Note 7 - Impairement Losses and Restructuring Cost

12 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Restructuring, Impairment, and Other Activities Disclosure [Text Block]

7. IMPAIRMENT LOSSES AND RESTRUCTURING COST

Impairment Losses

During 2019, our annual impairment testing resulted in goodwill impairment loss of $7,146 owing towards Argentina & South Africa geographies. During 2018, we closed one of our facilities in US and resulted in the recognition of an impairment loss of $483 related to the disposal of certain assets.

Restructuring Cost

The table below summarizes the balance of accrued restructuring and other merger related cost, which is included in other accrued liabilities in our consolidated balance sheets, and the changes during the year ended December 31, 2019:

	Employee related			Facilities related			Total
Balance as of December 31, 2018		760			2,268			3,028
Accruals/(reversals)		2,751			(70	)		2,681
Payments		(2,185	)		(1,684	)		(3,869	)
Balance as of December 31, 2019	$	1,326		$	514		$	1,840

Employee related

In 2018, in conjunction with the closing of the Aegis Transactions, we eliminated a number of positions which were considered redundant, under a company-wide restructuring plan. We recognized provision for employee related costs across a number of geographies and we expect to pay the remaining costs of $1,275 by the end of second quarter 2020.

In March 2019, the Company has closed one of its sites in Argentina. Upon closure, the Company eliminated a number of positions which were considered redundant and recognized provision for employee related costs and we expect to pay the remaining costs of $51 by the end of first quarter 2020.

Facilities related

In 2018, in conjunction with the closing of the Aegis Transactions, we terminated various leases in the United States and the Philippines. We recognized provision for the remaining costs associated with the leases. We expect to pay the remaining costs of $478 by the end of the first quarter of 2021.

Upon closure of site in Argentina, the Company recognized provision for facility related costs and we expect to pay the remaining costs of $36 by the end of the fourth quarter of 2020.