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Restructuring Activity

6 Months Ended

Jun. 30, 2022

Restructuring and Related Activities [Abstract]

Restructuring Activity

Restructuring Activity

From time to time, the Company approves and implements restructuring plans as a result of internal resource alignment and cost saving measures. Such restructuring plans include terminating employees, vacating certain leased facilities, and cancellation of contracts.

The following table presents the activity related to the restructuring plans, which is included in restructuring charges in the consolidated statements of income:

			Three Months Ended June 30,												Six Months Ended June 30,
			2022						2021						2022						2021
			(in thousands)
Employee separation expenses			$	—					$	20					$	—					$	1,273
Lease related charges			462						—						462						608
Other			—						18						—						323
			$	462					$	38					$	462					$	2,204

Lease related charges for the six months ended June 30, 2022 included the impairment of leased right-of-use assets of approximately $0.5 million related to exiting a redundant facility.

Lease related charges for the six months ended June 30, 2021 included the impairment of leased right-of-use assets and leasehold improvements of approximately $0.4 million and $0.2 million, respectively, related to exiting a redundant facility.

The following table presents a roll-forward of the Company’s restructuring liability for the six months ended June 30, 2022. The restructuring liability is included in accrued expenses and other current liabilities and other long-term liabilities in the consolidated balance sheets.

			Employee Separation Expenses						Lease Related Charges						Other						Total
			(in thousands)
Liability as of December 31, 2021			$	—					$	444					$	—					$	444
Restructuring charges			—						462						—						462
Cash payments			—						(170)						—						(170)
Non-cash charges and adjustments			—						(462)						—						(462)
Liability as of June 30, 2022			—						274						—						274
Less: current portion as of June 30, 2022			—						(256)						—						(256)
Long-term portion as of June 30, 2022			$	—					$	18					$	—					$	18

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- References

No definition available.

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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

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