Restructuring Activities

9 Months Ended

Nov. 22, 2013

RESTRUCTURING ACTIVITIES

In Q3 2014, we announced restructuring actions in EMEA to safeguard our global competitiveness through changes in our EMEA manufacturing footprint. We have initiated procedures with the applicable works councils regarding the closure of a manufacturing facility in Germany. In connection with this project, we expect to incur approximately $20 to $25 of cash restructuring costs, with approximately $15 to $20 related to employee termination costs and approximately $5 related to business exit and other related costs. We incurred $0.6 of business exit and other related costs in the EMEA segment in connection with these actions during the three months ended November 22, 2013.

In Q1 2014, we announced restructuring actions in EMEA to reorganize the sales, marketing and support functions in France. In Q2 2014, we completed negotiations with the works councils related to these actions. We currently estimate the cash restructuring costs associated with these actions will be approximately $7, with approximately $6 related to employee termination costs and approximately $1 of business exit and other related costs. We incurred $0.9 and $5.6 of employee termination costs in the EMEA segment during the three and nine months ended November 22, 2013, respectively. We incurred $0.9 of business exit and other related costs in the EMEA segment in connection with these actions during the nine months ended November 22, 2013.

In Q2 2013, we announced plans to integrate PolyVision's global technology business into the Steelcase Education Solutions group. We incurred $0.1 and $1.1 of business exit and other related costs in the Americas segment during the three and nine months ended November 22, 2013. These restructuring actions are substantially complete.

Restructuring costs are summarized in the following table:



	Three Months Ended					Nine Months Ended
Restructuring Costs	November 22, 2013			November 23, 2012		November 22, 2013		November 23, 2012
Cost of sales
Americas	$	(0.1	)	$	3.2	$	—	$	11.4
EMEA	1.0			0.1		1.0		0.4
Other	—			—		—		—
	0.9			3.3		1.0		11.8
Operating expenses
Americas	0.1			1.8		1.2		1.8
EMEA	0.5			0.4		7.0		0.4
Other	0.2			0.5		0.2		0.8
	0.8			2.7		8.4		3.0
Total	$	1.7		$	6.0	$	9.4	$	14.8

Below is a summary of the net additions, payments and adjustments to the restructuring reserve balance for the nine months ended November 22, 2013:



Restructuring Reserve	Employee Termination Costs			Business Exits and Related Costs			Total
Reserve balance as of February 22, 2013	$	7.8		$	3.3		$	11.1
Additions	6.7			2.7			9.4
Payments	(5.4		)	(3.9		)	(9.3		)
Adjustments	(0.6		)	0.3			(0.3		)
Reserve balance as of November 22, 2013	$	8.5		$	2.4		$	10.9

The employee termination costs reserve balance as of November 22, 2013 primarily relates to restructuring actions in EMEA.

- 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+ Details