The Company has undertaken initiatives to restructure its business operations to improve utilization and realize cost savings. These initiatives have included changing the number and location of production facilities, largely to align capacity and infrastructure with current and anticipated customer demand. This alignment includes transferring programs from higher cost geographies to lower cost geographies. The Company's restructuring process entails moving production between facilities, reducing staff levels, realigning business processes, reorganizing management and other activities.

During 2023, 2022 and 2021, the Company recognized $7.3 million, $5.7 million and $9.3 million of restructuring charges primarily related to the previously announced closures of its sites in San Jose, California, Angleton, Texas, and Moorpark, California in the Americas, and other smaller activities involving capacity reductions and reductions in workforce in certain facilities across various regions. San Jose, California operations ceased, and all restructuring activity was complete as of March 31, 2022. Angleton, Texas operations ceased, and all restructuring activity was complete as of June 30, 2022 upon the disposition of the facility. Moorpark, California operations ceased as of March 31, 2023 with restructuring activity substantially complete by the end 2023. Accrued restructuring costs are included in accrued liabilities on the consolidated balance sheet.

The following table summarizes the 2023 activity in accrued restructuring costs:


(in thousands)	Balances as of December 31, 2022		Restructuring Charges		Cash Payments			Non-Cash Activity		Balances as of December 31, 2023
Severance	$	3,683	$	4,508	$	(8,156	)	$	—	$	35
Lease facility costs		17		176		(184	)		—		9
Other exit costs		81		2,643		(2,643	)		—		81
Total accrued restructuring costs	$	3,781	$	7,327	$	(10,983	)	$	—	$	125

The components of restructuring charges during 2023 were as follows:


	Year Ended December 31, 2023
(in thousands)	Americas		Asia		Europe		Total
Severance costs	$	4,226	$	—	$	282	$	4,508
Lease facility costs		176		—		—		176
Other exit costs		2,640		—		3		2,643
Total restructuring charges	$	7,042	$	—	$	285	$	7,327

The following table summarizes the 2022 activity in accrued restructuring costs:


(in thousands)	Balances as of December 31, 2021		Restructuring Charges		Cash Payments			Non-Cash Activity			Balances as of December 31, 2022
Severance	$	3,257	$	2,428	$	(1,713	)	$	(289	)	$	3,683
Lease facility costs		17		1,261		(1,261	)		—			17
Other exit costs		237		2,021		(2,056	)		(121	)		81
Total accrued restructuring costs	$	3,511	$	5,710	$	(5,030	)	$	(410	)	$	3,781

The components of restructuring charges during 2022 were as follows:


	Year Ended December 31, 2022
(in thousands)	Americas		Asia		Europe		Total
Severance costs	$	2,298	$	130	$	—	$	2,428
Lease facility costs		1,261		—		—		1,261
Other exit costs		2,021		—		—		2,021
Total restructuring charges	$	5,580	$	130	$	—	$	5,710

The following table summarizes the 2021 activity in accrued restructuring costs:


(in thousands)	Balances as of December 31, 2020		Restructuring Charges		Cash Payments			Non-Cash Activity			Balances as of December 31, 2021
Severance	$	3,996	$	4,130	$	(4,685	)	$	(184	)	$	3,257
Lease facility costs		50		2,745		(2,618	)		(160	)		17
Other exit costs		408		2,470		(2,252	)		(389	)		237
Total accrued restructuring costs	$	4,454	$	9,345	$	(9,555	)	$	(733	)	$	3,511

The components of restructuring charges during 2021 were as follows:


	Year Ended December 31, 2021
(in thousands)	Americas		Asia		Europe		Total
Severance costs	$	4,084	$	46	$	—	$	4,130
Lease facility costs		2,581		164		—		2,745
Other exit costs		2,470		—		—		2,470
Total restructuring charges	$	9,135	$	210	$	—	$	9,345

During 2023, the Company made the decision to no longer continue certain manufacturing capabilities in the Americas. In connection with that decision, the Company assessed the facility and equipment assets used in those manufacturing capabilities and recorded $1.1 million of impairment charges as a result of that assessment. The asset impairment charges are included in restructuring charges and other costs in the consolidated statement of income for 2023.

During 2021, the Company made the decision to no longer continue certain manufacturing capabilities in the Americas. In connection with that decision, the Company assessed the facility and equipment assets used in those manufacturing capabilities using valuation information from third parties and recorded $4.4 million of impairment charges as a result of that assessment. The asset impairment charges are included in restructuring charges and other costs in the consolidated statements of income for 2021. During 2022, the Company completed the sale of the related equipment for $1.3 million and recorded a loss on assets held for sale of $2.0 million, which is included in restructuring charges and other costs in the consolidated statement of income. Additionally, during 2022, the Company completed the sale of a building in Angleton, Texas for $4.3 million and recorded a gain on assets held for sale of $2.4 million which is also included in restructuring charges and other costs. Furthermore, during 2022, the Company agreed to $3.3 million in legal settlements that are included in restructuring charges and other costs.