Restructuring Charges

9 Months Ended

Sep. 30, 2022

Restructuring and Related Activities [Abstract]

We incurred restructuring charges (which generally consist of employee severance and termination costs, and contract terminations). These charges were incurred as a result of eliminating, consolidating, standardizing and/or automating our business functions.

Three months ended September 30, 2022 vs. Three months ended September 30, 2021

We recorded total restructuring charges of $6.6 million for the three months ended September 30, 2022, consisting of:

•Severance costs of $5.5 million under ongoing benefit arrangements. Approximately 170 employees were impacted. Most of the employees impacted exited the Company by the end of the third quarter of 2022. The cash payments for these employees will be substantially completed by the end of the fourth quarter of 2022; and

•Contract termination, write down of right of use assets and other exit costs, including those to consolidate or close facilities of $1.1 million.

We recorded total restructuring charges of $4.8 million for the three months ended September 30, 2021, consisting of:

•Severance costs of $4.0 million under ongoing benefit arrangements. Approximately 20 employees were impacted. Most of the employees impacted exited the Company by the end of the third quarter of 2021. The cash payments for these employees were substantially completed by the end of the third quarter of 2022; and

•Contract termination, write down of right of use assets and other exit costs, including those to consolidate or close facilities of $0.8 million.

Nine months ended September 30, 2022 vs. Nine months ended September 30, 2021

We recorded total restructuring charges of $14.3 million for the nine months ended September 30, 2022, consisting of:

•Severance costs of $9.9 million under ongoing benefit arrangements. Approximately 210 employees were impacted. Most of the employees impacted exited the Company by the end of the third quarter of 2022. The cash payments for these employees will be substantially completed by the end of the fourth quarter of 2022; and

•Contract termination, write down of right of use assets and other exit costs, including those to consolidate or close facilities of $4.4 million.

We recorded total restructuring charges of $20.7 million for the nine months ended September 30, 2021, consisting of:

•Severance costs of $16.7 million under ongoing benefit arrangements. Approximately 175 employees were impacted. Most of the employees impacted exited the Company by the end of the third quarter of 2021. The cash payments for these employees were substantially completed by the end of the third quarter of 2022; and

•Contract termination, write down of right of use assets and other exit costs, including those to consolidate or close facilities of $4.0 million.

The following table sets forth the restructuring reserves and utilization for the three months ended March 31, 2022, June 30, 2022, September 30, 2022, March 31, 2021, June 30, 2021 and September 30, 2021:


	Severance and termination		Contract termination and other exit costs		Total

2022:
Balance remaining as of December 31, 2021	$	4.7	$	3.3	$	8.0
Charge taken during first quarter 2022 (1)	2.5		0.6		3.1
Payments made during first quarter 2022	(3.4)		(0.6)		(4.0)
Balance remaining as of March 31, 2022	$	3.8	$	3.3	$	7.1
Charge taken during second quarter 2022 (1)	1.9		—		1.9
Payments made during second quarter 2022	(2.7)		(0.6)		(3.3)
Balance remaining as of June 30, 2022	$	3.0	$	2.7	$	5.7
Charge taken during third quarter 2022 (1)	5.5		0.4		5.9
Payments made during third quarter 2022	(4.3)		(0.6)		(4.9)
Balance remaining as of September 30, 2022	$	4.2	$	2.5	$	6.7

2021:
Balance remaining as of December 31, 2020	$	2.6	$	7.1	$	9.7
Charge taken during first quarter 2021 (1)	4.7		(0.3)		4.4
Payments made during first quarter 2021	(2.4)		(0.9)		(3.3)
Balance remaining as of March 31, 2021	$	4.9	$	5.9	$	10.8
Charge taken during second quarter 2021 (1)	8.0		0.3		8.3
Payments made during second quarter 2021	(3.9)		(1.0)		(4.9)
Balance remaining as of June 30, 2021	$	9.0	$	5.2	$	14.2
Charge taken during third quarter 2021 (1)	4.0		—		4.0
Payments made during third quarter 2021	(4.7)		(0.6)		(5.3)
Balance remaining as of September 30, 2021	$	8.3	$	4.6	$	12.9

(1)Balance excludes charges accounted for under ASU No. 2016-02, "Leases (Topic 842)."