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Note 17 - Restructuring | 3 Months Ended
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Sep. 30, 2021
Notes to Financial Statements |
Restructuring and Related Activities Disclosure [Text Block] | 17) Restructuring The Company has undertaken a number of initiatives that have resulted in severance, restructuring, and related charges. 2022 Restructuring Initiatives The Company continues to focus its efforts to reduce cost and improve productivity across its businesses, particularly through headcount reductions, facility closures, and consolidations. Restructuring expenses primarily related to headcount reductions and other cost saving initiatives. The Company expects the 2022 restructuring activities to be completed by 2023. Prior Year Restructuring Initiatives Restructuring expenses primarily related to headcount reductions and facility rationalization within our Specialty Solutions segment. The Company also incurred restructuring expenses related to third party assistance with analysis and implementation of these activities. The Company expects the prior year restructuring activities to be completed by 2022. A summary of charges by initiative is as follows (in thousands):
|  | Three Months Ended |
|  | September 30, 2021 |
Fiscal Year 2022 |  | Involuntary Employee Severance and Benefit Costs |  |  | Other |  |  | Total |
Current year initiatives |  | $ | 375 |  |  | $ | 65 |  |  | $ | 440 |
Prior year initiatives |  |  | - |  |  |  | - |  |  |  | - |
|  | $ | 375 |  |  | $ | 65 |  |  | $ | 440 |
|  | Three Months Ended |
|  | September 30, 2020 |
Fiscal Year 2021 |  | Involuntary Employee Severance and Benefit Costs |  |  | Other |  |  | Total |
Current year initiatives |  | $ | 242 |  |  | $ | 161 |  |  | $ | 403 |
Prior year initiatives |  |  | 812 |  |  |  | 273 |  |  |  | 1,085 |
|  | $ | 1,054 |  |  | $ | 434 |  |  | $ | 1,488 |
Activity in the reserve related to the initiatives is as follows (in thousands):
Current Year Initiatives |  | Involuntary Employee Severance and Benefit Costs |  |  | Other |  |  | Total |
Restructuring liabilities at June 30, 2021 |  | $ | - |  |  | $ | - |  |  | $ | - |
Additions and adjustments |  |  | 375 |  |  |  | 65 |  |  |  | 440 |
Payments |  |  | (375 | ) |  |  | (65 | ) |  |  | (440 | )
Restructuring liabilities at September 30, 2021 |  | $ | - |  |  | $ | - |  |  | $ | - |
Prior Year Initiatives |  | Involuntary Employee Severance and Benefit Costs |  |  | Other |  |  | Total |
Restructuring liabilities at June 30, 2021 |  | $ | 39 |  |  | $ | 10 |  |  | $ | 49 |
Additions and adjustments |  |  | - |  |  |  | - |  |  |  | - |
Payments |  |  | (39 | ) |  |  | (10 | ) |  |  | (49 | )
Restructuring liabilities at September 30, 2021 |  | $ | - |  |  | $ | - |  |  | $ | - |
Prior Year Initiatives |  | Involuntary Employee Severance and Benefit Costs |  |  | Other |  |  | Total |
Restructuring liabilities at June 30, 2020 |  | $ | 520 |  |  | $ | 18 |  |  | $ | 538 |
Additions and adjustments |  |  | 1,054 |  |  |  | 434 |  |  |  | 1,488 |
Payments |  |  | (1,483 | ) |  |  | (419 | ) |  |  | (1,902 | )
Restructuring liabilities at September 30, 2020 |  | $ | 91 |  |  | $ | 33 |  |  | $ | 124 |
The Company’s total restructuring expenses by segment are as follows (in thousands):
|  | Three Months Ended |
|  | September 30, 2021 |
|  | Involuntary Employee Severance and Benefit Costs |  |  | Other |  |  | Total |
Electronics |  | $ | - |  |  | $ | - |  |  | $ | - |
Engraving |  |  | 284 |  |  |  | 65 |  |  |  | 349 |
Engineering Technologies |  |  | 91 |  |  |  | - |  |  |  | 91 |
Specialty Solutions |  |  | - |  |  |  | - |  |  |  | - |
Corporate |  |  | - |  |  |  | - |  |  |  | - |
|  | $ | 375 |  |  | $ | 65 |  |  | $ | 440 |
|  | Three Months Ended |
|  | September 30, 2020 |
|  | Involuntary Employee Severance and Benefit Costs |  |  | Other |  |  | Total |
Electronics |  | $ | 169 |  |  | $ | 5 |  |  | $ | 174 |
Engraving |  |  | 91 |  |  |  | 147 |  |  |  | 238 |
Engineering Technologies |  |  | 35 |  |  |  | - |  |  |  | 35 |
Specialty Solutions |  |  | 673 |  |  |  | 282 |  |  |  | 955 |
Corporate |  |  | 86 |  |  |  | - |  |  |  | 86 |
|  | $ | 1,054 |  |  | $ | 434 |  |  | $ | 1,488 |
Restructuring expense is expected to be approximately $1.6 million for the remainder of fiscal year 2022.

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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/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4(e)) -URI http://asc.fasb.org/extlink&oid=115931487&loc=d3e140904-122747 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -URI http://asc.fasb.org/topic&trid=2175745 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b)(2) -URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 + Details
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