0000918541-21-000003 | 10-K | XBRL Viewer

Changes in operating assets and liabilities:

(4,730)

3,169

1,290

Accounts receivable

10,831

1,265

(3,543)

Inventories

5,114

1,426

(16,208)

Accounts payable

(8,606)

(7,900)

2,693

Income taxes receivable and payable, net

(633)

(5,292)

39,615

Net cash provided by operating activities

10,802

4,711

(479)

15,549

49,208

40,939

Cash flows from investing activities

Acquisition of property, plant and equipment

(23,773)

(54,003)

(64,036)

Proceeds from liquidation of short-term investment

8,000

Proceeds from sale of business, net of cash sold

743,178

838

Cash paid to acquire businesses, net of cash received

(399,009)

Proceeds from sale of property, plant, and equipment

3,317

7,287

1,434

Cash settlements of interest rate swap

(4,133)

Net cash provided by (used in) investing activities

695

(711)

(517)

719,284

(39,427)

(461,290)

Cash flows from financing activities

Cash paid for debt issuance costs

(661)

(11,336)

(20,726)

Dividends paid

(8,879)

(8,826)

Proceeds from issuance of common stock

217,312

Proceeds from issuance of preferred stock

95,741

Proceeds from long-term debt

66,195

54,209

311,841

Repayments of long-term debt

(776,331)

(108,157)

(290,687)

Proceeds from (repayments of) short-term debt, net

(924)

(12,564)

10,305

Net cash provided by (used in) financing activities

(3,133)

(3,715)

(4,126)

(714,854)

5,299

215,093

Effect of exchange rate changes on cash flows

(3,544)

(1,365)

(1,200)

Net change in cash and cash equivalents

16,435

13,715

(206,458)

Cash and cash equivalents at beginning of period

^[1]

31,703

17,988

224,446

Cash and cash equivalents at end of period

^[1]

48,138

31,703

17,988

Supplemental schedule of non-cash operating, investing and financing activities:

Non-cash additions to property, plant and equipment

9,644

23,281

26,605

Restructuring charges in other current and non-current liabilities

(12)

2,071

Supplemental disclosures:

Cash paid for interest

51,542

50,514

56,223

Cash paid (received) for income taxes

$ 2,241

$ 6,428

$ (32,582)

[1]	Cash and cash equivalents include $13.8 million, $10.2 million, and $0.2 million of cash and cash equivalents that were included in current assets of discontinued operations as of December 31, 2019; December 31, 2018; and December 31, 2017, respectively.

Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Statement of Cash Flows [Abstract]
Cash and cash equivalents	$ 13.8	$ 10.2	$ 0.2

