Restructuring and Related Activities

9 Months Ended

Sep. 30, 2020

Restructuring And Related Activities [Abstract]

Restructuring And Related Activities Disclosure [TextBlock]

Note 7 – Restructuring and Related Activities

As previously disclosed in its 2019 Form 10-K, in the third quarter of 2019, the Company’s management approved a global

restructuring plan (the “QH Program”) as part of its plan to realize certain cost synergies associated with the Combination. The QH

Program includes restructuring and associated severance costs to reduce total headcount by approximately 350 people globally, as well

as plans for the closure of certain manufacturing and non-manufacturing facilities. The exact timing and total costs associated with

the QH Program will depend on a number of factors and is subject to change; however, the Company currently expects reduction in

headcount and site closures to continue to occur during 2020 and into 2021 under the QH Program and estimates that anticipated cost

synergies realized from the QH Program will approximate one-times the restructuring costs incurred. Employee separation benefits

will vary depending on local regulations within certain foreign countries and will include severance and other benefits.

All costs incurred to date relate to severance costs to reduce headcount as well as costs to close certain facilities and are recorded

in restructuring and related charges in the Company’s Condensed Statements of Operations. As described in Note 4 of Notes to

Condensed Consolidated Financial Statements, restructuring and related charges are not included in the Company’s calculation of

reportable segments’ measure of operating earnings and therefore these costs are not reviewed by or recorded to reportable segments.

Activity in the Company’s accrual for restructuring under the QH Program for the nine months ended September 30, 2020 is as

follows:

QH Program

Accrued restructuring as of December 31, 2019

$

18,043

Restructuring and related charges

3,585

Cash payments

(12,772)

Currency translation adjustments

37

Accrued restructuring as of September 30, 2020

$

8,893

In connection with the plans for closure of certain manufacturing and non-manufacturing facilities, the Company made a decision

to make available for sale certain facilities during the second quarter of 2020. As a result, certain buildings and land with an aggregate

book value of approximately $

12.8

 million have been reclassified to other current assets from property, plant and equipment as of

September 30, 2020.