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Other Charges

6 Months Ended

Jul. 31, 2024

Other Charges

Other Charges

Note 19 - 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. Contingent consideration adjustments relate to changes in anticipated acquisition earnout payment accruals primarily as a result of increases or decreases to revenue performance and forecasts. Revenue forecasts are updated on a quarterly basis and the related earnout payment accruals are updated accordingly.

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

​

​	​	​	​	​	​	​	​	​
​		Three Months Ended				Six Months Ended
​	​	July 31,		July 31,	​	July 31,		July 31,
​	​	2024	​	2023	​	2024	​	2023
Acquisition-related costs		1,311		391		3,389		1,719
Contingent consideration accretion and adjustments		(1,247)		2,064		541		2,667
Restructuring plans		86		—		138		2
​		150		2,455		4,068		4,388

​

Fiscal 2024 Restructuring Plan

​

In the third quarter of fiscal 2024, management approved and began to implement the fiscal 2024 restructuring plan to reduce operating expenses and increase operating margins. To date, $1.8 million has been recorded within other charges in conjunction with this restructuring plan. These charges are comprised of office closures and workforce reduction charges. As of July 31, 2024, we expect total remaining office closures and workforce reduction costs to be incurred of approximately $0.1 million to $0.2 million.

​

The following table shows the changes in the restructuring provision for the fiscal 2024 restructuring plan:

​

​	​	​	​	​	​	​
​	​	Workforce	​	Office	​	​
​		Reduction		Closures		Total
Balance at January 31, 2024		442		—		442
Accruals and adjustments		57		81		138
Cash draw downs		(378)		(81)		(459)
Non-cash draw downs and foreign exchange		(7)		—		(7)
Balance at July 31, 2024		114		—		114

​

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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.

+ References

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-Topic 610
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-Topic 720
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