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RESTRUCTURING (Tables)

6 Months Ended

Jun. 30, 2024

2024 Restructuring Program

Restructuring Cost and Reserve [Line Items]

Restructuring and Related Costs

A summary of charges related to our 2024 Restructuring Program are presented below (in thousands):

			Three Months Ended June 30,						Six Months Ended June 30,
			2024						2024
Severance(1)			$	8,799					$	16,213
Other personnel expenses(1)			670						1,198
Other selling, general, and administrative expenses(2)			5,740						10,709
Total			$	15,209					$	28,120

________________________________ 

(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. The charges recognized in the three months ended June 30, 2024, primarily resulted from the second phase of the 2024 Restructuring Program while the charges recognized in the six months ended June 30, 2024, also include initiatives under the first phase of the 2024 Restructuring Program as discussed above.

The following table summarizes restructuring charges by reportable segment (in thousands):

			Three Months Ended June 30, 2024
			NAST						Global Forwarding						All Other and Corporate						Consolidated
Personnel expenses			$	4,758					$	2,203					$	2,508					$	9,469
Other selling, general, and administrative expenses			3,776						1,327						637						5,740

			Six Months Ended June 30, 2024
			NAST						Global Forwarding						All Other and Corporate						Consolidated
Personnel expenses			$	7,784					$	5,395					$	4,232					$	17,411
Other selling, general, and administrative expenses			5,654						1,559						3,496						10,709

Schedule of Restructuring Reserve by Type of Cost

The following table summarizes activity related to our 2024 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, 2023			$	—					$	—								$	—
Restructuring charges			17,411						10,709									28,120
Cash payments			(10,300)						(394)									(10,694)
Settled non-cash			—						(10,030)									(10,030)
Accrual adjustments(1)			(449)						—									(449)
Balance, June 30, 2024			$	6,662					$	285								$	6,947

________________________________ 

(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.

2022 Restructuring Program

Restructuring Cost and Reserve [Line Items]

Restructuring and Related Costs

A summary of charges related to our 2022 Restructuring Program are presented below (in thousands):

			Three Months Ended June 30,						Six Months Ended June 30,
			2023						2023
Severance(1)			$	11,681					$	14,819
Other personnel expenses(1)			1,446						1,906
Other selling, general, and administrative expenses(2)			1,005						1,129
Total			$	14,132					$	17,854

________________________________ 

(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.

The following table summarizes restructuring charges by reportable segment (in thousands):

			Three Months Ended June 30, 2023
			NAST						Global Forwarding						All Other and Corporate						Consolidated
Personnel expenses			$	327					$	691					$	12,109					$	13,127
Other selling, general, and administrative expenses			4						39						962						1,005

			Six Months Ended June 30, 2023
			NAST						Global Forwarding						All Other and Corporate						Consolidated
Personnel expenses			$	1,156					$	2,229					$	13,340					$	16,725
Other selling, general, and administrative expenses			4						163						962						1,129

Schedule of Restructuring Reserve by Type of Cost

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

			Accrued Severance and Other Personnel Expenses
Balance, December 31, 2023			$	3,783
Restructuring charges			12
Cash payments			(2,970)
Accrual adjustments(1)			(173)
Balance, June 30, 2024			$	652

________________________________ 

(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.

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