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Restructuring | 12 Months Ended
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May 31, 2016
Restructuring and Related Activities [Abstract] |
RESTRUCTURING | RESTRUCTURING On December 5, 2013, we announced a company-wide operational excellence program designed to save between $15 and $18 million during the course of the next three years. The initiative is expected to create greater efficiencies and drive business performance improvements by focusing on several key elements, including product rationalization, lean manufacturing initiatives, supply chain optimization and enterprise resource planning (ERP) implementation. The plan also incorporates the consolidation of our New York plants to establish a single manufacturing center in Glens Falls and a distribution center in Queensbury. During the course of the three years program, we reduced our New York employee base by approximately 80-100 positions as a result of this plant consolidation and reorganization. We have invested $5.4 million in facility improvements to date. In addition, total restructuring charges are estimated to be $4.9 million. During the year ended May 31, 2016, the cost incurred was $1.5 million, consisting of $1.0 million of accelerated depreciation and $0.5 million of other related costs. During the year ended May 31, 2015, the cost incurred was $2.0 million, consisting of $0.5 million of severance and related costs and $1.5 million of accelerated depreciation. These costs are included in “Acquisition, restructuring and other items, net” in the statements of income. During the year ended May 31, 2015, we initiated a restructuring of finance, R&D and S&M organizations to improve our profitability. As part of the restructuring, we recorded $1.9 million and $0.8 million, for the years ended May 31, 2016 and 2015, respectively, in severance expense which is included in "Acquisition, restructuring and other items, net" in the statement of operations. In addition, we recorded a gain of $0.7 million related to the modification of the stock based compensation for the former CEO.

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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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4) -URI http://asc.fasb.org/extlink&oid=27011515&loc=d3e140904-122747 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 5.P.3) -URI http://asc.fasb.org/extlink&oid=27011515&loc=d3e140864-122747 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 + Details
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