XML 54 R11.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Restructuring Plans
 9 Months Ended
Dec. 31, 2019
Restructuring and Related Activities [Abstract]  
Restructuring Plans RESTRUCTURING PLANS
Business Restructuring
In the first quarter of fiscal 2019, the Company announced a restructuring plan to combine its operations in the United Kingdom and Australia, respectively. This restructuring was undertaken in order to improve profitability and efficiency through the elimination of (i) redundant back office functions; (ii) certain staffing positions and (iii) excess distribution and warehouse capacity, and was substantially completed in the second quarter of fiscal 2019. Commencing in the second quarter of fiscal 2019, the Company recorded an initial restructuring reserve, subsequent adjustments, and has made cash payments as part of this restructuring plan. Also, in connection with this restructuring plan, the Company recorded an impairment of property, plant and equipment at one of the affected facilities in the United Kingdom of $1,398,000 which is included in restructuring expenses. As of December 31, 2019 and 2018, the remaining liability of $7,000 and $279,000, respectively, was classified in accrued other expenses in the accompanying consolidated balance sheets.
Selected information relating to the aforementioned restructuring follows (in thousands):
Employee Termination Costs  Facility Exit Costs  Other Costs  Total  
Restructuring reserve as of March 31, 2019$1  $24  $14  $39  
Charges (reversals) to expense(1) (24) 3  (22) 
Cash paid—  —  (6) (6) 
Restructuring reserve as of June 30, 2019—  —  11  11  
Cash paid—  —  (2) (2) 
Restructuring reserve as of September 30, 2019—  —  9  9  
Cash paid—  —  (2) (2) 
Restructuring reserve as of December 31, 2019$—  $—  $7  $7  
Selected information relating to the aforementioned restructuring follows (in thousands):
Employee Termination Costs  Facility Exit Costs  Other Costs  Total  
Initial reserve$297  $127  $133  $557  
Cash paid—  (13) (41) (54) 
Restructuring reserve as of September 30, 2018297  114  92  503  
Charges to expense132  152  141  425  
Cash paid(400) (74) (175) (649) 
Restructuring reserve as of December 31, 2018$29  $192  $58  $279  
Strategic Business Initiative
In the third quarter of fiscal 2019, the Company announced that it engaged an international consulting firm to perform a comprehensive review of its operating structure with the goal of improving the alignment of processes across the business, as the Company continues to integrate recent acquisitions and evaluate its portfolio. Commencing in the third quarter of fiscal 2019, the Company recorded an initial restructuring reserve, subsequent adjustments, and has made cash payments in connection with this initiative. As of December 31, 2019 and 2018, the remaining liability of $123,000 and $797,000, respectively, was classified in accrued other expenses in the accompanying consolidated balance sheets.
Selected information relating to the aforementioned restructuring follows (in thousands):
Employee Termination Costs  
Restructuring reserve as of March 31, 2019$634  
Cash paid(212) 
Restructuring reserve as of June 30, 2019422  
Cash paid(196) 
Charges (reversals) to expense(3) 
Restructuring reserve as of September 30, 2019223  
Cash paid(100) 
Restructuring reserve as of December 31, 2019$123  
Selected information relating to the aforementioned restructuring follows (in thousands):
Employee Termination Costs  
Initial reserve$797  
Restructuring reserve as of December 31, 2018$797  
Performance Improvement Initiative
In the first quarter of fiscal 2020, the Company announced a restructuring plan with the goal of reducing the Company’s cost base to improve business performance, profitability, and cash flow generation. Commencing in the first quarter of fiscal 2020, the Company recorded an initial restructuring reserve, subsequent adjustments, and has made cash payments in connection with this initiative. As of December 31, 2019, the remaining liability of $553,000 was classified in accrued other expenses in the accompanying consolidated balance sheet.
Selected information relating to the aforementioned restructuring follows (in thousands):
Employee Termination Costs  
Initial reserve$2,076  
Cash paid(490) 
Restructuring reserve as of June 30, 20191,586  
Cash paid(461) 
Charges (reversals) to expense(305) 
Restructuring reserve as of September 30, 2019820  
Cash paid(267) 
Restructuring reserve as of December 31, 2019$553  
Resource Alignment Initiative
In the second quarter of fiscal 2020, the Company announced a restructuring plan with the goal of reducing the Company's cost base by improving the alignment of resources with the current operating structure. Commencing in the second quarter of fiscal 2020, the Company recorded an initial restructuring reserve, subsequent adjustments, and has made cash payments in connection with this initiative. As of December 31, 2019, the remaining liability of $502,000 was classified in accrued other expenses in the accompanying consolidated balance sheet.
Selected information relating to the aforementioned restructuring follows (in thousands):
Employee Termination Costs  
Initial reserve$1,049  
Cash paid(20) 
Restructuring reserve as of September 30, 20191,029  
Cash paid(308) 
Charges (reversals) to expense(219) 
Restructuring reserve as of December 31, 2019$502  
Location Consolidation Initiatives
In the second quarter of fiscal 2020, the Company executed location consolidation initiatives and as a result, in the third quarter of fiscal 2020 the Company decided to abandon two ROU assets by March 31, 2020. As a result, the Company revised the estimated life for the ROU assets to amortize them from the decision date over the remaining expected useful life which resulted in accelerated amortization of $823,000 classified in restructuring expense in the accompanying consolidated statement of operations and comprehensive income (loss) for the three- and nine months ended December 31, 2019.