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Restructuring Charges
6 Months Ended
Apr. 01, 2016
Restructuring And Related Activities [Abstract]  
Restructuring Charges

Restructuring Charges

During the second quarter of fiscal 2015, the Company began implementing a series of initiatives intended to improve operational efficiency, reduce costs, and better position itself to drive growth of the business in the future (the "2015 Restructuring"). The 2015 Restructuring was not completed in fiscal 2015, and actions related to the 2015 Restructuring continued into fiscal 2016. Actions related to the 2015 Restructuring completed during 2015 and the first six months of fiscal 2016 include involuntary terminations, the abandonment of certain leased offices, combining operational organizations, and the co-location of employees into other existing offices. We are not exiting any service types or client end-markets.

 

The costs of the 2015 Restructuring are included in selling, general, and administrative expense in the Consolidated Statements of Earnings. The following table summarizes the impact of the 2015 Restructuring on the Company's reportable segments for the three and six month periods ended April 1, 2016 (in thousands):

 

 

Three Months Ended

 

 

Six Months Ended

 

 

April 1, 2016

 

 

April 1, 2016

 

Petroleum & Chemicals

$

29,039

 

 

$

53,015

 

Buildings & Infrastructure

 

601

 

 

 

15,567

 

Aerospace & Technology

 

239

 

 

 

2,435

 

Industrial

 

2,316

 

 

 

19,893

 

Corporate

 

3,173

 

 

 

12,841

 

Total

$

35,368

 

 

$

103,751

 

 

 

The Company’s accrual for the 2015 Restructuring as of October 2,  2015 was $102.2 million.  There were $103.8 million of charges and $69.8 million of payments during the six months ended April 1, 2016.  The accrual balance was $136.1 million as of April 1, 2016.