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Acquisition, Integration and Restructuring Costs | 6 Months Ended
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May 31, 2022
Restructuring and Related Activities [Abstract] |
ACQUISITION, INTEGRATION AND RESTRUCTURING COSTS | ACQUISITION, INTEGRATION AND RESTRUCTURING COSTS: Acquisition, integration and restructuring costs are primarily comprised of costs related to the Merger and costs related to the Global Business Optimization 2 Program initiated by Tech Data prior to the Merger (the “GBO 2 Program”). The Merger The Company incurred acquisition, integration and restructuring costs related to the completion of the Merger, including professional services costs, personnel and other costs, long-lived assets charges and stock-based compensation expense. Professional services costs are primarily comprised of legal expenses and tax and other consulting services. Personnel and other costs are primarily comprised of costs related to retention and other bonuses, as well as severance costs. Long-lived assets charges are comprised of accelerated depreciation and amortization expense of $52.9 million recorded due to changes in asset useful lives in conjunction with the consolidation of certain IT systems. Stock-based compensation expense primarily relates to costs associated with the conversion of certain Tech Data performance-based equity awards issued prior to the Merger into restricted shares of TD SYNNEX (refer to Note 5 - Share-Based Compensation for further information) and expenses for certain restricted stock awards issued in conjunction with the Merger. During the three and six months ended May 31, 2022 and May 31, 2021, acquisition and integration expenses related to the Merger were composed of the following:
| Three Months Ended |  | Six Months Ended
| May 31, 2022 |  | May 31, 2021 |  | May 31, 2022 |  | May 31, 2021
Professional services costs | $ | 5,793 |  |  | $ | 3,995 |  |  | $ | 13,941 |  |  | $ | 3,995 |
Personnel and other costs | 4,404 |  |  | 1,940 |  |  | 15,348 |  |  | 1,940 |
Long-lived assets charges | — |  |  | — |  |  | 52,871 |  |  | — |
Stock-based compensation | 12,889 |  |  | — |  |  | 26,465 |  |  | — |
Total | $ | 23,086 |  |  | $ | 5,935 |  |  | $ | 108,625 |  |  | $ | 5,935 |
GBO 2 Program Prior to the Merger, Tech Data implemented its GBO 2 Program that includes investments to optimize and standardize processes and apply data and analytics to be more agile in a rapidly evolving environment, increasing productivity, profitability and optimizing net-working capital. TD SYNNEX plans to continue this program in conjunction with the Company’s integration activities. Acquisition, integration and restructuring expenses related to the GBO 2 Program are primarily comprised of restructuring costs and other costs. Restructuring costs are comprised of severance costs and other associated exit costs, including certain consulting costs. Other costs are primarily comprised of personnel costs, facilities costs and certain professional services fees not related to restructuring activities. Acquisition, integration and restructuring costs under the GBO 2 Program for fiscal 2022 included the following:
|  | Three Months Ended |  | Six Months Ended
|  | May 31, 2022 |  | May 31, 2022
Restructuring costs |  | $ | 4,738 |  |  | $ | 10,784 |
Other costs |  | 4,654 |  |  | 6,439 |
Total |  | $ | 9,392 |  |  | $ | 17,223 |
Restructuring costs under the GBO 2 Program for fiscal 2022 were composed of the following:
|  | Three Months Ended |  | Six Months Ended
|  | May 31, 2022 |  | May 31, 2022
Severance |  | $ | 742 |  |  | $ | 1,101 |
Other exit costs |  | 3,996 |  |  | 9,683 |
Total |  | $ | 4,738 |  |  | $ | 10,784 |
Restructuring costs related to the GBO 2 Program by segment are as follows:
|  | Three Months Ended |  | Six Months Ended
|  | May 31, 2022 |  | May 31, 2022
Americas |  | $ | 1,582 |  |  | $ | 3,422 |
Europe |  | 3,073 |  |  | 6,945 |
APJ |  | 83 |  |  | 417 |
Total |  | $ | 4,738 |  |  | $ | 10,784 |
Restructuring activity during the six months ended May 31, 2022 related to the GBO 2 Program is as follows:
|  | Severance and Benefits |  | Other Exit Costs |  | Total
Accrued balance as of November 30, 2021 |  | $ | 4,918 |  |  | $ | 1,591 |  |  | $ | 6,509 |
Expenses |  | 1,101 |  |  | 9,683 |  |  | 10,784 |
Cash payments |  | (4,176) |  |  | (10,309) |  |  | (14,485) |
Foreign currency translation |  | (89) |  |  | (242) |  |  | (331) |
Accrued balance as of May 31, 2022 |  | $ | 1,754 |  |  | $ | 723 |  |  | $ | 2,477 |

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- Definition The entire description for costs incurred to effect a business combination that have been expensed during the period. Such costs could include business integration costs, systems integration and conversion costs, and severance and other employee-related costs. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -URI https://asc.fasb.org/topic&trid=2303972 + Details
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