FY2021 10-K Document - FINAL 11 15 21 - Flipbook - Page 62
Table of Contents
Note 13 - Restructuring
In 2020, we initiated restructuring actions in relation to impacts of the COVID-19 pandemic. The actions resulted in
workforce reductions, primarily in the Philippines, Europe and the U.S. We have recorded a total of $10,466 for
severance.
Restructuring activity for severance and other costs by segment and reconciliation to consolidated amounts is as
follows:
Balance at September 29, 2018
Adjustments to provision
Cash payments - 2016 plan
Cash payments - 2018 plan
Foreign currency translation
Balance at September 28, 2019
Charged to expense - 2020 plan
Non-cash charges - 2020 plan
Adjustments to provision
Cash payments - 2018 plan
Cash payments - 2020 plan
Foreign currency translation
Balance at October 3, 2020
Adjustments to provision
Cash payments - 2018 plan
Cash payments - 2020 plan
Foreign currency translation
Balance at October 2, 2021
Space and
Aircraft
Defense
Industrial
Controls
Controls
Systems
Corporate
$
626 $
64 $
6,994 $
429 $
13
(21)
275
17
—
—
—
(446)
(632)
(16)
(2,757)
—
(7)
—
(416)
—
—
27
4,096
—
3,340
185
7,175
—
(234)
—
—
—
—
(1)
(892)
—
—
(26)
(705)
—
(1,859)
(185)
(828)
—
—
—
249
—
1,247
—
9,095
—
(457)
—
(711)
—
—
—
(524)
—
(611)
—
(2,423)
—
—
—
49
—
$
179 $
— $
5,486 $
— $
Total
8,113
284
(446)
(3,405)
(423)
4,123
10,700
(234)
(893)
(731)
(2,872)
249
10,342
(1,168)
(524)
(3,034)
49
5,665
As of October 2, 2021, the restructuring accrual consists of $3,637 for the 2020 plan and $2,028 for the 2018 plan.
Restructuring is expected to be paid by October 1, 2022, except portions classified as long-term liabilities based on
the nature of the reserve.
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