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Restructuring And Other Transformation | 3 Months Ended
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Mar. 31, 2024
Restructuring and Related Activities [Abstract] |
Restructuring And Other Transformation | RESTRUCTURING AND OTHER TRANSFORMATION PROJECT MATTERHORN In September 2022, we announced Project Matterhorn. Project Matterhorn investments focus on transforming our operating model to a global operating model. Project Matterhorn focuses 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 are 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 of our growth initiatives. Restructuring and other transformation related to Project Matterhorn included in the accompanying Condensed Consolidated Statement of Operations for the three months ended March 31, 2024 and 2023 and from the inception of Project Matterhorn through March 31, 2024 is as follows:
| THREE MONTHS ENDED MARCH 31, 2024 |  | THREE MONTHS ENDED MARCH 31, 2023 |  | FROM INCEPTION OF PROJECT MATTERHORN THROUGH MARCH 31, 2024
Restructuring | $ | 10,726 |  |  | $ | 11,957 |  |  | $ | 81,337 |
Other transformation | 30,041 |  |  | 24,956 |  |  | 176,578 |
Restructuring and other transformation | $ | 40,767 |  |  | $ | 36,913 |  |  | $ | 257,915 |
Restructuring costs for Project Matterhorn, included as a component of Restructuring and other transformation in the accompanying Condensed Consolidated Statement of Operations, by segment, for the three months ended March 31, 2024 and 2023 and from the inception of Project Matterhorn through March 31, 2024 is as follows:
| THREE MONTHS ENDED MARCH 31, 2024 |  | THREE MONTHS ENDED MARCH 31, 2023 |  | FROM INCEPTION OF PROJECT MATTERHORN THROUGH MARCH 31, 2024
Global RIM Business | $ | 10,141 |  |  | $ | 9,525 |  |  | $ | 69,946 |
Global Data Center Business | 4 |  |  | 78 |  |  | 524 |
Corporate and Other | 581 |  |  | 2,354 |  |  | 10,867 |
Total restructuring costs | $ | 10,726 |  |  | $ | 11,957 |  |  | $ | 81,337 |
Other transformation costs for Project Matterhorn, included as a component of Restructuring and other transformation in the accompanying Condensed Consolidated Statement of Operations, by segment, for the three months ended March 31, 2024 and 2023 and from the inception of Project Matterhorn through March 31, 2024 is as follows:
| THREE MONTHS ENDED MARCH 31, 2024 |  | THREE MONTHS ENDED MARCH 31, 2023 |  | FROM INCEPTION OF PROJECT MATTERHORN THROUGH MARCH 31, 2024
Global RIM Business | $ | 8,970 |  |  | $ | 3,485 |  |  | $ | 41,240 |
Global Data Center Business | 1,391 |  |  | 870 |  |  | 6,413 |
Corporate and Other | 19,680 |  |  | 20,601 |  |  | 128,925 |
Total other transformation costs | $ | 30,041 |  |  | $ | 24,956 |  |  | $ | 176,578 |
The rollforward of the accrued restructuring costs and accrued other transformation costs, which are included as components of Accrued expenses and other current liabilities in our Condensed Consolidated Balance Sheets, for December 31, 2023 through March 31, 2024 is as follows:
| RESTRUCTURING |  | OTHER TRANSFORMATION |  | TOTAL RESTRUCTURING AND OTHER TRANSFORMATION
Balance as of December 31, 2023 | $ | 10,731 |  |  | $ | 24,854 |  |  | $ | 35,585 |
Amount accrued | 10,726 |  |  | 30,041 |  |  | 40,767 |
Payments | (13,321) |  |  | (38,241) |  |  | (51,562) |
Balance as of March 31, 2024 | $ | 8,136 |  |  | $ | 16,654 |  |  | $ | 24,790 |

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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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