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Restructuring and Business Realignment | 12 Months Ended
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Dec. 31, 2019
Business Realignment and Restructuring [Abstract] |
Restructuring and Business Realignment | 13. Restructuring and Business Realignment 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 such as moving and set-up costs for equipment and costs to restore the engineering function previously located at the Canton Facility. The Company recognized expense of $12,530 for the year ended December 31, 2019 as a result of these actions for employee termination benefits and other restructuring related costs. For the year ended December 31, 2019 severance and other related restructuring costs of $7,625, $1,526 and $3,379 were recognized in COGS, SG&A and D&D, respectively, in the consolidated statement of operations. The estimated additional cost of the Canton Facility restructuring plan, that will impact the Control Devices segment, is between $1,500 and $1,900 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 | ​ | December 31, 2019
Employee termination benefits | ​ | $ | - | ​ | $ | 8,088 | ​ | $ | (5,452) | ​ | $ | - | ​ | $ | 2,636
Other related costs | ​ | ​ | - | ​ | ​ | 4,442 | ​ | ​ | (4,442) | ​ | ​ | - | ​ | ​ | -
Total | ​ | $ | - | ​ | $ | 12,530 | ​ | $ | (9,894) | ​ | $ | - | ​ | $ | 2,636
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ In the fourth quarter of 2018, we undertook restructuring actions for our Electronics segment affecting our European Aftermarket business and China operations. The Company recognized expense of $603 and $3,539, respectively, for the years ended December 31, 2019 and 2018 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 recorded in SG&A in the consolidated statements of operations for the year ended December 31, 2019. Excess and obsolete inventory write-offs of $823 were recognized in COGS for the year ended December 31, 2018 and all other restructuring costs were recognized in SG&A in the consolidated statement of operations. The Company expects to incur approximately $400 of additional restructuring costs related to the 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 | ​ | December 31, 2019
Employee termination benefits | ​ | $ | 520 | ​ | $ | (18) | ​ | $ | (453) | ​ | $ | 3 | ​ | $ | 52
Accelerated depreciation | ​ | ​ | - | ​ | ​ | 289 | ​ | ​ | - | ​ | ​ | (289) | ​ | ​ | -
Contract termination costs | ​ | ​ | 17 | ​ | ​ | 9 | ​ | ​ | (26) | ​ | ​ | - | ​ | ​ | -
Other related costs | ​ | ​ | 119 | ​ | ​ | 323 | ​ | ​ | (442) | ​ | ​ | - | ​ | ​ | -
Total | ​ | $ | 656 | ​ | $ | 603 | ​ | $ | (921) | ​ | $ | (286) | ​ | $ | 52
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ The expenses for the 2018 restructuring activities that relate to the Electronics reportable segment include the following:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Accrual as of | ​ | 2018 Charge to | ​ | ​ | Utilization | ​ | Accrual as of
​ | ​ | January 1, 2018 | ​ | Expense | ​ | Cash | ​ | Non-Cash | ​ | December 31, 2018
Employee termination benefits | ​ | $ | - | ​ | $ | 1,939 | ​ | $ | (1,419) | ​ | $ | - | ​ | $ | 520
Excess and obsolete inventory | ​ | ​ | - | ​ | ​ | 823 | ​ | ​ | - | ​ | ​ | (823) | ​ | ​ | -
Intangible impairment | ​ | ​ | - | ​ | ​ | 200 | ​ | ​ | - | ​ | ​ | (200) | ​ | ​ | -
Fixed asset impairment | ​ | ​ | - | ​ | ​ | 157 | ​ | ​ | - | ​ | ​ | (157) | ​ | ​ | -
Contract termination costs | ​ | ​ | - | ​ | ​ | 156 | ​ | ​ | (139) | ​ | ​ | - | ​ | ​ | 17
Other related costs | ​ | ​ | - | ​ | ​ | 264 | ​ | ​ | (145) | ​ | ​ | - | ​ | ​ | 119
Total | ​ | $ | - | ​ | $ | 3,539 | ​ | $ | (1,703) | ​ | $ | (1,180) | ​ | $ | 656
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ 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: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Year ended December 31 | ​ | 2019 |  | 2018 |  | 2017
Control Devices (A) | ​ | $ | 682 | ​ | $ | 169 | ​ | $ | -
Electronics (B) | ​ | ​ | 99 | ​ | ​ | 63 | ​ | ​ | 1,223
Stoneridge Brazil (C) | ​ | ​ | - | ​ | ​ | 478 | ​ | ​ | 589
Unallocated Corporate (D) | ​ | ​ | 1,048 | ​ | ​ | - | ​ | ​ | -
Total business realignment charges | ​ | $ | 1,829 | ​ | $ | 710 | ​ | $ | 1,812
(A) | Business realignment severance costs for the year ended December 31, 2019 related to SG&A were $682. Business realignment severance costs for the year ended December 31, 2018 related to D&D and SG&A were $128 and $41, respectively.
(B) | Business realignment severance costs for the year ended December 31, 2019 related to SG&A were $99. Business realignment severance costs for the year ended December 31, 2018 related to SG&A were $63. Business realignment severance costs for the year ended December 31, 2017 related to COGS and SG&A were $56 and $1,167, respectively.
(C) | B usiness realignment severance costs for the year ended December 31, 2018 related to COGS, SG&A and D&D were $63, $387 and $28, respectively. Business realignment severance costs for the year ended December 31, 2017 related to COGS, SG&A and D&D were $370, $218 and $1, respectively.
(D) | Business realignment severance costs for the year ended December 31, 2019 related to SG&A were $1,048.
Business realignment charges classified by statement of operations line item were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Year ended December 31 | ​ | ​ | 2019 | ​ |  | 2018 | ​ |  | 2017
Cost of goods sold | ​ | $ | - | ​ | $ | 63 | ​ | $ | 426
Selling, general and administrative | ​ | ​ | 1,829 | ​ | ​ | 491 | ​ | ​ | 1,385
Design and development | ​ | ​ | - | ​ | ​ | 156 | ​ | ​ | 1
Total business realignment charges | ​ | $ | 1,829 | ​ | $ | 710 | ​ | $ | 1,812
​

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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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