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Project Summit | 6 Months Ended
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Jun. 30, 2020
Restructuring and Related Activities [Abstract] |
Project Summit | In October 2019, we announced Project Summit. Project Summit focuses on simplifying our global structure by combining our core records and information management operations under one global leader and rebalancing our resources, streamlining managerial structures and leveraging our global and regional customer facing resources. As part of Project Summit, we are also implementing systems and process changes designed to make our organization more agile and dynamic, streamline our organization and reallocate our resources to better align with our strategic goals. Since Project Summit was announced, we have identified additional opportunities to streamline our business and operations, as well as accelerated the timing of certain opportunities previously identified. Such opportunities include leveraging new technology solutions to enable us to modernize our service delivery model and more efficiently utilize our fleet, labor and real estate, which has broadened the initial scope of Project Summit. The activities associated with Project Summit began in the fourth quarter of 2019 and are expected to be substantially complete by the end of 2021. Including the expanded scope of Project Summit, we estimate that the implementation of Project Summit will result in total costs of approximately $450,000, which includes (1) operating expenditures (“Restructuring Charges”) that primarily consist of: (i) employee severance costs; (ii) internal costs associated with the development and implementation of Project Summit initiatives; (iii) professional fees, primarily related to third party consultants who are assisting with the design and execution of various initiatives as well as project management activities and (iv) system implementation and data conversion costs, and (2) capital expenditures. During the three and six months ended June 30, 2020, we incurred $39,298 and $80,344, respectively, of Restructuring Charges, primarily related to employee severance costs, internal costs associated with the development and implementation of Project Summit initiatives and professional fees. Restructuring Charges included in the accompanying Condensed Consolidated Statements of Operations by segment for the three and six months ended June 30, 2020 and from the inception of Project Summit through June 30, 2020 are as follows:
| Three Months Ended June 30, 2020 |  | Six Months Ended June 30, 2020 |  | From the inception of Project Summit through June 30, 2020
Global RIM Business | $ | 12,774 |  |  | $ | 21,062 |  |  | $ | 42,962 |
Global Data Center Business | 503 |  |  | 690 |  |  | 996 |
Corporate and Other Business | 26,021 |  |  | 58,592 |  |  | 84,983 |
Restructuring Charges | $ | 39,298 |  |  | $ | 80,344 |  |  | $ | 128,941 |
A rollforward of the accrued Restructuring Charges, which is included as a component of Accrued expenses and other current liabilities in our Condensed Consolidated Balance Sheet, from December 31, 2019 to June 30, 2020 is as follows:
| Restructuring Charges
Balance as of December 31, 2019(1) | $ | 17,777 |
Amounts accrued | 80,344 |
Payments | (72,757 | )
Other, including currency translation adjustments | (2,716 | )
Balance as of June 30, 2020(2) | $ | 22,648 |
_______________________________________________________________ (1) Accrued Restructuring Charges at December 31, 2019 consist of approximately $13,000 of accrued professional fees and approximately $4,800 of accrued employee severance costs. (2) Accrued Restructuring Charges at June 30, 2020 consist of approximately $16,000 of accrued professional fees and approximately $6,600 of accrued employee severance costs.

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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 + Details
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