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Restructuring Charges, Net of Reversals and Impairment, and Related Charges | 6 Months Ended
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Dec. 31, 2020
Restructuring And Related Activities [Abstract] |
Restructuring Charges, net of reversals, impairment, and related charges |
14. | Restructuring Charges, Net of Reversals, Impairment, and Related Charges.
The Company recorded $0.7 million and $1.7 million of restructuring charges, net of reversals and impairments during the three and six months ended December 31, 2020, respectively. Total restructuring charges included severance, benefits, and equipment relocation charges of $0.4 million and $1.1 million, as well as facility related charges of $0.3 million and $0.6 million for the three and six months ended December 31, 2020, respectively. Severance and benefit restructuring charges consisted primarily of additional employee severance and benefit expenses incurred under the reduction-in-force action initiated in the third quarter of fiscal 2020 (the “2020 Plan”) to reduce operating costs and enhance financial flexibility as a result of disruptions caused by the COVID-19 global pandemic. With the reduction and realignment of the headcount under the 2020 Plan, the Company is relocating certain of its lab test equipment to third-party consulting companies. The Company has incurred $9.2 million of charges under the 2020 Plan through December 31, 2020. The Company expects to incur additional equipment related relocation expenses of $0.8 million and expects to substantially complete these activities by the first half of fiscal 2022. The facility restructuring charges included additional facilities expenses related to previously impaired facilities. The Company recorded $6.6 million and $12.8 million of restructuring charges, net of reversals and impairment during the three and six months ended December 31, 2019, respectively. The charges included $3.9 million and $7.9 million, respectively, for the impairment of right-of-use assets related to facilities which the Company has exited, and $2.7 million and $4.9 million, respectively for and employee severance and benefit expenses incurred under the Company’s restructuring plans initiated in prior years which were completed as of the end of fiscal 2020. Restructuring liabilities related to severance, benefits, and equipment relocation obligations are recorded in “Other accrued liabilities” in the accompanying condensed consolidated balance sheets. The following table summarizes the activity related to the severance, benefits, and equipment relocation liabilities during the three and six months ended December 31, 2020 (in thousands):
|  | Three Months Ended |  |  | Six Months Ended |
|  | December 31, 2020 |  |  | December 31, 2019 |  |  | December 31, 2020 |  |  | December 31, 2019 |
|  | Severance and Other |  |  | Severance and Other |
Balance at beginning of period |  | $ | 302 |  |  | $ | 2,137 |  |  | $ | 2,219 |  |  | $ | 3,559 |
Period charges |  |  | 475 |  |  |  | 3,284 |  |  |  | 1,247 |  |  |  | 5,879 |
Period reversals |  |  | (78 | ) |  |  | (596 | ) |  |  | (128 | ) |  |  | (1,005 | )
Period payments |  |  | (518 | ) |  |  | (3,957 | ) |  |  | (3,157 | ) |  |  | (7,565 | )
Balance at end of period |  | $ | 181 |  |  | $ | 868 |  |  | $ | 181 |  |  | $ | 868 |

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- References No definition available. + Details
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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -URI http://asc.fasb.org/topic&trid=2175745 + Details
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