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Restructuring Activities Announced June 2016

3 Months Ended

Sep. 30, 2016

Restructuring And Related Activities [Abstract]

Restructuring Activities Announced June 2016

15. Restructuring Activities Announced June 2016

In June 2016, our management approved, committed to and initiated plans to restructure and further improve efficiencies in our operational activities to align the Company’s cost structure consistent with its revenue levels.  Restructuring costs related to the June 2016 restructuring activities were recorded to the restructuring costs line item within our condensed consolidated statements of income.  These costs primarily related to severance costs for a reduction in headcount and facility consolidation and related costs.  The total estimated charges are $11.0 million to $11.5 million for severance costs and $3.5 million to $4.5 million for lease cancellation and related charges.  The remainder of restructuring charges are expected to be recognized in the remainder of fiscal 2017 for severance and related costs, as well as facility consolidation actions.  The restructuring liability activities during the quarter ended September 30, 2016 were as follows (in millions):

		Employee Severance			Facility Consolidation
		and Benefits			and Related Charges			Total
Balance as of June 30, 2016		$	6.7		$	-		$	6.7
Additional accruals			4.5			0.8			5.3
Cash payments			(8.1	)		-			(8.1	)
Non-cash settlements			-			(0.8	)		(0.8	)
Balance as of September 30, 2016		$	3.1		$	-		$	3.1

Since the fourth quarter of 2016, we have incurred a total of $5.3 million in restructuring charges.  These charges include $4.5 million related to employee severance and benefits arrangements and $0.8 million in facility consolidation and related charges.

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- References

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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

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