What is meant by noncash utilization

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Reference no: EM13900773

The notes to the financial statements for Maytag Corporation provided the following table of special charges.

Maytag Corporation Schedule of Special Charges (annotated) For the Year Ended January 1, 2005 (in thousands)
Description of Special Charge	Balance, Jan. 3, 2004	Charged to Earnings 2004	Cash Utilization	Noncash Utilization	Balance, Jan. 1, 2005
Severance and related
expense	$15,326	$37,999	$(30,822)		$22,503
Moving of equipment		981	(981)
Asset write-downs		30,174		$(30,174)
Excess inventory		1,453		(1,453)
Purchase commitment		1,610			1,610
Other		1,096	(1,096)
Total	$15,326	$73,313	$(32,899)	$(31,627)	$24,113

The special charges include both severance-related and asset impairments. The columns of the table indicate the balances and change in balances of the balance sheet accounts affected by the restructuring events.

a. Journalize the entry for special charges for 2004.

b. What is meant by "noncash utilization"?

c. Provide the balance sheet disclosure for the restructuring obligation on January 1, 2005.

Reference no: EM13900773

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