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Restructuring | 6 Months Ended
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Dec. 31, 2017
Restructuring |
Restructuring | 10. Restructuring In the third quarter of fiscal year 2017, the Company consolidated its corporate workforce and exited three facilities that were no longer being utilized, which were subject to operating leases. The present value of the remaining lease payments was calculated using a credit adjusted risk-free rate and estimated sublease rentals for each lease. In aggregate, the Company recorded an impairment of $5.4 million for the three leases. The current portion of the liability of $1.7 million, was included in accrued liabilities and the long-term portion of $3.7 million, was included in other long-term liabilities on the condensed consolidated balance sheet. In addition to the lease impairment, the Company accelerated the useful life of each lease’s property and equipment to the cease-use date and recorded accelerated depreciation of $1.4 million. The Company also wrote off the deferred rent and the liability for tenant improvements associated with each lease which resulted in income of $1.9 million. The $4.9 million net impact of these actions was recorded in s elling, administrative, and other operating expenses in the condensed consolidated statements of operations. The following table summarizes the activity during the six months ended December 31, 2017:
|  |  |  |  |  | Balance at |  | Payments, net of |  | Accretion |  |  |  | Balance at
Description |  | Initial Value |  |  | June 30, 2017 |  | sublease income |  | Expense |  | Adjustments |  | December 31, 2017
|  |  | (In thousands)
Lease #1 |  | $ | 1,652 |  |  | $ | 1,421 |  | $ | (175) |  | $ | 18 |  | $ | — |  | $ | 1,264
Lease #2 |  |  | 1,311 |  |  |  | 1,138 |  |  | (364) |  |  | 12 |  |  | — |  |  | 786
Lease #3 |  |  | 2,443 |  |  |  | 2,282 |  |  | (364) |  |  | 32 |  |  | — |  |  | 1,950
Total |  | $ | 5,406 |  |  | $ | 4,841 |  | $ | (903) |  | $ | 62 |  | $ | — |  | $ | 4,000

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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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