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Business Realignment and Acquisition Integration Charges
 12 Months Ended
Jun. 30, 2023
Restructuring and Related Activities [Abstract]  
Business Realignment and Acquisition Integration Charges Business Realignment and Acquisition Integration Charges
The Company incurred business realignment and acquisition integration charges in 2023, 2022 and 2021. Business realignment charges in 2023, 2022, and 2021 included severance costs related to actions taken under the Company's simplification initiative aimed at reducing organizational and process complexity as well as plant closures. During 2021, business realignment charges primarily consisted of actions taken to address the impact of COVID-19 on our business. A majority of the business realignment charges were incurred in Europe. We believe the realignment actions will positively impact future results of operations but will not have a material effect on liquidity and sources and uses of capital.
Business realignment charges by business segment are as follows:
202320222021
Diversified Industrial$23,641 $13,787 $38,557 
Aerospace Systems3,065 967 6,680 
Corporate administration— — 1,399 
Other expense — 3 1,226 
Workforce reductions in connection with such business realignment charges by business segment are as follows:
202320222021
Diversified Industrial728 300 820 
Aerospace Systems30 10 327 
Corporate administration— — 20 

The business realignment charges are presented in the Consolidated Statement of Income as follows:
20232022*2021*
Cost of sales$15,993 $5,007 $27,276 
Selling, general and administrative expenses10,713 9,747 19,360 
Loss on disposal of assets— 3 1,226 
*Years ended June 30, 2022 and 2021 amounts have been reclassified to reflect the income statement reclassification, as described in Note 1 to the Consolidated Financial Statements.
During 2023, approximately $22 million in payments were made relating to business realignment charges. Remaining payments related to current-year and prior-year business realignment actions of approximately $14 million, a majority of which are expected to be paid by December 31, 2023, are primarily reflected within the other accrued liabilities caption in the Consolidated Balance Sheet. Additional charges may be recognized in future periods related to the business realignment and acquisition integration actions described above, the timing and amount of which are not known at this time.
In addition to the business realignment charges discussed above, in 2022, we also incurred $20 million of expense as a result of our exit of business operations in Russia. These charges primarily consist of write-downs of inventory and other working capital items and $8 million of foreign currency translation expense reclassified from accumulated other comprehensive income. Within the business segment information in Note 18, $7 million of expense was recorded in the other expense (income), net, while the remainder of the charge was split evenly between the Aerospace Systems Segment and the Diversified Industrial International businesses.
We also incurred the following acquisition integration charges related to the Meggitt, Lord and Exotic Metals Forming Company LLC ("Exotic") acquisitions:
 202320222021
Diversified Industrial$8,511 $3,589 $11,222 
Aerospace Systems86,928 1,177 719 
In 2023, acquisition integration charges relate to the acquisition of Meggitt. In 2022, charges within the Diversified Industrial and Aerospace Systems Segment relate to the acquisitions of Lord and Meggitt, respectively. Acquisition integration charges in 2021 within the Diversified Industrial and Aerospace Systems Segment relate to the acquisitions of Lord and Exotic, respectively. These charges were primarily included in selling, general and administrative expenses within the Consolidated Statement of Income.