Impairment of Long-lived Assets and Insurance Recoveries

3 Months Ended

Mar. 31, 2012

Impairment of Long-lived Assets and Insurance Recoveries [Abstract]

Impairment of Long-lived Assets and Insurance Recoveries

Note 6 - Impairment of Long-lived Assets and Insurance Recoveries

During the first quarter of 2012, the Company recorded impairment charges in the amount of $65 related to leasehold improvements no longer being utilized as a result of an office consolidation. During the first quarter of 2011, the Company recorded impairment charges in the amount of $87 related to building improvements at Company facilities that are being combined with other operating facilities or shut-down. Since the impairments relate to the Company's ongoing restructuring and cost reduction initiatives, the impairment charges are included in Acquisition integration and restructuring expenses in the Consolidated Statements of Comprehensive Income. See Note 12 - Acquisition Integration and Restructuring.

The Company maintains insurance coverage for property loss, business interruption, and directors and officers liability and records insurance recoveries in the period in which the insurance carrier validates the claim and confirms the amount of reimbursement to be paid. During the first quarter of 2012, the Company did not receive any insurance settlements. During the first quarter of 2011, the Company received insurance settlements of $93 for business interruption and other expenses related to a 2009 flood at one of its North American operations and $69 related to a recovery of legal fees related to employment issues. The insurance recoveries are reflected in Selling, general and administrative expenses in the Consolidated Statements of Comprehensive Income.