Note 15 - Litigation Gain, Asset Impairment, and Other Charges

12 Months Ended

Nov. 26, 2016

Notes to Financial Statements

Restructuring, Impairment, and Other Activities Disclosure [Text Block]

15.

Litigation Gain

,

A

sset

I

mpairment, and

O

ther

C

harges

Income from Antitrust Litigation Settlement

Cost of furniture and accessories sold for the year ended

November

26,

2016

includes the benefit of

$1,428

of income we received from the settlement of class action litigation. This benefit is included in our wholesale segment. We were a member of the certified class of consumers that were plaintiffs in the Polyurethane Foam Antitrust Litigation against various producers of flexible polyurethane foam. The litigation alleged a price - fixing conspiracy in the flexible polyurethane foam industry that caused indirect purchasers to pay higher prices for products that contain flexible polyurethane foam. In

2015

a settlement was reached with several of the producers, though other producers named in the suit filed appeals blocking distribution of the settlement. In

June

of

2016

the final producer appeal was dismissed and we received

$1,428

in cash representing our share of the settlement, which is included in cash provided by operating activities in our statement of cash flows for the year ended

November

26,

2016.

Asset Impairment Charges and Lease Exit Costs

During fiscal

2015

income from operations included

$106

of non - cash asset impairment charges and a

$419

charge for the accrual of lease exit costs, both incurred in connection with the closing of our Company - owned retail store location in Memphis, Tennessee.

There were

no

asset impairment charges or lease exit costs incurred against income from operations during fiscal

2016

or

2014.

See Note

2

regarding non - operating impairment charges incurred in connection with our investments in retail real estate.

Management Restructuring Costs

During the year ended

November

28,

2015,

we recognized

$449

of expense related to severance payable to a former executive, who left the Company in

April,

2015.

As of

November

28,

2015,

all required payments of severance had been disbursed. These management restructuring costs were incurred within our wholesale segment. There were

no

restructuring charges incurred in fiscal

2016

or

2014.

The following table summarizes the activity related to our accrued lease exit costs:

	2016			2015
Balance, beginning of the year	$	566		$	433
Provisions associated with Company-owned retail stores		-			419
Provisions made to adjust previous estimates		156			111
Payments on unexpired leases, net of sublease rent received		(517	)		(410	)
Accretion of interest on obligations		9			13
Balance, end of the year	$	214		$	566
Current portion included in other accrued liabilities	$	105		$	351
Long-term portion included in other long-term liabilities		109			215
Total accrued lease exit costs at November 26, 2016	$	214		$	566