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Calculate the cash flow effect of nickolas restructuring

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Point 1: Aiello Industries recorded a restructuring charge of $37.8 million during fiscal 2017 related entirely to the closing of its operations based in Orlando, Florida. The company's financial statement footnotes indicated that expected employee separation payments amounted to $29.4 million and that fixed asset write-downs accounting for the remainder. Aiello had never before incurred restructuring charges. At the end of the year, the company's balance sheet included a restructuring accrual of $6,300,000.

Question 1: Calculate the cash flow effect of Nickolas's restructuring during fiscal 2017.

Reference no: EM132485486

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