XML 27 R12.htm IDEA: XBRL DOCUMENT
v3.20.4

Restructuring and Related Activities | 12 Months Ended
--- | ---
Dec. 31, 2020
Restructuring and Related Activities [Abstract] |
Restructuring and Related Activities | Note 4 – Restructuring and Related Activities The Company places a strong emphasis on controlling its costs and combats general price inflation by continuously improving its efficiency and operating performance. When the ongoing cost containment activities are not adequate, the Company takes actions to maintain its cost competitiveness. The Company incurred significant restructuring costs in its past to reduce its cost structure. Historically, the Company's primary cost reduction technique was through the transfer of production from high-labor-cost countries to lower-labor-cost countries. Since 2013, the Company's cost reduction programs have primarily focused on reducing fixed costs, including selling, general, and administrative expenses. In 2019, the Company announced global cost reduction and management rejuvenation programs as part of its continuous efforts to improve efficiency and operating performance. The programs were primarily designed to reduce manufacturing fixed costs and selling, general, and administrative costs company-wide, and provide management rejuvenation. These programs are now fully implemented. The Company incurred charges of $24,882, primarily related to cash severance costs, to implement these programs. The following table summarizes the activity to date related to this program:
Expense recorded in 2019 |  | $ | 24,139 |
Cash paid |  |  | (1,330 | )
Foreign currency translation |  |  | 35 |
Balance at December 31, 2019 |  | $ | 22,844 |
Expense recorded in 2020 |  |  | 743 |
Cash paid |  |  | (10,813 | )
Foreign currency translation |  |  | 683 |
Balance at December 31, 2020 |  | $ | 13,457 |
Severance benefits are generally paid in a lump sum at cessation of employment. The current portion of the liability is $11,595 and is included in other accrued expenses in the accompanying consolidated balance sheet. The non-current portion of the liability is $1,862 and is included in other liabilities in the accompanying consolidated balance sheet.

X
- References No definition available. + Details
Name: | us-gaap_RestructuringAndRelatedActivitiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -URI http://asc.fasb.org/topic&trid=2175745 + Details
Name: | us-gaap_RestructuringAndRelatedActivitiesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration