| Restructuring, Impairment, and Other Activities Disclosure [Text Block] |
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(13)
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Restructuring and Other Impairment Activities
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Restructuring and other impairment charges, net of gains, were as follows (in thousands):
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Three months ended
December 31,
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Six months ended
December 31,
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2022
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2021
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2022
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2021
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Gain on sale-leaseback transaction(1)
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$ |
(654 |
) |
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$ |
- |
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$ |
(2,911 |
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$ |
- |
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Gain on sale of property, plant and equipment(2)
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- |
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(3,913 |
) |
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- |
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(3,913 |
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Severance and other charges
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458 |
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280 |
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719 |
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535 |
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Total Restructuring and other impairment charges, net of gains
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$ |
(196 |
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$ |
(3,633 |
) |
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$ |
(2,192 |
) |
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$ |
(3,378 |
) |
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(1)
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In August 2022, we sold and subsequently leased back a retail design center and recognized a net gain of $0.7 million and $2.9 million for the three and six months ended December 31, 2022, respectively. The remaining deferred liability was $4.1 million as of December 31, 2022 and will be recognized over the remaining life of the lease. Refer to Note 6, Leases, for further discussion on the sale-leaseback transaction.
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(2)
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In October 2021, we sold our Atoka, Oklahoma distribution center to an independent third party 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 sold a property for $5.6 million in cash, which resulted in a pre-tax gain of $1.9 million.
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Restructuring payments made by the Company during the first six months of fiscal 2023 were $0.8 million, which were primarily for severance and lease payments due under a retail design center that was previously exited. Excluding the deferred liability of $4.1 million related to the sale-leaseback transaction, the remaining restructuring balance as of December 31, 2022 was less than $0.4 million, which is anticipated to be paid during the remainder of fiscal 2023.
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