RESTRUCTURING CHARGES |
9 Months Ended |
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Mar. 31, 2021 | |
| Restructuring and Related Activities [Abstract] | |
| RESTRUCTURING CHARGES | RESTRUCTURING CHARGES In September 2019, management approved a plan to streamline our organization and business processes that included the reduction of workforce, which is expected to be completed in the fourth quarter of our fiscal year ending June 30, 2021, primarily in our PCB, Display and Component Inspection segment.
Restructuring charges were $2.9 million for the three months ended March 31, 2021, and included $1.0 million of non-cash charges for accelerated depreciation related to certain right-of use assets and fixed assets to be abandoned. Restructuring charges were $11.1 million for the nine months ended March 31, 2021, and included $3.0 million of non-cash charges for accelerated depreciation related to certain right-of use assets and fixed assets to be abandoned. As of March 31, 2021 and June 30, 2020, the accrual for restructuring charges was $4.5 million and $5.7 million, respectively. We expect to incur additional restructuring charges, including additional severance costs and other related costs in future periods in connection with the completion of our workforce reduction.
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- References No definition available.
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- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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