(11) Restructuring

In connection with strategic initiatives implemented during the fiscal years ended January 31, 2024 (Successor) and 2023 (Successor), and the periods ending January 31, 2022 (Successor) and  June 11, 2021 (Predecessor), the Company’s management approved and initiated plans to reduce its cost structure and better align operating expenses with existing economic conditions and the Company’s operating model. The Company recorded restructuring charges of $14.0 million (by segment was $5.6 million for Content & Platform and $8.3 million for Instructor-Led Training) during the fiscal year ended January 31, 2024 (Successor), $12.3 million (by segment was $7.1 million for Content & Platform and $5.2 million for Instructor-Led Training) during the fiscal year ended January 31, 2023 (Successor), $3.6 million (by segment was $1.8 million for Content & Platform and $1.8 million for Instructor-Led Training)during the period from June 12, 2021 through January 31, 2022 (Successor), and a credit of $0.6 million (for Content & Platform) during the period from February 1, 2021 through June 11, 2021 (Predecessor). These restructuring charges are presented separately in the accompanying Consolidated Statements of Operations and include primarily the severance costs of terminated employees and lease termination and lease impairment charges. As of January 31, 2024 and January 31, 2023, the Company had restructuring charge liabilities of $3.3 million and $2.7 million, respectively. Management has completed the majority of restructuring actions as of January 31, 2024; however, the Company will continue to evaluate its cost structure to align operating expenses with existing economic conditions and its operating model which could result in further restructuring actions.