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Restructuring Activities

12 Months Ended

Jun. 24, 2017

Restructuring And Related Activities [Abstract]

Restructuring Activities

14. Restructuring Activities

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 consolidated statements of income.  These costs primarily related to severance costs for a reduction in headcount and facility consolidation and related costs.  The total charges were $11.7 million for severance costs and $2.3 million for lease cancellation and related charges.  The restructuring charges are complete as of June 30, 2017.  The restructuring liability activities during fiscal 2017 and 2016 were as follows (in millions):

		Employee Severance			Facility Consolidation
		and Benefits			and Related Charges			Total
Balance as of June 30, 2015		$	-		$	-		$	-
Accruals			6.7						6.7
Balance as of June 30, 2016			6.7			-			6.7
Additional accruals			5.0			2.3			7.3
Cash payments			(11.7	)		(0.9	)		(12.6	)
Non-cash settlements			-			(0.8	)		(0.8	)
Balance as of June 30, 2017		$	-		$	0.6		$	0.6

In the first quarter of fiscal 2016, we recorded $1.9 million of restructuring costs in our consolidated statements of income.  The costs included severance costs related to restructuring of the operations related to our acquisition of RSP.  These activities were concluded in fiscal 2016.

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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
-URI http://asc.fasb.org/topic&trid=2175745

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