Restructuring and Related Activities

6 Months Ended

Jul. 03, 2021

Restructuring and Related Activities [Abstract]

Restructuring and Related Activities

Note 3 – Restructuring and Related Activities

In 2019, the Company announced global cost reduction and management rejuvenation programs as part of its continuous efforts to improve efficiency and operating performance.  The programs were primarily designed to reduce manufacturing fixed costs and selling, general, and administrative costs company-wide, and provide management rejuvenation.  These programs are fully implemented.  The Company incurred total charges of $24,882, primarily related to cash severance costs, to implement these programs.

The following table summarizes the activity to date related to this program:

Expense recorded in 2019	$	24,139
Cash paid		(1,330	)
Foreign currency translation		35
Balance at December 31, 2019	$	22,844
Expense recorded in 2020		743
Cash paid		(10,813	)
Foreign currency translation		683
Balance at December 31, 2020	$	13,457
Cash paid		(9,962	)
Foreign currency translation		(19	)
Balance at July 3, 2021	$	3,476

The payment terms vary by country, but generally are paid in a lump sum at cessation of employment.  Some payments are made over an extended period.  The current portion of the liability is $2,326 and is included in other accrued expenses on the consolidated condensed balance sheet.  The non-current portion of the liability is $1,150 and is included in other liabilities on the consolidated condensed balance sheet.