XML 27 R16.htm IDEA: XBRL DOCUMENT
v3.24.3

RESTRUCTURING AND ASSET IMPAIRMENT CHARGES | 9 Months Ended
--- | ---
Sep. 30, 2024
Restructuring and Related Activities [Abstract] |
RESTRUCTURING AND ASSET IMPAIRMENT CHARGES | RESTRUCTURING AND ASSET IMPAIRMENT CHARGES 2023 Restructuring Plan In the fourth quarter of 2023, the Company implemented a restructuring plan (the “2023 Restructuring Plan”) designed to increase operational efficiencies and execution, reduce operating costs, and better align the Company’s workforce and cost structure with current market conditions, and the Company’s business needs, strategic priorities and ongoing commitment to profitable growth. The Company plans to complete its restructuring activities under the 2023 Restructuring Plan in the fourth quarter of 2024. The following table presents the details of the Company’s restructuring and asset impairment charges and accrued balances under the 2023 Restructuring Plan for the three and nine months ended September 30, 2024 and 2023:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | 2024 |  | 2023 |  | 2024 |  | 2023
|  | (In thousands)
Employee Severance and Benefits |  | $ | 105 |  |  | $ | — |  |  | $ | 1,214 |  |  | $ | 870 |
Contract Termination Charges |  | (8) |  |  | — |  |  | 1,576 |  |  | — |
Asset Impairment |  | 580 |  |  | — |  |  | 965 |  |  | — |
Total restructuring charges |  | $ | 677 |  |  | $ | — |  |  | $ | 3,755 |  |  | $ | 870 |
The following table provides information regarding changes in the Company’s accrued restructuring balances for the periods indicated:
| Employee Severance and Benefits |  | Contract Termination Charges |  | Asset Impairment |  | Total
| (In thousands)
Balance as of December 31, 2023 | $ | 1,304 |  |  | $ | 1,800 |  |  | $ | — |  |  | $ | 3,104 |
Charges | 1,214 |  |  | 1,576 |  |  | 965 |  |  | 3,755 |
Cash payments | (1,715) |  |  | (2,073) |  |  | — |  |  | (3,788) |
Non-cash settlement and other | (276) |  |  | (1,200) |  |  | (965) |  |  | (2,441) |
Balance as of September 30, 2024 | $ | 527 |  |  | $ | 103 |  |  | $ | — |  |  | $ | 630 |

X
- References No definition available. + Details
Name: | us-gaap_RestructuringAndRelatedActivitiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4.e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479823/420-10-S99-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/420/tableOfContent Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 + Details
Name: | us-gaap_RestructuringAndRelatedActivitiesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration