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Restructuring Costs (Notes) | 9 Months Ended
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Mar. 31, 2020
Restructuring and Related Activities [Abstract] |
Restructuring Costs | Restructuring Costs In February 2020, the Company announced a business improvement plan related to its strategic initiatives to exit the domestic iron and steel industry and to implement business improvements in the Electrical Infrastructure segment. Planned activities under the business improvement plan have been expanded due to lower revenue expectations for the remainder of fiscal 2020 and fiscal 2021 following the uncertainties caused by the COVID-19 pandemic and the significant decline in the price of crude oil, both of which began during the third quarter. The business improvement plan consists of discretionary cost reductions, workforce reductions and closures of certain offices in order to increase the utilization of the Company's staff and bring the cost structure of the business in line with the near-term expectation of lower revenue. The restructuring costs are primarily comprised of severance and personnel-related costs related to reductions in workforce and impairments of operating lease right-of-use assets and other fixed assets related to the closure of certain office spaces. The Company incurred $6.6 million of restructuring costs during the three months ended March 31, 2020 and expects to incur an additional $4.0 to $6.0 million of restructuring costs related to activities planned during the fourth quarter of fiscal 2020. Restructuring costs incurred are classified as follows:
|  | Three Months Ended March 31, 2020
|  | (in thousands)
Electrical Infrastructure |  |
Severance costs and other benefits |  | $ | 811 |
Facility costs |  | 303 |
Total Electrical Infrastructure |  | $ | 1,114 |
Oil Gas & Chemical |  |
Severance costs and other benefits |  | $ | 635 |
Facility costs |  | 774 |
Total Oil Gas & Chemical |  | $ | 1,409 |
Storage Solutions |  |
Severance costs and other benefits |  | $ | 225 |
Facility costs |  | 775 |
Total Storage Solutions |  | $ | 1,000 |
Industrial |  |
Severance costs and other benefits |  | $ | 2,230 |
Facility costs |  | 806 |
Total Industrial |  | $ | 3,036 |
Total restructuring costs |  | $ | 6,559 |
Restructuring Costs by Type: |  |
Total severance costs and other benefits |  | $ | 3,901 |
Total facility costs |  | 2,658 |
Total restructuring costs |  | $ | 6,559 |
The table below is a reconciliation of the beginning and ending restructuring reserve balance (in thousands):
Balance as of December 31, 2019 |  | $ | — |
Restructuring costs incurred |  | 6,559 |
Non-cash restructuring costs(1) |  | (2,660 | )
Cash payments |  | (2,963 | )
Balance as of March 31, 2020 |  | $ | 936 |
(1) Non-cash restructuring costs consisted of impairments of operating lease right-of-use assets and other fixed asset impairments related to the closure of certain leased office spaces.

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- References No definition available. + Details
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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 + Details
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