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RESTRUCTURING CHARGES

9 Months Ended

Jun. 30, 2020

Restructuring and Related Activities [Abstract]

RESTRUCTURING CHARGES

NOTE 18 RESTRUCTURING CHARGES

Beginning in the third quarter of fiscal year 2020, we implemented cost controls and began evaluating further measures to respond to the combination of weakened commodity prices, uncertainties related to the COVID-19 pandemic, and the resulting market volatility. We restructured our operations to accommodate scale during an industry downturn and to re-organize our operations to align to new marketing and management strategies. We commenced a number of restructuring efforts as a result of this evaluation, which included, among other things a reduction in our capital allocation plans, changes to our organizational structure, and a reduction of staffing levels. Costs incurred, as of June 30, 2020, in connection with the restructuring are comprised of one-time severance benefits to employees who are voluntarily or involuntarily terminated, benefits related to forfeitures and costs related to modification of stock-based compensation awards.

The following table summarizes the Company's restructuring charges incurred during the nine months ended June 30, 2020:

(in thousands)	North America Solutions				Offshore Gulf of Mexico				International Solutions				Other				Corporate G&A				Total
Employee termination benefits	$	10,273			$	1,440			$	2,308			$	328			$	4,629			$	18,978
Stock-based compensation benefit	(3,036		)		(178		)		(11		)		(61		)		(197		)		(3,483		)
Total restructuring charges	$	7,237			$	1,262			$	2,297			$	267			$	4,432			$	15,495

The following table summarizes the Company's accrual for restructuring charges for the nine months ended June 30, 2020:

(in thousands)	Employee Termination Benefits
Accrued restructuring charges at September 30, 2019	$	—
Charges	18,978
Cash payments	(11,959		)
Accrued restructuring charges at June 30, 2020	$	7,019

These expenses are recorded within restructuring charges on our Unaudited Condensed Consolidated Statements of Operations and the related liability is recorded within accounts payable on our Unaudited Condensed Consolidated Balance Sheets.

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- 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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-URI http://asc.fasb.org/topic&trid=2175745

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