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Note 21 - Other Operating Expense, Net

12 Months Ended

Jun. 29, 2014

Other Operating Income and Expense [Text Block]

21. Other Operating Expense, Net

The components of other operating expense, net consist of the following:

	For the Fiscal Years Ended
	June 29, 2014		June 30, 2013			June 24, 2012
Operating expenses for Renewables	$	2,749	$	2,396		$	1,633
Restructuring charges, net		1,273		813			71
Foreign currency transaction losses (gains)		504		(132	)		270
Net loss on sale or disposal of assets		475		243			369
Other, net		288		89			(272	)
Other operating expense, net	$	5,289	$	3,409		$	2,071

Operating expenses for Renewables include amounts incurred for employee costs, land and equipment rental costs, operating supplies, product testing and administrative costs. Operating expenses for Renewables also include $343, $230 and $97 of depreciation and amortization expense for the fiscal years ended June 29, 2014, June 30, 2013 and June 24, 2012, respectively.

The components of restructuring charges, net consist of the following:

	For the Fiscal Years Ended
	June 29, 2014			June 30, 2013			June 24, 2012
Severance	$	941		$	948		$	—
Equipment relocation and reinstallation costs		356			—			—
Other		(24	)		(135	)		71
Restructuring charges, net	$	1,273		$	813		$	71

Severance

On May 14, 2013, the Company and one of its executive officers entered into a severance agreement that provides severance and certain other benefits through November 2014. On August 12, 2013, the Company and another of its executive officers entered into a severance agreement that provides severance payments through November 2014 and certain other benefits through the earlier of his new employment, gainful self-employment or December 2014. The table below presents changes to the severance reserves for the fiscal year ended June 29, 2014:

Balance

June 30, 2013

Charged to expense

Charged to other accounts

Payments

Adjustments

Balance

June 29, 2014

Accrued severance

1,186

941

244

(1,997

)

—

374

Equipment Relocation and Reinstallation Costs

During fiscal year 2014, the Company dismantled and relocated certain polyester draw warping equipment from Monroe, North Carolina to a Burlington, North Carolina facility. The Company also dismantled and relocated certain polyester texturing and twisting equipment between locations in North Carolina and El Salvador. The costs incurred for the relocation of equipment were charged to restructuring expense within the Polyester Segment as incurred.