Restructuring and Other Charges

9 Months Ended

Sep. 30, 2017

Restructuring and Related Activities [Abstract]

Cadence has initiated various restructuring plans, most recently in fiscal 2016, in an effort to better align its resources with its business strategy. These restructuring plans have primarily been comprised of severance payments and termination benefits related to headcount reductions, estimated lease losses related to facilities vacated under the restructuring plans and charges related to assets abandoned as part of the restructuring plans. During the nine months ended September 30, 2017, Cadence revised certain estimates made in connection with its 2016 restructuring plans and recorded credits of approximately $2.8 million. As of September 30, 2017, total liabilities related to the 2016 restructuring plans were $3.6 million. Cadence expects to make cash payments for severance and related benefits for the 2016 restructuring plans through the first quarter of fiscal 2019.

The following table presents activity relating to Cadence’s restructuring plans during the nine months ended September 30, 2017:



	Severance and Benefits			Excess Facilities			Total
	(In thousands)
Balance, December 31, 2016	$	24,402		$	58		$	24,460
Restructuring and other charges (credits):
2016 Restructuring Plans	(2,905		)	79			(2,826		)
Prior restructuring plans	2			52			54
Cash payments	(18,111		)	(162		)	(18,273		)
Effect of foreign currency translation	242			(3		)	239
Balance, September 30, 2017	$	3,630		$	24		$	3,654

The remaining liability for Cadence’s restructuring plans is recorded in the condensed consolidated balance sheet as follows:



	As of
	September 30, 2017
	(In thousands)
Accounts payable and accrued liabilities	$	3,457
Other long-term liabilities	197
Total liabilities	$	3,654