Note 2 - Restructuring Actions

3 Months Ended

Mar. 02, 2019

Notes to Financial Statements

Restructuring and Related Activities Disclosure [Text Block]

Note

2:

Restructuring Actions

The Company has approved restructuring plans consisting of consolidation plans, organizational changes and other actions related to the integration of the operations of Royal Adhesives with the operations of the Company, and other actions to optimize operations. The following table summarizes the pre-tax distribution of charges under these restructuring plans by income statement classification:

	Three Months Ended
	March 2, 2019		March 3, 2018
Cost of sales	$	376	$	232
Selling, general and administrative		1,077		1,597
	$	1,453	$	1,829

The following table summarizes the pre-tax impact of restructuring charges by segment:

	Three Months Ended
	March 2, 2019		March 3, 2018
Americas Adhesives	$	276	$	803
EIMEA		580		(42	)
Asia Pacific		43		3
Construction Adhesives		319		809
Engineering Adhesives		235		256
	$	1,453	$	1,829

A summary of the restructuring liability is presented below:

	Employee- Related			Asset-Related			Other			Total
Balance at December 2, 2017	$	1,486		$	-		$	20		$	1,506
Expenses incurred		6,223			2,353			305			8,881
Non-cash charges		-			(1,666	)		-			(1,666	)
Cash payments		(3,395	)		(687	)		(325	)		(4,407	)
Foreign currency translation		(58	)		-			-			(58	)
Balance at December 1, 2018	$	4,256		$	-		$	-		$	4,256
Expenses incurred		907			303			243			1,453
Cash payments		(941	)		(303	)		(134	)		(1,378	)
Foreign currency translation		2			-			-			2
Balance at March 2, 2019	$	4,224		$	-		$	109		$	4,333

Restructuring liabilities have been classified as a component of other accrued expenses in the Condensed Consolidated Balance Sheets.