RESTRUCTURING ACTIVITIES

During the fiscal year ended June 29, 2019, the Company recorded $5.6 million in “Severance and restructuring expenses" in the Consolidated Statements of Income related to various restructuring plans designed to reduce costs. These charges were primarily associated with continued reorganization of certain business units and functions, which impacted multiple job classifications and locations, as well as employee enrollments in voluntary separation programs.

During the fiscal year ended June 30, 2018, the Company recorded $15.1 million in “Severance and restructuring expenses" in the Consolidated Statements of Income related to various restructuring plans designed to reduce costs. These charges were primarily associated with continued reorganization of certain business units and functions, which impacted multiple job classifications and locations, as well as employee enrollments in voluntary separation programs.

During the fiscal year ended June 24, 2017, the Company recorded $12.5 million in “Severance and restructuring expenses" in the Consolidated Statements of Income related to various restructuring plans designed to reduce costs. These charges were primarily associated with continued reorganization of certain business units and functions and the closure of the Dallas, Texas campus, including ceasing operations of its wafer level packaging (“WLP”) manufacturing facilities. Multiple job classifications and locations were impacted by these activities. In connection with the WLP closure, the Company recorded accelerated depreciation charges of $3.5 million in “Cost of goods sold” and $0.8 million in "Operating expenses" in the Consolidated Statements of Income.

Restructuring Accruals

The Company has accruals for severance and restructuring payments within Accrued salary and related expenses in the accompanying Consolidated Balance Sheets. The following table summarizes changes in the accruals associated with these restructuring activities during the fiscal years ended June 29, 2019 and June 30, 2018:



		Balance, June 24, 2017		Fiscal Year 2018								Balance, June 30, 2018		Fiscal Year 2019								Balance, June 29, 2019
		Balance, June 24, 2017		Charges		Cash Payments			Change in Estimates			Balance, June 30, 2018		Charges		Cash Payments			Change in Estimates			Balance, June 29, 2019
	(in thousands)
Severance - All plans		$	526	$	15,464	$	(12,617	)	$	(404	)	$	2,969	$	5,632	$	(7,446	)	$	(28	)	$	1,127

Charges and changes in estimates are included in Severance and restructuring expenses in the accompanying Consolidated Statements of Income.

Change in estimate

Due to the above-mentioned restructuring activities, the Company recorded accelerated depreciation resulting from the change in estimated useful lives of certain long-lived assets included in restructuring plans. This change in estimate resulted in additional expense and therefore impacted operating income, net income and earnings per share during the year ended June 24, 2017. Specifically, operating income decreased by $4.2 million; net income decreased by $3.9 million; basic earnings per share decreased by $0.01; and diluted earnings per share decreased by $0.02. The change in estimate had no material impact to the Company’s financial statements during the fiscal years ended June 29, 2019 and June 30, 2018.