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Supplemental Financial Information
 12 Months Ended
Dec. 31, 2020
Supplemental Income Statement Elements [Abstract]  
Supplemental Financial Information Supplemental Financial Information
Restructuring and Impairment Charges
The components of “Restructuring and impairment charges” line item in the condensed consolidated statements of operations, were as follows:
Years Ended December 31,
(Dollars in thousands)202020192018
Restructuring charges
Manufacturing footprint optimization$12,348 $— $— 
Facility consolidation— 948 1,982 
Global headquarters relocation— — 550 
Restructuring charges12,348 948 2,532 
Impairment charges
Fixed assets impairment charges587 1,537 1,506 
Other impairment charges52 — — 
Impairment charges639 1,537 1,506 
Total restructuring and impairment charges$12,987 $2,485 $4,038 
Restructuring Charges - Manufacturing Footprint Optimization
During the third quarter of 2020, we commenced manufacturing footprint optimization plans involving certain Europe and Asia manufacturing locations, primarily impacting our PES and ACS operating segments, in order to achieve greater cost competitiveness as well as align capacity with end market demand. We expect the majority of the restructuring activities to be completed by the end of the first half of 2021. Severance and related benefits activity related to the manufacturing footprint optimization plan is presented in the table below for the year ended December 31, 2020:
(Dollars in thousands)Manufacturing Footprint Optimization Restructuring Severance and Related Benefits
Balance as of December 31, 2019$— 
Provisions11,451 
Payments(819)
Foreign currency translation adjustment371 
Balance as of December 31, 2020
$11,003 
Restructuring Charges - Facility Consolidation & Global Headquarters Relocation
In 2018, we made the decision to consolidate our Santa Fe Springs, California operations into our facilities in Carol Stream, Illinois and Bear, Delaware. We recorded $0.9 million and $2.0 million of restructuring charges in 2019 and 2018, respectively, related to the facility consolidation. In 2017, we relocated our global headquarters from Rogers, Connecticut to Chandler, Arizona. We recorded $0.6 million of restructuring charges in 2018 related to the headquarters relocation.
Impairment Charges
We recognized $0.6 million of impairment charges in 2020, primarily related to fixed assets in Belgium pertaining to our ACS operating segment and a building lease in Hungary pertaining to our PES operating segment. We recognized $1.5 million of impairment charges in both 2019 and 2018 pertaining to our ACS operating segment, primarily on certain assets in connection with the Isola USA Corp. (Isola) asset acquisition.
Allocation of Restructuring and Impairment Charges to Operating Segments
The following table summarizes the allocation of restructuring and impairment charges to our operating segments:
Years Ended December 31,
(Dollars in thousands)202020192018
Advanced Connectivity Solutions
Allocated restructuring charges$4,288 $— $244 
Allocated impairment charges335 1,537 1,506 
Elastomeric Material Solutions
Allocated restructuring charges401 948 2,152 
Allocated impairment charges52 — — 
Power Electronics Solutions
Allocated restructuring charges7,659 — 136 
Allocated impairment charges252 — — 
Total restructuring and impairment charges$12,987 $2,485 $4,038 
Other Operating (Income) Expense, Net
The components of “Other operating (income) expense, net” were as follows:
Years Ended December 31,
(Dollars in thousands)202020192018
Lease income$— $(989)$(948)
Depreciation on leased assets— 1,907 3,512 
Loss (gain) on sale or disposal of property, plant and equipment41 756 (164)
Gain from antitrust litigation settlement— — (4,231)
Indemnity claim settlements from acquisitions— (715)(700)
Economic incentive grants(145)— (556)
Total other operating (income) expense, net$(104)$959 $(3,087)
In connection with the transitional leaseback of a portion of the facility and certain machinery and equipment acquired from Isola in August 2018, we recognized lease income and related depreciation on leased assets of $1.0 million and $1.9 million, respectively, in 2019, and $0.9 million and $3.5 million, respectively, in 2018. In 2019, we recorded a gain of $0.7 million for the settlement of indemnity claims related to the Isola asset acquisition.
In 2018, we recorded a gain from the settlement of antitrust litigation in the amount of $4.2 million as a result of the settlement of a class action lawsuit, filed in 2005, which alleged that Dow Chemical Company and other urethane raw material suppliers unlawfully agreed to fix, raise, maintain or stabilize the prices of polyether polyol products sold in the U.S. from January 1, 1999 through December 31, 2004 in violation of the federal antitrust laws. We also recorded a gain of $0.7 million for the settlement of indemnity claims related to the DSP acquisition and income of $0.6 million from economic incentive grants related to the relocation of our global headquarters from Rogers, Connecticut to Chandler, Arizona.
Interest Expense, Net
The components of “Interest expense, net” were as follows:
Years Ended December 31,
(Dollars in thousands)202020192018
Interest on revolving credit facility$3,294 $7,378 $6,304 
Interest rate swap settlements3,191 (200)(247)
Line of credit fees715 576 573 
Debt issuance amortization costs593 552 552 
Interest on finance leases134 127 172 
Interest income(939)(1,610)(804)
Other147 46 79 
Total interest expense, net$7,135 $6,869 $6,629