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Restructuring and Transformation Activities | 6 Months Ended
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Jun. 30, 2024
Restructuring and Related Activities [Abstract] |
Restructuring and Transformation Activities | Restructuring and Transformation Activities 2024 Actions The Company incurred restructuring charges and transformation fees of $4.3 million in the second quarter of 2024 and $6.6 million in June year-to-date 2024 as a continuation of the actions that were announced in the second quarter of 2023 as part of the comprehensive transformation initiative. The transformation activities include severance charges of $2.4 million and $3.5 million for the second quarter and June year-to-date 2024, respectively, and costs to execute the transformation including the use of an external consultant of $1.9 million and $3.1 million for the second quarter and June year-to-date 2024, respectively. The severance and transformation costs are recorded in selling, general and administrative ("SG&A") expenses in the consolidated statements of earnings. Additionally, in the second quarter of 2024, the Company recognized an impairment charge of $5.5 million for certain right-of-use assets related to our leased headquarters facility reflecting adjustments as to how we are utilizing the building as a part of our ongoing transformation efforts. The impairment charge related to the right-of-use assets is recorded in the asset impairment charge in the consolidated statements of earnings. The restructuring and transformation costs included in SG&A are detailed below for the second quarter and June year-to-date 2024 (in millions of dollars):
| Second Quarter 2024 |  | June Year to Date 2024
| Severance Costs |  | Transformation Costs |  | Total |  | Severance Costs |  | Transformation Costs |  | Total
Professional & Industrial | $ | 0.3 |  |  | $ | — |  |  | $ | 0.3 |  |  | $ | 0.4 |  |  | $ | — |  |  | $ | 0.4 |
Science, Engineering & Technology | 0.3 |  |  | — |  |  | 0.3 |  |  | 0.3 |  |  | — |  |  | 0.3 |
Outsourcing & Consulting | — |  |  | — |  |  | — |  |  | 0.6 |  |  | — |  |  | 0.6 |
Corporate | 1.8 |  |  | 1.9 |  |  | 3.7 |  |  | 2.2 |  |  | 3.1 |  |  | 5.3 |
Total | $ | 2.4 |  |  | $ | 1.9 |  |  | $ | 4.3 |  |  | $ | 3.5 |  |  | $ | 3.1 |  |  | $ | 6.6 |
2023 Actions In the second quarter of 2023, the Company announced a comprehensive transformation initiative that includes actions that will further streamline the Company's operating model to enhance organizational efficiency and effectiveness. The total costs incurred related to these transformation activities in the second quarter of 2023 totaled $8.0 million. The transformation activities included $4.5 million of costs to execute the transformation initiatives through the use of an external consultant, a $2.4 million impairment charge for right-of-use assets related to an unoccupied office space lease and additional severance of $1.1 million, net of adjustments. The impairment charge related to the right-of-use assets is recorded in the asset impairment charge in the consolidated statements of earnings. The costs to execute and severance are included in the $5.6 million of restructuring costs incurred in the second quarter of 2023, net of prior period adjustments, and are recorded in SG&A expenses in the consolidated statements of earnings, as detailed further below. In the first quarter of 2023, the Company undertook restructuring actions to further our cost management efforts in response to the current demand levels and reflect a repositioning of our P&I staffing business to better capitalize on opportunities in local markets. Restructuring costs incurred in the first quarter of 2023 totaled $6.6 million and were recorded entirely in SG&A expenses in the consolidated statements of earnings. The restructuring and transformation costs included in SG&A are detailed below for the second quarter and June year-to-date 2023 (in millions of dollars):
| Second Quarter 2023 |  | June Year to Date 2023
| Severance Costs |  | Lease Termination Costs, Transformation and Other |  | Total |  | Severance Costs |  | Lease Termination Costs, Transformation and Other |  | Total
Professional & Industrial | $ | 0.3 |  |  | $ | — |  |  | $ | 0.3 |  |  | $ | 3.0 |  |  | $ | 0.3 |  |  | $ | 3.3 |
Science, Engineering & Technology | — |  |  | — |  |  | — |  |  | 0.4 |  |  | 0.1 |  |  | 0.5 |
Education | 0.3 |  |  | — |  |  | 0.3 |  |  | 0.4 |  |  | — |  |  | 0.4 |
Outsourcing & Consulting | (0.1) |  |  | — |  |  | (0.1) |  |  | 0.5 |  |  | — |  |  | 0.5 |
International | — |  |  | — |  |  | — |  |  | 0.6 |  |  | — |  |  | 0.6 |
Corporate | 0.6 |  |  | 4.5 |  |  | 5.1 |  |  | 0.8 |  |  | 6.1 |  |  | 6.9 |
Total | $ | 1.1 |  |  | $ | 4.5 |  |  | $ | 5.6 |  |  | $ | 5.7 |  |  | $ | 6.5 |  |  | $ | 12.2 |
Accrual Summary A summary of the global restructuring balance sheet accrual, included in accrued payroll and related taxes and accounts payable and accrued liabilities in the consolidated balance sheet, is detailed below (in millions of dollars):
Balance as of year-end 2023 | $ | 15.1 |
Accruals | 2.3 |
Reductions for cash payments | (11.0) |
Disposition of EMEA staffing operations | (1.5) |
Accrual adjustments | (0.2) |
Balance as of first quarter-end 2024 | 4.7 |
Accruals | 4.3 |
Reductions for cash payments | (4.4) |
Balance as of second quarter-end 2024 | $ | 4.6 |
The remaining balance of $4.6 million as of second quarter-end 2024 primarily represents the costs to execute the transformation initiatives and severance costs, and the majority is expected to be paid by the end of 2024. No material adjustments are expected to be recorded.

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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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