Annual report pursuant to Section 13 and 15(d)

Restructuring

v3.24.0.1
Restructuring
 12 Months Ended
Dec. 30, 2023
Restructuring and Related Activities [Abstract]  
Restructuring Restructuring
During fiscal year 2022 and 2023, the Company initiated a restructuring plan to relocate one of its international facilities and align its ongoing corporate strategy. The Company incurs costs associated with restructuring initiatives intended to improve operating performance, profitability and efficiency of business processes. Restructuring charges can include severance costs, relocations costs, recruiting fees affiliated with hiring new personnel, legal costs, and contract cancellation costs.
The Company records restructuring charges when they are probable and estimable. Restructuring costs are accrued when the Company announces the closure or restructuring event, and the amounts can be reasonably estimated. Restructuring costs are included in general and administrative expenses on the Consolidated Statements of Operations and Comprehensive Income.
The Company’s restructuring expenses are comprised of the following:
(in millions) Year Ended
December 30, 2023 December 31, 2022
Severance and termination benefits $ 0.3  $ 0.3 
Facility related charges 0.1  0.6 
Legal, consulting, and other costs 0.8  0.2 
Total Restructuring Charges $ 1.2  $ 1.1 
The following table summarizes the changes in the Company’s accrued restructuring balance, which are included in accrued expenses and other current liabilities in the accompanying Consolidated Balance Sheets.
Balance at December 31, 2022
 $ — 
Restructuring charges 1.2 
Payments (1.2)
Balance at December 30, 2023
 $ —