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Restructuring Activities | 9 Months Ended
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Oct. 05, 2024
Restructuring and Related Activities [Abstract] |
Restructuring Activities | 3. RESTRUCTURING ACTIVITIES In April 2024, the company announced a cost savings program to improve operational performance, which includes employee termination benefits associated with a reduction-in-force ("2024 RIF") and other expense optimization initiatives expected to be completed in Fiscal 2024. The company also incurred consulting costs associated with implementing the restructuring program. In February 2023, to improve operational effectiveness, increase profitable sales, and better meet customer requirements, the company announced a restructuring of plant operation responsibilities from the sales function to the supply chain function. As part of that restructuring, we incurred costs for employee termination benefits and other cash charges, which were primarily related to the voluntary employee separation incentive plan (the "2023 VSIP"), reduction-in-force (the "2023 RIF"), and employee relocation costs. There were no additional costs incurred during Fiscal 2024 for the 2023 VSIP, 2023 RIF, and employee relocation costs. The tables below present the components of costs associated with the restructuring programs detailed above (amounts in thousands):
|  | For the Twelve Weeks Ended |  |  | For the Forty Weeks Ended |
|  | October 5, 2024 |  |  | October 5, 2024 |
Restructuring charges: |  |  |  |  |  |
2024 RIF (1) |  | $ | — |  |  | $ | 7,403 |
Restructuring-related implementation costs (2) |  |  | — |  |  |  | 2,979 |
Total restructuring charges |  | $ | — |  |  | $ | 10,382 |
|  | For the Twelve Weeks Ended |  |  | For the Forty Weeks Ended |
|  | October 7, 2023 |  |  | October 7, 2023 |
Restructuring charges: |  |  |  |  |  |
2023 VSIP |  | $ | — |  |  | $ | 5,229 |
2023 RIF |  |  | — |  |  |  | 899 |
Relocation costs |  |  | 179 |  |  |  | 745 |
Total restructuring charges (1) |  | $ | 179 |  |  | $ | 6,873 |
(1) Presented on our Condensed Consolidated Statements of Income (Loss) (2) Costs are recorded in the selling, distribution and administrative expenses line item of our Condensed Consolidated Statements of Income (Loss). The table below presents the components of, and changes in, our restructuring accruals (amounts in thousands):
|  | 2023 VSIP |  |  | 2024 RIF |  |  | Total |
Liability balance at December 30, 2023 |  | $ | 1,429 |  |  | $ | — |  |  | $ | 1,429 |
Charges |  |  | — |  |  |  | 7,403 |  |  |  | 7,403 |
Cash payments |  |  | (1,429 | ) |  |  | (7,317 | ) |  |  | (8,746 | )
Liability balance at October 5, 2024 |  | $ | — |  |  | $ | 86 |  |  | $ | 86 |

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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 -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4.e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479823/420-10-S99-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/420/tableOfContent Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 + Details
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