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Note 6 - Restructuring and Other Exit Costs | 12 Months Ended
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Dec. 31, 2023
Notes to Financial Statements |
Restructuring and Related Activities Disclosure [Text Block] |
6. | Restructuring and Other Exit Costs
On an ongoing basis, the Company reviews the global economy, the healthcare industry, and the markets in which it competes to identify operational efficiencies, enhance commercial capabilities and align its cost base and infrastructure with customer needs and its strategic plans. In order to realize these opportunities, the Company undertakes activities from time to time to transform its business. A portion of these transformation activities are considered restructuring costs under ASC 420, Exit or Disposal Cost Obligations, and are discussed below. During the year ended December 31, 2022, the Company reviewed its product portfolio and identified certain non-strategic products for discontinuation and incurred severance expenses in connection with headcount reductions in Europe and North America. The following table summarizes the restructuring activity for the years ended December 31, 2023 and 2022:
(in thousands) |  | Inventory Related |  |  | Severance |  |  | Other |  |  | Total |
Balance at December 31, 2021 |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |
Restructuring and other exit costs |  |  | 1,471 |  |  |  | 877 |  |  |  | 46 |  |  |  | 2,394 |
Non-cash charges |  |  | (1,471 | ) |  |  | - |  |  |  | - |  |  |  | (1,471 | )
Cash payments |  |  | - |  |  |  | (241 | ) |  |  | (46 | ) |  |  | (287 | )
Balance at December 31, 2022 |  |  | - |  |  |  | 636 |  |  |  | - |  |  |  | 636 |
Restructuring and other exit costs |  |  | 320 |  |  |  | 42 |  |  |  | 29 |  |  |  | 391 |
Non-cash charges |  |  | (142 | ) |  |  | - |  |  |  | - |  |  |  | (142 | )
Cash payments |  |  | (94 | ) |  |  | (678 | ) |  |  | (29 | ) |  |  | (801 | )
Balance at December 31, 2023 |  | $ | 84 |  |  | $ | - |  |  | $ | - |  |  | $ | 84 |
Substantially all of the severance and other costs detailed above have been included as a component of general and administrative expenses, and all inventory-related charges are included in cost of revenues.

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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 50 -Paragraph 1 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482017/420-10-50-1 Reference 2: 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 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//420/tableOfContent Reference 4: 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 Reference 5: 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 + Details
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