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Note 10 - Restructuring and Other Impairment Activates - Restructuring and Other Impairments Charges, Net of Gains, Were as Follows (Details) - USD ($)
$ in Thousands
12 Months Ended
Aug. 01, 2022
Jun. 30, 2024
Jun. 30, 2023
Gain on sale-leaseback transaction $ 1,800 $ 2,620 $ 4,222
Balance   3,159  
Orleans, Vermont flood   2,243 0
Expense (Gain)   (77) (3,720)
Non-Cash   1,426  
Payments   (2,618)  
Gain on sale of property, plant and equipment   (0) 311
Proceeds   1,599  
Balance   637 3,159
Severance and other charges   300 813
Total Restructuring and other charges, net of gains   (77) (3,720)
Flood [Member]      
Balance [1]   0  
Orleans, Vermont flood   2,243  
Expense (Gain) [1]   2,243  
Non-Cash [1]   1,426  
Payments [1]   (2,215)  
Proceeds [1]   1,599  
Balance [1]   201 0
Total Restructuring and other charges, net of gains [1]   2,243  
Inventory Write-downs and Overhead Manufacturing Costs [Member] | Flood [Member]      
Balance [1]   0  
Expense (Gain) [1]   1,426  
Non-Cash [1]   1,426  
Payments [1]   0  
Proceeds [1]   0  
Balance [1]   0 0
Total Restructuring and other charges, net of gains [1]   1,426  
Repair and Remediation Costs [Member] | Flood [Member]      
Balance [1]   0  
Expense (Gain) [1]   2,416  
Non-Cash [1]   0  
Payments [1]   (2,215)  
Proceeds [1]   0  
Balance [1]   201 0
Total Restructuring and other charges, net of gains [1]   2,416  
Insurance Recoveries and Grant Proceeds [Member] | Flood [Member]      
Balance [1],[2]   0  
Expense (Gain) [1],[2]   (1,599)  
Non-Cash [1],[2]   0  
Payments [1],[2]   0  
Proceeds [1],[2]   1,599  
Balance [1],[2]   0 0
Total Restructuring and other charges, net of gains [1],[2]   (1,599)  
Sale-leaseback Transaction [Member]      
Balance [3]   2,838  
Expense (Gain) [3]   (2,620)  
Non-Cash [3]   0  
Payments [3]   0  
Proceeds [3]   0  
Balance [3]   218 2,838
Total Restructuring and other charges, net of gains [3]   (2,620)  
Employee Severance and Other Charges (Income) [Member]      
Balance   321  
Expense (Gain)   300  
Non-Cash   0  
Payments   (403)  
Proceeds   0  
Balance   218 $ 321
Total Restructuring and other charges, net of gains   $ 300  
[1] In July 2023 our wood furniture manufacturing operations located in Orleans, Vermont sustained damage from flooding. In addition to losses related to wood furniture inventory parts and state-of-the-art manufacturing equipment, the flooding also resulted in a temporary work stoppage for many of our Vermont employees and a delay of shipments. Losses incurred from the disposal of damaged inventory, inoperable machinery equipment from water damage, facility cleanup, and restoration, was $2.2 million, net of insurance recoveries and grant proceeds. The remaining amount of repair costs to be paid at June 30, 2024 is accrued for within Accounts payable and accrued expenses.
[2] The Vermont Department of Economic Development awarded Ethan Allen a $0.5 million grant through its Business Emergency Gap Assistance Program. Additional insurance proceeds totaling $1.1 million were received during fiscal 2024 from existing insurance policies. All of these proceeds were used toward the cleanup and restoration efforts.
[3] In August 2022 we sold and subsequently leased back a retail design center and recognized a net gain of $4.2 million for the year ended June 30, 2023. The remaining deferred liability of $0.2 million at June 30, 2024 will be recognized over the remaining life of the lease. Refer to Note 6, Leases, for further discussion on the sale-leaseback transaction.