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Realignment Costs

6 Months Ended

Jun. 30, 2024

Postemployment Benefits [Abstract]

Realignment Costs

Realignment Costs

During the fourth quarter of 2023, the Company approved a strategic realignment program to better serve the Company’s accounts and to better align resources with the strategy of the business, including reinvestment in go-to-market functions, as well as in artificial intelligence product development (the “2023 Program”). The Company incurred realignment costs of $12,579 for the year ended December 31, 2023 related to the aforementioned program, which represents termination benefits for colleagues whose roles were impacted. During the three and six months ended June 30, 2024, the Company incurred realignment costs of $843 and $867, respectively, related to the aforementioned program. The 2023 Program activities have been broadly implemented across the Company’s various businesses, which were substantially completed by the end of the second quarter of 2024. The Company expects the remaining termination benefits to be paid by the end of the third quarter of 2024.

Realignment costs by expense classification were as follows:

			Three Months Ended						Six Months Ended
			June 30, 2024						June 30, 2024
Cost of revenues:
Cost of subscriptions and licenses			$	1,307					$	1,227
Cost of services			(138)						(107)
Total cost of revenues			1,169						1,120
Operating expenses:
Research and development			(65)						(136)
Selling and marketing			(203)						475
General and administrative			(58)						(592)
Total operating expenses			(326)						(253)
Total realignment costs			$	843					$	867

Accruals and other current liabilities in the consolidated balance sheets included amounts related to the realignment activities as follows:

Balance, December 31, 2023			$	12,459
Realignment costs			867
Payments			(11,488)
Adjustments (1)			(287)
Balance, June 30, 2024			$	1,551

(1)Adjustments include foreign currency translation.

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- References

No definition available.

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- Definition

The entire disclosure for postemployment benefits, which may include supplemental unemployment benefits, obligations recognized for all types of benefits provided to former or inactive employees, their beneficiaries, and covered dependents after employment but before retirement. Disclosure may also include discussion that an obligation for postemployment benefits is not accrued in accordance with regulation only because the amount cannot be reasonably estimated.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 712
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/712/tableOfContent

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 712
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481565/712-10-50-2

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