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Restructuring and Other Charges | 6 Months Ended
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Jun. 30, 2025
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 $5.3 million remained unpaid and were included in Accrued liabilities as of December 31, 2023. During the first half of 2024, we reduced our December 31, 2023 restructuring liability by approximately $5.1 million, primarily due to cash payments. 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 the second half of 2025. We incurred approximately $37.0 million in restructuring expenses, of which $13.0 million remained unpaid and were included in Accrued liabilities as of December 31, 2024. During the first half of 2025, we reduced our December 31, 2024 restructuring liability by approximately $12.9 million primarily due to cash payments, offset by approximately $2.0 million of additional restructuring expense recorded in Cost of net revenues. The 2023 and 2024 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):
|  | Six Months Ended June 30, |  |
|  | 2025 |  | 2024 |  |
Balance at beginning of period 1 |  | $ | 13,001 |  |  | $ | 5,299 |  |  |
Restructuring charges |  | 2,030 |  |  | (509) |  |  |
Cash payments and adjustments |  | (12,914) |  |  | (4,573) |  |  |
Balance at end of period 1 |  | $ | 2,117 |  |  | $ | 217 |  |  |
1 Included in “Accrued liabilities” within our Condensed 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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