| Restructuring and Related Costs |
The type of cost and respective location of restructuring charges related to Reinvent within ±«ÓãÖ±²¥'s Consolidated Statements of Operations for the years ended March 2025 and 2024, and the cumulative charges recorded since the inception of Reinvent were as follows:
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Year Ended March |
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Cumulative Charges
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| (In thousands) |
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2025 |
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2024 |
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| Type of Cost |
Location |
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| Severance and employee-related benefits |
SG&A expenses |
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$ |
66,002Ìý |
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$ |
64,822Ìý |
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$ |
130,824Ìý |
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| Severance and employee-related benefits |
CostÌýofÌýgoodsÌýsold |
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1,673Ìý |
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4,510Ìý |
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6,183Ìý |
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| Contract termination and other |
SG&A expenses |
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737Ìý |
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—Ìý |
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737Ìý |
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| Contract termination and other |
CostÌýofÌýgoodsÌýsold |
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157Ìý |
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—Ìý |
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157Ìý |
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| Asset impairments and write-downs |
SG&A expenses |
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8,783Ìý |
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39,386Ìý |
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48,169Ìý |
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| Pension withdrawal |
SG&A expenses |
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3,619Ìý |
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—Ìý |
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3,619Ìý |
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| Curtailment gains |
Other income (expense), net |
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(936) |
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—Ìý |
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(936) |
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| Accelerated depreciation |
SG&A expenses |
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1,317Ìý |
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—Ìý |
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1,317Ìý |
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| Accelerated depreciation |
CostÌýofÌýgoodsÌýsold |
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17Ìý |
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—Ìý |
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17Ìý |
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| Total Reinvent Restructuring Charges |
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$ |
81,369Ìý
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$ |
108,718Ìý
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$ |
190,087Ìý
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Year Ended March |
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| (In thousands) |
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2025 |
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2024 |
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2023 |
| Type of Cost |
Location |
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| Severance and employee-related benefits |
SG&A expenses |
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$ |
—Ìý |
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$ |
676Ìý |
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$ |
52,999Ìý |
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| Severance and employee-related benefits |
CostÌýofÌýgoodsÌýsold |
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—Ìý |
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—Ìý |
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3,481Ìý |
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| Accelerated depreciation |
SG&A expenses |
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—Ìý |
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—Ìý |
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6,645Ìý |
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| Accelerated depreciation |
CostÌýofÌýgoodsÌýsold |
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—Ìý |
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—Ìý |
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1,371Ìý |
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| Contract termination and other |
SG&A expenses |
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591Ìý |
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1,326Ìý |
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10,289Ìý |
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| Total Other Restructuring Charges |
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$ |
591Ìý
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$ |
2,002Ìý
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$ |
74,785Ìý
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Other Restructuring Charges by business segment were as follows:
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Year Ended March |
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| (In thousands) |
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2025 |
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2024 |
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2023 |
| Outdoor |
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$ |
—Ìý |
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$ |
242Ìý |
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$ |
1,088Ìý |
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| Active |
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—Ìý |
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434Ìý |
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1,478Ìý |
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| Work |
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—Ìý |
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—Ìý |
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9Ìý |
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| Corporate and other |
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591Ìý |
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1,326Ìý |
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72,210Ìý |
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| Total |
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$ |
591Ìý
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$ |
2,002Ìý
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$ |
74,785Ìý
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| Schedule of Activity in Restructuring Accrual |
The activity in the restructuring accrual related to Reinvent and Other Restructuring Charges was as follows:
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| (In thousands) |
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Severance |
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Other |
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Total |
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| Accrual at March 2023 |
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$ |
37,768Ìý
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$ |
6,545Ìý
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$ |
44,313Ìý
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| Charges |
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70,008Ìý |
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—Ìý |
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70,008Ìý |
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| Cash payments and settlements |
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(41,902) |
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(5,923) |
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(47,825) |
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| Adjustments to accruals |
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(5,660) |
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(287) |
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(5,947) |
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| Impact of foreign currency |
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(54) |
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10Ìý |
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(44) |
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| Accrual at March 2024 |
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60,160Ìý
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345Ìý
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60,505Ìý
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| Charges |
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67,675Ìý |
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894Ìý |
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68,569Ìý |
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| Cash payments and settlements |
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(55,935) |
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(902) |
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(56,837) |
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| Adjustments to accruals |
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(6,432) |
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—Ìý |
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(6,432) |
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| Impact of foreign currency |
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(218) |
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—Ìý |
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(218) |
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| Accrual at March 2025 |
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$ |
65,250Ìý
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$ |
337Ìý
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$ |
65,587Ìý
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