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Restructuring, Integration, and Other Charges | 6 Months Ended
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Jun. 29, 2019
Restructuring Charges [Abstract] |
Restructuring, Integration and Other Charges [Text Block] | Restructuring, Integration, and Other Charges Restructuring initiatives are due to the company’s continued efforts to lower cost and drive operational efficiency. Integration costs are primarily related to the integration of acquired businesses within the company’s pre-existing business and the consolidation of certain operations. The following table presents the components of the restructuring, integration, and other charges:
|  | Quarter Ended |  | Six Months Ended
|  | June 29, 2019 |  | June 30, 2018 |  | June 29, 2019 |  | June 30, 2018
Restructuring and integration charges - current period actions |  | $ | 5,071 |  |  | $ | 8,798 |  |  | $ | 8,078 |  |  | $ | 20,230 |
Restructuring and integration charges - actions taken in prior periods |  | 1,424 |  |  | 2,931 |  |  | 1,363 |  |  | 4,280 |
Other charges |  | 13,417 |  |  | 7,454 |  |  | 22,131 |  |  | 15,844 |
|  | $ | 19,912 |  |  | $ | 19,183 |  |  | $ | 31,572 |  |  | $ | 40,354 |
Restructuring and Integration Accrual Summary The restructuring and integration accrual was $13,516 and $25,829 at June 29, 2019 and December 31, 2018, respectively. A transition adjustment of $9,968 was recorded on January 1, 2019 to reclassify restructuring and integration accruals for facilities costs by adjusting the related lease right-of-use assets recorded upon adoption of ASU No. 2016-02, Topic 842. During the six months ended June 29, 2019, the company made $11,977 of payments related to restructuring and integration accruals. Substantially all amounts accrued at June 29, 2019 and all restructuring and integration charges for the six months ending June 29, 2019 relate to the termination of personnel. All amounts accrued at June 29, 2019 are expected to be spent in cash within two years. Other Charges Included in restructuring, integration, and other charges for the second quarter and the first six months of 2019 are other expenses of $13,417 and $22,131, respectively. The following items were included in other charges and credits recorded to restructuring, integration, and other charges for the second quarter and six months ended June 29, 2019:
• | acquisition-related charges for the second quarter and first six months of $223 and $1,245, respectively, related to professional and other fees directly related to recent acquisition activity as well as contingent consideration for acquisitions completed in prior years.
• | relocation and other charges associated with centralization efforts to maximize operating efficiencies for the second quarter and first six months of $3,174 and $8,733, respectively.
Included in restructuring, integration, and other charges for the second quarter and first six months of 2018 are other expenses of $7,454 and $15,844, respectively. The following items represent other charges and credits recorded to restructuring, integration, and other charges for the second quarter and six months ended June 30, 2018:
• | acquisition related charges for the second quarter and first six months of $1,384 and $7,538, respectively, related to professional and other fees directly related to recent acquisition activity as well as contingent consideration for acquisitions completed in prior years.
As previously disclosed in Item 2.02 Form 8-K filed on July 15, 2019, the company has also initiated separate and distinct actions to reduce its annual operating expenses, which are expected to generate approximately $130,000 in annualized cost savings. Substantially all of these actions will be completed by the end of 2019. The company expects to recognize approximately $45,000 in cash severance costs as well as approximately $4,000 in other non-cash asset impairments and approximately $10,000 in cash contract termination costs. Substantially all of the severance, assets impairments, and termination costs are expected to be recognized in the third quarter of 2019.

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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 + Details
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- References No definition available. + Details
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