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Note 10 - Plant Restructuring

3 Months Ended

Jun. 27, 2020

Notes to Financial Statements

Restructuring and Related Activities Disclosure [Text Block]

10. Plant Restructuring

The following table summarizes the rollforward of restructuring charges and related asset impairment charges recorded and the accruals established:

		Restructuring Payable
		Severance				Other Costs				Total
		(In thousands)
Balance March 31, 2020		$	202			$	-			$	202
First quarter charge			219				44				263
Cash payments/write offs			(203	)			(44	)			(247	)
Balance June 27, 2020		$	218			$	-			$	218

		Severance				Other Costs				Total
		(In thousands)
Balance March 31, 2019		$	225			$	1			$	226
First quarter charge			586				4,220				4,806
Cash payments/write offs			(170	)			(4,220	)			(4,390	)
Balance June 29, 2019		$	641			$	1			$	642

During the quarter ended June 27, 2020, the Company recorded a restructuring charge of $263,000 related to the closing of plants in the Northwest, of which $219,000 was related to severance and $44,000 was for lease impairments.

During the quarter ended June 29, 2019, the Company recorded a restructuring charge of $4,806,000 related to the closing of plants in the Midwest and Northwest of which $2,245,000 was for accelerated amortization of right of use operating lease assets, $1,975,000 was mostly related to equipment moves and $586,000 was related to severance.

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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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