Restructuring and Non-Recurring Charges

6 Months Ended

Mar. 30, 2024

Restructuring and Related Activities [Abstract]

Restructuring and non-recurring charges are recorded within restructuring and other charges on the Condensed Consolidated Statements of Comprehensive Income. Restructuring liabilities are primarily recorded within other accrued liabilities on the Condensed Consolidated Balance Sheets.

For the three and six months ended March 30, 2024, the Company incurred restructuring and other charges of $11.0 million, which consisted of severance from the reduction of the Company's workforce as well as closure costs associated with a site in the Company's EMEA region, offset by insurance proceeds received associated with an arbitration decision regarding a contractual matter that occurred in the Company's EMEA region in fiscal 2023.

For the three and six months ended April 1, 2023, the Company did not incur any restructuring and other charges.

The Company recognized a tax benefit of $1.2 million related to restructuring and other charges for the three and six months ended March 30, 2024.

The Company's restructuring accrual activity for the three and six months ended March 30, 2024 is included in the tables below (in thousands):


	Termination and Severance Costs		Fixed Asset and Operating ROU Asset Impairment		Arbitration Recovery		Total
Accrual balance, as of December 30, 2023	$	—	$	—	$	—	$	—
Restructuring and other charges	9,865		3,423		(2,250)		11,038
Amounts utilized	(3,858)		(1,767)		2,250		(3,375)
Accrual balance, as of March 30, 2024	$	6,007	$	1,656	$	—	$	7,663