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RESTRUCTURING AND RELATED CHARGES | 6 Months Ended
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Jun. 30, 2022
Restructuring and Related Activities [Abstract] |
RESTRUCTURING AND RELATED CHARGES | RESTRUCTURING AND RELATED CHARGESIn April 2020, the Board approved a multi-phase restructuring plan related to our previously announced strategic shift and as part of the cost cutting measures implemented in response to the impact of COVID-19 on our business. We have incurred total pretax charges of $110.0 million since the inception of the restructuring plan. Our actions under the plan were substantially completed by December 31, 2021, and our current and future charges or credits will be from changes in estimates. Our restructuring plan included workforce reductions of approximately 1,600 positions globally, the exit or discontinuation of the use of certain leases and other assets, impairments of our right-of-use and other long-lived assets, and the exit of our operations in New Zealand and Japan. In the first quarter 2021, we substantially liquidated our subsidiary in Japan and reclassified $32.3 million of cumulative foreign currency translation gains into earnings, which is presented in Other income (expense), net on the Condensed Consolidated Statements of Operations for the six months ended June 30, 2021. Costs incurred related to the restructuring plan are classified as Restructuring and related charges on the Condensed Consolidated Statements of Operations. The following tables summarize costs incurred by segment related to the restructuring plan for the three and six months ended June 30, 2022 and 2021 (in thousands):
|  | Three Months Ended June 30, 2022
|  | Employee Severance and Benefit Costs (Credits) |  | Legal and Advisory Costs |  | Right-of-Use Asset Impairments and Lease-related Charges (Credits) |  | Total Restructuring Charges (Credits)
North America |  | $ | — |  |  | $ | 86 |  |  | $ | 818 |  |  | $ | 904 |
International |  | 473 |  |  | 24 |  |  | 1,538 |  |  | 2,035 |
Consolidated |  | $ | 473 |  |  | $ | 110 |  |  | $ | 2,356 |  |  | $ | 2,939 |
|  | Three Months Ended June 30, 2021
|  | Employee Severance and Benefit Costs (Credits) |  | Legal and Advisory Costs |  | Lease-related Charges (Credits) |  | Total Restructuring Charges (Credits)
North America |  | $ | (10) |  |  | $ | 424 |  |  | $ | 623 |  |  | $ | 1,037 |
International |  | 12,605 |  |  | 50 |  |  | 553 |  |  | 13,208 |
Consolidated |  | $ | 12,595 |  |  | $ | 474 |  |  | $ | 1,176 |  |  | $ | 14,245 |
|  | Six Months Ended June 30, 2022
|  | Employee Severance and Benefit Costs (Credits) |  | Legal and Advisory Costs |  | Right-of-Use Asset Impairments and Lease-related Charges (Credits) |  | Total Restructuring Charges (Credits)
North America |  | $ | 1 |  |  | $ | 130 |  |  | $ | 1,174 |  |  | $ | 1,305 |
International |  | 184 |  |  | 61 |  |  | 1,701 |  |  | 1,946 |
Consolidated |  | $ | 185 |  |  | $ | 191 |  |  | $ | 2,875 |  |  | $ | 3,251 |
|  | Six Months Ended June 30, 2021
|  | Employee Severance and Benefit Costs (Credits) |  | Legal and Advisory Costs |  | Lease-related Charges (Credits) |  | Total Restructuring Charges (Credits)
North America |  | $ | 432 |  |  | $ | 1,231 |  |  | $ | 1,364 |  |  | $ | 3,027 |
International |  | 19,065 |  |  | 28 |  |  | (453) |  |  | 18,640 |
Consolidated |  | $ | 19,497 |  |  | $ | 1,259 |  |  | $ | 911 |  |  | $ | 21,667 |
As a part of our restructuring plan, we terminated or modified several of our leases. In other cases we vacated our leased facilities, and some of those facilities are being actively marketed for sublease or we are in negotiations with the landlord to potentially terminate or modify those leases. We recognized $1.2 million in impairment related to those leases during the three and six months ended June 30, 2022. See Note 2, Goodwill and Long-Lived Assets, for additional information. Rent expense, including amortization of the right-of-use asset and accretion of the operating lease liability, sublease income, termination and modification gains and losses, and other variable lease costs related to the leased facilities vacated as part of our restructuring plan are presented within Restructuring and related charges in the Condensed Consolidated Statements of Operations. The current and non-current liabilities associated with these leases continue to be presented within Other current liabilities and Operating lease obligations in the Condensed Consolidated Balance Sheets. The following table summarizes restructuring liability activity (in thousands):
| Employee Severance and Benefit Costs |  | Other Exit Costs |  | Total
Balance as of December 31, 2021 | 11,038 |  |  | 311 |  |  | 11,349 |
Charges payable in cash | 185 |  |  | 191 |  |  | 376 |
Cash payments | (4,534) |  |  | (145) |  |  | (4,679) |
Foreign currency translation | (591) |  |  | (59) |  |  | (650) |
Balance as of June 30, 2022 (1) | $ | 6,098 |  |  | $ | 298 |  |  | $ | 6,396 |
(1)Substantially all of the remaining cash payments for these costs are expected to be disbursed through 2022. In August 2022, we initiated a multi-phase cost savings plan designed to reduce our expense structure to align with our go-forward business and financial objectives (the “2022 Cost Savings Plan”). The 2022 Cost Savings Plan included a restructuring plan, approved by our Board on August 5, 2022 (the “2022 Restructuring Plan”). The first phase of the 2022 Restructuring Plan is expected to include an overall reduction of approximately 500 positions globally, with the majority of these reductions expected to occur by the end of 2022 and the remainder in early 2023. In connection with these actions, we expect to record total pre-tax charges of $10.0 million to $20.0 million. Substantially all of the pre-tax charges are expected to be paid in cash and will relate to employee severance and compensation benefits, with an immaterial amount of charges related to other exit costs. We expect to begin the next phase of our restructuring actions under this plan in 2023, and we anticipate these actions will include a focus on reducing our technology platform costs following the completion of our transition to the cloud.

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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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