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Business Realignment and Restructuring (Tables)

9 Months Ended

Sep. 30, 2023

Restructuring and Related Activities [Abstract]

Schedule of Restructuring and Related Costs

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 September 30, 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 September 30,												Nine months ended September 30,
			2023						2022						2023						2022
Control Devices (A)			$	132					$	—					$	511					$	—
Electronics (B)			1,070						—						2,726						—
Stoneridge Brazil (C)			—						64						—						98
Unallocated Corporate (D)			—						190						1,137						190
Total business realignment charges			$	1,202					$	254					$	4,374					$	288

_____________________________________

(A) Severance costs for the three months ended September 30, 2023 related to SG&A were $132. Severance costs for the nine months ended September 30, 2023 related to COGS and SG&A were $369 and $142, respectively.

(B) Severance costs for the three months ended September 30, 2023 related to COGS, SG&A and D&D were $30, $657 and $383, respectively. Severance costs for the nine months ended September 30, 2023 related to COGS, SG&A and D&D were $287, $2,056 and $383, respectively.

(C) Severance costs for the three and nine months ended September 30, 2022 related to SG&A were $64 and $98, respectively.

(D) Employee separation related costs for the three and nine months ended September 30, 2023 related to SG&A were $0 and $1,122, respectively. Employee separation related costs for the nine months ended September 30, 2023 related to D&D were $15. Severance costs for both the three and nine months ended September 30, 2022 related to SG&A were $190.

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 September 30,												Nine months ended September 30,
			2023						2022						2023						2022
Cost of goods sold			$	30					$	—					$	656					$	—
Selling, general and administrative			789						254						3,320						288
Design and development			383						—						398						—
Total business realignment charges			$	1,202					$	254					$	4,374					$	288

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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.

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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.

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