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Restructuring

9 Months Ended

Nov. 30, 2012

(15)

Restructuring. During the fourth quarter of fiscal 2012, MSC executed a restructuring plan at our German subsidiary, recognizing approximately $0.3 million in employee termination benefit and related expenses. During the second quarter of fiscal 2012, the Company recognized severance expense of $0.3 million for employee termination benefits. All of these benefits were fully paid as of the end of the second quarter of fiscal 2013.

The year-to-date activity in the restructuring reserve is presented in the chart below:


(in thousands)
Restructuring Reserve as of February 29, 2012	$	235
Restructuring Expenses Recorded During Fiscal 2013		—
Cash Payments and Other Adjustments		(235	)

Restructuring Reserve as of November 30, 2012	$	—

- 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