XML 28 R15.htm IDEA: XBRL DOCUMENT v3.8.0.1
Restructuring and Other Charges
 3 Months Ended
Mar. 31, 2018
Restructuring and Related Activities [Abstract]  
RESTRUCTURING AND OTHER CHARGES
RESTRUCTURING AND OTHER CHARGES
Cadence has initiated restructuring plans 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 three months ended March 31, 2018, Cadence revised certain estimates made in connection with its prior restructuring plans and recorded credits of approximately $2.0 million. As of March 31, 2018, total liabilities related to prior restructuring plans were $4.8 million. Cadence expects to make cash payments for severance and related benefits for the prior restructuring plans through the first quarter of fiscal 2019.
The following table presents activity relating to Cadence’s restructuring plans during the three months ended March 31, 2018:
 
Severance
and
Benefits
 
Excess
Facilities
 
Total
 
(In thousands)
Balance, December 30, 2017
$
13,535

 
$
249

 
$
13,784

Restructuring and other credits
(1,948
)
 
(43
)
 
(1,991
)
Cash payments
(6,813
)
 
(206
)
 
(7,019
)
Effect of foreign currency translation
(10
)
 
—

 
(10
)
Balance, March 31, 2018
$
4,764

 
$
—

 
$
4,764


The remaining liability for Cadence’s restructuring plans is recorded in accounts payable and accrued liabilities in the condensed consolidated balance sheet.