Company: BL
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001666134-25-000003
Chunk: 156

Company: BLACKLINE, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 156
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 ended December 31, 2024 and 2023, the Company recorded $1.7 million and $9.8 million, respectively, primarily for severance and other termination benefits, which occurred in the U.S. and various international locations. The charges were recorded as one-time termination benefits pursuant to ASC 420, Exit or Disposal Cost Obligations. The Company does not anticipate incurring additional expenses.Fiscal 2022 Restructuring ProgramOn December 7, 2022, the Company announced its intention to reduce its global workforce by approximately 5%, or approximately 95 total positions. The actions were primarily in response to cost reduction initiatives to focus on key growth priorities. The actions were substantially completed in the fourth quarter of fiscal year 2022 subject to local law and consultation requirements. During the years ended December 31, 2024, 2023, and 2022 the Company recorded zero, $1.1 million, and $3.8 million, respectively, primarily for severance and other termination benefits, which occurred in the U.S. and various international locations. The charges were recorded as one-time termination benefits pursuant to ASC 420. The Company does not anticipate incurring additional expenses.

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The liability for the fiscal 2023 and 2022 restructuring programs was included in accrued expenses and other current liabilities in the consolidated balance sheet, and the following tables summarize the related activity for the respective plans for the years ended December 31, 2024 and 2023 (in thousands):Year Ended December 31, 2024Restructuring ProgramFiscal 2023Fiscal 2022Total Accrual balance as of December 31, 2023$1,562 $7 $1,569 Restructuring charges1,720 — 1,720 Cash payments and adjustments(3,282)(7)(3,289)Accrual balance as of December 31, 2024$— $— $— Year Ended December 31, 2023Restructuring ProgramFiscal 2023Fiscal 2022Total Accrual balance as of December 31, 2022$— $1,737 $1,737 Restructuring charges9,815 1,149 10,964 Cash payments and adjustments(8,253)(2,879)(11,132)Accrual balance as of December 31, 202