Restructuring and Related Activities

3 Months Ended

Mar. 31, 2022

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 400 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 are subject to change; however, the Company currently expects reductions in headcount and site closures to

continue to occur throughout 2022 under the QH Program. 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, including customary and routine adjustments to initial

estimates for employee separation costs, as well as costs to close certain facilities and are recorded in Restructuring and related

charges in the Company’s Condensed Consolidated Statements of Income. 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 three months ended March 31, 2022 is as

follows:

QH Program

Accrued restructuring as of December 31, 2021

$

4,087

Restructuring and related charges

820

Cash payments

(408)

Currency translation adjustments

(64)

Accrued restructuring as of March 31, 2022

$

4,435