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Restructuring Activities

12 Months Ended

Dec. 31, 2022

Restructuring and Related Activities [Abstract]

Restructuring Activities

Restructuring Activities

In 2020, the Company initiated restructuring activities including a workforce reduction, the termination of certain current and future products, facility changes, optimizing its global dealer network, exiting certain international markets, and discontinuing its sales and manufacturing operations in India. The workforce reduction resulted in the termination of approximately 500 employees. In addition, the India action resulted in the termination of approximately 70 employees. The Company's restructuring activities were completed in 2022.

Since the inception of the restructuring activities in 2020, the Company has incurred cumulative restructuring expenses, included in Restructuring (benefit) expense on the Consolidated statements of operations, of $132.8 million, including $121.3 million and $11.5 million in the HDMC and HDFS segments, respectively.

Changes in accrued restructuring expenses, which are included in Accrued liabilities on the Consolidated balance sheets, were as follows as of December 31, (in thousands):

			2022
			Employee Termination Benefits						Contract Terminations & Other						Non-Current Asset Adjustments						Total
Balance, beginning of period			$	121					$	2,874					$	—					$	2,995
Restructuring benefit			—						(544)						—						(544)
Utilized – cash			(124)						(2,325)						—						(2,449)
Utilized – non cash			—						—						—						—
Foreign currency changes			3						(5)						—						(2)
Balance, end of period			$	—					$	—					$	—					$	—
			2021
			Employee Termination Benefits						Contract Terminations & Other						Non-Current Asset Adjustments						Total
Balance, beginning of period			$	7,724					$	16,196					$	—					$	23,920
Restructuring (benefit) expense			(1,400)						4,405						410						3,415
Utilized – cash			(6,025)						(17,608)						—						(23,633)
Utilized – non cash			—						—						(410)						(410)
Foreign currency changes			(178)						(119)						—						(297)
Balance, end of period			$	121					$	2,874					$	—					$	2,995
			2020
			Employee Termination Benefits						Contract Terminations & Other						Non-Current Asset Adjustments						Total
Balance, beginning of period			$	—					$	—					$	—					$	—
Restructuring expense			28,913						70,894						30,202						130,009
Utilized – cash			(21,494)						(54,773)						—						(76,267)
Utilized – non cash			—						—						(30,202)						(30,202)
Foreign currency changes			305						75						—						380
Balance, end of period			$	7,724					$	16,196					$	—					$	23,920

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- References

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- Definition

The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 5.P.4(e))
-URI https://asc.fasb.org/extlink&oid=115931487&loc=d3e140904-122747

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-URI https://asc.fasb.org/topic&trid=2175745

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-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

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