Annual report pursuant to Section 13 and 15(d)

Restructuring Activity (Tables)

v3.24.4
Restructuring Activity (Tables)
12 Months Ended
Dec. 31, 2024
Restructuring and Related Activities [Abstract]  
Summary of Restructuring and Related Costs
The following table presents the activity related to the restructuring plans, which is included in restructuring charges in the consolidated statements of operations:
Year Ended December 31,
2024 2023 2022
(in thousands)
Employee separation expenses $ 28,920  $ 17,897  $ 1,795 
Lease related charges 7,213  42  462 
Other 17,246  1,847 
$ 53,379  $ 19,786  $ 2,265 
Summary of Restructuring Reserve by Type of Cost
The following table presents a roll-forward of the Company’s restructuring liability for the years ended December 31, 2024 and 2023. 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, 2022 $ 971  $ 103  $ $ 1,082 
Restructuring charges 17,897  42  1,847  19,786 
Cash payments (11,388) (142) (265) (11,795)
Non-cash charges and adjustments (97) (5) (670) (772)
Liability as of December 31, 2023 7,383  (2) 920  8,301 
Restructuring charges 28,920  7,213  17,246  53,379 
Cash payments (33,221) (183) (1,108) (34,512)
Non-cash charges and adjustments 976  (5,731) (6,702) (11,457)
Liability as of December 31, 2024 4,058  1,297  10,356  15,711 
Less: current portion as of December 31, 2024 (4,058) (1,297) (5,667) (11,022)
Long-term portion as of December 31, 2024 $ —  $ —  $ 4,689  $ 4,689