XML 56 R27.htm IDEA: XBRL DOCUMENT
v3.24.1.u1

Restructuring and Other Charges, Net (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2024
Restructuring and Related Activities [Abstract] |
Schedule of Restructuring and Other Charges, Net | We expect these restructuring charges to impact our business segments and corporate functions as follows:
|  |  | Charges |  |
(Dollars in thousands) | Positions |  | Minimum |  | Maximum |  |  |  |
Performance Sensing | 160 |  |  | 7,043 |  |  | 8,495 |  |  |  |  |
Sensing Solutions | 150 |  |  | 5,214 |  |  | 7,495 |  |  |  |  |
Corporate and other | 200 |  |  | 8,243 |  |  | 9,510 |  |  |  |  |
Total | 510 |  |  | 20,500 |  |  | 25,500 |  |  |  |  |
Restructuring charges, net recognized in the three months ended March 31, 2024 resulting from the Q3 2023 Plan are presented by business segment and corporate functions below.
(In thousands) | Severance |  | Facility and other exit costs (1) |  |  |  |
Performance Sensing | $ | 528 |  |  | $ | — |  |  |  |  |
Sensing Solutions | (349) |  |  | — |  |  |  |  |
Corporate and other | 419 |  |  | — |  |  |  |  |
Q3 2023 Plan total | $ | 598 |  |  | $ | — |  |  |  |  |
___________________________________ (1) Includes site closures. The following table presents the charges and gains included as components of restructuring and other charges, net for the three months ended March 31, 2024 and 2023:
| For the three months ended |  |
| March 31, 2024 |  | March 31, 2023 |  |  |  |
Q3 2023 Plan charges, net (1) | $ | 598 |  |  | $ | — |  |  |  |  |
Other restructuring and other charges, net |  |  |  |  |  |  |
Severance charges, net (2) | (9) |  |  | 4,213 |  |  |  |  |
Facility and other exit costs | 168 |  |  | 225 |  |  |  |  |
Gain on sale of business | — |  |  | (5,877) |  |  |  |  |
Acquisition-related compensation arrangements | 955 |  |  | 7,272 |  |  |  |  |
Other | (930) |  |  | 166 |  |  |  |  |
Restructuring and other charges, net | $ | 782 |  |  | $ | 5,999 |  |  |  |  |
___________________________________ (1) Includes severance charges, net and facility and other exit costs relating to the Q3 2023 Plan as detailed under the heading Q3 2023 Plan above. (2) Each period presented includes severance charges, net of reversals, that do not represent the initiation of a larger restructuring plan.
Schedule of Severance Liability | The following table presents a rollforward of our severance liability for the three months ended March 31, 2024:
| Q3 2023 Plan |  | Other |  | Total
Balance as of December 31, 2023 | $ | 6,017 |  |  | $ | 769 |  |  | $ | 6,786 |
Charges, net of reversals | 598 |  |  | (9) |  |  | 589 |
Payments | (3,296) |  |  | (369) |  |  | (3,665) |
Foreign currency remeasurement | (97) |  |  | (13) |  |  | (110) |
Balance as of March 31, 2024 | $ | 3,222 |  |  | $ | 378 |  |  | $ | 3,600 |

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 Tabular 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 Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 5.P.3) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479823/420-10-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482017/420-10-50-1 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 5.P.4) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479823/420-10-S99-2 + Details
Name: | us-gaap_ScheduleOfRestructuringAndRelatedCostsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost. This element may also include a description of any reversal and other adjustment made during the period to the amount of an accrued liability for restructuring activities. This element may be used to encapsulate the roll forward presentations of an entity's restructuring reserve by type of cost and in total, and explanation of changes that occurred in the period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482017/420-10-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4(b)(2)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479823/420-10-S99-2 + Details
Name: | us-gaap_ScheduleOfRestructuringReserveByTypeOfCostTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration