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Restructuring and Other Related Charges
 9 Months Ended
Sep. 30, 2024
Restructuring and Related Activities [Abstract]  
Restructuring and Other Related Charges Restructuring and Other Related Charges
Restructuring and other related charges were $3.5 million for the three months ended September 30, 2024, consisting primarily of severance and employee-related costs, and $6.4 million for the nine months ended September 30, 2024, consisting primarily of severance and employee-related costs, as well as content impairments in connection with WE tv shifting to a reduced originals strategy.
Restructuring and other related charges were $10.6 million and $22.5 million for the three and nine months ended September 30, 2023, respectively, related to a restructuring plan (the "Plan") that commenced on November 28, 2022. During the third quarter of 2023, the Company exited a portion of its office space in its corporate headquarters in New York and all of its office space in Silver Spring, Maryland and Woodland Hills, California. In connection with exiting a portion of the New York office, the Company recorded impairment charges of $11.6 million, consisting of $9.1 million for operating lease right-of use assets and $2.5 million for leasehold improvements. Fair values used to determine the impairment charge were determined using an income approach, specifically a discounted cash flow ("DCF") model. The DCF model includes significant assumptions about sublease income and enterprise specific discount rates. Given the uncertainty in determining assumptions underlying the DCF approach, actual results may differ from those used in the valuations. The remaining charges for the nine months ended September 30, 2023 consisted primarily of severance and other personnel costs in connection with the Plan.
The following table summarizes the restructuring and other related charges recognized by operating segment:
(In thousands)Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
Domestic Operations$3,454 $(783)$6,385 $3,940 
International— (4)— 1,642 
Corporate / Inter-segment eliminations42 11,350 42 16,955 
Total restructuring and other related charges$3,496 $10,563 $6,427 $22,537 

The following table summarizes the accrued restructuring and other related costs:
(In thousands)Severance and Employee-Related CostsContent Impairments and Other Exit CostsTotal
Balance at December 31, 2023$8,726 $5,008 $13,734 
Charges5,370 1,057 6,427 
Cash payments(7,725)(2,626)(10,351)
Non-cash adjustments— (1,641)(1,641)
Other(902)(103)(1,005)
Balance at September 30, 2024$5,469 $1,695 $7,164 
Accrued restructuring and other related costs of $7.2 million are included in Accrued liabilities in the condensed consolidated balance sheet at September 30, 2024. Accrued restructuring and other related costs of $12.1 million and $1.6 million are included in Accrued liabilities and Other liabilities, respectively, in the condensed consolidated balance sheet at December 31, 2023.