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Restructuring Charges

9 Months Ended

Mar. 31, 2019

Restructuring and Related Activities [Abstract]

Restructuring Charges

Restructuring Charges

Restructuring costs include one-time employee termination benefits, acceleration of share-based compensation, write-off of assets and other related costs including third-party professional and outplacement services. During the three and nine months ended March 31, 2019, we recognized restructuring charges of $7,866 and $9,062, respectively, primarily related to a restructuring action within our Vistaprint business. The Vistaprint action included changes to the leadership team, as well as other reductions in headcount and associated costs. We expect to recognize additional restructuring charges during the fourth quarter of fiscal 2019 for employees that have been retained and will continue to provide service during the transition period.

During the three and nine months ended March 31, 2018, we recognized restructuring charges of $2,331 and $14,686, respectively, which primarily related to Vistaprint's November 2017 restructuring action.

The following table summarizes the restructuring activity during the nine months ended March 31, 2019:

	Severance and Related Benefits				Other Restructuring Costs				Total
Accrued restructuring liability as of June 30, 2018	$	1,385			$	2			$	1,387
Restructuring charges (1)	8,758				304				9,062
Cash payments	(4,749		)		(27		)		(4,776		)
Non-cash charges (2)	(3,250		)		(279		)		(3,529		)
Accrued restructuring liability as of March 31, 2019	$	2,144			$	—			$	2,144

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(1) During the three and nine months ended March 31, 2019, Vistaprint recognized restructuring charges of $7,225 and $7,539, respectively, related primarily to the action discussed above. All Other Businesses incurred immaterial restructuring charges of $630 and $731, respectively. Upload and Print recognized restructuring charges of $593 for the nine months ended March 31, 2019, related to an immaterial action during the second quarter of fiscal 2019. For the three and nine months ended March 31, 2019, our Central and Corporate cost center incurred restructuring charges of $11 and $199, respectively, related to a prior year action.

(2) Non-cash charges primarily include acceleration of share-based compensation expenses.

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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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-URI http://asc.fasb.org/topic&trid=2175745

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