Schedule of Activity in Restructuring |
The components of the restructuring charges are as follows:
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Three Months Ended September |
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Six Months Ended September |
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(In thousands) |
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2022 |
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2021 |
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2022 |
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2021 |
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Severance and employee-related benefits |
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$ |
37,464Ìý |
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$ |
1,422Ìý |
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$ |
39,558Ìý |
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$ |
4,296Ìý |
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Accelerated depreciation |
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3,583Ìý |
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2,036Ìý |
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7,251Ìý |
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3,467Ìý |
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Contract termination and other |
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4,759Ìý |
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—Ìý |
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5,103Ìý |
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—Ìý |
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Total restructuring charges |
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$ |
45,806Ìý
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$ |
3,458Ìý
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$ |
51,912Ìý
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$ |
7,763Ìý
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Restructuring costs by business segment are as follows:
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Three Months Ended September |
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Six Months Ended September |
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(In thousands) |
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2022 |
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2021 |
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2022 |
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2021 |
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Outdoor |
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$ |
496Ìý |
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$ |
454Ìý |
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$ |
496Ìý |
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$ |
2,677Ìý |
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Active |
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1,478Ìý |
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276Ìý |
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1,478Ìý |
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1,008Ìý |
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Work |
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9Ìý |
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788Ìý |
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9Ìý |
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788Ìý |
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Corporate and other |
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43,823Ìý |
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1,940Ìý |
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49,929Ìý |
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3,290Ìý |
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Total |
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$ |
45,806Ìý
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$ |
3,458Ìý
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$ |
51,912Ìý
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$ |
7,763Ìý
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The activity in the restructuring accrual for the six-month period ended September 2022 was as follows:
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(In thousands) |
Severance |
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Other |
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Total |
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Accrual at March 2022 |
$ |
25,640Ìý
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$ |
1,211Ìý
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$ |
26,851Ìý
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Charges |
39,558Ìý |
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5,103Ìý |
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44,661Ìý |
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Cash payments and settlements |
(17,938) |
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(84) |
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(18,022) |
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Adjustments to accruals |
(2,777) |
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53Ìý |
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(2,724) |
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Impact of foreign currency |
(260) |
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(140) |
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(400) |
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Accrual at September 2022 |
$ |
44,223Ìý
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$ |
6,143Ìý
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$ |
50,366Ìý
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