Merrill Document Readback jvangb

We use cookies to personalise content and ads, to provide social media features and to analyse traffic. We share info about use of our site with social media, ads and analytics partners. By continuing to browse you are agreeing to use of cookies. See details or close this message.

Page

/59

100%

Specifications	Merrill Document Readback jvangb
Business section

ADOBE SYSTEMS INCORPORATED NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Continued) (Unaudited) 21 In the first quart

Specifications	Merrill Document Readback jvangb
Outline	Table of Contents Part I - Financial Information Item 1. Condensed Consolidated Financial Statements Condensed Consolidated Balance Sheets Condensed Consolidated Statements of Income Condensed Consolidated Statements of Cash Flows Notes to Condensed Consolidated Financial Statements Note 1. Summary of Significant Accounting Policies Note 2. Cash, Cash Equivalents and Short-Term Investments Note 3. Financial Instruments Note 4. Acquisitions Note 5. Goodwill and Purchased Intangibles Note 6. Other Assets Note 7. Accrued Expenses Note 8. Stock-Based Compensation Note 9. Employee Benefit Plan Note 10. Restructuring Charges Note 11. Stockholders Equity Note 12. Comprehensive Income Note 13. Net Income Per Share Note 14. Commitments and Contingencies Note 15. Credit Agreement Note 16. Non-Operating Income (Expense) Note 17. Segments Note 18. Subsequent Events
Suggested Link Details/Purchase
Content	ADOBE SYSTEMS INCORPORATED NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Continued) (Unaudited) 21 In the first quarter of fiscal 2009, we continued to implement restructuring activities under this program. We vacated approximately 89,000 square feet of research and development and sales facilities in the U.S., the United Kingdom and Canada. In accordance with SFAS No. 146, “Accounting for Costs Associated with Exit or Disposal Activities,” we accrued $8.5 million for the fair value of our future contractual obligations under these operating leases using our credit-adjusted risk- free interest rate, estimated at approximately 6% as of the date we ceased to use the leased properties. This amount is net of the fair value of future estimated sublease income of approximately $4.4 million. We also recorded charges of $3.4 million for termination benefits for the elimination of approximately 43 of the remaining 100 full-time positions expected to be terminated. In the second quarter of fiscal 2009, we accrued an additional $3.0 million under this program for termination benefits related to the elimination of approximately 48 of the remaining 57 full-time positions expected to be terminated. In the third quarter of fiscal 2009, we accrued an additional $0.4 million under this program for termination benefits related to the elimination of substantially all of the remaining full-time positions expected to be terminated. The following table sets forth a summary of Adobe restructuring activities during the nine months ended August 28, 2009 (in thousands): November 28, 2008 Costs Incurred Cash Payments Other Adjustments August 28, 2009 Total Costs Incurred to Date Total Costs Expected to be Incurred Termination benefits . $ 28,759 $ 6,722 $ (34,042 ) $ 174 $ 1,613 $ 36,102 $ 36,121 Cost of closing redundant facilities . — 8,514 (4,488 ) 613 4,639 9,127 9,601 Total . $ 28,759 $ 15,236 $ (38,530 ) $ 787 $ 6,252 $ 45,229 $ 45,722 Accrued restructuring charges of approximately $6.3 million at August 28, 2009 include $3.3 million recorded in accrued restructuring, current and $3.0 million related to long-term facilities obligations recorded in accrued restructuring, non-current in the accompanying Condensed Consolidated Balance Sheets. We expect to pay substantially all of the accrued termination benefits during the remainder of fiscal 2009. We expect to pay facilities-related liabilities through fiscal 2013. Included in the other adjustments column are foreign currency translation adjustments of $0.5 million and small changes to previous estimates. Macromedia Merger Restructuring Charges We completed our acquisition of Macromedia on December 3, 2005. In connection with this acquisition, we initiated plans to restructure both the pre-merger operations of Adobe and Macromedia to eliminate certain duplicative activities, focus our resources on future growth opportunities and reduce our cost structure. In connection with the worldwide restructuring plan, we recognized costs related to termination benefits for employee positions that were eliminated and for the closure of duplicative facilities. We also recognized costs related to the cancellation of certain contracts associated with the wind-down of subsidiaries and other service contracts held by Macromedia. Costs for termination benefits and contract terminations were completed during fiscal 2007. Total costs incurred were $27.0 million and $3.2 million, respectively. The following table sets forth a summary of Macromedia restructuring activities during the nine months ended August 28, 2009 (in thousands): November 28, 2008 Cash Payments Other Adjustments August 28, 2009 Total Costs Incurred to Date Total Costs Expected to be Incurred Cost of closing redundant facilities . $ 12,168 $ (3,986 ) $ (1,255 ) $ 6,927 $ 41,060 $ 41,060 Other . 977 (879 ) (80 ) 18 2,277 2,277 Total . $ 13,145 $ (4,865 ) $ (1,335 ) $ 6,945 $ 43,337 $ 43,337
Navigation	Previous Page / Next Page
Suggested Link Details/Purchase

Following Datasheets	10Singapore_brand_name_fuels_air_show_success (1 pages) 11_1_1 (1 pages) 11_2_1 (2 pages) 11_4_1 (1 pages) 110033AE (2 pages) 110111AdobeAcquiresAuditude (2 pages) 110121AE (4 pages) 110125-1 (3 pages) 110134AE (8 pages) 110201 (3 pages)
Check in e-portals	World-H-News Products Extensions Partners Automation Jet Parts
Sitemap Folder	group1 group2 group3 group4 group5 group6 group7 group8 group9 group10 group11 group12 group13 group14 group15 group16 group17 group18 group19 group20 group21 group22 group23 group24 group25 group26 group27 group28 group29 group30 group31 group32 group33 group34 group35 group36 group37 group38 group39 group40 group41 group42 group43 group44 group45 group46 group47 group48 group49 group50 group51 group52 group53 group54 group55 group56 group57 group58 group59 group60 group61 group62 group63 group64 group65 group66 group67 group68 group69 group70 group71 group72 group73 group74 group75 group76 group77 group78 group79 group80 group81 group82 group83 group84 group85 group86 group87 group88 group89 group90 group91 group92 group93 group94 group95 group96 group97 group98 group99 group100 Prewious Folder Next Folder