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Restructuring
 12 Months Ended
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 $33.7 million and were recorded to the restructuring expense line item within our Consolidated Statements of Income as they were incurred through the end of the plan. We incurred the majority of the costs related to the 2024 Restructuring Plan during the first quarter of 2024.
In connection with the 2024 Restructuring Plan, we exited two leases in the Greater Philadelphia area and the right-of-use assets, related leasehold improvements and certain other long-lived assets were remeasured and recorded at fair value, see “Note 12. Commitments and Contingencies” for additional information.
The restructuring activities and balances as of and for the year ended December 31, 2024, were as follows (in thousands):
Year Ended December 31, 2024
Accrued at December 31, 2023Initial Costs
Adj. to Costs(2)
Non-cash chargesCash Payments
Accrued at December 31, 2024(3)
Total Costs Incurred to DateTotal Expected Plan Costs
Severance and employee-related costs$— $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 
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(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.