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Restructuring | 12 Months Ended
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Apr. 26, 2014
Restructuring [Abstract] |
Restructuring | Note 3: Restructuring During the fourth quarter of fiscal 2014, we committed to a restructuring of our casegoods business to transition to an all-import model for our wood furniture. As part of this restructuring, we will cease manufacturing casegoods in our Hudson, North Carolina facility during the second quarter of fiscal 2015, and transition our Kincaid and American Drew bedroom product lines to imported product. Due to this plant closure, we will also be exiting the hospitality business as we manufactured those products in our Hudson facility. We are transitioning our warehousing and repair functions from two North Wilkesboro, North Carolina facilities to Hudson. The two North Wilkesboro facilities are currently being marketed for sale, as will the wood-working equipment from our Hudson plant. In addition, the restructuring of our Casegoods business includes marketing our youth furniture business, Lea Industries, for sale. The assets and liabilities of Lea Industries are classified as business held for sale as of the end of fiscal 2014, and the results of operations are reported as a component of discontinued operations. See Note 4 for further information related to our discontinued operations. As a result of our restructuring actions, we recorded pre-tax charges of $8.1 million ($5.3 million after tax) during fiscal 2014, with $4.8 million pre-tax ($3.2 million after tax) related to continuing operations and $3.3 million pre-tax ($2.1 million after tax) related to discontinued operations. Fixed asset and inventory write-downs are based upon estimated net realizable value. The table below details the total pre-tax restructuring expense recorded by type:
(Amounts in thousands) |  | 4/26/14 |
Fixed asset write-downs |  | $ | 2,272 |
Inventory write-downs |  |  | 2,216 |
Other |  |  | 351 |
Total restructuring - continuing operations |  |  | 4,839 |
Inventory write-downs |  |  | 1,804 |
Tradename write-down |  |  | 1,265 |
Other |  |  | 163 |
Total restructuring - discontinued operations |  |  | 3,232 |
Total restructuring expense |  | $ | 8,071 |
The restructuring expenses from continuing operations were recorded as a component of cost of sales and restructuring expenses related to discontinued operations were included in our loss from discontinued operations in our consolidated statement of income. The charges were all recorded at the end of fiscal 2014. During fiscal 2013, we recorded a restructuring charge of $2.6 million, mainly related to fixed asset and inventory write-downs related to the closure of our lumber processing operation in our Casegoods segment.

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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 1 -Subparagraph (SAB TOPIC 5.P.3) -URI http://asc.fasb.org/extlink&oid=27011515&loc=d3e140864-122747 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 5 -Section P -Subsection 3, 4 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 5.P.4) -URI http://asc.fasb.org/extlink&oid=27011515&loc=d3e140904-122747 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 + Details
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