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RESTRUCTURING AND RELATED CHARGES | 12 Months Ended
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Dec. 31, 2024
Restructuring and Related Activities [Abstract] |
RESTRUCTURING AND RELATED CHARGES | RESTRUCTURING AND RELATED CHARGES The Company has implemented several restructuring plans in the past few years. The goal of these plans was to bring operational expenses to appropriate levels relative to the Company’s net revenue, while simultaneously implementing extensive company-wide expense control programs. The restructuring plans have primarily been comprised of severance payments and termination benefits related to headcount reductions. During the first quarter of 2024, management initiated restructuring plans to further improve the Video business efficiencies in order to drive long-term growth and profitability. The planned activities were substantially completed in 2024. Total restructuring cost associated with these restructuring activities was $16.0 million and recorded to the restructuring expense line item within our Consolidated Statements of Operations. The following table summarizes the activities related to the Company’s restructuring plans accrual, reported as components of “Other current liabilities” and “Other non-current liabilities” on the Consolidated Balance Sheets:
(in thousands) | Severance and Benefits
Balance at December 31, 2023 | $ | 313 |
Charges for current period | 16,433 |
Cash payments | (10,128) |
Other adjustments (1) | 1,062 |
Balance at December 31, 2024 | $ | 7,680 |
Included in other current liabilities | $ | 4,414 |
Included in other non-current liabilities | 3,266 |
Balance at December 31, 2024 | $ | 7,680 |
(1) Other adjustments include $1.6 million transfer from pension liabilities and $(0.5) million foreign exchange impact. For the year ended December 31, 2024, $0.5 million and $16.0 million of restructuring and related charges are included in “Cost of revenue” and “Operating expenses - Restructuring and related charges”, respectively, in the Consolidated Statements of Operations.

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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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