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Restructuring | 9 Months Ended
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Mar. 31, 2022
Restructuring and Related Activities [Abstract] |
Restructuring | Restructuring On February 1, 2022, following the Company’s prior disclosure regarding market factors impacting the business, the Company’s Board of Directors approved a restructuring plan to realign the Company’s operational focus to support its multi-year growth, scale the business, and improve costs (the “Restructuring Plan”). The Restructuring Plan includes: (i) reducing the Company’s headcount; (ii) closing several assembly and manufacturing plants, including the completion and subsequent sale of the shell facility for the Company’s previously planned Peloton Output Park; (iii) closing and consolidating several distribution facilities, and (iv) shifting to third-party logistics providers in certain locations. The Company expects the Restructuring Plan to be substantially implemented by the end of fiscal 2024. As a result of the Restructuring Plan, the Company incurred the following charges, of which Asset write-downs and write-offs are included within Impairment expense and loss on disposals in the condensed consolidated statements of operations and comprehensive (loss) income. The remaining charges incurred due to the restructuring plan are included within Restructuring expense in the condensed consolidated statements of operations and comprehensive (loss) income:
| Three Months Ended March 31, |  | Nine Months Ended March 31,
| 2022 |  | 2022
Cash restructuring charges: | (in millions)
Severance and other personnel costs | $ | 99.4 |  |  | $ | 99.4 |
Professional fees and other related charges | 14.3 |  |  | 14.3 |
Total cash charges | 113.7 |  |  | 113.7 |
Non-cash charges: |  |  |
Asset write-downs and write-offs | 27.4 |  |  | 27.4 |
Stock-based compensation expense | 44.9 |  |  | 44.9 |
Total non-cash charges | 72.3 |  |  | 72.3 |
Total | $ | 186.0 |  |  | $ | 186.0 |
In connection with the Restructuring Plan, the Company committed to the closures of certain warehouse and retail locations, the discontinuation of manufacturing in North America, and the wind down of certain software implementation and development projects. Due to the actions taken the Company tested certain fixed assets for recoverability by comparing the carrying value of the asset group to an estimate of the future undiscounted cash flows which was generally the liquidation value. Based on the results of the recoverability test, the Company determined that as of March 31, 2022, the undiscounted cash flows of the asset groups were below the carrying values, indicating impairment. The assets were written down to their estimated fair value, which was determined based on their expected liquidation value. The following table presents a roll-forward of cash restructuring-related liabilities, which is included within Accounts payable and accrued expenses in the condensed consolidated balance sheets, as follows:
| Severance and other personnel costs |  | Professional fees and other related charges |  | Total
| (in millions)
Balance as of June 30, 2021 | $ | — |  |  | $ | — |  |  | $ | — |
Charges | 99.4 |  |  | 14.3 |  |  | 113.7 |
Cash payments | (73.3) |  |  | (14.3) |  |  | (87.6) |
Balance as of March 31, 2022 | $ | 26.1 |  |  | $ | — |  |  | $ | 26.1 |
In addition to the above charges, the Company incurred approximately $84.0 million of capital expenditures related to Peloton Output Park since project inception.

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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/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4(e)) -URI http://asc.fasb.org/extlink&oid=115931487&loc=d3e140904-122747 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -URI http://asc.fasb.org/topic&trid=2175745 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b)(2) -URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 + Details
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