XML 32 R21.htm IDEA: XBRL DOCUMENT
v3.24.1.u1

RESTRUCTURING AND ASSET IMPAIRMENTS | 3 Months Ended
--- | ---
Mar. 30, 2024
Restructuring and Related Activities [Abstract] |
RESTRUCTURING AND ASSET IMPAIRMENTS | RESTRUCTURING AND ASSET IMPAIRMENTS The Company has undertaken restructuring actions impacting the reportable segments at various locations across North America, Europe and Asia. This includes workforce right-sizing actions resulting in severance and transition costs; and costs related to the consolidation of facilities resulting in asset impairment and accelerated depreciation charges. The following table presents restructuring costs by reportable segment:
|  |  | Three Months Ended
|  |  |  |  | March 30, 2024 |  | April 1, 2023
|  |  |  |  | (in thousands)
RMS |  |  |  |  | $ | 7,387 |  |  | $ | — |
DSA |  |  |  |  | 6,491 |  |  | (2) |
Manufacturing |  |  |  |  | 1,631 |  |  | 3,488 |
Unallocated corporate |  |  |  |  | 1,490 |  |  | — |
Total |  |  |  |  | $ | 16,999 |  |  | $ | 3,486 |
The following table presents restructuring costs as included within the Company’s unaudited condensed consolidated statements of income:
| March 30, 2024 |  | April 1, 2023
| Severance and Transition Costs |  | Asset Impairments and Other Costs |  | Total |  | Severance and Transition Costs |  | Asset Impairments and Other Costs |  | Total
| (in thousands)
Three Months Ended |  |  |  |  |  |  |  |  |  |  |
Cost of services provided (excluding amortization of intangible assets) | $ | 4,810 |  |  | $ | 1,108 |  |  | $ | 5,918 |  |  | $ | 567 |  |  | $ | — |  |  | $ | 567 |
Cost of products sold (excluding amortization of intangible assets) | 678 |  |  | 1,330 |  |  | 2,008 |  |  | 18 |  |  | 2,564 |  |  | 2,582 |
Selling, general and administrative | 3,549 |  |  | 5,524 |  |  | 9,073 |  |  | 329 |  |  | 8 |  |  | 337 |
Total restructuring costs | $ | 9,037 |  |  | $ | 7,962 |  |  | $ | 16,999 |  |  | $ | 914 |  |  | $ | 2,572 |  |  | $ | 3,486 |
Rollforward of Restructuring Activities The following table provides a rollforward for all of the Company’s severance and transition costs related to all restructuring activities:
| Three Months Ended
| March 30, 2024 |  | April 1, 2023
| (in thousands)
Beginning balance | $ | 5,050 |  |  | $ | 1,300 |
Expense (excluding non-cash charges) | 9,037 |  |  | 914 |
Payments / utilization | (3,235) |  |  | (331) |
Foreign currency adjustments | (40) |  |  | 6 |
Ending balance | $ | 10,812 |  |  | $ | 1,889 |
As of March 30, 2024 and December 30, 2023, $10.8 million and $5.1 million, respectively, of severance and other personnel related costs liabilities were included in accrued compensation and accrued liabilities within the Company’s unaudited condensed consolidated balance sheets.

X
- References No definition available. + Details
Name: | us-gaap_RestructuringAndRelatedActivitiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure of costs incurred for restructuring including, but not limited to, exit and disposal activities, remediation, implementation, integration, asset impairment, and charges against earnings from the write-down of assets. + References No definition available. + Details
Name: | us-gaap_RestructuringImpairmentAndOtherActivitiesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration