Note 24 - Other Non-Operating (Income) Expenses

9 Months Ended

Mar. 25, 2012

Other Non Operating Income Expense Net [Text Block]

24. Other Non-Operating (Income) Expenses

The components of other non-operating (income) expenses were as follows:

	For the Three Months Ended					For the Nine Months Ended
	March 25, 2012			March 27, 2011		March 25, 2012			March 27, 2011
Refund of Brazilian non-income related tax	$	(9	)	$	—		(1,488	)	$	—
Unsuccessful bond refinancing		—			78		—			528
Total other non-operating (income) expenses	$	(9	)	$	78		(1,488	)	$	528

For the nine month period ended March 25, 2012, the Company’s Brazilian operation recorded a gain of $1,488 from a refund of non-income related taxes plus interest. In Brazil, indirect taxes applicable to the manufacturing industry are levied at the federal and state government levels. These indirect taxes levied include PIS/COFINS which is a federal tax levied on an entity’s gross revenues.  During the 2000-2004 tax years, this tax was incorrectly levied on the interest income of manufacturing companies and was subsequently challenged in the Brazilian courts.  In the December quarter, the Company was informed that the taxes charged would be refunded with interest.

In the second quarter of fiscal year 2011, the Company recorded $450 for costs associated with an unsuccessful bond refinancing.  In the third quarter of fiscal year 2011, the Company recorded an additional $78 associated with the unsuccessful bond refinancing.