Annual report pursuant to Section 13 and 15(d)

Restructuring and Asset Impairment Charges

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Restructuring and Asset Impairment Charges
12 Months Ended
Dec. 31, 2011
Restructuring and Related Activities [Abstract]  
Restructuring and Asset Impairment Charges [Text Block]

Note 19: Restructuring and Asset Impairment Charges

 

The following table summarizes restructuring and asset impairment charges by plan for the three years ended December 31, 2011:

(In Millions) 2011   2010   2009
2009 restructuring program $   $   $ 215
2006 efficiency program           16
Total restructuring and asset impairment charges $   $   $ 231

2009 Restructuring Program

 

In the first quarter of 2009, management approved plans to restructure some of our manufacturing and assembly and test operations. These plans included closing two assembly and test facilities in Malaysia, one facility in the Philippines, and one facility in China; stopping production at a 200mm wafer fabrication facility in Oregon; and ending production at our 200mm wafer fabrication facility in California. The 2009 restructuring program is complete. Under the 2009 restructuring program, we incurred $208 million in charges related to employee severance and benefit arrangements for approximately 6,500 employees, and $7 million in asset impairment charges.

 

2006 Efficiency Program

 

In the third quarter of 2006, management approved several actions as part of a restructuring plan designed to improve operational efficiency and financial results. The 2006 efficiency program is complete. From the third quarter of 2006 through 2009, we incurred a total of $1.6 billion in restructuring and asset impairment charges related to this program.