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Restructuring charges, net (Tables)

9 Months Ended

Mar. 31, 2023

Restructuring and Related Activities [Abstract]

Restructuring and Related Costs

For the three and nine months ended March 31, 2023, restructuring charges, net was comprised of the following (in thousands):

												March 31, 2023
Employee severance pay and related costs												$	28,753
Non-cash accelerations of depreciation and amortization expense (1)												6,181
Restructuring charges, net												$	34,934

(1)At March 31, 2023, we had a remaining right-of-use asset of $5.2 million related to the office closure that we expect to be fully amortized in the fourth quarter of fiscal 2023 upon fully vacating this space. For further information, refer to Note 7. Leases.

Schedule of Restructuring Accrual Activity

The Company’s restructuring accrual activity for the nine months ended March 31, 2023 is summarized as follows (in thousands):

Accrued restructuring costs, June 30, 2022						$	—
Additions						26,297
Cash paid						(25,642)
Adjustment						2,548
Foreign currency translation and other adjustments						(5)
Accrued restructuring costs, March 31, 2023						$	3,198

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- Definition

Tabular disclosure of costs incurred for restructuring including, but not limited to, exit and disposal activities, remediation, implementation, integration, asset impairment, and charges against earnings from the write-down of assets.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section S99
-Paragraph 1
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- Definition

Tabular disclosure of an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost. This element may also include a description of any reversal and other adjustment made during the period to the amount of an accrued liability for restructuring activities. This element may be used to encapsulate the roll forward presentations of an entity's restructuring reserve by type of cost and in total, and explanation of changes that occurred in the period.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section 50
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-Section S99
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-Subparagraph (SAB Topic 5.P.4(b)(2))
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