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Restructuring (Notes)

12 Months Ended

Mar. 31, 2019

Restructuring and Related Activities [Abstract]

Restructuring and Related Activities Disclosure [Text Block]

2. RESTRUCTURING

Fiscal 2019 Restructuring Plan. During the third quarter of fiscal 2019, we adopted and announced a targeted restructuring plan (the "Fiscal 2019 Restructuring Plan"), which included the closure of two manufacturing facilities, one in Brazil and one in England, as well as other actions including the rationalization of certain products. Fewer than 200 positions are being eliminated. The Company will relocate the production of certain impacted products to other existing manufacturing operations during fiscal 2020. These restructuring actions are designed to enhance profitability and improve efficiency.

We have incurred pre-tax expenses totaling $40,708 related to these restructuring actions, of which $30,987 was recorded as restructuring expenses and $9,721 was recorded in cost of revenues, with a total of $28,417, $2,518, $664, and $7,794 related to the Healthcare Products, Healthcare Specialty Services, Life Sciences, and Applied Sterilization Technologies segments, respectively. Corporate related restructuring charges were $1,315. We expect to incur additional restructuring expenses related to this plan of approximately $3,000 in fiscal 2020 and beyond.

The following table summarizes our total pre-tax restructuring expenses for fiscal 2019:

Year Ended March 31, 2019	Fiscal 2019 Restructuring Plan
Severance and other compensation related costs	$	5,651
Accelerated depreciation and amortization	16,194
Asset impairment	4,312
Lease termination costs and other	4,830
Product rationalization (1)	9,721
Total restructuring expenses	$	40,708

(1) Recorded in cost of revenues on the Consolidated Statements of Income.

Liabilities related to restructuring activities are recorded as current liabilities on the accompanying Consolidated Balance Sheets within “Accrued payroll and other related liabilities” and “Accrued expenses and other.” The following table summarizes our restructuring liability balances:

Fiscal 2019 Restructuring Plan		March 31, 2018					Provisions					Payments /Impairments (1)					March 31, 2019
Severance and termination benefits		$	—				$	5,651				$	(1,549	)			$	4,102
Lease termination obligations and other		—					4,830					(2,801		)			2,029
Total		$	—		—		$	10,481		—		$	(4,350	)	—		$	6,131

(1) Certain amounts reported include the impact of foreign currency movements relative to the U.S. dollar.

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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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