|
Thousands of dollars, except per-share amounts and numbers of shares
The Company recorded special charges of $21,508 in fiscal year 2002.
The Company recorded special charges of $9,937 and $15,760 during the second and third quarters of fiscal 2002, respectively, related to a manufacturing restructuring program in the BD Medical (“Medical”) segment that is aimed at optimizing manufacturing efficiencies and improving the Company’s competitiveness in the different markets in which it operates. Offsetting special charges in the third quarter of 2002 were $4,189 of reversals of fiscal 2000 special charges. Of the 2002 charges, $19,171 represented exit costs, which included $18,533 related to severance costs. This program involves the termination of 533 employees in China, France, Germany, Ireland, Mexico, and the United States. As of September 30, 2004, one employee remains to be severed. The Company expects the remaining termination to be completed and the related accrued severance to be paid in the first quarter of 2005.
A summary of the 2002 special charge accrual activity follows:
| |
Severance |
|
Restructuring |
|
 |
| Accrual Balance at September 30, 2003 |
$ |
1,800 |
|
$ |
100 |
|
| Payments |
|
(1,000 |
) |
|
— |
|
| Adjustments |
|
(600 |
) |
|
(100 |
) |
|
| Accrual Balance at September 30, 2004 |
$ |
200 |
|
$ |
— |
|
|
|
