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Restructuring and Divestiture Charges | 12 Months Ended
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Sep. 30, 2017
Restructuring and Related Activities [Abstract] |
Restructuring and Divestiture Charges | Restructuring and Divestiture Charges The Company evaluates its operations for opportunities to improve operational effectiveness and efficiency, including facility and operations consolidation, and to better align expenses with revenues. As a result of these assessments, the Company has undertaken various restructuring actions which are described below. The following table displays charges taken related to restructuring actions in fiscal 2017, 2016 and 2015 and a rollforward of the charges to the accrued balances as of September 30, 2017:
| Fiscal 2017 Actions |  | Fiscal 2016 Actions |  | Fiscal 2015 Actions |  | Fiscal 2014 Actions |  | Other Charges |  | Total
Restructuring and Divestiture Charges |  |  |  |  |  |  |  |  |  |  |
Fiscal 2015 charges: |  |  |  |  |  |  |  |  |  |  |
Workforce reductions | $ | — |  |  | $ | — |  |  | $ | 10.0 |  |  | $ | 6.0 |  |  | $ | 0.3 |  |  | $ | 16.3 |
Facility closure costs | — |  |  | — |  |  | — |  |  | 2.0 |  |  | 0.6 |  |  | 2.6 |
Fiscal 2015 restructuring charges | $ | — |  |  | $ | — |  |  | $ | 10.0 |  |  | $ | 8.0 |  |  | $ | 0.9 |  |  | $ | 18.9 |
Divestiture net charges |  |  |  |  |  |  |  |  |  |  | 9.6 |
Fiscal 2015 restructuring and divestiture charges |  |  |  |  |  |  |  |  |  |  | $ | 28.5 |
Fiscal 2016 charges: |  |  |  |  |  |  |  |  |  |  |
Workforce reductions | $ | — |  |  | $ | 10.5 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 10.5 |
Fiscal 2016 restructuring charges | $ | — |  |  | $ | 10.5 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 10.5 |
Fiscal 2017 charges: |  |  |  |  |  |  |  |  |  |  |
Workforce reductions | $ | 8.5 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 8.5 |
Facility closure costs | — |  |  | 4.8 |  |  | — |  |  | — |  |  | — |  |  | 4.8 |
Other | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Fiscal 2017 restructuring charges | $ | 8.5 |  |  | $ | 4.8 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $13.3
| Fiscal 2017 Actions |  | Fiscal 2016 Actions |  | Fiscal 2015 Actions |  | Fiscal 2014 Actions |  | Other Charges |  | Total
Rollforward of Accrued Restructuring |  |  |  |  |  |  |  |  |  |  |
Balance as of September 27, 2014 | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 12.0 |  |  | $ | 4.9 |  |  | $ | 16.9 |
Fiscal 2015 restructuring charges | $ | — |  |  | $ | — |  |  | $ | 10.0 |  |  | $ | 8.0 |  |  | $ | 0.9 |  |  | $ | 18.9 |
Stock-based compensation | — |  |  | — |  |  | (4.1 | ) |  | — |  |  | — |  |  | (4.1 | )
Severance payments | — |  |  | — |  |  | (2.8 | ) |  | (16.2 | ) |  | (4.9 | ) |  | (23.9 | )
Other payments | — |  |  | — |  |  | — |  |  | (1.3 | ) |  | (0.8 | ) |  | (2.1 | )
Balance as of September 26, 2015 | $ | — |  |  | $ | — |  |  | $ | 3.1 |  |  | $ | 2.5 |  |  | $ | 0.1 |  |  | $ | 5.7 |
Fiscal 2016 restructuring charges | $ | — |  |  | $ | 10.5 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 10.5 |
Stock-based compensation | — |  |  | (0.4 | ) |  | — |  |  | — |  |  | — |  |  | (0.4 | )
Severance payments | — |  |  | (4.6 | ) |  | (2.9 | ) |  | (1.4 | ) |  | (0.1 | ) |  | (9.0 | )
Other payments | — |  |  | — |  |  | — |  |  | (0.5 | ) |  | — |  |  | (0.5 | )
Balance as of September 24, 2016 | $ | — |  |  | $ | 5.5 |  |  | $ | 0.2 |  |  | $ | 0.6 |  |  | $ | — |  |  | $ | 6.3 |
Fiscal 2017 restructuring charges | $ | 8.5 |  |  | $ | 4.8 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 13.3 |
Severance payments | (1.0 | ) |  | (5.4 | ) |  | (0.2 | ) |  | — |  |  | — |  |  | (6.6 | )
Other payments | — |  |  | (1.2 | ) |  | — |  |  | (0.3 | ) |  | — |  |  | (1.5 | )
Balance as of September 30, 2017 | $ | 7.5 |  |  | $ | 3.7 |  |  | $ | — |  |  | $ | 0.3 |  |  | $ | — |  |  | $ | 11.5 |
