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RESTRUCTURING AND FACILITIES CONSOLIDATION INITIATIVES | 3 Months Ended
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Mar. 31, 2023
Restructuring and Related Activities [Abstract] |
RESTRUCTURING AND FACILITIES CONSOLIDATION INITIATIVES | RESTRUCTURING AND FACILITIES CONSOLIDATION INITIATIVES The Company recorded restructuring and related expense aggregating $6.9 million and $4.8 million in the three months ended March 31, 2023 and 2022, respectively. Restructuring and related expense includes restructuring expense (primarily severance and related costs), estimated future variable lease costs for vacated properties with no intent or ability of sublease, and accelerated rent amortization expense. For restructuring events that involve lease assets and liabilities, the Company applies lease reassessment and modification guidance and evaluates the right-of-use assets for potential impairment. If the Company plans to exit all or distinct portions of a facility and does not have the ability or intent to sublease, the Company will accelerate the amortization of each of those lease components through the vacate date. The accelerated amortization is recorded as a component of Restructuring and related expense in the Company's condensed consolidated statements of operations. Related variable lease expenses will continue to be expensed as incurred through the vacate date, at which time the Company will reassess the liability balance to ensure it appropriately reflects the remaining liability associated with the premises and record a liability for the estimated future variable lease costs. Accelerated amortization of lease assets is recognized from the date that the Company commences the plan to fully or partially vacate a facility, for which there is no intent or ability to enter into a sublease, through the final vacate date. Accelerated amortization of lease assets that are included as a component of restructuring and related expense are excluded from the restructuring accrual activity tables below, as the liability for lease payments for these facilities is included as a component of current and noncurrent Operating lease liabilities in the Company's condensed consolidated balance sheets at March 31, 2023 and December 31, 2022 (see Note 16). The Company may incur additional future expense if it is unable to sublease other locations included in the Company's facilities consolidation initiatives. Restructuring and related expense for the three months ended March 31, 2023 and 2022 was comprised of the following (in thousands):
| Three months ended |  |
| March 31, 2023 |  | March 31, 2022 |  |  |  |
Severance and related costs | $ | 5,708 |  |  | $ | 4,122 |  |  |  |  |
Variable and other facilities-related costs | 1,006 |  |  | $ | 692 |  |  |  |  |
Accelerated amortization of lease assets due to cease-use | 223 |  |  | $ | — |  |  |  |  |
| $ | 6,937 |  |  | $ | 4,814 |  |  |  |  |
2023 Restructuring Plan On February 22, 2023, the Company's Board of Directors approved a strategic restructuring program (the "2023 Restructuring Plan") to streamline the Company's operations in order to support the Company's investment in critical growth areas. The 2023 Restructuring Plan is expected to include, among other things, charges related to a consolidation of facilities and a workforce reduction. Any potential positions eliminated in countries outside the United States are subject to local law and consultation requirements. The Company recorded restructuring and related expense of $5.7 million in the three months ended March 31, 2023 in connection with the 2023 Restructuring Plan entirely for severance related costs. A summary of the 2023 Restructuring Plan accrual activity for the three months ended March 31, 2023 is as follows (in thousands):
| Balance at January 1, 2023 |  | Initiatives charged to expense |  |  |  | Cash payments |  | Net transfer to operating lease accounts |  | Balance at March 31, 2023
Severance | $ | — |  |  | $ | 5,708 |  |  |  |  | $ | (2,540) |  |  | $ | — |  |  | $ | 3,168 |
2022 Restructuring Plan On February 14, 2022, the Company's Board of Directors approved a strategic restructuring program (the "2022 Restructuring Plan") to streamline the Company's operations in order to support the Company's investment in critical growth areas. The 2022 Restructuring Plan includes, among other things, charges related to a consolidation of facilities and a workforce reduction. Any positions eliminated in countries outside the United States are subject to local law and consultation requirements. The Company recorded restructuring and related expense of $1.2 million and $4.2 million in the three months ended March 31, 2023 and 2022, respectively, in connection with the 2022 Restructuring Plan. The amount for the three months ended March 31, 2023 was comprised of $1.0 million for variable and other facilities-related costs, and $0.2 million for accelerated amortization of lease assets no longer being used with no ability or intent to sublease. The amount for the three months ended March 31, 2022 was for severance and related costs for approximately 50 employees. A summary of the 2022 Restructuring Plan accrual activity for the three months ended March 31, 2023 is as follows (in thousands):
| Balance at January 1, 2023 |  | Initiatives charged to expense |  |  |  |  |  | Cash payments |  | Net transfer to operating lease accounts |  | Balance at March 31, 2023
Severance | $ | 1,164 |  |  | $ | — |  |  |  |  |  |  | $ | (353) |  |  | $ | — |  |  | $ | 811 |
Variable and other facilities-related costs | 890 |  |  | 1,006 |  |  |  |  |  |  | (1,114) |  |  | — |  |  | 782 |
Facilities - Accel Amort | — |  |  | 223 |  |  |  |  |  |  | — |  |  | (223) |  |  | — |
| $ | 2,054 |  |  | $ | 1,229 |  |  |  |  |  |  | $ | (1,467) |  |  | $ | (223) |  |  | $ | 1,593 |
Balance Sheet Classification The current portions of accrued restructuring were $4.1 million and $1.3 million at March 31, 2023 and December 31, 2022, respectively, and are included as components of Accrued expenses in the consolidated balance sheets. The long-term portions of accrued restructuring are included as components of Other long-term liabilities in the consolidated balance sheets. The long-term portions of accrued restructuring were $1.9 million and $2.0 million at March 31, 2023 and December 31, 2022, respectively.

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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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