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v3.23.1

Supplemental Financial Information (Tables) | 3 Months Ended
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Mar. 31, 2023
Supplemental Income Statement Elements [Abstract] |
Schedule of Restructuring and Impairment Charges | The components of “Restructuring and impairment charges” line item in the condensed consolidated statements of operations, which contains restructuring charges and related expenses, as well as impairment charges, were as follows:
| Three Months Ended |  |
(Dollars in thousands) | March 31, 2023 |  | March 31, 2022 |  |  |  |
Restructuring charges |  |  |  |  |  |  |
Manufacturing footprint optimization | $ | — |  |  | $ | 69 |  |  |  |  |
Global workforce reduction | 7,028 |  |  | — |  |  |  |  |
Facility consolidations | 3,473 |  |  | — |  |  |  |  |
Total restructuring charges | 10,501 |  |  | 69 |  |  |  |  |
Total restructuring and impairment charges | $ | 10,501 |  |  | $ | 69 |  |  |  |  |
The following table summarizes the allocation of restructuring and impairment charges to our operating segments:
| Three Months Ended |  |
(Dollars in thousands) | March 31, 2023 |  | March 31, 2022 |  |  |  |
Advanced Electronics Solutions |  |  |  |  |  |  |
Allocated restructuring charges | $ | 5,446 |  |  | $ | 69 |  |  |  |  |
Elastomeric Material Solutions |  |  |  |  |  |  |
Allocated restructuring charges | 5,055 |  |  | — |  |  |  |  |
Total restructuring and impairment charges | $ | 10,501 |  |  | $ | 69 |  |  |  |  |
Schedule of Severance Activity |
(Dollars in thousands) | Global Workforce Reduction Restructuring Severance and Related Benefits
Balance as of December 31, 2022 | $ | — |
Provisions | 6,996 |
Payments | (2,368) |
Foreign currency translation adjustment | 61 |
Balance as of March 31, 2023 | $ | 4,689 |
Schedule of Other Operating (Income) Expense | The components of “Other operating (income) expense, net” line item in the condensed consolidated statements of operations, were as follows:
| Three Months Ended |  |
(Dollars in thousands) | March 31, 2023 |  | March 31, 2022 |  |  |  |
UTIS fire |  |  |  |  |  |  |
Inventory charges | — |  |  | 201 |  |  |  |  |
Professional services | 263 |  |  | 434 |  |  |  |  |
Lease obligations | — |  |  | 232 |  |  |  |  |
Compensation & benefits | — |  |  | 796 |  |  |  |  |
Other | — |  |  | 11 |  |  |  |  |
Insurance recoveries | (500) |  |  | (2,190) |  |  |  |  |
Total UTIS fire | (237) |  |  | (516) |  |  |  |  |
(Gain) loss on sale or disposal of property, plant and equipment | 18 |  |  | (15) |  |  |  |  |
Total other operating (income) expense, net | $ | (219) |  |  | $ | (531) |  |  |  |  |
Schedule of Components of Interest Expense, Net | The components of “Interest expense, net” line item in the condensed consolidated statements of operations, were as follows:
| Three Months Ended |  |
(Dollars in thousands) | March 31, 2023 |  | March 31, 2022 |  |  |  |
Interest on revolving credit facility | $ | (3,380) |  |  | $ | (839) |  |  |  |  |
Line of credit fees | (302) |  |  | (138) |  |  |  |  |
Debt issuance amortization costs | (282) |  |  | (179) |  |  |  |  |
Interest income | 505 |  |  | 108 |  |  |  |  |
Other | (3) |  |  | (21) |  |  |  |  |
Total interest expense, net | $ | (3,462) |  |  | $ | (1,069) |  |  |  |  |

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