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Corporate Restructuring Costs

12 Months Ended

Dec. 31, 2019

Corporate Restructuring Costs [Abstract]

Corporate Restructuring Costs

5. Corporate Restructuring Costs

In May 2018, we announced that we would open a headquarters office in Newport Beach, California, consolidate certain corporate administrative functions into our existing office in Columbus, Ohio, and close our existing headquarters offices in Denver, Colorado, as well as additional corporate offices in New York, New York. All affected employees were either offered an opportunity to continue in the new organization or were offered a severance package. We record severance as a one-time termination benefit and recognize the expense ratably over the employees’ required future service period.

All other costs, including other employee transition costs, recruitment and relocation costs, office asset impairment and other office closure costs, and third-party and other costs, are recognized in the period incurred.

Corporate restructuring costs consist of the following:



	Year ended December 31,
	2019			2018			2017
Employee severance and other employee transition costs(1)	$	1,768		$	6,919		$	-
Recruitment and relocation costs(1)		6,231			9,952			-
Office asset impairment and other office closure costs(2)		1,719			15,571			-
Third-party and other costs(1)		4,324			8,836			-
Stock-based compensation(1)		134			1,345			-
Total corporate restructuring costs	$	14,176		$	42,623		$	-

__________________

(1)Recorded in general and administrative expenses on the consolidated statements of income.

(2)Recorded in impairment, closure costs, and asset disposals on the consolidated statements of income.

Upon the adoption of Topic 842 on January 1, 2019, lease termination and other closure liabilities of $14,716 were reclassified into operating lease assets and are no longer within the scope of ASC 420, Exit or Disposal Cost Obligations.

Changes in our corporate restructuring liabilities which are included in accrued liabilities on the consolidated balance sheets were as follows:



	December 31, 2018			Charges			Payments			December 31, 2019
Employee severance and other employee transition costs	$	2,722		$	1,768		$	(4,490)		$	-
Recruitment and relocation costs		224			6,231			(6,425)			30
Third-party and other costs		554			4,324			(4,878)			-
Total restructuring liability	$	3,500		$	12,323		$	(15,793)		$	30

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- Definition

The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-URI http://asc.fasb.org/topic&trid=2175745

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