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RESTRUCTURING COSTS

12 Months Ended

Dec. 31, 2021

RESTRUCTURING COSTS

RESTRUCTURING COSTS

NOTE 14.           RESTRUCTURING COSTS

During 2018, 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 periods presented, we incurred severance costs primarily related to the transition and exit of our facility in Shenzhen, PRC and actions associated with synergies related to the Artesyn acquisition. The table below summarizes restructuring charges:

​

​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​
​	​	Years Ended December 31,
​	​	2021			2020			2019
Severance and related charges		$	3,467	​	$	9,632	​	$	3,042
Facility relocation and closure charges	​		1,285	​		3,534	​		1,996
Total restructuring charges	​	$	4,752	​	$	13,166	​	$	5,038

​

​	​	​	​
​	​	Cumulative Cost
​	​	Through
​	​	December 31,
​	​	2021
Severance and related charges		$	20,380
Facility relocation and closure charges	​	​	6,815
Total restructuring charges	​	$	27,195

​

Our restructuring liabilities are included in other accrued expenses in our Consolidated Balance Sheets and related primarily to severance and associated costs. Changes in restructuring liabilities were as follows:

​

​	​	​	​	​	​	​
​		December 31,		​	December 31,
​	​	2021			2020
Balance at beginning of period		$	10,641	​	$	2,172
Costs incurred and charged to expense	​	​	4,752	​	​	13,166
Costs paid or otherwise settled	​	​	(6,127)	​	​	(4,714)
Effects of changes in exchange rate	​	​	(3)	​	​	17
Balance at end of period	​	$	9,263	​	$	10,641

​

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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.

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-Publisher FASB
-Name Accounting Standards Codification
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