Restructuring Activities |
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Restructuring and Related Activities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restructuring Activities | 3. RESTRUCTURING ACTIVITIES During the first quarter of Fiscal 2025, we began a review of our cost to serve focused on improving efficiencies and identifying cost reduction opportunities. There were no restructuring charges related to these cost reduction opportunities during the second quarter of Fiscal 2025. The company incurred consulting costs associated with implementing the restructuring program. In April 2024, the company announced a cost savings program to improve operational performance, which includes employee termination benefits associated with a reduction-in-force ("RIF") and other expense optimization initiatives. The company incurred final RIF charges and made the final payments in the first quarter of Fiscal 2025. The company also incurred consulting costs associated with implementing the restructuring program. The tables below present the components of costs associated with the restructuring programs detailed above (amounts in thousands):
(1) Presented on our Condensed Consolidated Statements of Income. (2) Costs are recorded in the selling, distribution and administrative expenses line item of our Condensed Consolidated Statements of Income.
The table below presents the components of, and changes in, our restructuring accruals (amounts in thousands):
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