v3.22.4
Restructuring and Related Activities
12 Months Ended
Dec. 31, 2022
Restructuring and Related Activities [Abstract]  
RESTRUCTURING 5: RESTRUCTURING
In 2022, we announced organizational changes to support our enterprise strategy of accelerating our digital transformation and productivity initiatives. We recognized restructuring charges of $36.7 million related to cost saving initiatives including workforce reductions and reprioritizing our investments in technology. For severance and other operating expenses related to restructuring activities, we paid $2.7 million in cash in 2022 with nearly all the remaining $19.0 million expected to be paid in 2023.
A summary of the restructuring charges recognized is presented below (in thousands):
Twelve Months Ended December 31,
2022
Severance(1)
$18,872 
Other selling, general, and administrative expenses(2)
15,150 
Other personnel expenses(1)
2,662 
Total $36,684 
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(1) Amounts are included within personnel expenses in our consolidated statement of operations.
(2) We recognized expense of $14.8 million related to the impairment of certain capitalized internally developed software projects and $0.4 million related other miscellaneous exit costs within other selling, general, and administrative expenses in our consolidated statement of operations.
The following table summarizes restructuring charges by reportable segment for the twelve months ended December 31, 2022 ($ in thousands):
NASTGlobal ForwardingAll Other and CorporateConsolidated
Personnel expenses$6,323 $3,831 $11,380 $21,534 
Other selling, general, and administrative expenses3,175 3,174 8,801 15,150 
The following table summarizes restructuring reserves included in our consolidated balance sheet as of December 31, 2022:
Accrued Severance and Other Personnel ExpensesOther Selling, General, and Administrative ExpensesTotal
Balance, December 31, 2021$— $— $— 
  Restructuring charges21,534 15,150 36,684 
  Cash payments(2,558)(94)(2,652)
  Settled non-cash— (15,056)(15,056)
Balance, December 31, 2022$18,976 $— $18,976