Restructuring and Other Expense (Tables)

12 Months Ended

May 31, 2012

Schedule of Progression of Liabilities Created as Part of Transformation Plan, Combined with Reconciliation to Restructuring and Other Expense

A progression of the liabilities created as part of the Transformation Plan, combined with a reconciliation to the restructuring and other expense line in our consolidated statement of earnings for fiscal 2011, is summarized as follows:


(in thousands)	Beginning Balance		Expense			Payments			Adjustments			Ending Balance
Early retirement and severance	$	893	$	8,687		$	(2,371	)	$	11		$	7,220
Facility exit and other costs		560		6,052			(6,030	)		(173	)		409

	$	1,453		14,739		$	(8,401	)	$	(162	)	$	7,629

Non-cash charges				203
Net gain on dispositions				(1,073	)
Joint venture transactions				(11,216	)

Restructuring and other expense			$	2,653


(in thousands)	Beginning Balance		Expense			Payments			Adjustments		Ending Balance
Early retirement and severance	$	7,220	$	245		$	(3,824	)	$	1,251	$	4,892
Facility exit and other costs		409		9,116			(9,630	)		796		691
Professional fees		-		4,758			(4,758	)		-		-

	$	7,629		14,119		$	(18,212	)	$	2,047	$	5,583

Net gain on dispositions				(8,285	)
Joint venture transactions				150

Restructuring and other expense			$	5,984

- Definition

Tabular disclosure of restructuring and related costs by type of restructuring including the description of the restructuring costs, such as the expected cost; the costs incurred during the period; the cumulative costs incurred as of the balance sheet date; the income statement caption within which the restructuring charges recognized for the period are included; and changes to an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost.

+ References+ Details