Significant Accounting Policies	12 Months Ended
Significant Accounting Policies	Dec. 31, 2020
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies Nature of Business NN, Inc. is a global diversified industrial company that combines advanced engineering and production capabilities with in-depth materials science expertise to design and manufacture high-precision components and assemblies primarily for the electrical, automotive, general industrial, aerospace and defense, and medical markets. As used in this Annual Report on Form 10-K (this “Annual Report”), the terms “NN,” the “Company,” “we,” “our,” or “us” refer to NN, Inc., and its subsidiaries. We have 32 facilities in North America, Europe, South America, and China. Basis of Presentation The accompanying consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”). Certain prior period amounts have been reclassified to conform to the current year’s presentation. Historical periods presented reflect reclassifications for discontinued operations (see Note 2). Except for per share data or as otherwise indicated, all U.S. dollar amounts presented in the tables in these Notes to Consolidated Financial Statements are in thousands. Going Concern In July 2020, we amended our Credit Agreement to waive compliance with our Consolidated Net Leverage Ratio (the “financial leverage ratio”) covenant for the second and third quarters of 2020. During this period, we were required to maintain minimum liquidity levels, provide certain financial and other information, and take certain other action as specified in the amendment. Failure to maintain the required minimum liquidity levels or satisfy other requirements set forth in the amendment would allow the revolving credit lenders, the Senior Secured Term loan lenders, and the Incremental Term Loan lenders to cause amounts outstanding under our credit facility to become immediately due and payable and would have a material, adverse impact on our financial position. In August 2020, we entered into an agreement to sell our Life Sciences business (see Note 2). The sale closed on October 6, 2020, at which time we received cash proceeds of $757.2 million. We immediately prepaid $700.0 million in the aggregate on the Senior Secured Term Loan and the Incremental Term Loan. We also paid in full the outstanding balance on the Senior Secured Revolver. Additionally, in August 2020, we amended our Credit Agreement to obtain the lenders’ consent to the sale of the Life Sciences business, subject to certain terms and conditions. The full extent of the effect of the COVID-19 pandemic on our customers, our supply chain, and our business cannot be reasonably assessed at this time. We have developed a plan to mitigate the impact of COVID-19, which includes the implementation of a series of specific and identified cost reductions in both our corporate and business groups, in addition to actions already taken, including further reducing our direct and indirect labor costs and benefits. The impact of COVID-19 on our operating results will depend on future developments, which are highly uncertain and cannot be predicted, including governmental and business reactions to the pandemic. We have made appropriate accounting estimates based on the facts and circumstances available as of the reporting date. If there are differences between these estimates and actual results, our consolidated financial statements may be materially affected. In accordance with Accounting Standards Update (“ASU”) 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (Subtopic 205-40), we have evaluated whether there are conditions and events, considered in the aggregate, that raise substantial doubt about our ability to continue as a going concern within one year after the date that the Consolidated Financial Statements are issued. We rely on cash flow generated from operations and available borrowings under our Senior Secured Revolver to fund our working capital and other operating and investing needs. Our ability to borrow under our Senior Secured Revolver is based on our continued compliance with the minimum liquidity requirements and, for periods beginning in the fourth quarter of 2020, the financial leverage ratio covenant, as defined, which became more restrictive upon the occurrence of a qualified sale transaction, which closed on October 6, 2020. Based on available borrowing capacity of the Senior Secured Revolver, the reduction in debt service costs as a result of the debt prepayment with net proceeds from the sale of the Life Sciences business in October 2020, and cash flows expected to be generated from operations and investing activities, we anticipate that our cash and cash equivalents are sufficient to support our operations and meet our obligations, and that we will be able to maintain compliance with the existing financial leverage ratio covenant for the next twelve months from issuance of these consolidated financial statements. Principles of Consolidation Our consolidated financial statements include the accounts of NN, Inc., and its wholly owned subsidiaries. We own a 49% interest in a joint venture which we account for using the equity method (see Note 10). All intercompany transactions and balances have been eliminated in consolidation. Use of Estimates in the Preparation of Consolidated Financial Statements The preparation of consolidated financial statements in accordance with U.S. GAAP requires management to use estimates and assumptions that affect the reported amounts of certain assets and liabilities, disclosure of contingent assets and liabilities, and the reported amounts of revenues and expenses. Actual results may differ from those estimates. Accounting Standards Recently Adopted Financial Instruments - Credit Losses. In June 2016, the Financial Accounting Standards Board (the “FASB”) issued ASU 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”), which modifies the measurement of expected credit losses on certain financial instruments and the timing of when such losses are recorded. In November 2019, the SEC issued Staff Accounting Bulletin (“SAB”) No. 119, codified in Accounting Standards Codification (“ASC”) Topic 326, Financial Instruments-Credit Losses, which provides guidance on accounting of credit losses. We adopted ASU 2016-13 on January 1, 2020, using the modified retrospective transition method, which resulted in no material impact on our consolidated financial statements. Fair Value Disclosures. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement (“ASU 2018-13”), that modifies fair value disclosure requirements. The new guidance streamlines disclosures of Level 3 fair value measurements. The modified disclosures were effective for us beginning in the first quarter of 2020. ASU 2018-13 changes disclosures only and does not impact our consolidated financial statements. Internal-Use Software. In August 2018, the FASB issued ASU 2018-15, Intangibles - Goodwill and Other - Internal-Use Software: Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract (a consensus of the FASB Emerging Issues Task Force) (“ASU 2018-15”), that provides guidance on a customer’s accounting for implementation, set-up, and other upfront costs incurred in a cloud computing arrangement that is hosted by the vendor. Under the new guidance, customers apply the same criteria for capitalizing implementation costs as they would for an arrangement that has a software license. We adopted ASU 2018-15 as of January 1, 2020, prospectively. We have had no such costs after the adoption date, and we do not expect the new guidance to have a material impact on our consolidated financial statements. Reference Rate Reform. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848), Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which provides temporary optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships, and other transactions that reference the London Interbank Offered Rate (“LIBOR”) or another reference rate expected to be discontinued because of reference rate reform. Among other things, for all types of hedging relationships, the guidance allows an entity to change the reference rate and other critical terms related to reference rate reform without having to remeasure the value or reassess a previous accounting determination. The amendments in this guidance should be applied on a prospective basis and, for companies with a fiscal year ending December 31, are effective from January 1, 2020, through December 31, 2022. We adopted this guidance effective January 1, 2020. When the transition occurs, we expect to apply this expedient to new transactions that reference LIBOR or another reference rate that is discontinued, through December 31, 2022. The adoption of this ASU is not expected to have a material impact on our consolidated financial statements. Accounting Standards Not Yet Adopted In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740) - Simplifying the Accounting for Income Taxes, (“ASU 2019-12”) as part of its initiative to reduce complexity in accounting standards. ASU 2019-12 removes certain exceptions and provides simplification to specific tax items to improve consistent application. This standard is effective for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years. Early adoption is permitted, including adoption in any interim period for which consolidated financial statements have not yet been issued. Adoption methods vary based on the specific items impacted. We are currently evaluating the impact on our consolidated financial statements and related disclosures. In August 2020, the FASB issued ASU 2020-06, Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity, (“ASU 2020-06”) which simplifies the accounting for certain financial instruments with characteristics of liabilities and equity. Specifically, ASU 2020-06 simplifies accounting for convertible instruments by removing major separation models required under current U.S. GAAP. In addition, ASU 2020-06 removes certain settlement conditions that are required for equity contracts to qualify for the derivative scope exception, which will permit more equity contracts to qualify for the exception. Further, for the diluted earnings-per-share calculation, the new guidance requires entities to use the if-converted method for all convertible instruments and generally requires entities to include the effect of share settlement for instruments that may be settled in cash or shares, among other things. ASU 2020-06 is effective for fiscal years beginning after December 15, 2021, and interim periods within those fiscal years. Early adoption is permitted for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years. Either the full or modified retrospective adoption method is allowed. We are currently evaluating the impact on our consolidated financial statements and related disclosures. Cash and Cash Equivalents Cash and cash equivalents include cash and highly liquid investments with original maturities of three months or less. We maintain cash balances in transaction accounts with various financial institutions that are insured by the Federal Deposit Insurance Corporation (“FDIC”). Although we maintain balances that exceed the federally insured limit, we have not experienced any losses related to these balances, and we believe credit risk to be minimal. We had approximately $17.0 million and $12.7 million in cash and cash equivalents as of December 31, 2020 and 2019, respectively, held at foreign financial institutions. Fair Value Measurements Fair value principles prioritize valuation inputs across three broad levels. Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2 inputs are quoted prices for similar assets and liabilities in active markets or inputs that are observable for the asset or liability, either directly or indirectly through market corroboration, for substantially the full term of the financial instrument. Level 3 inputs are unobservable inputs based on the assumptions used to measure assets and liabilities at fair value. An asset or liability’s classification within the various levels is determined based on the lowest level input that is significant to the fair value measurement. Accounts Receivable and Allowance for Credit Losses Trade accounts receivable are recorded at their net realizable value. We maintain allowances for estimated losses resulting from the inability of our customers to make required payments. The allowances are based on the amount that we ultimately expect to collect from our customers. We evaluate the collectability of accounts receivable based on a combination of factors including number of days receivables are past due, historical collection experience, current market conditions, and forecasted direction of economic and business environment. Accounts receivable are written off at the time a customer receivable is deemed uncollectible. Inventories Inventories are stated at the lower of cost or net realizable value. Cost is determined using standard costs, which approximates the average cost method. Our policy is to expense abnormal amounts of idle facility expense, freight, handling cost, and waste included in cost of products sold. In addition, we allocate fixed production overheads based on the normal production capacity of our facilities. Inventory valuations were developed using normalized production capacities for each of our manufacturing locations. The costs from excess capacity or under-utilization of fixed production overheads were expensed in the period incurred and are not included as a component of inventory. Inventories also include tools, molds, and dies in progress that we are producing and will ultimately sell to our customers. These inventories are also carried at the lower of cost or net realizable value. Property, Plant and Equipment Property, plant and equipment are stated at cost less accumulated depreciation. Assets to be disposed of are stated at the lower of depreciated cost or fair market value less estimated selling costs. Expenditures for maintenance and repairs are charged to expense as incurred. Major renewals and improvements are capitalized. When a property item is retired, its cost and related accumulated depreciation are removed from the property accounts and any gain or loss is recorded in the Consolidated Statements of Operations and Comprehensive Income (Loss). We review the carrying values of long-lived assets for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not be recoverable. Property, plant and equipment also includes tools, molds, and dies used in manufacturing. Depreciation is calculated based on historical cost using the straight-line method over the estimated useful lives of the depreciable assets. Estimated useful lives for buildings and land improvements generally range from 10 to 40 years. Estimated useful lives for machinery and equipment generally range from 3 to 12 years. Estimated useful lives for leasehold improvements are based on the life of the lease. Goodwill and Other Indefinite Lived Intangible Assets Goodwill is tested for impairment on an annual basis in the fourth quarter and between annual tests if a triggering event occurs. The impairment analysis is performed at the reporting unit level. An impairment charge is calculated based on a reporting unit’s carrying amount in excess of its fair value (i.e., step 1 of the two-step impairment test). If the carrying value of the reporting unit including goodwill is less than fair value of the reporting unit, the goodwill is not considered impaired. Impairment of Long-Lived Assets Long-lived tangible and intangible assets subject to depreciation or amortization are tested for recoverability when changes in circumstances indicate the carrying value of these assets may not be recoverable. A test for recoverability is also performed when management has committed to a plan to dispose of a reporting unit or asset group. Assets to be held and used are tested for recoverability when indications of impairment are evident. Recoverability of a long-lived tangible or intangible asset is evaluated by comparing its carrying value to the future estimated undiscounted cash flows expected to be generated by the asset or asset group. If the asset is not recoverable, then the asset is considered impaired and adjusted to fair value which is then depreciated or amortized over its remaining useful life. Assets to be disposed of are recorded at the lesser of carrying value or fair value less costs of disposal. Equity Method Investments Our equity method investment is subject to a review for impairment if, and when, circumstances indicate that a decline in value below its carrying amount may have occurred. Examples of such circumstances include, but are not limited to, a significant deterioration in the earnings performance or business prospects of the investee; a significant adverse change in the regulatory, economic or technological environment of the investee; a significant adverse change in the general market condition of either the geographic area or the industry in which the investee operates; and recurring negative cash flows from operations. If management considers the decline to be other than temporary, we would write down the investment to its estimated fair market value. Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the consolidated financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Valuation allowances are recorded to reduce deferred tax assets when it is more likely than not that a tax benefit will not be realized. Provision has been made for income taxes on unremitted earnings of certain foreign subsidiaries as these earnings are not deemed to be permanently reinvested. We recognize income tax positions that meet the more likely than not threshold and accrue interest and potential penalties related to unrecognized income tax positions which are recorded as a component of the provision (benefit) for income taxes. We treat global intangible low-taxed income (“GILTI”) as a periodic charge in the year in which it arises and therefore do not record deferred taxes for basis differences associated with GILTI. We eliminate disproportionate tax effects from accumulated other comprehensive income (loss) when the circumstances upon which they are premised cease to exist. Revenue Recognition We recognize revenues when control of the good or service is transferred to the customer either at a point in time or, in limited circumstances, as our services are rendered over time. Revenue is measured as the amount of consideration we expect to receive in exchange for transferring goods or services. Share Based Compensation The cost of stock options, restricted stock, and performance share units is recognized as compensation expense over the vesting periods based on the grant date fair value, net of expected forfeitures. We determine grant date fair value using the Black Scholes financial pricing model for stock options and a Monte Carlo simulation for performance share units that include a market condition for vesting because these awards are not traded in open markets. We determine grant date fair value using the closing price of our common stock on the date of grant for restricted stock and performance share units that include performance conditions for vesting. Common Stock and Preferred Stock Dividends Dividends are recorded as a reduction to retained earnings. When we have an accumulated deficit, dividends are recorded as a reduction of additional paid-in capital. Foreign Currency Translation Assets and liabilities of our foreign subsidiaries are translated at current exchange rates. Revenue, costs, and expenses are translated at average rates prevailing during each reporting period. Translation adjustments arising from the translation of foreign subsidiary financial statements are reported as a component of other comprehensive income (loss) and accumulated other comprehensive income (loss) within stockholders’ equity. Transactions denominated in foreign currencies, including intercompany transactions, are initially recorded at the current exchange rate at the date of the transaction. The balances are adjusted to the current exchange rate as of each balance sheet date and as of the date when the transaction is consummated. Transaction gains or losses, excluding intercompany loan transactions, are expensed as incurred in either cost of sales or selling, general and administrative expense in the Consolidated Statements of Operations and Comprehensive Income (Loss) and were immaterial to the years ended December 31, 2020, 2019, and 2018. Transaction gains or losses on intercompany loan transactions are recognized as incurred in the “Other expense (income), net” line in the Consolidated Statements of Operations and Comprehensive Income (Loss). For the years ended December 31, 2020, 2019, and 2018, transaction gains or losses on intercompany loan transactions were $0.8 million, $0.4 million, and $3.6 million, respectively. Net Income (Loss) Per Common Share We are required to allocate earnings or losses for a reporting period to common stockholders and participating securities using the two-class method to compute earnings per share. The two-class method is an earnings allocation formula that treats participating securities as having rights to earnings that otherwise would have been available to common stockholders. Participating securities may participate in undistributed earnings with common stock whether or not that participation is conditioned upon the occurrence of a specified event. Under the two-class method, our net income (loss) is reduced (or increased) by the amount that has been or will be distributed to our participating security holders. Preferred shares are participating securities that participate in earnings but do not participate in losses. Basic net income (loss) per common share is computed by dividing net income (loss) allocable to common shares by the weighted average number of common shares outstanding. Diluted net income (loss) per common share includes the effect of warrants, convertible preferred stock, stock options and the respective tax benefits unless inclusion would not be dilutive. Business Combinations We allocate the total purchase price of tangible and intangible assets acquired and liabilities assumed based on their estimated fair values as of the business combination date, with the excess purchase price recorded as goodwill. The purchase price allocation process requires us to use significant estimates and assumptions, including fair value estimates, as of the business combination date. Although we believe the assumptions and estimates we have made are reasonable and appropriate, they are based in part on historical experience and information obtained from management of the acquired company. Our assumptions and estimates are also partially based on valuation models that incorporate projections of expected future cash flows and operating plans and are inherently uncertain. Valuations are performed by management or third-party valuation specialists under management’s supervision. In determining the fair value of assets acquired and liabilities assumed in business combinations, as appropriate, we may use one of the following recognized valuation methods: the income approach (including discounted cash flows, relief from royalty and excess earnings model), the market approach, or the replacement cost approach. Examples of significant estimates used to value certain intangible assets acquired include but are not limited to: •sales volume, pricing, and future cash flows of the business overall; •future expected cash flows from customer relationships, and other identifiable intangible assets, including future price levels, rates of increase in revenue, and appropriate attrition rate; •the acquired company’s brand and competitive position, royalty rate quantum, as well as assumptions about the period of time the acquired brand will continue to benefit the combined company’s product portfolio; and •cost of capital, risk-adjusted discount rates, and income tax rates. Different assumptions regarding projected performance and other factors associated with the acquired assets may affect the amount recorded under each type of asset and liability. The valuations of property, plant and equipment, intangible assets, goodwill and deferred income tax liabilities depend heavily on assumptions. Subsequent assessment could result in future impairment charges. We refine these estimates over a measurement period not to exceed one year to reflect new information obtained surrounding facts and circumstances existing at the acquisition date.

