The asset impairment charge represents the write-down to fair value of assets that were abandoned or classified as ‘‘held-for-sale,’’ as a result of the disposition and discontinuance of IED and Aprisa, respectively. This write-down was for assets that were not included in the IED sale transaction. In Fiscal 2002, management committed to a restructuring plan for certain IED operations (the ‘‘2002 Restructuring’’). As a result of this action, the Company recognized restructuring charges totaling approximately $10.9 million, pre-tax. The restructuring charges consisted of approximately $3.3 million for qualifying exit costs for one service center and eleven regional office facilities with leases expiring through 2006 and severance and other employee benefits to be paid to approximately 80 personnel. In addition, the restructuring charges included provisions related to inventory valuation adjustments of $7.6 million for excess and obsolete inventory primarily associated with the Company’s decision, as part of the restructuring plan, to close its Electronics Manufacturing Resources and Services facility and to terminate certain supplier and customer relationships. During the first quarter of Fiscal 2003, the Company increased the reserve for severance and related benefits for eight additional employees. In the third quarter, the Company reversed $0.4 million of the reserve as estimates differed from actual payments. As of March 31, 2002, no payments had been made for any of these obligations. Severance and related benefits were paid to 88 personnel during the year ended March 31, 2003. The utilization of these various charges for the year ended March 31, 2003 is as follows: As part of the Purchase and Sale Agreement, certain severance costs are reimbursed by the purchaser. Therefore, a corresponding receivable to the aforementioned accrual has been established in ‘‘Assets from Discontinued Operations’’ in the accompanying Consolidated Balance Sheet at March 31, 2003. Approximately $10.9 million of the remaining reserve balance is expected to be spent before the end of Fiscal 2004, with $3.5 million reimbursed by the Purchaser. The following is a summary of the net assets of IED and Aprisa at March 31, 2003 and 2002: (Dollars in Thousands) 2003 2002 Cash $ 12 $ 2,052 Accounts receivable 30,515 107,548 Inventories 769 193,015 Goodwill — 36,688 Investments — 17,501 Other 6,384 11,388 Property and equipment, net 5,687 17,320 Assets of discontinued operations $43,367 $385,512 Accounts payable 4,132 63,872 Accrued liabilities 21,993 10,414 Liabilities of discontinued operations $26,125  $ 74,286 38 Severance Asset (Dollars in Thousands) Costs Facilities Impairment Other Total Balance at March 31, 2002 (2002 Restructuring) $ 1,414 $1,909 $ — $ 7,600 $ 10,923 Disposal of inventory — — — (7,600) (7,600) Provision 333 — — — 333 Payments (1,418) (564) — — (1,982) Reversals (205) (201) — — (406) Balance of discontinued reserves prior to sale $ 124 $1,144 $ — $ — $ 1,268 2003 Restructuring Charges 5,913 5,028 17,435 274 28,650 Severance costs not funded by Pioneer-Standard 3,491 — — — 3,491 Reclassifications 48 155 — — 203 Payments (2,244) (542) — — (2,786) Disposal of assets — — (17,435) — (17,435) Balance at March 31, 2003 $ 7,332 $5,785 $ — $ 274 $ 13,391