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Note 11 - Restructuring and Other Impairment Activities | 3 Months Ended
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Sep. 30, 2021
Notes to Financial Statements |
Restructuring, Impairment, and Other Activities Disclosure [Text Block] |
(11) | Restructuring and Other Impairment Activities
Restructuring and other impairment charges, net of gains, were as follows (in thousands):
|  | Three months ended September 30, |
|  | 2021 |  |  | 2020 |
Optimization of manufacturing and logistics(1) |  | $ | 111 |  |  | $ | - |
Severance and other charges(2) |  |  | 144 |  |  |  | - |
Impairment of long-lived assets (3) |  |  | - |  |  |  | 623 |
Total Restructuring and other impairment charges, net of gains |  | $ | 255 |  |  | $ | 623 |
(1) | Over the past three years, we have executed on many key initiatives to optimize further our manufacturing and logistics, including closing our Passaic, New Jersey property, converting our Old Fort, North Carolina case goods manufacturing operations into a distribution center, expanding our existing Maiden, North Carolina manufacturing campus and most recently, closing our Atoka, Oklahoma distribution center and consolidating its workflow into our Old Fort, North Carolina facility. The current year charge of $0.1 million related to the closing of our Atoka distribution center and included within the line item Restructuring and other impairment charges, net of gains in the consolidated statements of comprehensive income.
(2) | We recorded $0.1 million of charges primarily related to severance for employees at our Atoka distribution center and certain associates in our retail segment. These charges were recorded in the consolidated statement of comprehensive income within the line item Restructuring and other impairment charges, net of gains.
(3) | In the prior year first quarter, we recorded a non-cash charge of $0.6 million related to the impairment of long-lived assets held at a retail design center location. The asset group used for the impairment analysis was the individual retail design center, which represented the lowest level for which identifiable cash flows were available and largely independent of the cash flows of other groups of assets. We estimated future cash flows based on the design center-level historical results, current trends and operating and cash flow projections. The $0.6 million non-cash charge was recorded in the consolidated statement of comprehensive income within the line item Restructuring and other impairment charges, net of gains.
Restructuring payments made by the Company during the first quarter of fiscal 2022 were $0.4 million, which were primarily for severance, lease exit costs (ongoing monthly rent) and Atoka wind down costs. As of September 30, 2021, remaining restructuring liabilities totaled $0.9 million.

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- Definition The entire disclosure of costs incurred for restructuring including, but not limited to, exit and disposal activities, remediation, implementation, integration, asset impairment, and charges against earnings from the write-down of assets. + References No definition available. + Details
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