Restructuring and Reorganization Costs

12 Months Ended

Dec. 31, 2020

Restructuring and Reorganization Costs [Abstract]

In 2019, the Company committed to an operational plan to reduce overall operating expenses, including the elimination of approximately 120 positions across the Company (the "2019 Organizational Realignment"). In the first half of 2020, this number was revised to approximately 100 positions as the operational plan drew closer to completion. The workforce reduction was designed to streamline operations and structure the Company in a way that is more agile and aligned around our plan to execute market-specific strategies tailored to different segments. The workforce reduction was substantially completed in the first quarter of 2020 with $8.5 million of costs incurred consisting primarily of one-time termination benefits for employee severance and related costs, which are recorded within "Compensation and benefits" on the Consolidated Statements of Operations in the Global Funds Transfer reporting segment.

The following table is a roll-forward of the reorganization costs accrual as of December 31, 2020:


(Amounts in millions)	2019 Organizational Realignment
Balance, December 31, 2019	$	4.6
Expenses	1.7
Cash payments	(6.3)

Balance, December 31, 2020	$	—

The following table is a summary of the total cumulative reorganization costs incurred to date in operating expenses as of December 31, 2020:


(Amounts in millions)	Total


Balance, December 31, 2019	$	6.8
First quarter 2020	0.7
Second quarter 2020	0.7
Third quarter 2020	(0.3)
Fourth quarter 2020	0.6



















Total cumulative reorganization costs incurred to date	$	8.5