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RESTRUCTURING CHARGES
 12 Months Ended
Mar. 31, 2020
Restructuring Charges [Abstract]  
RESTRUCTURING CHARGES RESTRUCTURING CHARGES
Fiscal Year 2020
During the first half of fiscal year 2020 in connection with the recent geopolitical developments and uncertainties, primarily impacting one customer in China, the Company experienced a reduction in demand for products assembled for that customer. As a result, the Company accelerated its strategic decision to reduce its exposure to certain high-volatility products in both China and India. The Company also initiated targeted activities to restructure its business to further reduce and streamline its cost structure. During fiscal year 2020, the Company recognized $216.4 million of restructuring charges. The Company incurred cash charges of approximately $159.3 million, that were predominantly for employee severance, in addition to non-cash charges of $57.1 million, respectively, primarily related to asset impairments.
Restructuring charges are not included in segment income, as disclosed further in note 20.
Fiscal Year 2019
During fiscal year 2019, the Company took targeted actions to optimize its portfolio, most notably within CTG. The Company recognized restructuring charges of approximately $113.3 million during the fiscal year ended March 31, 2019, of which $73.2 million were non-cash charges primarily for asset impairments. A significant component of its charges were associated with the wind down of its NIKE operations in Mexico in the third quarter of fiscal year 2019 where it recognized charges of $66 million primarily for non-cash asset impairments.
In addition, the Company executed targeted head-count reductions at existing operating and design sites and corporate functions and exited certain immaterial businesses. Of these total restructuring charges, approximately $99.0 million was recognized as a component of cost of sales during the fiscal year ended March 31, 2019.
Fiscal Year 2018
During fiscal year 2018, the Company initiated targeted restructuring activities focused on optimizing the Company's cost structure in lower growth areas and, more importantly, streamlining certain corporate and segment functions. Restructuring charges are recorded based upon employee termination dates, site closure and consolidation plans generally in conjunction with an overall corporate initiative to drive cost reduction and realign the Company's global footprint. The Company recognized approximately $78.6 million of cash charges predominantly related to employee severance costs and $12.1 million of non-cash charges for asset impairment and other exit charges under the above plan. Of these total charges, approximately $66.8 million was recognized in cost of sales. A majority of the fiscal year 2018 restructuring activities were completed as of March 31, 2018.
 
Severance
 
Long-Lived
Asset
Impairment
 
Other
Exit Costs
 
Total
 
(In thousands)
Balance as of March 31, 2017
$
16,359

 
$
—

 
$
7,142

 
$
23,501

Provision for charges incurred in fiscal year 2018
69,439

 
9,417

 
11,835

 
90,691

Cash payments for charges incurred in fiscal year 2017 and prior
(13,237
)
 
—

 
(3,671
)
 
(16,908
)
Cash payments for charges incurred in fiscal year 2018
(24,555
)
 
—

 
—

 
(24,555
)
Non-cash charges incurred in fiscal year 2018
—

 
(9,417
)
 
(1,968
)
 
(11,385
)
Balance as of March 31, 2018
48,006

 
—

 
13,338

 
61,344

Provision for charges incurred in fiscal year 2019
38,634


46,365


28,314


113,313

Cash payments for charges incurred in fiscal year 2018 and prior
(40,623
)
 
—

 
(4,293
)
 
(44,916
)
Cash payments for charges incurred in fiscal year 2019
(22,783
)
 
—

 
(1,330
)
 
(24,113
)
Non-cash charges incurred in fiscal year 2019
—

 
(46,365
)
 
(26,829
)
 
(73,194
)
Balance as of March 31, 2019
23,234

 
—

 
9,200

 
32,434

Provision for charges incurred in fiscal year 2020
123,341

 
45,623

 
47,443

 
216,407

Cash payments for charges incurred in fiscal year 2019 and prior
(14,610
)
 
—

 
(2,800
)
 
(17,410
)
Cash payments for charges incurred in fiscal year 2020
(112,463
)
 
—

 
(34,647
)
 
(147,110
)
Non-cash charges incurred in fiscal year 2020
—

 
(45,623
)
 
(15,296
)
 
(60,919
)
Balance as of March 31, 2020
19,502

 
—

 
3,900

 
23,402

Less: Current portion (classified as other current liabilities)
19,502

 
—

 
3,900

 
23,402

Accrued restructuring costs, net of current portion (classified as other liabilities)
$
—

 
$
—

 
$
—

 
$
—