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RESTRUCTURING (Tables) | 9 Months Ended
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Sep. 30, 2023
Restructuring and Related Activities [Abstract] |
Restructuring and related costs | The following expenses were recognized within restructuring expenses in the condensed consolidated statements of operations for the three and nine months ended September 30, 2023 (in thousands):
|  | Three Months Ended September 30, 2023 |  | Nine Months Ended September 30, 2023 |  |  |
Separation pay(1) |  | $ | (860) |  |  | $ | 56,733 |  |  |  |
Stock-based compensation(2) |  | — |  |  | 84,042 |  |  |  |
Other personnel costs |  | — |  |  | 1,819 |  |  |  |
Total |  | $ | (860) |  |  | $ | 142,594 |  |  |  |
__________________ (1)Reduction of $0.9 million during the three months ended September 30, 2023 was due to the release of accruals for certain separation pay expenses recorded as of June 30, 2023 which were not utilized. (2)Represents stock-based compensation expenditures for the nine months ended September 30, 2023 relating to the acceleration of the vesting of outstanding equity awards in accordance with the terms of such awards. The following expenses were recognized within restructuring expenses in the condensed consolidated statements of operations for the three and nine months ended September 30, 2022 (in thousands):
|  | Three Months Ended September 30, 2022 |  | Nine Months Ended September 30, 2022
Separation pay |  | $ | — |  |  | $ | 39,259 |
Other personnel costs (1) |  | (1,232) |  |  | 1,962 |
Total |  | $ | (1,232) |  |  | $ | 41,221 |
_________________ (1)Reduction of $1.2 million during the three months ended September 30, 2023 was due to the release of accruals for certain other personnel costs recorded as of June 30, 2022 which were not utilized.
Schedule of restructuring reserve by type of cost | The following table summarizes the balance of the 2023 Restructuring reserve and the changes in the reserve as of and for the nine months ended September 30, 2023 (in thousands):
| Expenses Incurred(1) |  | Payments |  | Adjustments(2) |  | Accrued Balance as of September 30, 2023
Separation pay | $ | 57,745 |  |  | $ | (56,733) |  |  | $ | (1,012) |  |  | $ | — |
Other personnel costs | 2,702 |  |  | (1,819) |  |  | (883) |  |  | — |
Total | $ | 60,447 |  |  | $ | (58,552) |  |  | $ | (1,895) |  |  | $ | — |
_________________ (1)Excludes stock-based compensation as it was not reflected in the Company’s restructuring reserve on the condensed consolidated balance sheets. (2)Reductions of $1.0 million and $0.9 million during the nine months ended September 30, 2023 were due to the release of accruals for certain separation pay expenses and other personnel costs, respectively, recorded as of March 31, 2023, which were not utilized. The following table summarizes the balance of the 2022 Restructuring reserve and the changes in the reserve as of and for the nine months ended September 30, 2022 (in thousands). The associated liability that remained outstanding as of September 30, 2022 was recorded in accrued expenses and other current liabilities on the condensed consolidated balance sheets:
| Expenses Incurred |  | Payments |  | Adjustments |  | Accrued Balance as of September 30, 2022
Separation pay | $ | 39,259 |  |  | $ | (37,940) |  |  | $ | — |  |  | $ | 1,319 |
Other personnel costs | 3,194 |  |  | (1,480) |  |  | (1,232) |  |  | 482 |
Total | $ | 42,453 |  |  | $ | (39,420) |  |  | $ | (1,232) |  |  | $ | 1,801 |

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- Definition Tabular disclosure of costs incurred for restructuring including, but not limited to, exit and disposal activities, remediation, implementation, integration, asset impairment, and charges against earnings from the write-down of assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 5.P.3) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479823/420-10-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482017/420-10-50-1 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 5.P.4) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479823/420-10-S99-2 + Details
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- Definition Tabular disclosure of an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost. This element may also include a description of any reversal and other adjustment made during the period to the amount of an accrued liability for restructuring activities. This element may be used to encapsulate the roll forward presentations of an entity's restructuring reserve by type of cost and in total, and explanation of changes that occurred in the period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482017/420-10-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4(b)(2)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479823/420-10-S99-2 + Details
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