Restructuring Activities

12 Months Ended

Dec. 31, 2025

Restructuring and Related Activities [Abstract]

Summary of 2022 Restructuring Plan

In April 2022, management approved and commenced a restructuring plan that was intended to better position us for stronger performance. The restructuring plan mainly reduced headcount and consolidated facilities. As a result of this restructuring plan, we analyzed the need to write-down inventory and impair long-lived assets, including operating lease right-of-use assets. While we have completed the restructuring plan and recorded all incurred expenses as of December 31, 2025, we will be making payments related to such plan during 2026. During the year ended December 31, 2025, we recorded total charges of $2.2 million. Cumulative through the year ended December 31, 2025, we recorded total charges of $31.4 million.

In the Electronics Systems segment, we recorded charges of less than $0.1 million and $0.1 million during the year ended December 31, 2025, for severance and benefits that were classified as restructuring charges and other restructuring, respectively. Cumulative through the year ended December 31, 2025, we recorded total charges for severance and benefits that were classified as restructuring charges, accelerated depreciation of property and equipment that was classified as restructuring charges, charges for inventory write down that were classified as cost of sales, and other restructuring of $9.5 million, $0.3 million, $0.3 million, and $0.4 million, respectively.

In the Structural Systems segment, we recorded (credits) charges of $(0.3) million, and $2.4 million during the year ended December 31, 2025 for severance and benefits that were classified as restructuring charges and other restructuring charges, respectively. Cumulative through the year ended December 31, 2025, we recorded total charges for severance and benefits that were classified as restructuring charges, accelerated depreciation of property and equipment that was classified as restructuring charges, impairment of property and equipment that was classified as restructuring charges, charges for inventory write down that was classified as cost of sales, and other restructuring of $7.3 million, $1.7 million, $0.3 million, $1.8 million, and $9.8 million, respectively.

Our restructuring activities for 2025 were as follows (in thousands):


	December 31, 2024		2025								December 31, 2025
	Balance		Charges		Cash Payments		Non-Cash Payments		Change in Estimates		Balance
Severance and benefits	$	1,543	$	127	$	(867)	$	—	$	(398)	$	405




Other	389		2,508		(2,508)		—		—		389
Ending balance	$	1,932	$	2,635	$	(3,375)	$	—	$	(398)	$	794

The restructuring activities accrual for severance and benefits and other of $0.8 million as of December 31, 2025 was included as part of accrued and other liabilities and is expected to be paid during 2026.