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Restructuring Activities | 9 Months Ended
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Sep. 30, 2018
Restructuring and Related Activities [Abstract] |
Restructuring Activities |
15. | Restructuring Activities
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 review of operations identified certain initiatives to further streamline the business, improve the Company’s efficiency and 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 third 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 respective programs. The Company has determined the amount of expenses related to these initiatives is probable and reasonably estimable. As such, the Company has recorded the impact on the unaudited condensed consolidated statements of income and in accrued expenses and current liabilities on the unaudited condensed consolidated balance sheets. Restructuring charges incurred to date under these initiatives were $24.7 million as of September 30, 2018. The majority of the balances under these initiatives are expected to be paid through 2018. Based on current plans, which are subject to change, the amount of additional restructuring costs that the Company expects to incur under these initiatives is immaterial. The following tables present the Company’s restructuring activities by initiative:
2015 Restructuring Initiative | Three Months Ended September 30, |  | Nine Months Ended September 30,
(In thousands) | 2018 |  | 2017 |  | 2018 |  | 2017
Balance, beginning of period | $ | 1,143 |  |  | $ | 3,008 |  |  | $ | 2,680 |  |  | $ | 5,231 |
Restructuring (reversals) charges | (30 | ) |  | 431 |  |  | (77 | ) |  | 1,964 |
Cash paid | (313 | ) |  | (656 | ) |  | (1,804 | ) |  | (3,492 | )
Liability transfer to 2016 Restructuring Initiative | — |  |  | — |  |  | — |  |  | (1,158 | )
Foreign currency translation | (4 | ) |  | (22 | ) |  | (3 | ) |  | 216 |
Balance, end of period | $ | 796 |  |  | $ | 2,761 |  |  | $ | 796 |  |  | $ | 2,761 |
2016 Restructuring Initiative | Three Months Ended September 30, |  | Nine Months Ended September 30,
(In thousands) | 2018 |  | 2017 |  | 2018 |  | 2017
Balance, beginning of period | $ | 410 |  |  | $ | 4,342 |  |  | $ | 738 |  |  | $ | 3,662 |
Restructuring charges | 28 |  |  | 88 |  |  | 58 |  |  | (226 | )
Cash paid | (199 | ) |  | (1,778 | ) |  | (555 | ) |  | (2,265 | )
Liability transfer from 2015 Restructuring Initiative | — |  |  | — |  |  | — |  |  | 1,158 |
Foreign currency translation | (2 | ) |  | 35 |  |  | (4 | ) |  | 358 |
Balance, end of period | $ | 237 |  |  | $ | 2,687 |  |  | $ | 237 |  |  | $ | 2,687 |
Acquisition Integration Restructuring Initiative | Three Months Ended September 30, |  | Nine Months Ended September 30,
(In thousands) | 2018 |  | 2017 |  | 2018 |  | 2017
Balance, beginning of period | $ | 32 |  |  | $ | 1,333 |  |  | $ | 5,093 |  |  | $ | 1,764 |
Restructuring charges | — |  |  | 4,120 |  |  | 240 |  |  | 5,061 |
Cash paid | (32 | ) |  | (937 | ) |  | (5,355 | ) |  | (2,416 | )
Other | — |  |  | — |  |  | 22 |  |  | 107 |
Balance, end of period | $ | — |  |  | $ | 4,516 |  |  | $ | — |  |  | $ | 4,516 |
Total Restructuring Initiatives | Three Months Ended September 30, |  | Nine Months Ended September 30,
(In thousands) | 2018 |  | 2017 |  | 2018 |  | 2017
Balance, beginning of period | $ | 1,585 |  |  | $ | 8,683 |  |  | $ | 8,511 |  |  | $ | 10,657 |
Restructuring charges | (2 | ) |  | 4,639 |  |  | 221 |  |  | 6,799 |
Cash paid | (544 | ) |  | (3,371 | ) |  | (7,714 | ) |  | (8,173 | )
Other | — |  |  | — |  |  | 22 |  |  | 107 |
Foreign currency translation | (6 | ) |  | 13 |  |  | (7 | ) |  | 574 |
Balance, end of period | $ | 1,033 |  |  | $ | 9,964 |  |  | $ | 1,033 |  |  | $ | 9,964 |

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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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