Restructuring and Other Exit Costs (Income)

12 Months Ended

Dec. 31, 2019

Restructuring and Related Activities [Abstract]

Restructuring and Other Exit Costs (Income)

Note 17—Restructuring and Other Exit Costs (Income)

On April 30, 2017, the Board of Directors approved a plan to increase efficiency and streamline the Company’s cost structure through headcount reductions and a reduction in internal program expenses (the “May Actions”). On June 16, 2017, the Board of Directors approved additional initiatives designed to improve focus on key strategic growth opportunities (together with the May Actions, the “Actions”). The Actions included total headcount reductions of 245 positions or 23% of the total workforce as of December 31, 2016, closing ALM, a marketplace in France, and closing or consolidating certain international offices.

In connection with the Actions, the Company incurred $13.9 million of restructuring and other exit costs in the year ended December 31, 2017, comprised of employee severance, stock compensation modifications, and other exit costs, largely made up of cash expenditures. The Company generated $0.2 million of income in the year ended December 31, 2018 due to changes in estimated severance costs.

The following table displays restructuring and other exit costs (income) recorded related to the Actions and a rollforward of the charges to the accrued expenses balance as of December 31, 2019 (in thousands):

	Severance Charge			Stock-Based Compensation			Other Exit Costs			Total
Balance, December 31, 2016	$	—		$	—		$	—		$	—
Total restructuring and other exit costs	10,204			2,701			992			13,897
Costs charged against equity/assets	—			(2,701		)	(286		)	(2,987		)
Cash payments	(8,896		)	—			(672		)	(9,568		)
Balance, December 31, 2017	1,308			—			34			1,342
Total restructuring and other exit income	(244		)	—			(5		)	(249		)
Cash payments	(1,064		)	—			(29		)	(1,093		)
Balance, December 31, 2018	—			—			—			—
Balance, December 31, 2019	$	—		$	—		$	—		$	—

Total restructuring and other exit costs (income) included in the Consolidated Statements of Operations are as follows (in thousands):

	Year Ended   December 31,
	2019		2018			2017
Cost of revenue	$	—	$	(19	)	$	738
Marketing	—		(82		)	2,950
Product development	—		(110		)	3,232
General and administrative	—		(38		)	6,977
Total restructuring and other exit costs (income)	$	—	$	(249	)	$	13,897