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Restructuring and Other Transformation Charges | 12 Months Ended
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Dec. 31, 2022
Restructuring and Related Activities [Abstract] |
Restructuring and Other Transformation Charges | RESTRUCTURING AND OTHER TRANSFORMATION PROJECT MATTERHORN In September 2022, we announced Project Matterhorn, our global program designed to accelerate the growth of our business. Project Matterhorn investments will focus on transforming our operating model to a global operating model. Project Matterhorn will focus on the formation of a solution-based sales approach that is designed to allow us to optimize our shared services and best practices to better serve our customers' needs. We will be investing to accelerate growth and to capture a greater share of the large, global addressable markets in which we operate. We expect to incur approximately $150,000 in costs annually related to Project Matterhorn from 2023 through 2025. Costs are comprised of (1) restructuring costs, which include (i) site consolidation and other related exit costs, (ii) employee severance costs and (iii) certain professional fees associated with these activities, and (2) other transformation costs, which include professional fees such as project management costs and costs for third party consultants who are assisting in the enablement our growth initiatives. Total costs related to Project Matterhorn during the year ended December 31, 2022 were approximately $41,933 and are included in Restructuring and other transformation in our Consolidated Statement of Operations. There were no Restructuring and other transformation costs related to Project Matterhorn for the years ended December 31, 2021 or 2020. Restructuring and other transformation related to Project Matterhorn included in the accompanying Consolidated Statement of Operations for the year ended December 31, 2022, is as follows:
| YEAR ENDED DECEMBER 31, 2022
Restructuring | $ | 13,292 |
Other transformation | 28,641 |
Restructuring and other transformation | $ | 41,933 |
Restructuring costs for Project Matterhorn, included as a component of Restructuring and other transformation in the accompanying Consolidated Statement of Operations, by segment for the year ended December 31, 2022 are as follows:
| YEAR ENDED DECEMBER 31, 2022
Global RIM Business | $ | 13,083 |
Global Data Center Business | — |
Corporate and Other | 209 |
Total restructuring costs | $ | 13,292 |
PROJECT SUMMIT In October 2019, we announced Project Summit, our global program designed to better position us for future growth and achievement of our strategic objectives. We expanded Project Summit during the first quarter of 2020 to include additional opportunities to streamline our business and operations, as well as accelerated the timing of certain opportunities previously identified. As of December 31, 2021, we completed Project Summit. As a result of the program, we simplified our global structure, rebalanced resources to focus on higher growth areas, realigned our management structure to create a more dynamic, agile organization, made investments to enhance the customer experience and leveraged new technology solutions that enabled us to modernize our service delivery model and more efficiently utilize our fleet, labor and real estate. The implementation of Project Summit resulted in total restructuring costs of approximately $450,000 that primarily consisted 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 assisted with the design and execution of various initiatives as well as project management activities and (iv) system implementation and data conversion costs. Restructuring costs for Project Summit are included as a component of Restructuring and other transformation in the accompanying Consolidated Statements of Operations for the years ended December 31, 2021 and 2020, and from the inception of Project Summit through December 31, 2021 is as follows:
|  | YEAR ENDED DECEMBER 31, 2021 |  | YEAR ENDED DECEMBER 31, 2020 |  | FROM INCEPTION OF PROJECT SUMMIT THROUGH DECEMBER 31, 2021
Employee severance |  | $ | 22,809 |  |  | $ | 47,349 |  |  | $ | 91,008 |
Professional fees and other |  | 183,617 |  |  | 147,047 |  |  | 358,411 |
Total restructuring costs |  | $ | 206,426 |  |  | $ | 194,396 |  |  | $ | 449,419 |
As Project Summit was completed as of December 31, 2021, there were no restructuring costs for Project Summit for the year ended December 31, 2022. Restructuring costs for Project Summit included in the accompanying Consolidated Statements of Operations by segment for the years ended December 31, 2021, and 2020 are as follows:
|  | YEAR ENDED DECEMBER 31, 2021 |  | YEAR ENDED DECEMBER 31, 2020 |  | FROM INCEPTION OF PROJECT SUMMIT THROUGH DECEMBER 31, 2021
Global RIM Business |  | $ | 59,033 |  |  | $ | 67,140 |  |  | $ | 148,073 |
Global Data Center Business |  | 3,062 |  |  | 1,632 |  |  | 5,000 |
Corporate and Other |  | 144,331 |  |  | 125,624 |  |  | 296,346 |
Total restructuring costs |  | $ | 206,426 |  |  | $ | 194,396 |  |  | $ | 449,419 |
A rollforward of the accrued restructuring costs, which is included as a component of Accrued expenses and other current liabilities in our Consolidated Balance Sheets for December 31, 2021 through December 31, 2022, is as follows:
|  | EMPLOYEE SEVERANCE |  | PROFESSIONAL FEES AND OTHER |  | TOTAL ACCRUED RESTRUCTURING COSTS
Balance as of December 31, 2020 |  | $ | 16,278 |  |  | $ | 23,775 |  |  | $ | 40,053 |
Amounts accrued |  | 22,809 |  |  | 183,617 |  |  | 206,426 |
Payments |  | (29,956) |  |  | (199,664) |  |  | (229,620) |
Other, including currency translation adjustments |  | 2,858 |  |  | — |  |  | 2,858 |
Balance as of December 31, 2021 |  | $ | 11,989 |  |  | $ | 7,728 |  |  | $ | 19,717 |
Payments |  | (11,989) |  |  | (7,728) |  |  | (19,717) |
Balance as of December 31, 2022 |  | $ | — |  |  | $ | — |  |  | $ | — |

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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 -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4(e)) -URI https://asc.fasb.org/extlink&oid=115931487&loc=d3e140904-122747 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -URI https://asc.fasb.org/topic&trid=2175745 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b)(2) -URI https://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 + Details
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