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Restructuring and related charges | 9 Months Ended
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Dec. 31, 2024
Restructuring and Related Activities [Abstract] |
RESTRUCTURING AND RELATED CHARGES | RESTRUCTURING AND RELATED CHARGES On May 15, 2024, the Company's Board of Directors approved a restructuring plan (the "2025 restructuring plan") designed to strengthen and support the Company's financial and operational efficiencies. On September 5, 2024, the Company’s Board of Directors approved a $70 million increase to the 2025 restructuring plan, resulting in an updated restructuring plan of approximately $140 million to $160 million of pre-tax restructuring and related charges to be incurred during Fiscal 2025 and the fiscal year ending March 31, 2026 ("Fiscal 2026"), including: •Up to $75 million in cash-related charges, consisting of approximately $30 million in employee severance and benefits costs and $45 million related to various transformational initiatives; and •Up to $85 million in non-cash charges, including approximately $7 million in employee severance and benefits costs and $78 million in facility, software, and other asset-related charges and impairments. Restructuring and related charges are included in the Company's Corporate Other segment. The costs recorded during the three and nine months ended December 31, 2024 were primarily North America related. The summary of these costs, as well as the Company's current estimates of the remaining amount expected to be incurred in connection with the 2025 restructuring plan is as follows:
|  |  |  |  | Estimated Restructuring and Related Charges (1)
| Three Months Ended December 31, 2024 |  | Nine Months Ended December 31, 2024 |  | Remaining to be incurred |  | Total to be incurred under plan
Costs recorded in restructuring charges: |  |  |  |  |  |  |
Employee-related costs | $ | 1,584 |  |  | $ | 13,322 |  |  |  |  |
Facility-related costs | 5,706 |  |  | 18,201 |  |  |  |  |
Other restructuring costs | 6,655 |  |  | 10,720 |  |  |  |  |
Total costs recorded in restructuring charges | $ | 13,945 |  |  | $ | 42,243 |  |  | $ | 67,757 |  |  | $ | 110,000 |
Costs recorded in selling, general and administrative expenses: |  |  |  |  |  |  |
Employee related costs | — |  |  | 9,460 |  |  |  |  |
Other transformation initiatives | 3,819 |  |  | 5,740 |  |  |  |  |
Total costs recorded in selling, general and administrative expenses | $ | 3,819 |  |  | $ | 15,200 |  |  | $ | 34,800 |  |  | $ | 50,000 |
Total restructuring and related charges | $ | 17,764 |  |  | $ | 57,443 |  |  | $ | 102,557 |  |  | $ | 160,000 |
(1) Estimated restructuring and related charges reflect the high-end of the range of the total estimated charges expected to be incurred by the Company in connection with the 2025 restructuring plan. Restructuring and related charges and recoveries require the Company to make certain judgments and estimates regarding the amount and timing as to when these charges or recoveries occur. The estimated liability could change subsequent to its recognition, requiring adjustments to the expense and the liability recorded. The restructuring reserve is recorded within current and long-term liabilities on the Condensed Consolidated Balance Sheets. On a quarterly basis, the Company conducts an evaluation of the related liabilities and expenses and revises its assumptions and estimates as appropriate, as new or updated information becomes available. A summary of the activity in the restructuring reserve related to the Company's 2025 restructuring plan for the nine months ended December 31, 2024 is as follows:
| Employee Related Costs |  | Facility Related Costs |  | Other Restructuring Related Costs
Balance as of March 31, 2024 | $ | — |  |  | $ | — |  |  | $ | — |
Net additions (recoveries) charged to expense (1) | 13,311 |  |  | 5,800 |  |  | 12,908 |
Cash payments | (10,827) |  |  | (5,800) |  |  | (7,725) |
Foreign exchange and other | 45 |  |  | — |  |  | — |
Balance as of December 31, 2024 | $ | 2,529 |  |  | $ | — |  |  | $ | 5,183 |
(1) Amount excludes approximately $15.5 million of non-cash facility-related and other charges and a $5.3 million non-cash gain from the sale of the MapMyFitness platform.

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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/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4.e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479823/420-10-S99-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/420/tableOfContent Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 + Details
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