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Restructuring and Other Transformation Charges
 12 Months Ended
Dec. 31, 2023
Restructuring and Related Activities [Abstract]  
Restructuring and Other Transformation Charges RESTRUCTURING AND OTHER TRANSFORMATION
PROJECT MATTERHORN
In September 2022, we announced Project Matterhorn. Project Matterhorn investments focus on transforming our operating model to a global operating model. Project Matterhorn focuses on the formation of a solution-based sales approach that is designed to allow us to optimize our shared services and best practices to better serve our customers' needs. We are investing to accelerate growth and to capture a greater share of the large, global addressable markets in which we operate. We expect to incur approximately $150,000 in costs annually related to Project Matterhorn from 2023 through 2025. Costs are comprised of (1) restructuring costs, which include (i) site consolidation and other related exit costs, (ii) employee severance costs and (iii) certain professional fees associated with these activities and (2) other transformation costs, which include professional fees such as project management costs and costs for third party consultants who are assisting in the enablement our growth initiatives.
Restructuring and other transformation related to Project Matterhorn included in the accompanying Consolidated Statements of Operations for the years ended December 31, 2023 and 2022 and from the inception of Project Matterhorn through December 31, 2023 is as follows:
YEAR ENDED
DECEMBER 31, 2023
YEAR ENDED
DECEMBER 31, 2022
FROM INCEPTION
THROUGH DECEMBER 31, 2023
Restructuring$57,319 $13,292 $70,611 
Other transformation117,896 28,641 146,537 
Restructuring and other transformation
$175,215 $41,933 $217,148 
There were no Restructuring and other transformation costs related to Project Matterhorn for the year ended December 31, 2021.
Restructuring costs for Project Matterhorn, included as a component of Restructuring and other transformation in the accompanying Consolidated Statements of Operations, by segment, for the years ended December 31, 2023 and 2022 and from the inception of Project Matterhorn through December 31, 2023 are as follows:
YEAR ENDED
DECEMBER 31, 2023
YEAR ENDED
DECEMBER 31, 2022
FROM INCEPTION
THROUGH DECEMBER 31, 2023
Global RIM Business$46,722 $13,083 $59,805 
Global Data Center Business520 — 520 
Corporate and Other10,077 209 10,286 
Total restructuring costs$57,319 $13,292 $70,611 
Other transformation costs for Project Matterhorn, included as a component of Restructuring and other transformation in the accompanying Consolidated Statements of Operations, by segment, for the years ended December 31, 2023 and 2022 and from the inception of Project Matterhorn through December 31, 2023 are as follows:
YEAR ENDED
DECEMBER 31, 2023
YEAR ENDED
DECEMBER 31, 2022
FROM INCEPTION
THROUGH DECEMBER 31, 2023
Global RIM Business$28,369 $3,901 $32,270 
Global Data Center Business4,964 58 5,022 
Corporate and Other84,563 24,682 109,245 
Total other transformation costs$117,896 $28,641 $146,537 
A rollforward of the accrued restructuring costs and accrued other transformation costs, which are included as components of Accrued expenses and other current liabilities in our Consolidated Balance Sheets for December 31, 2022 through December 31, 2023 is as follows:
RESTRUCTURINGOTHER TRANSFORMATIONTOTAL RESTRUCTURING AND OTHER TRANSFORMATION
Balance as of December 31, 2022$1,058 $7,029 $8,087 
Amounts accrued57,319 117,895 175,214 
Payments(47,646)(100,070)(147,716)
Balance as of December 31, 2023$10,731 $24,854 $35,585 
PROJECT SUMMIT
In October 2019, we announced Project Summit, our global program designed to better position us for future growth and achievement of our strategic objectives. We expanded Project Summit during the first quarter of 2020 to include additional opportunities to streamline our business and operations, as well as accelerated the timing of certain opportunities previously identified. As of December 31, 2021, we completed Project Summit.
The implementation of Project Summit resulted in total restructuring costs of approximately $450,000 that primarily consisted of: (i) employee severance costs, (ii) internal costs associated with the development and implementation of Project Summit initiatives, (iii) professional fees, primarily related to third party consultants who assisted with the design and execution of various initiatives as well as project management activities and (iv) system implementation and data conversion costs.
Restructuring costs for Project Summit, included as a component of Restructuring and other transformation in the accompanying Consolidated Statement of Operations, for the year ended December 31, 2021 and from the inception of Project Summit through December 31, 2021, are as follows:
YEAR ENDED DECEMBER 31, 2021FROM INCEPTION OF PROJECT SUMMIT THROUGH
DECEMBER 31, 2021
Employee severance$22,809 $91,008 
Professional fees and other183,617 358,411 
Total restructuring costs
$206,426 $449,419 
As Project Summit was completed as of December 31, 2021, there were no restructuring costs for Project Summit for the years ended December 31, 2023 and 2022.
Restructuring costs for Project Summit included in the accompanying Consolidated Statement of Operations by segment for the year ended December 31, 2021 and from the inception of Project Summit through December 31, 2021 are as follows:
YEAR ENDED DECEMBER 31, 2021FROM INCEPTION OF PROJECT SUMMIT THROUGH
DECEMBER 31, 2021
Global RIM Business $59,033 $148,073 
Global Data Center Business3,062 5,000 
Corporate and Other144,331 296,346 
Total restructuring costs
$206,426 $449,419