In June 1997 and again in September 1997, the Company approved plans to restructure its operations in order to bring expenses in line with forecasted revenues. In connection with these restructurings, the Company substantially reduced its worldwide headcount and consolidated facilities and operations to improve efficiency. The following analysis sets forth the significant components of the restructuring expense charge and adjustments to restructuring expense included in the Company’s consolidated statements of operations for the years ended December 31, 1999, 1998 and 1997 as well as the significant components of the restructuring reserve at December 31, 1999 (in millions):

Severance and benefits represent the reduction of approximately 670 employees, primarily sales and marketing personnel, on a worldwide basis. Temporary employees and contractors were also reduced. Write-off of assets include the write-off or write-down in carrying value of equipment as a result of the Company’s decision to reduce the number of Information Superstores throughout the world, as well as the write-off of equipment associated with headcount reductions. The equipment subject to the write-offs and write-downs consisted primarily of computer servers, workstations, and personal computers that are no longer utilized in the Company’s operations. Facility charges include early termination costs associated with the closing of certain domestic and international sales offices.

For the years ended December 31, 1999 and 1998, the Company recorded restructuring-related adjustments to decrease restructuring expense by $0.6 million and $10.3 million, respectively, primarily due to adjusting the estimated severance and facility charges to actual costs incurred. The Company has substantially completed actions associated with its restructuring except for subleasing or settling its remaining long-term operating leases related to vacated properties. The terms of such operating leases expire at various dates through 2003.

On January 1, 1998, the Company adopted Statement of Financial Accounting Standards No. 130 (SFAS 130), “Reporting Comprehensive Income,” which establishes standards for displaying comprehensive income and its components.

The components of accumulated other comprehensive income (loss) consist of the following items:

The tax effect on components of comprehensive income (loss) is not significant.

In June 1998, the Financial Accounting Standards Board issued Statement No. 133 (SFAS 133), “Accounting for Derivative Instruments and Hedging Activities,” which establishes standards for derivative instruments, including certain derivative instruments embedded in other contracts, and for hedging activities. It requires an entity to recognize all derivatives as either assets or liabilities in the statement of financial position and measure those instruments at fair value. SFAS 133 is effective for fiscal years beginning after June 15, 2000. Earlier application of SFAS 133 is encouraged but should not be applied retroactively to financial statements of prior periods. The Company is currently evaluating the requirements and impact of SFAS 133.