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Note 17 - Restructuring | 3 Months Ended
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Sep. 30, 2014
Restructuring and Related Activities [Abstract] |
Restructuring and Related Activities Disclosure [Text Block] | 1 7) Restructuring The Company has undertaken cost reduction and facility consolidation initiatives that have resulted in severance, restructuring, and related charges. A summary of charges by initiative is as follows (in thousands):
|  | Three Months Ended |
|  | September 30, 2014 |
Fiscal 2015 |  | Involuntary Employee Severance and Benefit Costs |  |  | Other |  |  | Total |
Restructuring initiatives |  | $ | 34 |  |  | $ | 3 |  |  | $ | 37 |
Prior year initiatives |  |  | 125 |  |  |  | 700 |  |  |  | 825 |
|  | $ | 159 |  |  | $ | 703 |  |  | $ | 862 |
|  | Three Months Ended |
|  | September 30, 2013 |
Fiscal 2014 |  | Involuntary Employee Severance and Benefit Costs |  |  | Other |  |  | Total |
Restructuring initiatives |  | $ | 351 |  |  | $ | 3,383 |  |  | $ | 3,734 |
Prior year initiatives |  |  | 72 |  |  |  | - |  |  |  | 72 |
|  | $ | 423 |  |  | $ | 3,383 |  |  | $ | 3,806 |
2015 Restructuring Initiatives The Company has continued to focus on our efforts to reduce cost and improve productivity across our businesses, particularly through headcount reductions in the Engraving Group during the first quarter primarily in Europe. Restructuring expenses related to all 2015 initiatives are expected to be $3.8 million, of which less than $0.1 million was incurred during the first quarter. Activity in the reserves related to fiscal year 2015 restructuring initiatives is as follows (in thousands):
|  | Involuntary Employee Severance and Benefit Costs |  |  | Other |  |  | Total |
Restructuring liabilities at June 30, 2014 |  | $ | - |  |  | $ | - |  |  | $ | - |
Additions and adjustments |  |  | 34 |  |  |  | 3 |  |  |  | 37 |
Payments |  |  | (22 | ) |  |  | (3 | ) |  |  | (25 | )
Restructuring liabilities at September 30, 2014 |  | $ | 12 |  |  | $ | - |  |  | $ | 12 |
Prior Year Initiatives The Company previously announced a consolidation of our Food Service Equipment Group Cheyenne, Wyoming plant into its Mexico facility. During the first quarter of fiscal year 2014 we recorded a non-cash expense of $3.3 million related to the impairment of long-lived assets in Cheyenne. During fiscal year 2015, restructuring expenses related to this initiative are expected to be $1.3 million, of which $0.8 million was incurred during the first quarter of 2015 and the cumulative expense related to this initiative is $10.8 million. Activity in the reserve related to the prior year restructuring initiatives is as follows (in thousands):
|  | Involuntary Employee Severance and Benefit Costs |  |  | Other |  |  | Total |
Restructuring liabilities at June 30, 2014 |  | $ | 555 |  |  | $ | - |  |  | $ | 555 |
Additions and adjustments |  |  | 125 |  |  |  | 700 |  |  |  | 825 |
Payments |  |  | (441 | ) |  |  | (645 | ) |  |  | (1,086 | )
Restructuring liabilities at September 30, 2014 |  | $ | 239 |  |  | $ | 55 |  |  | $ | 294 |
The Company’s total restructuring expenses by segment are as follows (in thousands):
|  | Three Months Ended |
|  | September 30, 2014 |
|  | Involuntary Employee Severance and Benefit Costs |  |  | Other |  |  | Total |
Food Service Equipment Group |  | $ | 114 |  |  | $ | 561 |  |  | $ | 675 |
Engraving Technologies Group |  |  | 34 |  |  |  | 3 |  |  |  | 37 |
Electronics Products Group |  |  | 11 |  |  |  | 139 |  |  |  | 150 |
|  | $ | 159 |  |  | $ | 703 |  |  | $ | 862 |
|  | Three Months Ended |
|  | September 30, 2013 |
|  | Involuntary Employee Severance and Benefit Costs |  |  | Other |  |  | Total |
Food Service Equipment Group |  | $ | 18 |  |  | $ | 3,328 |  |  | $ | 3,346 |
Engraving Technologies Group |  |  | 245 |  |  |  | 7 |  |  |  | 252 |
Electronics Products Group |  |  | 160 |  |  |  | 48 |  |  |  | 208 |
|  | $ | 423 |  |  | $ | 3,383 |  |  | $ | 3,806 |

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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 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
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