Fiscal 2017 Actions During the second quarter of fiscal 2017, the Company completed its acquisition of Cynosure. In connection with the acquisition, the Company decided to terminate certain Cynosure executives in the second quarter of fiscal 2017 and recorded $1.5 million in severance and benefits charges. During the third and fourth quarters of fiscal 2017, the Company terminated additional executives and employees and recorded $4.3 million and $1.3 million, respectively, in severance and benefits charges. The charges were recorded pursuant to ASC 712, Compensation-Nonretirement Postemployment Benefits (ASC 712) or ASC 420, Exit or Disposal Cost Obligations (ASC 420) depending on the executive. Additional terminations may occur, but the Company does not have a formal plan at this time, nor does it expect any resulting charges to be material. During the fourth quarter of fiscal 2017, the decision was made to reduce headcount and related costs in R&D within Breast Health and to eliminate certain manufacturing personnel, primarily in Diagnostics. The majority of employees were notified of termination and related benefits in the fourth quarter of fiscal 2017, and the Company recorded these charges pursuant to ASC 420 as the benefits qualify as one-time termination benefits. As such, the Company recorded a charge for severance and benefits for these employees of $1.4 million in the fourth quarter. Fiscal 2016 Actions During the fourth quarter of fiscal 2016, the Company decided to initiate a cost reduction initiative in part of its Diagnostic's reportable segment, resulting in the termination of certain employees. The majority of employees were notified of termination and related benefits in the fourth quarter of fiscal 2016, and the Company recorded these charges pursuant to ASC 420 as the benefits qualify as one-time termination benefits. As such, the Company recorded a charge for severance and benefits of $0.9 million in the fourth quarter. This action was completed and no additional charges were recorded in fiscal 2017. During the third quarter of fiscal 2015, the Company decided to close its Bedford, Massachusetts facility where it manufactured its Skeletal Health products and provided certain support manufacturing services for its Breast Health segment. The manufacturing of the Skeletal Health products was outsourced to a third-party, and the Breast Health manufacturing services were moved to the Company's Danbury, Connecticut and Marlborough, Massachusetts facilities. In addition, research and development, sales and services support and administrative functions were moved to both Marlborough and Danbury. The transition was be substantially completed by the end of calendar year 2016. In connection with this plan, certain employees, primarily in manufacturing, were terminated. The employees were notified of termination and related benefits in the first quarter of fiscal 2016, and the Company recorded these charges pursuant to ASC 420. Employees were required to remain employed during this transition period and charges were recorded ratably over the required service period. The Company recorded $1.7 million in severance and benefits charges related to this action in fiscal 2016. This action was completed in the first quarter of fiscal 2017. In connection with shutting down the Bedford location, during the first quarter of fiscal 2017 the Company recorded $3.5 million for lease obligation charges related to a section of the facility that the Company had determined met the cease-use date criteria. The Company made certain assumptions regarding the time period it would take to obtain a subtenant and the sublease rates it could obtain. During the third quarter of fiscal 2017, the Company updated its assumption regarding the time period it will take to obtain a subtenant and as a result recorded an additional $1.3 million lease obligation charge. These estimates may vary from the actual sublease agreements executed, if at all, resulting in an adjustment to the charge. The Company has vacated other portions of the building but not the entire facility, and at this time does not meet the cease-use date criteria to record additional restructuring charges. During the first quarter of fiscal 2016, the Company began implementing a second plan to consolidate and improve operational efficiency of its international sales and marketing and field services operations and certain support functions. As a result, the Company identified and terminated certain employees during each quarter in fiscal 2016. Severance and benefits under this action were recorded pursuant to ASC 712, and ASC 420 depending on the circumstances. The Company recorded severance and benefit charges of $7.9 million in fiscal 2016 related to this plan. Fiscal 2015 Actions During each quarter of fiscal 2015, the Company continued to make executive management changes resulting in the termination