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Restructuring and Related Activities

12 Months Ended

Dec. 31, 2024

Restructuring and Related Activities [Abstract]

Restructuring and Related Activities Disclosure

Plant Optimization Activities

During the second half of 2024, we took specific steps to consolidate our footprint by identifying two manufacturing facilities to close due to volume rationalization which will reduce costs and improve operational efficiency. In January 2025, we ceased production activities at our Mobile Solutions plant in Juarez, Mexico. We plan to stop production activity at our Mobile Solutions plant in Dowagiac, Michigan by the end of the first quarter of 2025. In addition, we implemented operational and cost optimization actions to reduce indirect and overhead costs. We expect the facility closures and organizational changes to be completed in the first half of 2025. We estimate incurring $13.6 million in charges which will be recognized in 2024 and 2025. Once fully implemented, we expect to recognize annual benefits of approximately $5.4 million. All costs incurred have been recognized in the Mobile Solutions segment.

The following is a summary of costs incurred and amounts accrued during the year ended December 31, 2024.

			Severance and employee related						Impairment of property and equipment						Costs associated with exit or disposal activities						Total
Balance as of December 31, 2023			$	—					$	—					$	—					$	—
Restructuring costs			3,267						6,546						2,787						12,600
Amounts paid			(581)						—						(257)						(838)
Charges against assets			—						(6,546)						(2,530)						(9,076)
Balance as of December 31, 2024			$	2,686					$	—					$	—					$	2,686

Of the $12.6 million incurred during the year ended December 31, 2024, $5.0 million are recognized in the “Cost of sales” line, $1.1 million in the “Selling, general, and administrative expense” line, and $6.5 million in the “Other expense (income), net” line in the Consolidated Statements of Operations and Comprehensive Income (Loss).

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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.

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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
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-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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