Schedule of Activity in Restructuring |
The components of the restructuring charges are as follows:
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Three Months Ended December |
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Nine Months Ended December |
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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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$ |
10,607Ìý |
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$ |
3,056Ìý |
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$ |
50,165Ìý |
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$ |
7,352Ìý |
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Accelerated depreciation |
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25Ìý |
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590Ìý |
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7,276Ìý |
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4,057Ìý |
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Contract termination and other |
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460Ìý |
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—Ìý |
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5,563Ìý |
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—Ìý |
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Total restructuring charges |
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$ |
11,092Ìý
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$ |
3,646Ìý
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$ |
63,004Ìý
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$ |
11,409Ìý
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Restructuring costs by business segment are as follows:
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Three Months Ended December |
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Nine Months Ended December |
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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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$ |
391Ìý |
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$ |
1,529Ìý |
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$ |
887Ìý |
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$ |
4,206Ìý |
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Active |
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—Ìý |
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—Ìý |
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1,478Ìý |
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1,008Ìý |
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Work |
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—Ìý |
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1,527Ìý |
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9Ìý |
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2,315Ìý |
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Corporate and other |
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10,701Ìý |
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590Ìý |
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60,630Ìý |
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3,880Ìý |
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Total |
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$ |
11,092Ìý
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$ |
3,646Ìý
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$ |
63,004Ìý
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$ |
11,409Ìý
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The activity in the restructuring accrual for the nine-month period ended December 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 |
50,165Ìý |
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5,563Ìý |
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55,728Ìý |
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Cash payments and settlements |
(30,598) |
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(457) |
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(31,055) |
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Adjustments to accruals |
(3,205) |
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53Ìý |
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(3,152) |
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Impact of foreign currency |
192Ìý |
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363Ìý |
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555Ìý |
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Accrual at December 2022 |
$ |
42,194Ìý
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$ |
6,733Ìý
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$ |
48,927Ìý
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