Restructuring Charge

3 Months Ended

Mar. 31, 2013

Restructuring Charge

Restructuring Charge

6.      Restructuring Charge

In September 2011, the Company recorded a restructuring charge as a result of the consolidation of office space in New Jersey. The consolidation of office space eliminated redundant office space acquired as part of the acquisition of substantially all of the assets and certain liabilities of HCL Expense Management Services, Inc. (“HCL-EMS”) in January 2011 and of certain assets and liabilities of Telwares, Inc. and its subsidiary Vercuity, Inc. (“Telwares”) in March 2011.  This charge reflects the fair value of the remaining rent payments for the office space the Company ceased using, net of estimated sublease income, plus real estate commissions and office relocation costs. During the three months ended March 31, 2013, the Company recorded an adjustment to the original restructuring charge as a result of the Company’s inability to sublease the office space in the time period originally expected.  The liabilities related to the restructuring charge are included in other current liabilities and deferred rent and other non-current liabilities on the Company’s condensed consolidated balance sheet. The following table summarizes the activity in the liabilities related to the restructuring charge for the three months ended March 31, 2013:

	Lease costs, net
	of estimated
(in thousands)	sublease income			Other Costs			Total
Remaining liability at December 31, 2012	$	613		$	(8	)	$	605
Cash payments	(159		)	—			(159		)
Non-cash charges and other	—			1			1
Restructuring charge	155			—			155
Remaining liability at March 31, 2013	609			(7		)	602
	less: current portion						(305		)
	Long-term portion						297