of certain executives and employees on a worldwide basis. In addition, the Company continued to consolidate and close certain international offices to improve operational efficiency and reduce costs. Severance and benefit charges under these actions were recorded pursuant to ASC 712 and ASC 420 depending on the employees terminated, and the Company recorded severance and benefit charges of $10.0 million in fiscal 2015. Included in the charge was $4.1 million of stock-based compensation. No additional charges will be recorded under these actions. In connection with its review of operations, the Company decided to shut-down its manufacturing operation in China, which manufactured mammography systems for the Chinese market. As a result, the Company terminated manufacturing and research and development personnel located in China, and the severance charge was insignificant. Fiscal 2014 Actions During the first quarter of fiscal 2014, the Company implemented a cost reduction initiative comprised of reducing headcount and evaluating research projects and operating costs. In connection with this plan, the Company terminated certain employees on a worldwide basis. The Company recorded the severance and benefit charges pursuant to ASC 420 and ASC 712, depending on the employee terminated. The Company recorded $6.3 million of severance and benefit charges in the first quarter of fiscal 2014. On December 6, 2013, Stephen P. MacMillan was appointed as President, Chief Executive Officer and a director of the Company. The employment of John W. Cumming, the Company’s prior President and Chief Executive Officer, terminated upon Mr. MacMillan’s appointment. The Company provided separation benefits to Mr. Cumming pursuant to his employment letter dated July 18, 2013 resulting in a charge of $6.6 million in the first quarter of fiscal 2014, which included $4.4 million of stock-based compensation related to the acceleration of all of Mr. Cumming’s outstanding equity awards in accordance with the existing terms of Mr. Cumming’s share-based payment arrangements. In the second, third, and fourth quarters of fiscal 2014, the Company continued to make executive management changes and implement additional cost reduction initiatives resulting in the termination of certain executives and employees on a worldwide basis. In addition, in the fourth quarter of fiscal 2014 the Company decided to consolidate and close certain international offices. Severance and benefit charges under these actions were recorded pursuant to ASC 420 and ASC 712 depending on the employees terminated, and the Company recorded severance and benefit charges of $16.6 million in fiscal 2014. Included in the charge was $1.8 million of stock-based compensation for the modification of the terms of equity awards to certain employees. For those employees who continued to be employed beyond the minimum retention period, charges were recorded ratably over the estimated service period of the affected employees. During fiscal 2015, the Company recorded $6.0 million for severance and benefits costs and $2.0 million for facility closure costs related to this action. The facility closure costs primarily relate to lease obligation charges for three office locations that were vacated and the Company had met the cease-use date criteria. This action was completed in fiscal 2015. Divestiture In the fourth quarter of fiscal 2014, the Company completed the sale of its MRI breast coils product line and recorded a loss on disposal of $5.3 million. The Company also provided certain transition services through April 2015, including the manufacturing and sale of inventory to the buyer. Since all operations had ceased during the third quarter of fiscal 2015, the Company concluded that this subsidiary had been substantially liquidated and recorded a $9.6 million charge in the third quarter of fiscal 2015 related to writing off the cumulative translation adjustment related to the subsidiary.

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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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4) -URI http://asc.fasb.org/extlink&oid=27011515&loc=d3e140904-122747 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 5.P.3) -URI http://asc.fasb.org/extlink&oid=27011515&loc=d3e140864-122747 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 + Details
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