Restructuring Charges

12 Months Ended

Apr. 30, 2021

Restructuring and Related Activities [Abstract]

During June 2020, the Company's Board approved the closure and eventual disposal of its manufacturing plant located in Humboldt, Tennessee. Operations ceased at the Humboldt plant in July 2020. During the third quarter of fiscal 2021, the Company sold the Humboldt plant and recognized a gain of $2.3 million on the sale. During fiscal 2021, the Company recognized pre-tax restructuring charges, net of $4.4 million related to the closure of the plant. Included in the $4.4 million of restructuring charges for fiscal 2021 were $0.9 million of severance and separation costs and $3.5 million for equipment, inventory and facilities-related expenses.

In the fourth quarter of fiscal 2020 and the first quarter of fiscal 2021, the Company implemented nationwide reductions in force, which were substantially completed in the fourth quarter of fiscal 2020 and first quarter of fiscal 2021. During fiscal 2021 and 2020, the Company recognized pre-tax restructuring charges, net of $1.4 million and $0.2 million, respectively, related to these reductions in force, which were primarily severance and separation costs.

In the first quarter of fiscal 2019, the Company implemented a nationwide reduction in force. Severance and outplacement charges relating to the reduction in force totaled approximately $1.8 million and the reduction in force was substantially completed during fiscal 2019.

During fiscal years 2021, 2020, and 2019, the Company recognized total pre-tax restructuring charges of $5.8 million, $18,000, and $2.0 million, respectively.

A reserve for restructuring charges is included in accrued compensation and related expenses in the consolidated balance sheets as of April 30, 2021 and 2020 which relates to employee termination costs accrued but not yet paid as follows:


	APRIL 30
(in thousands)	2021		2020
Restructuring reserve balance at May 1	$	189	$	387
Expense	1,739		(18)
Payments and adjustments	(1,789)		(180)
Restructuring reserve balance at April 30	$	139	$	189