Restructuring Charges

12 Months Ended

Dec. 31, 2024

Restructuring and Related Activities [Abstract]

Restructuring Charges

Restructuring Charges

2024 Plan

During the second quarter of 2024, we approved a worldwide cost reduction initiative (the "2024 Plan") to realize cost reductions and improve efficiencies. Under this plan, we eliminated approximately 2,800 positions and incurred charges of $74 million. We expect the 2024 Plan to be complete by the end of the first half of 2025.

2023 Plan

We completed our 2023 Plan in the second quarter of 2024. Under this plan, we eliminated 1,049 positions and recognized cumulative charges of $69 million.

Activity in our restructuring reserves was as follows:

	2024 Plan		2023 Plan		Prior Plan		Total
Balance at December 31, 2022	$	—	$	—	$	7,647	$	7,647
Amounts charged to expense - continuing operations	—		48,813		3,599		52,412
Amounts charged to expense - discontinued operations	—		9,173		—		9,173
Cash payments	—		(23,197)		(11,246)		(34,443)
Noncash activity	—		(8,661)		—		(8,661)
Balance at December 31, 2023	—		26,128		—		26,128
Amounts charged to expense - continuing operations	66,294		10,621		—		76,915
Amounts charged to expense - discontinued operations	7,265		—		—		7,265
Cash payments	(50,150)		(35,874)		—		(86,024)
Noncash activity	(245)		(875)		—		(1,120)
Balance at December 31, 2024	$	23,164	$	—	$	—	$	23,164

Components of restructuring expense in discontinued operations primarily include severance charges. Components of restructuring expense in continuing operations were as follows:

	Year Ended December 31, 2024
	2024 Plan		2023 Plan		Total
Severance	$	65,958	$	9,398	$	75,356
Facilities and other	336		1,223		1,559
Total	$	66,294	$	10,621	$	76,915

	Year Ended December 31, 2023
	2023 Plan		Prior Plan		Total
Severance	$	40,152	$	3,057	$	43,209
Facilities and other	8,661		542		9,203
Total	$	48,813	$	3,599	$	52,412

	Year Ended December 31, 2022
	Prior Plan
Severance	$	13,765
Facilities and other	3,443
Total	$	17,208