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Business Realignment and Restructuring | 9 Months Ended
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Sep. 30, 2019
Business Realignment and Restructuring [Abstract] |
Business Realignment and Restructuring | (12) Business Realignment and Restructuring On January 10, 2019, the Company committed to a restructuring plan that will result in the closure of the Canton, Massachusetts facility (“Canton Facility”) which is expected by March 31, 2020 and the consolidation of manufacturing operations at that site into other Company locations (“Canton Restructuring”). Company management informed employees at the Canton Facility of this restructuring decision on January 11, 2019. The estimated costs for the Canton Restructuring include employee severance and termination costs, contract terminations costs, professional fees and other related costs. ​ ​ The Company recognized expense of $3,607 and $9,275, respectively, for the three and nine months ended September 30, 2019 as a result of these actions for employee termination benefits and other restructuring related costs. For the three months ended September 30, 2019 severance and other restructuring related costs of $2,567, $287 and $753 were recognized in COGS, SG&A and D&D, respectively, in the condensed consolidated statement of operations. For the nine months ended September 30, 2019 severance and other related restructuring costs of $6,173, $762 and $2,340 were recognized in COGS, SG&A and D&D, respectively, in the condensed consolidated statement of operations. The estimated additional cost of the Canton Facility restructuring plan, that will impact the Control Devices segment, is between $1,900 and $3,000 and will be incurred through 2020. The expenses for the 2019 Canton Restructuring that relate to the Control Devices reportable segment include the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Accrual as of | ​ | 2019 Charge | ​ | ​ | Utilization | ​ | Accrual as of
​ | ​ | January 1, 2019 | ​ | to Expense | ​ | Cash | ​ | Non-Cash | ​ | September 30, 2019
Employee termination benefits | ​ | $ | - | ​ | $ | 6,967 | ​ | $ | (1,371) | ​ | $ | - | ​ | $ | 5,596
Other related costs | ​ | ​ | - | ​ | ​ | 2,308 | ​ | ​ | (2,226) | ​ | ​ | - | ​ | ​ | -
Total | ​ | $ | - | ​ | $ | 9,275 | ​ | $ | (3,597) | ​ | $ | - | ​ | $ | 5,596
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ In the fourth quarter of 2018, the Company undertook restructuring actions for the Electronics segment affecting the European Aftermarket business and China operations. The Company recognized expense of $157 and $469, respectively, for the three and nine months ended September 30, 2019 as a result of these actions for severance, contract termination costs, accelerated depreciation of fixed assets and other related costs. Electronics segment restructuring costs were recognized in SG&A in the condensed consolidated statement of operations for the three and nine months ended September 30, 2019. The Company expects to incur approximately $600 of additional restructuring costs related to these actions through 2020. The expenses for the 2019 restructuring activities that relate to the Electronics reportable segment include the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Accrual as of | ​ | 2019 Charge to | ​ | ​ | Utilization | ​ | Accrual as of
​ | ​ | January 1, 2019 | ​ | Expense (Income) | ​ | Cash | ​ | Non-Cash | ​ | September 30, 2019
Employee termination benefits | ​ | $ | 520 | ​ | $ | (30) | ​ | $ | (442) | ​ | $ | 3 | ​ | $ | 51
Accelerated depreciation | ​ | ​ | - | ​ | ​ | 289 | ​ | ​ | - | ​ | ​ | (289) | ​ | ​ | -
Contract termination costs | ​ | ​ | 17 | ​ | ​ | 24 | ​ | ​ | (41) | ​ | ​ | - | ​ | ​ | -
Other related costs | ​ | ​ | 119 | ​ | ​ | 186 | ​ | ​ | (305) | ​ | ​ | - | ​ | ​ | -
Total | ​ | $ | 656 | ​ | $ | 469 | ​ | $ | (788) | ​ | $ | (286) | ​ | $ | 51
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ In addition to the specific restructuring activities, the Company regularly evaluates the performance of its businesses and cost structures, including personnel, and makes necessary changes thereto in order to optimize its results. The Company also evaluates the required skill sets of its personnel and periodically makes strategic changes. As a consequence of these actions, the Company incurs severance related costs which are referred to as business realignment charges. ​ Business realignment charges by reportable segment were as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | Three months ended | ​ | ​ | Nine months ended
​ | ​ | ​ | September 30, | ​ | ​ | September 30,
​ |  | 2019 |  | 2018 | ​ | 2019 |  | 2018
Control Devices (A) | ​ | $ | (37) | ​ | $ | 32 | ​ | $ | 512 | ​ | $ | 160
Electronics (B) | ​ | ​ | - | ​ | ​ | (80) | ​ | ​ | - | ​ | ​ | 215
PST (C) | ​ | ​ | - | ​ | ​ | 35 | ​ | ​ | - | ​ | ​ | 354
Unallocated Corporate (D) | ​ | ​ | 392 | ​ | ​ | - | ​ | ​ | 1,005 | ​ | ​ | -
Total business realignment charges | ​ | $ | 355 | ​ | $ | (13) | ​ | $ | 1,517 | ​ | $ | 729
​
(A) | Severance benefit for the three months ended September 30, 2019 related to COGS and D&D were $(27) and $(10), respectively. Severance costs for the nine months ended September 30, 2019 related to SG&A were $512. Severance costs for the nine months ended September 30, 2018 related to D&D were $128. Severance costs for the three and nine months ended September 30, 2018 related to SG&A were $32.
(B) | Severance costs (benefit) for the three and nine months ended September 30, 2018 related to SG&A were $(80) and $215, respectively.
(C) | Severance costs for the three and nine months ended September 30, 2018 related to SG&A were $19 and $312, respectively. Severance costs for the three and nine months ended September 30, 2018 related to COGS were $16 and $42, respectively.
(D) | Severance costs for the three and nine months ended September 30, 2019 related to SG&A were $392 and $1,005.
Business realignment charges classified by statement of operations line item were as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three months ended | ​ | ​ | Nine months ended
​ | ​ | September 30, | ​ | ​ | September 30,
​ |  | 2019 |  | 2018 | ​ | ​ | 2019 | ​ |  | 2018
Cost of goods sold | ​ | $ | (27) | ​ | $ | 16 | ​ | $ | - | ​ | $ | 42
Selling, general and administrative | ​ | ​ | 392 | ​ | ​ | (29) | ​ | ​ | 1,517 | ​ | ​ | 559
Design and development | ​ | ​ | (10) | ​ | ​ | - | ​ | ​ | - | ​ | ​ | 128
Total business realignment charges | ​ | $ | 355 | ​ | $ | (13) | ​ | $ | 1,517 | ​ | $ | 729
​

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -URI http://asc.fasb.org/topic&trid=2175745 + Details
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