XML 29 R18.htm IDEA: XBRL DOCUMENT v3.7.0.1
Acquisition Integration Initiatives
3 Months Ended
Apr. 01, 2017
Subsequent Events [Abstract]  
Acquisition Integration Initiatives
15)
Restructuring

Residential Kitchen Equipment Group:

During fiscal years 2015 and 2016, the company undertook acquisition integration initiatives related to the AGA Group within the Residential Kitchen Equipment Group. These initiatives included organizational restructuring and headcount reductions, consolidation and disposition of certain facilities and business operations. The company recorded additional expense of $1.7 million in the three months period ended April 1, 2017. This expense is reflected in restructuring expenses in the consolidated statements of comprehensive income. The cumulative expenses incurred to date for these initiatives is approximately $29.4 million. The company estimated that these restructuring initiatives will result in future cost savings of approximately $24.1 million annually, beginning in fiscal year 2016, primarily related to compensation and facility costs. The company anticipates that all severance obligations for the Residential Kitchen Equipment Group will be satisfied by the end of fiscal of 2017. The lease obligations extend through November 2018.
 
 
Severance/Benefits
 
Facilities/Operations
 
Other
 
Total
Balance as of December 31, 2016
 
$
5,145

 
$
2,032

 
$
69

 
$
7,246

Expenses
 
183

 
1,445

 
97

 
1,725

Exchange
 
70

 
31

 
2

 
103

Payments
 
(1,050
)
 
(393
)
 
(14
)
 
(1,457
)
Balance as of April 1, 2017
 
$
4,348

 
$
3,115

 
$
154

 
$
7,617