Note 3 - Restructuring Actions

6 Months Ended

Jun. 01, 2019

Notes to Financial Statements

Restructuring and Related Activities Disclosure [Text Block]

Note

3:

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				Six Months Ended
	June 1, 2019		June 2, 2018		June 1, 2019		June 2, 2018
Cost of sales	$	618	$	956	$	994	$	1,188
Selling, general and administrative		666		368		1,743		1,965
	$	1,284	$	1,324	$	2,737	$	3,153

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

	Three Months Ended				Six Months Ended
	June 1, 2019		June 2, 2018		June 1, 2019		June 2, 2018
Americas Adhesives	$	63	$	53	$	339	$	856
EIMEA		265		567		845		525
Asia Pacific		4		-		47		3
Construction Adhesives		779		545		1,098		1,354
Engineering Adhesives		173		159		408		415
	$	1,284	$	1,324	$	2,737	$	3,153

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		1,337			874			526			2,737
Cash payments		(1,373	)		(792	)		(526	)		(2,691	)
Foreign currency translation		(47	)		-			-			(47	)
Balance at June 1, 2019	$	4,173		$	82		$	-		$	4,255

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