XML 62 R26.htm IDEA: XBRL DOCUMENT v3.3.1.900
Restructuring Charges
 6 Months Ended
Dec. 31, 2015
Restructuring Charges [Abstract]  
Restructuring charges
RESTRUCTURING CHARGES

We periodically take action to reduce redundant expenses and improve operating efficiencies, typically in connection with business acquisitions. The following reflects our restructuring activity (in millions):
Balance at June 30, 2012
$
1.7

Additional charges
2.9

Payments
(1.7
)
Balance at June 29, 2013
2.9

Additional charges
47.0

Payments
(28.7
)
Non-cash adjustments
(4.8
)
Balance at June 28, 2014
16.4

Additional charges
5.1

Payments
(18.5
)
Non-cash adjustments
(1.4
)
Balance at June 27, 2015
1.6

Additional charges
26.9

Payments
(6.4
)
Non-cash adjustments
(1.4
)
Balance at December 31, 2015
$
20.7



Restructuring activity includes severance, lease exit costs, and asset impairments. The charges incurred during the six months ended December 31, 2015 were primarily associated with actions we took to streamline our organization as announced on October 22, 2015 and did not materially impact any one reportable segment. The charges during the fiscal year ended June 28, 2014 were due primarily to Elan. There were no other material restructuring programs in any of the periods presented. All charges are recorded in Restructuring expense. All of the remaining liability for employee severance benefits will be paid within the next year, while cash expenditures related to the remaining liability for lease exit costs will be incurred over the remaining terms of the applicable leases. Asset impairments are non-cash charges recorded when the carrying amount of a discontinued fixed asset exceeds its fair value.