MaxLinear, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Restructuring Activity

Restructuring Activity

3 Months Ended

Mar. 31, 2021

Restructuring and Related Activities [Abstract]

From time to time, the Company approves and implements restructuring plans as a result of internal resource alignment and cost saving measures. Such restructuring plans include terminating employees, vacating certain leased facilities, and cancellation of contracts.

The following table presents the activity related to the restructuring plans, which is included in restructuring charges in the consolidated statements of operations:


	Three Months Ended March 31,
	2021		2020
	(in thousands)
Employee separation expenses	$	1,253	$	44
Lease related charges	608		275
Other	305		170
	$	2,166	$	489

Lease related charges for the three months ended March 31, 2021 included the impairment of leased right-of-use assets and leasehold improvements of $0.4 million and $0.2 million, respectively, related to exiting a redundant facility.

The following table presents a roll-forward of the Company’s restructuring liability for the three months ended March 31, 2021. The restructuring liability is included in accrued expenses and other current liabilities and other long-term liabilities in the consolidated balance sheets.


	Employee Separation Expenses		Lease Related Charges		Other		Total
	(in thousands)
Liability as of December 31, 2020	$	3,274	$	720	$	3	$	3,997
Restructuring charges	1,253		608		305		2,166
Cash payments	(1,659)		(83)		(7)		(1,749)
Reimbursement from Intel	(2,337)		—		—		(2,337)
Non-cash charges and adjustments	—		(547)		(301)		(848)

Liability as of March 31, 2021	531		698		—		1,229
Less: current portion as of March 31, 2021	(531)		(379)		—		(910)
Long-term portion as of March 31, 2021	$	—	$	319	$	—	$	319

As of March 31, 2021, the remaining lease related charges primarily consist of common area maintenance obligations. The Company does not expect to incur additional material costs related to current restructuring plans.