Restructuring and Other Charges

3 Months Ended

Mar. 30, 2019

Restructuring and Related Activities [Abstract]

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 30, 2019, Cadence revised certain estimates made in connection with its prior restructuring plans and recorded credits of approximately $0.7 million.

The following table presents activity relating to Cadence’s restructuring plans during the three months ended March 30, 2019:



	Severance and Benefits			Excess Facilities			Total
	(In thousands)
Balance, December 29, 2018	$	11,176		$	848		$	12,024
Restructuring and other charges (credits)	(687		)	(2		)	(689		)
Cash payments	(7,986		)	(262		)	(8,248		)
Effect of foreign currency translation	34			7			41
Balance, March 30, 2019	$	2,537		$	591		$	3,128

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



	As of
	March 30, 2019
	(In thousands)
Accounts payable and accrued liabilities	$	2,888
Other long-term liabilities	240
Total restructuring liabilities	$	3,128

All liabilities for severance and related benefits under Cadence’s restructuring plans are included in accounts payable and accrued liabilities on Cadence’s condensed consolidated balance sheet as of March 30, 2019. Restructuring liabilities included in other long-term liabilities represent liabilities from vacated facilities, and Cadence expects to make cash payments to settle these liabilities through fiscal 2022.