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Supplemental Financial Information | 12 Months Ended
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Dec. 31, 2020
Supplemental Income Statement Elements [Abstract] |
Supplemental Financial Information | Supplemental Financial Information Restructuring and Impairment Charges The components of “Restructuring and impairment charges” line item in the condensed consolidated statements of operations, were as follows:
| Years Ended December 31,
(Dollars in thousands) | 2020 |  | 2019 |  | 2018
Restructuring charges |  |  |  |  |
Manufacturing footprint optimization | $ | 12,348 |  |  | $ | — |  |  | $ | — |
Facility consolidation | — |  |  | 948 |  |  | 1,982 |
Global headquarters relocation | — |  |  | — |  |  | 550 |
Restructuring charges | 12,348 |  |  | 948 |  |  | 2,532 |
Impairment charges |  |  |  |  |
Fixed assets impairment charges | 587 |  |  | 1,537 |  |  | 1,506 |
Other impairment charges | 52 |  |  | — |  |  | — |
Impairment charges | 639 |  |  | 1,537 |  |  | 1,506 |
Total restructuring and impairment charges | $ | 12,987 |  |  | $ | 2,485 |  |  | $ | 4,038 |
Restructuring Charges - Manufacturing Footprint Optimization During the third quarter of 2020, we commenced manufacturing footprint optimization plans involving certain Europe and Asia manufacturing locations, primarily impacting our PES and ACS operating segments, in order to achieve greater cost competitiveness as well as align capacity with end market demand. We expect the majority of the restructuring activities to be completed by the end of the first half of 2021. Severance and related benefits activity related to the manufacturing footprint optimization plan is presented in the table below for the year ended December 31, 2020:
(Dollars in thousands) | Manufacturing Footprint Optimization Restructuring Severance and Related Benefits
Balance as of December 31, 2019 | $ | — |
Provisions | 11,451 |
Payments | (819) |
Foreign currency translation adjustment | 371 |
Balance as of December 31, 2020 | $ | 11,003 |
Restructuring Charges - Facility Consolidation & Global Headquarters Relocation In 2018, we made the decision to consolidate our Santa Fe Springs, California operations into our facilities in Carol Stream, Illinois and Bear, Delaware. We recorded $0.9 million and $2.0 million of restructuring charges in 2019 and 2018, respectively, related to the facility consolidation. In 2017, we relocated our global headquarters from Rogers, Connecticut to Chandler, Arizona. We recorded $0.6 million of restructuring charges in 2018 related to the headquarters relocation. Impairment Charges We recognized $0.6 million of impairment charges in 2020, primarily related to fixed assets in Belgium pertaining to our ACS operating segment and a building lease in Hungary pertaining to our PES operating segment. We recognized $1.5 million of impairment charges in both 2019 and 2018 pertaining to our ACS operating segment, primarily on certain assets in connection with the Isola USA Corp. (Isola) asset acquisition. Allocation of Restructuring and Impairment Charges to Operating Segments The following table summarizes the allocation of restructuring and impairment charges to our operating segments:
| Years Ended December 31,
(Dollars in thousands) | 2020 |  | 2019 |  | 2018
Advanced Connectivity Solutions |  |  |  |  |
Allocated restructuring charges | $ | 4,288 |  |  | $ | — |  |  | $ | 244 |
Allocated impairment charges | 335 |  |  | 1,537 |  |  | 1,506 |
Elastomeric Material Solutions |  |  |  |  |
Allocated restructuring charges | 401 |  |  | 948 |  |  | 2,152 |
Allocated impairment charges | 52 |  |  | — |  |  | — |
Power Electronics Solutions |  |  |  |  |
Allocated restructuring charges | 7,659 |  |  | — |  |  | 136 |
Allocated impairment charges | 252 |  |  | — |  |  | — |
Total restructuring and impairment charges | $ | 12,987 |  |  | $ | 2,485 |  |  | $ | 4,038 |
Other Operating (Income) Expense, Net The components of “Other operating (income) expense, net” were as follows:
| Years Ended December 31,
(Dollars in thousands) | 2020 |  | 2019 |  | 2018
Lease income | $ | — |  |  | $ | (989) |  |  | $ | (948) |
Depreciation on leased assets | — |  |  | 1,907 |  |  | 3,512 |
Loss (gain) on sale or disposal of property, plant and equipment | 41 |  |  | 756 |  |  | (164) |
Gain from antitrust litigation settlement | — |  |  | — |  |  | (4,231) |
Indemnity claim settlements from acquisitions | — |  |  | (715) |  |  | (700) |
Economic incentive grants | (145) |  |  | — |  |  | (556) |
Total other operating (income) expense, net | $ | (104) |  |  | $ | 959 |  |  | $ | (3,087) |
In connection with the transitional leaseback of a portion of the facility and certain machinery and equipment acquired from Isola in August 2018, we recognized lease income and related depreciation on leased assets of $1.0 million and $1.9 million, respectively, in 2019, and $0.9 million and $3.5 million, respectively, in 2018. In 2019, we recorded a gain of $0.7 million for the settlement of indemnity claims related to the Isola asset acquisition. In 2018, we recorded a gain from the settlement of antitrust litigation in the amount of $4.2 million as a result of the settlement of a class action lawsuit, filed in 2005, which alleged that Dow Chemical Company and other urethane raw material suppliers unlawfully agreed to fix, raise, maintain or stabilize the prices of polyether polyol products sold in the U.S. from January 1, 1999 through December 31, 2004 in violation of the federal antitrust laws. We also recorded a gain of $0.7 million for the settlement of indemnity claims related to the DSP acquisition and income of $0.6 million from economic incentive grants related to the relocation of our global headquarters from Rogers, Connecticut to Chandler, Arizona. Interest Expense, Net The components of “Interest expense, net” were as follows:
| Years Ended December 31,
(Dollars in thousands) | 2020 |  | 2019 |  | 2018
Interest on revolving credit facility | $ | 3,294 |  |  | $ | 7,378 |  |  | $ | 6,304 |
Interest rate swap settlements | 3,191 |  |  | (200) |  |  | (247) |
Line of credit fees | 715 |  |  | 576 |  |  | 573 |
Debt issuance amortization costs | 593 |  |  | 552 |  |  | 552 |
Interest on finance leases | 134 |  |  | 127 |  |  | 172 |
Interest income | (939) |  |  | (1,610) |  |  | (804) |
Other | 147 |  |  | 46 |  |  | 79 |
Total interest expense, net | $ | 7,135 |  |  | $ | 6,869 |  |  | $ | 6,629 |

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