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Restructuring and Other Charges (Tables)

12 Months Ended

Sep. 27, 2024

Restructuring and Related Activities [Abstract]

Schedule of Restructuring and Other Charges Impacts on Reportable Segment Income by Line of Business

The following table summarizes the impacts of the Restructuring and other charges by operating segment for the years ended September 27, 2024, September 29, 2023 and September 30, 2022 (in thousands):

			September 27, 2024						September 29, 2023						September 30, 2022
Infrastructure & Advanced Facilities			$	128,529					$	111,513					$	154,877
PA Consulting			6,382						14,706						4,253
Total			134,911						126,219						159,130
Amounts included in:
Operating profit (mainly Selling, General and Administrative costs (“SG&A") (1)			169,844						129,596						167,798
Other (Income) Expense, net (2)			(34,933)						(3,377)						(8,668)
			$	134,911					$	126,219					$	159,130

(1)The years ended September 27, 2024 and September 29, 2023 included $163.4 million and $61.1 million of restructuring and other charges mainly relating to the Separation Transaction (primarily professional services and employee separation costs) and $6.4 million and $14.3 million in restructuring and other charges relating to the Company's investment in PA Consulting (primarily employee separation costs), respectively. Included in the years ended September 29, 2023 and September 30, 2022 were $49.1 million and $77.0 million in charges associated mainly with real estate impairments, the majority of which related to Infrastructure & Advanced Facilities. For the year ended September 30, 2022, amounts included $91.3 million pre-tax related to the final settlement of the Legacy CH2M Matter (as defined in Note 19- Contractual Guarantees, Litigation, Investigations and Insurance), net of previously recorded reserves and approximately $27 million in third party recoveries was recorded as receivables reducing SG&A.

(2)The year ended September 27, 2024 includes a $35.2 million realized gain on interest rate swaps settled during the fourth quarter of fiscal 2024. The years ended September 29, 2023 and September 30, 2022 included gains of $3.4 million and $8.7 million, respectively, related to lease terminations.

Schedule of Derivative, Gain (loss) on Derivative, Net

The activity in the Company’s accrual for the Restructuring and other charges including the program activities described above for the year ended September 27, 2024 is as follows (in thousands):

Balance at September 29, 2023			$	35,656
Net Charges (1)			134,862
Payments & Other			(125,583)
Balance at September 27, 2024			$	44,935

(1)Excludes other net charges associated mainly with real estate related impairments during the year ended September 27, 2024.

Schedule of Restructuring and Other Activities by Major Type of Costs

The following table summarizes the Restructuring and other charges by major type of costs for the years ended September 27, 2024, September 29, 2023 and September 30, 2022 (in thousands):

			September 27, 2024						September 29, 2023						September 30, 2022
Lease Abandonments and Impairments			$	49					$	44,788					$	67,458
Voluntary and Involuntary Terminations			47,881						37,235						2,612
Outside Services (1)			100,593						35,099						22,068
Other (2)			(13,612)						9,097						66,992
Total			$	134,911					$	126,219					$	159,130

(1)Amounts in the year ended September 27, 2024 are comprised of professional services relating to the Separation Transaction.

(2)Amounts in the year ended September 27, 2024 and September 29, 2023 are mainly comprised of activities associated with the Separation Transaction including a realized gain of $35.2 million on interest rate swaps settled during fourth quarter of fiscal 2024. Amounts in the year ended September 29, 2023 are mainly comprised of charges associated with the write off of fixed assets associated with the Separation Transaction. Amounts in the year ended September 30, 2022 are mainly comprised of $91.3 million in other charges related to the final pre-tax settlement of the Legacy CH2M Matter, net of previously recorded reserves and approximately $27 million in third party recoveries was recorded as receivables reducing SG&A.

Schedule of Cumulative Amounts Incurred for Restructuring and Other Activities Costs

Cumulative amounts incurred to date for restructuring and other programs active at the end of fiscal 2024 by each major type of cost as of September 27, 2024 are as follows (in thousands):

Voluntary and Involuntary Terminations			79,288
Outside Services			134,076
Other (1)			(4,100)
Total			$	209,264

(1)The year ended September 27, 2024 includes a $35.2 million realized gain on interest rate swaps settled during the fourth quarter of fiscal 2024.

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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.

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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.

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