XML 34 R23.htm IDEA: XBRL DOCUMENT v3.24.3
Restructuring Activities
3 Months Ended
Sep. 28, 2024
Restructuring and Related Activities [Abstract]  
Restructuring Activities Restructuring Activities
In the first quarter of fiscal 2025, we initiated restructuring actions primarily intended to focus on key growth initiatives, reduce costs and align our business in response to market conditions. As a result of this restructuring, we expect to incur approximately $16.0 million in restructuring charges and expect to complete the restructuring by the end of fiscal 2025. The restructuring costs related to these activities of approximately $13.7 million are recorded in the restructuring costs line item within our condensed consolidated statements of operations.
In the first and fourth quarter of fiscal 2024, we initiated restructuring actions to further improve efficiencies in our operational activities, decrease costs and increase profitability. We completed the restructuring action from the first quarter of fiscal 2024 prior to the end of our fiscal year 2024. We completed the restructuring action initiated in the fourth quarter of fiscal 2024 during the three months ended September 2024 and we incurred restructuring charges therefrom of approximately $0.5 million. The restructuring costs related to these activities were recorded to the restructuring costs line item within our condensed consolidated statements of operations.
The following table summarizes the restructuring activity and related charges during the periods presented (in millions):
Three months ended
September 2024
20242023
Balance, beginning of period$1.4 $— 
Charges14.2 8.0 
Payments(10.6)(6.0)
Balance, end of period$5.0 $2.0 
During the three months ended September 2024, the restructuring and related charges of $14.2 million was primarily attributable to severance and employee-related benefits.