11RESTRUCTURING

On July 11, 2012, the Company announced plans to restructure certain operations related to its Watercraft segment. Specifically, the Company restructured its product sales and distribution in Europe and consolidated all of its U.S. operations at a single location in Old Town, Maine. The Company believes this plan will enhance the competitiveness and profit potential of its Watercraft business. This action resulted in the closure of two sales offices in the U.K. and France, the closure of a marketing and R&D facility in Bellingham, Washington and the elimination of approximately 24 positions in the U.S. and Europe. The related charges are included in the “Administrative management, finance and information systems” line in the Company’s accompanying Condensed Consolidated Statements of Operations in the Watercraft segment. The restructuring accrual is included in the “Other current liabilities” line in the Company’s accompanying Condensed Consolidated Balance Sheets. The planned actions related to this restructuring were completed in fiscal 2013 and the Company expects the total cost of this restructuring to be approximately $2,597. The remaining restructuring liabilities should be settled by the end of fiscal 2014.

Changes in the accrual related to this restructuring project for the six month period ended March 28, 2014 were as follows:



		Employee Termination Costs		Contract Exit Costs		Other Exit Costs		Total
Accrued restructuring liabilities as of September 27, 2013		84		219		203		506
Activity during the period ended March 28, 2014:
Charges to earnings		-		(10)		-		(10)
Settlement payments		(45)		(181)		(89)		(315)
Accrued restructuring liabilities as of March 28, 2014	$	39	$	28	$	114	$	181