Quarterly report pursuant to Section 13 or 15(d)

Restructuring Activity

v3.22.2
Restructuring Activity
 6 Months Ended
Jun. 30, 2022
Restructuring and Related Activities [Abstract]  
Restructuring Activity Restructuring Activity
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 income:
Three Months Ended June 30, Six Months Ended June 30,
2022 2021 2022 2021
(in thousands)
Employee separation expenses $ —  $ 20  $ —  $ 1,273 
Lease related charges 462  —  462  608 
Other —  18  —  323 
$ 462  $ 38  $ 462  $ 2,204 
Lease related charges for the six months ended June 30, 2022 included the impairment of leased right-of-use assets of approximately $0.5 million related to exiting a redundant facility.
Lease related charges for the six months ended June 30, 2021 included the impairment of leased right-of-use assets and leasehold improvements of approximately $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 six months ended June 30, 2022. 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, 2021 $ —  $ 444  $ —  $ 444 
Restructuring charges —  462  —  462 
Cash payments —  (170) —  (170)
Non-cash charges and adjustments —  (462) —  (462)
Liability as of June 30, 2022 —  274  —  274 
Less: current portion as of June 30, 2022 —  (256) —  (256)
Long-term portion as of June 30, 2022 $ —  $ 18  $ —  $ 18