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EXCEL - IDEA: XBRL DOCUMENT - PROGRESS SOFTWARE CORP /MAFinancial_Report.xls
10-Q - FORM 10-Q - PROGRESS SOFTWARE CORP /MAd309055d10q.htm
XML - IDEA: XBRL DOCUMENT - PROGRESS SOFTWARE CORP /MAR2.htm
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EX-10.1 - TERMINATION AGREEMENT - PROGRESS SOFTWARE CORP /MAd309055dex101.htm
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v2.4.0.6
Restructuring Charges
3 Months Ended
Feb. 29, 2012
Restructuring Charges [Abstract]  
Restructuring Charges

Note 12: Restructuring Charges

During the first and third quarters of fiscal 2010, our management approved, committed to and initiated plans to restructure and improve efficiencies in our operations as a result of certain management and organizational changes and acquisitions. We reduced our global workforce primarily within the development, sales and administrative organizations. This workforce reduction was conducted across all geographies and also resulted in a consolidation of offices in certain location. The total costs of the fiscal 2010 restructurings primarily relate to employee severance and excess facilities expenses. The excess facilities and other costs represent facilities costs for unused space and termination costs for automobile leases of employees included in the workforce reduction.

As part of these restructuring activities, we have recorded cumulative expenses totaling $44.6 million, of which $9.3 million represents excess facilities and other costs and $35.3 million represents employee severances and related benefits. There were no charges to restructuring expense in the first quarter of fiscal 2012 and we do not expect to incur additional expenses related to these activities. The expenses are recorded as restructuring expense in the condensed consolidated statements of income.

A summary of activity for the restructuring actions is as follows (in thousands):

 

     Excess
Facilities and
Other Costs
    Employee
Severance and
Related Benefits
    Total  

Balance, December 1, 2011

   $ 4,913      $ 698      $ 5,611   

Cash disbursements

     (651     (179     (830

Translation adjustments and other

     326        —          326   
  

 

 

   

 

 

   

 

 

 

Balance, February 29, 2012

   $ 4,588      $ 519      $ 5,107   
  

 

 

   

 

 

   

 

 

 

Cash disbursements for excess facilities costs are presented net of proceeds received from sublease agreements. The balance of the excess facilities and related costs is expected to be paid over a period of time ending in fiscal 2013. The balance of the employee severance and related benefits is expected to be paid over a period of time ending in December 2012.

The short-term portion of the restructuring reserve of $3.7 million is included in other accrued liabilities and the long-term portion of $1.4 million is included in other noncurrent liabilities on the condensed consolidated balance sheet at February 29, 2012.