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Restructuring and Reorganization Charges | 9 Months Ended
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Sep. 30, 2022
Restructuring and Related Activities [Abstract] |
Restructuring and Reorganization Charges | 6. RESTRUCTURING AND REORGANIZATION CHARGES During the third quarters of 2022 and 2021, we recorded restructuring and reorganization charges of $14.2 million and $0.2 million, respectively, and for the nine months ended September 30, 2022 and 2021, we recorded restructuring and reorganization charges of $46.3 million and $3.0 million, respectively. During the nine months ended September 30, 2022 we implemented the following restructuring and reorganizational activities: • In connection with our workplace of the future philosophy, we consolidated space at thirteen of our leased real estate locations in Australia, India, Sweden, and the U.S., resulting in restructuring charges of $23.0 million related to the impairments of operating lease right-of-use assets, furniture and fixtures, and leasehold improvements, and $4.1 million of accelerated depreciation. • In June 2022, our management team, with the support of our Board, decided to dissolve the MobileCard business, in which we had acquired a controlling interest in July of 2021 (see Note 5). MobileCard was not meeting its projected targets. As a result, we recorded net impairment charges of $7.0 million, to include the write-offs of the remaining acquired intangible assets, goodwill, and the noncontrolling interest. We also terminated approximately 40 employees, which resulted in restructuring charges related to involuntary terminations of $0.6 million. • We reduced our workforce by approximately 80 employees, mainly in North America, as a result of organizational changes and efficiencies, to include a margin improvement initiative that began in the second quarter of 2022. As a result, we incurred restructuring charges related to involuntary terminations of $7.0 million. The activity in the restructuring and reorganization reserves during the nine months ended September 30, 2022 was as follows (in thousands):
|  | Termination |  |  |  |  |  |  |
|  | Benefits |  |  | Other |  |  | Total |
January 1, 2022, balance |  | $ | 675 |  |  | $ | - |  |  | $ | 675 |
Charged to expense during period |  |  | 7,604 |  |  |  | 38,700 |  |  |  | 46,304 |
Cash payments |  |  | (5,024 | ) |  |  | (4,578 | ) |  |  | (9,602 | )
Adjustment for asset impairment |  |  | - |  |  |  | (29,986 | ) |  |  | (29,986 | )
Adjustment for accelerated depreciation |  |  | - |  |  |  | (4,136 | ) |  |  | (4,136 | )
Other |  |  | 788 |  |  |  | - |  |  |  | 788 |
September 30, 2022, balance |  | $ | 4,043 |  |  | $ | - |  |  | $ | 4,043 |
As of September 30, 2022, $3.9 million of the restructuring and reorganization reserves were included in current liabilities.

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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 -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4(e)) -URI https://asc.fasb.org/extlink&oid=115931487&loc=d3e140904-122747 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -URI https://asc.fasb.org/topic&trid=2175745 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b)(2) -URI https://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 + Details
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