Restructuring and Other Charges

6 Months Ended

Jun. 29, 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 six months ended June 29, 2019, Cadence revised certain estimates made in connection with its prior restructuring plans and recorded credits of approximately $1.0 million.

The following table presents activity relating to Cadence’s restructuring plans during the six months ended June 29, 2019:



	Severance and Benefits			Excess Facilities			Total
	(In thousands)
Balance, December 29, 2018	$	11,176		$	848		$	12,024
Restructuring and other charges (credits)	(1,036		)	34			(1,002		)
Cash payments	(9,614		)	(330		)	(9,944		)
Effect of foreign currency translation	35			10			45
Balance, June 29, 2019	$	561		$	562		$	1,123

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



	As of
	June 29, 2019
	(In thousands)
Accounts payable and accrued liabilities	$	891
Other long-term liabilities	232
Total restructuring liabilities	$	1,123

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 June 29, 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.