Restructuring Charges

12 Months Ended

Dec. 31, 2020

Restructuring And Related Activities [Abstract]

Note 18—Restructuring Charges

The Company has undertaken initiatives to restructure its business operations to improve utilization and realize cost savings. These initiatives have included changing the number and location of production facilities, largely to align capacity and infrastructure with current and anticipated customer demand. This alignment includes transferring programs from higher cost geographies to lower cost geographies. The process of restructuring entails moving production between facilities, reducing staff levels, realigning our business processes, reorganizing our management and other activities.

The Company recognized restructuring charges during 2020, 2019 and 2018 primarily related to the closure of facilities in the Americas, capacity reduction and reductions in workforce in certain facilities across various regions.

The following table summarizes the 2020 activity in the accrued restructuring balances related to the various restructuring activities initiated prior to December 31, 2020:

	Balance as of											Balance as of
	December 31,		Restructuring			Cash			Non-Cash			December 31,
(in thousands)	2019		Charges			Payment			Activity			2020
2020 Restructuring:
Severance	$	—	$	8,171		$	(4,182	)	$	(232	)	$	3,757
Lease facility costs		—		165			—			(127	)		38
Other exit costs		—		733			(202	)		(383	)		148
		—		9,069			(4,384	)		(742	)		3,943
2019 Restructuring:
Severance		3,956		(1,161	)		(2,484	)		(72	)		239
Lease facility costs		—		3,551			(2,394	)		(1,145	)		12
Other exit costs		—		1,441			(453	)		(728	)		260
		3,956		3,831			(5,331	)		(1,945	)		511
Total	$	3,956	$	12,900		$	(9,715	)	$	(2,687	)	$	4,454

The components of the restructuring charges initiated during 2020 were as follows:

(in thousands)	Americas		Asia		Europe		Total
Severance costs	$	6,977	$	1,181	$	13	$	8,171
Lease facility costs		165		—		—		165
Other exit costs		733		—		—		733
	$	7,875	$	1,181	$	13	$	9,069

During 2020, the Company recognized $8.2 million of employee termination costs associated with the involuntary terminations (both executed and planned) of 648 employees in connection with reductions in workforce worldwide. The identified involuntary employee terminations by reportable geographic region amounted to approximately 421, 210 and 17 for the Americas, Asia and Europe, respectively.

In addition, during the year ended December 31, 2020, we incurred $5.7 million and $1.0 million in costs related to asset impairments in the Americas and Asia, respectively.

The following table summarizes the 2019 activity in the accrued restructuring balances related to the various restructuring activities initiated prior to December 31, 2019:

	Balance as of										Foreign			Balance as of
	December 31,		Restructuring		Cash			Non-Cash			Exchange			December 31,
(in thousands)	2018		Charges		Payment			Activity			Adjustments			2019
2019 Restructuring:
Severance	$	—	$	6,449	$	(2,493	)	$	—		$	—		$	3,956
Other exit costs		—		1,597		(653	)		(944	)		—			—
		—		8,046		(3,146	)		(944	)		—			3,956
2018 Restructuring:
Severance		282		—		(282	)		—			—			—
Other exit costs		918		461		(1,379	)		—			—			—
		1,200		461		(1,661	)		—			—			—
2017 Restructuring:
Severance		—		—		—			—			—			—
Other exit costs		135		—		(124	)		—			(11	)		—
		135		—		(124	)		—			(11	)		—
Total	$	1,335	$	8,507	$	(4,931	)	$	(944	)	$	(11	)	$	3,956

The components of the restructuring charges initiated during 2019 were as follows:

(in thousands)	Americas		Asia		Europe		Total
Severance costs	$	4,499	$	1,950	$	—	$	6,449
Other exit costs		1,561		36		—		1,597
	$	6,060	$	1,986	$	—	$	8,046

During 2019, the Company recognized $6.4 million of employee termination costs associated with the involuntary terminations (both executed and planned) of 468 employees in connection with reductions in workforce worldwide. The identified involuntary employee terminations by reportable geographic region amounted to approximately 386, 81 and 1 for the Americas, Asia and Europe, respectively.

The components of the restructuring charges initiated during 2018 were as follows:

(in thousands)	Americas		Asia		Europe		Total
Severance costs	$	2,496	$	274	$	45	$	2,815
Other exit costs		1,773		—		—		1,773
	$	4,269	$	274	$	45	$	4,588

During 2018, the Company recognized $2.8 million of employee termination costs associated with the involuntary terminations (both executed and planned) of 490 employees in connection with reductions in workforce worldwide. The identified involuntary employee terminations by reportable geographic region amounted to approximately 432, 23 and 35 for the Americas, Asia and Europe, respectively.