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Restructuring Charges | 9 Months Ended
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Sep. 30, 2024
Restructuring and Related Activities [Abstract] |
Restructuring Charges | In the second quarter of 2023, we initiated the NextGen program aimed at simplifying our operating model, optimizing corporate functions and consolidating and realigning office space to reflect the post-pandemic hybrid work environment. We expect the NextGen program to be completed by the end of 2024. The total costs related to our NextGen program are reported in "Restructuring charges" in our unaudited consolidated statements of operations. We do not allocate these charges to individual segments in internal management reports used by the CODM. Accordingly, such expenses are separately disclosed in our segment reporting as “unallocated costs”. See Note 13. The costs related to our NextGen program are as follows:
| Three Months Ended September 30, |  |  | Nine Months Ended September 30,
(in millions) | 2024 |  | 2023 |  |  | 2024 |  | 2023
Employee separation costs | $ | 29 |  |  | $ | 15 |  |  |  | $ | 55 |  |  | $ | 93 |
Facility exit costs (1) | 4 |  |  | 55 |  |  |  | 29 |  |  | 92 |
Third party and other costs (2) | — |  |  | 2 |  |  |  | 1 |  |  | 4 |
Total restructuring charges | $ | 33 |  |  | $ | 72 |  |  |  | $ | 85 |  |  | $ | 189 |
(1)For the three and nine months ended September 30, 2024, facility exit costs include accelerated depreciation charges of $4 million and $11 million, respectively. For the three and nine months ended September 30, 2023, facility exit costs include accelerated depreciation charges of $17 million and $27 million, respectively. (2)Third party and other costs include certain non-facility related asset impairments and other professional services fees directly related to the NextGen program. We expect to record total costs of approximately $335 million in connection with the NextGen program. For the year ended December 31, 2023, we incurred $229 million of costs in connection with the NextGen program. Changes in our accrued employee separation costs included in "Accrued expenses and other current liabilities" in our unaudited consolidated statements of financial position are presented in the table below for the nine months ended September 30:
(in millions) |  | 2024 |  | 2023
Beginning balance |  | $ | 42 |  |  | $ | — |
Employee separation costs accrued |  | 55 |  |  | 93 |
Payments made |  | (75) |  |  | (56) |
Ending balance |  | $ | 22 |  |  | $ | 37 |

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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://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482017/420-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482017/420-10-50-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//420/tableOfContent Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482017/420-10-50-1 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4(e)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479823/420-10-S99-2 + Details
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