XML 39 R31.htm IDEA: XBRL DOCUMENT
v3.22.0.1

Restructuring | 3 Months Ended
--- | ---
Mar. 31, 2021
Restructuring and Related Activities [Abstract] |
Restructuring | Restructuring and Impairment During both 2020 and 2019, we engaged a strategic consulting firm to assist us in optimizing our structure and cost base. As a result, we have implemented several cost-saving and margin improvement programs designed to generate substantial incremental cash flow including the Operation, Simplification and Optimization Program, the DRG Acquisition Integration Program and the CPA Global Acquisition, Integration and Optimization Program. Operation Simplification and Optimization Program During the fourth quarter of 2019, the Company approved restructuring actions designed to streamline our operations by simplifying our organization and focusing on two segments in planned phases. The following table summarizes the activity related to the restructuring reserves for the Operation, Simplification and Optimization Program:
Operation Simplification and Optimization Program |  | Severance and Related Benefit Costs |  | Costs Associated with Exit and Disposal Costs (1) |  | Total
Reserve Balance as of December 31, 2019 |  | $ | 9,506 |  |  | $ | — |  |  | $ | 9,506 |
Expenses recorded |  | 6,574 |  |  | 1,180 |  |  | 7,754 |
Payments made |  | (6,647) |  |  | — |  |  | (6,647) |
Reserve Balance as of March 31, 2020 |  | $ | 9,433 |  |  | $ | 1,180 |  |  | $ | 10,613 |
Reserve Balance as of December 31, 2020 |  | $ | 5,368 |  |  | $ | 593 |  |  | $ | 5,961 |
Expenses recorded |  | 252 |  |  | 177 |  |  | 429 |
Payments made |  | (4,716) |  |  | (751) |  |  | (5,467) |
Reserve Balance as of March 31, 2021 |  | $ | 904 |  |  | $ | 19 |  |  | $ | 923 |
(1) Relates primary to lease exit costs and legal and advisory fees.
Restructuring charges included actions to reduce operational costs. Components of the pre-tax charges include $252 and $6,574 in severance costs and $177 and $1,180 in other costs incurred during the three months ended March 31, 2021 and 2020, respectively. The Science and IP segments incurred $3,908 and $3,847 of the expense, respectively, during the three months ended March 31, 2020. The following table is a summary of charges incurred related to the Operation, Simplification and Optimization Program for the three months ended March 31, 2021 and 2020.
| Three Months Ended March 31, |  |
| 2021 |  | 2020 |  |
Severance and related benefit costs | $ | 252 |  |  | $ | 6,574 |  |  |
Costs associated with exit and disposal activities (1) | 49 |  |  | 1,180 |  |  |
Costs associated with lease exit costs including impairment (2) | 128 |  |  | — |  |  |
Total | $ | 429 |  |  | $ | 7,754 |  |  |
(1) Relates primarily to contract exit costs, legal and advisory fees. |  |
(2) Relates primary to lease exit costs. |  |
The Science and IP segments incurred $157 and $272 of the expense, respectively, during the three months ended March 31, 2021. The Company does not expect to incur any material expenses after March 31, 2021 with these restructuring efforts. DRG Acquisition Integration Program During the second quarter of 2020, the Company approved restructuring actions designed to eliminate duplicative costs following the acquisition of DRG in planned phases. The following table summarizes the activity related to the restructuring reserves for the DRG Acquisition Integration during the three months ended March 31, 2021:
DRG Acquisition Integration |  | Severance and Related Benefit Costs |  | Costs Associated with Exit and Disposal Costs (1) |  | Total
Reserve Balance as of December 31, 2020 |  | $ | 741 |  |  | $ | 240 |  |  | $ | 981 |
Expenses recorded |  | 192 |  |  | 75 |  |  | 267 |
Payments made |  | (439) |  |  | (99) |  |  | (538) |
Noncash items and other adjustments |  | — |  |  | — |  |  | — |
Reserve Balance as of March 31, 2021 |  | $ | 494 |  |  | $ | 216 |  |  | $ | 710 |
(1) Relates primary to lease exit costs.
The following table is a summary of charges incurred related to the DRG Acquisition Integration in the three months ended March 31, 2021:
| Three months ended March 31, 2021 |
Severance and related benefit costs | $ | 192 |  |  |  |
Costs associated with exit and disposal activities | — |  |  |  |
Costs associated with lease exit costs including impairment (1) | 75 |  |  |  |
Total | $ | 267 |  |  |  |
(1) Relates primarily to lease exit costs. |  |  |
The Science and IP segments incurr ed $95 and $172 of the expense, respectively, during the three months ended March 31, 2021. The Company does not expect to incur any material expenses after March 31, 2021 with these restructuring efforts. CPA Global Acquisition Integration and Optimization Program During the fourth quarter of 2020, the Company approved restructuring actions designed to eliminate duplicative costs following the acquisition of CPA Global and to streamline our operations simplifying our organization and reducing our leasing portfolio. The following table summarizes the activity related to the restructuring reserves for the CPA Global Acquisition, Integration and Optimization Program:
CPA Global Acquisition Integration and Optimization Program |  | Severance and Related Benefit Costs (As Restated) |  | Costs Associated with Exit and Disposal Costs (1) |  | Total (As Restated)
Reserve Balance as of December 31, 2020 |  | $ | 19,603 |  |  | $ | 3,642 |  |  | $ | 23,245 |
Expenses recorded(2) |  | 21,792 |  |  | 45,301 |  |  | 67,093 |
Payments made |  | (10,771) |  |  | (261) |  |  | (11,032) |
Noncash items and other adjustments(3) |  | (1,409) |  |  | (40,806) |  |  | (42,215) |
Reserve Balance as of March 31, 2021 |  | $ | 29,215 |  |  | $ | 7,876 |  |  | $ | 37,091 |
(1) Relates primary to lease exit costs and legal and advisory fees.
(2) Expenses include the acceleration of phantom equity awards under the CPA Global Equity Plan that were held by employees whose employment was involuntarily terminated. These expenses will be paid in cash and are accounted for as a liability award. See note 2 - Basis of Presentation for further details.
(3) Includes a $1,409 bonus accrual for severed employees and $40,806 of lease impairment charges.
The following table is a summary of charges incurred related to the CPA Global Acquisition Integration in the three months ended March 31, 2021.
| Three months ended March 31, 2021 (As Restated) |
Severance and related benefit costs(1) | $ | 21,792 |  |  |  |
Costs associated with exit and disposal activities(2) | 287 |  |  |  |
Costs associated with lease exit costs including impairment(3) | 45,014 |  |  |  |
Total | $ | 67,093 |  |  |  |
(1) Expenses include the acceleration of phantom equity awards under the CPA Global Equity Plan that were held by employees whose employment was involuntarily terminated. These expenses will be paid in cash and are accounted for as a liability award. See note 2 - Basis of Presentation for further details. |  |  |
(2) Relates primary to legal and advisory fees. |  |  |
(3) Includes $40,806 of charges related to impairment of leases, and $4,208 of costs incurred from exiting leases. |  |  |
The Science and IP segments incurred $22,388 and $40,435 of the expense, respectively, during the three months ended March 31, 2021. The Company expects to incur $42,765 of expense after March 31, 2021 with these restructuring efforts expected to conclude in 2022.

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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -URI http://asc.fasb.org/topic&trid=2175745 + Details
Name: | us-gaap_RestructuringAndRelatedActivitiesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration