Graham Corporation Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Restructuring Charge

Restructuring Charge

12 Months Ended

Mar. 31, 2015

Restructuring and Related Activities [Abstract]

Note 14 — Restructuring Charge:

In the fourth quarter of fiscal 2015, the Company eliminated certain director, management, office and manufacturing positions. As a result, a restructuring charge of $1,718 was recognized, which included severance costs. This charge is included in the caption “Other Expense” in the fiscal 2015 Consolidated Statement of Operations. A reconciliation of the changes in the restructuring reserve is as follows:


	Year ended March 31, 2015
Balance at beginning of year	$	—
Expense for restructuring		1,718
Amounts paid for restructuring		—

Balance at end of year	$	1,718

The current portion of the liability of $1,594 at March 31, 2015 is included in the caption “Accrued Compensation” and the long-term portion of $124 is separately presented in the Consolidated Balance Sheet.

- Definition

The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled.

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