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Restructuring

9 Months Ended

Sep. 30, 2021

Restructuring And Related Activities [Abstract]

Restructuring

19. RESTRUCTURING

During the second half of 2019, the Company initiated a restructuring plan to realign its expense structure with the reduction in revenue experienced in recent years and overall Company objectives. As part of this restructuring plan, the Company announced plans to reduce its overall operating expenses, both in the U.S. and internationally. Management continued to assess the efficiency of operations during 2020 and the first nine months of 2021 and, in turn, consolidated locations and personnel, among other things, where possible.

In February 2019, the Company announced the restructuring of a certain portion of its workforce predominantly in Germany, which included the closure of the Company’s office location in Munich, Germany accompanied by relocation or severance benefits for the affected employees. Voluntary early retirement was offered to certain other employees and was announced in March 2019 and again in August 2020.

The cumulative amount of restructuring expenses incurred as of September 30, 2021 for the restructuring plans was $12.5 million.

A reconciliation of the beginning and ending restructuring liability, which is included in accrued wages and benefits in the Condensed Consolidated Balance Sheets is as follows:

		Three Months Ended				Nine Months Ended
(In thousands)		September 30, 2021				September 30, 2021
Balance at beginning of period		$	1,521			$	4,186
Plus: Amounts charged to cost and expense			—				309
Less: Amounts paid			(42	)			(3,016	)
Balance as of September 30, 2021		$	1,479			$	1,479

(In thousands)		For the Year Ended December 31, 2020
Balance as of December 31, 2019		$	1,568
Plus: Amounts charged to cost and expense			6,229
Less: Amounts paid			(3,611	)
Balance as of December 31, 2020		$	4,186

Restructuring expenses included in the Condensed Consolidated Statements of Income (Loss) were as follows:

		Three Months Ended								Nine Months Ended
		September 30,								September 30,
(In thousands)		2021				2020				2021				2020
Network Solutions - Cost of revenue		$	—			$	187			$	12			$	220
Services & Support - Cost of revenue			—				45				3				68
Cost of revenue		$	—			$	232			$	15			$	288
Selling, general and administrative expenses (1)			—				1,050				145				1,622
Research and development expenses (1)			—				621				149				1,738
Total restructuring expenses		$	—			$	1,903			$	309			$	3,648

(1) The Company does not allocate selling, general and administrative expense and research and development expense to the segment level.

Components of restructuring expense by geographic area were as follows:

		Three Months Ended								Nine Months Ended
		September 30,								September 30,
(In thousands)		2021				2020				2021				2020
United States		$	—			$	448			$	212			$	2,191
International			—				1,455				97				1,457
Total restructuring expenses		$	—			$	1,903			$	309			$	3,648

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- References

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

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