Special Charges and Other, Net

12 Months Ended

Mar. 31, 2022

Other Income and Expenses [Abstract]

The following table summarizes activity included in the "special charges and other, net" caption on the Company's consolidated statements of income (in millions):


	Fiscal Year Ended March 31,
	2022		2021		2020
Restructuring
Employee separation costs	$	0.6	$	(1.3)	$	6.0
Gain on sale of assets	(7.9)		(5.8)		(1.5)
Impairment charges	—		—		0.7
Contract exit costs	5.0		(1.6)		5.2
Wafer fabrication restructuring	21.1		15.0		18.0
Other	(0.3)		0.1		2.6
Legal contingencies	12.5		0.2		15.7

Contingent consideration revaluation	(1.5)		(4.9)		—

Total	$	29.5	$	1.7	$	46.7

The Company continuously evaluates its existing operations in an attempt to identify and realize cost savings opportunities and operational efficiencies. This same approach is applied to businesses that are acquired by the Company and often the operating models of acquired companies are not as efficient as the Company's operating model which enables the Company to realize significant savings and efficiencies. As a result, following an acquisition, the Company will from time to time incur restructuring expenses; however, the Company is often not able to estimate the timing or amount of such costs in advance of the period in which they occur. The primary reason for this is that the Company regularly reviews and evaluates each position, contract and expense against the Company's strategic objectives, long-term operating targets and other operational priorities. Decisions related to restructuring activities are made on a "rolling basis" during the course of the integration of an acquisition whereby department managers, executives and other leaders work together to evaluate each of these expenses and make recommendations. As a result of this approach, at the time of an acquisition, the Company is not able to estimate the future amount of expected employee separation or exit costs that it will incur in connection with its restructuring activities.

The Company incurred costs of $21.1 million, $15.0 million and $18.0 million associated with restructuring certain of its wafer fabrication operations and other acquired operations during the fiscal years ended March 31, 2022, 2021 and 2020, respectively. These wafer fabrication restructuring efforts were substantially completed as of March 31, 2022. The Company's other restructuring activities during the fiscal years ended March 31, 2022, 2021 and 2020 were primarily related to the Company's most recent business acquisitions, and resulted from workforce, property and other operating expense rationalizations as well as combining product roadmaps and manufacturing operations. Additional costs will be incurred in the future as additional synergies or operational efficiencies are identified in connection with the Microsemi transaction, other previous acquisitions, or the restructuring of wafer fabrication operations. The Company is not able to estimate the amount of other such future expenses at this time.

During the fiscal years ended March 31, 2022 and 2020, the Company incurred $12.5 million and $15.7 million, respectively, of net charges related to legal settlements.

All of the Company's restructuring activities occurred in its semiconductor products segment. The Company incurred $70.6 million in costs since the start of the fiscal year ended March 31, 2019 in connection with employee separation activities and $3.9 million in connection with contract exit activities. The Company could incur future expenses as additional synergies or operational efficiencies are identified. Beyond what is already accrued, the Company is not able to estimate future expenses, if any, to be incurred.

The liability for restructuring and other exit costs of $16.0 million is included in accrued liabilities and other long-term liabilities, on the Company's consolidated balance sheet as of March 31, 2022.