolidated balance sheet.