Restructuring Charges and Other Exit-Related Costs (Tables)
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12 Months Ended |
Aug. 31, 2015 |
Restructuring Charges, Asset Impairment and Accelerated Depreciation, Including Discontinued Operations [Abstract] |
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Restructuring and Related Costs |
Restructuring charges and other exit-related costs were comprised of the following (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Year Ended August 31, | | 2015 | | 2014 | | 2013 | | Q1’14 Plan | | Q1’15 Plan | | Q2’15 Plan | | Total Charges | | Q4’12 Plan | | Q1’14 Plan | | Total Charges | | Q4’12 Plan | | Total Charges | Restructuring charges: | | | | | | | | | | | | | | | | | | Severance costs | $ | (37 | ) | | $ | 428 |
| | $ | 5,330 |
| | $ | 5,721 |
| | $ | (44 | ) | | $ | 4,651 |
| | $ | 4,607 |
| | $ | 2,443 |
| | $ | 2,443 |
| Contract termination costs | 377 |
| | — |
| | 1,245 |
| | 1,622 |
| | 675 |
| | 709 |
| | 1,384 |
| | 3,229 |
| | 3,229 |
| Other restructuring costs | — |
| | 1,223 |
| | 2,048 |
| | 3,271 |
| | — |
| | 410 |
| | 410 |
| | 2,234 |
| | 2,234 |
| Total restructuring charges | 340 |
| | 1,651 |
| | 8,623 |
| | 10,614 |
| | 631 |
| | 5,770 |
| | 6,401 |
| | 7,906 |
| | 7,906 |
| Other exit-related costs: | | | | | | | | | | | | | | | | | | Asset impairments and accelerated depreciation | — |
| | — |
| | 6,502 |
| | 6,502 |
| | — |
| | 566 |
| | 566 |
| | — |
| | — |
| Total other exit-related costs | — |
| | — |
| | 6,502 |
| | 6,502 |
| | — |
| | 566 |
| | 566 |
| | — |
| | — |
| Total restructuring charges and other exit-related costs | $ | 340 |
| | $ | 1,651 |
| | $ | 15,125 |
| | $ | 17,116 |
| | $ | 631 |
| | $ | 6,336 |
| | $ | 6,967 |
| | $ | 7,906 |
| | $ | 7,906 |
| | | | | | | | | | | | | | | | | | | Restructuring charges and other exit-related costs included in continuing operations | | $ | 13,008 |
| | | | | | $ | 6,830 |
| | | | $ | 7,906 |
| Restructuring charges and other exit-related costs included in discontinued operations | | $ | 4,108 |
| | | | | | $ | 137 |
| | | | $ | — |
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| | | | | | | | | | | | | | | | | | | | | | Total Charges |
| Q4’12 Plan |
| Q1’14 Plan | | Q1’15 Plan | | Q2’15 Plan | | Total | Total restructuring charges to date | $ | 13,549 |
| | $ | 6,110 |
| | $ | 1,651 |
| | $ | 8,623 |
| | $ | 29,933 |
| Total expected restructuring charges | $ | 13,549 |
| | $ | 6,110 |
| | $ | 1,651 |
| | $ | 10,500 |
| | $ | 31,810 |
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Schedule of Restructuring Reserve by Type of Cost |
The following illustrates the reconciliation of the restructuring liability by major type of costs for the years ended August 31, 2015 and 2014 (in thousands): | | | | | | | | | | | | | | | | | | Q2’15 Plan | | Balance 8/31/2014 | | Charges | | Payments and Other | | Balance 8/31/2015 | Severance costs | $ | — |
| | $ | 5,330 |
| | $ | (4,104 | ) | | $ | 1,226 |
| Contract termination costs | — |
| | 1,245 |
| | 75 |
| | 1,320 |
| Other restructuring costs | — |
| | 2,048 |
| | (2,048 | ) | | — |
| Total | $ | — |
| | $ | 8,623 |
| | $ | (6,077 | ) | | $ | 2,546 |
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| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | All Other Plans |
| Balance 8/31/2013 |
| Charges |
| Payments and Other |
| Balance 8/31/2014 |
| Charges |
| Payments and Other |
| Balance 8/31/2015 | Severance costs | $ | 278 |
| | $ | 4,607 |
| | $ | (4,216 | ) | | $ | 669 |
| | $ | 391 |
| | $ | (1,060 | ) | | $ | — |
| Contract termination costs | 3,027 |
| | 1,384 |
| | (2,922 | ) | | 1,489 |
| | 377 |
| | (1,504 | ) | | 362 |
| Other restructuring costs | — |
| | 410 |
| | (410 | ) | | — |
| | 1,223 |
| | (1,223 | ) | | — |
| Total | $ | 3,305 |
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| $ | 6,401 |
|
| $ | (7,548 | ) |
| $ | 2,158 |
|
| $ | 1,991 |
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| $ | (3,787 | ) |
| $ | 362 |
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Due to the immateriality of the activity and liability balances for each of the Q4'12 Plan, Q1'14 Plan and Q1'15 Plan, the reconciliation of the restructuring liability for these plans is provided in aggregate.
| | | | | | | | | | Total Charges to Date | | Total Expected Charges | Severance costs | $ | 15,512 |
| | $ | 17,000 |
| Contract termination costs | 6,675 |
| | 6,810 |
| Other restructuring costs | 7,746 |
| | 8,000 |
| Total | $ | 29,933 |
| | $ | 31,810 |
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Schedule of Restructuring and Related Activities By Segment |
Restructuring charges and other exit-related costs by reportable segment were as follows (in thousands): | | | | | | | | | | | | | | | | | | | | | | Fiscal 2015 Charges | | Fiscal 2014 Charges | | Fiscal 2013 Charges | | Total Charges to Date | | Total Expected Charges | Restructuring charges: | | | | | | | | | | Auto and Metals Recycling | $ | 6,944 |
| | $ | 5,191 |
| | $ | 2,987 |
| | $ | 17,016 |
| | $ | 18,300 |
| Unallocated (Corporate) | 2,228 |
| | 1,073 |
| | 4,919 |
| | 11,339 |
| | 11,860 |
| Discontinued operations | 1,442 |
| | 137 |
| | — |
| | 1,578 |
| | 1,650 |
| Total restructuring charges | 10,614 |
| | 6,401 |
| | 7,906 |
| | 29,933 |
| | 31,810 |
| Other exit-related costs: | | | | | | | | | | Auto and Metals Recycling | 3,836 |
| | 566 |
| | — |
| | 4,402 |
| | | Discontinued operations | 2,666 |
| | — |
| | — |
| | 2,666 |
| | | Total exit-related costs | 6,502 |
| | 566 |
| | — |
| | 7,068 |
| | | Total restructuring charges and other exit-related costs | $ | 17,116 |
| | $ | 6,967 |
| | $ | 7,906 |
| | $ | 37,001 |
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