Severance, Asset Impairment And Other Associated Costs

9 Months Ended

Sep. 24, 2011

Severance, Asset Impairment And Other Associated Costs [Abstract]

Severance, Asset Impairment and Other Associated Costs

8. Severance, Asset Impairment and Other Associated Costs

On September 21, 2011, we announced our plan to exit the international portion of our ScanTech business which is headquartered outside Stockholm, Sweden and markets and distributes a line of Volvo and Saab replacement parts throughout the world. As part of the exit, ScanTech's North American business, which is currently serviced from Sweden, will be transferred to our Colmar, PA headquarters and distribution center while ScanTech's international business will be offered for sale. The exit process is expected to be completed by the end of the third quarter of fiscal 2012. During the thirteen weeks ended September 24, 2011, we recorded charges to write-down the value of inventory by approximately $2.8 million and tooling by approximately $0.1 million, which have been included in cost of goods sold. Additionally, we recorded $0.6 million in charges for asset-write downs and employee-related costs, which have been included in selling, general and administrative expenses. No tax benefits are expected to be realized due to the international nature of these charges.