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Business Realignment and Restructuring (Tables)

3 Months Ended

Mar. 31, 2023

Restructuring and Related Activities [Abstract]

Schedule of Restructuring and Related Costs

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						Utilization												Accrual as of March 31, 2022
															Cash						Non-Cash
Employee termination benefits			35						—						(35)						—						—
Total			$	35					$	—					$	(35)					$	—					$	—

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						Utilization												Accrual as of March 31, 2022
															Cash						Non-Cash
Employee termination benefits			$	93					$	—					$	(93)					$	—					$	—
Total			$	93					$	—					$	(93)					$	—					$	—

Business realignment charges incurred by reportable segment were as follows:

			Three months ended March 31,
			2023						2022
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.

Schedule of Business Realignment Charges Classified by Statement of Operations

Business realignment charges incurred, classified by statement of operations line item were as follows:

			Three months ended March 31,
			2023						2022
Cost of goods sold			$	175					$	—
Selling, general and administrative			1,087						34
Total business realignment charges			$	1,262					$	34

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- Definition

Tabular disclosure of costs incurred for restructuring including, but not limited to, exit and disposal activities, remediation, implementation, integration, asset impairment, and charges against earnings from the write-down of assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 5.P.3)
-URI https://asc.fasb.org/extlink&oid=115931487&loc=d3e140864-122747

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section S99
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-Subparagraph (SAB TOPIC 5.P.4)
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- Definition

Tabular disclosure of an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost. This element may also include a description of any reversal and other adjustment made during the period to the amount of an accrued liability for restructuring activities. This element may be used to encapsulate the roll forward presentations of an entity's restructuring reserve by type of cost and in total, and explanation of changes that occurred in the period.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-URI https://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 5.P.4(b)(2))
-URI https://asc.fasb.org/extlink&oid=115931487&loc=d3e140904-122747

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