XML 41 R19.htm IDEA: XBRL DOCUMENT v3.25.2
Restructuring And Other Transformation
 6 Months Ended
Jun. 30, 2025
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 have incurred approximately $483,600 in Restructuring and other transformation costs from the inception of Project Matterhorn through June 30, 2025. We expect to incur approximately $150,000 in costs related to Project Matterhorn during the year ended December 31, 2025, at which point the program is expected to be completed. 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 Statements of Operations for the three and six months ended June 30, 2025 and 2024, and from the inception of Project Matterhorn through June 30, 2025, is as follows:
THREE MONTHS ENDED JUNE 30,SIX MONTHS ENDED JUNE 30,FROM INCEPTION
THROUGH
JUNE 30, 2025
2025202420252024
Restructuring$18,246 $16,336 $40,102 $27,062 $161,795 
Other transformation32,094 30,177 64,984 60,218 321,798 
Restructuring and other transformation
$50,340 $46,513 $105,086 $87,280 $483,593 
Restructuring costs for Project Matterhorn, included as a component of Restructuring and other transformation in the accompanying Condensed Consolidated Statements of Operations, by segment, for the three and six months ended June 30, 2025 and 2024, and from the inception of Project Matterhorn through June 30, 2025, are as follows:
THREE MONTHS ENDED JUNE 30,SIX MONTHS ENDED JUNE 30,FROM INCEPTION
THROUGH
JUNE 30, 2025
2025202420252024
Global RIM Business$16,674 $12,643 $37,400 $22,784 $139,335 
Global Data Center Business151 2,572 151 2,576 3,727 
Corporate and Other1,421 1,121 2,551 1,702 18,733 
Total restructuring costs
$18,246 $16,336 $40,102 $27,062 $161,795 
Other transformation costs for Project Matterhorn, included as a component of Restructuring and other transformation in the accompanying Condensed Consolidated Statements of Operations, by segment, for the three and six months ended June 30, 2025 and 2024, and from the inception of Project Matterhorn through June 30, 2025, are as follows:
THREE MONTHS ENDED JUNE 30,SIX MONTHS ENDED JUNE 30,FROM INCEPTION
THROUGH
JUNE 30, 2025
2025202420252024
Global RIM Business$11,648 $10,374 $22,711 $19,344 $93,318 
Global Data Center Business1,229 1,272 2,512 2,663 12,332 
Corporate and Other19,217 18,531 39,761 38,211 216,148 
Total other transformation costs
$32,094 $30,177 $64,984 $60,218 $321,798 
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, 2024 through June 30, 2025, is as follows:
RESTRUCTURINGOTHER TRANSFORMATIONTOTAL RESTRUCTURING AND OTHER TRANSFORMATION
Balance as of December 31, 2024
$6,974 $13,004 $19,978 
Amount accrued40,102 64,984 105,086 
Payments(33,199)(61,487)(94,686)
Balance as of June 30, 2025
$13,877 $16,501 $30,378