Quarterly report pursuant to Section 13 or 15(d)

Note 12 - Restructuring and Other Impairment Activities - Schedule of Restructuring Reserve (Details)

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Note 12 - Restructuring and Other Impairment Activities - Schedule of Restructuring Reserve (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2021
Dec. 31, 2020
(Gain) loss on sale of property, plant and equipment(1) [1] $ (3,913) $ 273 $ (3,913) $ 273
Restructuring Charge (3,633) 423 (3,378) 1,046
Inventory reserves and write-downs(4)(5) [2],[3] 389 0 389
Total (3,633) 812 (3,378) 1,435
Employee Severance and Other Charges (Income) [Member]        
Restructuring Charge [4] 280 150 535 150
Impairments of Long-lived Assets [Member]        
Restructuring Charge [5] $ 0 $ 0 $ 0 $ 623
[1] We completed the sale of our previously closed Atoka, Oklahoma distribution center to an independent third party in October 2021 and received $2.8 million in cash less $0.2 million in closing costs. As a result of the sale, the Company recognized a pre-tax gain of $2.0 million in the second quarter of fiscal 2022. In addition, in December 2021, we completed the sale of a property for $5.6 million in cash, which resulted in a pre-tax gain of $1.9 million. In the year ago second quarter, we sold a previously closed retail property and received $1.3 million in cash less $0.1 million in closing costs, resulting in a pre-tax loss of $0.3 million. All three of these transactions were recorded within the line item Restructuring and other impairment charges, net of gains in the consolidated statements of comprehensive income.
[2] Manufacturing overhead costs and inventory reserves and write-downs are reported within Cost of Sales in the consolidated statements of comprehensive income.
[3] We recorded a non-cash charge of $0.4 million during the year ago second quarter to increase our finished goods inventory obsolescence reserve for certain slow moving and discontinued inventory items based on actual demand and the most current forecasted market conditions at that time. The non-cash inventory write-down was recorded in the consolidated statement of comprehensive income within the line item Cost of Sales.
[4] We recorded $0.3 million and $0.5 million of charges during the three and six months ended December 31, 2021, respectively. These charges primarily related to severance for terminated employees, including those at our recently sold Atoka distribution center. In recent years, we have executed on many key initiatives to further optimize our manufacturing and logistics, including closing our Atoka, Oklahoma distribution center and consolidating its workflow into our Old Fort, North Carolina facility. These charges were recorded in the consolidated statement of comprehensive income within the line item Restructuring and other impairment charges, net of gains.
[5] In the prior year first quarter, we recorded a non-cash charge of $0.6 million related to the impairment of long-lived assets held at a retail design center location. The asset group used for the impairment analysis was the individual retail design center, which represented the lowest level for which identifiable cash flows were available and largely independent of the cash flows of other groups of assets. We estimated future cash flows based on the design center-level historical results, current trends and operating and cash flow projections. The $0.6 million non-cash charge was recorded in the consolidated statement of comprehensive income within the line item Restructuring and other impairment charges, net of gains.