XML 31 R19.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Restructuring and Reorganization Charges | 12 Months Ended
--- | ---
Dec. 31, 2024
Restructuring and Related Activities [Abstract] |
Restructuring and Reorganization Charges | 8. Restructuring and Reorganization Charges Restructuring and reorganization charges are expenses that generally result from cost reduction initiatives and/or significant changes to our business, to include such things as involuntary employee terminations, changes in management structure or skillset, divestitures of businesses, facility consolidations and abandonments, modifications of leases, impairment of acquired intangible assets, and fundamental reorganizations impacting operational focus and direction. The following are the key restructuring and reorganizational activities we incurred over the last three years that have impacted our results from operations. During 2024 we implemented the following restructuring and reorganizational activities: • 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 $10.1 million. • We modified a real estate lease in India, resulting in an earlier termination date and the recognition of a $0.2 million gain. We also recorded $0.7 million of leasehold improvements and computer equipment impairments. During 2023 we implemented the following restructuring and reorganizational activities: • We decided to dissolve the Keydok business which we had acquired in 2021. As a result, we recorded net impairment charges of $1.2 million, to include the write-off of the acquired goodwill. We also subsequently terminated approximately 30 Mexico-based employees, which resulted in restructuring charges related to involuntary terminations of $1.6 million. • We reduced our workforce by approximately 110 employees, mainly in the U.S., as a result of organizational changes and efficiencies. As a result, we incurred restructuring charges related to involuntary terminations of $3.5 million. • We modified three of our real estate leases, at previously closed locations in India and the U.S., resulting in earlier termination dates and the recognition of a $4.3 million gain. We also recorded $0.5 million of operating lease right-of-use asset impairments. • We exited two reseller agreements that were acquired with the acquisition of Forte Payment Systems, Inc. in 2018. As a result, we incurred expenses of $9.9 million, of which $1.8 million was paid in 2023 and $5.6 million was paid in 2024, leaving $2.5 million accrued as of December 31, 2024. During 2022 we implemented the following restructuring and reorganizational activities: • In connection with our flexible work approach, we consolidated or closed office space at 13 of our leased real estate locations in Australia, India, Sweden, and the U.S., resulting in restructuring charges of $23.1 million related to the impairments of operating lease right-of-use assets, furniture and fixtures, and leasehold improvements, and $4.4 million of accelerated depreciation. • We dissolved the MobileCard business, which we had acquired a controlling interest of in July of 2021. 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 Mexico-based employees, which resulted in restructuring charges related to involuntary terminations of $0.6 million. • We reduced our workforce by approximately 100 employees, mainly in the U.S., 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 $7.1 million. The activities discussed above resulted in total restructuring and reorganizational charges for 2024, 2023, and 2022 of $13.3 million, $16.3 million, and $46.3 million, respectively, which have been reflected as a separate line item in our Income Statements. The activity in the business restructuring and reorganization reserves during 2024, 2023, and 2022 is as follows (in thousands):
|  | Termination Benefits |  |  | Other |  |  | Total |
January 1, 2022, balance |  | $ | 675 |  |  | $ | - |  |  | $ | 675 |
Charged to expense during period |  |  | 7,720 |  |  |  | 38,588 |  |  |  | 46,308 |
Cash payments |  |  | (7,665 | ) |  |  | (4,098 | ) |  |  | (11,763 | )
Adjustment for accelerated depreciation |  |  | - |  |  |  | (30,121 | ) |  |  | (30,121 | )
Adjustment for asset impairments |  |  | - |  |  |  | (4,369 | ) |  |  | (4,369 | )
Other |  |  | 1,761 |  |  |  | - |  |  |  | 1,761 |
December 31, 2022, balance |  |  | 2,491 |  |  |  | - |  |  |  | 2,491 |
Charged to expense during period |  |  | 5,128 |  |  |  | 11,208 |  |  |  | 16,336 |
Cash payments |  |  | (7,027 | ) |  |  | (5,386 | ) |  |  | (12,413 | )
Adjustment for accelerated depreciation |  |  | - |  |  |  | (396 | ) |  |  | (396 | )
Adjustment for asset impairments |  |  | - |  |  |  | (1,675 | ) |  |  | (1,675 | )
Adjustment for gain on lease modifications |  |  | - |  |  |  | 4,349 |  |  |  | 4,349 |
Other |  |  | 842 |  |  |  | - |  |  |  | 842 |
December 31, 2023, balance |  |  | 1,434 |  |  |  | 8,100 |  |  |  | 9,534 |
Charged to expense during period |  |  | 10,065 |  |  |  | 3,258 |  |  |  | 13,323 |
Cash payments |  |  | (11,265 | ) |  |  | (7,855 | ) |  |  | (19,120 | )
Adjustment for accelerated depreciation |  |  | - |  |  |  | (440 | ) |  |  | (440 | )
Adjustment for asset impairments |  |  | - |  |  |  | (717 | ) |  |  | (717 | )
Adjustment for gain on lease modification |  |  | - |  |  |  | 174 |  |  |  | 174 |
Other |  |  | 968 |  |  |  | - |  |  |  | 968 |
December 31, 2024, balance |  | $ | 1,202 |  |  | $ | 2,520 |  |  | $ | 3,722 |
As of December 31, 2024, $2.5 million of the business restructuring and reorganization reserves were included in current liabilities.

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://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
Name: | us-gaap_RestructuringAndRelatedActivitiesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration