Restructuring, plant closures and other related costs

12 Months Ended

Mar. 31, 2012

Restructuring, plant closures and other related costs [Abstract]

Restructuring, plant closures and other related costs

Note 13:  Restructuring, plant closures and other related costs

During fiscal 2008, the Company announced the closure of three U.S. manufacturing plants in Camdenton, Missouri; Pemberville, Ohio; and Logansport, Indiana, along with the Tübingen, Germany facility. During the third quarter of fiscal 2010, the Company announced the closure of its Harrodsburg, Kentucky manufacturing facility. These measures were aimed at realigning the Company's manufacturing operations, improving profitability and strengthening global competitiveness. The Tübingen, Germany and the Pemberville, Ohio facility closures were completed during fiscal 2010. The Harrodsburg, Kentucky and Logansport, Indiana facility closures were completed during fiscal 2011. The Camdenton, Missouri closure was completed in the fourth quarter of fiscal 2012.

Since the commencement of these plant closures and previous workforce reductions, the Company has incurred $33,284 of termination charges and $22,548 of other closure costs, in the aggregate. No further additional costs are anticipated to be incurred. Total additional cash expenditures of approximately $595 are anticipated related to these closures.

Changes in the accrued restructuring liability for the years ended March 31, 2012 and 2011 were comprised of the following related to the above-described restructuring activities:

	2012			2011
Termination Benefits:
Balance, April 1	$	1,301		$	4,740
Additions		7			103
Adjustments		(97	)		(378	)
Effect of exchange rate changes		(1	)		13
Payments		(615	)		(3,177	)
Balance, March 31	$	595		$	1,301

The following is the summary of restructuring and other repositioning costs recorded related to the programs announced during the years ended March 31, 2012, 2011 and 2010:

	2012			2011			2010
Restructuring (income) charges:
Employee severance and related benefits	$	(90	)	$	(275	)	$	(679	)
Other repositioning costs:
Pension curtailment charges		-			1,616			-
Postretirement curtailment gain		(304	)		(2,075	)		(1,217	)
Miscellaneous other closure costs		1,285			3,927			7,939
Total other repositioning costs		981			3,468			6,722
Total restructuring and other repositioning costs	$	891		$	3,193		$	6,043

The total restructuring and other repositioning costs of $891 were recorded in the consolidated statement of operations for the year ended March 31, 2012 as a component of cost of sales. The Company accrues severance in accordance with its written plans, procedures and relevant statutory requirements. Restructuring income relates to reversals of severance liabilities due to employee terminations prior to the completion of required retention periods.

The total restructuring and other repositioning costs were recorded in the consolidated statement of operations for the year ended March 31, 2011 as follows: $3,109 was recorded as a component of cost of sales and $84 was recorded as a component of SG&A expenses.

The total restructuring and other repositioning costs were recorded in the consolidated statement of operations for the year ended March 31, 2010 as follows: $5,125 was recorded as a component of cost of sales and $918 was recorded as a component of SG&A expenses.