Restructuring Charges

9 Months Ended

Sep. 30, 2021

Restructuring and Related Activities [Abstract]

Restructuring Charges

Note 12 – Restructuring Charges

The Company has undertaken initiatives to restructure its business operations to improve utilization and realize cost savings. These initiatives have included changing the number and location of production facilities, largely to align capacity and infrastructure with current and anticipated customer demand. This alignment includes transferring programs from higher cost geographies to lower cost geographies. The process of restructuring entails moving production between facilities, reducing staff levels, realigning our business processes, reorganizing our management and other activities.

The Company recognized restructuring charges during 2021 and 2020 primarily related to the closure of facilities in the Americas, capacity reduction and reductions in workforce in certain facilities across various regions.

The following table summarizes the 2021 activity in accrued restructuring, which is included in accrued liabilities in the condensed consolidated balance sheets, related to various restructuring activities initiated prior to September 30, 2021:

	Balance as of										Balance as of
	December 31,		Restructuring		Cash			Non-Cash			September 30,
(in thousands)	2020		Charges		Payment			Activity			2021
Restructuring:
Severance	$	3,996	$	994	$	(4,350	)	$	(184	)	$	456
Lease facility costs		50		1,994		(1,868	)		(160	)		16
Other exit costs		408		2,254		(2,074	)		(351	)		237
Total	$	4,454	$	5,242	$	(8,292	)	$	(695	)	$	709

In addition, during the nine months ended September 30, 2021, we incurred $4.4 million in costs related to asset impairments in the Americas. During the nine months ended September 30, 2020, we incurred $5.7 million and $1.0 million in costs related to asset impairments in the Americas and Asia, respectively.