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Restructuring | 9 Months Ended
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Sep. 30, 2024
Restructuring and Related Activities [Abstract] |
Restructuring | Restructuring During the third quarter of 2024, management committed to an action to restructure certain parts of the Company with the primary intent of redeploying resources to support the Company's strategic investments. As a result, certain headcount reductions were necessary. Additionally, the Company planned for the end of life of certain solutions which resulted in impairments of completed technologies and customer-related acquired intangible assets, as well as capitalized internal-use software. During the three and nine months ended September 30, 2024, the Company incurred $54.3 million of restructuring charges related to this action, including $39.8 million for employee severance and related expenses. The Company does not expect to incur material additional charges related to this action. During the first quarter of 2023, management committed to an action to restructure certain parts of the Company to enable it to prioritize investments in the fastest growing areas of the business. As a result, certain headcount reductions were necessary. The Company has incurred $20.7 million of restructuring charges related to this action, of which $21.0 million was incurred during the nine months ended September 30, 2023. There were no significant charges incurred during the three and nine months ended September 30, 2024, and the Company does not expect to incur material additional charges related to this action. The Company launched its FlexBase program in May 2022, which is a flexible workspace arrangement that allows employees to choose to work from their home office, a Company office or a combination of both, which is a significant change to the way employees worked prior to the program. The Company began to identify certain facilities that were no longer needed in the fourth quarter of 2021. As a result, impairments of right-of-use assets and leasehold improvements were recognized. No significant charges were incurred during the three months ended September 30, 2024. The Company has incurred $36.8 million of restructuring charges related to this action, of which $1.7 million was incurred during the nine months ended September 30, 2024, and $2.1 million and $27.4 million was incurred during the three and nine months ended September 30, 2023, respectively. The Company does not expect to incur material additional charges related to the FlexBase program. The Company also recognizes restructuring charges related to completed acquisitions for severance and related expenses paid to redundant employees, fees paid to terminate redundant contracts and impairments of redundant long-lived assets, primarily duplicative facility-related assets, acquired intangible assets and capitalized internal-use software. Restructuring charges related to acquisitions were $27.0 million and $26.9 million during the three and nine months ended September 30, 2024, including $1.0 million and $1.1 million for employee severance and related expenses, respectively. The restructuring charges related to acquisitions during the three and nine months ended September 30, 2023 were $0.0 and $8.2 million , respectively. The changes in the Company's accrual for employee severance and related expenses, included in other current liabilities, for all restructuring actions for the nine months ended September 30, 2024 were as follows (in thousands):
Balance as of January 1, 2024 | $ | 837 |
Costs incurred | 41,895 |
Cash disbursements | (746) |
Translation adjustments and other | 89 |
Balance as of September 30, 2024 | $ | 42,075 |

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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 -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4.e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479823/420-10-S99-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/420/tableOfContent Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 + Details
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