v3.24.1.1.u2

RESTRUCTURING CHARGES | 3 Months Ended
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Mar. 31, 2024
Restructuring and Related Activities [Abstract] |
RESTRUCTURING CHARGES | RESTRUCTURING CHARGES Restructuring Charges The following table presents the components of restructuring charges.
|  | Three Months Ended March 31, |  |
Restructuring Charges |  | 2024 |  | 2023 |  |  |  |
|  | (amounts in thousands)
Costs to exit duplicative and loss-making contracts |  | $ | (437) |  |  | $ | 395 |  |  |  |  |
Workforce reduction |  | 876 |  |  | 1,860 |  |  |  |  |
Other restructuring costs |  | 3 |  |  | 166 |  |  |  |  |
Total restructuring charges |  | $ | 442 |  |  | $ | 2,421 |  |  |  |  |
Restructuring Plan During the first quarter of 2023, the Company initiated a restructuring plan to help mitigate the adverse impact that the current macroeconomic conditions were having on financial results and business operations. The Company continues to evaluate what, if any, further actions may be necessary related to the current macroeconomic conditions. As such, this is an ongoing restructuring program. The restructuring plan primarily included workforce reduction charges that consists of one-time termination benefits and the related costs to mitigate the adverse impacts of the current macroeconomic conditions, which includes exiting duplicative and loss-making contracts. The estimated amount of unpaid restructuring charges as of March 31, 2024 includes amounts in accrued expenses that are expected to be paid in less than one year.
Restructuring Charges Outstanding |  | Three Months Ended March 31, 2024 |  | Twelve Months Ended December 31, 2023
|  | (amounts in thousands)
Restructuring charges, beginning balance |  | $ | 2,652 |  |  | $ | 2,750 |
Additions |  | 442 |  |  | 14,975 |
Payments/Settlements |  | (1,909) |  |  | (15,073) |
Restructuring charges unpaid and outstanding |  | 1,185 |  |  | 2,652 |
Restructuring charges - noncurrent portion |  | — |  |  | — |
Restructuring charges - current portion |  | $ | 1,185 |  |  | $ | 2,652 |

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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 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 -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 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//420/tableOfContent Reference 4: 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 Reference 5: 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 + Details
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