Discontinued Operations

12 Months Ended

Dec. 31, 2020

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

In August 2020, we entered into a Stock Purchase Agreement (the “SPA”) with affiliates of American Securities LLC for the sale of our Life Sciences business for an aggregate purchase price of up to $825 million, which includes a $755 million cash base purchase price and a potential earnout payment of up to $70 million. The cash base purchase price was subject to certain adjustments and was payable at the closing of the transaction, which occurred on October 6, 2020. The earnout payment is subject to the performance of the Life Sciences business during the year ending December 31, 2022, measured by Adjusted EBITDA targets, as defined by the SPA. The Life Sciences business includes facilities that are engaged in the production of a variety of components, assemblies, and instruments, such as surgical knives, bioresorbable implants, surgical staples, cases and trays, orthopaedic implants and tools, laparoscopic devices, and drug delivery devices for the orthopaedics and medical/surgical end markets. The sale of the Life Sciences business furthers management’s strategy to improve liquidity and creates the financial flexibility to pursue key growth areas in the Mobile Solutions and Power Solutions segments.

After working capital and other closing adjustments, the final cash purchase price was approximately $753.3 million. We received cash proceeds at closing of $757.2 million and recorded a $3.9 million payable at December 31, 2020, for the balance. We prepaid $700.0 million in the aggregate on the Senior Secured Term Loan and the Incremental Term Loan immediately following the sale. We also paid in full the outstanding balance on the Senior Secured Revolver. We recognized a gain on sale of $214.9 million, net of income taxes. Under the terms of a transition services agreement, we are providing certain support services for up to 180 days from the closing date of the sale. In accordance with the terms of the SPA, we agreed to indemnify the buyer for certain tax liabilities on its consolidated federal income tax return related to the Life Sciences business during the portion of the year ended December 31, 2020, prior to the change in ownership on October 6, 2020. We estimate that the tax indemnification will result in a payment of approximately $1.2 million to the buyer during the year ending December 31, 2021, and we have recorded this estimated obligation in the “Other current liabilities” line item on the Consolidated Balance Sheets at December 31, 2020.

In accordance with ASC 205-20, Presentation of Financial Statements - Discontinued Operations, the operating results of the Life Sciences business are classified as discontinued operations. The presentation of discontinued operations includes revenues and expenses of the discontinued operations and will also include any gain on the disposition of the business, all net of tax, as one line item on the Consolidated Statements of Operations and Comprehensive Income (Loss). The Consolidated Statements of Operations and Comprehensive Income (Loss) for all periods presented have been revised to reflect this presentation. Accordingly, the results of the Life Sciences business have been excluded from continuing operations and segment results for all periods presented in the consolidated financial statements and the accompanying notes unless otherwise stated. The Consolidated Statements of Cash Flows include cash flows of the Life Sciences business in each line item unless otherwise stated.

The following table presents the results of operations of the discontinued operations.


	Years Ended December 31,
		2020		2019		2018
Net sales		$	225,255	$	357,937	$	246,463
Cost of sales (exclusive of depreciation and amortization shown separately below)		160,464		249,157		175,787
Selling, general, and administrative expense		20,779		34,328		20,927
Acquisition related costs excluded from selling, general and administrative expense		—		—		5,763
Depreciation and amortization		35,731		46,950		28,102
Restructuring and integration expense, net		—		—		1,438
Goodwill impairment		146,757		—		—
Other operating expense (income), net		41		20		(737)
Income (loss) from operations		(138,517)		27,482		15,183
Interest expense		48,893		44,125		49,928
Loss on extinguishment of debt and write-off of debt issuance costs		1,388		2,753		19,562

Other expense (income), net		(322)		178		(675)
Loss from discontinued operations before costs of disposal and benefit for income taxes		(188,476)		(19,574)		(53,632)
Benefit for income taxes		12,468		3,582		11,865
Loss from discontinued operations before gain on disposal		(176,008)		(15,992)		(41,767)
Gain on disposal of discontinued operations		212,319		—		—
Benefit for income taxes on gain on disposal		2,587		—		—
Income (loss) from discontinued operations, net of tax		$	38,898	$	(15,992)	$	(41,767)

impairment analysis as of March 31, 2020. The carrying value of the Life Sciences reporting unit exceeded its estimated fair value as of March 31, 2020. As a result of our analysis, we recorded an impairment loss on goodwill of $146.8 million for Life Sciences. The judgments, assumptions, and estimates involved in the goodwill impairment analysis for the Life Sciences reporting unit are consistent with those discussed in Note 8.

