Annual report pursuant to Section 13 and 15(d)

Restructuring (Tables)

v3.19.1
Restructuring (Tables)
12 Months Ended
Mar. 31, 2019
Restructuring and Related Activities [Abstract]  
Restructuring and related costs
restructuring plans in progress or recently completed as of March 31, 2019 are summarized in the table below (amounts in thousands):
 
 
Total expected to be incurred
 
Incurred during year ended March 31, 2019 (4)
 
Cumulative incurred to date
Restructuring Plan
Segment
Personnel Reduction Costs
Relocation & Exit Costs
 
Personnel Reduction Costs
Relocation & Exit Costs
 
Personnel Reduction Costs
Relocation & Exit Costs
TOKIN operational & overhead function reduction in force
MSA, Corporate, & Solid
Capacitors (1)
5,339


 
942


 
5,339


Tantalum powder facility relocation(2) (3)
Solid Capacitors
850

2,468

 

3,355

 

3,355

Axial electrolytic production relocation from Granna to Evora
Film and Electrolytic
879

3,232

 

2,296

 

2,296

Reorganization due to decline of MnO2 Products
Solid Capacitors
1,798


 
1,585


 
1,585


___________________________________________
A summary of the expenses aggregated on the Consolidated Statements of Operations line item “Restructuring charges” in the fiscal years ended March 31, 2019, 2018 and 2017, is as follows (amounts in thousands):
 
 
Fiscal Years Ended March 31,
 
 
2019
 
2018
 
2017
Personnel reduction costs
 
$
2,823

 
$
12,587

 
$
2,214

Relocation and exit costs
 
5,956

 
2,256

 
3,190

Restructuring charges
 
$
8,779

 
$
14,843

 
$
5,404

Schedule of reconciliation of the beginning and ending liability balances for restructuring charges included in the line items "Accrued expenses" and "Other non-current obligations" on the Condensed Consolidated Balance Sheets
A reconciliation of the beginning and ending liability balances for restructuring charges included in the line items “Accrued expenses” and “Other non-current obligations” on the Consolidated Balance Sheets were as follows (amounts in thousands):
 
 
Personnel
Reductions
 
Relocation and Exit Costs
Balance at March 31, 2016
 
$
976

 
$

Costs charged to expense
 
2,214

 
3,190

Costs paid or settled
 
(2,130
)
 
(2,784
)
Change in foreign exchange
 
(61
)
 

Balance at March 31, 2017
 
999

 
406

TOKIN opening balance
 

 
312

Costs charged to expense (1)
 
12,384

 
2,256

Costs paid or settled
 
(3,901
)
 
(2,662
)
Change in foreign exchange
 
147

 
18

Balance at March 31, 2018
 
9,629

 
330

Costs charged to expense 
 
2,823

 
5,956

Costs paid or settled
 
(10,329
)
 
(5,957
)
Change in foreign exchange
 
(258
)
 
(13
)
Balance at March 31, 2019
 
$
1,865

 
$
316