Quarterly report pursuant to Section 13 or 15(d)

Note 11 - Restructuring and Other Impairment Activities - Schedule of Restructuring, Impairments and Other Related Charges (Details)

v3.20.4
Note 11 - Restructuring and Other Impairment Activities - Schedule of Restructuring, Impairments and Other Related Charges (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2020
Dec. 31, 2019
Loss (gain) on sale of property, plant and equipment(1) [1] $ 273 $ 0 $ 273 $ (11,497)
Total Restructuring and other impairment charges, net of gains 423 (178) 1,046 (11,035)
Inventory reserves and write-downs(3)(4) [2],[3] 389 119 389 3,209
Total 812 211 1,435 (6,503)
Employee Severance [Member]        
Restructuring Charge 150 0 150 0
Impairments of Long-lived Assets [Member]        
Restructuring Charge [4] 0 0 623 0
Optimization of Manufacturing and Logistics [Member]        
Restructuring Charge 0 (178) 0 462
Restructuring, Impairment, and Other Related Charges [Member]        
Total Restructuring and other impairment charges, net of gains 423 (178) 1,046 (11,035)
Manufacturing Overhead Costs [Member]        
Manufacturing overhead costs(3) [3] $ 0 $ 270 $ 0 $ 1,323
[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] Based on actual demand and forecasted market conditions, we recorded a non-cash charge of $0.4 million during the second quarter of fiscal 2021 to increase in our finished goods inventory obsolescence reserve for certain slow moving and discontinued inventory items, which was due to for these inventory items being less favorable than originally estimated. The non-cash inventory write-down was recorded in the consolidated statement of comprehensive income within the line item Cost of Sales.
[3] Manufacturing overhead costs and inventory reserves and write-downs are reported within Cost of Sales in the consolidated statements of comprehensive income.
[4] 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 at a retail design center location. 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.