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Restructuring Costs | 6 Months Ended
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Nov. 24, 2024
Restructuring and Related Activities [Abstract] |
Restructuring Costs | Restructuring Costs During fiscal year 2020, the Company commenced a multi-year restructuring plan to improve profitability and to redesign the organization to focus on strategic assets so that it could compete and thrive as a standalone public CDMO business. We expect to finish incurring expenses under this plan by the end of fiscal year 2025. Types of costs associated with this plan include: (i) employee termination costs, as a result of multiple reductions-in-force; and (ii) other costs related to the sale of non-strategic assets, including contract termination costs and asset write-offs. These costs are included within selling, general, and administrative costs on the consolidated statements of operations. The following table presents the restructuring expenses incurred during the period:
| Three Months Ended |  | Six Months Ended
| November 24, 2024 |  | November 26, 2023 |  | November 24, 2024 |  | November 26, 2023
Employee termination costs | $ | 396 |  |  | $ | 157 |  |  | $ | 835 |  |  | $ | 139 |
Other costs | 8 |  |  | — |  |  | 52 |  |  | 8 |
Total restructuring costs | $ | 404 |  |  | $ | 157 |  |  | $ | 887 |  |  | $ | 147 |
The following table presents a reconciliation of the beginning and ending restructuring liability balances:
| Employee termination costs |  | Other costs |  | Total
Balance as of May 26, 2024 | $ | 217 |  |  | $ | 4,554 |  |  | $ | 4,771 |
Expense | 835 |  |  | 52 |  |  | 887 |
Payments | (725) |  |  | (58) |  |  | (783) |
Balance as of November 24, 2024 | $ | 327 |  |  | $ | 4,548 |  |  | $ | 4,875 |
The following table presents actual and expected expenses incurred or to be incurred under the plan:
| Incurred through November 24, 2024 |  | Expected remaining costs to be incurred |  | Total expected costs
Employee termination costs | $ | 5,168 |  |  | $ | 513 |  |  | $ | 5,681 |
Other costs | 13,438 |  |  | — |  |  | 13,438 |
Asset write-off costs not included in the restructuring liability | 13,893 |  |  | — |  |  | 13,893 |
Total restructuring costs | $ | 32,499 |  |  | $ | 513 |  |  | $ | 33,012 |

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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 -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4.e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479823/420-10-S99-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/420/tableOfContent Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 + Details
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