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RESTRUCTURING CHARGE

9 Months Ended

Sep. 30, 2024

Restructuring and Related Activities [Abstract]

RESTRUCTURING CHARGE

RESTRUCTURING CHARGE

During the three and nine months ended September 30, 2024, the Company recognized restructuring charges of $116 and $925, respectively, primarily related to reorganization and consolidation activities in the Communications segment and Consumer Products segment, which consisted of reductions in workforce.

During the three and nine months ended September 30, 2023, the Company recognized restructuring charges of $228 and $949, respectively, primarily related to reorganization and consolidation activities in the Wealth Management segment, Communications segment, and Consumer Products segment, which consisted of reductions in workforce and facility closures.

The following tables summarize the changes in accrued restructuring charge during the three and nine months ended September 30, 2024 and 2023:

			Three Months Ended September 30,												Nine Months Ended September 30,
			2024						2023						2024						2023
Balance, beginning of period			$	1,047					$	1,792					$	2,542					$	2,335
Restructuring charge			116						228						925						949
Cash paid			68						(453)						(2,189)						(1,820)
Non-cash items			(447)						61						(494)						164
Balance, end of period			$	784					$	1,628					$	784					$	1,628

The following table summarizes the restructuring activities by reportable segment during the three months ended September 30, 2024 and 2023.

			Wealth Management						Communications						Consumer Products						Total
Restructuring charges for the three months ended September 30, 2024:
Employee termination			$	—					$	116					$	—					$	116
Total restructuring charge			$	—					$	116					$	—					$	116
Restructuring charges for the three months ended September 30, 2023:
Employee termination			$	—					$	145					$	83					$	228
Facility closure and consolidation			—						—						—						—
Total restructuring charge			$	—					$	145					$	83					$	228

The following table summarizes the restructuring activities by reportable segment during the nine months ended September 30, 2024 and 2023.

			Wealth Management						Communications						Consumer Products						Total
Restructuring charges for the nine months ended September 30, 2024:
Employee termination			$	—					$	379					$	546					$	925
Total restructuring charge			$	—					$	379					$	546					$	925
Restructuring charges for the nine months ended September 30, 2023:
Employee termination			$	—					$	402					$	486					$	888
Facility closure and consolidation			61						—						—						61
Total restructuring charge			$	61					$	402					$	486					$	949

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- References

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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

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