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Restructuring and Impairment

9 Months Ended

Oct. 03, 2015

Restructuring and Related Activities [Abstract]

Restructuring and Impairment

Restructuring and Impairment

As a result of the Corporation's ongoing business simplification and cost reduction strategies, the Corporation has closed, consolidated, and realigned a number of its office furniture facilities and made the decision to exit a line of business within our hearth products segment. During the quarter ended October 3, 2015, the Corporation incurred $1.0 million of restructuring costs of which $0.8 million were included in "Cost of sales" in the Condensed Consolidated Statements of Comprehensive Income. For the nine months ended October 3, 2015, the Corporation incurred $0.8 million of restructuring costs of which $0.8 million were included in cost of sales. Severance and facility exit costs not included in cost of sales were offset by lower than anticipated post employment costs.

During the quarter ended September 27, 2014 the Corporation recorded $3.4 million of pre-tax charges of which $2.4 million were included in cost of sales. For the nine months ended September 27, 2014 the Corporation recorded $16.2 million of restructuring costs of which $5.0 million were included in cost of sales. The pre-tax charges included $5.0 million of accelerated depreciation on machinery and equipment, $2.4 million of severance and facility exit costs and $8.9 million of goodwill impairment.

The following is a summary of changes in restructuring accruals during the nine months ended October 3, 2015.  

(In thousands)		Severance				Facility Exit Costs & Other				Total
Balance as of January 3, 2015		$	1,213			$	—			$	1,213
Restructuring charges		(655		)		643				(12		)
Cash payments		(311		)		(628		)		(939		)
Balance as of October 3, 2015		$	247			$	15			$	262

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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/presentationRef



-Publisher FASB



-Name Accounting Standards Codification



-Topic 420



-SubTopic 10



-Section S99



-Paragraph 2



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Reference 2: http://www.xbrl.org/2003/role/presentationRef



-Publisher FASB



-Name Accounting Standards Codification



-Topic 420



-SubTopic 10



-Section S99



-Paragraph 1



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-URI http://asc.fasb.org/extlink&oid=27011515&loc=d3e140864-122747



Reference 3: http://www.xbrl.org/2003/role/presentationRef



-Publisher FASB



-Name Accounting Standards Codification



-Topic 420



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-Section 50



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-URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869



Reference 4: http://www.xbrl.org/2003/role/presentationRef



-Publisher SEC



-Name Staff Accounting Bulletin (SAB)



-Number Topic 5



-Section P



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