Restructuring and Related Charges

3 Months Ended

Sep. 28, 2024

Restructuring and Related Activities [Abstract]

Note 11. Restructuring and Related Charges

We have initiated various strategic restructuring actions primarily to reduce costs, consolidate our operations, rationalize the manufacturing of our products and align our business in response to market conditions and as a result of our acquisitions.

The following table summarizes activities of restructuring and related charges for the periods as presented (in millions):


	Three Months Ended
	September 28, 2024		September 30, 2023
Balance as of beginning of period	$	11.1	$	5.0
Charges	9.7		11.0
Payments and other adjustments	(14.5)		(6.7)
Balance as of end of period	$	6.3	$	9.3

During the three months ended September 28, 2024, we recorded restructuring and related charges of $9.7 million, which includes $6.0 million of asset write-offs primarily due to integration efforts to consolidate our sites, $3.0 million of charges related to the discontinuation of our in-house development of coherent DSPs and RFICs and the remaining restructuring charges due to company-wide cost reduction initiatives.

During the three months ended September 30, 2023, we recorded restructuring and related charges of $11.0 million in our

condensed consolidated statements of operations, which were primarily due to company-wide cost reduction initiatives, as well as our integration efforts as a result of the merger with NeoPhotonics.

Any changes in the estimates of executing our restructuring activities will be reflected in our future results of operations.