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Restructuring and Reorganization Charges | 9 Months Ended
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Sep. 30, 2024
Restructuring and Related Activities [Abstract] |
Restructuring and Reorganization Charges | 6. RESTRUCTURING AND REORGANIZATION CHARGES During the third quarters of 2024 and 2023, we recorded restructuring and reorganization charges of $2.9 million and $1.2 million, respectively, and for the nine months ended September 30, 2024 and 2023, we recorded restructuring and reorganization charges of $12.0 million and $8.4 million, respectively. During the nine months ended September 30, 2024, we reduced our global workforce by approximately 300 employees, as part of initiatives to better align and allocate resources to areas of the business where we have identified growth opportunities. As a result, we incurred restructuring charges related to involuntary terminations of $9.6 million. The activity in the restructuring and reorganization reserves during the nine months ended September 30, 2024 was as follows (in thousands):
|  | Termination Benefits |  |  | Other |  |  | Total |
January 1, 2024, balance |  | $ | 1,434 |  |  | $ | 8,100 |  |  | $ | 9,534 |
Charged to expense during period |  |  | 9,593 |  |  |  | 2,447 |  |  |  | 12,040 |
Cash payments |  |  | (10,311 | ) |  |  | (7,589 | ) |  |  | (17,900 | )
Adjustment for accelerated depreciation |  |  | - |  |  |  | (438 | ) |  |  | (438 | )
Other |  |  | 1,180 |  |  |  | - |  |  |  | 1,180 |
September 30, 2024, balance |  | $ | 1,896 |  |  | $ | 2,520 |  |  | $ | 4,416 |
During the nine months ended September 30, 2024, we paid $5.6 million related to the exit of two reseller agreements that were acquired with the acquisition of Forte Payment Systems, Inc. in 2018. As of September 30, 2024, $3.2 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 -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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