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RESTRUCTURING COSTS

9 Months Ended

Sep. 30, 2020

RESTRUCTURING COSTS

RESTRUCTURING COSTS

NOTE 14.    RESTRUCTURING COSTS

During 2019, we committed to a restructuring plan to optimize our manufacturing footprint and to improve our operating efficiencies and synergies related to our recent acquisitions. For the three and nine months ended September 30, 2020, we incurred severance costs primarily related to the transition and exit of our facility in Shenzhen, People’s Republic of China, and actions associated with synergies related to the Artesyn acquisition. The table below summarizes the restructuring charges:

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​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​
​	​	Three Months		​	Nine Months		​	Cumulative Cost
​	​	Ended September 30,		​	Ended September 30,		​	Through September 30,
​	​	2020		​	2020		​	2020
Severance and related charges		$	202		$	5,207		$	12,487
Facility relocation and closure charges	​	​	1,292		​	2,733		​	4,730
Total restructuring charges	​	$	1,494		$	7,940		$	17,217

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The following table summarizes our restructuring liabilities at September 30, 2020:

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Cost

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Incurred

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Cost Paid

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Effect of

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​

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Balance at

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and

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or

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Changes in

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Balance at

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December 31,

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Charged to

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Otherwise

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Exchange

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September 30,

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2019

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Expense

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Settled

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Rates

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2020

Total restructuring liabilities

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$

2,172

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$

7,940

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$

(3,339)

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$

18

​

$

6,791

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As of December 31, 2019 and September 30, 2020 the accrued restructuring liabilities related primarily to severance and related charges.

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- References

No definition available.

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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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-URI http://asc.fasb.org/topic&trid=2175745

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