Severance Charge

6 Months Ended

Jun. 30, 2018

Restructuring and Related Activities [Abstract]

Severance Charge

10. Severance Charge

In May 2018, the Company’s management authorized the closure of its Granite Power Technologies, Inc. (“GPT”) subsidiary, of the Brick Business Unit (“BBU”) segment, by the end of 2018. GPT, located in Manchester, N.H., is one of three Vicor Custom Power (“VCP”) entities. Certain of GPT’s products will continue to be manufactured and sold by the two remaining VCP entities. As a result, the Company recorded a pre-tax charge of $350,000 in the second quarter of 2018, for the cost of severance and other employee-related costs involving cash payments based on each employee’s respective length of service. This was recorded as “Severance charge” in the Condensed Consolidated Statement of Operations. The related liability is presented as “Accrued severance charge” in the Condensed Consolidated Balance Sheets.