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Restructuring Charges, Net | 9 Months Ended
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Jan. 31, 2017
Restructuring Charges, Net |
8. | Restructuring Charges, Net
The Company continued the implementation of the fiscal 2016 restructuring plan in fiscal 2017 in order to integrate the Hay Group entities that were acquired in fiscal 2016 by eliminating redundant positions and operational, general and administrative expenses and consolidating premises. This resulted in restructuring charges of $28.3 million in the nine months ended January 31, 2017, of which $11.5 million relates to severance and $16.8 million relates to consolidation of premises. In the three months ended January 31, 2017, the Company recorded restructuring charges of $3.8 million which relates to the consolidation of office space. Restructuring charges, net was $30.6 million in the three and nine months ended January 31, 2016, of which $29.9 million relates to severance and $0.7 million, relates to consolidation and abandonment of premises. Changes in the restructuring liability during the three months ended January 31, 2017 are as follows:
|  | Severance |  |  | Facilities |  |  | Total |
|  | (in thousands) |
Liability as of October 31, 2016 |  | $ | 5,005 |  |  | $ | 6,926 |  |  | $ | 11,931 |
Restructuring charges, net |  |  | — |  |  |  | 3,801 |  |  |  | 3,801 |
Reductions for cash payments |  |  | (1,900 | ) |  |  | (2,338 | ) |  |  | (4,238 | )
Increase for non-cash charges |  |  | — |  |  |  | 584 |  |  |  | 584 |
Exchange rate fluctuations |  |  | (71 | ) |  |  | 554 |  |  |  | 483 |
Liability as of January 31, 2017 |  | $ | 3,034 |  |  | $ | 9,527 |  |  | $ | 12,561 |
Changes in the restructuring liability during the nine months ended January 31, 2017 are as follows:
|  | Severance |  |  | Facilities |  |  | Total |
|  | (in thousands) |
Liability as of April 30, 2016 |  | $ | 5,293 |  |  | $ | 669 |  |  | $ | 5,962 |
Restructuring charges, net |  |  | 11,472 |  |  |  | 16,849 |  |  |  | 28,321 |
Reductions for cash payments |  |  | (12,905 | ) |  |  | (6,308 | ) |  |  | (19,213 | )
Reductions for non-cash charges |  |  | — |  |  |  | (1,896 | ) |  |  | (1,896 | )
Exchange rate fluctuations |  |  | (826 | ) |  |  | 213 |  |  |  | (613 | )
Liability as of January 31, 2017 |  | $ | 3,034 |  |  | $ | 9,527 |  |  | $ | 12,561 |
As of January 31, 2017 and April 30, 2016, the restructuring liability is included in the current portion of other accrued liabilities on the consolidated balance sheets, except for $5.0 million and $0.6 million, respectively, of facilities costs which primarily relate to commitments under operating leases, net of sublease income, which are included in other long-term liabilities. The restructuring liability by segment is summarized below:
|  | January 31, 2017 |
|  | Severance |  |  | Facilities |  |  | Total |
|  | (in thousands) |
Executive Search |  |  |  |  |  |  |  |  |  |  |  |
North America |  | $ | 143 |  |  | $ | 216 |  |  | $ | 359 |
Europe, Middle East and Africa (“EMEA”) |  |  | — |  |  |  | 12 |  |  |  | 12 |
Asia Pacific |  |  | 5 |  |  |  | 1,042 |  |  |  | 1,047 |
Latin America |  |  | — |  |  |  | 145 |  |  |  | 145 |
Total Executive Search |  |  | 148 |  |  |  | 1,415 |  |  |  | 1,563 |
Hay Group |  |  | 2,886 |  |  |  | 7,971 |  |  |  | 10,857 |
Futurestep |  |  | — |  |  |  | 141 |  |  |  | 141 |
Liability as of January 31, 2017 |  | $ | 3,034 |  |  | $ | 9,527 |  |  | $ | 12,561 |
|  | April 30, 2016 |
|  | Severance |  |  | Facilities |  |  | Total |
|  | (in thousands) |
Executive Search |  |  |  |  |  |  |  |  |  |  |  |
North America |  | $ | — |  |  | $ | 5 |  |  | $ | 5 |
EMEA |  |  | 1,533 |  |  |  | 23 |  |  |  | 1,556 |
Asia Pacific |  |  | 33 |  |  |  | — |  |  |  | 33 |
Total Executive Search |  |  | 1,566 |  |  |  | 28 |  |  |  | 1,594 |
Hay Group |  |  | 3,727 |  |  |  | 396 |  |  |  | 4,123 |
Futurestep |  |  | — |  |  |  | 245 |  |  |  | 245 |
Liability as of April 30, 2016 |  | $ | 5,293 |  |  | $ | 669 |  |  | $ | 5,962 |

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- Definition The entire disclosure for restructuring and related activities. Description of 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 Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4) -URI http://asc.fasb.org/extlink&oid=27011515&loc=d3e140904-122747 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 5.P.3) -URI http://asc.fasb.org/extlink&oid=27011515&loc=d3e140864-122747 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 + Details
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