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Plan of Restructuring | 9 Months Ended
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Sep. 24, 2016
Restructuring and Related Activities [Abstract] |
Plan of Restructuring | N ote 8 – Plan of Restructuring On November 6, 2014, we announced a corporate initiative to rationalize our operations and provide expense efficiencies, which was expected to be completed by the end of fiscal 2015. This initiative originally planned for th e elimination of approximately 2% to 3% of our workforce and the closing of certain facilities. We subsequently announced that we plan to extend these restructuring activities through the end of 2016 to further implement cost-savings initiat ives, which will now result in the elimination of approximately 3% to 4% of our workforce. The total costs associated with the actions to date for this restructuring include $34.9 million pre-tax, which was recorded in fiscal 2015 and $29.8 million pre-tax which has been recorded in the nine months ended September 24, 2016. During the three months ended September 24, 2016 and September 26, 2015, we recorded restructuring costs of $5.4 million and $8.4 million, respectively. During the nine months ended September 24, 2016 and September 26, 2015, we recorded restructuring costs of $29.8 million and $22.5 million, respectively. The costs associated with this restructuring are included in a separate line item, “Restructuring costs” within our consolidated statements of income. On October 28, 2016, we estimated the remaining restructuring co sts to be recorded in the fourth quarter of 2016 to be in the range of $17 million to $2 2 million. The following table shows the amounts expensed and paid for restructuring costs that were incurred during the nine months ended September 24, 2016 and during our 2015 fiscal year and the remaining accrued balance of restructuring costs as of September 24, 2016, which is included in Accrued expenses: Other and Other liabilities within our consolidated balance sheet:
|  |  |  |  | Facility |  |  |  |
|  |  | Severance |  | Closing |  |  |  |
|  |  | Costs |  | Costs |  | Other |  | Total
Balance, December 27, 2014 |  | $ | 120 |  | $ | 301 |  | $ | - |  | $ | 421
Provision |  |  | 26,742 |  |  | 5,706 |  |  | 2,483 |  |  | 34,931
Payments and other adjustments |  |  | (17,759) |  |  | (3,856) |  |  | (1,672) |  |  | (23,287)
Balance, December 26, 2015 |  | $ | 9,103 |  | $ | 2,151 |  | $ | 811 |  | $ | 12,065
Provision |  |  | 25,736 |  |  | 2,619 |  |  | 1,456 |  |  | 29,811
Payments |  |  | (16,964) |  |  | (3,140) |  |  | (2,029) |  |  | (22,133)
Balance, September 24, 2016 |  | $ | 17,875 |  | $ | 1,630 |  | $ | 238 |  | $ | 19,743
The following table shows, by reportable segment, the amounts expensed and paid for restructuring costs that were incurred during the nine months ended September 24, 2016 and the 2015 fiscal year and the remaining accrued balance of restructuring costs as of September 24, 2016:
|  |  |  |  |  | Technology and |  |
|  |  | Health Care |  | Value-Added |  |  |
|  |  | Distribution |  | Services |  | Total
Balance, December 27, 2014 |  | $ | 421 |  | $ | - |  | $ | 421
Provision |  |  | 33,889 |  |  | 1,042 |  |  | 34,931
Payments and other adjustments |  |  | (22,248) |  |  | (1,039) |  |  | (23,287)
Balance, December 26, 2015 |  | $ | 12,062 |  | $ | 3 |  | $ | 12,065
Provision |  |  | 28,963 |  |  | 848 |  |  | 29,811
Payments |  |  | (21,503) |  |  | (630) |  |  | (22,133)
Balance, September 24, 2016 |  | $ | 19,522 |  | $ | 221 |  | $ | 19,743

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- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4) -URI http://asc.fasb.org/extlink&oid=27011515&loc=d3e140904-122747 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 5.P.3) -URI http://asc.fasb.org/extlink&oid=27011515&loc=d3e140864-122747 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 + Details
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