XML 34 R22.htm IDEA: XBRL DOCUMENT v3.24.3
Note 15 - Restructuring and Other Exit Costs
 9 Months Ended
Sep. 30, 2024
Notes to Financial Statements  
Restructuring and Related Activities Disclosure [Text Block]

15.

Restructuring and Other Exit Costs

 

On an ongoing basis, the Company reviews the global economy, the life sciences 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 nine months ended September 30, 2024, the Company completed restructurings and incurred expenses of $0.6 million, primarily consisting of severance incurred in connection with headcount reductions in Europe and North America. The changes in the accrued liability for restructuring and other charges for the nine months ended September 30, 2024 were as follows:

 

(in thousands)

  

Inventory-Related

   

Severance

   

Total

 

Balance at December 31, 2023

   $ 84     $ -     $ 84  

Restructuring and other exit costs

     43       575       618  

Non-cash charges

     (27 )     -       (27 )

Cash payments

     (100 )     (470 )     (570 )

Balance at September 30, 2024

   $ -     $ 105     $ 105  

 

The inventory-related costs are included in cost of revenues and the severance costs have been included as a component of other operating expenses (see Note 1).