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Business Realignment Expenses

12 Months Ended

Sep. 30, 2019

Restructuring and Related Activities [Abstract]

Business Realignment Expenses

Business Realignment Expenses

Business realignment expenses are associated with management changes, exiting certain businesses, or other cost saving actions, and include employee severance and benefit costs associated with terminations, occupancy costs associated the ceased use of facilities, and other related costs, such as impairments. Business realignment expenses are recorded as a component of Other operating expenses on the Consolidated Statements of Operations.

For the year ended September 30, 2019, business realignment expenses were incurred related to: management changes associated with a strategic reorganization of the Company's go-to-market strategy for self-directed and fully-managed market place services, the conclusion of the Scrap contract, and other cost saving actions.

For the year ended September 30, 2018, business realignment expenses were incurred related to: cost saving actions in the CAG segment and Corporate IT department. These actions were partially offset by an adjustment to reduce the liability associated with the ceased use of the Company's previous headquarters location in Washington D.C. that was initially recognized during the year ended September 30, 2017.

For the year ended September 30, 2017, business realignment expenses were incurred related to: the ceased use of the Company's previous headquarters location in Washington D.C., the exit of the TruckCenter land-base, live action and retail business, cost saving actions in the CAG segment and IronDirect business, including a related onerous contract and impairment charges.

The table below sets forth the significant components and activity in the liability for business realignment initiatives during the year ended September 30, 2019, on a segment and consolidated basis:

(in thousands)						Liability Balance at September 30, 2017						Business Realignment Expenses						Cash Payments						Liability Balance at September 30, 2018						Business Realignment Expenses						Cash Payments						Liability Balance at September 30, 2019
Employee severance and benefit costs:
CAG						$	793					$	979					$	(1,683)					$	89					$	443					$	(118)					$	414
Corporate & Other						399						472						(850)						21						1,537						(1,320)						238
Total employee severance and benefit costs						$	1,192					$	1,451					$	(2,533)					$	110					$	1,980					$	(1,438)					$	652
Occupancy and other costs:
CAG						—						739						(280)						459						51						(341)						169
Corporate & Other						1,988						(248)						(933)						807						134						(941)						—
Total occupancy and other costs						$	1,988					$	491					$	(1,213)					$	1,266					$	185					$	(1,282)					$	169
Total business realignment						$	3,180					$	1,942					$	(3,746)					$	1,376					$	2,165					$	(2,720)					$	821

The Company expects that the majority of the remaining liability balance at September 30, 2019 will be paid during fiscal 2020.

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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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