Plans of Restructuring

9 Months Ended

Sep. 28, 2019

Restructuring and Related Activities [Abstract]

Plans of Restructuring

Note 12 – Plans of Restructuring

On July 9, 2018, we committed to an initiative to rationalize our operations and provide expense efficiencies. These actions have allowed us to execute on our plan to reduce our cost structure and fund new initiatives that are expected to drive future growth under our 2018 to 2020 strategic plan. This initiative has resulted in the elimination of approximately 4% of our workforce and the closing of certain facilities.

During the three and nine months ended September 28, 2019, we recorded restructuring (credits) costs of $(0.8) million and $15.8 million, respectively. The restructuring credits in the three months ended September 28, 2019 were attributable to a reduction in previously recorded estimated restructuring costs as of June 29, 2019. The total 2018 costs associated with the actions to complete this restructuring were $54.4 million from continuing operations, consisting primarily of severance costs. As of June 29, 2019, the restructuring activities under this initiative are complete and we do not expect to incur any additional restructuring charges for the remainder of 2019. The costs associated with this restructuring are included in a separate line item, “Restructuring costs” within our consolidated statements of income.

The following table shows the net amounts expensed and paid for restructuring costs that were incurred during the nine months ended September 28, 2019 and during our 2018 fiscal year and the remaining accrued balance of restructuring costs as of September 28, 2019, which is included in Accrued expenses: Other within our consolidated balance sheet:

			Facility
	Severance		Closing
	Costs		Costs		Other		Total
Balance, December 30, 2017	$	3,087	$	1,315	$	24	$	4,426
Provision		50,197		3,153		1,017		54,367
Payments and other adjustments		(23,320)		(2,865)		(883)		(27,068)
Balance, December 29, 2018	$	29,964	$	1,603	$	158	$	31,725
Provision		14,733		945		86		15,764
Payments		(26,313)		(1,575)		(110)		(27,998)
Balance, September 28, 2019	$	18,384	$	973	$	134	$	19,491

The following table shows, by reportable segment, the net amounts expensed and paid for restructuring costs that were incurred during the nine months ended September 28, 2019 and during our 2018 fiscal year and the remaining accrued balance of restructuring costs as of September 28, 2019:

			Technology and
	Health Care		Value-Added
	Distribution		Services		Total
Balance, December 30, 2017	$	4,426	$	-	$	4,426
Provision		50,824		3,543		54,367
Payments and other adjustments		(24,959)		(2,109)		(27,068)
Balance, December 29, 2018	$	30,291	$	1,434	$	31,725
Provision		14,966		798		15,764
Payments		(26,349)		(1,649)		(27,998)
Balance, September 28, 2019	$	18,908	$	583	$	19,491