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Restructuring and Related Charges | 9 Months Ended
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Mar. 31, 2018
Restructuring Charges [Abstract] |
RESTRUCTURING AND RELATED CHARGES | RESTRUCTURING AND RELATED CHARGES In prior years, we implemented restructuring actions` to streamline the Company's cost structure. The purpose of these initiatives was to improve the alignment of our cost structure with the current operating environment through employee reductions, as well as rationalization and consolidation of certain manufacturing facilities. These restructuring actions were substantially completed in the first quarter of fiscal 2018 and were mainly cash expenditures. Total restructuring and related charges since inception of $157.7 million have been recorded for these programs through March 31, 2018: $85.6 million in Industrial, $50.9 million in Infrastructure, $13.9 million in Widia and $7.3 million in Corporate. We recorded restructuring and related charges of $1.7 million and $9.6 million for the three months ended March 31, 2018 and 2017, respectively. Of these amounts, restructuring charges totaled $1.1 million and $7.1 million for the three months ended March 31, 2018 and 2017, respectively, of which benefit of $0.2 million was related to inventory and was recorded in cost of goods sold for the three months ended March 31, 2018. Restructuring-related charges of $0.9 million and $1.7 million were recorded in cost of goods sold and $0.3 million of benefit and $0.8 million of expense were recorded in operating expense for the three months ended March 31, 2018 and 2017, respectively. We recorded restructuring and related charges of $10.0 million and $53.1 million for the nine months ended March 31, 2018 and 2017, respectively. Of these amounts, restructuring charges totaled $6.7 million and $44.5 million, of which benefit of $0.2 million and expense of $0.3 million were related to inventory and were recorded in cost of goods sold for the nine months ended March 31, 2018 and 2017, respectively. Restructuring-related charges of $3.3 million and $5.8 million were recorded in cost of goods sold and $0.1 million and $2.8 million in operating expense for the nine months ended March 31, 2018 and 2017, respectively. As of March 31, 2018 and June 30, 2017, property, plant, and equipment of $5.8 million and $7.0 million, respectively, for certain closed manufacturing locations that are part of our restructuring programs met held for sale criteria. We expect to sell these assets within one year from the balance sheet date. These assets are recorded at the lower of carrying amount or fair value less cost to sell. We have also ceased depreciating these assets. As of March 31, 2018 and June 30, 2017, $11.8 million and $27.3 million of the restructuring accrual is recorded in other current liabilities and $0.5 million and $2.5 million is recorded in other liabilities, respectively, in our condensed consolidated balance sheet. The amount attributable to each segment is as follows:
(in thousands) | June 30, 2017 |  | Expense |  | Asset Write-Down |  | Translation |  | Cash Expenditures |  | March 31, 2018
Industrial |  |  |  |  |  |  |  |  |  |  |
Severance | $ | 17,639 |  |  | $ | 1,804 |  |  | $ | — |  |  | $ | 1,171 |  |  | $ | (15,099 | ) |  | $ | 5,515 |
Facilities | — |  |  | 3,084 |  |  | (3,084 | ) |  | — |  |  | — |  |  | — |
Other | 94 |  |  | (29 | ) |  | — |  |  | 3 |  |  | (38 | ) |  | 30 |
Total Industrial | $ | 17,733 |  |  | $ | 4,859 |  |  | $ | (3,084 | ) |  | $ | 1,174 |  |  | $ | (15,137 | ) |  | $ | 5,545 |
Widia |  |  |  |  |  |  |  |  |  |  |
Severance | $ | 2,434 |  |  | $ | 384 |  |  | $ | — |  |  | $ | 249 |  |  | $ | (3,067 | ) |  | $ | — |
Facilities | — |  |  | 747 |  |  | (747 | ) |  | — |  |  | — |  |  | — |
Other | — |  |  | (6 | ) |  | — |  |  | 1 |  |  | 8 |  |  | 3 |
Total Widia | $ | 2,434 |  |  | $ | 1,125 |  |  | $ | (747 | ) |  | $ | 250 |  |  | $ | (3,059 | ) |  | $ | 3 |
Infrastructure |  |  |  |  |  |  |  |  |  |  |
Severance | $ | 9,573 |  |  | $ | 422 |  |  | $ | — |  |  | $ | 273 |  |  | $ | (3,501 | ) |  | $ | 6,767 |
Facilities | 21 |  |  | 265 |  |  | (265 | ) |  | — |  |  | (21 | ) |  | — |
Other | 45 |  |  | (7 | ) |  | — |  |  | — |  |  | (21 | ) |  | 17 |
Total Infrastructure | $ | 9,639 |  |  | $ | 680 |  |  | $ | (265 | ) |  | $ | 273 |  |  | $ | (3,543 | ) |  | $ | 6,784 |
Total | $ | 29,806 |  |  | $ | 6,664 |  |  | $ | (4,096 | ) |  | $ | 1,697 |  |  | $ | (21,739 | ) |  | $ | 12,332 |

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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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