Annual report pursuant to Section 13 and 15(d)

Restructuring Charges (Notes)

v3.8.0.1
Restructuring Charges (Notes)
 12 Months Ended
Aug. 31, 2017
Restructuring Cost and Reserve [Line Items]  
Restructuring and Related Activities Disclosure [Text Block]
Note 3. Restructuring Charges
The Company has committed to various restructuring initiatives including workforce reductions, plant consolidations to reduce manufacturing overhead, satellite office closures, the continued movement of production and product sourcing to low cost alternatives and the centralization and standardization of certain administrative functions. Total restructuring charges for these activities were $7.2 million and $14.6 million for the year-ended August 31, 2017 and 2016, respectively and impacted all segments. Liabilities for severance will generally be paid during the next twelve months, while future lease payments related to facilities vacated as a result of restructuring will be paid over the underlying remaining lease terms.
The following rollforwards summarize restructuring reserve activity by segment (in thousands):
 
 
Year Ended August 31, 2017
 
 
Industrial
 
Energy
 
Engineered Solutions
 
Corporate
 
Total
Balance as of August 31, 2016
 
$
1,343

 
$
3,021

 
$
1,863

 
$
46

 
$
6,273

Restructuring charges
 
1,687

 
1,942

 
3,488

 
111

 
7,228

Cash payments
 
(2,384
)
 
(1,460
)
 
(3,582
)
 
(83
)
 
(7,509
)
Other non-cash uses of reserve
 
(436
)
 
(41
)
 
(6
)
 
(44
)
 
(527
)
Impact of changes in foreign currency rates
 
(8
)
 
151

 
29

 
—

 
172

Balance as of August 31, 2017
 
$
202

 
$
3,613

 
$
1,792

 
$
30

 
$
5,637


 
 
Year Ended August 31, 2016
 
 
Industrial
 
Energy
 
Engineered Solutions
 
Corporate
 
Total
Balance as of August 31, 2015
 
$
—

 
$
—

 
$
—

 
$
—

 
$
—

Restructuring charges
 
3,158

 
5,544

 
5,411

 
458

 
14,571

Cash payments
 
(1,772
)
 
(2,345
)
 
(3,199
)
 
(203
)
 
(7,519
)
Other non-cash uses of reserve
 
(54
)
 
(166
)
 
(364
)
 
(209
)
 
(793
)
Impact of changes in foreign currency rates
 
11

 
(12
)
 
15

 
—

 
14

Balance as of August 31, 2016
 
$
1,343

 
$
3,021

 
$
1,863

 
$
46

 
$
6,273