Restructuring Charges

12 Months Ended

Dec. 31, 2023

Restructuring and Related Activities [Abstract]

In May 2023, we approved a worldwide restructuring plan (the 2023 Plan) designed to improve profitability and cash flow. This will be achieved through the elimination of 850-950 positions worldwide in part through further centralization and standardization of processes, including the expansion of our shared services activities, increased automation, and the consolidation or closure of select facilities in North America. Total charges are expected to be $60 million-$70 million and we expect to substantially complete these actions by the end of the first half of 2024.

Activity in our restructuring reserves was as follows:


	2023 Plan		Prior Plan		Total
Balance at December 31, 2021	$	—	$	5,747	$	5,747
Amounts charged to expense	—		18,715		18,715
Cash payments	—		(15,406)		(15,406)
Noncash activity	—		(1,409)		(1,409)
Balance at December 31, 2022	—		7,647		7,647
Amounts charged to expense	57,986		3,599		61,585
Cash payments	(23,197)		(11,246)		(34,443)
Noncash activity	(8,661)		—		(8,661)
Balance at December 31, 2023	$	26,128	$	—	$	26,128

Components of restructuring expense were as follows:


	Year Ended December 31, 2023						Year Ended December 31, 2022
	2023 Plan		Prior Plan		Total		Prior Plan
Severance	$	49,325	$	3,057	$	52,382	$	14,750
Facilities and other	8,661		542		9,203		3,965
Total	$	57,986	$	3,599	$	61,585	$	18,715