XML 50 R34.htm IDEA: XBRL DOCUMENT v3.24.0.1
Restructuring and Business Realignment (Tables)
12 Months Ended
Dec. 31, 2023
Restructuring Cost and Reserve [Line Items]  
Schedule of Restructuring and Related Costs
Business realignment charges by reportable segment were as follows:
Year ended December 31,202320222021
Control Devices (A)
$511 $— $192 
Electronics (B)
2,862 — 
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.
Schedule of Business Realignment Charges Classified by Statement of Operations
Business realignment charges classified by statement of operations line item were as follows:
Year ended December 31,202320222021
Cost of goods sold$792 $— $
Selling, general and administrative3,321 288 1,375 
Design and development397 — 
Total business realignment charges$4,510 $288 $1,392 
Control Devices | PM Sensor Exit  
Restructuring Cost and Reserve [Line Items]  
Schedule of Restructuring and Related Costs
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 
Control Devices | Canton Facility Restructuring Plan  
Restructuring Cost and Reserve [Line Items]  
Schedule of Restructuring and Related Costs
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 
Electronics  
Restructuring Cost and Reserve [Line Items]  
Schedule of Restructuring and Related Costs
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 $(517)$— $—