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Restructuring charges

12 Months Ended

Dec. 31, 2021

Restructuring and Related Activities [Abstract]

Restructuring charges

Restructuring charges

A restructuring charge of $31.1 million was recognized during the year ended December 31, 2021 under a restructuring plan adopted following a review of operations. The restructuring plan reflected resource rationalization across the business to improve employee utilization and an office consolidation program to optimize the Company's office footprint. The restructuring plan resulted in a charge of $4.8 million relating to workforce reductions, an impairment of ROU assets and associated unavoidable costs totaling $21.9 million and fixed asset impairment of $4.4 million.

			Year Ended
			December 31, 2021			December 31, 2020			December 31, 2019
			(in thousands)
Restructuring charges			$	31,105		$	18,089		$	—
Net charge			$	31,105		$	18,089		$	—

At December 31, 2021, a total liability of $28.4 million was on the Consolidated Balance Sheet relating to restructuring activities. The total liability included $23.2 million from lease and lease related liabilities of which $10.4 million is included within other liabilities and $12.8 million is included within non-current operating lease liabilities. The remaining provision of $5.2 million relates to workforce reduction and is included within other liabilities.

			Year Ended
			December 31, 2021			December 31, 2020			December 31, 2019
			(in thousands)
Opening provision			$	10,748		$	1,637		$	6,419
Additional provision in the year			26,674			18,089			—
Utilization			(9,069)			(8,978)			(4,782)
Ending provision			$	28,353		$	10,748		$	1,637

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- References

No definition available.

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- Definition

The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 5.P.4(e))
-URI http://asc.fasb.org/extlink&oid=115931487&loc=d3e140904-122747

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-URI http://asc.fasb.org/topic&trid=2175745

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869

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