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Note 16 - Restructuring | 12 Months Ended
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Jun. 30, 2017
Notes to Financial Statements |
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 |
201 7 Restructuring Initiatives |  | $ | 1,863 |  |  | $ | 3,590 |  |  | $ | 5,453 |
Prior Year Initiatives |  |  | - |  |  |  | 372 |  |  |  | 372 |
Total expense |  | $ | 1,863 |  |  | $ | 3,962 |  |  | $ | 5,825 |
2016 Restructuring Initiatives |  | $ | 1,046 |  |  | $ | 893 |  |  | $ | 1,939 |
Prior Year Initiatives |  |  | 96 |  |  |  | 2,197 |  |  |  | 2,293 |
Total expense |  | $ | 1,142 |  |  | $ | 3,090 |  |  | $ | 4,232 |
2015 Restructuring Initiatives |  | $ | 847 |  |  | $ | 2,319 |  |  | $ | 3,166 |
Prior Year Initiatives |  |  | 11 |  |  |  | 266 |  |  |  | 277 |
Total expense |  | $ | 858 |  |  | $ | 2,585 |  |  | $ | 3,443 |
201 7 Restructuring Initiatives The Company continues to focus on our efforts to reduce cost and improve productivity across our businesses, particularly through headcount reductions, facility closures, and consolidations. The Company’s 2017 initiatives are from three primary areas. First, Engineering Technologies incurred $3.6 million of expense related to manufacturing footprint optimization at the Enginetics, Huber Heights, Ohio facility which allowed us to close its East Lake, Ohio facility. We vacated and sublet the East Lake facility for approximately the same aggregate lease costs for which we are obligated under the lease. Second, we spent $1.2 million to gain organizational efficiencies within the Food Service Equipment segment. Finally, we spent $0.5 million to move our Electronics facility in China due to government directives related to all businesses in the area where our facility was located. The Company anticipates further restructuring charges in 2018 based upon market conditions and cost reduction activities to improve our competitive advantage. Activity in the reserves related to 2017 restructuring initiatives is as follows (in thousands):
|  | Involuntary Employee |  |  |  |  |  |  |  |  |
|  | Severance and |  |  |  |  |  |  |  |  |
|  | Benefit Costs |  |  | Other |  |  | Total |
Restructuring Liabilities at June 30, 2016 |  | $ | - |  |  | $ | - |  |  | $ | - |
Additions |  |  | 1,927 |  |  |  | 3,512 |  |  |  | 5,439 |
Payments |  |  | (1,421 | ) |  |  | (2,711 | ) |  |  | (4,132 | )
Restructuring Liabilities at June 30, 2017 |  | $ | 506 |  |  | $ | 801 |  |  | $ | 1,307 |
201 6 Restructuring Initiatives The Company’s 2016 initiatives included the movement of manufacturing from a legacy Canadian facility into our newly acquired Northlake facility and a reduction of personnel in those locations impacted by the slowdown in the oil and gas market. Restructuring expenses during fiscal year 2016 were $4.2 million primarily related to a $1.7 million non-cash charge from the sale of a vacant property and a $0.7 million non-cash charge to discontinue a product line at our Refrigeration Solutions group. Restructuring activities related to all prior year initiatives are substantially complete. 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, 2016 |  | $ | 74 |  |  | $ | 256 |  |  | $ | 330 |
Additions |  |  | - |  |  |  | 230 |  |  |  | 230 |
Payments |  |  | (74 | ) |  |  | (49 | ) |  |  | (123 | )
Restructuring Liabilities at June 30, 2017 |  | $ | - |  |  | $ | 437 |  |  | $ | 437 |
The Company’s total restructuring expenses by segment are as follows (in thousands):
|  | Involuntary Employee |  |  |  |  |  |  |  |  |
|  | Severance and |  |  |  |  |  |  |  |  |
Year Ended June 30, |  | Benefit Costs |  |  | Other |  |  | Total |
Fiscal Year 2017 |  |  |  |  |  |  |  |  |  |  |  |
Food Service Equipment |  | $ | 1,101 |  |  | $ | 85 |  |  | $ | 1,186 |
Engineering Technologies |  |  | 809 |  |  |  | 3,070 |  |  |  | 3,879 |
Engraving |  |  | 6 |  |  |  | - |  |  |  | 6 |
Electronics |  |  | 11 |  |  |  | 488 |  |  |  | 499 |
Corporate and Other |  |  | (64 | ) |  |  | 319 |  |  |  | 255 |
Total expense |  | $ | 1,863 |  |  | $ | 3,962 |  |  | $ | 5,825 |
Fiscal Year 2016 |  |  |  |  |  |  |  |  |  |  |  |
Food Service Equipment |  | $ | 138 |  |  | $ | 2,841 |  |  | $ | 2,979 |
Engineering Technologies |  |  | 160 |  |  |  | - |  |  |  | 160 |
Engraving |  |  | 92 |  |  |  | - |  |  |  | 92 |
Electronics |  |  | 624 |  |  |  | 217 |  |  |  | 841 |
Corporate and Other |  |  | 128 |  |  |  | 32 |  |  |  | 160 |
Total expense |  | $ | 1,142 |  |  | $ | 3,090 |  |  | $ | 4,232 |
Fiscal Year 2015 |  |  |  |  |  |  |  |  |  |  |  |
Food Service Equipment |  | $ | 215 |  |  | $ | 2,363 |  |  | $ | 2,578 |
Engineering Technologies |  |  | 75 |  |  |  | - |  |  |  | 75 |
Engraving |  |  | 220 |  |  |  | - |  |  |  | 220 |
Electronics |  |  | 348 |  |  |  | 222 |  |  |  | 570 |
Total expense |  | $ | 858 |  |  | $ | 2,585 |  |  | $ | 3,443 |

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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 -URI http://asc.fasb.org/topic&trid=2175745 + Details
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