XML 49 R27.htm IDEA: XBRL DOCUMENT
v3.24.1.1.u2

Restructuring Activities | 12 Months Ended
--- | ---
Mar. 31, 2024
Restructuring and Related Activities [Abstract] |
Restructuring Activities | RESTRUCTURING ACTIVITIES Fiscal 2024 Restructuring In fiscal year 2024, we announced a restructuring plan (the “2024 Restructuring Plan”) focused on aligning our portfolio, investments, and resources in support of our strategic priorities and growth initiatives. This plan reflects actions driven by portfolio rationalization, including costs associated with licensor commitments, as well as reductions in real estate and headcount. The actions associated with this plan are expected to be substantially completed by December 31, 2024. Under this plan, we estimate that we will incur approximately $125 million to $165 million in charges, consisting primarily of: •$50 million to $65 million associated with office space reductions; •$40 million to $55 million related to employee severance and employee-related costs; and •$35 million to $45 million in costs associated with licensor commitments. Fiscal 2023 Restructuring In fiscal year 2023, we announced a restructuring plan (the “2023 Restructuring Plan”) focused on prioritizing investments to our growth opportunities and optimizing our real estate portfolio. This plan included actions driven by portfolio rationalization including headcount reductions, in addition to office space reductions. The actions associated with this plan were substantially completed by September 30, 2023. Since the inception of the 2023 Restructuring Plan through March 31, 2024, we have incurred net charges of $158 million, and we do not expect to incur any additional restructuring charges under this plan. Restructuring activities as of the fiscal year ended March 31, 2024 was as follows (in millions):
| Fiscal 2024 Restructuring |  | Fiscal 2023 Restructuring |  |
| Licensor Commitments (a) |  | Workforce (a) |  | Office Space Reductions (b) |  | Acquisition-Related Intangibles Impairments and Other Charges (a) |  | Workforce (a) |  | Office Space Reductions (b) |  | Total
Charges to operations | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 68 |  |  | $ | 43 |  |  | $ | 44 |  |  | $ | 155 |
Charges settled in cash | — |  |  | — |  |  | — |  |  | — |  |  | (10) |  |  | — |  |  | (10) |
Non-cash items | — |  |  | — |  |  | — |  |  | (66) |  |  | — |  |  | (44) |  |  | (110) |
Liability as of March 31, 2023 | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 2 |  |  | $ | 33 |  |  | $ | — |  |  | $ | 35 |
Charges to operations | 30 |  |  | 29 |  |  | 2 |  |  | — |  |  | 3 |  |  | — |  |  | 64 |
Charges settled in cash | (17) |  |  | (5) |  |  | — |  |  | (2) |  |  | (36) |  |  | — |  |  | (60) |
Non-cash items | (13) |  |  | — |  |  | (2) |  |  | — |  |  | — |  |  | — |  |  | (15) |
Liability as of March 31, 2024 | $ | — |  |  | $ | 24 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 24 |
(a) Charges are recorded within Restructuring in the Consolidated Statement of Operations. (b) Charges are recorded within General and administrative expenses in the Consolidated Statement of Operations.
The restructuring liability of $24 million as of March 31, 2024, is included in accrued and other current liabilities on the Consolidated Balance Sheets.

X
- References No definition available. + Details
Name: | us-gaap_RestructuringAndRelatedActivitiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482017/420-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482017/420-10-50-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//420/tableOfContent Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482017/420-10-50-1 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4(e)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479823/420-10-S99-2 + Details
Name: | us-gaap_RestructuringAndRelatedActivitiesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration