Annual report pursuant to Section 13 and 15(d)

RESTRUCTURING (Tables)

v3.23.1
RESTRUCTURING (Tables)
12 Months Ended
Apr. 01, 2023
Restructuring and Related Activities [Abstract]  
Schedule of Components of Restructuring Charges
The components of the restructuring charges are as follows:
Year Ended March
(In thousands) 2023 2022 2021
Severance and employee-related benefits $ 57,433  $ 12,283  $ 64,972 
Asset impairments —  —  23,087 
Accelerated depreciation 8,016  7,016  11,266 
Inventory write-downs —  —  10,658 
Contract termination and other 10,289  703  9,023 
Total restructuring charges $ 75,738  $ 20,002  $ 119,006 
Restructuring costs by business segment are as follows:
Year Ended March
(In thousands) 2023 2022 2021
Outdoor $ 1,088  $ 4,523  $ 14,081 
Active 1,478  1,008  20,958 
Work 2,315  31,907 
Corporate and other 73,163  12,156  52,060 
Total $ 75,738  $ 20,002  $ 119,006 
Schedule of Activity in Restructuring Accrual
The activity in the restructuring accrual was as follows:
(In thousands) Severance Other Total
Accrual at March 2021 $ 59,810  $ 6,944  $ 66,754 
Charges 12,283  703  12,986 
Cash payments and settlements (43,886) (5,694) (49,580)
Adjustments to accruals (2,320) (647) (2,967)
Impact of foreign currency (247) (95) (342)
Accrual at March 2022 25,640  1,211  26,851 
Charges 57,433  5,190  62,623 
Cash payments and settlements (41,338) (345) (41,683)
Adjustments to accruals (3,236) 40  (3,196)
Impact of foreign currency 222  449  671 
Accrual at March 2023 $ 38,721  $ 6,545  $ 45,266