Restructuring Reserve And Plant Closures

3 Months Ended

Mar. 29, 2014

Restructuring and Related Activities [Abstract]

Restructuring Reserve and Plant Closures

As a result of the Corporation's ongoing business simplification and cost reduction strategies, the Corporation has closed, consolidated and realigned certain of its office furniture facilities during the past few years.

The following is a summary of changes in restructuring accruals during the three months ended March 29, 2014.



(In thousands)	Severance			Facility Exit Costs & Other			Total
Balance as of December 28, 2013	$	49		$	6		$	55
Restructuring charges	—			(28		)	(28		)
Cash payments	(14		)	28			14
Balance as of March 29, 2014	$	35		$	6		$	41

During the quarter ended March 29, 2014, the Corporation completed the sale of a vacated office furniture manufacturing facility from a prior plant closure. The net sales price was $12.0 million resulting in a gain of $5.7 million, net of $2.7 million income tax expense for the quarter ended March 29, 2014.

- Definition

The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled.

+ References+ Details