Restructuring Activities

12 Months Ended

Dec. 31, 2024

Restructuring and Related Activities [Abstract]

Restructuring Activities

Restructuring Activities

During 2024, 2023 and 2022, we incurred costs related to the programs described below. We also incurred costs related to other individually insignificant programs.

Productivity Initiative Program

We initiated a productivity program in response to weaker economic conditions experienced in the second half of 2023. The Smart Infrastructure Solutions and Automation Solutions segments incurred $2.6 million and $0.5 million, respectively, of severance and other costs during the year ended December 31, 2024 and $3.6 million and $5.5 million, respectively, during the year ended December 31, 2023.

Acquisition Integration Program

We are integrating our recent acquisitions with our existing businesses to achieve desired cost savings, primarily by focusing on consolidating existing and acquired facilities as well as other support functions. The Smart Infrastructure Solutions segment incurred $11.6 million, $6.5 million, and $4.8 million of restructuring and integration costs during the years ended December 31, 2024, 2023, and 2022, respectively. The Automation Solutions segment incurred $2.1 million, $3.0 million, and $3.4 million of restructuring and integration costs during the years ended December 31, 2024, 2023, and 2022, respectively.

Manufacturing Footprint Program

We consolidated our manufacturing footprint in the Americas region during 2022. The Smart Infrastructure Solutions and Automation Solutions segments incurred $3.3 million and $5.0 million, respectively, of severance and other costs during the year ended December 31, 2022.

The following table summarizes the costs of the programs described above by segment, all of which were excluded from Segment EBITDA:

	Severance		Restructuring and Integration Costs		Total Costs
			(In thousands)
Year Ended December 31, 2024
Smart Infrastructure Solutions	$	1,824	$	12,387	$	14,211
Automation Solutions	52		2,557		2,609
Total	$	1,876	$	14,944	$	16,820
Year Ended December 31, 2023
Smart Infrastructure Solutions	$	4,180	$	5,948	$	10,128
Automation Solutions	4,674		3,852		8,526
Total	$	8,854	$	9,800	$	18,654
Year Ended December 31, 2022
Smart Infrastructure Solutions	$	1,070	$	7,060	$	8,130
Automation Solutions	493		7,847		8,340
Total	$	1,563	$	14,907	$	16,470

The restructuring and integration costs incurred during 2024, 2023, and 2022 primarily consisted of equipment transfer, costs to consolidate operating and support facilities, retention bonuses, relocation, travel, legal, and other costs. The majority of the restructuring and integration costs related to these actions were paid as incurred or are payable within the next 60 days.

The following table summarizes the costs of the programs described above by financial statement line item in the Consolidated Statement of Operations:

	Years Ended December 31,
	2024		2023		2022
	(In thousands)
Cost of sales	$	1,318	$	1,667	$	10,060
Selling, general and administrative expenses	15,375		15,362		6,410
Research and development expenses	127		1,625		—
Total	$	16,820	$	18,654	$	16,470

Accrued Severance

The table below sets forth severance activity included in accrued liabilities that occurred for the Acquisition Integration Program and Productivity Initiative Program described above (in thousands).

Balance at December 31, 2022		$	—
	New charges	8,254
	Cash payments	(3,151)
	Foreign currency translation	68
	Other adjustments	(161)
Balance at December 31, 2023		$	5,010
	New charges	1,876
	Cash payments	(1,208)
	Foreign currency translation	(35)
	Other adjustments	(564)
Balance at December 31, 2024		$	5,079