XML 72 R25.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Restructuring Charges
12 Months Ended
Oct. 31, 2019
Restructuring and Related Activities [Abstract]  
Restructuring Charges
Restructuring Charges

During the fourth quarter of fiscal 2017, management initiated restructuring activities to reshape Shiloh's global footprint to be flexible to market conditions. Activities included actions such as consolidating manufacturing facilities, making geographical shifts to place production closer to customer facilities, centralizing departments, optimizing our product portfolio and capturing synergies. Management believes these strategic moves will result in a stronger and more agile organization.

During the years ended 2019 and 2018, respectively, we incurred $17,072 and $6,613 related to employee, professional, legal and other restructuring related costs. We have incurred restructuring expenses of $28,462 since initiating the restructuring activities.

Global restructuring initiatives have continued to evolve and expand across the organization. We expect to incur additional restructuring costs over the next twelve months to execute planned restructuring initiatives. Costs of planned restructuring actions will primarily include employee costs and professional fees to execute initiatives. Future restructuring actions will depend upon market conditions, customer actions and other factors.

The following table presents information about restructuring costs recorded during the fiscal years ended October 31, 2019, 2018, and 2017:
 
 
October 31, 2019
 
October 31, 2018
 
October 31, 2017
Employee costs
 
$
4,573

 
$
3,030

 
$
392

Impairment of fixed assets
 

 

 
4,085

Professional and legal costs
 
8,899

 
1,731

 
270

Other
 
3,600

 
1,852

 
30

 
 
$
17,072

 
$
6,613

 
$
4,777


The following tables are rollforwards of the beginning and ending liability balances related to restructuring activities which are included in the consolidated balance sheets in other accrued expenses for the fiscal years ending October 31, 2019 and October 31, 2018:
 
Balance as of October 31, 2018
 
Restructuring Expense
 
Payments
 
Balance as of October 31, 2019
Employee costs
$
367

 
$
4,573

 
$
2,301

 
$
2,639

Professional and legal costs
248

 
8,899

 
7,475

 
1,672

Other

 
3,600

 
2,433

 
1,167

 
$
615

 
$
17,072

 
$
12,209

 
$
5,478



 
Balance as of October 31, 2017
 
Restructuring Expense
 
Payments
 
Balance as of October 31, 2018
Employee costs
$
65

 
$
3,030

 
$
2,728

 
$
367

Professional and legal costs
270

 
1,731

 
1,753

 
248

Other

 
1,852

 
1,852

 

 
$
335

 
$
6,613

 
$
6,333

 
$
615