Restructuring and Cost Management Plans

12 Months Ended

Apr. 02, 2016

Restructuring and Related Activities [Abstract]

In March 2015, as a part of the plan to streamline manufacturing and development activities, the Company initiated a restructuring plan that included the closure of the assembly plant and development center located in Chelmsford, Massachusetts, which was part of our Component Processing segment. The original estimated completion date of the plan was the end of fiscal 2016 at a total estimated pre-tax cost of $5.5 million.

Net restructuring costs related to the above mentioned restructuring plan were $2.8 million in 2016 and $3.0 million in 2015. Included in these costs were write-offs of leasehold improvements associated with the abandoned manufacturing facility, employee severance and related payments, inventory write-off charges associated with discontinued products and other wind-down costs. As of April 2, 2016, most of the restructuring activities have been completed, and we expect to pay the accrued expenses primarily related to severance and employee benefits in the first quarter of 2017.

At April 2, 2016 and March 28, 2015, the amount of unpaid restructuring costs included in accrued liabilities on the Consolidated Balance Sheets was $0.8 million and $2.0 million, respectively. Included in the payable balance are amounts for severance and employee benefits, asset retirement obligation and net lease commitments.

The following table presents the amounts related to restructuring and cost management amounts payable (in thousands):



Restructuring & cost management amounts payable as of March 30, 2013	$	485
Cash payments and other adjustments	(204		)
Costs incurred	769
Restructuring & cost management amounts payable as of March 29, 2014	1,050
Cash payments and other adjustments	(985		)
Costs incurred	1,932
Restructuring & cost management amounts payable as of March 28, 2015	1,997
Cash payments and other adjustments	(4,064		)
Costs incurred	2,824
Restructuring & cost management amounts payable as of April 2, 2016	$	757