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Note 6 - Restructuring | 9 Months Ended
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Sep. 30, 2023
Notes to Financial Statements |
Restructuring and Related Activities Disclosure [Text Block] | Note 6 - Restructuring In the third quarter of 2023, our management approved and executed an internal restructuring plan (the “Q3 2023 Plan”), which included a targeted workforce reduction intended to reorganize critical roles and focus skillsets in key growth markets. We incurred restructuring costs of approximately $1.5 million during the third quarter and first nine months of fiscal 2023. Under this plan, approximately $1.5 million of total costs have been incurred through September 30, 2023. The Q3 2023 plan is expected to be largely complete by the end of fiscal year 2024. Under the Q2 2019 Sales Plan, which is described in the 2022 10-K, we incurred no restructuring costs in the third quarter or first nine months of fiscal 2023. In September 2022, our management approved and implemented additional contract cancellations and headcount reductions under the Q2 2019 Sales Plan, which focused on a restructuring of the global sales organization. With these actions, we incurred approximately $1.0 million of incremental restructuring costs in the third quarter and first nine months of fiscal 2022. Under this plan, approximately $3.1 million of total costs have been incurred through September 30, 2023. All actions planned under the Q2 2019 Sales Plan have been implemented. Under the June 2017 Plan, which is described in the 2022 10-K, we incurred less than $0.1 million of restructuring costs in the third quarter of fiscal 2023 and approximately $0.1 million of restructuring costs in the first nine months of fiscal 2023. We incurred approximately $1.1 million of incremental restructuring costs in the third quarter of fiscal 2022 related to an impairment of the operating lease right-of-use asset for our partially vacated facility in San Jose, California. Including these costs, we incurred restructuring costs of approximately $1.3 million and approximately $1.6 million during the third quarter and first nine months, respectively, of fiscal 2022. Under this plan, approximately $23.3 million of total costs have been incurred through September 30, 2023. All actions planned under the June 2017 Plan have been implemented. These costs, and adjustments on previous plans, are recorded to Restructuring on our Consolidated Statements of Operations. The restructuring accrual balance is presented in Accrued liabilities and in Other long-term liabilities on our Consolidated Balance Sheets. The following table displays the activity related to our restructuring plans:
(In thousands) |  | Severance & Related (1) |  |  | Lease Termination & Fixed Assets |  |  | Other (2) |  |  | Total |
Accrued Restructuring at December 31, 2022 |  | $ | 400 |  |  | $ | 5,892 |  |  | $ | 640 |  |  | $ | 6,932 |
Restructuring |  |  | 1,365 |  |  |  | 58 |  |  |  | 4 |  |  |  | 1,427 |
Costs paid or otherwise settled |  |  | (446 | ) |  |  | (1,083 | ) |  |  | (24 | ) |  |  | (1,553 | )
Accrued Restructuring at September 30, 2023 |  | $ | 1,319 |  |  | $ | 4,867 |  |  | $ | 620 |  |  | $ | 6,806 |
Accrued Restructuring at January 1, 2022 |  | $ | 251 |  |  | $ | 7,130 |  |  | $ | — |  |  | $ | 7,381 |
Restructuring |  |  | 303 |  |  |  | 1,562 |  |  |  | 640 |  |  |  | 2,505 |
Costs paid or otherwise settled |  |  | (154 | ) |  |  | (2,477 | ) |  |  | — |  |  |  | (2,631 | )
Accrued Restructuring at October 1, 2022 |  | $ | 400 |  |  | $ | 6,215 |  |  | $ | 640 |  |  | $ | 7,255 |
(1) | Includes employee relocation and outplacement costs
(2) | Includes termination fees on the cancellation of certain contracts

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