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Restructuring, Plant Closures and Other Related Costs | 3 Months Ended
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Jun. 30, 2012
Restructuring, Plant Closures and Other Related Costs [Abstract] |
Restructuring, Plant Closures and Other Related Costs | Note 10: Restructuring, Plant Closures and Other Related Costs During fiscal 2013, the Company announced its intention to restructure its Original Equipment - Europe segment. The Company expects actions will include exiting certain non-core product lines based on our global product strategy, reducing manufacturing costs, implementing headcount reductions, and disposing of or selling certain fixed assets. The restructuring plan is designed to align the cost structure of the segment with the strategic focus on the commercial vehicle market, while improving gross margin and return on average capital employed. Since the commencement of the Original Equipment - Europe segment restructuring plan, the Company has incurred $4,502 of termination charges and $59 of other closure costs, in the aggregate. The Company anticipates incurring additional costs of approximately $12,500 through fiscal 2017 (with the majority being incurred through fiscal 2014), consisting of additional headcount reductions and equipment moving costs. Total future cash expenditures of approximately $17,000 are anticipated to be incurred related to this restructuring plan. Prior to fiscal 2013, the Company had been executing a restructuring plan in the U.S. and its Tubingen, Germany facility. The final plant closure under this restructuring plan was completed in the fourth quarter of fiscal 2012. Changes in the accrued restructuring liability for the three months ended June 30, 2012 and 2011 were comprised of the following, related to the above-described restructuring activities:
|  | Three months ended June 30 |
|  | 2012 |  |  | 2011 |
Termination Benefits: |  |  |  |  |  |
Balance, April 1 |  | $ | 595 |  |  | $ | 1,301 |
Additions |  |  | 4,502 |  |  |  | - |
Adjustments |  |  | (12 | ) |  |  | (57 | )
Effect of exchange rate changes |  |  | (8 | ) |  |  | 4 |
Payments |  |  | (733 | ) |  |  | (72 | )
Balance, June 30 |  | $ | 4,344 |  |  | $ | 1,176 |
The following is the summary of restructuring and other repositioning costs recorded related to the above-described programs during the three months ended June 30, 2012 and 2011:
|  | Three months ended June 30 |
|  | 2012 |  |  | 2011 |
Restructuring expense (income): |  |  |  |  |  |
Employee severance and related benefits |  | $ | 4,490 |  |  | $ | (57 | )
Other repositioning costs |  |  | 271 |  |  |  | 135 |
Total restructuring and other repositioning costs |  | $ | 4,761 |  |  | $ | 78 |
Total restructuring and other repositioning costs were recorded in the consolidated statement of operations for the three months ended June 30, 2012 as follows: $271 was recorded as a component of cost of sales and $4,490 was recorded as restructuring expense. Total restructuring and other repositioning costs were recorded in the consolidated statement of operations for the three months ended June 30, 2011 as follows: $135 was recorded as a component of cost of sales and $57 was recorded as restructuring income. The Company accrues severance in accordance with its policies and relevant statutory requirements. Restructuring income relates to reversals of severance liabilities due to employee terminations prior to completion of required retention periods.

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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 SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 5 -Section P -Subsection 3, 4 Reference 2: 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 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 146 -Paragraph 20 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: 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=6394695&loc=d3e140904-122747 Reference 5: 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=6394695&loc=d3e140864-122747 + Details
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