XML 216 R16.htm IDEA: XBRL DOCUMENT v3.22.2
Restructuring and Acquisition Charges
 6 Months Ended
Jun. 30, 2022
Restructuring Cost and Reserve [Line Items]  
Restructuring and Related Activities Disclosure [Text Block] RESTRUCTURING AND ACQUISITION CHARGES
Restructuring and acquisition charges include cash and non-cash expenses. Cash-based charges primarily consist of (i) severance and employment-related charges, including those related to external service providers, incurred in conjunction with a structural business shift, which can be represented by a notable change in headcount, change in leadership, or transformation of business processes, (ii) acquisition, transaction and integration-related charges, and (iii) other restructuring, including lease exit charges. Non-cash charges include (i) stock-based compensation expense for retention awards issued in conjunction with the HFF, Inc. ("HFF") acquisition and (ii) fair value adjustments to earn-out liabilities relating to prior-period acquisition activity. Restructuring and acquisition charges are presented in table below.
Three Months Ended June 30,Six Months Ended June 30,
(in millions)2022202120222021
Severance and other employment-related charges$8.3 (0.9)$11.6 0.9 
Restructuring, pre-acquisition and post-acquisition charges13.9 11.9 28.1 21.4 
Stock-based compensation expense for HFF retention awards2.7 6.0 5.4 12.0 
Fair value adjustments to earn-out liabilities1.0 1.1 0.3 1.0 
Restructuring and acquisition charges$25.9 18.1 $45.4 35.3 
We expect nearly all expenses related to (i) severance and other employment-related charges and (ii) restructuring, pre-acquisition and post-acquisition charges as of June 30, 2022 will be paid during the next twelve months.