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Other Charges

12 Months Ended

Jan. 31, 2022

Notes to Financial Statements

Other Charges

Note 20 - Other Charges

Other charges are comprised of acquisition-related costs, contingent consideration adjustments and restructuring initiatives which have been undertaken from time to time under various restructuring plans. Acquisition-related costs primarily include

advisory services, administrative costs and retention bonuses to employees joining by way of an acquisition, and collectively relate to completed and prospective acquisitions.

The following tables shows the components of other charges as follows:

​

​	​	​	​	​	​	​
Year Ended		January 31,		January 31,		January 31,
​		2022		2021		2020
Acquisition-related costs		1,904		1,981		3,457
Contingent consideration adjustments		4,458		(1,946)		340
Restructuring plans		66		2,300		—
​		6,428		2,335		3,797

​

Fiscal 2021 Restructuring Plan

In the second quarter of fiscal 2021, management approved and began to implement a restructuring plan (the “Fiscal 2021 Restructuring Plan”) to reduce operating expenses. To date, $2.4 million has been recorded within other charges in conjunction with this restructuring plan. These charges are comprised of workforce reduction and the accelerated ROU asset amortization associated with certain office closures. This plan is substantially complete with a nominal amount of future expected office closure costs.

The following table shows the changes in the restructuring provision for the Fiscal 2021 Restructuring Plan:

​

​	​	​	​	​	​	​
​	​	Workforce	​	​	​	​
​		Reduction		Office Closures		Total
Balance at January 31, 2020		—		—		—
Accruals and adjustments		1,717		583		2,300
Cash draw downs		(1,657)		(583)		(2,240)
Foreign exchange		10		—		10
Balance at January 31, 2021		70		—		70
Accruals and adjustments		2		64		66
Cash draw downs		(72)		(64)		(136)
Balance at January 31, 2022		—		—		—

​

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- Definition

The entire disclosure for other income or other expense items (both operating and nonoperating). Sources of nonoperating income or nonoperating expense that may be disclosed, include amounts earned from dividends, interest on securities, profits (losses) on securities, net and miscellaneous other income or income deductions.

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-Publisher FASB
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