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Exit Activity Costs and Asset Impairments | 12 Months Ended
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Dec. 31, 2021
Restructuring and Related Activities [Abstract] |
Exit Activity Costs and Asset Impairments | EXIT ACTIVITY COSTS AND ASSET IMPAIRMENTS The Company has incurred exit activity costs and asset impairment charges as a result of its 80/20 simplification and portfolio management initiatives. These initiatives have resulted in the identification of low-volume, low margin, internally-produced products which have been or will be outsourced or discontinued, the simplification of processes, in the sale and exiting of less profitable businesses or products lines, and the reduction in our manufacturing footprint. Exit activity costs were incurred during 2021 related to moving and closing costs, severance and contract terminations, along with asset impairment charges related to the write-down of inventory and impairment of machinery and equipment associated with discontinued product lines, as a result of process simplification initiatives. In conjunction with these initiatives, in 2021, the Company closed four facilities. In 2020, the Company closed two facilities and, separately, sold a facility closed in 2017. The Company closed and consolidated one facility during 2019. These closures resulted in exit activity costs and asset impairment charges. The following table sets forth the exit activity costs and asset impairment charges incurred by segment during the years ended December 31 related to the restructuring activities described above (in thousands):
| 2021 |  | 2020 |  | 2019
| Exit activity costs |  | Asset impairment charges |  | Total |  | Exit activity costs |  | Asset impairment charges |  |  |  | Total |  | Exit activity costs |  | Asset impairment charges |  |  |  | Total
Renewables | $ | 4,769 |  |  | $ | 1,193 |  |  | $ | 5,962 |  |  | $ | 15 |  |  | $ | — |  |  |  |  | $ | 15 |  |  | $ | 66 |  |  | $ | — |  |  |  |  | $ | 66 |
Residential | 393 |  |  | — |  |  | 393 |  |  | 731 |  |  | 9 |  |  |  |  | 740 |  |  | 3,440 |  |  | 417 |  |  |  |  | 3,857 |
Agtech | 1,687 |  |  | — |  |  | 1,687 |  |  | 860 |  |  | 72 |  |  |  |  | 932 |  |  | — |  |  | (9) |  |  |  |  | (9) |
Infrastructure | 26 |  |  | — |  |  | 26 |  |  | 226 |  |  | — |  |  |  |  | 226 |  |  | — |  |  | — |  |  |  |  | — |
Corporate | 145 |  |  | — |  |  | 145 |  |  | 375 |  |  | — |  |  |  |  | 375 |  |  | 1,660 |  |  | — |  |  |  |  | 1,660 |
Total exit activity costs & asset impairments | $ | 7,020 |  |  | $ | 1,193 |  |  | $ | 8,213 |  |  | $ | 2,207 |  |  | $ | 81 |  |  |  |  | $ | 2,288 |  |  | $ | 5,166 |  |  | $ | 408 |  |  |  |  | $ | 5,574 |
The following table provides a summary of where the above exit activity costs and asset impairments are recorded in the consolidated statements of operations for the years ended December 31 (in thousands):
| 2021 |  | 2020 |  | 2019
Cost of sales | $ | 6,176 |  |  | $ | 1,059 |  |  | $ | 767 |
Selling, general, and administrative expense | 2,037 |  |  | 1,229 |  |  | 4,807 |
Total exit activity costs and asset impairments | $ | 8,213 |  |  | $ | 2,288 |  |  | $ | 5,574 |
The following table reconciles the beginning and ending liability for exit activity costs relating to the Company’s facility consolidation efforts (in thousands):
| 2021 |  | 2020
Balance as of January 1 | $ | 1,030 |  |  | $ | 2,083 |
Exit activity costs recognized | 7,020 |  |  | 2,207 |
Cash payments | (7,778) |  |  | (3,260) |
Balance as of December 31 | $ | 272 |  |  | $ | 1,030 |

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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 http://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 http://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 http://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 http://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 http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 + Details
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