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Supplemental Financial Information
 12 Months Ended
Dec. 31, 2021
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)202120202019
Restructuring charges
Manufacturing footprint optimization$3,115 $12,348 $— 
Facility consolidation— — 948 
Restructuring charges3,115 12,348 948 
Impairment charges
Fixed assets impairment charges455 587 1,537 
Other impairment charges— 52 — 
Impairment charges455 639 1,537 
Total restructuring and impairment charges$3,570 $12,987 $2,485 
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 AES operating segment, in order to achieve greater cost competitiveness as well as align capacity with end market demand. The majority of the restructuring activities were completed in the first half of 2021. We incurred restructuring charges and related expenses of $3.1 million and $12.3 million in 2021 and 2020. Severance and related benefits activity related to the manufacturing footprint optimization plan is presented in the table below for the year ended December 31, 2021:
(Dollars in thousands)Manufacturing Footprint Optimization Restructuring Severance and Related Benefits
Balance as of December 31, 2020$11,003 
Provisions182 
Payments(9,175)
Foreign currency translation adjustment(615)
Balance as of December 31, 2021
$1,395 
Impairment Charges
We recognized $0.5 million and $0.6 million of impairment charges in 2021 and 2020, respectively, primarily related to AES operating segment fixed assets in Belgium. We recognized $1.5 million of impairment charges in 2019 pertaining to our AES 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)202120202019
Advanced Electronics Solutions
Allocated restructuring charges$3,029 $11,947 $— 
Allocated impairment charges455 587 1,537 
Elastomeric Material Solutions
Allocated restructuring charges86 401 948 
Allocated impairment charges— 52 — 
Total restructuring and impairment charges$3,570 $12,987 $2,485 
Other Operating (Income) Expense, Net
The components of “Other operating (income) expense, net” were as follows:
Years Ended December 31,
(Dollars in thousands)202120202019
UTIS fire
Fixed assets write-offs$1,073 $— $— 
Inventory charges874 — — 
Professional services2,771 — — 
Lease obligations994 — — 
Lease impairments495 — — 
Compensation & benefits2,072 — — 
Third-party property claims4,650 — — 
Other155 — — 
Insurance recoveries(6,874)— — 
Total UTIS fire6,210 — — 
Lease income— — (989)
Depreciation on leased assets— — 1,907 
Loss (gain) on sale or disposal of property, plant and equipment(880)41 756 
Indemnity claim settlements from acquisitions— — (715)
Economic incentive grants— (145)— 
Total other operating (income) expense, net$5,330 $(104)$959 
In early February 2021, there was a fire at our UTIS manufacturing facility in Ansan, South Korea, which manufactures eSorba® polyurethane foams used in portable electronics and display applications. The site was safely evacuated and there were no reported injuries; however, there was extensive damage to the manufacturing site and some damage to nearby property. Operations in South Korea will be disrupted into the first half of 2023.
We recognized fixed asset write-offs and inventory charges of $1.1 million and $0.9 million, respectively, related to property destroyed in the fire in 2021. Additionally, we recognized a $4.7 million contingent liability pertaining to damage to nearby property and a $0.5 million contingent liability pertaining to our obligations for the fire damage to the building in connection with the underlying lease agreement. We have incurred $2.8 million of fees for various professional services in 2021 in connection with the assessment of the fire and the efforts to rebuild and resume operations. Further, we incurred $2.1 million of compensation and benefits in 2021 for UTIS manufacturing employees, subsequent to the fire. In connection with the UTIS fire, we have recognized anticipated insurance recoveries of $6.9 million in 2021 related to our ongoing insurance claim for property damage and compensation and benefits of hourly employees, less the applicable $0.3 million deductible.
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. In 2019, we recorded a gain of $0.7 million for the settlement of indemnity claims related to the Isola asset acquisition.
Interest Expense, Net
The components of “Interest expense, net” were as follows:
Years Ended December 31,
(Dollars in thousands)202120202019
Interest on revolving credit facility$892 $3,294 $7,378 
Interest rate swap settlements— 3,191 (200)
Line of credit fees1,066 715 576 
Debt issuance amortization costs715 593 552 
Interest on finance leases287 134 127 
Interest income(541)(939)(1,610)
Other117 147 46 
Total interest expense, net$2,536 $7,135 $6,869