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Other Costs | 9 Months Ended
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Sep. 28, 2024
Restructuring and Related Activities [Abstract] |
Other Costs | Other Costs Relocation Costs The Company incurred costs of $535,000 in the third quarter of 2023 and $609,000 in the nine months ended September 30, 2023 within its Industrial Processing segment related to the write-down of certain fixed assets that were not moved to a new manufacturing facility in China and facility moving costs. Restructuring and Impairment Costs The Company initiated a restructuring plan within its Flow Control segment in the third quarter of 2023 to consolidate a small manufacturing operation into a larger facility in Germany. As part of this restructuring plan, the Company incurred restructuring and impairment costs totaling $434,000 in the third quarter and nine months ended September 30, 2023, including severance costs of $369,000 for the termination of 10 employees, asset write-downs of $36,000, and facility and other closure costs of $29,000. The Company also incurred restructuring costs within its Flow Control segment of $366,000 in the fourth quarter of 2023 related to the termination of a contract at one of its operations in Germany. A summary of the changes in accrued restructuring costs included in other current liabilities in the accompanying condensed consolidated balance sheet is as follows:
(In thousands) |  | Severance Costs |  | Contract Termination Costs |  |  |  | Total
2023 Restructuring Plan |  |  |  |  |  |  |  |
Balance at December 30, 2023 |  | $ | 201 |  |  | $ | 313 |  |  |  |  | $ | 514 |
Usage |  | (195) |  |  | (303) |  |  |  |  | (498) |
Currency translation |  | (6) |  |  | (10) |  |  |  |  | (16) |
Balance at September 28, 2024 |  | $ | — |  |  | $ | — |  |  |  |  | $ | — |

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- References No definition available. + Details
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- Definition The entire 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 No definition available. + Details
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