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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

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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.

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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.

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