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Subsequent Events | 9 Months Ended
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Sep. 30, 2019
Subsequent Events [Abstract] |
Subsequent Events | Subsequent Events Departure of President and Chief Executive Officer; Election of Interim President and Chief Executive Officer On November 5, 2019 (the “Effective Date”), the Company announced that Oliver Ratzesberger is no longer serving as Teradata’s President and Chief Executive Officer and has resigned from the Board of Directors of the Company. The Company also announced that Victor L. Lund, had been elected as the Interim President and Chief Executive Officer of the Company on the Effective Date. The Board has initiated a search for the new President and CEO, and Mr. Lund has agreed to serve in this interim capacity until the completion of the search process. Mr. Lund will remain on the Board as its Executive Chairman. Workforce Reduction Plan On November 11, 2019, the Company approved a plan to reduce its workforce. This plan, which is incremental to Teradata’s comprehensive business transformation discussed in Note 15, is intended to reduce costs and increase efficiencies in certain of the Company’s operations. The Company expects that it will incur cost and cash expenditures in the range of $20 to $25 million related to the plan, consisting primarily of employee severance and other employee-related cash expenditures. Approximately half of these cash expenditures, which relate to cash payments for its international employees, will not have a material impact on the Condensed Consolidated Statements of Income (Loss) due to the Company accounting for its International postemployment benefits under Accounting Standards Codification 712, Compensation - Nonretirement Postemployment Benefits (“ASC 712”), which uses actuarial estimates and defers the immediate recognition of gains or losses. The Company expects these actions will be substantially completed by the first half of 2020.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 + Details
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