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Restructuring and Business Realignment
 12 Months Ended
Dec. 31, 2023
Restructuring and Related Activities [Abstract]  
Restructuring and Business Realignment Restructuring and Business Realignment
On May 19, 2020, the Company committed to the strategic exit of its Control Devices particulate matter sensor product line ("PM Sensor Exit"). 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. Refer to Note 2 of the consolidated financial statements for additional details regarding this sale.
As a result of the PM Sensor Exit, the Company recognized expense of $2,360 for the year ended December 31, 2021, for non-cash fixed asset charges, including impairment and accelerated depreciation of PM sensor related fixed assets, employee severance and termination costs and other related costs including supplier settlements. For the year ended December 31, 2021 restructuring related costs of $1,510, $642 and $208 were recognized in COGS, SG&A and D&D, respectively.
The expenses for the PM Sensor Exit that relate to the Control Devices reportable segment include the following:
Utilization
Accrual as of January 1, 20222022 Charge
to Expense		CashNon-CashAccrual as of December 31, 2022
Employee termination benefits$35 $— $(35)$— $— 
Other related costs— — — — — 
Total$35 $— $(35)$— $— 
Utilization
Accrual as of January 1, 20212021 Charge
to Expense		CashNon-CashAccrual as of December 31, 2021
Fixed asset impairment and accelerated depreciation$— $188 $— $(188)$— 
Employee termination benefits— 139 (104)— 35 
Other related costs— 2,033 (2,033)— — 
Total$— $2,360 $(2,137)$(188)$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.
As a result of the Canton Restructuring actions, the Company recognized expense of $13 for the year ended December 31, 2021, for employee severance and termination costs and other restructuring related costs. For the year ended December 31, 2021 severance and other restructuring related costs of $13 were recognized in D&D in the consolidated statement of operations. Refer to Note 2 to the consolidated financial statements for additional details regarding the sale of the Canton Facility.
The expenses for the Canton Restructuring that relate to the Control Devices reportable segment include the following:
Utilization
Accrual as of January 1, 20222022 Charge
to Expense		CashNon-CashAccrual as of December 31, 2022
Employee termination benefits$93 $— $(93)$— $— 
Other related costs— — — — — 
Total$93 $— $(93)$— $— 
Utilization
Accrual as of January 1, 20212021 Charge
to Expense		CashNon-CashAccrual as of December 31, 2021
Employee termination benefits$165 $— $(72)$— $93 
Other related costs— 13 (13)— — 
Total$165 $13 $(85)$— $93 
In the fourth quarter of 2018, the Company undertook restructuring actions for the Electronics segment affecting the European Aftermarket business and China operations. In the second quarter of 2020, the Company finalized plans to move its European Aftermarket sales activities in Dundee, Scotland to a new location which resulted in incurring contract termination costs as well as employee severance and termination costs. In addition, the Company announced a restructuring program to transfer the European production of its controls product line to China. As a result of these actions, the Company recognized expense of $290 for the year ended December 31, 2021 for employee severance and termination costs and other related costs. Electronics segment restructuring costs recognized in COGS, SG&A and D&D in the consolidated statement of operations for the year ended December 31, 2021 were $37, $210 and $43, respectively.
The expenses for the restructuring activities that relate to the Electronics reportable segment include the following:
Utilization
Accrual as of January 1, 20212021 Charge
to Expense		CashNon-CashAccrual as of December 31, 2021
Employee termination benefits$227 $50 $(277)$— $— 
Other related costs— 240 (240)— — 
Total$227 $290 $(517)$— $— 
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 31,202320222021
Control Devices (A)
$511 $— $192 
Electronics (B)
2,862 — 3 
Stoneridge Brazil (C)
— 98 59 
Unallocated Corporate (D)
1,137 190 1,138 
Total business realignment charges$4,510 $288 $1,392 
_____________________________
(A)Severance costs for the year ended December 31, 2023 related to COGS and SG&A were $369 and $142, respectively. Severance costs for the year ended December 31, 2021 related to SG&A were $192.
(B)Severance costs for the year ended December 31, 2023 related to COGS, SG&A and D&D were $423, $2,057 and $382, respectively. Severance costs (benefit) for the year ended December 31, 2021 related to COGS, SG&A and D&D were $1, $(7) and $9 respectively.
(C)Severance costs for the year ended December 31, 2022 related to SG&A were $98. Severance costs for the year ended December 31, 2021 related to COGS and SG&A were $7 and $52, respectively.
(D)Employee separation related costs for the year ended December 31, 2023 related to SG&A and D&D were $1,122 and $15, respectively. Severance costs for the years ended December 31, 2022 and 2021 related to SG&A were $190 and $1,138, respectively.
Business realignment charges classified by statement of operations line item were as follows:
Year ended December 31,202320222021
Cost of goods sold$792 $— $8 
Selling, general and administrative3,321 288 1,375 
Design and development397 — 9 
Total business realignment charges$4,510 $288 $1,392