Restructuring and Related Impairment Charges

12 Months Ended

Mar. 31, 2023

Restructuring and Related Activities [Abstract]

RESTRUCTURING AND RELATED IMPAIRMENT CHARGES

During Fiscal 2020, the Company's Board of Directors approved a restructuring plan ranging between $550 million to $600 million in costs (the "2020 restructuring plan") designed to rebalance the Company's cost base to further improve profitability and cash flow generation. The Company concluded the 2020 restructuring plan during the Transition Period.

Restructuring and related impairment charges and recoveries require the Company to make certain judgments and estimates regarding the amount and timing as to when these charges or recoveries occur. The estimated liability could change subsequent to its recognition, requiring adjustments to the expense and the liability recorded. On a quarterly basis, the Company conducts an evaluation of the related liabilities and expenses and revises its assumptions and estimates as appropriate, as new or updated information becomes available. No adjustments to expense were recorded during Fiscal 2023.

All restructuring and related impairment charges are included in the Company's Corporate Other segment. A summary of the activity in the restructuring reserve related to the Company's 2020 restructuring plan, as well as prior restructuring plans in 2018 and 2017 are as follows:


	Employee Related Costs		Contract Exit Costs		Other Restructuring Related Costs
Balance as of December 31, 2020	$	12,868	$	61,642	$	6,098
Net additions (recoveries) charged to expense	(1,655)		17,814		(1,494)
Cash payments	(5,473)		(47,486)		(6,078)
Foreign exchange and other	(2,192)		(565)		120
Balance as of December 31, 2021	$	3,548	$	31,405	$	(1,354)
Net additions (recoveries) charged to expense	(10)		58,555		(1,871)
Cash payments	(955)		(9,280)		—
Foreign exchange and other	89		(2,443)		3,225
Balance as of March 31, 2022	$	2,672	$	78,237	$	—
Net additions (recoveries) charged to expense	—		—		—
Cash payments	(1,057)		(76,287)		—
Foreign exchange and other	(659)		(1,832)		—
Balance as of March 31, 2023	$	956	$	118	$	—