TransUnion

11. Restructuring

On November 12, 2023, our Board of Directors (“Board”) approved a transformation plan to optimize our operating model and continue to advance our technology. The transformation plan includes an operating model optimization program that will reduce our global workforce, transition certain job responsibilities to global capability centers, and reduce our facility footprint. The Company expects to record pre-tax expenses associated with the operating model optimization program of approximately $155.0 million from the fourth quarter of 2023 through the end of 2025, with the majority of expenses to be incurred by the end of 2024.

In total, we anticipate that the pre-tax expenses related to the restructuring component of the plan will consist of approximately $110.0 million of employee separation expenses and $45.0 million of facility exit expenses, of which a total of $75.3 million has been recorded to date.

The following table summarizes the expenses recorded to date.

1. Consists of impairments of lease right-of-use (“ROU”) assets.

The following table summarizes the changes in the accrued restructuring reserve during the period, which is included in other current liabilities on the Consolidated Balance Sheets.

All restructuring expenses have been recorded in the Corporate unit, as these initiatives are predominantly centrally directed and controlled and are not included in internal measures of segment operating performance.