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Restructuring Charges

6 Months Ended

Dec. 31, 2023

Restructuring and Related Activities [Abstract]

Restructuring Charges

5. Restructuring Charges

During the second quarter and first six months of fiscal year 2024, Adtalem recorded restructuring charges primarily driven by prior real estate consolidations at Adtalem’s home office. We continue to incur restructuring charges or reversals related to exited leased space from previous restructuring activities. During the second quarter and first six months of fiscal year 2023, Adtalem recorded restructuring charges primarily driven by real estate consolidations at Walden, Medical and Veterinary, and Adtalem’s home office resulting in impairments on operating lease assets and property and equipment. When estimating costs of exiting lease space, estimates are made which could differ materially from actual results and may result in additional restructuring charges or reversals in future periods. Termination benefit charges represent severance pay and benefits for employees impacted by workforce reductions. Adtalem’s home office is classified as “Home Office and Other” in Note 18 “Segment Information.” Restructuring charges by segment were as follows (in thousands):

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended December 31, 2023

​

Six Months Ended December 31, 2023

​

​

Real Estate and Other

​

Termination Benefits

​

Total

​

Real Estate and Other

​

Termination Benefits

​

Total

Walden

$

(776)

$

—

$

(776)

​

$

(776)

$

—

$

(776)

Medical and Veterinary

​

71

​

—

​

71

​

​

145

​

40

​

185

Home Office and Other

​

773

​

—

​

773

​

​

1,335

​

—

​

1,335

Total

​

$

68

​

$

—

​

$

68

​

$

704

​

$

40

​

$

744

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended December 31, 2022

​

Six Months Ended December 31, 2022

​

​

Real Estate and Other

​

Termination Benefits

​

Total

​

Real Estate and Other

​

Termination Benefits

​

Total

Chamberlain

$

—

$

—

$

—

​

$

818

$

—

$

818

Walden

​

41

​

—

​

41

​

​

3,067

​

54

​

3,121

Medical and Veterinary

​

87

​

—

​

87

​

​

6,913

​

—

​

6,913

Home Office and Other

​

557

​

678

​

1,235

​

​

4,626

​

950

​

5,576

Total

​

$

685

​

$

678

​

$

1,363

​

$

15,424

​

$

1,004

​

$

16,428

​

The following table summarizes the separation and restructuring plan activity for fiscal years 2023 and 2024, for which cash payments are required (in thousands):

​

​	​	​	​
Liability balance as of June 30, 2022	​	$	813
Increase in liability (separation and other charges)	​		1,620
Reduction in liability (payments and adjustments)	​		(1,692)
Liability balance as of June 30, 2023	​		741
Increase in liability (separation and other charges)	​		40
Reduction in liability (payments and adjustments)	​		(666)
Liability balance as of December 31, 2023	​	$	115

​

These liability balances are recorded as accrued liabilities on the Consolidated Balance Sheets as of June 30, 2023 and December 31, 2023.

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- References

No definition available.

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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/disclosureRef
-Topic 420
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482017/420-10-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 420
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482017/420-10-50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 420
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//420/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 420
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482017/420-10-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 420
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 5.P.4(e))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479823/420-10-S99-2

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