Restructuring (Tables)

3 Months Ended

Aug. 31, 2023

Restructuring and Related Activities [Abstract]

Summary of Charges Recorded in Connection with Restructuring by Reportable Segment

Following is a summary of the charges recorded in connection with MAP 2025 by reportable segment as well as the total expected costs related to projects identified to date:

	Three Months Ended		Cumulative Costs			Total Expected
(In thousands)	August 31, 2023		to Date			Costs
Construction Products Group ("CPG") Segment:
Severance and benefit costs	$	415	$	6,507		$	16,564
Facility closure and other related costs		-		-			271
Total Charges	$	415	$	6,507		$	16,835
Performance Coatings Group ("PCG") Segment:
Severance and benefit costs	$	831	$	1,979		$	2,296
Facility closure and other related costs		30		30			1,030
Other restructuring costs (a)		4,555		7,092			7,092
Total Charges	$	5,416	$	9,101		$	10,418
Consumer Segment:
Severance and benefit costs	$	-	$	507		$	507
Facility closure and other related costs		14		635			635
Total Charges	$	14	$	1,142		$	1,142
Specialty Products Group ("SPG") Segment:
Severance and benefit costs	$	653	$	1,458		$	1,956
Facility closure and other related costs		-		-			4,486
Total Charges	$	653	$	1,458		$	6,442
Corporate/Other Segment:
Severance and benefit (credits)	$	-	$	(50	)	$	(50	)
Total Charges	$	-	$	(50	)	$	(50	)
Consolidated:
Severance and benefit costs	$	1,899	$	10,401		$	21,273
Facility closure and other related costs		44		665			6,422
Other restructuring costs		4,555		7,092			7,092
Total Charges	$	6,498	$	18,158		$	34,787

(a)Of the $4.6 million of other restructuring costs, $3.3 million is associated with the impairment of an indefinite-lived tradename described above.

Summary of Activity in Restructuring Reserves

A summary of the activity in the restructuring reserves related to MAP 2025 is as follows:

(in thousands)	Severance and Benefits Costs			Facility Closure and Other Related Costs			Other Asset Write-Offs			Total
Balance at June 1, 2023	$	2,717		$	-		$	-		$	2,717
Additions charged to expense		1,899			44			4,555			6,498
Cash payments charged against reserve		(2,061	)		(44	)		-			(2,105	)
Non-cash charges and other adjustments		(45	)		-			(4,555	)		(4,600	)
Balance at August 31, 2023	$	2,510		$	-		$	-		$	2,510