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Note L - Restructuring of Operations | 6 Months Ended
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Dec. 27, 2019
Notes to Financial Statements |
Restructuring, Impairment, and Other Activities Disclosure [Text Block] |
L. | Restructuring of Operations
The Company has implemented various restructuring programs in response to unfavorable macroeconomic trends in certain of the Company’s markets since the fourth quarter of fiscal 2015. These programs primarily involved the reduction of workforce in several of the Company’s manufacturing locations, under a combination of voluntary and involuntary programs. In its European operations, the Company also implemented actions to reorganize for productivity. These actions resulted in restructuring charges of $1,063 and $1,184 in the quarter and two quarters ended December 27, 2019, respectively, and restructuring charges of $434 and $607 for the quarter and two quarters ended December 28, 2018, respectively. Restructuring activities since June 2015 have resulted in the elimination of 203 full-time employees in the manufacturing segment. Accumulated costs to date under these programs within the manufacturing segment through December 27, 2019 were $11,636. During the second quarter of fiscal 2020, a long-term marine propulsion development program, for which the Company had provided development and production services, was terminated. The cost of exiting the contract consisted of a noncash write-off of assets and liabilities relating to the program amounting to $2,185, and a cash settlement to satisfy supplier commitments associated with the program amounting to $1,000. The Company has classified the total contract exit cost of $3,185 as a restructuring charge, within the manufacturing segment, in the quarter ending December 27, 2019. The following is a roll-forward of restructuring activity:
Accrued restructuring liability, June 30, 2019 |  | $ | - |
Additions related to workforce reduction |  |  | 1,184 |
Additions related to program termination |  |  | 3,185 |
Payments, adjustments and write-offs during the year |  |  | (2,710 | )
Accrued restructuring liability, December 27, 2019 |  | $ | 1,659 |

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- Definition The entire disclosure of costs incurred for restructuring including, but not limited to, exit and disposal activities, remediation, implementation, integration, asset impairment, and charges against earnings from the write-down of assets. + References No definition available. + Details
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