RESTRUCTURING AND OTHER RELATED CHARGES

12 Months Ended

Sep. 30, 2012

Restructuring and Related Activities Disclosure [Text Block]

NOTE 8 – RESTRUCTURING AND OTHER RELATED CHARGES

In June 2009, CBP undertook to consolidate its manufacturing facilities. These actions were completed in 2011. CBP incurred total pre-tax exit and restructuring costs approximating $9,031, substantially all of which were cash charges; charges include $1,160 for one-time termination benefits and other personnel costs, $210 for excess facilities and related costs, and $7,661 for other exit costs, primarily in connection with production realignment, and had $10,365 of capital expenditures. The restructuring costs were $3,611 in 2011, $4,180 in 2010 and $1,240 in 2009.

In 2012 and 2011, ATT recognized $874 and $886, respectively, in restructuring and other related exit costs primarily related to termination benefits for operating personnel due to the closing of the Bernie, MO facility and other administrative personnel. Over the two years, administrative headcount was reduced by 31 and operating headcount was reduced by 7.

In 2012 and 2011, Telephonics recognized $3,815 and $3,046 of restructuring charges primarily related to two separate voluntary early retirement plan and other restructuring costs, reducing headcount by 185 over the two year period.

A summary of the restructuring and other related charges included in the line item “Restructuring and other related charges” in the Consolidated Statements of Operations recognized for 2010, 2011 and 2012 were as follows:

	Workforce Reduction		Facilities & Exit Costs		Other Related		Total
Amounts incurred in the year ended:
September 30, 2010	$	602	$	2,549	$	1,029	$	4,180
September 30, 2011		3,789		1,809		1,945		7,543
September 30, 2012		4,204		379		106		4,689

The activity in the restructuring accrual recorded in accrued liabilities consisted of the following:

	Workforce Reduction			Facilities & Exit Costs			Other Related			Total
Accrued liability at September 30, 2010	$	1,541		$	—		$	—		$	1,541
Charges		3,789			1,809			1,945			7,543
Payments		(2,673	)		(1,809	)		(1,945	)		(6,427	)
Accrued liability at September 30, 2011	$	2,657		$	—		$	—		$	2,657
Charges		4,204			379			106			4,689
Payments		(4,310	)		(205	)		—			(4,515	)
Accrued liability at September 30, 2012	$	2,551		$	174		$	106		$	2,831