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Note 13 - Restructuring and Other Impairment Activities | 6 Months Ended
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Dec. 31, 2022
Notes to Financial Statements |
Restructuring, Impairment, and Other Activities Disclosure [Text Block] |
(13) | Restructuring and Other Impairment Activities
Restructuring and other impairment charges, net of gains, were as follows (in thousands):
|  | Three months ended December 31, |  |  | Six months ended December 31, |
|  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
Gain on sale-leaseback transaction(1) |  | $ | (654 | ) |  | $ | - |  |  | $ | (2,911 | ) |  | $ | - |
Gain on sale of property, plant and equipment(2) |  |  | - |  |  |  | (3,913 | ) |  |  | - |  |  |  | (3,913 | )
Severance and other charges |  |  | 458 |  |  |  | 280 |  |  |  | 719 |  |  |  | 535 |
Total Restructuring and other impairment charges, net of gains |  | $ | (196 | ) |  | $ | (3,633 | ) |  | $ | (2,192 | ) |  | $ | (3,378 | )
(1) | In August 2022, we sold and subsequently leased back a retail design center and recognized a net gain of $0.7 million and $2.9 million for the three and six months ended December 31, 2022, respectively. The remaining deferred liability was $4.1 million as of December 31, 2022 and will be recognized over the remaining life of the lease. Refer to Note 6, Leases, for further discussion on the sale-leaseback transaction.
(2) | In October 2021, we sold our Atoka, Oklahoma distribution center to an independent third party and received $2.8 million in cash less $0.2 million in closing costs. As a result of the sale, the Company recognized a pre-tax gain of $2.0 million in the second quarter of fiscal 2022. In addition, in December 2021, we sold a property for $5.6 million in cash, which resulted in a pre-tax gain of $1.9 million.
Restructuring payments made by the Company during the first six months of fiscal 2023 were $0.8 million, which were primarily for severance and lease payments due under a retail design center that was previously exited. Excluding the deferred liability of $4.1 million related to the sale-leaseback transaction, the remaining restructuring balance as of December 31, 2022 was less than $0.4 million, which is anticipated to be paid during the remainder of fiscal 2023.

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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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