RESTRUCTURING AND ASSET IMPAIRMENTS

9 Months Ended

Jul. 31, 2016

Restructuring and Related Activities [Abstract]

As part of the plans developed in the fourth quarter of fiscal 2015 to improve cost efficiency and optimize our combined manufacturing footprint, given the Company’s recent acquisitions and restructuring efforts, we incurred severance related costs of $0.8 million, including $0.1 million and $0.3 million in the engineered building systems segment and metal components segment, respectively, during the three months ended July 31, 2016. For the nine months ended July 31, 2016, we incurred severance related costs of $3.4 million, including $0.8 million and $1.2 million in the engineered building systems segment and metal components segment, respectively, and the remaining amount at corporate.

The following table summarizes our restructuring plan costs and charges related to the restructuring plans during the three and nine months ended July 31, 2016 (in thousands), which are recorded in restructuring and impairment charges in the Company’s consolidated statements of operations:



	Fiscal Three Months Ended		Fiscal Nine Months Ended
	July 31, 2016		July 31, 2016		Cost Incurred To Date (since inception)		Remaining Anticipated Cost	Total Anticipated Cost
General severance	$	725	$	2,658	$	6,545	*	*
Plant closing severance	53		149		1,724		*	*
Asset impairments	—		—		5,844		*	*
Other restructuring costs	—		630		630		*	*
Total restructuring costs	$	778	$	3,437	$	14,743	*	*


*	We expect to fully execute our plans in phases over the next 6 months to 24 months and estimate that we will incur future additional restructuring charges associated with these plans. We are unable at this time to make a good faith determination of cost estimates, or ranges of cost estimates, associated with future phases of these plans.

The following table summarizes our severance liability and cash payments made pursuant to the restructuring plans from inception through July 31, 2016 (in thousands):



	General Severance			Plant Closing Severance			Total
Balance at November 2, 2014	$	—		$	—		$	—
Costs incurred	3,887			1,575			5,462
Cash payments	(2,941		)	(1,575		)	(4,516		)
Accrued severance⁽¹⁾	739			—			739
Balance at November 1, 2015	$	1,685		$	—		$	1,685
Costs incurred⁽¹⁾	1,997			149			2,146
Cash payments	(3,390		)	(149		)	(3,539		)
Balance at July 31, 2016	$	292		$	—		$	292

(1)

During the second and fourth quarters of fiscal 2015, we entered into transition and separation agreements with certain executive officers. Each terminated executive officer was entitled to severance benefit payments issuable in two installments. The termination benefits were measured initially at the separation dates based on the fair value of the liability as of the termination date and were recognized ratably over the future service period. Costs incurred during the nine months ended July 31, 2016 exclude $0.7 million of amortization expense associated with these termination benefits.