Restructuring and Other Charges/(Income) |
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| Restructuring and Related Activities [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Restructuring and Other Charges/(Income) | Restructuring and Other Charges/(Income) Fiscal 2025 charges
On April 8, 2024, we enacted certain cost-cutting measures, including a reduction-in-force plan, as well as a facility consolidation, that together affected 68 employees across our US-LAM and Canada reportable segments. Pursuant to the
foregoing, we moved certain operations and equipment associated with our rail & transit business from our Denver, Colorado location to San Marcos, Texas, where we have an existing manufacturing and back-office presence. These efforts, in part, will allow us to streamline certain operations, reduce our manufacturing footprint, and position us for more profitable growth. We substantially completed the facility consolidation and the sale of our Denver property in the three months ended December 31, 2024. These actions resulted in income of $(3,029) and $(306) in "Restructuring and other charges/(income)," for the three and nine months ended December 31, 2024, respectively.
Fiscal 2024 charges
As a result of the continued impact of the Russo-Ukrainian war, including the sanctions related thereto, the Company commenced a strategic assessment of its operations in its Russian subsidiary. On January 31, 2023, our board of directors authorized the Company to withdraw from its operations in the Russian Federation (the “Russia Exit”), through a planned disposition of its Russian subsidiary. In fiscal 2023, we reclassified the assets related to our Russian subsidiary into a separate asset group deemed as "assets held-for-sale," and wrote down the related net assets to a nominal value. In the three and nine months ended December 31, 2023, we recognized total charges related to the Russia Exit of $1,336 and $2,221, recorded to "Restructuring and other charges" on our condensed consolidated statements of operations and comprehensive income/(loss).
Restructuring and other charges/(income) by reportable segment is as follows:
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