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Note 16 - Restructuring
12 Months Ended
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