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Impairment, restructuring and other charges | 6 Months Ended
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Dec. 31, 2017
Impairment, restructuring and other charges |
Impairment, restructuring and other charges | 5. Impairment, restructuring and other charges Impairment During the three months ended September 30, 2016, we abandoned a product line in our Security division related to a technology we no longer support. As a result, $5.4 million of assets, including the intangible and fixed assets associated with this product line, were written off as we determined that these assets have no value and were permanently impaired. During the three months ended December 31, 2017, we (i) abandoned a product line in our Security division that became redundant as a result of the ETD acquisition, (ii) abandoned a non-core product line in our Healthcare division, and (iii) abandoned certain trademarks in our Optoelectronics and Manufacturing division that are no longer used. As a result, $3.1 million of assets, including intangible and fixed assets, were written off as we determined that these assets have no value and were permanently impaired. Restructuring and Other Charges We endeavor to align our global capacity and infrastructure with demand by our customers as well as fully integrate acquisitions, thereby improving operational efficiency. A summary of such activity is included in the succeeding tables. In conjunction with the acquisition of ETD, beginning in fiscal 2017 we incurred professional fees to complete the acquisition. Such costs totaled $1.9 million through the second quarter of fiscal 2018. This included $0.2 million and $0.9 million during the three and six months ended December 31, 2017, respectively. During the three months ended December 31, 2017, we accrued $4.3 million of litigation and estimated settlement costs, $4.2 million of which was recorded in our Healthcare division. For the three and six months ended December 31, 2017, we incurred charges of $0.5 million and $0.8 million, respectively, for facility consolidation and employee terminations. The following table summarizes impairment, restructuring and other charges for the periods set forth below (in thousands):
|  | Three Months Ended December 31, 2016 |
|  | Security Division |  | Healthcare Division |  | Optoelectronics and Manufacturing Division |  | Corporate |  | Total |
Acquisition-related costs |  | $ | 85 |  | $ | — |  | $ | — |  | $ | 64 |  | $ | 149 |
Employee termination costs |  | 7,657 |  | 824 |  | 266 |  | — |  | 8,747 |
Facility closures/consolidation |  | 3 |  | 69 |  | 24 |  | — |  | 96 |
Other charges (reversals) |  | — |  | — |  | (67 | ) | 495 |  | 428 |
Total expensed |  | $ | 7,745 |  | $ | 893 |  | $ | 223 |  | $ | 559 |  | $ | 9,420 |
|  | Three Months Ended December 31, 2017 |
|  | Security Division |  | Healthcare Division |  | Optoelectronics and Manufacturing Division |  | Corporate |  | Total |
Impairment charges |  | $ | 1,490 |  | $ | 579 |  | $ | 1,075 |  | $ | — |  | $ | 3,144 |
Acquisition-related costs |  | — |  | — |  | — |  | 361 |  | 361 |
Employee termination costs |  | 90 |  | — |  | 146 |  | — |  | 236 |
Facility closures/consolidation |  | 11 |  | 243 |  | — |  | — |  | 254 |
Litigation and accrued settlement costs |  | — |  | 4,200 |  | — |  | 102 |  | 4,302 |
Total expensed |  | $ | 1,591 |  | $ | 5,022 |  | $ | 1,221 |  | $ | 463 |  | $ | 8,297 |
|  | Six Months Ended December 31, 2016 |
|  | Security Division |  | Healthcare Division |  | Optoelectronics and Manufacturing Division |  | Corporate |  | Total |
Impairment charges |  | $ | 5,332 |  | $ | 86 |  | $ | — |  | $ |  |  | $ | 5,418 |
Acquisition-related costs |  | 810 |  | — |  | — |  | 3,213 |  | 4,023 |
Employee termination costs |  | 7,807 |  | 1,080 |  | 331 |  | — |  | 9,218 |
Facility closures/consolidation |  | 179 |  | 69 |  | 24 |  | — |  | 272 |
Other charges (reversals) |  | 7 |  | — |  | (67 | ) | 506 |  | 446 |
Total expensed |  | $ | 14,135 |  | $ | 1,235 |  | $ | 288 |  | $ | 3,719 |  | $ | 19,377 |
|  | Six Months Ended December 31, 2017 |
|  | Security Division |  | Healthcare Division |  | Optoelectronics and Manufacturing Division |  | Corporate |  | Total |
Impairment charges |  | $ | 1,490 |  | $ | 579 |  | $ | 1,075 |  | $ | — |  | $ | 3,144 |
Acquisition-related costs |  | — |  | — |  | — |  | 1,181 |  | 1,181 |
Employee termination costs |  | 330 |  | — |  | 146 |  | — |  | 476 |
Facility closures/consolidation |  | 81 |  | 243 |  | — |  | — |  | 324 |
Litigation and accrued settlement costs |  | — |  | 4,200 |  | — |  | 102 |  | 4,302 |
Total expensed |  | $ | 1,901 |  | $ | 5,022 |  | $ | 1,221 |  | $ | 1,283 |  | $ | 9,427 |
The changes in the accrual for restructuring and other charges for the six-month period ended December 31, 2017 were as follows (in thousands):
|  | Acquisition- related Costs |  | Employee Termination Costs |  | Facility Closure/ Consolidation Cost |  | Charges Related to Litigation |  | Total |
Balance as of June 30, 2017 |  | $ | — |  | $ | 175 |  | $ | 291 |  | $ | — |  | $ | 466 |
Restructuring and other charges |  | 1,181 |  | 476 |  | 324 |  | 4,302 |  | 6,283 |
Payments and other adjustments |  | (1,181 | ) | (563 | ) | (300 | ) | (102 | ) | (2,146 | )
Balance as of December 31, 2017 |  | $ | — |  | $ | 88 |  | $ | 315 |  | $ | 4,200 |  | $ | 4,603 |

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- Definition The entire disclosure for impairment, restructuring and related activities. Description of impairment costs and 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 No definition available. + Details
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- References No definition available. + Details
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