Restructuring Charge

3 Months Ended

Mar. 31, 2022

Restructuring and Related Activities [Abstract]

Restructuring Charge

Restructuring Charge

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.

Three months ended March 31, 2022 vs. Three months ended March 31, 2021

We recorded a restructuring charge of $5.3 million for the three months ended March 31, 2022. This charge consists of:

•Severance costs of $2.5 million under ongoing benefit arrangements. Approximately 20 employees were impacted. Most of the employees impacted exited the Company by the end of the first quarter of 2022. The cash payments for these employees will be substantially completed by the end of the third 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 $2.8 million.

We recorded a restructuring charge of $5.8 million for the three months ended March 31, 2021. This charge consists of:

•Severance costs of $4.7 million under ongoing benefit arrangements. Approximately 35 employees were impacted. Most of the employees impacted exited the Company by the end of the first quarter of 2021. The cash payments for these employees were substantially completed by the end of the fourth quarter of 2021; and

•Contract termination, write down of right of use assets and other exit costs, including those to consolidate or close facilities of $1.1 million.

The following table sets forth the restructuring reserves and utilization for the three months ended March 31, 2022 and the three months ended March 31, 2021:

	Severance and termination		Contract termination and other exit costs		Total
2022:
Balance remaining as of December 31, 2021	$	4.7	$	3.3	$	8.0
Charge taken during first quarter 2022 (1)	2.5		0.6		3.1
Payments made during first quarter 2022	(3.4)		(0.6)		(4.0)
Balance remaining as of March 31, 2022	$	3.8	$	3.3	$	7.1
2021:
Balance remaining as of December 31, 2020	$	2.6	$	7.1	$	9.7
Charge taken during first quarter 2021 (1)	4.7		(0.3)		4.4
Payments made during first quarter 2021	(2.4)		(0.9)		(3.3)
Balance remaining as of March 31, 2021	$	4.9	$	5.9	$	10.8

(1)Balance excludes charges accounted for under ASU No. 2016-02, "Leases (Topic 842)."