Restructuring and Related Activities

9 Months Ended

Sep. 30, 2022

Restructuring And Related Activities [Abstract]

Restructuring And Related Activities [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 included restructuring and associated

severance costs to reduce total headcount by approximately 400 people globally, as well as the closure of certain manufacturing and

non-manufacturing facilities. The exact timing to complete all actions and final costs associated with the QH Program depend on a

number of factors and are subject to change; however, the Company had reduction in headcount and site closures under the QH

Program in 2022 and expects final headcount reductions to continue into 2023. Employee separation benefits varied depending on

local regulations within certain foreign countries and included severance and other benefits.

All costs incurred related 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 are recorded in Restructuring and related (credits) charges in

the Company’s Condensed Consolidated Statements of Income. The credits recognized in the nine months ended September 30, 2022

reflect customary and routine adjustments to initial estimates for employee separation costs. At this time, the Company does not

expect to incur material additional costs under the QH Program. As described in Note 4 of the 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, 2022 is as

follows:

QH Program

Accrued restructuring as of December 31, 2021

$

4,087

Restructuring and related (credits)

(604)

Cash payments

(1,234)

Currency translation adjustments

(451)

Accrued restructuring as of September 30, 2022

$

1,798