Note 3 - Restructuring Actions

9 Months Ended

Aug. 31, 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				Nine Months Ended
	August 31, 2019		September 1, 2018		August 31, 2019		September 1, 2018
Cost of sales	$	287	$	1,939	$	1,281	$	3,127
Selling, general and administrative		2,615		864		4,358		2,829
	$	2,902	$	2,803	$	5,639	$	5,956

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

	Three Months Ended					Nine Months Ended
	August 31, 2019		September 1, 2018			August 31, 2019		September 1, 2018
Americas Adhesives	$	636	$	602		$	975	$	1,458
EIMEA		1,496		478			2,341		1,003
Asia Pacific		143		3			190		6
Construction Adhesives		370		1,748			1,468		3,102
Engineering Adhesives		257		(28	)		665		387
	$	2,902	$	2,803		$	5,639	$	5,956

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		2,823			961			1,855			5,639
Cash payments		(2,156	)		(961	)		(1,122	)		(4,239	)
Foreign currency translation		(94	)		-			-			(94	)
Balance at August 31, 2019	$	4,829		$	-		$	733		$	5,562

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