Restructuring Charges

3 Months Ended

Mar. 31, 2024

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-$70 million and we expect to substantially complete these actions by the end of the first half of 2024. Total charges under the 2023 Plan to date are $62 million.

Activity in our restructuring reserves was as follows:


	2023 Plan		Prior Plan		Total
Balance at January 1, 2024	$	26,128	$	—	$	26,128
Amounts charged to expense	4,315		—		4,315
Cash payments	(14,989)		—		(14,989)
Noncash activity	(875)		—		(875)
Balance at March 31, 2024	$	14,579	$	—	$	14,579

Balance at January 1, 2023	$	—	$	7,647	$	7,647
Amounts charged to expense	—		3,599		3,599
Cash payments	—		(4,641)		(4,641)

Balance at March 31, 2023	$	—	$	6,605	$	6,605

Components of restructuring expense were as follows:








	Three Months Ended March 31, 2024		Three Months Ended March 31, 2023

Severance	$	3,378	$	3,057
Facilities and other	937		542
Total	$	4,315	$	3,599