Restructuring Programs

9 Months Ended

Mar. 31, 2021

Restructuring and Related Activities [Abstract]

RESTRUCTURING PROGRAMS

Fiscal 2021

During the three and nine months ended March 31, 2021, the Company recorded restructuring charges of $30 million and $93 million, respectively, of which $18 million and $61 million, respectively, are related to the News Media segment. The

restructuring charges recorded in fiscal 2021 primarily relate to employee termination benefits and exit costs associated with the anticipated closure of the Company’s Bronx print plant. In September 2020, the Company announced that it plans to close the plant and shift the printing of those publications in New York to a third party facility during fiscal 2021.

Fiscal 2020

During the three and nine months ended March 31, 2020, the Company recorded restructuring charges of $19 million and $53 million, respectively, of which $13 million and $37 million, respectively, related to the News Media segment. The restructuring charges recorded in fiscal 2020 were for employee termination benefits.

Changes in restructuring program liabilities were as follows:


	For the three months ended March 31,
	2021				2020
	One time employee termination benefits		Other costs		Total		One time employee termination benefits		Facility related costs		Other costs		Total
	(in millions)
Balance, beginning of period	$	32	$	34	$	66	$	16	$	—	$	9	$	25
Additions	20		10		30		19		—		—		19
Payments	(12)		(8)		(20)		(17)		—		—		(17)
Other	(2)		—		(2)		—		—		—		—
Balance, end of period	$	38	$	36	$	74	$	18	$	—	$	9	$	27


	For the nine months ended March 31,
	2021				2020
	One time employee termination benefits		Other costs		Total		One time employee termination benefits		Facility related costs		Other costs		Total
	(in millions)
Balance, beginning of period	$	64	$	9	$	73	$	28	$	2	$	10	$	40
Additions	55		38		93		53		—		—		53
Payments	(81)		(11)		(92)		(63)		—		(1)		(64)
Other	—		—		—		—		(2)		—		(2)
Balance, end of period	$	38	$	36	$	74	$	18	$	—	$	9	$	27

As of March 31, 2021, restructuring liabilities of approximately $46 million were included in the Balance Sheet in Other current liabilities and $28 million were included in Other non-current liabilities.