It's not as entirely linear as this in practice (locks happen before all of the animation is done, for example - so that any extensions can be accommodated), a lot of things end up happening as simultaneously, and I'm typically working on anywhere between 5-26 episodes at a time... but this is the basic system.
I'm sharing it here because I get asked a lot where the editing happens in animation ("surely the work's all done by the time you arrive on the scene?"). Answer: everywhere. I haven't even included the script changes and pickups/ ADR here. They basically get added throughout, ideally less frequently as time goes on - the further we are in an episode; the more people are affected if something needs to be changed.