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Restructuring, Acquisition, and Related Costs | 9 Months Ended
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Oct. 01, 2021
Restructuring And Related Activities [Abstract] |
Restructuring, Acquisition, and Related Costs | 14. Restructuring, Acquisition, and Related Costs The following table summarizes restructuring, acquisition, and related costs in the accompanying consolidated statements of operations (in thousands):
| Three Months Ended |  |  | Nine Months Ended |
| October 1, |  |  | October 2, |  |  | October 1, |  |  | October 2, |
| 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
2020 restructuring | $ | 5,185 |  |  | $ | 1,006 |  |  | $ | 7,688 |  |  | $ | 1,006 |
2019 restructuring |  | — |  |  |  | 68 |  |  |  | 208 |  |  |  | 667 |
2018 restructuring |  | — |  |  |  | — |  |  |  | — |  |  |  | 754 |
Total restructuring charges | $ | 5,185 |  |  | $ | 1,074 |  |  | $ | 7,896 |  |  | $ | 2,427 |
Acquisition and related charges |  | 2,935 |  |  |  | 613 |  |  |  | 8,589 |  |  |  | 3,164 |
Total restructuring, acquisition, and related costs | $ | 8,120 |  |  | $ | 1,687 |  |  | $ | 16,485 |  |  | $ | 5,591 |
2020 Restructuring As a result of the Company’s ongoing evaluations and efforts to reduce its operating costs, while improving efficiency and effectiveness, the Company initiated the 2020 restructuring program in the third quarter of 2020. This program is focused on reducing operating complexity in the Company, including reducing infrastructure costs and streamlining the Company’s operating model to better serve its customers. In addition, the program will be focused on cost reduction actions that improve gross margins for the overall company. During the three and nine months ended October 1, 2021, the Company recorded $5.2 million and $7.7 million, respectively, in severance and other costs in connection with the 2020 restructuring program. As of October 1, 2021, the Company had incurred cumulative costs related to this restructuring plan totaling $10.4 million. The Company anticipates substantially completing the 2020 restructuring program in the second quarter of 202 2 and expects to incur additional restructuring charges of $3.0 million to $4.0 million related to the 2020 restructuring program. The following table summarizes restructuring costs associated with the 2020 restructuring program by reportable segment (in thousands):
| Three Months Ended |  |  | Nine Months Ended |
| October 1, |  |  | October 2, |  |  | October 1, |  |  | October 2, |
| 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Photonics | $ | 2,349 |  |  | $ | — |  |  | $ | 2,839 |  |  | $ | — |
Vision |  | 193 |  |  |  | 1,006 |  |  |  | 890 |  |  |  | 1,006 |
Precision Motion |  | 2,643 |  |  |  | — |  |  |  | 3,959 |  |  |  | — |
Unallocated Corporate and Shared Services |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total | $ | 5,185 |  |  | $ | 1,006 |  |  | $ | 7,688 |  |  | $ | 1,006 |
2019 Restructuring During the fourth quarter of 2018, the Company implemented a restructuring plan intended to realign operations, reduce costs, achieve operational efficiencies and focus resources on growth initiatives (the “2019 restructuring plan”). During the three and nine months ended October 1, 2021, the Company incurred zero and $0.2 million, respectively, in severance and related costs in connection with the 2019 restructuring plan. As of October 2, 2021, the Company incurred cumulative costs related to this restructuring plan totaling $9.0 million. The 2019 restructuring program was completed in the first quarter of 2021. Rollforward of Accrued Expenses Related to Restructuring The following table summarizes the accrual activities, by component, related to the Company’s restructuring plans recorded in the accompanying consolidated balance sheets (in thousands):
| Total |  |  | Severance |  |  | Facility |  |  | Other |
Balance at December 31, 2020 | $ | 1,800 |  |  | $ | 1,681 |  |  | $ | 116 |  |  | $ | 3 |
Restructuring charges |  | 7,896 |  |  |  | 6,292 |  |  |  | 1,183 |  |  |  | 421 |
Cash payments |  | (2,333 | ) |  |  | (1,837 | ) |  |  | (215 | ) |  |  | (281 | )
Non-cash charges and other adjustments (1) |  | (3,486 | ) |  |  | (2,981 | ) |  |  | (505 | ) |  |  | — |
Balance at October 1, 2021 | $ | 3,877 |  |  | $ | 3,155 |  |  | $ | 579 |  |  | $ | 143 |
(1) | Non-cash charges included stock compensation charges amounting to $3.0 million associated with severance agreements for certain employees.
Acquisition and Related Charges Acquisition costs in connection with business combinations, including finders’ fees, legal, valuation, and other professional or consulting fees, totaled $2.9 million and $4.7 million for the three and nine months ended October 1, 2021, respectively, and less than $0.1 million and $0.1 million for the three and nine months ended October 2, 2020, respectively. The Company incurred $0.1 million and $1.9 million for the three and nine months ended October 1, 2021, respectively, and $0.4 million and $1.0 million for the three and nine months ended October 2, 2020, respectively, in legal costs related to a dispute involving a company that was acquired in 2019. Acquisition and related costs recognized under earn-out agreements in connection with acquisitions totaled less than ($0.1) million and $1.9 million for the three and nine months ended October 1, 2021, respectively, and $0.2 million and $2.0 million for the three and nine months ended October 2, 2020, respectively. The majority of acquisition and related costs for the three months ended October 1, 2021 were included in the Company’s Unallocated Corporate and Shared Services reportable segment. The majority of acquisition and related costs for the nine months ended October 1, 2021 were included in the Company’s Precision Motion, Vision and Unallocated Corporate and Shared Services reportable segments. The majority of acquisition and related costs for the three and nine months ended October 2, 2020 were included in the Company’s Precision Motion and Vision reportable segments.

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