XML 29 R17.htm IDEA: XBRL DOCUMENT v3.19.1

Organizational Restructuring

3 Months Ended

Mar. 31, 2019

Restructuring and Related Activities [Abstract]

Organizational Restructuring

Organizational Restructuring

In 2017, the Company implemented a reduction in force plan that resulted in the termination of approximately 10% of its workforce. That plan was complete as of December 31, 2018.

In June and December 2018, the Company's Board of Directors authorized management to implement additional reductions in its workforce (less than 10%) and rationalize its portfolio of leased properties due to the reductions in headcount ("2018 Restructuring Plans"). In connection with the 2018 Restructuring Plans, the Company expects to incur total exit-related costs of up to $13.0 million, including $10.3 million that was recorded in 2018. The remaining expense is expected to be recognized through the second quarter of 2019 primarily as stock-based compensation.

During the three months ended March 31, 2019 and 2018, the Company recognized $0.1 million in restructuring income and $1.3 million in restructuring expense, respectively.

The table below summarizes the balance of accrued restructuring expenses as of March 31, 2019, which is recorded in accrued expenses in the Condensed Consolidated Balance Sheets, and the changes in the accrued amounts for the three months ended March 31, 2019 for the 2018 Restructuring Plans:

2018 Restructuring Plans

(In thousands)		Severance pay and benefits				Short-term lease exit and other direct costs				Long-term lease exit and other direct costs				Total
Accrued Balance as of December 31, 2018		$	4,493			$	708			$	1,810			$	7,011
Adoption of ASC 842 (1)		—				(708		)		(1,810		)		(2,518		)
Restructuring income (2)		(70		)		—				—				(70		)
Payments		(1,852		)		—				—				(1,852		)
Accrued Balance as of March 31, 2019		$	2,571			$	—			$	—			$	2,571

⁽¹⁾ The Company adopted ASC 842, Leases, as of January 1, 2019. For additional details regarding the adoption, please refer to Footnote 2, Summary of Significant Accounting Policies.

⁽²⁾ The Company recognized restructuring income due to adjustments to the year-end restructuring accrual.

X

- References

No definition available.

+ Details

Name:	us-gaap_RestructuringAndRelatedActivitiesAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-URI http://asc.fasb.org/topic&trid=2175745

+ Details

Name:	us-gaap_RestructuringAndRelatedActivitiesDisclosureTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration