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Note 16 - Restructuring | 12 Months Ended
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Jun. 30, 2019
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 |
2019 Restructuring Initiatives |  | $ | 1,167 |  |  | $ | 84 |  |  | $ | 1,251 |
Prior Year Initiatives |  |  | 252 |  |  |  | 132 |  |  |  | 384 |
Total expense |  | $ | 1,419 |  |  | $ | 216 |  |  | $ | 1,635 |
2018 Restructuring Initiatives |  | $ | 2,387 |  |  | $ | 3,476 |  |  | $ | 5,863 |
Prior Year Initiatives |  |  | 224 |  |  |  | 877 |  |  |  | 1,101 |
Total expense |  | $ | 2,611 |  |  | $ | 4,353 |  |  | $ | 6,964 |
2017 Restructuring Initiatives |  | $ | 1,862 |  |  | $ | 3,527 |  |  | $ | 5,389 |
Prior Year Initiatives |  |  | - |  |  |  | 372 |  |  |  | 372 |
Total expense |  | $ | 1,862 |  |  | $ | 3,899 |  |  | $ | 5,761 |
2019 Restructuring Initiatives The Company continues to focus our efforts to reduce cost and improve productivity across our businesses, particularly through headcount reductions, facility closures, and consolidations. During fiscal year 2019, we also incurred restructuring expenses related to third party assistance with analysis and implementation of these activities.
|  | Involuntary |  |  |  |  |  |  |  |  |
|  | Employee Severance |  |  |  |  |  |  |  |  |
|  | and Benefit Costs |  |  | Other |  |  | Total |
Restructuring liabilities at June 30, 2018 |  | $ | - |  |  | $ | - |  |  | $ | - |
Additions and adjustments |  |  | 1,167 |  |  |  | 84 |  |  |  | 1,251 |
Payments |  |  | (1,020 | ) |  |  | (79 | ) |  |  | (1,099 | )
Restructuring liabilities at June 30, 2019 |  | $ | 147 |  |  | $ | 5 |  |  | $ | 152 |
2018 Restructuring Initiatives During the fiscal year ended June 30, 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. The Company anticipates further restructuring charges in 2020 based upon market conditions and cost reduction activities to improve our competitive advantage. Activity in the reserves related to 2018 restructuring initiatives is as follows (in thousands):
|  | Involuntary Employee |  |  |  |  |  |  |  |  |
|  | Severance and |  |  |  |  |  |  |  |  |
|  | Benefit Costs |  |  | Other |  |  | Total |
Restructuring liabilities at June 30, 2018 |  | $ | 147 |  |  | $ | 334 |  |  | $ | 481 |
Additions and adjustments |  |  | 252 |  |  |  | 132 |  |  |  | 384 |
Payments |  |  | (399 | ) |  |  | (466 | ) |  |  | (865 | )
Restructuring liabilities at June 30, 2019 |  | $ | - |  |  | $ | - |  |  | $ | - |
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, 2017 |  | $ | 490 |  |  | $ | 1,189 |  |  | $ | 1,679 |
Additions and adjustments |  |  | 2,780 |  |  |  | 3,715 |  |  |  | 6,495 |
Payments |  |  | (3,123 | ) |  |  | (4,570 | ) |  |  | (7,693 | )
Restructuring liabilities at June 30, 2018 |  | $ | 147 |  |  | $ | 334 |  |  | $ | 481 |
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 2019 |  |  |  |  |  |  |  |  |  |  |  |
Engraving |  | $ | 662 |  |  | $ | - |  |  | $ | 662 |
Electronics |  |  | 327 |  |  |  | 27 |  |  |  | 354 |
Engineering Technologies |  |  | 17 |  |  |  | 99 |  |  |  | 116 |
Food Service Equipment |  |  | 277 |  |  |  | 90 |  |  |  | 367 |
Corporate and Other |  |  | 136 |  |  |  | - |  |  |  | 136 |
Total expense |  | $ | 1,419 |  |  | $ | 216 |  |  | $ | 1,635 |
Fiscal Year 2018 |  |  |  |  |  |  |  |  |  |  |  |
Engraving |  | $ | 1,199 |  |  | $ | 488 |  |  | $ | 1,687 |
Electronics |  |  | 215 |  |  |  | 84 |  |  |  | 299 |
Engineering Technologies |  |  | 224 |  |  |  | 874 |  |  |  | 1,098 |
Food Service Equipment |  |  | 681 |  |  |  | 2,855 |  |  |  | 3,536 |
Corporate and Other |  |  | 292 |  |  |  | 52 |  |  |  | 344 |
Total expense |  | $ | 2,611 |  |  | $ | 4,353 |  |  | $ | 6,964 |
Fiscal Year 2017 |  |  |  |  |  |  |  |  |  |  |  |
Engraving |  | $ | 6 |  |  | $ | - |  |  | $ | 6 |
Electronics |  |  | 11 |  |  |  | 488 |  |  |  | 499 |
Engineering Technologies |  |  | 809 |  |  |  | 3,070 |  |  |  | 3,879 |
Food Service Equipment |  |  | 1,100 |  |  |  | 22 |  |  |  | 1,122 |
Corporate and Other |  |  | (64 | ) |  |  | 319 |  |  |  | 255 |
Total expense |  | $ | 1,862 |  |  | $ | 3,899 |  |  | $ | 5,761 |

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -URI http://asc.fasb.org/topic&trid=2175745 + Details
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