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Restructuring and Other Charges (Tables)

6 Months Ended

Jul. 01, 2022

Restructuring and Related Activities [Abstract]

Schedule of Restructuring and Related Charges

Restructuring and other charges comprise the following (in thousands):

			Three Months Ended												Six Months Ended
			July 1, 2022						July 2, 2021						July 1, 2022						July 2, 2021
Restructuring charges			$	(5)					$	191					$	1,098					$	845
Acquisition and integration costs			3,333						26						5,269						110
Other general expenses			205						62						501						239
Total restructuring and other charges			$	3,533					$	279					$	6,868					$	1,194

The following table comprises restructuring and restructuring-related charges by income statement classification for the three and six month periods ended July 1, 2022 (in thousands):

			Three Months Ended												Six Months Ended
			July 1, 2022												July 1, 2022
Restructuring charges:
Restructuring and other charges			$	(5)											$	1,098
Restructuring-related expenses(a):
Cost of sales			179												334
Selling, general and administrative			384												702
Research, development and engineering			326												503
Total restructuring and restructuring-related charges			$	884											$	2,637

__________

(a) Restructuring-related expenses primarily include retention bonuses and consulting expenses. Restructuring related expense for the three and six months ended July 2, 2021 were not material.

Schedule of Changes in Restructuring Reserves

The following table summarizes the activity for restructuring reserves (in thousands):

			Operational excellence initiatives						Strategic reorganization and alignment												Total
December 31, 2021			$	298					$	134											$	432
Charges incurred, net of reversals			704						394												1,098
Cash payments			(825)						(46)												(871)
July 1, 2022			$	177					$	482											$	659

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- 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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 5.P.3)
-URI https://asc.fasb.org/extlink&oid=115931487&loc=d3e140864-122747

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB TOPIC 5.P.4)
-URI https://asc.fasb.org/extlink&oid=115931487&loc=d3e140904-122747

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- 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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-URI https://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 5.P.4(b)(2))
-URI https://asc.fasb.org/extlink&oid=115931487&loc=d3e140904-122747

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