| Restructuring, Impairment, and Other Activities Disclosure [Text Block] |
| (11) |
Restructuring and Other Impairment Activities |
Restructuring and other impairment charges, net of gains, were as follows (in thousands):
| |
|
Three months ended
December 31, |
|
|
Six months ended
December 31, |
|
| |
|
2020 |
|
|
2019 |
|
|
2020 |
|
|
2019 |
|
| Loss (gain) on sale of property, plant and equipment(1) |
|
$ |
273 |
|
|
$ |
- |
|
|
$ |
273 |
|
|
$ |
(11,497 |
) |
| Employee severance costs |
|
|
150 |
|
|
|
- |
|
|
|
150 |
|
|
|
- |
|
| Impairment of long-lived assets(2) |
|
|
- |
|
|
|
- |
|
|
|
623 |
|
|
|
- |
|
| Optimization of manufacturing and logistics |
|
|
- |
|
|
|
(178 |
) |
|
|
- |
|
|
|
462 |
|
| Total Restructuring and other impairment charges, net of gains |
|
$ |
423 |
|
|
$ |
(178 |
) |
|
$ |
1,046 |
|
|
$ |
(11,035 |
) |
| Manufacturing overhead costs(3) |
|
|
- |
|
|
|
270 |
|
|
|
- |
|
|
|
1,323 |
|
| Inventory reserves and write-downs(3)(4) |
|
|
389 |
|
|
|
119 |
|
|
|
389 |
|
|
|
3,209 |
|
| Total |
|
$ |
812 |
|
|
$ |
211 |
|
|
$ |
1,435 |
|
|
$ |
(6,503 |
) |
| (1) |
We completed the sale of a previously closed retail property to an independent third party in December 2020 and received $1.3 million in cash less certain adjustments, including $0.1 million in selling and other closing costs. As a result of the sale, the Company recognized a pre-tax loss of $0.3 million in the second quarter of fiscal 2021, which was recorded within the line item Restructuring and other impairment charges, net of gains in the consolidated statements of comprehensive income. |
| (2) |
We recorded a non-cash impairment charge of $0.6 million during the first quarter of fiscal 2021 related to the impairment of long-lived assets held in the retail segment. The asset group used in the impairment analysis, which represented the lowest level for which identifiable cash flows were available and largely independent of the cash flows of other groups of assets, was the individual retail design center. We estimated future cash flows based on design center-level historical results, current trends, and operating and cash flow projections. The impairment charge of $0.6 million was recorded in the consolidated statement of comprehensive income within the line item Restructuring and other impairment charges, net of gains. |
| (3) |
Manufacturing overhead costs and inventory reserves and write-downs are reported within Cost of Sales in the consolidated statements of comprehensive income. |
| (4) |
Based on actual demand and the most current forecasted market conditions, we recorded a non-cash charge of $0.4 million during the second quarter of fiscal 2021 to increase our finished goods inventory obsolescence reserve for certain slow moving and discontinued inventory items. The non-cash inventory write-down was recorded in the consolidated statement of comprehensive income within the line item Cost of Sales. |
|