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Acquisition Integration Initiatives | 6 Months Ended
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Jul. 02, 2016
Subsequent Events [Abstract] |
Acquisition Integration Initiatives |
14) | Restructuring
Residential Kitchen Equipment Group: During fiscal year 2015, the company took actions to improve the operations of Viking and undertook acquisition integration initiatives related to AGA within the Residential Kitchen Equipment Group. These initiatives included organizational restructuring and headcount reductions, consolidation and disposition of certain facilities and business operations. The company recorded additional expense of $7.0 million in the six months period ended July 2, 2016. This expense is reflected in restructuring expenses in the consolidated statements of comprehensive income. The cumulative expenses incurred to date for these initiatives is approximately $27.5 million. The company estimates that these restructuring initiatives will result in future cost savings of approximately $24.1 million annually, beginning in fiscal year 2016, primarily related to compensation and facility costs. The company anticipates that all severance obligations for the Residential Kitchen Equipment Group will be satisfied by the end of fiscal of 2016. The lease obligations extend through July 2020.
|  | Severance/Benefits |  | Facilities/Operations |  | Other |  | Total
Balance as of January 2, 2016 |  | $ | 15,661 |  |  | $ | 4,642 |  |  | $ | 120 |  |  | $ | 20,423 |
Expenses |  | 6,194 |  |  | 787 |  |  | (21 | ) |  | 6,960 |
Exchange |  | (376 | ) |  | (26 | ) |  | (26 | ) |  | (428 | )
Payments |  | (13,377 | ) |  | (2,822 | ) |  | 26 |  |  | (16,173 | )
Balance as of July 2, 2016 |  | $ | 8,102 |  |  | $ | 2,581 |  |  | $ | 99 |  |  | $ | 10,782 |

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- Definition The entire disclosure for business combinations, including leverage buyout transactions (as applicable), and divestitures. This may include a description of a business combination or divestiture (or series of individually immaterial business combinations or divestitures) completed during the period, including background, timing, and assets and liabilities recognized and reclassified or sold. This element does not include fixed asset sales and plant closings. + References No definition available. + Details
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- References No definition available. + Details
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