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Note 4 - Restructuring Charges and Acquisition Costs
 12 Months Ended
Sep. 30, 2017
Notes to Financial Statements  
Restructuring and Related Activities Disclosure [Text Block]
(
4
)
Restructuring Charges
 
In
2014
we purchased substantially all of the assets associated with the PC strand business
of American Spring Wire Corporation (“ASW Acquisition”). Subsequent to the ASW Acquisition, in
2014,
we incurred employee separation costs for staffing reductions associated with the acquisition. In
February 2015,
we elected to consolidate our PC strand operations with the closure of the Newnan, Georgia facility that had been acquired through the ASW Acquisition, which was completed in
March 2015.
 
Following is a summary of the restructuring activities and associated costs that were incurred during
2017,
2016
and
2015:
 
   
 
    
 
 
 
  
Severance and
    
 
 
 
  
 
    
 
 
 
(In thousands)
  
Asset
Impairment
    
Equipment
    
Other Employee
Separation
    
Facility
    
Gain on Sale
of Property
    
 
 
 
   
Charges
    
Relocation Costs
    
Costs
    
Closure Costs
    
and Equipment
    
Total
  
2017
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Liability as of October 1, 2016
   $
-
     $
31
     $
239
     $
-
     $
-
     $
270
  
Restructuring charges
    
-
      
164
      
-
      
-
      
-
      
164
  
Cash payments
    
-
      
(195
 )    
(239
 )    
-
      
-
      
(434
 )
Non-cash charges
    
-
      
-
      
-
      
-
      
-
      
-
  
Liability as of September 30, 2017
   $
-
     $
-
     $
-
     $
-
     $
-
     $
-
  
                                                 
2016
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Liability as of October 3, 2015
   $
-
     $
-
     $
735
     $
-
     $
-
     $
735
  
Restructuring charges (recoveries)
    
20
      
186
      
-
      
89
      
(180
 )    
115
  
Cash payments
    
-
      
(155
 )    
(496
 )    
(89
 )    
-
      
(740
 )
Non-cash charges
    
(20
 )    
-
      
-
      
-
      
180
      
160
  
Liability as of October 1, 2016
   $
-
     $
31
     $
239
     $
-
     $
-
     $
270
  
                                                 
2015
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Liability as of September 27, 2014
   $
-
     $
-
     $
1,208
     $
-
     $
-
     $
1,208
  
Restructuring charges (recoveries)
    
543
      
79
      
75
      
547
      
(895
 )    
349
  
Cash payments
    
-
      
(79
 )    
(548
 )    
(547
 )    
-
      
(1,174
 )
Non-cash charges
    
(543
 )    
-
      
-
      
-
      
895
      
352
  
Liability as of October 3, 2015
   $
-
     $
-
     $
735
     $
-
     $
-
     $
735
  
 
As of
October 1, 2016,
we recorded restructuring liabilities amounting to
$0.3
million on our consolidated balance sheet, including
$0.1
million in accounts payable and
$0.2
million in accrued expenses. We do
not
currently expect to incur any additional restructuring charges during
2018
related to the consolidation of our PC strand operations.