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Plan of Restructuring | 6 Months Ended
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Jul. 01, 2017
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 our plan to extend these restructuring activities through the end of 2016 to further implement cost-savings initiatives, which ultimately resulted in the elimination of approximately 900 positions, representing 4% of our workforce. We recorded restructuring costs of $34.9 million pre-tax in fiscal 2015 and $45.9 million pre-tax in fiscal 2016. Our restructuring activitie s are complete and we do not expect to report any such charges in 2017. During the six months ended June 25, 2016, we recorded restructuring costs of $24.4 million. The costs associated with this restructuring are included in a separate line item, “Restructuring costs” within our consolidated statements of income. The following table shows the amounts expensed and paid for restructuring costs that were incurred during the six months ended July 1, 2017 and during our 2016 fiscal year and the remaining accrued balance of restructuring costs as of July 1, 2017, which is included in Accrued expenses: Other and Other liabilities within our consolidated balance sheet:
|  |  |  |  | Facility |  |  |  |
|  |  | Severance |  | Closing |  |  |  |
|  |  | Costs |  | Costs |  | Other |  | Total
Balance, December 26, 2015 |  | $ | 9,103 |  | $ | 2,151 |  | $ | 811 |  | $ | 12,065
Provision |  |  | 40,728 |  |  | 3,587 |  |  | 1,576 |  |  | 45,891
Payments and other adjustments |  |  | (27,477) |  |  | (3,284) |  |  | (1,492) |  |  | (32,253)
Balance, December 31, 2016 |  | $ | 22,354 |  | $ | 2,454 |  | $ | 895 |  | $ | 25,703
Provision |  |  | - |  |  | - |  |  | - |  |  | -
Payments |  |  | (15,598) |  |  | (738) |  |  | (823) |  |  | (17,159)
Balance, July 01, 2017 |  | $ | 6,756 |  | $ | 1,716 |  | $ | 72 |  | $ | 8,544
The following table shows, by reportable segment, the amounts expensed and paid for restructuring costs that were incurred during the six months ended July 1, 2017 and the 2016 fiscal year and the remaining accrued balance of restructuring costs as of July 1, 2017:
|  |  |  |  |  | Technology and |  |
|  |  | Health Care |  | Value-Added |  |  |
|  |  | Distribution |  | Services |  | Total
Balance, December 26, 2015 |  | $ | 12,062 |  | $ | 3 |  | $ | 12,065
Provision |  |  | 44,082 |  |  | 1,809 |  |  | 45,891
Payments and other adjustments |  |  | (30,906) |  |  | (1,347) |  |  | (32,253)
Balance, December 31, 2016 |  | $ | 25,238 |  | $ | 465 |  | $ | 25,703
Provision |  |  | - |  |  | - |  |  | -
Payments |  |  | (16,905) |  |  | (254) |  |  | (17,159)
Balance, July 01, 2017 |  | $ | 8,333 |  | $ | 211 |  | $ | 8,544

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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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