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Restructuring Charges | 12 Months Ended
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Dec. 31, 2020
Restructuring and Related Activities [Abstract] |
Restructuring Charges | Restructuring Charges On May 26, 2020, the Company's Board of Directors approved a restructuring plan intended to reduce the Company's operating costs, optimize its business model, and address the impact of the COVID-19 pandemic. The restructuring plan included a global workforce reduction of approximately 8% and office closures. The Company recorded restructuring charges from these actions totaling $15,924,000 in 2020 which are included in “Restructuring charges” on the Consolidated Statements of Operation s. As of December 31, 2020, the majority of these actions were completed and no additional charges are expected to be incurred in future periods in relation to this restructuring plan. The following table summarizes the restructuring charges for the year ended December 31, 2020 (in thousands):
|  |  | Amount |  |
One-time termination benefits |  |  | $ | 10,159 |  |  |
Contract termination costs |  |  | 5,207 |  |  |
Other associated costs |  |  | 558 |  |  |
|  |  | $ | 15,924 |  |  |
One-time termination benefits included severance, health insurance, and outplacement services for 181 employees who were either terminated during the second quarter of 2020, or were notified during the second quarter of 2020 that they would be terminated at a future date. For employees not required to render service beyond a minimum retention period, the one-time termination benefits were recognized in the second quarter of 2020. Otherwise, these b enefits, including retention bonuses for selected employees, were recognized over the remaining service period which was completed by December 31, 2020. Contract termination costs included operating lease asset impairment charges for eleven offices closed prior to the end of the contractual lease term. These costs also included the write-off of leasehold improvements and other equipment related to these abandoned offices that had no alternative use, as well as other associated operating costs, such as utilities, that the Company is obligated to pay for the remainder of the lease term. These contract termination costs were primarily recognize d in the second quarter of 2020 when th e Company ceased using the property for economic benefit. Other associated costs primarily included legal fees related to the employee termination actions, which were recognized when the services were performed. The following table summarizes the activity in the Company’s restructuring reserve, which is included in “Accrued expenses” on the Consolidated Balance Sheets (in thousands):
| One-time Termination Benefits |  | Contract Termination Costs |  | Other Associated Costs |  | Total
Balance as of December 31, 2019 | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Restructuring charges | 11,329 |  |  | 5,220 |  |  | 636 |  |  | 17,185 |
Cash payments | (8,717) |  |  | (317) |  |  | (563) |  |  | (9,597) |
Non-cash restructuring charges | — |  |  | (4,163) |  |  | — |  |  | (4,163) |
Restructuring adjustments | (1,170) |  |  | (13) |  |  | (78) |  |  | (1,261) |
Foreign exchange rate changes | 182 |  |  | 23 |  |  | 20 |  |  | 225 |
Balance as of December 31, 2020 | $ | 1,624 |  |  | $ | 750 |  |  | $ | 15 |  |  | $ | 2,389 |
Restructuring adjustments related to one-time termination benefits consisted primarily of the favorable true-up of severance estimates based on final agreements and health insurance estimates based on employee elections.

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -URI http://asc.fasb.org/topic&trid=2175745 + Details
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