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Exit Activity Costs and Asset Impairments
 3 Months Ended
Mar. 31, 2021
Restructuring and Related Activities [Abstract]  
EXIT ACTIVITY COSTS AND ASSET IMPAIRMENTS EXIT ACTIVITY COSTS AND ASSET IMPAIRMENTSThe Company has incurred exit activity costs and asset impairment charges as a result of its 80/20 simplification and portfolio management initiatives. These initiatives have resulted in the identification of low-volume, low margin, internally-produced products which have been or will be outsourced or discontinued, the simplification of processes, the sale and exiting of less profitable businesses or product lines, and a reduction in our manufacturing footprint.
Exit activity costs were incurred during the three months ended March 31, 2021 which related to moving and closing costs, contract terminations, and severance, along with asset impairment charges related to the write-down of inventory and impairment of machinery and equipment associated with discontinued product lines, as a result of process simplification initiatives. In conjunction with these initiatives, the Company closed two facilities during the three months ended March 31, 2021. Exit activity costs were incurred from the above initiatives for the three months ended March 31, 2020. No facilities were closed as a result of these initiatives during the three months ended March 31, 2020.

The following tables set forth the asset impairment charges and exit activity costs incurred by segment during the three months ended March 31, related to the restructuring activities described above (in thousands):
Three months ended March 31,
20212020
Asset impairment chargesExit activity costs (recoveries), netTotalAsset impairment chargesExit activity costsTotal
Renewables$1,193 $3,778 $4,971 $— $18 $18 
Residential— 65 65 — 221 221 
Agtech— 204 204 — — — 
Infrastructure— — — — — — 
Corporate— — — — 54 54 
Total exit activity costs & asset impairments$1,193 $4,047 $5,240 $— $293 $293 


The following table provides a summary of where the asset impairments and exit activity costs were recorded in the consolidated statements of income for the three months ended March 31, (in thousands):
Three Months Ended 
 
March 31,
20212020
Cost of sales$5,047 $69 
Selling, general, and administrative expense193 224 
Total asset impairment and exit activity charges $5,240 $293 

The following table reconciles the beginning and ending liability for exit activity costs relating to the Company’s facility consolidation efforts (in thousands):
20212020
Balance at January 1$1,030 $2,083 
Exit activity costs recognized4,047 293 
Cash payments(1,464)(1,365)
Balance at March 31$3,613 $1,011