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RESTRUCTURING CHARGE | 12 Months Ended
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Dec. 31, 2024
Restructuring and Related Activities [Abstract] |
RESTRUCTURING CHARGE | RESTRUCTURING CHARGE The Company recorded restructuring charges in the amount of $1,522, $2,131, and $9,011 during the years ended December 31, 2024, 2023, and 2022, respectively. The restructuring charges during the year ended December 31, 2024 were primarily related to reorganization and consolidation activities in the Communications segment and Consumer Products segment, which consisted of reductions in workforce. The restructuring charges during the year ended December 31, 2023 were primarily related to reorganization and consolidation activities in the Wealth Management segment, Communications segment, and Consumer Products segment. Reorganization and consolidation activities consisted of reductions in workforce and facility closures. The following tables summarize the changes in accrued restructuring charge during the years ended December 31, 2024, 2023, and 2022:
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Balance, beginning of year | $ | 2,540 |  |  | $ | 2,335 |  |  | $ | 624 |
Restructuring charge | 1,522 |  |  | 2,131 |  |  | 9,011 |
Cash paid | (2,158) |  |  | (2,253) |  |  | (2,712) |
Non-cash items | (588) |  |  | 327 |  |  | (4,588) |
Balance, end of year | $ | 1,316 |  |  | $ | 2,540 |  |  | $ | 2,335 |
The following table summarizes the restructuring activities by reportable segment during the years ended December 31, 2024, 2023, and 2022:
| Wealth Management |  | Communications |  |  |  |  |  | Consumer Products |  | Total
Restructuring charges for the year ended December 31, 2024: |  |  |  |  |  |  |  |  |  |  |
Employee termination costs | $ | — |  |  | $ | 379 |  |  |  |  |  |  | $ | 1,143 |  |  | $ | 1,522 |
Total restructuring charge | $ | — |  |  | $ | 379 |  |  |  |  |  |  | $ | 1,143 |  |  | $ | 1,522 |
Restructuring charges for the year ended December 31, 2023: |  |  |  |  |  |  |  |  |  |  |
Employee termination costs | $ | — |  |  | $ | 1,540 |  |  |  |  |  |  | $ | 530 |  |  | $ | 2,070 |
Facility closure and consolidation charge | 61 |  |  | — |  |  |  |  |  |  | — |  |  | 61 |
Total restructuring charge | $ | 61 |  |  | $ | 1,540 |  |  |  |  |  |  | $ | 530 |  |  | $ | 2,131 |
Restructuring charges for the year ended December 31, 2022: |  |  |  |  |  |  |  |  |  |  |
Employee termination costs | $ | 1,150 |  |  | $ | 1,054 |  |  |  |  |  |  | $ | — |  |  | $ | 2,204 |
Impairment of intangibles | 2,012 |  |  | 2,162 |  |  |  |  |  |  | — |  |  | 4,174 |
Facility closure and consolidation charge | 1,792 |  |  | 841 |  |  |  |  |  |  | — |  |  | 2,633 |
Total restructuring charge | $ | 4,954 |  |  | $ | 4,057 |  |  |  |  |  |  | $ | — |  |  | $ | 9,011 |

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- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4.e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479823/420-10-S99-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/420/tableOfContent Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 + Details
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