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IMPAIRMENT, RESTRUCTURING AND OTHER CHARGES | 12 Months Ended
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Jun. 30, 2021
IMPAIRMENT, RESTRUCTURING AND OTHER CHARGES |
IMPAIRMENT, RESTRUCTURING AND OTHER CHARGES | 7. IMPAIRMENT, 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. During the year ended June 30, 2021, we incurred $7.2 million for exit activities associated with an expired turnkey contract in Mexico. Such exit costs include $2.8 million for employee terminations, $1.1 million for facility closure and other exit costs, direct transaction costs of $2.7 million, and $0.6 million for right-of-use asset impairment for a leased facility. We also incurred costs of $1.6 million for other employee terminations and $0.5 million for other facility closure costs for operational efficiency activities, $0.3 million for acquisition-related activities, and $0.5 million for certain legal charges, net of insurance reimbursements. During fiscal 2020, we incurred $0.4 million in costs for professional fees relating to acquisitions, $4.0 million in employee termination costs as part of operational efficiency initiatives, and $0.2 million in costs associated with the consolidation of facilities in our Security division. Additionally, legal fees and settlement costs resulted in a net recovery of $3.6 million as a result of insurance reimbursements of certain legal costs. During the year ended June 30, 2020, we also 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. These impairment charges were included in impairment, restructuring and other charges in our consolidated statements of operations. The following tables summarize impairment, restructuring and other charges for the periods set forth below (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 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 costs (recoveries), 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
Impairment charges | ​ | $ | 2,200 | ​ | $ | 3,258 | ​ | $ | — | ​ | $ | — | ​ | $ | 5,458
Acquisition-related costs | ​ | ​ | 309 | ​ | ​ | — | ​ | ​ | 41 | ​ | ​ | — | ​ | ​ | 350
Employee termination costs | ​ |  | 2,748 | ​ |  | 466 | ​ |  | 618 | ​ |  | 184 | ​ |  | 4,016
Facility closures/consolidation | ​ |  | 231 | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | 231
Legal costs (recoveries), net | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | (3,572) | ​ |  | (3,572)
Total expensed | ​ | $ | 5,488 | ​ | $ | 3,724 | ​ | $ | 659 | ​ | $ | (3,388) | ​ | $ | 6,483
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2021
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Optoelectronics | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | and | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Security | ​ | Healthcare | ​ | Manufacturing | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Division |  | Division |  | Division |  | Corporate |  | Total
Impairment charges | ​ | $ | 552 | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | 552
Acquisition-related costs | ​ | ​ | 249 | ​ | ​ | 27 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 276
Employee termination costs | ​ |  | 4,130 | ​ |  | — | ​ |  | 315 | ​ |  | — | ​ |  | 4,445
Mexico transaction costs | ​ | ​ | 2,691 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 2,691
Facility closures/consolidation | ​ |  | 1,675 | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | 1,675
Legal costs (recoveries), net | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | 465 | ​ |  | 465
Total expensed | ​ | $ | 9,297 | ​ | $ | 27 | ​ | $ | 315 | ​ | $ | 465 | ​ | $ | 10,104
​ The accrued liability for restructuring and other charges is included in other accrued expenses and current liabilities in the consolidated balance sheet. The changes in the accrued liability for restructuring and other charges for fiscal 2020 and 2021 were as follows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | Facility | ​ | ​ | ​ | ​ | ​
​ | ​ | Acquisition- | ​ | Employee | ​ | Closure / | ​ | Legal | ​ | ​ | ​
​ | ​ | Related | ​ | Termination | ​ | Consolidation | ​ | Costs and | ​ | ​ | ​
​ |  | Costs |  | Costs |  | Cost |  | Settlements |  | Total
Balance as of June 30, 2019 | ​ | $ | — | ​ | $ | 432 | ​ | $ | — | ​ | $ | 6,331 | ​ | $ | 6,763
Restructuring and other charges (benefit), net | ​ | ​ | 350 | ​ | ​ | 4,016 | ​ | ​ | 231 | ​ | ​ | (3,572) | ​ | ​ | 1,025
Payments, adjustments and reimbursements, net | ​ | ​ | (350) | ​ | ​ | (3,903) | ​ | ​ | (30) | ​ | ​ | (877) | ​ | ​ | (5,160)
Balance as of June 30, 2020 | ​ | $ | — | ​ | $ | 545 | ​ | $ | 201 | ​ | $ | 1,882 | ​ | $ | 2,628
Restructuring and other charges, net | ​ |  | 276 | ​ |  | 4,368 | ​ |  | 1,675 | ​ |  | 3,156 | ​ |  | 9,475
Payments, adjustments and reimbursements, net | ​ |  | (276) | ​ |  | (4,663) | ​ |  | (1,490) | ​ |  | (2,266) | ​ |  | (8,695)
Balance as of June 30, 2021 | ​ | $ | — | ​ | $ | 250 | ​ | $ | 386 | ​ | $ | 2,772 | ​ | $ | 3,408
​

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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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