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Restructuring | 9 Months Ended
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Mar. 27, 2022
Restructuring and Related Activities [Abstract] |
Restructuring | Restructuring The Company has approved various operational plans that include restructuring costs. All restructuring costs are recorded in other operating expense on the consolidated statement of operations. Factory Optimization Restructuring In May 2019, the Company started a significant, multi-year factory optimization plan anchored by a state-of-the-art, automated 200mm capable Silicon Carbide and GaN fabrication facility and a large materials factory at its U.S. campus headquarters in Durham, North Carolina. As part of the plan, the Company will incur restructuring charges associated with the movement of equipment as well as disposals on certain long-lived assets. In September 2019, the Company announced its intent to build a new Silicon Carbide device fabrication facility in Marcy, New York to complement the factory expansion underway at its U.S. campus headquarters in Durham, North Carolina. The Company is currently evaluating the impact of the facility on future restructuring charges. The Company expects approximately $90.0 million in restructuring charges related to the factory optimization plan to be incurred through 2024. For the three and nine months ended March 27, 2022, the Company expensed $0.8 million and $4.2 million, respectively, of restructuring charges associated with the movement of equipment related to the factory optimization plan, of which $1.7 million is accrued for as of March 27, 2022. Additionally, the Company expensed $0.0 million and $1.3 million of restructuring charges associated with disposals of certain long-lived assets for the three and nine months ended March 27, 2022, respectively. For the three and nine months ended March 28, 2021, the Company expensed and paid $1.2 million and $4.3 million, respectively, of restructuring charges associated with the movement of equipment related to the factory optimization plan. Additionally, the Company expensed and paid $2.6 million and $3.4 million of restructuring charges associated with disposals of certain long-lived assets for the three and nine months ended March 28, 2021, respectively. Corporate Restructuring In September 2020, the Company realigned certain resources to further focus on areas vital to its growth while driving efficiencies. As a result, the Company recorded $0.0 million and $2.8 million in severance-related costs during the three and nine months ended March 28, 2021, respectively. The plan has concluded and all expenses were paid as of June 27, 2021. In February 2021, the Company realigned the structure of its Asia sales presence. As a result, the Company recorded $0.6 million in severance-related costs during the three and nine months ended March 28, 2021. The plan has concluded and all expenses were paid as of June 27, 2021. In January 2022, the Company commenced a plan to open a global IT shared services hub in Belfast, Northern Ireland in partnership with the Northern Ireland government. As a result, the Company recorded $0.5 million in severance-related costs for the three and nine months ended March 27, 2022, all of which is accrued for as of March 27, 2022.

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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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