Restructuring And Related Activities

12 Months Ended

Mar. 31, 2015

Restructuring And Related Activities [Abstract]

Restructuring And Related Activities Disclosure Text Block

14. Plant Restructuring

During 2015, the Company recorded a restructuring charge of $1.4 million related to the closing of a plant in the Midwest and the realignment of two other plants, one in the Midwest and the other in the Northwest, of which $0.8 million was related to severance cost, $0.3 million was related to equipment costs (contra fixed assets), and $0.3 million was related to equipment relocation costs.

During 2013, the Company implemented a product rationalization program and recorded a restructuring charge of $3.5 million for related equipment costs (contra fixed assets), lease impairment costs (net of realizable value), and certain inventory costs. During 2014, the Company adjusted the costs of the product rationalization program, started in 2013, by $0.5 million, mostly related to equipment costs.

The following table summarizes the restructuring and related asset impairment charges recorded and the accruals established during 2013, 2014 and 2015:

				Long-Lived
				Asset		Other
		Severance		Charges		Costs		Total
		(In thousands)

Balance March 31, 2012	$	37	$	-	$	-	$	37
Third-quarter charge to expense		-		1,107		1,403		2,510
Fourth-quarter charge to expense		-		109		878		987
Cash payments/write offs		(17)		(42)		(1,974)		(2,033)
Balance March 31, 2013		20		1,174		307		1,501
First-quarter charge to expense		-		-		154		154
Second-quarter charge to expense		-		341		6		347
Cash payments/write offs		(10)		(1,515)		(467)		(1,992)
Balance March 31, 2014		10		-		-		10
Third-quarter charge to expense		533		316		40		889
Fourth-quarter charge to expense		309		(52)		230		487
Cash payments/write offs		(137)		-		-		(137)
Balance March 31, 2015	$	715	$	264	$	270	$	1,249

- 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+ Details