RESTRUCTURING

As part of the plans developed in the fourth quarter of fiscal 2015 primarily to improve engineering, selling, general and administrative (“ESG&A”) and manufacturing cost efficiency and to optimize our combined manufacturing footprint given the Company’s acquisitions, dispositions and restructuring efforts, we incurred restructuring charges of $0.5 million, including $0.3 million, $0.1 million and $0.1 million in the Engineered Building Systems segment, Metal Components segment and Insulated Metal Panels segment, respectively, during the three months ended April 29, 2018. During the three months ended April 30, 2017, we incurred restructuring charges of $0.3 million, including $0.2 million and $0.1 million, in the Engineered Building Systems segment and Metal Components segment, respectively.

For the six months ended April 29, 2018, we incurred restructuring charges of $1.6 million, including $1.5 million and $1.4 million in the Engineered Building Systems segment and Insulated Metals Panel segment, respectively, partially offset by a gain of $1.3 million on a sale of a facility in our Metal Components segment. For the six months ended April 30, 2017, we incurred restructuring charges, primarily consisting of severance related costs of $2.6 million, including approximately $2.1 million and $0.5 million in the Engineered Building Systems segment and Metal Components segment, respectively.

The following table summarizes the costs and charges associated with the restructuring plans during the three and six months ended April 29, 2018, which are recorded in restructuring and impairment charges in the Company’s consolidated statements of operations (in thousands):



	Fiscal Three Months Ended		Fiscal Six Months Ended			Cost Incurred To Date (since inception)
	April 29, 2018		April 29, 2018			Cost Incurred To Date (since inception)
General severance	$	417	$	1,733		$	10,695
Plant closing severance	—		—			3,279
Asset impairments	71		1,171			7,140
Gain on sale of facility	—		(1,424		)	(1,424		)
Other restructuring costs	—		102			1,415
Total restructuring costs	$	488	$	1,582		$	21,105

The following table summarizes our severance liability and cash payments made pursuant to the restructuring plans from inception through April 29, 2018 (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⁾	2,725			165			2,890
Cash payments	(3,928		)	(165		)	(4,093		)
Balance at October 30, 2016	$	482		$	—		$	482
Costs incurred	2,350			1,539			3,889
Cash payments	(2,549		)	(1,539		)	(4,088		)
Balance at October 29, 2017	$	283		$	—		$	283
Costs incurred	1,733			—			1,733
Cash payments	(1,782		)	—			(1,782		)
Balance at April 29, 2018	$	234		$	—		$	234

(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 fiscal 2016 exclude $0.7 million of amortization expense associated with these termination benefits.

We expect to fully execute our plans in phases over the next 12 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.