Restructuring and Related Charges

9 Months Ended

Mar. 31, 2023

RESTRUCTURING AND OTHER CHARGES, NET

We recorded no restructuring and related charges for the three and nine months ended March 31, 2023. For the three months ended March 31, 2022, we recorded restructuring and related charges of $3.0 million, which consisted of charges of $3.0 million in Metal Cutting and an immaterial amount in Infrastructure. Of this amount, restructuring charges were $0.9 million and restructuring-related charges were $2.1 million (included in cost of goods sold).

For the nine months ended March 31, 2022, we recorded restructuring and related charges of $2.6 million, which consisted of charges of $2.6 million in Metal Cutting and an immaterial amount in Infrastructure. Of this amount, the net benefits from the reversal of restructuring charges were $2.3 million and restructuring-related charges were $4.9 million (included in cost of goods sold).

As of March 31, 2023, $2.9 million and $1.5 million of the restructuring accrual was recorded in other current liabilities and other liabilities, respectively, in our condensed consolidated balance sheet. As of June 30, 2022, $6.0 million and $1.9 million of the restructuring accrual was recorded in other current liabilities and other liabilities, respectively. The amounts are as follows:


(in thousands)	June 30, 2022		Expense		Translation		Cash Expenditures		March 31, 2023
Severance	$	7,919	$	—	$	29	$	(3,529)	$	4,419


Total	$	7,919	$	—	$	29	$	(3,529)	$	4,419

Included in other charges, net for the three and nine months ended March 31, 2023 is a net benefit of $1.0 million and $2.5 million, respectively, consisting primarily from gains on the sale of properties.