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Restructuring Charges | 12 Months Ended
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Dec. 31, 2023
Restructuring and Related Activities [Abstract] |
Restructuring Charges | Restructuring Charges In December 2022, following its acquisition of SAC Sirius Advanced Cybernetics GmbH (refer to Note 21), the Company completed restructuring activities to align the cost and operating structure of the acquired business with the Company's business strategy. The restructuring activities included a workforce reduction of 18 employees and the termination of certain operating lease contracts, and resulted in charges of $1,657,000 in 2022. These charges are included in “Restructuring charges” on the Consolidated Statements of Operations. The following table summarizes the restructuring charges for the year ended December 31, 2022 (in thousands):
|  |  | Amount |  |
One-time termination benefits |  |  | $ | 1,584 |  |  |
Contract termination costs |  |  | 73 |  |  |
|  |  | $ | 1,657 |  |  |
The following table summarizes the activity in the Company’s restructuring reserve, which is included in “Accrued expenses” on the Consolidated Balance Sheets (in thousands):
| One-time Termination Benefits |  | Contract Termination Costs |  |  |  | Total
Balance as of December 31, 2021 | $ | — |  |  | $ | — |  |  |  |  | $ | — |
Restructuring charges | 1,584 |  |  | 73 |  |  |  |  | 1,657 |
Cash payments | (646) |  |  | — |  |  |  |  | (646) |
Foreign exchange rate changes | 26 |  |  | 2 |  |  |  |  | 28 |
Balance as of December 31, 2022 | 964 |  |  | 75 |  |  |  |  | 1,039 |
Cash payments | (973) |  |  | (75) |  |  |  |  | (1,048) |
Foreign exchange rate changes | 9 |  |  | — |  |  |  |  | 9 |
Balance as of December 31, 2023 | $ | — |  |  | $ | — |  |  |  |  | $ | — |

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- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482017/420-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482017/420-10-50-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//420/tableOfContent Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482017/420-10-50-1 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4(e)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479823/420-10-S99-2 + Details
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