XML 126 R18.htm IDEA: XBRL DOCUMENT v3.20.1
RESTRUCTURING AND OTHER RELATED CHARGES (CREDITS)
 12 Months Ended
Mar. 28, 2020
Restructuring and Related Activities [Abstract]  
RESTRUCTURING AND OTHER RELATED CHARGES (CREDITS) RESTRUCTURING AND OTHER RELATED CHARGES

Summary of Restructuring Plans

Fiscal Year 2020 restructuring plans

During the Fiscal Year 2020, the Company committed to additional actions to rationalize post-Acquisition operations and costs to align the Company's cost structure to current revenue expectations. The costs incurred to date under these plans include severance benefits related to headcount reductions in the Company's global workforce, facility related charges due to consolidation of the Company's leased offices, asset impairments associated with consumer product portfolio optimization efforts, and other costs associated with legal entity rationalization.

Fiscal Year 2019 restructuring plans

During the Fiscal Year 2019, the Company initiated post-Acquisition restructuring plans to realign the Company's cost structure, including streamlining the global workforce, consolidation of certain distribution centers in North America, and reduction of redundant legal entities, in order to take advantage of operational efficiencies following the Acquisition. The costs incurred to date under these plans have primarily comprised of severance benefits from reduction in force actions, facilities related actions initiated by management, and legal entity rationalization.

The following table summarizes the restructuring and other related charges recognized in the Company's consolidated statements of operations:
 
 
Fiscal Year Ended
(in thousands)
 
March 28, 2020
 
March 30, 2019
 
March 31, 2018
Severance
 
$
29,777

 
$
25,033

 
$
1,972

Facility
 
3,247

 
2,241

 
37

Other (1)
 
10,207

 
5,420

 
16

Non-cash asset impairment and (gain)/loss on sale of assets
 
10,946

 
—

 
426

Total restructuring and other related charges
 
$54,177
 
$32,694
 
$2,451
(1) Other costs primarily represent associated legal and advisory services.

The following table summarizes the Company's restructuring liabilities during the year ended March 28, 2020:
 
As of March 30, 2019
Adoption of ASC 842 (1)
Charges
Payments
As of March 28, 2020
FY 2020 Plans
 
 
 
 
 
Severance
$
—

$
—

$
29,621

$
(22,146
)
$
7,475

Facility
—

—

3,247

(746
)
2,501

Other
—

—

10,100

(8,479
)
1,621

Total FY 2020 Plans
—

—

42,968

(31,371
)
11,597

FY2019 Plans
 
 
 
 
 
Severance
5,889

—

156

(5,898
)
147

Facility
7,376

(7,376
)
—

—

—

Other
10

—

107

—

117

Total FY 2019 Plans
13,275

(7,376
)
263

(5,898
)
264

 Severance
5,889

—

29,777

(28,044
)
7,622

 Facility
7,376

(7,376
)
3,247

(746
)
2,501

 Other
10

—

10,207

(8,479
)
1,738

Grand Total
$
13,275

$
(7,376
)
$
43,231

$
(37,269
)
$
11,861


(1) Includes adjustments to facilities-related liabilities upon adoption of ASC 842, Leases.