Other Expense (Income), Net

9 Months Ended

Oct. 03, 2015

Other Income And Expenses [Abstract]

Other Income And Other Expense Disclosure [Text Block]

10. Other Expense (Income), Net

The components of other expense (income) are as follows:

	Quarter ended		Three quarters ended
	October 3, 2015	October 4, 2014	October 3, 2015	October 4, 2014
	$	$	$	$
Severance costs⁽¹⁾	2,359	243	3,413	429
Business development costs⁽²⁾	1,135	-	1,658	-
Plant closure costs⁽³⁾	107	-	392	-
Fair value of contingent consideration⁽⁴⁾	156	-	238	(1,373)
Loss (gain) on sale of assets⁽⁵⁾	126	(1,018)	19	(1,018)
Impairment of long-lived assets⁽⁶⁾	-	505	-	505
Other	150	281	445	464
	4,033	11	6,165	(993)

(1) Severance costs

For the quarter ended October 3, 2015, employee severance costs included contractual severance benefits of $1,227 and previously unrecognized stock-based compensation expense of $854 recognized in connection with the departure of Steven Bromley as the Company’s Chief Executive Officer (“CEO”) effective October 1, 2015. For the three quarters ended October 3, 2015, employee severance costs also included those costs related to the departure of the former President and CEO of Opta Minerals effective May 26, 2015.

For the quarter and three quarters ended October 4, 2014, employee severance costs included costs incurred by the Company in connection with the closure and sale of certain of its sunflower facilities.

(2) Business development costs

Business development costs represent external professional and consulting fees, and other costs incurred in connection with the review of strategic opportunities to acquire or divest of businesses or assets. For the quarter and three quarters ended October 3, 2015, these costs were primarily incurred in connection with the agreement to acquire Sunrise (see note 16), as well as the acquisitions of the Citrusource and Niagara Natural (see note 2).

(3) Plant closure costs

For the quarter and three quarters ended October 3, 2015, Opta Minerals incurred direct costs in connection with the closure or relocation of certain of its abrasives plants.

(4) Fair value of contingent consideration

For the three quarters ended October 4, 2014, the Company recorded a gain of $1,373 in connection with the settlement of the remaining earn-out related to the acquisition of Edner of Nevada, Inc. (“Edner”) on December 14, 2010. In addition, the Company made a payment of $800 to the former owners of Edner in connection with this settlement.

(5) Gain on sale of assets

For the three quarters ended October 4, 2014, the Company recognized a gain of $1,018 on the sale of certain of its sunflower facilities for cash consideration of $5,688.