|9 Months Ended|
Sep. 30, 2016
|Restructuring and Related Activities [Abstract]|
In connection with the Company's acquisition of Entropic, the Company entered into a restructuring plan to address matters primarily relating to the integration of the Company and Entropic businesses. In connection with this plan, the Company has terminated the employment of 87 Entropic employees since the acquisition closing date. The Company did not incur any associated employee separation charges in the three and nine months ended September 30, 2016, as such terminations did not occur during such periods. The Company recognized non-recurring employee separation charges of approximately $5.7 million in the nine months ended September 30, 2015 related to these terminations. During the three months ended September 30, 2015, the Company recorded a $0.1 million reduction in employee separation charges.
Additionally, in connection with the restructuring plan, the Company ceased use of the former Entropic headquarters in 2015. The Company recognized lease charges of $0 and $2.0 million in the three and nine months ended September 30, 2016, respectively, and $0.6 million and $6.2 million in the three and nine months ended September 30, 2015, respectively, based on the adjustment to the net present value of the remaining lease obligation on the cease of use date as well as the execution of the final sublease. The Company believes all restructuring charges related to the Entropic acquisition have been incurred as of September 30, 2016.
The following table presents the activity related to the plan, which is included in restructuring charges in the Consolidated Statements of Operations:
The following table presents a roll-forward of the Company's restructuring liability as of September 30, 2016, which is included in accrued expenses and other current liabilities in the Consolidated Balance Sheets:
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.
Reference 1: http://www.xbrl.org/2003/role/presentationRef