The Company considers all highly liquid investments with original or remaining maturities of 90 days or less at the date of purchase to be cash equivalents. Cash and cash equivalents are recorded at cost, which approximates fair value. Restricted cash is included in other long-term assets on the consolidated balance sheets. The following table provides a reconciliation of cash, cash equivalents and restricted cash reported in the consolidated balance sheets that sum to the total of the amounts reported in the consolidated statement of cash flows (in thousands):


	June 30, 2022		December 31, 2021
Cash and cash equivalents	$	416,137	$	413,743
Restricted cash included in other long-term assets		169		269
Total cash, cash equivalents, and restricted cash	$	416,306	$	414,012

Restricted cash represents amounts required for a contractual agreement with an insurer for the payment of potential health insurance claims, and term deposits for bank guarantees.

Property and equipment consisted of the following (in thousands):


	June 30,		December 31,
	2022		2021
Land	$	9,728	$	9,888
Building and improvements		18,002		18,358
Computer equipment and software		46,092		45,027
Furniture, equipment and other		12,445		12,947
Leasehold improvements		8,746		9,829
Right-of-use assets under finance leases		2,033		2,532
Total property and equipment		97,046		98,581
Less: accumulated depreciation and amortization		57,676		58,103
Property and equipment, net	$	39,370	$	40,478

Depreciation expense, including amortization of right-of-use assets under finance leases, was $1.9 million and $3.7 million for the three and six months ended June 30, 2022, respectively, and $1.9 million and $3.7 million for the three and six months ended June 30, 2021, respectively.

The following table provides the details of other accrued expenses and current liabilities (in thousands):


	June 30,		December 31,
	2022		2021
Obligations for acquisition of businesses	$	17,103	$	87,636
Income taxes payable		8,524		5,887
Accrued VAT		4,197		6,047
Accrued professional fees		4,621		3,516
Employee stock purchase plan obligations		4,431		4,222
Accrued royalties		2,316		2,537
Defined contribution plan liabilities		1,368		1,513
Non-income tax liabilities		1,133		1,653
Billings in excess of cost		990		1,459
Other current liabilities		4,761		7,756
Total	$	49,444	$	122,226

The following table provides details of other long-term liabilities (in thousands):


	June 30,		December 31,
	2022		2021
Pension and other post retirement liabilities	$	14,833	$	15,086
Deferred tax liabilities		14,485		15,389
Other long-term liabilities		12,153		12,419
Total	$	41,471	$	42,894

In February 2022, the Company’s Board of Directors approved a stock repurchase program to repurchase up to $50.0 million of the Company’s Class A Common Stock. Purchases under the stock repurchase program may be made from time to time in the open market at prevailing prices, or through privately negotiated transactions. The Company is not obligated to repurchase any dollar amount or number of shares, and the stock repurchase program may be suspended or terminated at any time. All shares repurchased under the stock repurchase program are retired.

During the period ended June 30, 2022, under our stock repurchase program, we repurchased 85,119 shares at an average price of $51.52 per share for a total cost of $4.4 million. As of June 30, 2022, $45.6 million of shares of Class A Common Stock remained available for repurchase under the program.

In 2017, the Company issued 200,000 shares of Class A Common Stock to a third-party as partial consideration for the purchase of developed technology. These shares had a put right that could be exercised by the holder five years from date of purchase at $12.50 per share that required the shares to be recorded at issuance date fair value and classified as mezzanine equity in the consolidated balance sheet.

During the year ended December 31, 2020, the third-party holder sold 133,336 shares on the open market and as a result, the issuance date fair value of those shares was reclassified into permanent equity from mezzanine equity. As of June 30, 2022, the put right has lapsed and the issuance date fair value of the remaining 66,664 shares were reclassified into permanent equity from mezzanine equity.

In 2021, the Company initiated a restructuring plan to realign resources with the Company’s business outlook and cost structure. The restructuring plan resulted in charges for employee termination benefits of $1.7 million and $5.1 million for the three and six months ended June 30, 2021, respectively. There were no restructuring costs for the three and six months ended June 30, 2022. The restructuring costs were attributable primarily to the Software reportable segment. The restructuring plan was completed, and all amounts were paid in 2021.

Other expense, net consists of the following (in thousands):


	Three Months Ended June 30,						Six Months Ended June 30,
	2022			2021			2022			2021
Expense on repurchase of convertible senior notes	$	16,621		$	—		$	16,621		$	—
Foreign exchange loss		5,741			787			7,654			1,716
Other income, net		(455	)		(79	)		(300	)		(173	)
Other expense, net	$	21,907		$	708		$	23,975		$	1,543