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Restructuring
12 Months Ended
Dec. 31, 2024
Restructuring and Related Activities [Abstract]  
Restructuring

6. Restructuring

In August 2024, the Company announced the consolidation of its Atlantic, Iowa rotational molding facility into other rotational molding facilities to reduce the cost structure within the Material Handling segment. In December 2024, the Company reduced the scope of the consolidation to keep open its Atlantic, Iowa rotational molding facility as a result of increased demand for certain products produced in that facility. Total restructuring costs for these actions incurred were approximately $0.9 million during the year ended December 31, 2024, which includes inventory and other asset write downs, facility costs and employee severance, that were recorded within both Cost of sales and Selling, general and administrative. Accrued and unpaid restructuring expenses were not significant at December 31, 2024.

On May 29, 2024, the Company announced a restructuring plan to improve the Company’s organizational structure and operational efficiency within the Distribution Segment, which related primarily to planned facility consolidations and associated activities to simplify its distribution network and improve service by reducing complexity. Total restructuring costs incurred related to these actions during the year ended December 31, 2024, were approximately $1.4 million, which includes inventory write-downs, employee severance and other facility costs related to the consolidations, which were recorded within both Cost of sales and Selling, general and administrative. In January 2025, the Company announced an additional facility consolidation associated with this initiative. Accrued and unpaid restructuring expenses were not significant at December 31, 2024 and remaining costs to complete the consolidations are expected to be approximately $2.5 million, to be incurred through 2028 related primarily to idled lease facility and maintenance costs.

In conjunction with the Company's previously announced Ameri-Kart plan the Company incurred $2.3 million and $1.0 million of restructuring charges during the years ended December 31, 2024 and 2023, respectively, which were recorded within both Cost of sales and Selling, general and administrative. The Company also incurred $0.7 million of restructuring charges during the year ended December 31, 2022, which were recorded within Cost of sales and $0.3 million related to loss on disposal of fixed assets during the year ended December 31, 2022. On May 7, 2024, the Company entered into a termination agreement to exit the idled lease facility, in conjunction with the Ameri-Kart plan, for which the original lease extended through 2026 and a termination payment of $1.8 million was recorded to satisfy all remaining obligations under the original lease. The Ameri-Kart plan is now complete and there were no remaining accrued and unpaid restructuring expenses at December 31, 2024 or December 31, 2023.

Severance charges from other restructuring initiatives to reduce and streamline overhead costs during the years ended December 31, 2024 and 2023 totaled $2.9 million and $1.5 million, respectively, which were recorded within both Cost of Sales and Selling, general and administrative. No restructuring charges were accrued at December 31, 2024 or December 31, 2023.