XML 38 R8.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Note 3 - Restructuring Charges | 9 Months Ended
--- | ---
Jun. 29, 2013
Restructuring and Related Activities Disclosure [Text Block] |
Restructuring and Related Activities Disclosure [Text Block] | (3) Restructuring Charges On November 19, 2010, the Company purchased certain of the assets and assumed certain of the liabilities of Ivy Steel and Wire, Inc. (“Ivy”) for a final adjusted purchase price of $50.3 million (the “Ivy Acquisition”). Ivy was one of the nation’s largest producers of welded wire reinforcement and wire products for concrete construction applications. The addition of Ivy’s facilities has enhanced the Company’s competitiveness in its Northeast, Midwest and Florida markets, in addition to providing a platform to serve the West Coast markets more effectively. The assets purchased included Ivy’s production facilities in Arizona, Florida, Missouri and Pennsylvania; production equipment in Texas; and certain related inventories. In addition, the Company assumed certain of Ivy’s accounts payable and employee benefit obligations. Subsequent to the Ivy Acquisition, the Company elected to consolidate certain of its welded wire reinforcement operations in order to reduce its operating costs, which involved the closure of facilities in Wilmington, Delaware and Houston, Texas. These actions were taken in response to the close proximity of Ivy’s facilities in Hazleton, Pennsylvania and Houston, Texas to the Company’s existing facilities in Wilmington, Delaware and Dayton, Texas. The Houston plant closure was completed in December 2010 and the Wilmington plant closure was completed in May 2011. All of the restructuring activities associated with the Ivy Acquisition were concluded during fiscal 2012. Following is a summary of the restructuring activities and associated costs that were incurred during the three- and nine-month periods ended June 30, 2012:
(In thousands) |  | Severance and other employee costs |  |  | Asset impairment charges |  |  | Facility closure costs |  |  | Equipment relocation costs |  |  | Total |
Liability as of October 1, 2011 |  | $ | 65 |  |  | $ | - |  |  | $ | 77 |  |  | $ | 112 |  |  | $ | 254 |
Restructuring charges |  |  | (40 | ) |  |  | (11 | ) |  |  | 139 |  |  |  | 511 |  |  |  | 599 |
Cash payments |  |  | (25 | ) |  |  | - |  |  |  | (216 | ) |  |  | (456 | ) |  |  | (697 | )
Non-cash charges |  |  | - |  |  |  | 11 |  |  |  | - |  |  |  | - |  |  |  | 11 |
Liability as of December 31, 2011 |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | 167 |  |  | $ | 167 |
Restructuring charges |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 203 |  |  |  | 203 |
Cash payments |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (208 | ) |  |  | (208 | )
Liability as of March 31, 2012 |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | 162 |  |  | $ | 162 |
Restructuring charges |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 30 |  |  |  | 30 |
Cash payments |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (192 | ) |  |  | (192 | )
Liability as of June 30, 2012 |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |
During the nine-month period ended June 30, 2012, all of the remaining severance liabilities were satisfied and the final proceeds were received from the sale of previously impaired machinery and equipment, which have been included within asset impairment charges.

X
- Details
Name: | iiin_RestructuringAndRelatedActivitiesDisclosureTextBlockAbstract
Namespace Prefix: | iiin_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_RestructuringAndRelatedActivitiesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration