Special Charges and Other, Net

12 Months Ended

Mar. 31, 2025

Other Income and Expenses [Abstract]

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


	Fiscal Year Ended March 31,
	2025		2024		2023
Restructuring
Employee separation costs	$	27.1	$	—	$	—


Contract exit costs	45.7		—		—
Other restructuring costs	3.7		6.2		16.8
Gain on sale of assets	—		—		(2.2)

Legal contingencies	1.0		(1.3)		(19.4)


Other	1.7		(17.2)		0.8
Total	$	79.2	$	(12.3)	$	(4.0)

In the third and fourth quarters of fiscal 2025, the Company announced restructuring and cost reduction measures, including closure of its Tempe, Arizona wafer fabrication facility, a reduction in headcount at its manufacturing facilities in Oregon, Colorado Springs and the Philippines. In addition, the Company announced 10% reductions in employee headcount across the Company to decrease its operating expenses, and cancellation or modification of its LTSAs with certain wafer foundries.

The Company's restructuring expenses during fiscal 2025 were primarily due to $45.7 million related to contract exit costs and $27.1 million related to employee separation costs.

During fiscal 2024, the Company earned income primarily due to $17.2 million related to the favorable resolution of a previously accrued unclaimed property audit matter and incurred expenses of $6.2 million related to the restructuring costs of acquired and existing wafer fabrication operations to increase operational efficiency.

During fiscal 2023, the Company earned income primarily due to $19.4 million related to the favorable resolution of a previously accrued legal matter partially offset by $16.8 million by restructuring costs of acquired and existing wafer fabrication operations to increase operational efficiency.

The following is a roll forward of accrued restructuring and other exit cost charges for the fiscal year ended March 31, 2025 (in millions):


	Restructuring
	Employee Separation Costs		Contract Exit Costs		Other		Total






Balance at March 31, 2024	$	—	$	—	$	—	$	—

Charges	27.1		45.7		3.7		76.5
Payments	(9.9)		—		(3.3)		(13.2)
Non-cash - Other	(0.1)		(41.1)		—		(41.2)


Balance at March 31, 2025	$	17.1	$	4.6	$	0.4	$	22.1
Current							$	19.0
Non-current							3.1
Total							$	22.1

The liability for restructuring and other exit costs on the Company's consolidated balance sheet as of March 31, 2025 is $22.1 million of which $19.0 million is included in accrued liabilities and $3.1 million is included in other long-term liabilities.