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Restructuring
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9 Months Ended |
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May 31, 2013
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| Restructuring and Related Activities [Abstract] | |
| Restructuring |
Restructuring
The Company continually reviews its cost structure to be responsive to changes in end market demand and identify cost reduction opportunities. As a result of increased uncertainty and reduced demand, the Company implemented various restructuring initiatives to reduce costs through workforce reductions, plant consolidations, the continued movement of production and product sourcing to low cost countries and the centralization of certain selling and administrative functions. Resulting restructuring costs were $1.5 million and $2.0 million for the three and nine months ended May 31, 2013, respectively and $0.2 million and $0.3 million for the three and nine months ended May 31, 2012. Restructuring charges are primarily included in selling, administrative and engineering expenses in the condensed consolidated statements of operations. The restructuring reserve at May 31, 2013 and August 31, 2012 was $1.7 million and $2.9 million, respectively. The remaining restructuring related severance will be paid during the next twelve months, while facility consolidation costs (primarily reserves for future lease payments for vacated facilities) will be paid over the underlying lease terms. As part of these restructuring initiatives, during the three months ended May 31, 2013, the Company divested the Nielsen Sessions business (Engineered Solutions segment) for $4.9 million of cash proceeds, which approximated its carrying value.
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