Restructuring and Related Activities

3 Months Ended

Jun. 30, 2011

Restructuring and Related Activities

Restructuring and Related Activities Disclosure [Text Block]

4.  RESTRUCTURING CHARGES

In response to shifting supply and demand balances and the changing business models of the Company’s customers, the Company began implementing several strategic initiatives during the third quarter of fiscal 2011.  The initiatives will continue over the coming quarters as the Company continues to define and execute the necessary changes to support core business functions.  The following table summarizes the restructuring charges recorded in the Company’s reporting segments during the three months and six months ended September 30, 2011:

	Three Months	Six Months
	Ended	Ended
Restructuring Charges	September 30, 2011	September 30, 2011
Employee separation and other cash charges:
Beginning balance	$ 5,220	$ 6,193
Period charges:
Severance charges (recovery)	(13)	725
Other cash charges	-	31
Total period charges	(13)	756
Payments through September 30	(1,414)	(3,156)
Ending balance September 30	$ 3,793	$  3,793
Non-current asset impairment	760	760
Total restructuring charges for the period	$   747	$ 1,516

          Non-current asset impairments are primarily for non-tobacco internally developed software intangible assets and real property in Macedonia.

         The following table summarizes the employee separation and other cash charges recorded in the Company’s South America and Other Regions segments during the three months and six months ended September 30, 2011:

	Three Months		Six Months
	Ended		Ended
Employee Separation and Other Cash Charges	September 30, 2011	September 30, 2011
Beginning balance:	$ 5,220		$ 6,193
South America	993		1,073
Other regions	4,227		5,120
Period charges:	$ (13)		$ 756
South America	419		419
Other regions	(432)		337
Payments through September 30:	$ (1,414)		$ (3,156)
South America	(867)		(947)
Other regions	(547)		(2,209)
Ending balance September 30:	$ 3,793		$ 3,793
South America	545		545
Other regions	3,248		3,248