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Restructuring and Related Activities
12 Months Ended
Dec. 31, 2020
Restructuring And Related Activities [Abstract]  
Restructuring And Related Activities Disclosure [Text Block]
Note 7 – Restructuring and Related Activities
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
 
in the third quarter of 2019.
 
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 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 Consolidated Statements of
 
Income.
 
As described in Note 4 of Notes to
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 years ended
 
December 31, 2020 and 2019 is as
follows:
QH Program
Accrued restructuring as of December 31, 2018
$
-
Restructuring and related charges
26,678
Cash payments
(8,899)
Currency translation adjustments
264
Accrued restructuring as of December 31, 2019
18,043
Restructuring and related charges
5,541
Cash payments
(15,745)
Currency translation adjustments
409
Accrued restructuring as of December 31, 2020
$
8,248
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 fourth quarter of 2020, certain of these facilities were
 
sold and the Company
recognized a loss on disposal of approximately $
0.6
 
million included within other expense, net on the Consolidated
 
Statement of
Income.
 
Additionally, certain
 
buildings and land with an aggregate book value of
 
approximately $
10.0
 
million continues to be held-
for-sale as of December 31, 2020 and are
 
recorded in other current assets on the Company’s
 
Consolidated Balance Sheet.