v3.20.4

Restructuring

12 Months Ended

Dec. 31, 2020

Restructuring

Restructuring

4. Restructuring

In December 2019, the Company approved and adopted a plan to restructure the Company's business operations to drive long term sustainable revenue growth, better align resources, improve operational efficiencies and to increase profitability. Under this plan, the Company's management and employees will be focused primarily on managing its key business of i) providing services to the wireless carriers, ii) generating business on military bases, and iii) growing the Company's multifamily business, in addition to managing the profitability of the Company's legacy business such as retail and advertising. As part of the business realignment plan, the Company eliminated approximately 80 positions. We completed our restructuring activities and modified our reportable segments and reporting unit in 2020, which is the period that such actions were completed.

Restructuring charges, which were comprised of employee severance and benefits expense, recorded within selling, general and administrative expenses in the consolidated statement of operations amounted to $2,298 for the year ended December 31, 2019. Restructuring activity for the years ended December 31, 2020 and 2019 was as follows:

​

​	​	​	​
​		Accrued Employee
​	​	Severance and
​	​	Benefits
Balance, January 1, 2019	​	$	—
Additional accruals	​		2,298
Adjustments	​		(49)
Cash payments	​		—
Non-cash settlements	​		—
Balance, December 31, 2019	​	​	2,249
Additional accruals	​		—
Adjustments	​		—
Cash payments	​		(2,249)
Non-cash settlements	​		—
Balance, December 31, 2020	​	$	—

​

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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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