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Sensata Technologies Holding N.V.'s SEC Filings

S-1/A
SENSATA TECHNOLOGIES HOLDING PLC filed this Form S-1/A on 03/09/2010
Entire Document
 


Table of Contents

Summary of Restructuring Programs

 

The following tables outline amounts associated with all of the Company’s restructuring programs described above, including the costs related to pension, and where in the consolidated statements of operations these amounts were recognized for the years ended December 31, 2009 and 2008.

 

    First Technology
Automotive Plan
    Airpax Plan     2008 Plan     Total  

For the year ended December 31, 2009

       

Restructuring

  $ (235   $ —        $ 18,321      $ 18,086   

Currency translation (gain)/loss and other, net

    —          —          (235     (235
                               

Total

  $ (235   $ —        $ 18,086      $ 17,851   
                               
    First Technology
Automotive Plan
    Airpax Plan     2008 Plan     Total  

For the year ended December 31, 2008

       

Restructuring

  $ 1,111      $ —        $ 23,013      $ 24,124   

Currency translation (gain)/loss and other, net

    —          (236     (165     (401
                               

Total

  $ 1,111      $ (236   $ 22,848      $ 23,723   
                               

 

Additionally, during fiscal year 2007, the Company implemented voluntary early retirement programs in its foreign operations. These programs offered eligible employees special termination benefits, including severance and outplacement service, in exchange for their early retirement from the Company. As a result of these programs, sixty-four employees chose to leave the Company, opting for voluntary early retirement which resulted in a charge of $5,166 related to severance costs during the year ended December 31, 2007. No curtailment or settlement gain or loss was recognized as the Company’s retirement obligation was not significantly impacted as a result of the Plan.

 

The following table outlines the current and long-term components of the restructuring liabilities for all plans recognized in the consolidated balance sheets as of December 31, 2009 and 2008:

 

     December 31,
2009
   December 31,
2008

Current liabilities

   $ 4,219    $ 17,642

Long-term liabilities

     2,148      1,658
             
   $ 6,367    $ 19,300
             

 

10. Accrued expenses and other current liabilities

 

Accrued expenses and other current liabilities as of December 31, 2009 and 2008 consist of the following:

 

     December 31,
2009
   December 31,
2008

Accrued interest

   $ 27,595    $ 11,708

Accrued bonuses

     5,503      1,048

Accrued salaries, wages and vacation pay

     14,795      17,183

Accrued taxes

     7,911      6,296

Accrued restructuring expenses

     4,219      17,642

Accrued professional fees

     2,818      4,708

Accrued offering costs

     2,090      —  

Accrued freight, utility and insurance charges

     7,055      5,376

Current portion of pension and post-retirement benefit obligations

     832      3,165

Deferred income

     2,262      6,296

Other accrued expenses and current liabilities

     16,661      13,314
             

Total

   $ 91,741    $ 86,736
             

 

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