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Restructuring

12 Months Ended

Aug. 29, 2020

Restructuring and Related Activities [Abstract]

Restructuring

Restructuring

During the third quarter of Fiscal 2020, the Company completed a reduction in force intended to improve operational efficiencies and to align with the Company's long-term strategic plan, which has resulted in headcount reductions in the Motorhome segment. As a result, the Company recognized $1.5 million of restructuring charges during the latter half of Fiscal 2020. These charges include termination benefits.

On February 4, 2019, the Company announced the intent to move the Motorhome diesel production from Junction City, OR to Forest City, IA to enable more effective product development and improve cost structure. The associated charges include termination benefits, asset-related expenses, facility closure costs, headcount reductions, and other related costs. Employee-related costs were primarily paid in Fiscal 2019.

The following table details the aggregate restructuring charges incurred:

			Motorhome
(in thousands)			2020			2019
Cost of goods sold			$	1,650		$	1,724
Selling, general, and administrative expenses			47			219
Restructuring expense			$	1,697		$	1,943

Expenses in the current Fiscal year mainly include headcount reductions and adjustments for facility closure costs. The Company expects approximately $0.4 million of additional restructuring costs related to the facility closure. These costs could be higher or lower in the event the Company makes additional decisions in future periods that impact reorganization efforts.

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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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-URI http://asc.fasb.org/topic&trid=2175745

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