| Schedule of Charges Incurred |
Charges incurred in the current year include:
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|
|
|
|
|
|
|
|
|
Year Ended
December 28, 2019 |
|
Year Ended
December 29, 2018 |
Facility consolidation (1)
|
|
|
|
Inventory valuation adjustments |
$ |
3,799 |
|
|
$ |
8,694 |
|
Labor expense |
1,751 |
|
|
503 |
|
Consulting and legal fees |
225 |
|
|
314 |
|
Other |
2,710 |
|
|
116 |
|
Gain on sale of building |
— |
|
|
(6,104 |
) |
Severance |
617 |
|
|
— |
|
|
|
|
|
Exit of certain lines of business (2)
|
|
|
|
Inventory valuation adjustments |
535 |
|
|
1,152 |
|
Asset impairments |
(458 |
) |
|
837 |
|
Severance |
— |
|
|
2,749 |
|
Other |
488 |
|
|
— |
|
Total |
$ |
9,667 |
|
|
$ |
8,261 |
|
|
|
(1) |
Facility consolidation includes inventory valuation adjustments associated with SKU rationalization, labor expense related to organizing inventory and equipment in preparation for the facility consolation, consulting and legal fees related to the project, the gain on the sale of an existing building, and other expenses. The labor, consulting, and legal expenses were included in selling, general and administrative expense ("SG&A") on the Consolidated Statement of Comprehensive Income (Loss). The inventory valuation adjustments were included in cost of sales on the Consolidated Statement of Comprehensive Income (Loss). |
(2)
As part of the restructuring, the Company is exiting a manufacturing business line. Related charges included adjustments to write inventory down to net realizable value, asset impairment charges, and employee severance, which were included in cost of sales, other income and expense, and SG&A on the Consolidated Statement of Comprehensive Income (Loss), respectively. Charges incurred in the current year include:
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|
|
|
|
|
|
|
Year Ended
December 28, 2019 |
Inventory valuation adjustments |
|
$ |
5,707 |
|
Severance |
|
3,820 |
|
Total |
|
$ |
9,527 |
|
|
| Schedule of Restructuring Reserve by Type of Cost |
The following represents the roll forward of restructuring reserves for the year ended December 28, 2019:
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|
|
|
|
|
|
|
|
Balance as of December 29, 2018 |
|
Impact to Earnings |
|
Cash Paid |
|
Balance as of December 28, 2019 |
Severance and related expense |
$ |
1,537 |
|
|
$ |
617 |
|
|
$ |
(1,033 |
) |
|
$ |
1,121 |
|
The following represents a roll forward of the restructuring reserves for the year ended December 28, 2019:
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|
|
|
|
|
|
|
|
|
|
|
|
|
Balance as of December 29, 2018 |
|
Impact to Earnings |
|
Cash Paid |
|
Balance as of December 28, 2019 |
Severance and related expense |
$ |
— |
|
|
$ |
3,820 |
|
|
$ |
(534 |
) |
|
$ |
3,286 |
|
|