Note 3 - Restructuring

9 Months Ended

Sep. 30, 2015

Notes to Financial Statements

Restructuring and Related Activities Disclosure [Text Block]

NOTE

3

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RESTRUCTURING

During 2015, we incurred restructuring charges related to the relocation of our Ocala, Florida manufacturing operations to our Charlotte, Michigan and Brandon, South Dakota facilities, along with efforts undertaken to upgrade production processes at our Brandon, South Dakota and Ephrata, Pennsylvania locations.

9

SPARTAN MOTORS, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Amounts in thousands, except per share data)

Restructuring charges included in our Consolidated Statements of Operations through September 30, 2015, which were all related to our Emergency Response Vehicles segment, are as follows:

Cost of products sold
Inventory impairment	$	290
Production relocation		174
Total cost of products sold		464

General and Administrative
Manufacturing process reengineering		1,965
Total restructuring	$	2,429

The following table provides a summary of the compensation related charges incurred through September 30, 2015 as part of our restructuring initiatives, along with the related outstanding balances to be paid in relation to those expenses.

	Severance
Balance January 1, 2015	$	165
Accrual for severance		-
Payments and adjustments made in period		158
Balance March 31, 2015	$	7
Accrual for severance		-
Payments and adjustments made in period		7
Balance June 30, 2015	$	-