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IMPAIRMENT, RESTRUCTURING AND OTHER CHARGES | 12 Months Ended
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Jun. 30, 2020
IMPAIRMENT, RESTRUCTURING AND OTHER CHARGES |
IMPAIRMENT, RESTRUCTURING AND OTHER CHARGES | 7. IMPAIRMENT, RESTRUCTURING AND OTHER CHARGES Impairment During fiscal 2020, we impaired an intangible asset for IPR&D in the Security division due to a strategic shift in the direction of the project and abandoned a non-core product line in our Healthcare division which resulted in the write-off of assets, including intangible and fixed assets. As a result, $5.5 million of assets, including intangible and fixed assets, were written off as we determined that these assets had no value and were permanently impaired. During fiscal 2019, there were no impairment charges. During fiscal 2018, we impaired (i) a product line in our Security division that became redundant as a result of the ETD acquisition, (ii) two product lines in our Healthcare division, and (iii) certain trademarks in our Optoelectronics and Manufacturing division that are no longer used. As a result, $7.8 million of assets, including intangible and fixed assets, were written off as we determined that these assets had 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 and thereby improve operational efficiency. Acquisition and integration costs. During fiscal 2020, we incurred $0.4 million in costs for professional fees relating to acquisitions. Facility consolidation / employee termination. During fiscal 2020, we incurred $4.0 million in employee termination costs as part of operational efficiency initiatives. We also incurred $0.2 million in costs associated with the consolidation of facilities in our Security division. Legal fees and settlement costs. During fiscal 2020, legal fees and settlement costs resulted in a net recovery of $3.6 million as a result of insurance reimbursements of certain legal costs. The following tables summarize restructuring and other charges for the periods set forth below (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2018
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Optoelectronics | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | and | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Security | ​ | Healthcare | ​ | Manufacturing | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Division |  | Division |  | Division |  | Corporate |  | Total
Acquisition-related costs | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | 1,541 | ​ | $ | 1,541
Employee termination costs | ​ |  | 1,485 | ​ |  | 16 | ​ |  | 610 | ​ |  | — | ​ |  | 2,111
Facility closures/consolidation | ​ | ​ | 213 | ​ | ​ | 263 | ​ | ​ | 26 | ​ | ​ | — | ​ | ​ | 502
Legal and accrued settlement costs | ​ |  | — | ​ |  | 19,364 | ​ |  | — | ​ |  | 3,650 | ​ |  | 23,014
Total expensed | ​ | $ | 1,698 | ​ | $ | 19,643 | ​ | $ | 636 | ​ | $ | 5,191 | ​ | $ | 27,168
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2019
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Optoelectronics | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | and | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Security | ​ | Healthcare | ​ | Manufacturing | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Division |  | Division |  | Division |  | Corporate |  | Total
Acquisition-related costs | ​ | $ | — | ​ | $ | — | ​ | $ | 287 | ​ | $ | 1,021 | ​ | $ | 1,308
Employee termination costs | ​ |  | 132 | ​ |  | 1,629 | ​ |  | 687 | ​ |  | — | ​ |  | 2,448
Facility closures/consolidation | ​ |  | — | ​ |  | 1,918 | ​ |  | 84 | ​ |  | — | ​ |  | 2,002
Legal and accrued settlement costs, net | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | (1,931) | ​ |  | (1,931)
Total expensed | ​ | $ | 132 | ​ | $ | 3,547 | ​ | $ | 1,058 | ​ | $ | (910) | ​ | $ | 3,827
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2020
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Optoelectronics | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | and | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Security | ​ | Healthcare | ​ | Manufacturing | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Division |  | Division |  | Division |  | Corporate |  | Total
Acquisition-related costs | ​ | $ | 309 | ​ | $ | — | ​ | $ | 41 | ​ | $ | — | ​ | $ | 350
Employee termination costs | ​ |  | 2,748 | ​ |  | 466 | ​ |  | 618 | ​ |  | 184 | ​ |  | 4,016
Facility closures/consolidation | ​ |  | 231 | ​ |  | — | ​ |  | — | ​ |  | ​ | ​ |  | 231
Legal and accrued settlement costs, net | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | (3,572) | ​ |  | (3,572)
Total expensed | ​ | $ | 3,288 | ​ | $ | 466 | ​ | $ | 659 | ​ | $ | (3,388) | ​ | $ | 1,025
​ The changes in the accrual for restructuring and other charges for fiscal 2019 and 2020 were as follows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Legal | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Facility | ​ | Settlements | ​ | ​ | ​
​ | ​ | Acquisition- | ​ | Employee | ​ | Closure/ | ​ | and | ​ | ​ | ​
​ | ​ | related | ​ | Termination | ​ | Consolidation | ​ | Related | ​ | ​ | ​
​ |  | Costs |  | Costs |  | Cost |  | Costs |  | Total
Balance as of June 30, 2018 | ​ | $ | — | ​ | $ | 837 | ​ | $ | 399 | ​ | $ | 14,065 | ​ | $ | 15,301
Restructuring and other charges | ​ | ​ | 1,308 | ​ | ​ | 2,448 | ​ | ​ | 2,002 | ​ | ​ | (1,931) | ​ | ​ | 3,827
Payments and other adjustments | ​ | ​ | (1,308) | ​ | ​ | (2,853) | ​ | ​ | (2,401) | ​ | ​ | (5,803) | ​ | ​ | (12,365)
Balance as of June 30, 2019 | ​ | $ | — | ​ | $ | 432 | ​ | $ | — | ​ | $ | 6,331 | ​ | $ | 6,763
Restructuring and other charges, net | ​ |  | 350 | ​ |  | 4,016 | ​ |  | 231 | ​ |  | (3,572) | ​ |  | 1,025
Payments and other adjustments | ​ |  | (350) | ​ |  | (3,903) | ​ |  | (30) | ​ |  | (877) | ​ |  | (5,160)
Balance as of June 30, 2020 | ​ | $ | — | ​ | $ | 545 | ​ | $ | 201 | ​ | $ | 1,882 | ​ | $ | 2,628
​ The following table summarizes the impairment, restructuring and other charges for fiscal 2018, 2019 and 2020 (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2018 |  | 2019 |  | 2020
Impairment of assets | ​ | $ | 7,795 | ​ | $ | — | ​ | $ | 5,458
Facility closure / consolidations | ​ | ​ | 502 | ​ |  | 2,002 | ​ |  | 231
Employee termination costs | ​ | ​ | 2,111 | ​ |  | 2,448 | ​ |  | 4,016
Legal fees, settlements and related costs, net | ​ | ​ | 23,014 | ​ |  | (1,931) | ​ |  | (3,572)
Acquisition-related costs | ​ | ​ | 1,541 | ​ |  | 1,308 | ​ |  | 350
Total impairment, restructuring and other charges | ​ | $ | 34,963 | ​ | $ | 3,827 | ​ | $ | 6,483
​

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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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