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Restructuring Activities and COVID-19 Update | 3 Months Ended
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Mar. 31, 2021
Restructuring and Related Activities [Abstract] |
Restructuring Activities and COVID-19 Update |
12. | Restructuring Activities and COVID-19 Update
Beginning in March 2020, the onset of the COVID-19 pandemic resulted in a negative impact on the Company’s business in the second quarter of 2020 due to shelter-in-place and stay-at-home restrictions (in certain of the Company’s markets) which prohibited or reduced in-person residential real estate showings and the related impact on customer demand and housing inventory, as well as deteriorating economic conditions, such as increased unemployment rates. In light of the uncertain and rapidly evolving situation relating to COVID-19, the Company took a range of measures to address the uncertainties related to the COVID-19 pandemic including, but not limited to, reducing the size of its workforce, terminating certain lease obligations and reducing certain discretionary expenses during the first quarter of 2020. As a result of these cost-saving measures, the Company reduced its workforce by approximately 15%. As of March 31, 2021, the impacts of the pandemic have not significantly impacted the carrying amount of the Company’s assets and liabilities. Although the demand in the Company’s services had recovered in the second half of 2020, the duration of the pandemic, the resulting stay-at-home orders, and any impacts on consumer behavior are unknown, and the amount of that demand which will persist after the reversal of the stay-at-home orders is unknown. Additionally, the pandemic’s impacts on the overall economy and credit markets could significantly impact the Company’s estimates of fair value, which could affect the carrying amount of certain assets and liabilities. The expenses resulting from these cost-saving measures were included in the consolidated statement of operations for the three months ended March 31, 2020, as follows (in millions):
|  | Three Months Ended March 31, 2020 |
|  | Severance |  |  | Lease Termination |  |  | Total |
Sales and marketing |  | $ | 1.5 |  |  | $ | 1.2 |  |  | $ | 2.7 |
Operations and support |  |  | 2.8 |  |  |  | — |  |  |  | 2.8 |
Research and development |  |  | 0.7 |  |  |  | — |  |  |  | 0.7 |
General and administrative |  |  | 0.4 |  |  |  | — |  |  |  | 0.4 |
Total |  | $ | 5.4 |  |  | $ | 1.2 |  |  | $ | 6.6 |
The Company did not recognize any restructuring expenses during the three-months ended March 31, 2021. As of March 31, 2021 and December 31, 2020, the Company did not have any material remaining liabilities related to restructuring costs.

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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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