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Note 5 - Restructuring Charges

12 Months Ended

Sep. 28, 2019

Notes to Financial Statements

Restructuring and Related Activities Disclosure [Text Block]

(

5

)

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:

						Severance and
(In thousands)		Equipment				Other Employee
		Relocation Costs				Separation Costs				Total
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		$	-			$	-			$	-

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- References

No definition available.

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- 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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-URI http://asc.fasb.org/topic&trid=2175745

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