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Restructuring Activities

12 Months Ended

Dec. 31, 2023

Restructuring and Related Activities [Abstract]

Restructuring Activities

Restructuring Activities

For the year ended December 31, 2023, we recorded restructuring charges of $5.7 million. The 2023 restructuring charges included $4.6 million of consulting expenses, $0.8 million in lease impairment expense, $0.2 million of severance charges, and $0.1 million of facility related and other expenses.

The following table summarizes the restructuring charges which are recorded in “Restructuring Expense” in the Consolidated Statement of Comprehensive Income.

In thousands						Year Ended December 31, 2023
Consulting expense						$	4,579
Severance						169
Facility, asset impairment and other expense
Lease impairment and termination expense						798
Fixed Asset disposal and impairment charges						63
Facility and other expenses						78
Total facility, asset impairment and other expense						939
Total						$	5,687

The following table summarizes the changes in liabilities related to restructuring activities:

						Year Ended December 31, 2023
In thousands						Consulting						Severance						Facility, asset impairment and other expense						Total
Beginning balance:						$	—					$	—					$	—					$	—
Additions						4,579						169						78						4,826
Payments and adjustment						(1,005)						(25)						(40)						(1,070)
Ending balance:						$	3,574					$	144					$	38					$	3,756

In connection with our cost-saving and restructuring initiatives, we expect to incur total restructuring charges of $10.1 million through the end of 2024.

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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.

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Reference 1: 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 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 420
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org//1943274/2147482017/420-10-50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 420
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 420
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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-Publisher FASB
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 420
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
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