XML 34 R23.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Note 17 - Restructuring | 3 Months Ended
--- | ---
Sep. 30, 2017
Notes to Financial Statements |
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 3 0 , 2017 |
Fiscal 201 8 |  | Involuntary Employee Severance and Benefit Costs |  |  | Other |  |  | Total |
Restructuring initiatives |  | $ | 1,682 |  |  | $ | 547 |  |  | $ | 2,229 |
Prior year initiatives |  |  | 42 |  |  |  | 733 |  |  |  | 775 |
|  | $ | 1,724 |  |  | $ | 1,280 |  |  | $ | 3,004 |
|  | Three Months Ended |
|  | September 3 0 , 201 6 |
Fiscal 201 7 |  | Involuntary Employee Severance and Benefit Costs |  |  | Other |  |  | Total |
Restructuring initiatives |  | $ | 23 |  |  | $ | 283 |  |  | $ | 306 |
Prior year initiatives |  |  | 6 |  |  |  | 82 |  |  |  | 88 |
|  | $ | 29 |  |  | $ | 365 |  |  | $ | 394 |
201 8 Restructuring Initiatives The Company continue s to focus on our efforts to reduce cost and improve productivity across our businesses, particularly through headcount reductions, facility closures, and consolidations. During the first quarter of fiscal year 2018, we incurred restructuring expenses from 2018 initiatives related to three restructuring programs that are intended to improve profitability, streamline production and enhance capacity to support future growth: ( 1 ) the realignment of management functions at the Food Service Equipment Group level; ( 2 ) headcount reduction and plant realignment with regard to the standard products businesses within Food Service Equipment; and ( 3 ) the exit of an unprofitable Engraving business in Brazil.
|  | Involuntary Employee Severance and Benefit Costs |  |  | Other |  |  | Total |
Restructuring liabilities at June 30 , 2017 |  | $ | - |  |  | $ | - |  |  | $ | - |
Additions and adjustments |  |  | 1,682 |  |  |  | 547 |  |  |  | 2,229 |
Payments |  |  | (1,276 | ) |  |  | (547 | ) |  |  | (1,823 | )
Restructuring liabilities at September 30, 2017 |  | $ | 406 |  |  | $ | - |  |  | $ | 406 |
Prior Year Initiatives The prior year initiatives yet to be completed are primarily the finalization of the manufacturing footprint consolidation within our Enginetics business in the Engineering Technology segment. 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, 2017 |  | $ | 506 |  |  | $ | 1,238 |  |  | $ | 1,744 |
Additions and adjustments |  |  | 42 |  |  |  | 752 |  |  |  | 794 |
Payments |  |  | (532 | ) |  |  | (1,662 | ) |  |  | (2,194 | )
Restructuring liabilities at September 30, 2017 |  | $ | 16 |  |  | $ | 328 |  |  | $ | 344 |
The Company ’s total restructuring expenses by segment are as follows (in thousands):
|  | Three Months Ended |  |  | Three Months Ended |
|  | September 3 0 , 201 7 |  |  | September 3 0 , 201 6 |
|  | Involuntary Employee Severance and Benefit Costs |  |  | Other |  |  | Total |  |  | Involuntary Employee Severance and Benefit Costs |  |  | Other |  |  | Total |
Food Service Equipment |  | $ | 835 |  |  | $ | 427 |  |  | $ | 1,262 |  |  | $ | 12 |  |  | $ | 75 |  |  | $ | 87 |
Engraving |  |  | 715 |  |  |  | 94 |  |  |  | 809 |  |  |  | 6 |  |  |  | - |  |  |  | 6 |
Engineering Technologies |  |  | 42 |  |  |  | 724 |  |  |  | 766 |  |  |  | - |  |  |  | 185 |  |  |  | 185 |
Electronics P roducts |  |  | 132 |  |  |  | 26 |  |  |  | 158 |  |  |  | 11 |  |  |  | 98 |  |  |  | 109 |
Hydraulics |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Corporate |  |  | - |  |  |  | 9 |  |  |  | 9 |  |  |  | - |  |  |  | 7 |  |  |  | 7 |
|  | $ | 1,724 |  |  | $ | 1,280 |  |  | $ | 3,004 |  |  | $ | 29 |  |  | $ | 365 |  |  | $ | 394 |
W e incurred severance and other costs of $3.0 million and $0.4 million associated with these activities during the three months ended September 30, 2017 and 2016 respectively. Restructuring expense is expected to be between $5.0 million and $6.0 million for the remainder of fiscal year 2018.

X
- References No definition available. + Details
Name: | us-gaap_DisclosureTextBlockAbstract
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 -URI http://asc.fasb.org/topic&trid=2175745 + Details
Name: | us-gaap_RestructuringAndRelatedActivitiesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration