Costs Associated with Exit and Restructuring Activities (Tables)

6 Months Ended

Jun. 30, 2020

Restructuring and Related Activities Disclosure [Text Block]

NOTE 8 – Costs Associated with Exit and Restructuring Activities

Restructuring charges are reported as a separate line within operating earnings in the Condensed Consolidated Statement of Earnings. 

Total restructuring charges are as follows:

	Three Months Ended
	June 30, 2020		June 30, 2019
Restructuring charges	$	135	$	911

 

	Six Months Ended
	June 30, 2020		June 30, 2019
Restructuring charges	$	375	$	2,995

 

2016 Plan

In June 2016, we announced plans to restructure operations by phasing out production at our Elkhart, IN facility and transitioning it into a research and development center supporting our global operations ("June 2016 Plan"). Additional organizational changes were also implemented in various other locations. In 2017, we revised this plan to include an additional $1,100 in planned costs related to the relocation of our corporate headquarters in Lisle, IL and our plant in Bolingbrook, IL, both of which have now been consolidated into a single facility. Restructuring charges under this plan, which is substantially complete, were $0 and $911 during the three months ended June 30, 2020 and June 30, 2019, respectively. Restructuring charges under this plan were $(32) and $2,995 during the six months ended June 30, 2020 and June 30, 2019, respectively. The total restructuring liability related to the June 2016 Plan was $48 at June 30, 2020 and $233 at December 31, 2019. Additional costs related to production line movements, equipment charges, and other costs will be expensed as incurred.

The following table displays the planned restructuring charges associated with the June 2016 Plan as well as a summary of the actual costs incurred through June 30, 2020:

			Actual costs
	Planned		incurred through
June 2016 Plan	Costs		June 30, 2020
Workforce reduction	$	3,075	$	3,312
Building and equipment relocation	9,025		10,530
Other charges(1)	1,300		2,156
Total restructuring charges	$	13,400	$	15,998

(1) Other charges includes the effects of currency translation, non-cash asset write-downs and other charges.

2014 Plan

In April 2014, we announced plans to restructure our operations and consolidate our Canadian operations into other existing facilities as part of our overall plan to simplify our business model and rationalize our global footprint (“April 2014 Plan”). These restructuring actions were completed in 2015. Restructuring charges associated with this plan were $(248) for the three and six months ended June 30, 2019. There were no restructuring charges incurred under this plan during the three or six months ended June 30, 2020. The total restructuring liability related to the April 2014 Plan was $672 at June 30, 2020, and $703 at December 31, 2019.

Other Restructuring Activities

From time to time we incur other restructuring activities that are not part of a formal plan. During the three and six months ended June 30, 2020, we incurred restructuring charges of $135 and $407, respectively, primarily relating to workforce reduction actions taken during the quarter. There were no such charges incurred during the three and six months ended June 30, 2019. The total remaining restructuring liability associated with these actions was $183 at June 30, 2020 and $1,057 at December 31, 2019.

The following table displays the restructuring liability activity included in Accrued expenses and other liabilities for all plans for the six months ended June 30, 2020: 

Restructuring liability at January 1, 2020	$	1,993
Restructuring charges	375
Cost paid	(1,039		)
Other activity(1)	(426		)
Restructuring liability at June 30, 2020	$	903

(1) Other activity includes the effects of currency translation, non-cash asset write-downs and other charges that do not flow through restructuring expense.

Restructuring Reserve Activity

The following table displays the restructuring liability activity included in Accrued expenses and other liabilities for all plans for the six months ended June 30, 2020: 

Restructuring liability at January 1, 2020	$	1,993
Restructuring charges	375
Cost paid	(1,039		)
Other activity(1)	(426		)
Restructuring liability at June 30, 2020	$	903

(1) Other activity includes the effects of currency translation, non-cash asset write-downs and other charges that do not flow through restructuring expense.

Other Restructuring [Member]

Restructuring and Related Activities Disclosure [Text Block]

Other Restructuring Activities

From time to time we incur other restructuring activities that are not part of a formal plan. During the three and six months ended June 30, 2020, we incurred restructuring charges of $135 and $407, respectively, primarily relating to workforce reduction actions taken during the quarter. There were no such charges incurred during the three and six months ended June 30, 2019. The total remaining restructuring liability associated with these actions was $183 at June 30, 2020

Restructuring Charges [Member]

Restructuring and Related Activities Disclosure [Text Block]

Consolidated Statement of Earnings. 

Total restructuring charges are as follows:

	Three Months Ended
	June 30, 2020		June 30, 2019
Restructuring charges	$	135	$	911

 

	Six Months Ended
	June 30, 2020		June 30, 2019
Restructuring charges	$	375	$	2,995

 

June 2016 Plan

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

2016 Plan

In June 2016, we announced plans to restructure operations by phasing out production at our Elkhart, IN facility and transitioning it into a research and development center supporting our global operations ("June 2016 Plan"). Additional organizational changes were also implemented in various other locations. In 2017, we revised this plan to include an additional $1,100 in planned costs related to the relocation of our corporate headquarters in Lisle, IL and our plant in Bolingbrook, IL, both of which have now been consolidated into a single facility. Restructuring charges under this plan, which is substantially complete, were $0 and $911 during the three months ended June 30, 2020 and June 30, 2019, respectively. Restructuring charges under this plan were $(32) and $2,995 during the six months ended June 30, 2020 and June 30, 2019, respectively. The total restructuring liability related to the June 2016 Plan was $48 at June 30, 2020 and $233 at December 31, 2019. Additional costs related to production line movements, equipment charges, and other costs will be expensed as incurred.

The following table displays the planned restructuring charges associated with the June 2016 Plan as well as a summary of the actual costs incurred through June 30, 2020:

			Actual costs
	Planned		incurred through
June 2016 Plan	Costs		June 30, 2020
Workforce reduction	$	3,075	$	3,312
Building and equipment relocation	9,025		10,530
Other charges(1)	1,300		2,156
Total restructuring charges	$	13,400	$	15,998

(1) Other charges includes the effects of currency translation, non-cash asset write-downs and other charges.

April 2014 Plan

Restructuring and Related Activities Disclosure [Text Block]

2014 Plan

In April 2014, we announced plans to restructure our operations and consolidate our Canadian operations into other existing facilities as part of our overall plan to simplify our business model and rationalize our global footprint (“April 2014 Plan”). These restructuring actions were completed in 2015. Restructuring charges associated with this plan were $(248) for the three and six months ended June 30, 2019. There were no restructuring charges incurred under this plan during the three or six months ended June 30, 2020. The total restructuring liability related to the April 2014 Plan was $672 at June 30, 2020, and $703 at December 31, 2019