Quarterly report pursuant to Section 13 or 15(d)

Restructuring Charges (Notes)

v3.6.0.2
Restructuring Charges (Notes)
 3 Months Ended
Nov. 30, 2016
Restructuring and Related Activities [Abstract]  
Restructuring and Related Activities Disclosure [Text Block]
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 $2.9 million and $4.4 million for the three months ended November 30, 2016 and 2015, respectively, and impacted all segments. Liabilities for severance will 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 rollforward summarizes current year restructuring reserve activity, by segment, for the three months ended November 30, 2016 and 2015 (in thousands):
 
 
Three Months Ended November 30, 2016
 
 
Industrial
 
Energy
 
Engineered Solutions
 
Corporate
 
Total
Balance as of August 31, 2016
 
$
1,343

 
$
3,021

 
$
1,863

 
$
46

 
$
6,273

Restructuring charges
 
715

 
117

 
2,080

 
36

 
2,948

Cash payments
 
(333
)
 
(558
)
 
(1,802
)
 
(36
)
 
(2,729
)
Other non-cash uses of reserve
 
(166
)
 
(6
)
 
(3
)
 
(13
)
 
(188
)
Impact of changes in foreign currency rates
 
(25
)
 
10

 
(8
)
 
—

 
(22
)
Balance as of November 30, 2016
 
$
1,534

 
$
2,584

 
$
2,130

 
$
33

 
$
6,282

 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended November 30, 2015
 
 
Industrial
 
Energy
 
Engineered Solutions
 
Corporate
 
Total
Balance as of August 31, 2015
 
$
—

 
$
—

 
$
—

 
$
—

 
$
—

Restructuring charges
 
709

 
2,031

 
1,415

 
225

 
4,380

Cash payments
 
(10
)
 
(37
)
 
(225
)
 
(51
)
 
(323
)
Other non-cash uses of reserve
 
—

 
—

 
—

 
—

 
—

Impact of changes in foreign currency rates
 
—

 
(45
)
 
—

 
—

 
(45
)
Balance as of November 30, 2015
 
$
699

 
$
1,949

 
$
1,190

 
$
174

 
$
4,012