XML 27 R15.htm IDEA: XBRL DOCUMENT v3.21.2
Restructuring, Impairment and Other Charges
 6 Months Ended
Jun. 26, 2021
Restructuring and Related Activities [Abstract]  
Restructuring, Impairment and Other Charges Restructuring, Impairment, and Other Charges
The Company recorded restructuring, impairment and other charges for the three and six months ended June 26, 2021 and June 27, 2020 as follows:
Three months ended June 26, 2021Six months ended June 26, 2021
(in thousands)ElectronicsAutomotiveIndustrialTotalElectronicsAutomotiveIndustrialTotal
Employee terminations$295 $416 $6 $717 $552 $416 $169 $1,137 
Other restructuring charges— 72 — 72 — 89 — 89 
Total restructuring charges295 488 6 789 552 505 169 1,226 
   Total$295 $488 $6 $789 $552 $505 $169 $1,226 

 Three months ended June 27, 2020Six months ended June 27, 2020
(in thousands)ElectronicsAutomotiveIndustrialTotalElectronicsAutomotiveIndustrialTotal
Employee terminations$856 $209 $750 $1,815 $1,737 $608 $1,071 $3,416 
Other restructuring charges(1)(12)22 9 — 108 25 133 
Total restructuring charges855 197 772 1,824 1,737 716 1,096 3,549 
Impairment — 33,841 — 33,841 — 33,841 2,237 36,078 
   Total$855 $34,038 $772 $35,665 $1,737 $34,557 $3,333 $39,627 


2021
For the three and six months ended June 26, 2021, the Company recorded total restructuring charges of $0.8 million and $1.2 million, primarily for employee termination costs. These charges are primarily related to the reorganization of certain manufacturing, selling and administrative functions within the Automotive and Electronics segments.

2020
For the three and six months ended June 27, 2020, the Company recorded total restructuring charges of $1.8 million and $3.5 million, respectively, for employee termination costs and other restructuring charges. These charges are primarily related to the reorganization of certain manufacturing, selling and administrative functions across all segments and the announced consolidation of a manufacturing facility within the Industrial segment. The Company also recognized $33.8 million and $36.1 million of impairment charges for the three and six months ended June 27, 2020, respectively, which included a $33.8 million goodwill impairment charge associated with the automotive sensors reporting unit within the Automotive segment in the second quarter of 2020 and $2.2 million related to the land and building associated with the Company’s previously announced consolidation of a manufacturing facility within the Industrial segment in the first quarter of 2020. The impairment charges of the land and building were included in selling, genera,l and administrative expenses. See Note 5, Goodwill and Other Intangible Assets for further discussion regarding the goodwill impairment charge.

The restructuring liability as of June 26, 2021 and December 26, 2020 is $2.9 million and $4.2 million, respectively. The current portion of the total restructuring liability included within accrued liabilities is $1.1 million while the long-term balance of $1.8 million was included within other long-term liabilities, respectively, in the Condensed Consolidated Balance Sheets as of June 26, 2021. The Company anticipates the remaining payments associated with employee terminations will primarily be completed by the third quarter of 2022.