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Restructuring
 3 Months Ended
Mar. 31, 2025
Restructuring and Related Activities [Abstract]  
Restructuring RESTRUCTURING
On February 14, 2020, our Board of Directors approved a global restructuring plan (the “Restructuring Plan”) to improve operating performance and help ensure that we are appropriately structured and resourced to deliver sustainable value to our shareholders and customers. Key activities under the Restructuring Plan have targeted and achieved approximately $40 million
in annualized savings. In conjunction with the Restructuring Plan, on July 15, 2021, we entered into a manufacturing services agreement (the “Agreement”) with Sanmina Corporation (“Sanmina”). Under the Agreement, Sanmina provides manufacturing services for the Company’s measurement device products previously manufactured by the Company at the Company’s Lake Mary, Florida, Exton, Pennsylvania, Stuttgart, Germany and Portugal manufacturing sites. This phased transition to a Sanmina production facility was completed at the beginning of the third quarter of 2022 as part of our cost reduction initiative. As a result of an evaluation on the usage of our manufacturing spaces, we decided to abandon 17,000 square feet of unused space at our Exton, Pennsylvania facility in the third quarter of 2022. In connection with the Restructuring Plan, we recorded a total pre-tax charge of approximately $4.6 million, which includes expenses to be paid in cash of $3.0 million, primarily consisting of severance and related benefits, professional fees and other related charges and a non-cash expense of $1.6 million, consisting of the impairment of assets. We paid $6.4 million for the year ended December 31, 2022, primarily consisting of severance and related benefits.
On February 7, 2023, our Board of Directors approved an integration plan (the “Integration Plan”) to streamline and simplify operations, particularly around our recent acquisitions and the resulting redundant operations and offerings. The Integration Plan was amended on May 3, 2023, and the Board approved increases to both the expected pre-tax charges and the annualized cost savings. Key activities under the Integration Plan include a decrease in headcount, consolidation of our cloud-based offerings from 3 platforms (2 acquired, 1 organic) into a single customer offering, and the optimization of our facility assets to align with current and expected future utilization.
In 2023, we completed an evaluation of our leased facilities located in Lake Mary, Florida, Stuttgart and Dresden, Germany, Portugal and Singapore and determined that we would abandon portions of these facilities. Consequently, we recorded right-of-use asset and leasehold improvement impairment charges of $4.0 million, which was included in restructuring costs on the consolidated statements of operations. Additionally, we recorded $1.4 million in asset impairment charges to fully expense the net book value of certain software assets. As part of the Integration Plan, we also evaluated our product portfolio and decided to discontinue certain legacy products. As of December 31, 2024, in relation with the Integration Plan, we incurred total restructuring charges of $26.7 million, and have made cash payments of $10.4 million. Substantially all of our planned activities under the Restructuring Plan and the Integration Plan are complete.
On November 1, 2024, our Board of Directors approved a restructuring plan (the “2024 Restructuring Plan”), which is intended to support its strategic plan in an effort to improve operating performance and streamline and simplify operations, particularly around our redundant operations and underperforming countries primarily driven by economic and demand challenges in the manufacturing and construction sectors. Key activities under the 2024 Restructuring Plan include a planned decrease in headcount, consolidation of our manufacturing operations from recent acquisitions to our global manufacturing partner, Sanmina, and the continued optimization of our facilities assets to align with current and expected future utilization. As a result, we expect to incur potentially $6 million to $9 million in pre-tax charges, primarily in the fourth quarter of 2024 and first half of 2025, comprised primarily of $5 million to $8 million of one-time severance and other employee-related termination benefits. As of March 31, 2025, in relation with the 2024 Restructuring Plan, we have incurred total restructuring charges of $2.7 million, and have made cash payments of $2.2 million.
In the first quarter of 2025, we recognized $0.1 million in employee severance, other professional costs and asset write offs associated with the 2024 Restructuring Plan, and paid $0.7 million primarily consisting of severance and related benefits. In the first quarter of 2024, we did not incur costs relating to the Integration Plan, as substantially all of our planned activities under the Restructuring Plan and Integration Plan are complete. We paid $0.4 million for the three months ended March 31, 2024, primarily consisting of severance and related benefits associated with the Integration Plan.
Activity related to the accrued restructuring charges for the 2024 Restructuring Plan and the Integration Plan, and cash payments during the three months ended March 31, 2025 and 2024 is as follows (in thousands):

Severance and other benefitsProfessional fees and other related chargesTotal
Balance at December 31, 2024$1,522 $120 $1,642 
Additions charged to expense86 — 86 
Cash payments(638)(53)(691)
Balance at March 31, 2025$970 $67 $1,037 
Severance and other benefitsProfessional fees and other related chargesTotal
Balance at December 31, 2023$1,489 $120 $1,609 
Additions charged to expense— — — 
Cash payments(403)— (403)
Balance at March 31, 2024$1,086 $120 $1,206 

Substantially all of our planned activities under the Restructuring Plan and the Integration Plan are complete. We expect the 2024 Restructuring Plan actions to be completed by the end of 2025.