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Restructuring and Other Charges

9 Months Ended

Sep. 29, 2024

Restructuring Charges [Abstract]

Restructuring and Other Charges

Note 13. Restructuring and Other Charges

The Company accounts for its restructuring plans under the authoritative guidance for exit or disposal activities. The Company includes expenses related to restructuring and other charges in Other operating expenses (income), net in the

condensed consolidated statements of operations. Accrued restructuring and other charges are classified within Accrued employee compensation and Other accrued liabilities on the condensed consolidated balance sheets.

Restructuring and other charges recognized in the three and nine months ended September 29, 2024 and October 1, 2023, respectively, were primarily for severance, and other costs in relation to the reorganization of our business to better align the cost structure of the business with the areas to deliver long-term growth and expanding profitability or projected revenue levels. The liabilities as of September 29, 2024 are expected to be settled in 2024.

The following table provides a summary of the activity related to accrued restructuring and other charges:

(In thousands)		Accrued Restructuring and Other Charges at December 31, 2023				Additions				Cash Payments				Adjustments				Accrued Restructuring and Other Charges at September 29, 2024
Restructuring
Employee termination charges		$	257			$	3,493			$	(3,061	)		$	(19	)		$	670
Lease contract termination and other charges			30				299				(86	)			(243	)			—
Total Restructuring and other charges		$	287			$	3,792			$	(3,147	)		$	(262	)		$	670

(In thousands)		Accrued Restructuring and Other Charges at December 31, 2022				Additions				Cash Payments				Adjustments				Accrued Restructuring and Other Charges at October 1, 2023
Restructuring
Employee termination charges		$	1,912			$	2,650			$	(4,138	)		$	(80	)		$	344
Lease contract termination and other charges			—				395				(367	)			—				28
Total Restructuring and other charges		$	1,912			$	3,045			$	(4,505	)		$	(80	)		$	372

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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
-Topic 420
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 5.P.4.e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479823/420-10-S99-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 420
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482017/420-10-50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 420
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482017/420-10-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 420
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/420/tableOfContent

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 420
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482017/420-10-50-1

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No definition available.

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