Note 5: Asset Impairment, Restructuring, and Other Special Charges
The components of the charges included in asset impairment, restructuring, and other special charges in our consolidated statements of operations are described below.
|
| | | | | | | | | | | |
| 2013 | | 2012 | | 2011 |
Severance | $ | 90.6 |
| | $ | 74.5 |
| | $ | 251.8 |
|
Asset impairment and other special charges | 30.0 |
| | 206.6 |
| | 149.6 |
|
Asset impairment, restructuring, and other special charges | $ | 120.6 |
| | $ | 281.1 |
| | $ | 401.4 |
|
Severance costs listed above for all years relate to initiatives to reduce our cost structure and global workforce.
For the year ended December 31, 2013, we incurred $30.0 million of asset impairment and other special charges related primarily to costs associated with the anticipated closure of a packaging and distribution facility in Germany.
For the year ended December 31, 2012, we incurred $206.6 million of asset impairment and other special charges consisting of $122.6 million related to an intangible asset impairment for liprotamase (see Note 8) net of the reduction of the related contingent consideration liability, $64.0 million related to the recognition of an asset impairment associated with the decision to stop development of a delivery device platform, and $20.0 million resulting from a change in our estimates of returned product related to the withdrawal of Xigris™ from the market during the fourth quarter of 2011.
For the year ended December 31, 2011, we incurred $149.6 million of asset impairments and other special charges primarily consisting of $85.0 million for returned product and contractual commitments related to the withdrawal of Xigris from the market and $56.1 million related to our decision to vacate certain leased premises.
