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RESTRUCTURING INITIATIVES | 12 Months Ended
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Dec. 31, 2024
Restructuring and Related Activities [Abstract] |
RESTRUCTURING INITIATIVES | RESTRUCTURING INITIATIVES For the years ended December 31, 2024, 2023 and 2022, we recognized $13.0 million, $45.4 million and $6.2 million, respectively, of restructuring costs related to our initiative to better leverage our fixed cost base through growth and cost reduction measures. The cumulative expense incurred as of December 31, 2024 was $64.7 million. As of December 31, 2024, we have recorded the following activity associated with our optimization initiative:
| Beginning Reserve at December 31, 2023 |  | Net Charges for the Year Ended December 31, 2024 |  | Cash Paid |  | Interest and FX Impact |  | Ending Reserve at December 31, 2024
Employee severance | $ | 27,078 |  |  | $ | 6,562 |  |  | $ | (23,791) |  |  | $ | (688) |  |  | $ | 9,161 |
Professional fees and other costs | 2,810 |  |  | 6,457 |  |  | (8,559) |  |  | 88 |  |  | 796 |
Totals | $ | 29,888 |  |  | $ | 13,019 |  |  | $ | (32,350) |  |  | $ | (600) |  |  | $ | 9,957 |
As of December 31, 2023, we recorded the following activity associated with our optimization initiative:
| Beginning Reserve at December 31, 2022 |  | Net Charges for the Year Ended December 31, 2023 |  | Cash Paid |  | Interest and FX Impact |  | Ending Reserve at December 31, 2023
Employee severance | $ | 4,993 |  |  | $ | 37,167 |  |  | $ | (12,608) |  |  | $ | (2,474) |  |  | $ | 27,078 |
Professional fees and other costs | — |  |  | 8,278 |  |  | (5,486) |  |  | 18 |  |  | 2,810 |
Totals | $ | 4,993 |  |  | $ | 45,445 |  |  | $ | (18,094) |  |  | $ | (2,456) |  |  | $ | 29,888 |

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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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