Branch Closures and Related Costs

9 Months Ended

Sep. 30, 2020

Restructuring And Related Activities [Abstract]

Branch Closures and Related Costs

14. BRANCH CLOSURES AND RELATED COSTS

During the second quarter of 2020, the Company announced the planned closure of its Columbus, OH and Selkirk, NY branches to improve operating results and gain operational efficiency through leverage of workforce, logistics and working capital. The Company recorded a $1.5 million pre-tax charge in the second quarter, which consisted of $0.7 million for estimated impairment of inventory and inventory transfer costs, $0.2 million of facility exit costs, $0.1 million for employee retention and extension of benefits, and $0.5 million for other branch closure costs. The facility closures were substantially completed by September 30, 2020 and are expected to be fully completed in the fourth quarter of 2020.

The following table summarizes the restructuring activity during the three months ended September 30, 2020 (in thousands):

	2020 Charge to		Utilized in 2020				Reserve at
	Income		Cash		Non-Cash		September 30, 2020
Retention and benefits continuation costs	$	0.1	$	—	$	—		0.1
Facility exit costs		0.2		0.1		—		0.1
Inventory impairment and transfer costs		0.7		0.5		—		0.2
Other branch closure costs		0.5		0.1		—		0.4
Total pre-tax restructuring charges	$	1.5	$	0.7	$	—	$	0.8