Restructuring Charges

12 Months Ended

Dec. 31, 2012

Note 9—Restructuring Charges

During 2012, Advent recorded a restructuring charge of $3.6 million primarily related to the severance and benefit costs associated with a re-organization program.

During 2011, Advent recorded a restructuring charge of $0.7 million which primarily related to the severance and benefit costs associated with a reduction-in-force and the present value amortization of facility exit obligations, partially offset by adjustments to other facility exit assumptions.

During 2010, Advent recorded a restructuring charge of $0.8 million which primarily related to facility and exit costs associated with the relocation and consolidation of the facilities in New York City and Boston during the second and fourth quarter of 2010, respectively.

The following table sets forth an analysis of the changes in the restructuring accrual during fiscal 2010, 2011 and 2012 (in thousands):

	Facility Exit Costs			Severance and Benefits			Total

Balance of restructuring accrual at December 31, 2009	$	1,234		$	—		$	1,234
Restructuring charges		788			—			788
Reversal of deferred rent related to facilities exited		29			—			29
Cash payments		(763	)		—			(763	)
Accretion of prior restructuring costs		52			—			52

Balance of restructuring accrual at December 31, 2010	$	1,340		$	—		$	1,340
Restructuring charges		67			602			669
Reversal of deferred rent related to facilities exited		60			—			60
Cash payments		(1,046	)		—			(1,046	)
Accretion of prior restructuring costs		27			—			27

Balance of restructuring accrual at December 31, 2011	$	448		$	602		$	1,050
Restructuring charges		76			3,554			3,630
Cash payments		(524	)		(1,018	)		(1,542	)
Accretion of prior restructuring costs		4			—			4

Balance of restructuring accrual at December 31, 2012	$	4		$	3,138		$	3,142

Of the remaining restructuring accrual of $3.1 million at December 31, 2012, $2.6 million is included in "Accrued liabilities" in the accompanying consolidated balance sheet. Advent expects to pay the accrued severance and benefit obligations of $3.1 million by September 30, 2013.

- Definition

The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled.

+ References+ Details