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Restructuring Charges | 6 Months Ended
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Jun. 30, 2024
Restructuring and Related Activities [Abstract] |
Restructuring Charges | Restructuring Charges 2024 Plan As part of our ongoing initiatives to accelerate value creation, at the end of the second quarter of 2024, we approved a worldwide cost reduction initiative (the "2024 Plan") to realize cost reductions and improve efficiencies. During the second quarter, we eliminated 367 positions and incurred pre-tax charges of $26 million and in July 2024, we eliminated an additional 184 positions and will record pre-tax charges of $8 million in connection with the 2024 Plan. We anticipate incurring additional charges in future periods related to further workforce reductions contemplated by the 2024 Plan. We expect to complete these actions by the end of the first half of 2025. 2023 Plan We completed the remaining actions under the 2023 Plan in the second quarter. During the second quarter, we eliminated 34 positions and incurred pre-tax charges of $6 million. Under this plan, we eliminated 1,049 positions and cumulative charges were $69 million. Activity in our restructuring reserves was as follows:
| 2024 Plan |  | 2023 Plan |  | Total
Balance at January 1, 2024 | $ | — |  |  | $ | 26,128 |  |  | $ | 26,128 |
Amounts charged to expense | 25,537 |  |  | 10,621 |  |  | 36,158 |
Cash payments | — |  |  | (26,697) |  |  | (26,697) |
Noncash activity | — |  |  | (875) |  |  | (875) |
Balance at June 30, 2024 | $ | 25,537 |  |  | $ | 9,177 |  |  | $ | 34,714 |
| 2023 Plan |  | Prior Plan |  | Total
Balance at January 1, 2023 | $ | — |  |  | $ | 7,647 |  |  | $ | 7,647 |
Amounts charged to expense | 22,443 |  |  | 3,599 |  |  | 26,042 |
Cash payments | (1,637) |  |  | (11,246) |  |  | (12,883) |
Noncash activity | (1,478) |  |  | — |  |  | (1,478) |
Balance at June 30, 2023 | $ | 19,328 |  |  | $ | — |  |  | $ | 19,328 |
Components of restructuring expense were as follows:
| Three Months Ended June 30, 2024 |  | Three Months Ended June 30, 2023
| 2024 Plan |  | 2023 Plan |  | Total |  | 2023 Plan |  | Prior Plan |  | Total
Severance | $ | 25,537 |  |  | $ | 6,020 |  |  | $ | 31,557 |  |  | $ | 20,965 |  |  | $ | — |  |  | $ | 20,965 |
Facilities and other | — |  |  | 286 |  |  | 286 |  |  | 1,478 |  |  | — |  |  | 1,478 |
Total | $ | 25,537 |  |  | $ | 6,306 |  |  | $ | 31,843 |  |  | $ | 22,443 |  |  | $ | — |  |  | $ | 22,443 |
| Six Months Ended June 30, 2024 |  | Six Months Ended June 30, 2023
| 2024 Plan |  | 2023 Plan |  | Total |  | 2023 Plan |  | Prior Plan |  | Total
Severance | $ | 25,537 |  |  | $ | 9,398 |  |  | $ | 34,935 |  |  | $ | 20,965 |  |  | $ | 3,057 |  |  | $ | 24,022 |
Facilities and other | — |  |  | 1,223 |  |  | 1,223 |  |  | 1,478 |  |  | 542 |  |  | 2,020 |
Total | $ | 25,537 |  |  | $ | 10,621 |  |  | $ | 36,158 |  |  | $ | 22,443 |  |  | $ | 3,599 |  |  | $ | 26,042 |

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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://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
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