Restructuring Charges

12 Months Ended

Dec. 31, 2021

Restructuring and Related Activities [Abstract]

We incurred restructuring charges (which generally consist of employee severance and termination costs, and contract terminations). These charges were incurred as a result of eliminating, consolidating, standardizing and/or automating our business functions.

We recorded a restructuring charge of $25.1 million for the year ended December 31, 2021. This charge consists of:

•Severance costs of $18.9 million under ongoing benefit arrangements. Approximately 190 employees were impacted. Most of the employees impacted exited the Company by the end of 2021. The cash payments for these employees will be substantially completed by the end of the first quarter of 2022; and

•Contract termination, write down of right of use assets and other exit costs, including those to consolidate or close facilities of $6.2 million.

We recorded a restructuring charge of $37.3 million for the year ended December 31, 2020. This charge consists of:

•Severance costs of $9.9 million under ongoing benefit arrangements. Approximately 165 employees were impacted. Most of the employees impacted exited the Company by the end of 2020. The cash payments for these employees were substantially completed by the end of the second quarter of 2021; and

•Contract termination, impairment of right of use assets and other exit costs, including those to consolidate or close facilities of $27.4 million.

We recorded a restructuring charge of $52.3 million for the year ended December 31, 2019 (Successor) and $0.1 million for the period from January 1, 2019 to February 7, 2019 (Predecessor). These charges consist of:

•Severance costs of $36.6 million (Successor) and $0.1 million (Predecessor) under ongoing benefit arrangements. Approximately 540 employees were impacted and exited the Company by the end of 2019. The cash payments for these employees were substantially completed by the end of the first quarter of 2020; and

•Contract termination, write down of right of use assets and other exit costs, including those to consolidate or close facilities of $15.7 million (Successor).

The following table sets forth the restructuring reserves and utilization:


	Severance and termination		Contract termination and other exit costs		Total
Predecessor:
Balance as of December 31, 2018	$	4.7	$	2.9	$	7.6
Charge taken from January 1 to February 7, 2019	0.1		—		0.1
Payments made through February 7, 2019	(1.6)		(0.5)		(2.1)
Reclassification related to leases pursuant to the adoption of Topic 842	—		(2.4)		(2.4)
Balance remaining as of February 7, 2019	$	3.2	$	—	$	3.2


Successor:
Balance as of December 31, 2018	$	—	$	—	$	—
Impact of purchase accounting	3.2		—		3.2
Charge taken during 2019 (1)	36.6		12.2		48.8
Payments and other adjustments made during 2019	(34.0)		(7.7)		(41.7)
Balance remaining as of December 31, 2019	$	5.8	$	4.5	$	10.3
Charge taken during 2020 (1)	9.9		5.9		15.8
Payments made during 2020	(13.1)		(3.3)		(16.4)
Balance remaining as of December 31, 2020	$	2.6	$	7.1	$	9.7
Charge taken during 2021 (1)	18.9		—		18.9
Payments made during 2021	(16.8)		(3.8)		(20.6)
Balance remaining as of December 31, 2021	$	4.7	$	3.3	$	8.0

(1)Balance excludes charges accounted for under Topic 842. See Note 7 "Leases" for further discussion.