Quarterly report pursuant to Section 13 or 15(d)

RESTRUCTURING

v3.22.2.2
RESTRUCTURING
 9 Months Ended
Oct. 01, 2022
Restructuring and Related Activities [Abstract]  
RESTRUCTURING RESTRUCTURING
The Company generally incurs restructuring charges related to cost optimization of business activities, primarily related to severance and employee-related benefits. During the third quarter of 2022, the Company approved plans to globalize our operating model and relocate our European headquarters to Geneva, Switzerland.
All of the $13.7 million of restructuring charges recognized during the three and nine months ended September 2022 were reflected within "selling, general and administrative expenses," and related to the globalization of the Company's operating model and relocation of the European headquarters. All of the $1.0 million of restructuring charges recognized during the nine months ended September 2021 were reflected within "selling, general and administrative expenses," and primarily related to previously approved initiatives.
All of the $13.7 million restructuring accrual reported in the Company's balance sheet at September 2022 is expected to be paid out within the next 12 months and was classified within "accrued liabilities." All of the $1.1 million restructuring accrual reported in the Company's balance sheet at December 2021 was expected to be paid out within the next 12 months and was classified within "accrued liabilities."
The following table presents the components of restructuring charges:
Three Months Ended September Nine Months Ended September
(In thousands)
2022 2021 2022 2021
Severance and employee-related benefits $ 13,688  $ —  $ 13,688  $ 992 
Total restructuring charges $ 13,688  $ —  $ 13,688  $ 992 
The following table presents the restructuring costs by business segment:
Three Months Ended September Nine Months Ended September
(In thousands)
2022 2021 2022 2021
Wrangler $ —  $ —  $ —  $ 306 
Lee —  —  —  331 
Corporate and other 13,688  —  13,688  355 
Total $ 13,688  $ —  $ 13,688  $ 992 
The following table presents activity in the restructuring accrual for the nine-month period ended September 2022:
(In thousands) Total
Accrual at December 2021 $ 1,079 
Charges 13,688 
Cash payments (957)
Adjustments to accruals 145 
Currency translation (222)
Balance, September 2022 $ 13,733