Restructuring Charges

12 Months Ended

Sep. 30, 2023

Restructuring and Related Activities [Abstract]

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 2023, 2022 and 2021 and a rollforward of the charges to the accrued balances as of September 30, 2023:


	Fiscal 2023 Actions		Fiscal 2022 Actions		Fiscal 2021 Actions		Other		Total
Restructuring Charges







Fiscal 2021 charges:
Workforce reductions	$	—	$	—	$	8.7	$	0.6	$	9.3


Fiscal 2021 restructuring charges	$	—	$	—	$	8.7	$	0.6	$	9.3
Fiscal 2022 charges:
Workforce reductions	$	—	$	2.6	$	(0.3)	$	(0.4)	$	1.9
Facility closure costs	—		0.5		—		—		0.5
Fiscal 2022 restructuring charges	$	—	$	3.1	$	(0.3)	$	(0.4)	$	2.4
Fiscal 2023 charges:
Workforce reductions	$	5.5	$	6.0	$	—	$	—	$	11.5
Other costs	—		0.5		—		—		0.5

Fiscal 2023 restructuring charges	$	5.5	$	6.5	$	—	$	—	$	12.0


	Fiscal 2023 Actions		Fiscal 2022 Actions		Fiscal 2021 Actions		Previous Other Charges		Total
Rollforward of Accrued Restructuring
Balance as of September 26, 2020	$	—	$	—	$	—	$	4.5	$	4.5

Fiscal 2021 restructuring charges	$	—	$	—	$	8.7	$	0.6	$	9.3
Stock-based compensation	—		—		(0.9)		—		(0.9)
Severance payments and adjustments	—		—		(4.6)		(4.2)		(8.8)

Balance as of September 25, 2021	$	—	$	—	$	3.2	$	0.9	$	4.1

Fiscal 2022 restructuring charges	$	—	$	3.1	$	(0.3)	$	(0.4)	$	2.4

Severance payments and adjustments	—		(0.4)		(2.5)		(0.5)		(3.4)

Balance as of September 24, 2022	$	—	$	2.7	$	0.4	$	—	$	3.1

Fiscal 2023 restructuring charges	$	5.5	$	6.5	$	—	$	—	$	12.0

Severance payments and adjustments	(3.2)		(2.5)		(0.4)		—		(6.1)

Balance as of September 30, 2023	$	2.3	$	6.7	$	—	$	—	$	9.0

Fiscal 2023 and 2022 Actions

During fiscal 2023 and 2022, the Company made various decisions to terminate approximately 128 employees across all divisions in multiple departments as well as consolidate and close certain offices in Germany and transfer warehouse distribution in the United States to a third-party facility. During fiscal 2023 and 2022, the Company recorded $9.4 million and $0.3 million, respectively, primarily for severance benefits under these actions, and $0.5 million in property closure costs in fiscal 2022. The charges were recorded pursuant to ASC 712, Compensation-Nonretirement Postemployment Benefits, and ASC 420, Exit or Disposal Cost Obligations (ASC 420) depending on the employee and nature of the severance benefit. These actions were completed as of September 30, 2023.

During the first quarter of fiscal 2022, the Company finalized its decision to close its Danbury, Connecticut facility where it manufactures its Breast Health capital equipment products. The manufacturing of the Breast Health capital equipment products and all other support services will be moved to the Company's Newark, Delaware facility. In addition, research and development, sales and services support and administrative functions have been and will be moved to the Newark, Delaware and Marlborough, Massachusetts facilities. The transition is expected to be completed by the second quarter of fiscal 2025. The majority of employees located in Danbury were given the option to relocate to the new locations. The employees were notified of the closure during the first quarter of fiscal 2022 but were not informed of their termination and related severance benefits until the third quarter of fiscal 2022. The Company is recording severance benefits ratably over the required service period pursuant to ASC 420. As a result, the Company recorded severance and benefits charges of $2.1 million and $1.6 million during fiscal 2023 and 2022, respectively. The Company expects to terminate 111 employees and that total severance and benefits charges, including retention, from this action will be approximately $5.9 million.

Fiscal 2021 Actions

During fiscal 2021, the Company made various decisions to terminate certain individuals across all divisions in multiple departments and close certain manufacturing facilities for minor product lines. The Company recorded $8.7 million for severance and benefits related to these actions, which occurred in the U.S. and various international locations. The charges were recorded pursuant to ASC 712 or ASC 420, depending on the employee and country location. These actions were completed.