XML 42 R27.htm IDEA: XBRL DOCUMENT v3.7.0.1
Restructuring Activities Restructuring Activities
12 Months Ended
Feb. 24, 2017
Restructuring and Related Activities [Abstract]  
Restructuring Activities
RESTRUCTURING ACTIVITIES
In Q1 2016, we announced restructuring actions in EMEA related to the establishment of a Learning + Innovation Center in Munich, Germany. In connection with these actions, we incurred $2.8 of business exit and other related costs in the EMEA segment, including $0.9 during 2017 and $1.9 during 2016. We also incurred $6.9 of employee termination costs in the EMEA segment, including $0.2 during 2017 and $6.7 during 2016. These restructuring actions are complete.
In Q2 2015, we announced restructuring actions in EMEA related to the exit of a manufacturing facility in Wisches, France, and the transfer of its activities to other existing facilities in the EMEA region. We incurred $1.1 of business exit and other costs in the EMEA segment in connection with these actions during 2016. During 2015, we incurred $32.8 of business exit and other costs in the EMEA segment in connection with these actions, including $27.3 for a facilitation payment related to the transfer of the facility to a third party. These restructuring actions are complete.
In Q1 2015, we announced restructuring actions in the Americas to close a manufacturing facility in High Point, North Carolina. In connection with these actions, we incurred a total of $4.2 of business exit and other related costs in the Americas segment, including $2.6 during 2017, $0.9 during 2016 and $0.7 during 2015. We also incurred $3.1 of employee termination costs in the Americas segment, including $1.5 during 2016 and $1.6 during 2015. These restructuring actions are complete.
In Q1 2015, we recognized a $12.0 gain related to the sale of an idle manufacturing facility in the Americas segment that was closed as part of previously completed restructuring actions.
In Q3 2014, we announced restructuring actions in EMEA to close a manufacturing facility in Durlangen, Germany, and to establish a new manufacturing location in Stribro, Czech Republic. In connection with this project, we incurred a total of $8.8 related to business exit and other related costs in the EMEA segment, including $1.6 during 2017, $4.9 during 2016 and $1.6 during 2015. We also incurred $17.5 of employee termination costs, including $4.8 during 2016 and $12.7 during 2015. These restructuring actions are complete.
In Q1 2014, we announced restructuring actions in EMEA to reorganize the sales, marketing and support functions in France. We incurred $1.9 of employee termination costs in the EMEA segment in connection with these actions during 2015. These restructuring actions are complete.
Restructuring costs are summarized in the following table:
Restructuring Costs
Year Ended
February 24,
2017
February 26,
2016
February 27,
2015
Cost of sales
 
 
 
 
 
 
Americas
$
2.6

 
$
2.4

 
$
(10.0
)
 
EMEA
1.6

 
10.9

 
47.5

 
Other

 

 

 
 
4.2

 
13.3

 
37.5

 
Operating expenses
 
 
 
 
 
 
Americas

 
(2.9
)
 

 
EMEA
0.9

 
9.5

 
3.1

 
Other

 

 

 
 
0.9

 
6.6

 
3.1

 
 
$
5.1

 
$
19.9

 
$
40.6

 

Below is a summary of the charges, payments and adjustments to the restructuring reserve balance during 2017, 2016 and 2015:
Restructuring Reserve
Workforce  
Reductions  
Business Exits  
and Related  
Costs  
Total  
Reserve balance as of February 28, 2014
$
7.7

 
$
2.0

 
$
9.7

 
Additions
16.4

 
35.0

 
51.4

 
Payments
(8.6
)
 
(34.5
)
 
(43.1
)
 
Adjustments
(1.8
)
 
(0.9
)
 
(2.7
)
 
Reserve balance as of February 27, 2015
$
13.7

 
$
1.6

 
$
15.3

 
Additions
14.5

 
8.2

 
22.7

 
Payments
(17.8
)
 
(8.0
)
 
(25.8
)
 
Adjustments
(0.4
)
 
(1.0
)
 
(1.4
)
 
Reserve balance as of February 26, 2016
$
10.0

 
$
0.8

 
$
10.8

 
Additions
0.3

 
4.8

 
5.1

 
Payments
(5.7
)
 
(4.3
)
 
(10.0
)
 
Adjustments
(0.3
)
 
(0.3
)
 
(0.6
)
 
Reserve balance as of February 24, 2017
$
4.3

 
$
1.0

 
$
5.3

 

The workforce reductions reserve balance as of February 24, 2017 primarily relates to restructuring actions in EMEA.