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Restructuring | 12 Months Ended
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Jan. 03, 2025
Restructuring and Related Activities [Abstract] |
RESTRUCTURING | RESTRUCTURING In January 2024, our Board of Directors authorized, and we implemented, a corporate restructuring plan (the 2024 Restructuring Plan) to reduce our workforce and rebalance our cost structure in alignment with our strategic priorities. Restructuring expenses incurred under the 2024 Restructuring Plan include: severance and employee-related costs; impairment of long-lived assets; and contract termination and other exit costs. The total restructuring costs, incurred during the year ended December 31, 2024, associated with the 2024 Restructuring Plan were $33.7 million and were recorded to the restructuring expense line item within our Consolidated Statements of Income as they were incurred through the end of the plan. We incurred the majority of the costs related to the 2024 Restructuring Plan during the first quarter of 2024. In connection with the 2024 Restructuring Plan, we exited two leases in the Greater Philadelphia area and the right-of-use assets, related leasehold improvements and certain other long-lived assets were remeasured and recorded at fair value, see “Note 12. Commitments and Contingencies” for additional information. The restructuring activities and balances as of and for the year ended December 31, 2024, were as follows (in thousands):
|  |  | Year Ended December 31, 2024 |  |  |  |  |  |
| Accrued at December 31, 2023 |  | Initial Costs |  | Adj. to Costs(2) |  | Non-cash charges |  | Cash Payments |  | Accrued at December 31, 2024(3) |  | Total Costs Incurred to Date |  | Total Expected Plan Costs
Severance and employee-related costs | $ | — |  |  | $ | 15,656 |  |  | $ | 69 |  |  | $ | — |  |  | $ | (15,469) |  |  | $ | 256 |  |  | $ | 15,725 |  |  | $ | 15,725 |
Contract termination and other exit costs(1) | — |  |  | 5,220 |  |  | (4) |  |  | — |  |  | (5,216) |  |  | — |  |  | 5,216 |  |  | 5,216 |
Impairment of long-lived assets | — |  |  | 12,318 |  |  | 401 |  |  | (12,719) |  |  | — |  |  | — |  |  | 12,719 |  |  | 12,719 |
Total restructuring | $ | — |  |  | $ | 33,194 |  |  | $ | 466 |  |  | $ | (12,719) |  |  | $ | (20,685) |  |  | $ | 256 |  |  | $ | 33,660 |  |  | $ | 33,660 |
__________________ (1) Contract termination costs consist of accruals for costs incurred without future economic benefit, and other exit costs expensed as incurred. (2) Adjustments to costs consist of changes in estimates whereby increases and decreases in costs were recorded to operating expenses in the period of adjustments. (3) As of December 31, 2024, all restructuring liabilities have been recorded in accrued compensation and benefits in the accompanying Consolidated Balance Sheets.

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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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