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Cost Reduction Plan
3 Months Ended
Feb. 28, 2014
Restructuring And Related Activities [Abstract]  
Cost Reduction Plan

Note 10. Cost Reduction Plan

On January 30, 2014, the Company announced a cost reduction plan (the “Restructuring Plan”) which will result in the reduction of the Company’s overall headcount by approximately 260 employees. In connection with the Restructuring Plan, the Company recorded a liability of $10.0 million in the first quarter of fiscal 2014, consisting of costs for severance, employee-related benefits and other associated expenses.

The costs of the Restructuring Plan related to ongoing business volume, $5.0 million as of February 28, 2014, have been capitalized and recorded in other current assets in the unaudited condensed consolidated balance sheet as they are probable of future recovery through the pricing of the Company’s products and services to the U.S. government. Costs of the Restructuring Plan related to the acquisition of the Rocketdyne Business, $5.0 million as of February 28, 2014, have been capitalized and recorded in other noncurrent assets in the unaudited condensed consolidated balance sheet. Such costs are reimbursable costs and will be allocated to the Company’s U.S. government contracts based on the Company’s planned integration savings exceeding its restructuring costs by a factor of at least two to one. The Company reviews on a quarterly basis the probability of recovery of these costs.