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Restructuring
3 Months Ended
Mar. 31, 2020
Restructuring And Related Activities [Abstract]  
Restructuring

14. RESTRUCTURING

 

In October 2019, the Company approved a restructuring plan following a review of its operations, cost structure and growth opportunities (the “Restructuring”). The Restructuring included a reduction in headcount of approximately 160 employees across the Company. The Company recorded a charge of $13.4 million in the fourth quarter of 2019 as a result of the Restructuring, which consisted of one-time termination benefits for employee severance, benefits and related costs, all of which are expected to result in cash expenditures and substantially all of which will be paid out over the next 12 months. Restructuring activity during the three months ended March 31, 2020 was as follows:

 

(In thousands)

 

 

 

 

Balance, December 31, 2019

 

$

9,201

 

Amounts paid during the period:

 

 

 

 

Severance

 

 

(3,759

)

Outplacement services

 

 

(62

)

Benefits

 

 

(767

)

Balance, March 31, 2020

 

$

4,613

 

 

At March 31, 2020 and December 31, 2019, $4.6 million and $9.0 million of the restructuring accrual was included within “Accounts payable and accrued expenses”, respectively, and none and $0.2 million of the restructuring accrual was included within “Other long-term liabilities”, respectively, in the accompanying condensed consolidated balance sheets.