RESTRUCTURING |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Restructuring and Related Activities [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| RESTRUCTURING | RESTRUCTURING As part of the plans developed in the fourth quarter of fiscal 2015 primarily to improve engineering, selling, general and administrative (“ESG&A”) and manufacturing cost efficiency and to optimize our combined manufacturing footprint given the Company’s acquisitions, dispositions and restructuring efforts, we incurred restructuring charges of $0.5 million, including $0.3 million, $0.1 million and $0.1 million in the Engineered Building Systems segment, Metal Components segment and Insulated Metal Panels segment, respectively, during the three months ended April 29, 2018. During the three months ended April 30, 2017, we incurred restructuring charges of $0.3 million, including $0.2 million and $0.1 million, in the Engineered Building Systems segment and Metal Components segment, respectively. For the six months ended April 29, 2018, we incurred restructuring charges of $1.6 million, including $1.5 million and $1.4 million in the Engineered Building Systems segment and Insulated Metals Panel segment, respectively, partially offset by a gain of $1.3 million on a sale of a facility in our Metal Components segment. For the six months ended April 30, 2017, we incurred restructuring charges, primarily consisting of severance related costs of $2.6 million, including approximately $2.1 million and $0.5 million in the Engineered Building Systems segment and Metal Components segment, respectively. The following table summarizes the costs and charges associated with the restructuring plans during the three and six months ended April 29, 2018, which are recorded in restructuring and impairment charges in the Company’s consolidated statements of operations (in thousands):
The following table summarizes our severance liability and cash payments made pursuant to the restructuring plans from inception through April 29, 2018 (in thousands):
We expect to fully execute our plans in phases over the next 12 months and estimate that we will incur future additional restructuring charges associated with these plans. We are unable at this time to make a good faith determination of cost estimates, or ranges of cost estimates, associated with future phases of these plans. |
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