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IMPAIRMENT, RESTRUCTURING AND OTHER CHARGES | 12 Months Ended
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Jun. 30, 2023
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 fiscal year ended June 30, 2023, we recognized $7.6 million in impairment, restructuring and other charges, which included $3.9 million in legal charges primarily related to class action litigation and government investigations, $1.7 million for employee terminations, $1.5 million for other facility closure costs for operational efficiency activities, and $0.4 million in acquisition related costs. During the fiscal year ended June 30, 2022, we recognized $7.5 million in impairment, restructuring and other charges, which included $5.1 million in legal charges primarily related to class action litigation and government investigations, $1.1 million for employee terminations, $1.0 million for impairment of software assets, $0.3 million in acquisition related costs, and a net benefit for facility closures activity of a nominal amount. During the fiscal 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 ROU 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. The following tables summarize impairment, restructuring and other charges for the periods set forth below (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Fiscal 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, net | ​ |  | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 465 | ​ | ​ | 465
Total expensed | ​ | $ | 9,297 | ​ | $ | 27 | ​ | $ | 315 | ​ | $ | 465 | ​ | $ | 10,104
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Fiscal 2022
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Optoelectronics | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | and | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Security | ​ | Healthcare | ​ | Manufacturing | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Division |  | Division |  | Division |  | Corporate |  | Total
Impairment charges | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | 1,006 | ​ | $ | 1,006
Acquisition-related costs | ​ | ​ | 232 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 56 | ​ | ​ | 288
Employee termination costs | ​ |  | 1,077 | ​ |  | — | ​ |  | 100 | ​ |  | — | ​ |  | 1,177
Facility closures/consolidation | ​ |  | (33) | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | (33)
Legal costs, net | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | 5,104 | ​ |  | 5,104
Total expensed | ​ | $ | 1,276 | ​ | $ | — | ​ | $ | 100 | ​ | $ | 6,166 | ​ | $ | 7,542
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Fiscal 2023
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Optoelectronics | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | and | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Security | ​ | Healthcare | ​ | Manufacturing | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Division |  | Division |  | Division |  | Corporate |  | Total
Acquisition-related costs | ​ | $ | 23 | ​ | $ | 225 | ​ | $ | 7 | ​ | $ | 127 | ​ | $ | 382
Employee termination costs | ​ | ​ | 849 | ​ | ​ | 355 | ​ | ​ | 532 | ​ | ​ | — | ​ | ​ | 1,736
Facility closures/consolidation | ​ | ​ | 35 | ​ | ​ | — | ​ | ​ | 1,504 | ​ | ​ | — | ​ | ​ | 1,539
Legal costs, net | ​ | ​ | 808 | ​ | ​ | 2,497 | ​ | ​ | 464 | ​ | ​ | 140 | ​ | ​ | 3,909
Total expensed | ​ | $ | 1,715 | ​ | $ | 3,077 | ​ | $ | 2,507 | ​ | $ | 267 | ​ | $ | 7,566
​ 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 2022 and 2023 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 (benefit), net | ​ | ​ | 288 | ​ | ​ | 1,177 | ​ | ​ | (33) | ​ | ​ | 6,110 | ​ | ​ | 7,542
Payments, adjustments and reimbursements, net | ​ | ​ | (288) | ​ | ​ | (1,246) | ​ | ​ | (330) | ​ | ​ | (7,102) | ​ | ​ | (8,966)
Balance as of June 30, 2022 | ​ | $ | — | ​ | $ | 181 | ​ | $ | 23 | ​ | $ | 1,780 | ​ | $ | 1,984
Restructuring and other charges (benefit), net | ​ |  | 383 | ​ |  | 1,736 | ​ |  | 1,539 | ​ |  | 3,909 | ​ |  | 7,567
Payments, adjustments and reimbursements, net | ​ |  | (376) | ​ |  | (1,810) | ​ |  | 47 | ​ |  | (5,033) | ​ |  | (7,172)
Balance as of June 30, 2023 | ​ | $ | 7 | ​ | $ | 107 | ​ | $ | 1,609 | ​ | $ | 656 | ​ | $ | 2,379
​

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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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