L.	Restructuring of Operations and Other Operating Income

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

$532

and

$1,717

in the quarter and

three

quarters ended

March 27, 2020,

respectively, and restructuring charges of

$131

and

$738

for the quarter and

three

quarters ended

March 29, 2019,

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

March 27, 2020

were

$12,169.

During the

second

quarter of fiscal

2020,

a 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

three

quarters ended

March 27, 2020.

During the

third

quarter of fiscal

2019,

and as previously reported in our prior year financial statements, the Company reported other operating income resulting from the sale of its distribution business in the northwestern U.S. and western Canada territories (the “Mill Log business”) at a pre-tax gain of

$865,

and the remeasurement of a contingent consideration related to the acquisition of Veth Propulsion, in the amount of

$492.

The note received from the buyer of the Mill Log business in the original amount of

$2,500

was due on

March 4, 2020.

As of

March 27, 2020,

the Company has agreed to a revised payment schedule after collecting

$500,

and is carrying the balance of

$2,000

in other current assets.

The following is a roll-forward of restructuring activity:

Accrued restructuring liability, June 30, 2019	$	-
Additions related to workforce reduction and reorganization programs		1,717
Additions related to contract termination		3,185
Payments, adjustments and write-offs during the year		(4,531	)
Accrued restructuring liability, March 27, 2020	$	371