RESTRUCTURING CHARGE

9 Months Ended

Sep. 30, 2022

Restructuring and Related Activities [Abstract]

RESTRUCTURING CHARGE

RESTRUCTURING CHARGE

The Company recorded $8,016 in restructuring charges during the three and nine months ended September 30, 2022. The Company did not record any restructuring charges for the three and nine months ended September 30, 2021.

The restructuring charges during the three and nine months ended September 30, 2022 were primarily related to the reorganization and consolidation activities in the Wealth Management segment and the Principal Investments - Communications and Other segment. Reorganization and consolidation activities consisted of reductions in workforce, facility closures, and related intangible impairments and asset disposals.

The following tables summarize the changes in accrued restructuring charge during the three and nine months ended September 30, 2022 and 2021:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Balance, beginning of period	$	574	$	676	$	624	$	727
Restructuring charge	8,016		—		8,016		—
Cash paid	(1,448)		(29)		(1,503)		(86)
Non-cash items	(4,620)		3		(4,615)		9
Balance, end of period	$	2,522	$	650	$	2,522	$	650

The following tables summarize the restructuring activities by reportable segment during the three and nine months ended September 30, 2022.

	Wealth Management		Principal Investments - Communications and Other		Total
Restructuring charge (recovery) for the three and nine months ended September 30, 2022
Employee termination	$	354	$	906	$	1,260
Impairment of intangibles	2,012		2,162		4,174
Facility closure and consolidation	1,741		841		2,582
Total restructuring charge	$	4,107	$	3,909	$	8,016