Restructuring, Integration, and Other Charges

12 Months Ended

Dec. 31, 2023

Restructuring, Integration, and Other Charges

Restructuring, Integration, and Other Charges

9. Restructuring, Integration, and Other Charges

Restructuring initiatives and integration costs are due to the company’s continued efforts to lower costs, drive operational efficiency, integrate acquired businesses, and the consolidation of certain operations, as necessary. The following table presents the components of the restructuring, integration, and other charges for the years ended December 31:

(thousands)	2023		2022		2021
Restructuring and integration charges	$	8,877	$	6,994	$	16,673
Other charges (credits)		75,039		6,747		(1,280)
	$	83,916	$	13,741	$	15,393

Restructuring and Integration Accruals

The following table presents the activity in the restructuring and integration accruals for the year ended December 31, 2023:

(thousands)	Total
Balance at December 31, 2022	$	6,929
Restructuring and integration charges		8,877
Payments		(9,371)
Foreign currency translation		(548)
Balance at December 31, 2023	$	5,887

Substantially all amounts accrued at December 31, 2023, and all restructuring and integration charges for the year ending December 31, 2023 relate to the termination of personnel and are expected to be spent in cash within one year.

Other Charges (Credits)

Other charges for 2023 include $29.4 million related to early lease terminations, $23.3 million related to an increase in environmental liabilities (see Note 15) and personnel charges of $19.1 million related to operating expense reduction initiatives.