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Impairment, Restructuring and Other Charges | 9 Months Ended
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Mar. 31, 2022
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 three months ended March 31, 2022, we recognized $1.5 million in restructuring and other charges, which included $0.8 million in legal charges primarily related to class action litigation and government investigations, $0.4 million for employee terminations, and $0.3 million in acquisition related costs. During the three months ended March 31, 2021, we recognized a total net benefit of ($0.3) million which included a net benefit of ($0.7) million for reimbursements from our insurance carriers for covered legal charges. We also incurred charges of $0.2 million for employee terminations and $0.2 million for facility closure and operational efficiency activities. ​ During the nine months ended March 31, 2022, we recognized $4.8 million in restructuring and other charges, which included $1.0 million in employee terminations, $0.3 million in acquisition related costs, and $3.5 million in legal charges primarily related to class action litigation and government investigations. During the nine months ended March 31, 2021, we incurred a total net expense of $7.9 million which included $7.2 million for exit activities associated with an expired turnkey contract in Mexico. Such exit costs included $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 facility closure costs for operational efficiency activities and $0.3 million for acquisition-related activities.We also recognized a net benefit of ($1.2) million for reimbursements from our insurance carriers for covered legal charges. ​ The following tables summarize impairment, restructuring and other charges (benefits), net for the periods set forth below (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended March 31, 2021
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Optoelectronics and | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Healthcare | ​ | Manufacturing | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Security Division |  | Division |  | Division |  | Corporate |  | Total
Acquisition-related costs | ​ | $ | 22 | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | 22
Employee termination costs | ​ | ​ | 213 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 213
Facility closures/consolidation costs | ​ |  | 166 | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | 166
Legal costs (recoveries), net | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | (686) | ​ |  | (686)
Total expensed (benefit), net | ​ | $ | 401 | ​ | $ | — | ​ | $ | — | ​ | $ | (686) | ​ | $ | (285)
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended March 31, 2022
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Optoelectronics and | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Healthcare | ​ | Manufacturing | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Security Division |  | Division |  | Division |  | Corporate |  | Total
Acquisition-related costs | ​ | $ | 221 | ​ | $ | — | ​ | $ | — | ​ | $ | 56 | ​ | $ | 277
Employee termination costs | ​ | ​ | 409 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 409
Facility closures/consolidation | ​ | ​ | 3 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 3
Legal costs, net | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | 780 | ​ |  | 780
Total expensed | ​ | $ | 633 | ​ | $ | — | ​ | $ | — | ​ | $ | 836 | ​ | $ | 1,469
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Nine Months Ended March 31, 2021
​ |  | ​ | ​ |  | ​ | ​ |  | Optoelectronics and |  | ​ | ​ |  | ​ | ​
​ | ​ | ​ | ​ | ​ | Healthcare | ​ | Manufacturing | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Security Division |  | Division |  | Division |  | Corporate |  | Total
Impairment charges | ​ | $ | 552 | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | 552
Acquisition-related costs | ​ | ​ | 250 | ​ | ​ | 27 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 277
Employee termination costs | ​ | ​ | 4,010 | ​ | ​ | — |  | ​ | 146 | ​ | ​ | — | ​ | ​ | 4,156
Mexico transaction costs | ​ | ​ | 2,691 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 2,691
Facility closures/consolidation costs | ​ |  | 1,420 | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | 1,420
Legal costs (recoveries), net | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | (1,184) | ​ |  | (1,184)
Total expensed (benefit), net | ​ | $ | 8,923 | ​ | $ | 27 | ​ | $ | 146 | ​ | $ | (1,184) | ​ | $ | 7,912
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Nine Months Ended March 31, 2022
​ |  | ​ | ​ |  | ​ | ​ |  | Optoelectronics and |  | ​ | ​ |  | ​ | ​
​ | ​ | ​ | ​ | ​ | Healthcare | ​ | Manufacturing | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Security Division | ​ | Division | ​ | Division | ​ | Corporate | ​ | Total
Acquisition-related costs | ​ | $ | 221 | ​ | $ | — | ​ | $ | — | ​ | $ | 56 | ​ | $ | 277
Employee termination costs | ​ | ​ | 1,077 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 1,077
Facility closures/consolidation | ​ |  | (37) | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | (37)
Legal costs, net | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | 3,493 | ​ |  | 3,493
Total expensed | ​ | $ | 1,261 | ​ | $ | — | ​ | $ | — | ​ | $ | 3,549 | ​ | $ | 4,810
​ The accrued liability for restructuring and other charges is included in other accrued expenses and current liabilities in the condensed consolidated balance sheets. The changes in the accrued liability for restructuring and other charges for the nine-month period ended March 31, 2022 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, 2021 | ​ | $ | — | ​ | $ | 250 | ​ | $ | 386 | ​ | $ | 2,772 | ​ | $ | 3,408
Restructuring and other charges (benefits), net | ​ |  | 277 | ​ |  | 1,077 | ​ |  | (37) | ​ |  | 3,493 | ​ |  | 4,810
Payments, adjustments and reimbursements, net | ​ |  | (119) | ​ |  | (1,160) | ​ |  | (241) | ​ |  | (3,263) | ​ |  | (4,783)
Balance as of March 31, 2022 | ​ | $ | 158 | ​ | $ | 167 | ​ | $ | 108 | ​ | $ | 3,002 | ​ | $ | 3,435
​

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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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