Business Interruption Recoveries (Notes) |
12 Months Ended |
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Mar. 31, 2017 | |
| Extraordinary and Unusual Items [Abstract] | |
| Business Interruption Recoveries |
Business Interruption Recoveries
On May 3, 2016, a forest fire swept through the town of Fort McMurray, Alberta and the surrounding area causing significant damage to homes and businesses. None of Thermon's personnel located in Fort McMurray were injured nor were our facilities damaged. However, the entire city of Fort McMurray including all of our staff was evacuated for a period of approximately four weeks. We incurred temporary relocation costs of $21 for our employees as well as business interruption costs. As a result of the crisis at Fort McMurray, many of the nearby oil sands region facilities ceased operations until the first week of June during fiscal 2017. This shut down adversely impacted Thermon's core thermal solutions business and Sumac's equipment rental and sales business. We carry property insurance and business interruption coverages for all facilities including Fort McMurray. In the fourth quarter of fiscal 2017, we reached a settlement with the insurance carrier for the business interruption claim and received a cash payment, less deductible, of $320. As a result, the Company recorded $256 as a reduction to cost of sales, and $64 as a reduction to operating expenses.
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- References No definition available.
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- Definition The entire disclosure for extraordinary items. This may include information related to the determination or classification of an event or transaction meeting the criteria for unusual in nature and infrequent in occurrence. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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