The 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 the Company's manufacturing footprint.

As a result of process simplification initiatives, the Company has incurred exit activity costs related to moving and closing costs and severance, along with asset impairment costs (recoveries) related to the write-down of inventory and other charges associated with discontinued product lines. Additionally, the Company has incurred the aforementioned costs resulting from the sale and/or closure of facilities including costs recorded during the six months ended June 30, 2023.

The following tables set forth the exit activity costs and asset impairment charges (recoveries) incurred by segment related to the restructuring activities described above (in thousands):


	Three Months Ended June 30,
	2024						2023
	Exit Activity		Asset Impairment		Total		Exit Activity		Asset Impairment		Total
Residential	$	145	$	—	$	145	$	—	$	—	$	—
Renewables	4,214		235		4,449		2,909		40		2,949
Agtech	11		—		11		156		—		156
Infrastructure	—		—		—		—		—		—
Corporate	4		—		4		—		—		—
Total	$	4,374	$	235	$	4,609	$	3,065	$	40	$	3,105



	Six Months Ended June 30,
	2024						2023
	Exit Activity		Asset Impairment		Total		Exit Activity		Asset Impairment		Total
Residential	$	145	$	(72)	$	73	$	114	$	—	$	114
Renewables	4,483		235		4,718		2,909		(23)		2,886
Agtech	149		—		149		717		—		717
Infrastructure	—		—		—		—		—		—
Corporate	4		—		4		—		—		—
Total	$	4,781	$	163	$	4,944	$	3,740	$	(23)	$	3,717

The following table provides a summary of where the exit activity costs and asset impairments were recorded in the consolidated statements of income (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Cost of sales	$	4,171	$	3,098	$	4,099	$	3,611
Selling, general, and administrative expense	438		7		845		106
Total exit activity and asset impairment charges	$	4,609	$	3,105	$	4,944	$	3,717

The following table reconciles the beginning and ending liability for exit activity costs relating to the Company’s restructuring efforts (in thousands):


	2024		2023
Balance at January 1	$	6,725	$	2,417
Exit activity costs recognized	4,781		3,740
Cash payments	(1,893)		(2,377)
Balance at June 30	$	9,613	$	3,780