Restructuring Charges

12 Months Ended

Dec. 31, 2017

Restructuring and Related Activities [Abstract]

Restructuring Charges

Restructuring Charges

In the years ended December 31, 2017 and 2016, the Company recorded $1.5 million and $11.1 million, respectively in restructuring costs within operating expenses related to focused reductions of its workforce. The Company began substantially formulating plans around this workforce reduction during the first quarter of 2016 in conjunction with its merger of TriVascular. The targeted reductions and other restructuring activities were initiated to provide efficiencies and realign resources as well as to allow for continued investment in strategic areas and to drive growth.

The Company expects to incur a total of $12.6 million in restructuring charges upon the completion of the plan, which represents the Company’s best estimate as of December 31, 2017.

The recognition of restructuring charges requires that the Company make certain judgments and estimates regarding the nature, timing and amount of costs associated with the planned reductions of workforce. At the end of each reporting period, the Company will evaluate the remaining accrued balance to ensure that no excess accruals are retained and the utilization of the provisions are for their intended purpose in accordance with developed plans. The following table reflects the movement of activity of the restructuring reserve for the year ended December 31, 2017:

	One-time Termination Benefits
Accrual balance as of December 31, 2016	$	2,754
Restructuring charges	1,477
Utilization	(3,223		)
Accrual balance as of December 31, 2017	$	1,008

The accrual balance as of December 31, 2017 is classified within accrued expenses and other current liabilities in the Company’s Consolidated Balance Sheets.