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WDC » Topics » Recognition of Liabilities in Connection with Komag Acquisition

These excerpts taken from the WDC 10-K filed Aug 20, 2008.
Recognition of Liabilities in Connection with Komag Acquisition
 
Under EITF 95-3, “Recognition of Liabilities in Connection with a Business Combination”, the Company accrued certain exit costs aggregating $40 million, which relate to employee severance and the cash payment for equity related liabilities payable to Komag employees. The following table summarizes the Company’s exit activities in connection with the Acquisition (in millions):
 
         
    Severance
 		 
    and
 		 
    Related  
 
Accrued exit costs, September 5, 2007
  $ 40  
Cash payments
    (32 )
         
Accrued exit costs, June 27, 2008
  $ 8  
         
 
As of June 27, 2008, the accrued exit costs of $8 million are expected to be paid out through April 2010.
 
Recognition
of Liabilities in Connection with Komag Acquisition


 



Under
EITF 95-3,
“Recognition of Liabilities in Connection with a Business
Combination”, the Company accrued certain exit costs
aggregating $40 million, which relate to employee severance
and the cash payment for equity related liabilities payable to
Komag employees. The following table summarizes the
Company’s exit activities in connection with the
Acquisition (in millions):


 




































































         

 

 

Severance



 

 

 

and



 

 

 

Related

 
 


Accrued exit costs, September 5, 2007


 

$

40

 


Cash payments


 

 

(32

)

 

 

 

 

 


Accrued exit costs, June 27, 2008


 

$

8

 

 

 

 

 

 






 



As of June 27, 2008, the accrued exit costs of
$8 million are expected to be paid out through April 2010.


 




EXCERPTS ON THIS PAGE:

10-K (2 sections)
Aug 20, 2008

RELATED TOPICS for WDC:

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