Our credit facility required us to use proceeds from the sale of the Life Sciences business to prepay a portion of our existing debt. We paid $700 million in the aggregate on our term loans as described in Note 12. The prepayment was applied to debt in accordance with the prepayment provisions of the Credit Agreement immediately after the transaction closed on October 6, 2020. Average quarterly interest rates were multiplied by the required prepayment amounts to calculate interest expense to be reclassified to discontinued operations for all periods presented. Write-offs of credit facility debt issuance costs were allocated to discontinued operations by multiplying the ratio of the required prepayment amounts as a percentage of total outstanding principal by the total write-off charges in each period. Write-offs of credit facility debt issuance costs that have been allocated to discontinued operations are presented in the “Loss on extinguishment of debt and write-off of debt issuance costs” line the table above. The following table summarizes the amount of interest expense related to the credit facility that has been reclassified to discontinued operations.


	Years Ended December 31,
		2020		2019		2018
Interest on debt		$	35,147	$	40,996	$	46,406
Amortization of debt issuance costs		13,990		3,368		3,571
Capitalized interest and other		(244)		(239)		(49)

Total interest expense of discontinued operations		$	48,893	$	44,125	$	49,928

The following table summarizes the carrying amounts of major classes of assets and liabilities of discontinued operations for each of the periods presented.


	December 31, 2020		December 31, 2019
Cash and cash equivalents	$	—	$	13,792
Accounts receivable, net	—		48,318
Inventories	—		51,644

Other current assets	—		3,246
Total current assets of discontinued operations	—		117,000
Property, plant and equipment, net	—		118,536
Operating lease right-of-use assets	—		20,044
Goodwill	—		344,316
Intangible assets, net	—		211,847
Other non-current assets	—		311
Total non-current assets of discontinued operations	—		695,054
Total assets of discontinued operations	$	—	$	812,054

Accounts payable	$	—	$	16,367
Accrued salaries, wages and benefits	—		14,844
Income tax payable	—		344
Current portion of operating lease liabilities	—		2,364
Other current liabilities	—		7,627
Total current liabilities of discontinued operations	—		41,546
Deferred tax liabilities	—		61,338
Operating lease liabilities, net of current portion	—		18,405
Other non-current liabilities	—		4,456
Total non-current liabilities of discontinued operations	—		84,199
Total liabilities of discontinued operations	$	—	$	125,745

The following table presents the significant noncash items and cash paid for capital expenditures of discontinued operations for each period presented.


	Years Ended December 31,
	2020		2019		2018
Depreciation and amortization	$	35,731	$	46,950	$	28,102
Goodwill impairment	146,757		—		—
Amortization of debt issuance costs	13,990		3,368		3,571
Loss on extinguishment of debt and write-off of debt issuance costs	1,388		2,753		19,562
Acquisition of property, plant and equipment	8,416		21,834		14,759
Right-of-use assets obtained in exchange for new finance lease liabilities	695		5,321		—
Right-of-use assets obtained in exchange for new operating lease liabilities (1)	6,174		51		—

_______________________________

(1) Includes new leases, renewals, and modifications after the adoption of ASC Topic 842, Leases, on January 1, 2019.

Acquisitions	12 Months Ended
Acquisitions	Dec. 31, 2020
Business Combinations [Abstract]
Acquisitions	Acquisitions Paragon Medical, Inc. On May 7, 2018, we acquired 100% of the stock of PMG Intermediate Holding Corporation, the parent company of Paragon Medical, Inc. (“Paragon Medical”). For accounting purposes, Paragon Medical met the definition of a business and was accounted for as a business combination. Paragon Medical is a medical device manufacturer which focuses on the orthopaedic, case and tray, implant, and instrument markets. We finalized the purchase price allocation and recorded measurement period adjustments to the initial allocation as disclosed in our 2018 Annual Report. Operating results of Paragon Medical were included in our historical consolidated financial statements after the date of acquisition as part of our Life Sciences business. The Life Sciences business was subsequently sold on October 6, 2020, and is included in discontinued operations as discussed in Note 2. Bridgemedica, LLC On February 22, 2018, we completed the acquisition of 100% of the assets of Bridgemedica, LLC (“Bridgemedica”). For accounting purposes, Bridgemedica met the definition of a business and was accounted for as a business combination. Bridgemedica is a medical device company that provides concept to supply solutions through design, development engineering, and manufacturing. We finalized our valuation related to the assets acquired and liabilities assumed during 2019 with no material changes to the initial allocation. Operating results of Bridgemedica were included in our historical consolidated financial statements report after the acquisition date as part of our Life Sciences business. The Life Sciences business was subsequently sold on October 6, 2020, and is included in discontinued operations as discussed in Note 2. Southern California Technical Arts, Inc. On August 9, 2018, we completed the acquisition of 100% of the capital stock of Southern California Technical Arts, Inc. (“Technical Arts”). For accounting purposes, Technical Arts met the definition of a business and was accounted for as a business combination. Technical Arts is an industrial machining company that manufactures tight tolerance metal components and assemblies. The acquisition of Technical Arts expands our presence in the aerospace and defense end market. Operating results of Technical Arts are reported in our Power Solutions group after the acquisition date. We finalized our valuation related to the assets acquired and liabilities assumed during 2019 with no material changes to the initial allocation.

Segment Information

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

Segment Information

Our business has historically been aggregated into the following three reportable segments.

