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Restructuring | 9 Months Ended
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Sep. 30, 2016
Restructuring and Related Activities [Abstract] |
Restructuring |
15. | Restructuring
In the first quarter of 2015, the Company commenced a restructuring initiative (the "2015 Restructuring Initiative") as a result of its global review of operations. The global review of operations identified certain initiatives to further streamline the business, improve the Company's efficiency, and to globalize the Company's operations, all with an objective to improve scale and increase profitability going forward. The Company continued its efforts to improve its overall operational efficiency and began a second restructuring initiative (the "2016 Restructuring Initiative") during the second quarter of 2016. In connection with the EFS acquisition, the Company initiated a restructuring program in the third quarter of 2016 (the "Acquisition Integration Restructuring Initiative"). The restructuring expenses related to these initiatives primarily consist of employee costs and office closure costs directly associated with the program. The Company has determined that the amount of expenses related to these initiatives are probable and estimable and has recorded the impact on the unaudited condensed consolidated statements of income and in Accrued expenses on the unaudited condensed consolidated balance sheet. The balance under the 2015 Restructuring Initiative is expected to be paid through 2017, the amount under the 2016 Restructuring Initiative is expected to be paid through 2018, and the amount under the Acquisition Integration Restructuring Initiative is expected to be paid through 2017. The Company expects to incur an additional $3,000 in restructuring costs related to the 2015 Restructuring Initiative, an additional $900 in restructuring costs related to the 2016 Restructuring Initiative, and an additional $1,300 in restructuring costs related to the Acquisition Integration Restructuring Initiative. The following table presents the Company's 2015 Restructuring Initiative liability for the three and nine months ended September 30, 2016 and 2015:
| Three Months Ended September 30, | Nine Months Ended September 30,
| 2016 |  | 2015 | 2016 |  | 2015
Beginning balance | $ | 7,085 |  |  | $ | 8,822 |  | $ | 7,249 |  |  | $ | — |
Restructuring charges | 446 |  |  | — |  | 2,035 |  |  | 8,559 |
Reserve release | — |  |  | (45 | ) | — |  |  | (45 | )
Cash paid | (638 | ) |  | — |  | (2,763 | ) |  | — |
Impact of foreign currency translation | 701 |  |  | (304 | ) | 1,073 |  |  | (41 | )
Ending balance | $ | 7,594 |  |  | $ | 8,473 |  | $ | 7,594 |  |  | $ | 8,473 |
The following table presents the Company’s 2016 Restructuring Initiative liability for the three and nine months ended September 30, 2016:
| Three Months Ended September 30, 2016 |  | Nine Months Ended September 30, 2016
Beginning balance | $ | 3,488 |  |  | $ | — |
Restructuring charges | — |  |  | 3,506 |
Cash paid | (4 | ) |  | (4 | )
Impact of foreign currency translation | 264 |  |  | 246 |
Ending balance | $ | 3,748 |  |  | $ | 3,748 |
The following table presents the Company’s Acquisition Integration Restructuring Initiative liability for the three and nine months ended September 30, 2016:
| Three Months Ended September 30, 2016 |  | Nine Months Ended September 30, 2016
Beginning balance | $ | — |  |  | $ | — |
Restructuring charges | 2,085 |  |  | 2,085 |
Cash paid | (421 | ) |  | (421 | )
Impact of foreign currency translation | — |  |  | — |
Ending balance | $ | 1,664 |  |  | $ | 1,664 |
The following table presents the Company's total restructuring liability for the three and nine months ended September 30, 2016 and 2015:
| Three Months Ended September 30, 2016 | Nine Months Ended September 30, 2016
| 2016 |  | 2015 | 2016 |  | 2015
Beginning balance | $ | 10,573 |  |  | $ | 8,822 |  | $ | 7,249 |  |  | $ | — |
Restructuring charges | 2,531 |  |  | — |  | 7,626 |  |  | 8,559 |
Reserve release | — |  |  | (45 | ) | — |  |  | (45 | )
Cash paid | (1,063 | ) |  | — |  | (3,188 | ) |  | — |
Impact of foreign currency translation | 965 |  |  | (304 | ) | 1,319 |  |  | (41 | )
Ending balance | $ | 13,006 |  |  | $ | 8,473 |  | $ | 13,006 |  |  | $ | 8,473 |

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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/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4) -URI http://asc.fasb.org/extlink&oid=27011515&loc=d3e140904-122747 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 5.P.3) -URI http://asc.fasb.org/extlink&oid=27011515&loc=d3e140864-122747 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 + Details
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