Quarterly report pursuant to Section 13 or 15(d)

Restructuring Activity (Tables)

v3.23.1
Restructuring Activity (Tables)
 3 Months Ended
Mar. 31, 2023
Restructuring and Related Activities [Abstract]  
Summary of Restructuring and Related Costs The following table presents the activity related to the restructuring plan, which is included in restructuring charges in the consolidated statements of income:
Three Months Ended March 31,
2023 2022
(in thousands)
Employee separation expenses $ 4,589  $ — 
Lease related charges 8  — 
Other 51  — 
$ 4,648  $ — 
Summary of Restructuring Reserve by Type of Cost The following table presents a roll-forward of the Company’s restructuring liability for the three months ended March 31, 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  $ 8  $ 1,082 
Restructuring charges 4,589  8  51  4,648 
Cash payments (2,463) (61) (51) (2,575)
Non-cash charges and adjustments —  21  —  21 
Liability as of March 31, 2023 3,097  71  8  3,176 
Less: current portion as of March 31, 2023 (3,097) (71) (8) (3,176)
Long-term portion as of March 31, 2023 $ —  $ —  $ —  $ —