The Company incurs restructuring charges related to strategic initiatives and cost optimization of business activities, primarily related to severance and employee-related benefits. During the three and nine months ended December 2021, VF recognized $3.6 million and $11.4 million, respectively, of restructuring charges, related to approved initiatives. Of the restructuring charges recognized in the three and nine months ended December 2021, $3.5 million and $9.8 million were reflected in selling, general and administrative expenses, respectively, and $0.1 million and $1.6 million in cost of goods sold, respectively.

The Company has not recognized any significant incremental costs related to accruals for the year ended March 2021 or prior periods.

Of the $31.1 million total restructuring accrual at December 2021, $30.1 million is expected to be paid out within the next 12 months and is classified within accrued liabilities. The remaining $1.0 million will be paid out beyond the next 12 months and thus is classified within other liabilities.

The components of the restructuring charges are as follows:


	Three Months Ended December				Nine Months Ended December

(In thousands)	2021		2020		2021		2020
Severance and employee-related benefits	$	3,056	$	24,545	$	7,352	$	52,937
Asset impairments	—		—		—		10,557
Accelerated depreciation	590		3,429		4,057		10,093
Inventory write-downs	—		7,115		—		7,115
Contract termination and other	—		3,107		—		3,324
Total restructuring charges	$	3,646	$	38,196	$	11,409	$	84,026

Restructuring costs by business segment are as follows:


	Three Months Ended December				Nine Months Ended December

(In thousands)	2021		2020		2021		2020
Outdoor	$	1,529	$	2,676	$	4,206	$	9,271
Active	—		3,275		1,008		3,938
Work	1,527		8,409		2,315		27,216
Other	590		23,836		3,880		43,601
Total	$	3,646	$	38,196	$	11,409	$	84,026

The activity in the restructuring accrual for the nine-month period ended December 2021 was as follows:


(In thousands)	Severance		Other		Total
Accrual at March 2021	$	59,810	$	6,944	$	66,754
Charges	7,352		—		7,352
Cash payments and settlements	(36,130)		(5,680)		(41,810)
Adjustments to accruals	(970)		(40)		(1,010)
Impact of foreign currency	(155)		(80)		(235)
Accrual at December 2021	$	29,907	$	1,144	$	31,051