The Company continuously evaluates its existing operations to increase operational efficiency, decrease costs and increase profitability. A restructuring plan was initiated during the first quarter of fiscal 2024 (the “Fiscal 2024 Plan”) to streamline the organization and optimize resources. Restructuring charges are mainly comprised of severance, other one-time termination benefits, impairment and write-off of purchased IP licenses, and other costs. The Company recorded restructuring and other related charges of $4.1 million for the three months ended May 4, 2024 related to the Fiscal 2024 Plan. The Company expects these restructuring actions to be substantially completed by the end of fiscal 2025.

The following table presents details related to the restructuring related charges as presented in the unaudited condensed consolidated statements of operations (in millions):


	Three Months Ended
	May 4, 2024		April 29, 2023
Employee severance	$	3.7	$	47.4
Impairment and write-off of assets
Purchased IP licenses	—		8.1

Other	0.4		4.4
	$	4.1	$	59.9

The following table sets forth a reconciliation of the beginning and ending restructuring liability balances by major type of cost associated with the restructuring charges (in millions):


	Employee Severance		Other		Total
Balance at February 3, 2024	$	15.5	$	1.5	$	17.0
Charges	3.7		0.4		4.1
Net cash payments	(10.1)		(1.1)		(11.2)
Non-cash items	—		0.7		0.7
Balance at May 4, 2024	9.1		1.5		10.6
Less: non-current portion	—		0.8		0.8
Current portion	$	9.1	$	0.7	$	9.8

The current and non-current portions of the restructuring liability at May 4, 2024 of $9.8 million and $0.8 million are included as a component of accrued liabilities and other non-current liabilities respectively in the accompanying unaudited condensed consolidated balance sheets.