XML 83 R24.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Note 16 - Restructuring | 12 Months Ended
--- | ---
Jun. 30, 2014
Restructuring and Related Activities [Abstract] |
Restructuring and Related Activities Disclosure [Text Block] | 16. RESTRUCTURING The Company has undertaken a number of initiatives that have resulted in severance, restructuring, and related charges. A summary of charges by initiative is as follows (in thousands):
|  | Involuntary |  |  |  |  |  |  |  |  |
|  | Employee |  |  |  |  |  |  |  |  |
|  | Severance and |  |  |  |  |  |  |  |  |
Year Ended June 30, |  | Benefit Costs |  |  | Other |  |  | Total |
|  | 2014 |
2014 Restructuring Initiatives |  | $ | 1,528 |  |  | $ | 8,477 |  |  | $ | 10,005 |
Prior Year Initiatives |  |  | 72 |  |  |  | - |  |  |  | 72 |
Total expense |  | $ | 1,600 |  |  | $ | 8,477 |  |  | $ | 10,077 |
|  | 2013 |
2013 Restructuring Initiatives |  | $ | 1,299 |  |  | $ | 1,367 |  |  | $ | 2,666 |
Prior Year Initiatives |  |  | - |  |  |  | - |  |  |  | - |
Total expense |  | $ | 1,299 |  |  | $ | 1,367 |  |  | $ | 2,666 |
|  | 2012 |
2012 Restructuring Initiatives |  | $ | 901 |  |  | $ | 206 |  |  | $ | 1,107 |
Prior Year Initiatives |  |  | 87 |  |  |  | 491 |  |  |  | 578 |
Total expense |  | $ | 988 |  |  | $ | 697 |  |  | $ | 1,685 |
201 4 Restructuring Initiatives On August 23, 2013 the Company announced a consolidation of its Cheyenne, Wyoming plant into its Mexico facility and other cooking solutions operations in North America. Restructuring expenses of $10.1 million in the fiscal year 2014 are composed of $9.2 million at Food Service Equipment primarily related to the announced closure of the Cheyenne, Wyoming facility, which includes a non-cash impairment charge of $5.4 million. Activity in the reserves related to 2014 restructuring initiatives is as follows (in thousands):
|  | Involuntary |  |  |  |  |  |  |  |  |
|  | Employee |  |  |  |  |  |  |  |  |
|  | Severance |  |  |  |  |  |  |  |  |
|  | and Benefit |  |  |  |  |  |  |  |  |
|  | Costs |  |  | Other |  |  | Total |
Restructuring Liabilities at June 30, 2013 |  | $ | 10 |  |  | $ | - |  |  | $ | 10 |
Additions |  |  | 1,528 |  |  |  | 3,051 |  |  |  | 4,579 |
Payments |  |  | (983 | ) |  |  | (3,051 | ) |  |  | (4,034 | )
Restructuring Liabilities at June 30, 2014 |  | $ | 555 |  |  | $ | - |  |  | $ | 555 |
Prior Year Initiatives During the first half of 2013, the Company began a new headcount reduction program in its European Engraving Group operations as part of the realignment of the Group’s global footprint. Restructuring cost of $0.6 million related to this activity was substantially completed for the year ended June 30, 2013. During the third quarter, the Company completed the move and startup of the Sao Paolo, Brazil, Engraving Group facility to a location more suited to the Group’s operational needs. Restructuring expenses for the year ended June 30, 2013 related to these activities were $1.5 million. Also during the year as redundant positions due to the Meder acquisition are being eliminated the Company incurred $0.4 million of restructuring costs in China, which was substantially completed for the year ended June 30, 2013. Activity in the reserves related to prior year restructuring initiatives is as follows (in thousands):
|  | Involuntary |  |  |  |  |  |  |  |  |
|  | Employee |  |  |  |  |  |  |  |  |
|  | Severance |  |  |  |  |  |  |  |  |
|  | and Benefit |  |  |  |  |  |  |  |  |
|  | Costs |  |  | Other |  |  | Total |
Restructuring Liabilities at June 30, 2012 |  | $ | 41 |  |  | $ | - |  |  | $ | 41 |
Additions |  |  |  |  |  |  | - |  |  |  | - |
Payments |  |  | (41 | ) |  |  | - |  |  |  | (41 | )
Restructuring Liabilities at June 30, 2013 |  | $ | - |  |  | $ | - |  |  | $ | - |
Additions |  |  | 72 |  |  |  | - |  |  |  | 72 |
Payments |  |  | (72 | ) |  |  | - |  |  |  | (72 | )
Restructuring Liabilities at June 30, 2014 |  | $ | - |  |  | $ | - |  |  | $ | - |
The Company’s total restructuring expenses by segment are as follows (in thousands):
|  | Involuntary |  |  |  |  |  |  |  |  |
|  | Employee |  |  |  |  |  |  |  |  |
|  | Severance |  |  |  |  |  |  |  |  |
|  | and Benefit |  |  |  |  |  |  |  |  |
Year Ended June 30, |  | Costs |  |  | Other |  |  | Total |
|  | 2014 |
Food Service Equipment Group |  | $ | 746 |  |  | $ | 8,408 |  |  | $ | 9,154 |
Engraving Group |  |  | 667 |  |  |  | 21 |  |  |  | 688 |
Electronics Products Group |  |  | 187 |  |  |  | 48 |  |  |  | 235 |
Total expense |  | $ | 1,600 |  |  | $ | 8,477 |  |  | $ | 10,077 |
|  | 2013 |
Food Service Equipment Group |  | $ | 183 |  |  | $ | 25 |  |  | $ | 208 |
Engineering Technologies Group |  |  | 44 |  |  |  | - |  |  |  | 44 |
Engraving Group |  |  | 776 |  |  |  | 1,253 |  |  |  | 2,029 |
Electronics Products Group |  |  | 296 |  |  |  | 89 |  |  |  | 385 |
Total expense |  | $ | 1,299 |  |  | $ | 1,367 |  |  | $ | 2,666 |
|  | 2012 |
Food Service Equipment Group |  | $ | 279 |  |  | $ | 647 |  |  | $ | 926 |
Engraving Group |  |  | 683 |  |  |  | 50 |  |  |  | 733 |
Corporate |  |  | 26 |  |  |  | - |  |  |  | 26 |
Total expense |  | $ | 988 |  |  | $ | 697 |  |  | $ | 1,685 |

X
- Details
Name: | us-gaap_RestructuringAndRelatedActivitiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 1 -Subparagraph (SAB TOPIC 5.P.3) -URI http://asc.fasb.org/extlink&oid=27011515&loc=d3e140864-122747 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 5 -Section P -Subsection 3, 4 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 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=27011515&loc=d3e140904-122747 + Details
Name: | us-gaap_RestructuringAndRelatedActivitiesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration