|6 Months Ended|
Jun. 29, 2019
|Restructuring and Related Activities [Abstract]|
The Company typically incurs restructuring charges related to cost optimization of business activities. Of the $1.7 million and $24.6 million of restructuring charges recognized during the three and six months ended June 2019, respectively, the Company recognized $1.7 million and $13.8 million in "selling, general and administrative expenses" during the three and six months ended June 2019, respectively, and $10.8 million in "cost of goods sold" during the six months ended June 2019.
The Company did not incur significant incremental costs related to the previously approved initiatives during the three and six months ended June 2019. All of the $12.8 million total restructuring accrual reported in the Company's balance sheet at June 2019 is expected to be paid out within the next 12 months and is classified within "accrued liabilities."
The components of the restructuring charges are as follows:
Restructuring costs by business segment are as follows:
The activity in the restructuring accrual for the six-month period ended June 2019 is as follows:
The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef