Restructuring Programs

12 Months Ended

Jun. 30, 2021

Restructuring and Related Activities [Abstract]

NOTE 5. RESTRUCTURING PROGRAMS

The Company recorded restructuring charges of $168 million, $140 million and $92 million for the fiscal years ended June 30, 2021, 2020 and 2019, respectively, of which $122 million, $84 million and $68 million, respectively, related to the News Media segment. The increase in restructuring charges in fiscal 2021 was primarily as a result of exit costs associated with the anticipated closure of the Company’s Bronx print plant, the termination of a third-party printing contract and the Company’s global cost

reduction initiatives. The restructuring charges recorded in fiscal 2020 and 2019 were for employee termination benefits. The increase in restructuring charges during the fiscal year ended June 30, 2020 was primarily as a result of initiatives undertaken by the Company in response to COVID-19.

Changes in the restructuring program liabilities were as follows:


	One-time employee termination benefits		Facility related costs		Other costs		Total
	(in millions)
Balance, June 30, 2018	$	29	$	2	$	11	$	42
Additions	92		—		—		92
Payments	(91)		—		(2)		(93)
Other	(2)		—		1		(1)
Balance, June 30, 2019	$	28	$	2	$	10	$	40
Additions	140		—		—		140
Payments	(109)		—		(1)		(110)
Other	5		(2)		—		3
Balance, June 30, 2020	$	64	$	—	$	9	$	73
Additions	83		—		85		168
Payments	(97)		—		(55)		(152)
Other	1		—		(4)		(3)
Balance, June 30, 2021	$	51	$	—	$	35	$	86

As of June 30, 2021 and June 30, 2020 restructuring liabilities of approximately $58 million and $64 million, respectively, were included in the Balance Sheet in Other current liabilities and $28 million and $9 million, respectively, were included in Other non-current liabilities.