XML 35 R23.htm IDEA: XBRL DOCUMENT v3.22.1
Exit of Russian Operations
3 Months Ended
Mar. 31, 2022
Restructuring and Related Activities [Abstract]  
Exit of Russian Operations

NOTE O – EXIT OF RUSSIAN OPERATIONS

Due to the ongoing conflict in Ukraine and overt hostilities shown by Russia in the conflict, the Company determined to exit its Russian operations in March 2022, at which time exit activities began. The Russia operations did not have a material impact to the consolidated financial statements with net sales of $0.1 million and $0.2 million for the three-month periods ending March 31, 2022 and 2021, respectively, and annual sales of $1.0 million for the 2021 fiscal year. As a result of the decision to exit operations, net charges of approximately $1.0 million were recorded for the three-month period ended March 31, 2022, mainly as a result of asset impairments and one-time termination benefits. These impacts were included in Cost of products sold, General and administrative expense, or Other income - net, as appropriate. In Business Segment Information, these charges are recorded in the EMEA segment. The Company does not expect future charges incurred to be material.