•Mobile Solutions. Mobile Solutions is focused on growth in the general industrial and automotive end markets. We have developed an expertise in manufacturing highly complex, system critical components for fuel systems, engines and transmissions, power steering systems, and electromechanical motors on a high-volume basis. This expertise has been gained through investment in technical capabilities, processes and systems, and skilled program management and product launch capabilities.

•Power Solutions. Power Solutions is focused on growth in the electrical and aerospace and defense end markets, while

also serving the automotive and medical end markets. Within this group we combine materials science expertise with advanced engineering and production capabilities to design and manufacture a broad range of high-precision metal and plastic components, assemblies, and finished devices used in applications ranging from power control to flight control and for military devices. We manufacture a variety of products including electrical contacts, connectors, contact assemblies, and precision stampings for the electrical end market and high precision products for the aerospace and defense end market utilizing our extensive process technologies for optical grade plastics, thermally conductive plastics, titanium, Inconel, magnesium, and electroplating. Our medical business includes the production of a variety of tools and instruments for the orthopaedics and medical/surgical end markets.

•Life Sciences. Life Sciences was focused on growth in the medical end market, primarily in the orthopaedics and medical/surgical end markets. Within this group we combined advanced engineering and production capabilities to design and manufacture a broad range of high-precision metal and plastic components, assemblies, and finished devices. We manufactured a variety of components, assemblies, and instruments, such as surgical knives, bioresorbable implants, surgical staples, cases and trays, orthopaedic implants and tools, laparoscopic devices, and drug delivery devices for the orthopaedics and medical/surgical end markets.

These divisions have historically been considered our three operating segments as each has engaged in business activities for which it earns revenues and incurs expenses, discrete financial information is available for each, and this is the level at which the chief operating decision maker reviews discrete financial information for purposes of allocating resources and assessing performance. See Note 2 for information regarding the sale of the Life Sciences business on October 6, 2020. The results of the Life Sciences business are classified as discontinued operations for all periods in the consolidated financial statements and accompanying notes unless otherwise stated. Accordingly, results of the Life Sciences business are not included in the tabular presentation below.

The following tables present results of continuing operations by reportable segment.


	Mobile Solutions			Power Solutions		Corporate and Consolidations			Total
Year Ended December 31, 2020
Net sales	$	256,360		$	171,269	$	(95)	(a)	$	427,534
Depreciation and amortization	28,298			15,730		1,652			45,680
Goodwill impairment	—			92,942		—			92,942
Income (loss) from operations	5,228			(85,983)		(36,702)			$	(117,457)
Interest expense									(18,898)
Other									(15,733)
Loss from continuing operations before income taxes and share of net income from joint venture						$	(152,088)
Share of net income from joint venture	$	3,626		$	—	$	—		$	3,626
Expenditures for long-lived assets	12,400			2,754		203			15,357
Total assets	370,985		(b)	197,348		56,629			624,962


	Mobile Solutions			Power Solutions		Corporate and Consolidations			Total
Year Ended December 31, 2019
Net sales	$	297,749		$	192,100	$	(335)	(a)	$	489,514
Depreciation and amortization	27,146			15,301		2,449			44,896

Income (loss) from operations	9,553			13,881		(41,027)			$	(17,593)
Interest expense									(13,030)
Other									(1,502)
Loss from continuing operations before income taxes and share of net income from joint venture						$	(32,125)
Share of net income from joint venture	$	1,681		$	—	$	—		$	1,681
Expenditures for long-lived assets	24,969			4,457		2,743			32,169
Total assets	373,256		(b)	310,545		858,183		(c)	1,541,984


	Mobile Solutions		Power Solutions		Corporate and Consolidations			Total
Year Ended December 31, 2018
Net sales	$	335,037	$	189,778	$	(621)	(a)	$	524,194
Depreciation and amortization	26,217		14,753		2,056			43,026
Goodwill impairment	73,442		109,100		—			182,542
Loss from operations	(55,079)		(95,115)		(44,853)			$	(195,047)
Interest expense								(11,315)
Other								(2,016)
Loss from continuing operations before income taxes and share of net loss from joint venture					$	(208,378)
Share of net loss from joint venture	$	(14,390)	$	—	$	—		$	(14,390)
Expenditures for long-lived assets	36,660		6,459		6,158			49,277

_______________________________

(a) Includes eliminations of intersegment transactions which occur during the ordinary course of business.

(b) Total assets in Mobile Solutions includes $27.0 million and $21.8 million as of December 31, 2020 and 2019, respectively, related to the investment in our 49% owned joint venture (Note 10).

The following table summarizes long-lived tangible assets by geographical region.


	Property, Plant, and Equipment, Net As of December 31,
	2020		2019
United States	$	130,077	$	158,444
Europe	$	40,663	$	38,082
Asia	33,854		33,058
Mexico	1,230		1,388
South America	17,866		25,005
All foreign locations	$	93,613	$	97,533
Total	$	223,690	$	255,977

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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Property, Plant and Equipment [Abstract]

Accounts Receivable

12 Months Ended

Dec. 31, 2020

Receivables [Abstract]

Accounts Receivable

Accounts receivable, net, are comprised of the following amounts:


	As of December 31,
	2020		2019
Trade	$	86,659	$	85,284
Less—allowance for credit losses	2,044		2,044
Accounts receivable, net	$	84,615	$	83,240

The following table presents changes in allowance for credit losses.


	Year Ended December 31,
	2020		2019		2018
Balance at beginning of year	$	2,044	$	2,517	$	2,339
Additions	505		231		628
Write-offs	(562)		(692)		(400)
Currency impact	57		(12)		(50)
Balance at end of year	$	2,044	$	2,044	$	2,517

As of December 31, 2020, one customer represented 11% of consolidated accounts receivable from continuing operations. As of December 31, 2019, another customer represented 10% of consolidated accounts receivable from continuing operations. Amounts due from these customers are primarily related to Mobile Solutions.

