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Impairment, Restructuring and Other Charges

9 Months Ended

Mar. 31, 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 three months ended March 31, 2023, we recognized $0.9 million in restructuring and other charges, which included $0.5 million for employee terminations, $0.3 million in legal charges primarily related to government investigations, and $0.1 million in acquisition-related costs and facility closure costs. 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 nine months ended March 31, 2023, we recognized $4.4 million in restructuring and other charges, which included $3.2 million in legal charges primarily related to class action litigation and government investigations, $1.0 million for employee terminations, and $0.2 million in acquisition-related costs and facility closure costs. During the nine months ended March 31, 2022, we recognized $4.8 million in restructuring and other charges, which included $3.5 million in legal charges primarily related to class action litigation and government investigations, $1.0 million in employee terminations and $0.3 million in acquisition related costs.

The following tables summarize impairment, restructuring and other charges (benefits), net for the periods set forth below (in thousands):


	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	$	633	$	—	$	—	$	836	$	1,469


	Three Months Ended March 31, 2023
					Optoelectronics and
			Healthcare		Manufacturing
	Security Division		Division		Division		Corporate		Total
Acquisition-related costs	$	—	$	—	$	—	$	50	$	50
Employee termination costs		413		81		32		—		526
Facility closures/consolidation		35		—		—		—		35
Legal costs, net		45		226		—		8		279
Total	$	493	$	307	$	32	$	58	$	890


	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	$	1,261	$	—	$	—	$	3,549	$	4,810


	Nine Months Ended March 31, 2023
					Optoelectronics and
			Healthcare		Manufacturing
	Security Division		Division		Division		Corporate		Total
Acquisition-related costs	$	23	$	—	$	—	$	127	$	150
Employee termination costs		688		291		47		—		1,026
Facility closures/consolidation		35		—		—		—		35
Legal costs, net		613		2,462		—		80		3,155
Total	$	1,359	$	2,753	$	47	$	207	$	4,366

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, 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, 2022	$	—	$	181	$	23	$	1,780	$	1,984
Restructuring and other charges, net		150		1,026		35		3,155		4,366
Payments, adjustments and reimbursements, net		(124)		(1,081)		1		(4,896)		(6,100)
Balance as of March 31, 2023	$	26	$	126	$	59	$	39	$	250