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Restructuring Costs | 12 Months Ended
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Jun. 30, 2021
Restructuring and Related Activities [Abstract] |
Restructuring and Related Activities Disclosure [Text Block] | Restructuring Costs During the third quarter of fiscal 2020, we initiated a business improvement plan to increase profitability and reduce our cost structure related to: •our strategic initiative to exit the domestic iron and steel industry; •the implementation of business improvements in the power delivery portion of the Utility and Power Infrastructure segment; and •the decline in revenue caused by the ongoing effects of the COVID-19 pandemic and related market disruptions. The business improvement plan consists of discretionary cost reductions, workforce reductions, reduction of capital expenditures and the reduction in size or closure of certain offices in order to increase the utilization of our staff and bring the cost structure of the business in line with revenue volume. We incurred $14.0 million of restructuring costs during fiscal 2020 and $6.8 million during fiscal 2021. The restructuring costs consist primarily of severance costs, facility closure costs, lease and fixed asset impairments, other intangible asset impairments and other liabilities as a result of exiting certain operations. In fiscal 2021, we engaged a third party consultant to help us perform a strategic review of our end markets in support of updating our business strategy and to ensure that our organizational structure is properly designed to support our updated strategy. Based on the preliminary results of this review, we believe there are opportunities for us to be more competitive, which will require organizational and process changes and will likely result in additional restructuring costs. We expect to substantially complete this initiative in fiscal 2022. Restructuring costs incurred are classified as follows:
|  | Fiscal Year Ended June 30, 2021 |  | Since Inception of Business Improvement Plan
|  | (in thousands)
Utility and Power Infrastructure |  |  |  |
Severance and other personnel-related costs |  | $ | 1,199 |  |  | $ | 2,539 |
Facility costs |  | 113 |  |  | 348 |
Other intangible asset impairments |  | — |  |  | 1,150 |
Total Utility and Power Infrastructure |  | $ | 1,312 |  |  | $ | 4,037 |
Process and Industrial Facilities |  |  |  |
Severance and other personnel-related costs |  | $ | 2,951 |  |  | $ | 9,118 |
Facility costs |  | 431 |  |  | 3,188 |
Other intangible asset impairments |  | — |  |  | 375 |
Other costs |  | 426 |  |  | 426 |
Total Process and Industrial Facilities |  | $ | 3,808 |  |  | $ | 13,107 |
Storage and Terminal Solutions |  |  |  |
Severance and other personnel-related costs |  | $ | 1,231 |  |  | $ | 1,578 |
Facility costs |  | 159 |  |  | 879 |
Total Storage and Terminal Solutions |  | $ | 1,390 |  |  | $ | 2,457 |
Corporate |  |  |  |
Severance and other personnel-related costs |  | $ | 164 |  |  | $ | 1,083 |
Facility costs |  | 82 |  |  | 82 |
Other intangible asset impairments |  | — |  |  | — |
Total Corporate |  | $ | 246 |  |  | $ | 1,165 |
Total restructuring costs |  | $ | 6,756 |  |  | $ | 20,766 |
Restructuring Costs by Type: |  |  |  |
Severance and other personnel-related costs |  | $ | 5,545 |  |  | $ | 14,318 |
Total facility costs |  | 785 |  |  | 4,497 |
Total other intangible asset impairments |  | — |  |  | 1,525 |
Other costs |  | 426 |  |  | 426 |
Total restructuring costs |  | $ | 6,756 |  |  | $ | 20,766 |
The restructuring reserve is included in other accrued expenses and other liabilities in the Consolidated Balance Sheets. The table below is a reconciliation of the beginning and ending restructuring reserve balance (in thousands):
Balance as of June 30, 2020 |  | $ | 2,403 |
Restructuring costs incurred |  | 4,026 |
Cash payments |  | (3,484) |
Adjustment to liability |  | (510) |
Balance as of June 30, 2021 |  | $ | 2,435 |

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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://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4(e)) -URI http://asc.fasb.org/extlink&oid=115931487&loc=d3e140904-122747 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -URI http://asc.fasb.org/topic&trid=2175745 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b)(2) -URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 + Details
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