Celestica Announces Fourth Quarter and Fiscal Year 2014 Financial Results

At December 31, 2014, 1.1 million (December 31, 2013 — 1.0 million) DSUs were outstanding.

For the fourth quarter and full year 2014, we recorded employee stock-based compensation expense (excluding DSUs) of $5.9 and $28.4, respectively (fourth quarter and full year 2013 — $6.6 and $29.2, respectively), and DSU expense of $0.5 and $1.9, respectively (fourth quarter and full year 2013 — $0.6 and $1.9, respectively). The amount of our employee stock-based compensation expense varies from period-to-period. The portion of our expense that relates to performance-based compensation generally varies depending on the level of achievement of pre-determined performance goals and financial targets.

Weighted average number of shares outstanding:

The weighted average number of shares used for the diluted per share calculations include the effect of stock-based compensation awards, if dilutive. For the fourth quarter of 2014, we excluded the effect of 2.0 million such awards as they were anti-dilutive due to the loss reported in the period.

8. PENSION AND NON-PENSION POST-EMPLOYMENT BENEFIT PLANS

We provide pension and non-pension post-employment defined benefit plans for our employees. Our obligations are determined based on actuarial valuations. We recognize actuarial gains or losses arising from pension and non-pension post-employment defined benefit plans in other comprehensive income and we subsequently reclassify the amounts to deficit. For 2014, we recognized $11.9 of net actuarial gains, net of tax (2013 — $7.6 of net actuarial gains, net of tax). We used a measurement date of December 31, 2014 for the accounting valuation of our pension and non-pension post-employment defined benefit plans.

Also see note 9(c).


9. OTHER CHARGES


Three months ended December 31


Year ended December 31


2013


2014


2013


2014

Restructuring (a)................................................................................

$

17.5



$

(2.1)



$

28.0



$

(2.1)


Asset impairment (b).........................................................................



40.8





40.8


Pension obligation settlement loss (c)...........................................







6.4


Other (d)..............................................................................................



(1.3)



(24.0)



(8.0)



$

17.5



$

37.4



$

4.0



$

37.1


(a) Restructuring:

Our restructuring charges (recoveries) are comprised of the following:


Three months ended December 31


Year ended December 31


2013


2014


2013


2014

Cash charges (recoveries)................................................................

$

16.3



$

(2.1)



$

26.1



$

(2.0)


Non-cash charges (recoveries).......................................................

1.2





1.9



(0.1)



$

17.5



$

(2.1)



$

28.0



$

(2.1)



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