Restructuring Actions

12 Months Ended

Dec. 26, 2021

During 2018, the Company announced a comprehensive restructuring plan which consisted of re-designing its go-to market strategy and re-shaping its organization to become a more responsive, innovative and digitally-driven play and entertainment company. As part of this process the Company took certain restructuring actions which continued through 2019. The actions primarily included headcount reduction aimed at right-sizing the Company’s cost-structure and giving it the ability to add required new talent in the future. In 2020, the Company continued to streamline its commercial organization, and recorded severance of $6.9 million associated with these cost-savings initiatives. These charges were included within selling, distribution and administrative costs on the Consolidated Statement of Operations for the year ended December 27, 2020.

During 2020, in connection with the eOne acquisition, the Company recorded $32.5 million of severance and other employee charges related to the integration of eOne. These charges were recorded within acquisition and related costs on the Consolidated Statements of Operations for the year ended December 27, 2020, and reported within Corporate and Eliminations.

The Company also recorded severance charges of $1.5 million in 2020 associated with cost-savings initiatives within the eOne Music business.

The detail of activity related to the programs as of December 26, 2021 is as follows:


(In millions)	2018 Restructuring & 2020 Commercial Program		eOne Integration Program		Other		Total
Remaining amounts to be paid as of December 29, 2019	$	31.1	$	—	$	—	$	31.1
2020 restructuring charges	6.9		32.5		1.5		40.9
Payments made in 2020	(20.7)		(15.6)		(0.7)		(37.0)
Remaining amounts to be paid as of December 27, 2020	17.3		16.9		0.8		$	35.0


Payments made in 2021	(7.5)		(11.8)		(0.8)		(20.1)
Remaining amounts to be paid as of December 26, 2021	$	9.8	$	5.1	$	—	$	14.9