Exit Costs

12 Months Ended

Dec. 31, 2022

Restructuring and Related Activities [Abstract]

Exit Costs

Exit Costs

On February 24, 2022, Russian forces launched significant military action against Ukraine. As a result of this conflict and the sanctions imposed by the European Union, United Kingdom, United States and Canada, among others, the Company began to exit its operations in Russia during March 2022. As of August 10, 2022, the Company no longer had operating subsidiaries in Russia, and as of December 31, 2022, the Company had relocated substantially all of its employees outside of Russia. All costs associated with its exit activities from Russia are included in the consolidated statements of operations in its income from continuing operations under the line item, Exit costs.

Exit costs in connection with the winding down of operations in Russia include employee severance and fringe benefit costs, the loss on the sales of the Company’s Russian subsidiaries, and other associated relocation costs.

For employee severance and fringe benefit costs, the Company incurred costs of $1,244 during the year ended December 31, 2022. The Company does not expect to incur additional employee severance and fringe benefit costs related to the winding down of its operations in Russia that would be significant to its results of operations.

For other associated relocation costs, the Company incurred $8,282 in the year ended December 31, 2022. The Company expects to incur an additional $1,318 in other associated costs, of which the majority is expected to be incurred during the quarter ended March 31, 2023.

During the year ended December 31, 2022, the Company completed its sale of its two Russia-based subsidiaries. The Company recorded a loss on the sale of its Russian subsidiaries of approximately $1,738, primarily consisting of the disposal of fixed assets, which was included in exit costs in the consolidated statement of operations.