XML 28 R18.htm IDEA: XBRL DOCUMENT

Restructuring Charges

3 Months Ended

Mar. 31, 2023

10. Restructuring Charges

During the first quarter of 2023, a plan to further streamline our organization and more fully align our teams to improve our customer service and profitability was approved by management. We expect to incur additional restructuring charges of $1.5 million related to these restructuring activities.

The following table presents the changes to our accrued liability balance related to restructuring charges during the quarter ended March 31, 2023:




(in thousands)	Total
Balance at December 31, 2022	$	—
Charges incurred		1,047
Payments		(120)
Balance at March 31, 2023	$	927

The following table presents restructuring charges incurred by segment:


	Contract		Aftermarket
(in thousands)	Operations		Services		Other⁽¹⁾		Total
Three months ended March 31, 2023
Organizational restructuring	$	203	$	—	$	844	$	1,047
Total restructuring charges	$	203	$	—	$	844	$	1,047

(1)	Represents expense incurred within our corporate function and not directly attributable to our segments.

The following table presents restructuring charges incurred by cost type:


	Three Months Ended
(in thousands)	March 31, 2023
Organizational restructuring
Severance costs	$	789
Consulting costs		258
Total restructuring charges	$	1,047