XML 36 R21.htm IDEA: XBRL DOCUMENT v3.25.0.1
Restructuring
 12 Months Ended
Dec. 31, 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 ("Q3 2024 Action"). As a result, certain headcount reductions were necessary. Additionally, the Company planned for the end of life of certain solutions which resulted in impairments to capitalized internal-use software, as well as completed technologies and customer-related acquired intangible assets. 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 ("Q1 2023 Action"). As a result, certain headcount reductions were necessary. The Company does not anticipate incurring any material additional charges related to this action.

The Company launched its FlexBase program in May 2022, which is a flexible workplace arrangement that allows employees to choose to work from their home office, a Company office, an approved workspace, or a combination of all three, which is a significant change to the way employees worked prior to the program. As a result, impairments of right-of-use assets and property and equipment were recognized. The Company does not expect to incur any material additional charges related to this action.

As a result of MUFG’s suspension of GO-NET’s operations, the Company recognized a restructuring charge during the year ended December 31, 2022. This charge primarily related to the impairment of certain capitalized internal-use software assets that were no longer used in operations or were unable to generate sufficient future cash flows to support their carrying values. The Company does not anticipate incurring any additional charges related to this action.

At times 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. The Company does not expect to incur material additional charges related to past acquisitions.

The following table summarizes the Company's restructuring charges during the years ended December 31, 2024, 2023 and 2022 (in thousands):

202420232022
Q3 2024 Action$63,398 $— $— 
Q1 2023 Action— 20,668 — 
FlexBase1,717 27,654 3,637 
GO-NET
— — 7,490 
Acquisitions related and other
30,326 8,321 2,402 
Total restructuring charge
$95,441 $56,643 $13,529 
The changes in the Company's accrual for employee severance and related expenses, included in other current liabilities, for all restructuring actions during the years ended December 31, 2024, 2023 and 2022 were as follows (in thousands):

Q3 2024 ActionQ1 2023 ActionGO-NET
Acquisitions Related and Other
Total
Balance as of January 1, 2022
$— $— $— $1,188 $1,188 
Cost incurred
— — 224 523 747 
Cash disbursements
— — (180)(1,029)(1,209)
Translation adjustments and other
— — (44)(141)(185)
Balance as of December 31, 2022
— — — 541 541 
Cost incurred— 20,668 — 417 21,085 
Cash disbursements— (19,798)— (950)(20,748)
Translation adjustments and other— (51)— 10 (41)
Balance as of December 31, 2023
— 819 — 18 837 
Cost incurred34,447 — — 2,360 36,807 
Cash disbursements(9,326)(60)— (1,394)(10,780)
Translation adjustments and other(515)(1)— 3 (513)
Balance as of December 31, 2024
$24,606 $758 $— $987 $26,351