Note 6 - Restructuring

3 Months Ended

Mar. 29, 2025

Restructuring and Related Activities Disclosure [Text Block]

Note 6 - Restructuring

Under the Q3 2024 Plan, which is described in the 2024 10-K, we incurred restructuring costs of approximately $0.1 million in the first quarter of fiscal 2025. Under this plan, approximately $7.7 million of total costs have been incurred through March 29, 2025. The Q3 2024 plan is expected to be largely complete in the first half of fiscal year 2025.

Under the Q3 2023 Plan, which is described in the 2024 10-K, we incurred no restructuring costs during the first quarter of fiscal 2025 and approximately $2.3 million during the first quarter of fiscal 2024. Under this plan, approximately $7.3 million of total costs have been incurred through March 29, 2025. All actions planned under the Q3 2023 plan have been implemented.

Other restructuring activity in the periods presented consisted of expense adjustments on previous plans. Costs and adjustments on restructuring plans are recorded to Restructuring and other on our Consolidated Statements of Operations. The restructuring accrual balance is presented in Accrued liabilities and in Other long-term liabilities on our Consolidated Balance Sheets. The following table displays the activity related to our restructuring plans:

(In thousands)	*Severance & Related*			*Lease Termination & Fixed Assets*			*Other (1)*			*Total*
Accrued Restructuring at December 28, 2024	$	1,905		$	2,964		$	—		$	4,869
Restructuring		96			40			—			136
Costs paid or otherwise settled		(1,503	)		(451	)		—			(1,954	)
Accrued Restructuring at March 29, 2025	$	498		$	2,553		$	—		$	3,051

Accrued Restructuring at December 30, 2023	$	1,490		$	4,508		$	620		$	6,618
Restructuring		2,341			(17	)		(620	)		1,704
Costs paid or otherwise settled		(2,979	)		(354	)		—			(3,333	)
Accrued Restructuring at March 30, 2024	$	852		$	4,137		$	—		$	4,989

(1)

Includes termination fees on the cancellation of certain contracts

LATTICE SEMICONDUCTOR CORP 10-Q