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Restructuring and Related Charges

12 Months Ended

Jul. 03, 2021

Restructuring and Related Activities [Abstract]

Restructuring and Related Charges

Note 13. Restructuring and Related Charges

The Company's restructuring events are primarily intended to reduce costs, consolidate operations, streamline product manufacturing and address market conditions. During fiscal year 2021, the Company recorded a benefit related to restructuring actions of $1.6 million, and in fiscal years 2020 and 2019, restructuring and related charges of $3.5 million and $15.4 million, respectively. A summary of the activity in the remaining restructuring plan is outlined below (in millions):

			Balance as of June 27, 2020						Fiscal Year 2021 Charges						Cash Settlements						Non-cash Settlements and Other Adjustments						Balance as of July 3, 2021
Fiscal 2019 NSE, including AW			$	6.5					$	(1.6)					$	(4.3)					$	(0.1)					$	0.5

The NSE, including AW Restructuring Plan was approved by Management during the first quarter of fiscal 2019. The plan is part of a strategy to improve overall profitability in the NSE business segment and included actions related to consolidation, integration and workforce reduction. The plan was re-approved in the third quarter of fiscal 2019 and the fourth quarter of fiscal 2020 to include additional headcount. The balances of $0.5 million and $6.5 million as of July 3, 2021 and June 27, 2020, respectively, are included in other current liabilities on the Consolidated Balance Sheets. Payments related to the remaining severance and benefits accrual will be paid in fiscal 2022.

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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
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-Name Accounting Standards Codification
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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
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-Section 50
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
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-Section 50
-Paragraph 1
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