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Restructuring and Impairment Charges

12 Months Ended

Sep. 30, 2021

Restructuring and Related Activities [Abstract]

Restructuring and Impairment Charges

Restructuring and Impairment Charges

During fiscal 2021, we incurred restructuring charges of $8.0 million in employee separation costs due to the elimination of 160 positions throughout the Company. Cash payments for all the employee separation costs will be paid by the end of our fiscal 2022. There were no impairment charges incurred during fiscal 2021.

During fiscal 2020, we incurred net charges totaling $45.0 million consisting of $28.0 million in impairment loss on operating lease assets, $5.2 million in impairment loss on disposals of property and equipment and $11.8 million in restructuring charges. The impairment losses were associated with closing certain non-core offices and reducing office space in other locations to better align with anticipated needs in light of post-pandemic workforce patterns. The restructuring charges related to employee separation costs as a result of eliminating 209 positions throughout the Company. Cash payments for all those employee separation costs were fully paid before the end of our fiscal 2021.

There were no restructuring and impairment charges incurred during fiscal 2019.

The following tables summarize our restructuring accruals. At September 30 2021, 2020, and 2019, the balances were classified as current liabilities and recorded in other accrued liabilities within the accompanying consolidated balance sheets.

			Accrual at September 30, 2019						Expense Additions						Cash Payments												Accrual Adjustments (*)						Accrual at September 30, 2020
			(In thousands)
Facilities charges			$	1,378					$	—					$	—											$	(1,378)					$	—
Employee separation			—						11,768						(3,577)												—						8,191
			1,378						$	11,768					$	(3,577)											$	(1,378)					8,191

			Accrual at September 30, 2020						Expense Additions						Cash Payments												Accrual Adjustments						Accrual at September 30, 2021
			(In thousands)
Employee separation			8,191						7,956						(8,291)												—						7,856
			8,191						$	7,956					$	(8,291)											$	—					7,856

(*) Upon adoption of Topic 842, accrued lease exit obligations of $1.4 million, which were associated with vacating excess leased space in fiscal 2017, were reclassified to operating lease liabilities.

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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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