RESTRUCTURING CHARGES

The Company initiated certain restructuring activities during fiscal year 2014 intended to improve its operational efficiencies by reducing excess workforce and capacity and realign the corporate cost structure. There were no material restructuring activities during fiscal years 2016 and 2015. 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.

Fiscal Year 2014

During the fiscal year ended March 31, 2014, the Company recognized restructuring charges of approximately $75.3 million. The costs associated with these restructuring activities include employee severance, other personnel costs, non-cash impairment charges on equipment no longer in use and to be disposed of, and other exit related costs due to facility closures or rationalizations. Pre-tax restructuring charges comprised $73.4 million of cash charges predominantly related to employee severance and $1.9 million of non-cash charges related to impairment of long-lived assets. Employee severance costs were associated with the terminations of 6,758 identified employees. The identified employee terminations by reportable geographic region amounted to approximately 5,073, 1,482 and 203 for Asia, the Americas and Europe, respectively.

The components of the restructuring charges by geographic region incurred in fiscal year 2014 are as follows:



	First Quarter		Fourth Quarter		Total
	(In thousands)
Americas:
Severance	$	11,331	$	11,290	$	22,621
Other exit costs	2,248		—		2,248
Total restructuring charges	13,579		11,290		24,869
Asia:
Severance	16,205		13,214		29,419
Long-lived asset impairment	1,900		—		1,900
Other exit costs	3,157		—		3,157
Total restructuring charges	21,262		13,214		34,476
Europe:
Severance	4,631		10,047		14,678
Other exit costs	1,288		—		1,288
Total restructuring charges	5,919		10,047		15,966
Total
Severance	32,167		34,551		66,718
Long-lived asset impairment	1,900		—		1,900
Other exit costs	6,693		—		6,693
Total restructuring charges	$	40,760	$	34,551	$	75,311

During the fiscal year ended March 31, 2014, the Company recognized approximately $66.7 million of severance costs related to employee terminations of which approximately $50.2 million was recognized in cost of sales.

During the fiscal year ended March 31, 2014, the Company recognized approximately $1.9 million for the write-down of property and equipment, and was classified as a component of cost of sales. The property and equipment were sold as of March 31, 2014.

During the fiscal year ended March 31, 2014, the Company recognized approximately $6.7 million of other exit costs, which primarily were comprised of $3.8 million related to personnel costs and $2.9 million of contractual obligations that resulted from facility closures. The majority of these costs were classified as a component of cost of sales.

The following table summarizes the provisions, respective payments, and remaining accrued balance as of March 31, 2016 for charges incurred in fiscal years 2016, 2015 and 2014 and prior periods:



	Severance			Long-Lived Asset Impairment			Other Exit Costs			Total
	(In thousands)
Balance as of March 31, 2013	$	83,689		$	—		$	14,211		$	97,900
Provision for charges incurred in fiscal year 2014	66,718			1,900			6,693			75,311
Cash payments for charges incurred in fiscal year 2014	(40,273		)	—			(4,296		)	(44,569		)
Cash payments for charges incurred in fiscal year 2013	(71,470		)	—			(8,755		)	(80,225		)
Cash payments for charges incurred in fiscal year 2010 and prior	(2,171		)	—			(1,950		)	(4,121		)
Non-cash charges incurred in fiscal year 2014	—			(1,900		)	—			(1,900		)
Balance as of March 31, 2014	36,493			—			5,903			42,396
Cash payments for charges incurred in fiscal year 2014	(18,558		)	—			(2,212		)	(20,770		)
Cash payments for charges incurred in fiscal year 2013	(4,560		)	—			(1,685		)	(6,245		)
Cash payments for charges incurred in fiscal year 2010 and prior	(12		)	—			(312		)	(324		)
Balance as of March 31, 2015	13,363			—			1,694			15,057
Cash payments for charges incurred in fiscal year 2014	(290		)	—			—			(290		)
Cash payments for charges incurred in fiscal year 2013	(1,168		)	—			(185		)	(1,353		)
Cash payments for charges incurred in fiscal year 2010 and prior	—			—			(174		)	(174		)
Balance as of March 31, 2016	11,905			—			1,335			13,240
Less: Current portion (classified as other current liabilities)	2,212			—			248			2,460
Accrued restructuring costs, net of current portion (classified as other liabilities)	$	9,693		$	—		$	1,087		$	10,780