Inventories

12 Months Ended

Dec. 31, 2020

Inventory Disclosure [Abstract]

Inventories

Inventories are comprised of the following amounts:


	As of December 31,
	2020		2019
Raw materials	$	22,589	$	34,816
Work in process	20,758		17,810
Finished goods	19,170		14,452
Total inventories	$	62,517	$	67,078

Property, Plant and Equipment

12 Months Ended

Dec. 31, 2020

Property, Plant and Equipment

Property, plant and equipment are comprised of the following amounts:


	As of December 31,
	2020		2019
Property, plant and equipment
Land and buildings	$	58,296	$	57,222
Machinery and equipment	339,268		321,110
Construction in progress	1,270		25,416
Total	398,834		403,748
Less: Accumulated depreciation	175,144		147,771
Property, plant and equipment, net	$	223,690	$	255,977

We monitor property, plant and equipment for any indicators of potential impairment. We recognized impairment charges of $4.1 million, $0.6 million, and $5.2 million for the years ended December 31, 2020, 2019, and 2018, respectively, related to the early retirement of identified fixed assets. The impairment charges were recorded to the “Other operating expense, net,” line item on the Consolidated Statements of Operations and Comprehensive Income (Loss). The impairment charges were determined by writing the assets down to the estimated salvage value, less disposal costs.

For the years ended December 31, 2020, 2019, and 2018, we recorded depreciation expense of $31.3 million, $30.4 million, and $28.5 million, respectively.

Goodwill

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

All of our net goodwill is recorded in the Power Solutions reportable segment, and no goodwill is recorded in the Mobile Solutions reportable segment. The following table shows changes in the carrying amount of Power Solutions goodwill.



Balance as of December 31, 2018	$	94,505
Currency impact and other	274



Balance as of December 31, 2019	94,779
Currency impact and other	(1,837)
Impairments	(92,942)
Balance as of December 31, 2020	$	—

The following table presents the gross carrying amount of goodwill and accumulated impairment charges as of December 31, 2020, and 2019.


	December 31, 2020						December 31, 2019
	Gross Carrying Amount		Accumulated Impairment Charges		Net Book Value		Gross Carrying Amount		Accumulated Impairment Charges		Net Book Value

Mobile Solutions	78,254		(78,254)		—		77,458		(77,458)		—
Power Solutions	213,791		(213,791)		—		215,628		(120,849)		94,779
Total goodwill	$	292,045	$	(292,045)	$	—	$	293,086	$	(198,307)	$	94,779

During the first quarter of 2020, our market capitalization declined to a level that was less than the net book value of our stockholders’ equity. The decline in market capitalization was a triggering event that caused us to perform a goodwill impairment analysis as of March 31, 2020. The goodwill impairment analysis required significant judgments to calculate the fair value for the Power Solutions reporting unit, including estimation of future cash flows, which is dependent on internal forecasts, estimation of the long-term growth rate for each operating segment, and determination of weighted average cost of capital. Our forecasts used in the goodwill impairment analysis reflected our expectations of declines in sales resulting from COVID-19. Significant assumptions and estimates are involved in the application of the discounted cash flow model to forecast operating cash flows, including market growth and market share, sales volumes and prices, costs to produce, discount rate, and estimated capital needs. Management considers historical experience and all available information at the time the fair values of its reporting units are estimated. Assumptions in estimating future cash flows are subject to a high degree of judgment and complexity. The carrying value of the Power Solutions reporting unit exceeded the estimated fair value as of the March 31, 2020, analysis. As a result of our analysis, we recorded an impairment loss on goodwill of $92.9 million to the “Goodwill impairment” line on the Consolidated Statements of Operations and Comprehensive Income (Loss). As of December 31, 2020, there is no remaining goodwill balance.

During the fourth quarter of 2018, our market capitalization declined to a level that was less than the net book value of our stockholders’ equity. We performed our annual goodwill impairment analysis as of October 1, 2018, and elected to early adopt ASU 2017-4, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. As a result of our analysis, we recorded an impairment loss on goodwill in 2018 of $73.4 million and $109.1 million for Mobile Solutions and Power Solutions, respectively, to the “Goodwill impairment” line on the Consolidated Statements of Operations and Comprehensive Income (Loss).

Intangible Assets, Net

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets, Net

The following table shows changes in the carrying amount of intangible assets, net, by reportable segment.


	Mobile Solutions		Power Solutions		Total
Balance as of December 31, 2018	$	35,892	$	95,991	$	131,883
Amortization	(3,479)		(10,994)		(14,473)
Other	3		—		3

Balance as of December 31, 2019	32,416		84,997		117,413
Amortization	(3,354)		(10,994)		(14,348)

Balance as of December 31, 2020	$	29,062	$	74,003	$	103,065

The following table shows the cost and accumulated amortization of our intangible assets as of December 31, 2020 and 2019.


		December 31, 2020						December 31, 2019
	Estimated Useful Life in Years	Gross Carrying Value as of Acquisition Date		Accumulated Amortization		Net Carrying Value		Gross Carrying Value as of Acquisition Date		Accumulated Amortization		Net Carrying Value
Customer relationships	12 - 20	$	173,746	$	(74,250)	$	99,496	$	173,746	$	(60,603)	$	113,143
Trademark and trade name	8 - 15	7,527		(3,958)		3,569		7,527		(3,257)		4,270

Total identified intangible assets		$	181,273	$	(78,208)	$	103,065	$	181,273	$	(63,860)	$	117,413

Intangible assets that are fully amortized are removed and no longer represented in the gross carrying value or accumulated amortization.

The following table shows estimated future amortization expense for the next five years and thereafter.


Year Ending December 31,
2021	$	14,347
2022	14,347
2023	14,262
2024	13,919
2025	13,919
Thereafter	32,271
Total	$	103,065

Intangible assets are reviewed for impairment when changes in circumstances indicate the carrying value of those assets may not be recoverable. As of December 31, 2020 and 2019, there were no indications of impairment.

Investment in Joint Venture

12 Months Ended

Dec. 31, 2020

Equity Method Investments and Joint Ventures [Abstract]

Investment in Joint Venture

We own a 49% investment in Wuxi Weifu Autocam Precision Machinery Company, Ltd. (the “JV”), a joint venture located in Wuxi, China. The JV is jointly controlled and managed, and we account for it under the equity method.

