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Restructuring and Other Costs, Net
3 Months Ended
Dec. 31, 2024
Restructuring and Related Activities [Abstract]  
Restructuring and Other Costs, Net

Note 10. Restructuring and Other Costs, Net

Restructuring and other costs, net includes restructuring expenses as well as other charges that are unusual in nature, are the result of unplanned events, and arise outside of the ordinary course of our business. The following table sets forth accrual activity relating to restructuring reserves for the three months ended December 31, 2024 (dollars in thousands):

 

 

 

Personnel

 

 

Other

 

 

Total

 

Balance as of September 30, 2024

 

$

3,758

 

 

$

572

 

 

$

4,330

 

Restructuring and other costs, net

 

 

10,196

 

 

 

866

 

 

 

11,062

 

Non-cash adjustments

 

 

(2,963

)

 

 

 

 

 

(2,963

)

Cash payments

 

 

(8,428

)

 

 

(491

)

 

 

(8,919

)

Effect of foreign currency translation

 

 

(41

)

 

 

 

 

 

(41

)

Balance at December 31, 2024

 

$

2,522

 

 

$

947

 

 

$

3,469

 

 

The following table sets forth restructuring and other costs, net recognized for the three months ended December 31, 2024 and 2023 (dollars in thousands):

 

 

 

Three Months Ended December 31,

 

 

 

2024

 

 

2023

 

 

 

 

 

 

 

 

Personnel

 

$

10,196

 

 

$

115

 

Facilities

 

 

 

 

 

145

 

Other

 

 

866

 

 

 

445

 

Restructuring and other costs, net

 

$

11,062

 

 

$

705

 

 

Fiscal Year 2025

For the three months ended December 31, 2024, we recorded restructuring and other costs, net of $11.1 million, which included a $10.2 million charge related to the elimination of personnel, of which $3.0 million related to the stock-based compensation expense related to the termination of our former senior management employees, and a $0.9 million charge relating to our transformation initiatives.

Fiscal Year 2024

For the three months ended December 31, 2023, we recorded restructuring and other costs, net of $0.7 million which included a $0.1 million severance charge related to the elimination of personnel, a $0.1 million charge resulting from the closure of facilities that will no longer be utilized, and $0.4 million related to other one-time charges.