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Restructuring and Other Charges | 12 Months Ended
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Dec. 31, 2024
Restructuring and Related Activities [Abstract] |
Restructuring and Other Charges | Restructuring and Other Charges 2023 Restructuring During the fourth quarter of 2023, we incurred approximately $14.0 million in restructuring expenses, of which $0.7 million was recorded in Cost of net revenues and $13.3 million was recorded in Restructuring and other charges. Our fourth quarter 2023 restructuring activities were substantially complete by the third quarter of 2024. 2024 Restructuring During the fourth quarter of 2024, we initiated a restructuring plan to increase efficiencies across the organization which is expected to be completed in 2025. We incurred approximately $37.0 million in restructuring expenses, of which $3.8 million was recorded in Cost of net revenues and $33.2 million was recorded in Restructuring and other charges. These restructuring activities were primarily related to employee severance and other one-time post-employment benefits. Activity related to the restructuring liabilities associated with our restructuring initiatives consist of the following (in thousands):
|  | Restructuring and other charges |  |  |  |
Balance as of December 31, 2022 1 |  | $ | 3,916 |  |  |  |  |
Restructuring charges |  | 13,989 |  |  |  |  |
Cash payments and adjustments |  | (12,606) |  |  |  |  |
Balance as of December 31, 2023 1 |  | 5,299 |  |  |  |  |
Restructuring charges 2 |  | 36,393 |  |  |  |  |
Cash payments and adjustments |  | (28,691) |  |  |  |  |
Balance as of December 31, 2024 1 |  | $ | 13,001 |  |  |  |  |
1 Included in “Accrued liabilities” within our Consolidated Balance Sheets. 2 Includes approximately $0.6 million of restructuring expense decreases related to the 2023 restructuring.

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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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