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Business Realignment and Restructuring
 3 Months Ended
Mar. 31, 2023
Restructuring and Related Activities [Abstract]  
Business Realignment and Restructuring Business Realignment and Restructuring
On May 19, 2020, the Company committed to the strategic exit of its Control Devices particulate matter (“PM”) sensor product line. The decision to exit the PM sensor product line was made after consideration of the decline in the market outlook for diesel passenger vehicles, the current and expected profitability of the product line and the Company’s strategic focus on aligning resources with the greatest opportunities. In conjunction with the strategic exit of the PM sensor product line, the Company entered into an asset purchase agreement related to the sale of the PM sensor product line during the first quarter of 2021.
The only remaining costs relate to potential commercial settlements and legal fees which we continue to negotiate. The estimated range of additional cost related to these settlements and fees is up to $4,200.
The settlement of liabilities associated with the exit of the PM sensor line that relate to the Control Devices reportable segment include the following:
Accrual as of
January 1, 2022		2022 Charge
to Expense		UtilizationAccrual as of
March 31, 2022
CashNon-Cash
Employee termination benefits35 — (35)— — 
Total$35 $— $(35)$— $— 
On January 10, 2019, the Company committed to a restructuring plan that resulted in the closure of the Canton, Massachusetts facility (“Canton Facility”) on March 31, 2020 and the consolidation of manufacturing operations at that site into other Company locations (“Canton Restructuring”). The costs for the Canton Restructuring included 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. We do not expect to incur additional costs related to the Canton Restructuring.
The settlement of liabilities associated with for the Canton Restructuring that relate to the Control Devices reportable segment include the following:
Accrual as of
January 1, 2022		2022 Charge
to Expense		UtilizationAccrual as of
March 31, 2022
CashNon-Cash
Employee termination benefits$93 $— $(93)$— $— 
Total$93 $— $(93)$— $— 
In addition to 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 that are referred to as business realignment charges.
Business realignment charges incurred by reportable segment were as follows:
Three months ended
March 31,
20232022
Electronics (A)
309 — 
Stoneridge Brazil (B)
— 34 
Unallocated Corporate (C)
953 — 
Total business realignment charges$1,262 $34 
_____________________________________
(A)
Severance costs for the three months ended March 31, 2023 related to COGS and SG&A were $175 and $134, respectively.
(B)
Severance costs for the three months ended March 31, 2022 related to SG&A were $34.
(C)
Employee separation related costs for the three months ended March 31, 2023 related to SG&A were $953.
Business realignment charges incurred, classified by statement of operations line item were as follows:
Three months ended
March 31,
20232022
Cost of goods sold$175 $— 
Selling, general and administrative1,087 34 
Total business realignment charges$1,262 $34