Restructuring and Other Charges

6 Months Ended

Jun. 30, 2024

Restructuring Charges [Abstract]

Restructuring and Other Charges

Note 13. Restructuring and Other Charges

The Company accounts for its restructuring plans under the authoritative guidance for exit or disposal activities. The Company includes expenses related to restructuring and other charges in Other operating expenses (income), net in the condensed consolidated statements of operations. Accrued restructuring and other charges are classified within Accrued employee compensation and Other accrued liabilities on the condensed consolidated balance sheets.

Restructuring and other charges recognized in the three and six months ended June 30, 2024 and July 2, 2023, respectively, were primarily for severance, and other costs in relation to the reorganization of our business to better align the cost structure of the business with the areas to deliver long-term growth and expanding profitability or projected revenue levels. The liabilities as of June 30, 2024 are expected to be settled in 2024.

The following table provides a summary of the activity related to accrued restructuring and other charges:

(In thousands)	Accrued Restructuring and Other Charges at December 31, 2023		Additions		Cash Payments			Adjustments			Accrued Restructuring and Other Charges at June 30, 2024
Restructuring
Employee termination charges	$	257	$	2,504	$	(2,139	)	$	—		$	622
Lease contract termination and other charges		30		216		(86	)		(160	)		—
Total Restructuring and other charges	$	287	$	2,720	$	(2,225	)	$	(160	)	$	622

(In thousands)	Accrued Restructuring and Other Charges at December 31, 2022		Additions		Cash Payments			Adjustments			Accrued Restructuring and Other Charges at July 2, 2023
Restructuring
Employee termination charges	$	1,912	$	2,396	$	(3,505	)	$	(37	)	$	766
Lease contract termination and other charges		—		7		—			—			7
Total Restructuring and other charges	$	1,912	$	2,403	$	(3,505	)	$	(37	)	$	773