Company: ALGN
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001097149-25-000034
Chunk: 63

Company: ALIGN TECHNOLOGY INC
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 1
Chunk 63
---
,2024Long-lived assets 1:Switzerland$568,693 $571,628 U.S. 203,140 207,689 Other International606,193 605,193 Total long-lived assets$1,378,026 $1,384,510 1 Long-lived assets are attributed to countries based on the location of our entity that owns or leases the assets.

Note 15. Restructuring and Other Charges

2023 RestructuringDuring the fourth quarter of 2023, we incurred approximately $14.0 million in restructuring expenses, of which $5.3 million remained unpaid and were included in Accrued liabilities as of December 31, 2023. During the first quarter of 2024, we reduced our December 31, 2023 restructuring liability by approximately $3.9 million, primarily due to cash payments.2024 RestructuringDuring the fourth quarter of 2024, we initiated a restructuring plan to increase efficiencies across the organization which is expected to be completed in the second half of 2025. We incurred approximately $37.0 million in restructuring expenses, of which $13.0 million remained unpaid and were included in Accrued liabilities as of December 31, 2024. During the first quarter of 2025, we reduced our December 31, 2024 restructuring liability by approximately $11.0 million primarily due to cash payments, offset by approximately $2.1 million of additional restructuring expense recorded in Cost of net revenues.The 2023 and 2024 restructuring activities were primarily related to employee severance and other one-time post-employment benefits.

Activity related to the restructuring liabilities associated with our restructuring initiatives consist of the following (in thousands):Three Months EndedMarch 31,20252024Balance at beginning of period1$13,001 $5,299 Restructuring charges2,056 (152)Cash payments and adjustments(11,018)(3,752)Balance at end of period 1$4,039 $1,395 1    Included in “Accrued liabilities” within our Condensed Consolidated Balance Sheets.

23 

Item 2.        Management’s Discussion and Analysis of Financial Condition and Results of Operations.

Forward-Looking Statements

In addition to historical information, this Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E