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Note 15 - Plant Restructuring | 12 Months Ended
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Mar. 31, 2018
Notes to Financial Statements |
Restructuring and Related Activities Disclosure [Text Block] | 15. Plant Restructuring During 2018, the Company recorded a total restructuring charge of $10.0 million mostly related to the closing of the Modesto plant in the West ( $5.4 million related to operating lease costs and $4.1 million related to a pension termination cost), of which $0.7 million was related to severance cost ( $0.6 million related to Modesto) and the balance for a plant in the Midwest and Northwest. In addition, there was a true-up credit mostly related to long-lived asset charges (fixed asset impairment) of a credit of $0.4 million and other costs for various equipment transfers of a charge of $0.1 million. During 2017, the Company increased the costs related to the closing of the plant in the Northwest, started in 2016, by $0.5 million, mostly related to operating equipment moving costs. In addition, in 2017 the Company incurred $1.3 million related to severance costs for a plant in the West. During 2016, the Company recorded a restructuring charge of $10.4 million related to the closing of a plant in the Northwest of which $0.2 million was related to severance cost, $5.1 million was related to asset impairments, and $5.1 million was related to other costs ( $3.6 related to operating lease costs). During 2016, the Company reduced the costs of the plant closing in the Midwest, started in 2015, by $0.1 million, mostly related to severance costs. These charges are included under Plant Restructuring in the Consolidated Statements of Net Earnings. Severance Payable and Other Costs Payable are included in Other Accrued Expenses on the Consolidated Balance Sheets. All of these restructuring charges are related to the Fruit and Vegetable segment. The following table summarizes the restructuring and related asset impairment charges recorded and the accruals established during 2016, 2017 and 2018:
|  |  |  |  |  | Long-Lived |  |  | Other |  |  |  |  |
|  | Severance |  |  | Asset |  |  | Cost |  |  |  |  |
|  | Payable |  |  | Impairment |  |  | Payable |  |  | Total |
|  |  |  |  |  | (In thousands) |  |  |  |  |
Balance March 31, 2015 |  | $ | 715 |  |  | $ | 264 |  |  | $ | 270 |  |  | $ | 1,249 |
Charge to expense |  |  | 162 |  |  |  | 5,065 |  |  |  | 5,075 |  |  |  | 10,302 |
Cash payments/write offs |  |  | (877 | ) |  |  | (354 | ) |  |  | (1,448 | ) |  |  | (2,679 | )
Balance March 31, 2016 |  |  | - |  |  |  | 4,975 |  |  |  | 3,897 |  |  |  | 8,872 |
Charge to expense |  |  | 1,578 |  |  |  | (384 | ) |  |  | 635 |  |  |  | 1,829 |
Cash payments/write offs |  |  | (1,541 | ) |  |  | 182 |  |  |  | (4,227 | ) |  |  | (5,586 | )
Balance March 31, 2017 |  |  | 37 |  |  |  | 4,773 |  |  |  | 305 |  |  |  | 5,115 |
Charge to expense |  |  | 722 |  |  |  | (369 | ) |  |  | 9,658 |  |  |  | 10,011 |
Cash payments/write offs |  |  | (198 | ) |  |  | (3,877 | ) |  |  | (468 | ) |  |  | (4,543 | )
Balance March 31, 2018 |  | $ | 561 |  |  | $ | 527 |  |  | $ | 9,495 |  |  | $ | 10,583 |

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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 + Details
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