Quarterly report pursuant to Section 13 or 15(d)

Restructuring (Tables)

v3.23.3
Restructuring (Tables)
 9 Months Ended
Sep. 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 September 30, 2023

 

Nine Months Ended September 30, 2023

 

Operations and technology optimization

 

$

10,824

 

$

18,529

 

Compensation and benefits

 

 

5,109

 

 

6,709

 

Asset impairment and other termination costs

 

 

544

 

 

11,057

 

Total

 

$

16,477

 

$

36,295

 
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

 

 

22,953

 

 

6,709

 

 

11,057

 

 

40,719

 

Payments

 

 

(11,390

)

 

(4,128

)

 

(8,220

)

 

(23,738

)

Non-cash adjustments

 

 

—

 

 

—

 

 

(437

)

 

(437

)

Balance at September 30, 2023

 

$

11,563

 

$

2,581

 

$

2,400

 

$

16,544

 

 

As of September 30, 2023, $11.2 million of the restructuring liability was included in Accounts payable and accrued liabilities and $5.3 million was included in Current Accrued compensation on the Consolidated Balance Sheets.