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RESTRUCTURING (Tables)

12 Months Ended

Dec. 31, 2023

Restructuring and Related Activities [Abstract]

Restructuring and Related Costs

A summary of the restructuring charges recognized related to the 2022 Restructuring Program is presented below (in thousands):

			Twelve Months Ended December 31,
			2023						2022
Severance(1)			$	14,358					$	18,872
Other personnel expenses(1)			1,814						2,662
Other selling, general, and administrative expenses(2)			1,304						15,150
Total			$	17,476					$	36,684

________________________________ 

(1) Amounts are included within personnel expenses in our consolidated statement of operations and comprehensive income.

(2) Amounts include impairment of certain capitalized internally developed software projects and other miscellaneous exit costs, which are included within other selling, general, and administrative expenses in our consolidated statement of operations and comprehensive income.

The following table summarizes restructuring charges by reportable segment related to the 2022 Restructuring Program for the twelve months ended December 31, 2023 and December 31, 2022 (in thousands):

Twelve Months Ended December 31, 2023						NAST						Global Forwarding						All Other and Corporate						Consolidated
Personnel expenses						$	1,083					$	2,176					$	12,913					$	16,172
Other selling, general, and administrative expenses						8						197						1,099						1,304

Twelve Months Ended December 31, 2022						NAST						Global Forwarding						All Other and Corporate						Consolidated
Personnel expenses						$	6,323					$	3,831					$	11,380					$	21,534
Other selling, general, and administrative expenses						3,175						3,174						8,801						15,150

We recognized $21.2 million of net restructuring charges related to our South American Restructuring Program as presented below (in thousands):

						Twelve Months Ended December 31,
						2023
Severance and other personnel expenses(1)						$	2,237
Loss on disposal and exit activities including asset impairments(2)						18,328
Other miscellaneous expenses(3)						1,420
Income tax benefits(4)						(795)
Total						$	21,190

________________________________ 

(1) Amounts are included within personnel expenses in our condensed consolidated statements of operations and comprehensive income.

(2) Amounts are included within other selling, general, and administrative expenses in our condensed consolidated statements of operations and comprehensive income.

(3) Amounts are included within interest and other expenses in our condensed consolidated statements of operations and comprehensive income.

(4) Amounts are included within provision for income taxes in our condensed consolidated statements of operations and comprehensive income.

The following table summarizes restructuring charges related to our South American Restructuring Program by reportable segment (in thousands):

			Twelve Months Ended December 31, 2023
			NAST						Global Forwarding						All Other and Corporate						Consolidated
Severance and other personnel expenses(1)			$	—					$	1,641					$	596					$	2,237
Loss on disposal and exit activities including asset impairments(2)			—						17,961						367						18,328
Other miscellaneous expenses(3)			—						1,420						—						1,420
Income tax benefits(4)			—						(795)						—						(795)

________________________________ 

(1) Amounts are included within personnel expenses in our condensed consolidated statements of operations and comprehensive income.

(2) Amounts are included within other selling, general, and administrative expenses in our condensed consolidated statements of operations and comprehensive income.

(3) Amounts are included within interest and other expenses in our condensed consolidated statements of operations and comprehensive income.

(4) Amounts are included within provision for income taxes in our condensed consolidated statements of operations and comprehensive income.

Schedule of Restructuring Reserve by Type of Cost

The following table summarizes the activity related to our 2022 Restructuring Program and reserves included in our consolidated balance sheets (in thousands):

			Accrued Severance and Other Personnel Expenses						Other Selling, General, and Administrative Expenses									Total
Balance, December 31, 2022			$	18,976					$	—								$	18,976
Restructuring charges			16,172						1,304									17,476
Cash payments			(30,477)						(415)									(30,892)
Settled non-cash			—						(907)									(907)
Accrual adjustments(1)			(888)						18									(870)
Balance, December 31, 2023			$	3,783					$	—								$	3,783

________________________________ 

(1) Accrual adjustments primarily relate to changes in estimates for certain employee termination costs, including those settling for an amount different than originally estimated and foreign currency adjustments.

The following table summarizes activity related to our South American Restructuring Program and reserves included in our consolidated balance sheets (in thousands):

			Accrued Severance and Other Personnel Expenses						Accrued Other Selling, General, and Administrative Expenses									Total
Balance, December 31, 2022			$	—					$	—								$	—
Restructuring charges			2,237						18,328									20,565
Cash payments			(2,237)						—									(2,237)
Divestiture of Argentine operations									(18,328)									(18,328)
Balance, December 31, 2023			$	—					$	—								$	—

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Tabular disclosure of costs incurred for restructuring including, but not limited to, exit and disposal activities, remediation, implementation, integration, asset impairment, and charges against earnings from the write-down of assets.

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Tabular disclosure of an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost. This element may also include a description of any reversal and other adjustment made during the period to the amount of an accrued liability for restructuring activities. This element may be used to encapsulate the roll forward presentations of an entity's restructuring reserve by type of cost and in total, and explanation of changes that occurred in the period.

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Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
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-Name Accounting Standards Codification
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