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Restructuring and Related Charges | 6 Months Ended
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Dec. 31, 2016
Restructuring Charges [Abstract] |
RESTRUCTURING AND RELATED CHARGES | RESTRUCTURING AND RELATED CHARGES We are implementing restructuring actions to streamline the Company's cost structure. These initiatives are expected to improve the alignment of our cost structure with the current operating environment through headcount reductions; as well as rationalization and consolidation of certain manufacturing facilities. These restructuring actions are expected to be completed by December of fiscal 2019 and are anticipated to be mostly cash expenditures. The total pre-tax charges for these programs are expected to be in the range of $155 million to $175 million, which is expected to be approximately 60 percent Industrial, 5 percent Widia, 30 percent Infrastructure and 5 percent Corporate. Total restructuring and related charges since inception of $114.9 million have been recorded for these programs through December 31, 2016: $60.3 million in Industrial, $36.7 million in Infrastructure, $10.6 million in Widia and $7.3 million in Corporate. We have recorded restructuring and related charges of $11.8 million and $8.9 million for the three months ended December 31, 2016 and 2015, respectively. Of these amounts, restructuring charges totaled $8.8 million and $3.5 million, of which expense of $0.3 million and benefits of $0.3 million were related to inventory and were recorded in cost of goods sold, respectively. Restructuring-related charges of $2.1 million and $2.0 million were recorded in cost of goods sold and $0.9 million and $3.4 million in operating expense for the three months ended December 31, 2016 and 2015, respectively. We have recorded restructuring and related charges of $43.4 million and $24.0 million for the six months ended December 31, 2016 and 2015, respectively. Of these amounts, restructuring charges totaled $37.3 million and $12.6 million, of which expense of $0.3 million and benefits of $0.3 million were related to inventory and were recorded in cost of goods sold, respectively. Restructuring-related charges of $4.1 million and $3.6 million were recorded in cost of goods sold and $2.0 million and $7.8 million in operating expense for the six months ended December 31, 2016 and 2015, respectively. As of December 31, 2016, $16.1 million and $3.0 million of the restructuring accrual is recorded in other current liabilities and other liabilities, respectively, in our condensed consolidated balance sheet. The restructuring accrual of $15.7 million as of June 30, 2016 is recorded in other current liabilities. The amount attributable to each segment is as follows:
(in thousands) | June 30, 2016 |  | Expense |  | Asset Write-Down |  | Translation |  | Cash Expenditures |  | December 31, 2016
Industrial |  |  |  |  |  |  |  |  |  |  |
Severance | $ | 8,180 |  |  | $ | 21,270 |  |  | $ | — |  |  | $ | (412 | ) |  | $ | (18,324 | ) |  | $ | 10,714 |
Facilities | — |  |  | 100 |  |  | (100 | ) |  | — |  |  | — |  |  | — |
Other | 809 |  |  | (72 | ) |  | — |  |  | (10 | ) |  | (477 | ) |  | 250 |
Total Industrial | $ | 8,989 |  |  | $ | 21,298 |  |  | $ | (100 | ) |  | $ | (422 | ) |  | $ | (18,801 | ) |  | $ | 10,964 |
Widia |  |  |  |  |  |  |  |  |  |  |
Severance | $ | 909 |  |  | $ | 4,504 |  |  | $ | — |  |  | $ | (87 | ) |  | $ | (3,880 | ) |  | $ | 1,446 |
Facilities | — |  |  | 9 |  |  | (9 | ) |  | — |  |  | — |  |  | — |
Other | 90 |  |  | (15 | ) |  | — |  |  | (3 | ) |  | (72 | ) |  | — |
Total Widia | 999 |  |  | 4,498 |  |  | (9 | ) |  | (90 | ) |  | (3,952 | ) |  | 1,446 |
Infrastructure |  |  |  |  |  |  |  |  |  |  |
Severance | $ | 5,301 |  |  | $ | 10,620 |  |  | $ | — |  |  | $ | (205 | ) |  | $ | (9,148 | ) |  | $ | 6,568 |
Facilities | 33 |  |  | 967 |  |  | (967 | ) |  | — |  |  | — |  |  | 33 |
Other | 381 |  |  | (36 | ) |  | — |  |  | (7 | ) |  | (245 | ) |  | 93 |
Total Infrastructure | $ | 5,715 |  |  | $ | 11,551 |  |  | $ | (967 | ) |  | $ | (212 | ) |  | $ | (9,393 | ) |  | $ | 6,694 |
Total | $ | 15,703 |  |  | $ | 37,347 |  |  | $ | (1,076 | ) |  | $ | (724 | ) |  | $ | (32,146 | ) |  | $ | 19,104 |

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- Definition The entire disclosure of costs incurred for restructuring including, but not limited to, exit and disposal activities, remediation, implementation, integration, asset impairment, and charges against earnings from the write-down of assets. + References No definition available. + Details
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