Restructuring Costs (Tables)

9 Months Ended

Sep. 28, 2024

Restructuring and Related Activities [Abstract]

Schedule of Restructuring and Related Costs

The following table provides a

summary of the Company’s restructuring costs during the during the three and nine months ended September 28, 2024:

	Three Months Ended	Nine Months Ended
	September 28, 2024	September 28, 2024
Cash restructuring costs:
Contract termination costs (1)	$300	$4,483
Severance and employee-related benefits	1,663	2,905
Professional fees and other	—	4,494
Total cash restructuring costs	1,963	11,882
Non-cash restructuring costs:
Asset impairments (2)	—	2,500
Total restructuring costs	$1,963	$14,382

____________________

(1) Primarily comprised of lease termination costs.

(2) Primarily comprised of impairments of property and equipment.

Since the initiation of cost reduction actions in the fourth quarter of 2023, the Company has recognized a cumulative

$30.1 million of restructuring costs, as follows (in thousands):

	Cumulative
	September 28, 2024
Cash restructuring costs:
Contract termination costs (1)	$11,893
Severance and employee-related benefits	7,871
Professional fees and other	5,604
Total cash restructuring costs	25,368
Non-cash restructuring costs:
Asset impairments (2)	4,742
Total restructuring costs	$30,110

____________________

(1)Primarily comprised of lease termination costs.

(2) Includes impairments of both lease right-of-use assets and property and equipment.

Schedule of Restructuring Reserve

The following table provides the activity in the Company’s restructuring related liabilities, which are included within

accounts payable, compensation and benefits and other current liabilities on the condensed consolidated balance sheet

(in thousands):

	Nine Months Ended
	September 28, 2024
Balance at the beginning of year	$8,720
Expenses	11,882
Cash payments	(19,282)
Balance at the end of the period	$1,320