Restructuring and Cost Management Plans

9 Months Ended

Jan. 02, 2016

Restructuring and Related Activities [Abstract]

In March 2015, as a part of the plan to streamline manufacturing and development activities, the Company initiated a restructuring plan that included the closure of the assembly plant and development center located in Chelmsford, Massachusetts, which was part of our Component Processing segment. The original estimated completion date of the plan was the end of fiscal 2016 at a total estimated pre-tax cost of $5.5 million. See the Company's Form 10-K for the year ended March 28, 2015 for additional information related to restructuring and cost management plans.

Net restructuring costs related to the above mentioned restructuring plan were $2.6 million in the first three quarters of 2016 and $5.6 million from the inception of the plan. Included in these costs were write-offs of leasehold improvements associated with the abandoned manufacturing facility, employee severance and related payments, and other wind-down costs. As of January 2, 2016, most of the restructuring activities have been completed, and we expect to pay the remaining costs and accrued expenses primarily related to severance and employee benefits by the end of 2016.

At January 2, 2016 and March 28, 2015, the amount of unpaid restructuring costs included in accrued liabilities was $1.0 million and $2.0 million, respectively.

The following table presents the amounts related to restructuring costs payable (in thousands):



Restructuring & cost management amounts payable as of March 28, 2015	$	1,997
Employee severance and related benefits:
Cash payments	(3,612		)
Costs incurred and other adjustments	2,597
Restructuring & cost management amounts payable as of January 2, 2016	$	982