Annual report pursuant to Section 13 and 15(d)

RESTRUCTURING CHARGES

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RESTRUCTURING CHARGES
 12 Months Ended
Mar. 31, 2019
Restructuring and Related Activities [Abstract]  
RESTRUCTURING CHARGES
NOTE 6:
RESTRUCTURING CHARGES
Fiscal Year 2019
During fiscal year 2019, plans were approved to eliminate 84 positions in the U.S. and internationally. The purpose of these plans is to improve operational efficiencies and align with the Company’s strategic vision. The Company incurred severance and benefits costs under this restructuring plan of approximately $4.7 million and all separations were completed by the fourth quarter of fiscal 2019.
Also in fiscal year 2019, the Company exited the remaining space at one of its facilities and incurred $0.9 million of restructuring charges as a result of vacating the additional space. As of March 31, 2019, there are three locations under a restructuring plan.
 
Fiscal Year 2018
In fiscal year 2018, three plans were approved to eliminate 207 positions in the U.S. and internationally. The purpose was to improve operating efficiencies in the workforce to align with the Company’s transformation initiative to rationalize its cost structure. The Company incurred severance and benefits costs under these restructuring plans of approximately $8.3 million during fiscal year 2018.
The Company exited one new location during fiscal year 2018 and the costs incurred in vacating this property were fully offset by a sublease on the same property. As of March 31, 2018, the Company had five locations under a restructuring plan.
Fiscal Year 2017
In fiscal 2017, plans were approved to eliminate 43 positions in the U.S. and internationally to reduce investments in various functions of the Company’s business and improve operational efficiencies. The costs associated with these actions consist of restructuring charges related to severance and benefits. Approximately $1.5 million of restructuring charges were incurred and paid under this plan.
The Company fully exited one new location during fiscal 2017. The costs incurred in vacating this property were partially offset by sublease income. As of March 31, 2017, the Company had four locations in under a restructuring plan.
Summarized activity included in “Restructuring Charges” in the accompanying consolidated statements of operations and comprehensive income for the fiscal years ended March 31, 2019, 2018 and 2017 are as follows (in thousands):
 
   
Severance
and benefits
    
Facilities
    
Total
  
Balance as of March 31, 2016 (as restated)
   $ 354     $ 7,572     $ 7,926  
Restructuring charges
     1,493       654       2,147  
Adjustment to prior estimates
     (52 )      —         (52 ) 
Cash payments
     (1,665 )      (2,074 )      (3,739 ) 
   
 
 
    
 
 
    
 
 
  
Balance as of March 31, 2017 (as restated)
     130       6,152       6,282  
Restructuring charges
     8,266       208       8,474  
Cash payments
     (6,368 )      (1,971 )      (8,339 ) 
Other non-cash charges
     (598 )      —         (598 ) 
   
 
 
    
 
 
    
 
 
  
Balance as of March 31, 2018
     1,430       4,389       5,819  
Restructuring charges
     4,708       862       5,570  
Cash payments
     (6,138 )      (2,375 )      (8,513 ) 
   
 
 
    
 
 
    
 
 
  
Balance as of March 31, 2019
   $ —       $ 2,876     $ 2,876  
   
 
 
    
 
 
    
 
 
  
 
   
Severance
and benefits
    
Facilities
    
Total
  
Estimated timing of future payments
                        
Fiscal 2020
   $ —       $ 2,876     $ 2,876  
   
 
 
    
 
 
    
 
 
  
Facility restructuring accruals will be paid in accordance with the respective facility lease terms and amounts above are net of estimated sublease income.