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Restructuring, Impairment, and Other Charges | 9 Months Ended
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Sep. 30, 2023
Restructuring and Related Activities [Abstract] |
Restructuring, Impairment, and Other Charges | Restructuring, Impairment, and Other Charges The Company recorded restructuring, impairment, and other charges for the three and nine months ended September 30, 2023 and October 1, 2022 as follows:
| Three months ended September 30, 2023 |  | Nine months ended September 30, 2023
(in thousands) | Electronics |  | Transportation |  | Industrial |  | Total |  | Electronics |  | Transportation |  | Industrial |  | Total
Employee terminations | $ | 1,174 |  |  | $ | 1,665 |  |  | $ | 293 |  |  | $ | 3,132 |  |  | $ | 2,833 |  |  | $ | 2,598 |  |  | $ | 887 |  |  | $ | 6,318 |
Other restructuring charges | 64 |  |  | 138 |  |  | 364 |  |  | 566 |  |  | 321 |  |  | 822 |  |  | 1,018 |  |  | 2,161 |
Total restructuring charges | 1,238 |  |  | 1,803 |  |  | 657 |  |  | 3,698 |  |  | 3,154 |  |  | 3,420 |  |  | 1,905 |  |  | 8,479 |
Impairment | — |  |  | — |  |  | 818 |  |  | 818 |  |  | — |  |  | 3,870 |  |  | 872 |  |  | 4,742 |
Total | $ | 1,238 |  |  | $ | 1,803 |  |  | $ | 1,475 |  |  | $ | 4,516 |  |  | $ | 3,154 |  |  | $ | 7,290 |  |  | $ | 2,777 |  |  | $ | 13,221 |
| Three months ended October 1, 2022 |  | Nine months ended October 1, 2022
(in thousands) | Electronics |  | Transportation |  | Industrial |  | Total |  | Electronics |  | Transportation |  | Industrial |  | Total
Employee terminations | $ | 1,401 |  |  | $ | 1,574 |  |  | $ | — |  |  | $ | 2,975 |  |  | $ | 1,807 |  |  | $ | 1,997 |  |  | $ | — |  |  | $ | 3,804 |
Other restructuring charges | 73 |  |  | 365 |  |  | — |  |  | 438 |  |  | 76 |  |  | 385 |  |  | — |  |  | 461 |
Total | $ | 1,474 |  |  | $ | 1,939 |  |  | $ | — |  |  | $ | 3,413 |  |  | $ | 1,883 |  |  | $ | 2,382 |  |  | $ | — |  |  | $ | 4,265 |
2023 For the three and nine months ended September 30, 2023, the Company recorded total restructuring charges of $3.7 million and $8.5 million, respectively, primarily for employee termination costs. These charges primarily related to the reorganization of certain manufacturing, selling and administrative functions within the Transportation segment’s commercial vehicle business, and the reorganization of certain selling and administrative functions within the Electronics segment due to the C&K acquisition. During the third quarter of 2023, the Company recognized a $0.8 million impairment charge substantially related to certain patents in a business within the Industrial segment. In addition, during the second quarter of 2023, the Company recognized a $3.9 million impairment charge related to the land and building of a property in the commercial vehicle business within the Transportation segment that the Company made the decision to donate. 2022 For the three and nine months ended October 1, 2022, the Company recorded total restructuring charges of $3.4 million and $4.3 million, respectively. primarily for employee termination costs. These charges are primarily related to the reorganization of certain manufacturing, selling and administrative functions within the passenger vehicle and automotive sensor businesses in the Transportation segment and the reorganization of selling and administrative functions due to the C&K acquisition within the Electronics segment. The restructuring liability as of September 30, 2023 and December 31, 2022 is $2.1 million and $2.4 million, respectively. The restructuring liability is included within accrued liabilities in the Condensed Consolidated Balance Sheets. The Company anticipates the remaining payments associated with employee terminations will primarily be completed in the third quarter fiscal year 2024.

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- 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
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