Quarterly report pursuant to Section 13 or 15(d)

Restructuring (Tables)

v3.23.2
Restructuring (Tables)
 6 Months Ended
Jun. 30, 2023
Restructuring and Related Activities [Abstract]  
Summary of restructuring expense The table below presents the restructuring expense incurred in the period:

 

 

Three Months Ended June 30, 2023

 

Six Months Ended June 30, 2023

 

Operations and technology optimization

 

$

6,271

 

$

7,705

 

Compensation and benefits

 

 

940

 

 

1,599

 

Asset impairment and other termination costs

 

 

9,928

 

 

10,514

 

Total

 

$

17,139

 

$

19,818

 
Summary of changes in the restructuring liability

The table below presents a summary of changes in the restructuring liability:

 

 

 

Operations and Technology Optimization

 

 

Compensation and Benefits

 

 

Asset Impairment
and Other
Termination Costs

 

 

Total

 

Balance at January 1, 2023

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

Accrued costs

 

 

7,705

 

 

 

1,599

 

 

 

10,514

 

 

 

19,818

 

Payments

 

 

(2,040

)

 

 

(1,076

)

 

 

(4,477

)

 

 

(7,593

)

Non-cash adjustments

 

 

1,343

 

 

 

—

 

 

 

(437

)

 

 

906

 

Balance at June 30, 2023

 

$

7,008

 

 

$

523

 

 

$

5,600

 

 

$

13,131

 

 

As of June 30, 2023, $12.4 million of the restructuring liability was included in Accounts payable and accrued liabilities and $0.7 million was included in Current Accrued compensation on the Consolidated Balance Sheets.