The following table shows changes in our investment in the JV.


Balance as of December 31, 2019	$	21,755
Share of earnings	3,626


Foreign currency translation gain	1,602

Balance as of December 31, 2020	$	26,983

During the fourth quarter of 2018, as a result of changing market conditions, the fair value of the JV was assessed, and we recorded an impairment of $16.6 million against our investment in the JV. The fair value assessment was significantly affected by changes in our assessment of future growth rates. During the first quarter of 2020, the goodwill impairment testing trigger caused us to test the JV for impairment as well. Based on our analysis, no impairment charge was deemed necessary. It is reasonably possible that material deviation of future performance from the estimates used in the March 31, 2020, impairment test could result in additional impairment to our investment in the JV in subsequent periods.

Income Taxes

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Income Taxes

The following table summarizes the loss from continuing operations before benefit (provision) for income taxes and share of net income (loss) from joint venture.


	Year Ended December 31,
	2020		2019		2018
United States	$	(146,963)	$	(31,760)	$	(200,164)
Foreign	(5,125)		(365)		(8,214)
Loss from continuing operations before benefit (provision) for income taxes and share of net income (loss) from joint venture	$	(152,088)	$	(32,125)	$	(208,378)

The following table summarizes total income tax expense (benefit) recognized in each year.


	Year Ended December 31,
	2020		2019		2018
Current taxes:
U.S. Federal	$	(299)	$	(5,948)	$	5,684
State	4,599		1,656		58
Foreign	2,250		2,247		2,271
Total current tax expense (benefit)	6,550		(2,045)		8,013
Deferred taxes:
U.S. Federal	$	(10,368)	$	(1,430)	$	(6,028)
State	(5,368)		3,850		(214)
U.S. federal and foreign valuation allowance	2,066		(592)		2,263
Foreign	(1,852)		522		(5,582)
Total deferred tax expense (benefit)	(15,522)		2,350		(9,561)
Total income tax expense (benefit)	$	(8,972)	$	305	$	(1,548)

The following table presents a reconciliation of income taxes based on the U.S. federal statutory income tax rate.


	Year Ended December 31,
	2020		2019		2018
U.S federal statutory income tax rate	21.0	%	21.0	%	21.0	%
Change in valuation allowance, exclusive of state	(1.3)	%	1.8	%	(1.1)	%

State taxes, net of federal taxes, exclusive of tax reform	0.2	%	(13.6)	%	0.1	%
Non-U.S. earnings taxed at different rates	1.4	%	3.0	%	0.3	%

GILTI	(0.1)	%	—	%	—	%
Goodwill impairment	(12.7)	%	—	%	(17.7)	%
Nondeductible asset loss	—	%	(2.2)	%	(0.2)	%

Research and development tax credit	0.4	%	2.2	%	0.3	%
Change in uncertain tax positions	2.2	%	4.3	%	0.5	%
Impact of tax reform:
Toll charge, net of foreign tax credit	—	%	—	%	0.7	%
Remeasurement of deferred taxes pursuant to tax reform	—	%	—	%	(1.2)	%

Impact of 2019 Treasury regulations	—	%	(18.4)	%	—	%

CARES Act	2.7	%	—	%	—	%

Divestiture of business segment, exclusive of tax reform	—	%	—	%	(1.1)	%
Return to provision	(0.5)	%	(0.2)	%	(1.0)	%

Taxes on unremitted foreign earnings	(3.9)	%	(2.2)	%	—	%
Restructuring gain	(2.6)	%	—	%	—	%


Other adjustments, net	(0.9)	%	3.3	%	0.1	%
Effective tax rate	5.9	%	(1.0)	%	0.7	%

On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) was enacted. Among other provisions, the CARES Act allows for the carryback of certain tax losses and favorably impacts the deductibility of interest expense and depreciation. The CARES Act had a material impact on our consolidated financial statements, primarily due to enacted federal rate difference in the carryback periods, and has been accounted for in the benefit for income taxes for the twelve months ended December 31, 2020.

On October 6, 2020, we sold our Life Sciences business via a sale of our equity interest in Precision Engineered Products Holdings, Inc., a wholly owned U.S. domestic subsidiary. Prior to the sale, we completed tax restructuring in which Precision Engineered Products Holdings, Inc., distributed to NN, Inc., all of its asset and equity holdings related to the Power Solutions segment. The restructuring process created a deferred gain, required to be realized upon the third party equity sale, equal to the fair market value of the distributed assets over tax basis. The associated U.S. federal, state and foreign tax impacts are reflected in the tables within this footnote. The tax impacts of the sale of the Life Sciences business are included in income from discontinued operations and excluded from the tables presented within this footnote. For comparative purposes, the prior period information contained in the tables in this footnote have been adjusted to exclude the Life Sciences business, unless otherwise noted.

Our effective tax rate for continuing operations was 5.9% for 2020. The 2020 effective tax rate for continuing operations differs from the U.S. federal statutory tax rate of 21% primarily due to (1) the impact of the impairment of nondeductible goodwill which is treated as a permanent difference and (2) the company’s accrual of taxes on unremitted earnings of foreign subsidiaries which may be repatriated.

Our effective tax rate for continuing operations was (1.0)% for 2019. The 2019 effective tax rate for continuing operations differs from the U.S. federal statutory tax rate of 21% principally due to a discrete tax charge of $6.0 million related to final tax regulations published by the Department of the Treasury and Internal Revenue Service on February 4, 2019. The tax rate was also impacted by valuation of its state tax attributes.

Our effective tax rate for continuing operations was 0.7% for 2018. The 2018 effective tax rate for continuing operations differs from the U.S. federal statutory income tax rate of 21% primarily due to the impact of goodwill impairment which was nondeductible for tax purposes.

The following table summarizes the principal components of the deferred tax assets and liabilities.


	As of December 31,
	2020		2019
Deferred income tax liabilities:
Tax in excess of book depreciation	$	27,459	$	28,329

Intangible assets	23,695		26,474


Operating leases	11,149		12,697
Taxes on unremitted foreign earnings	6,601		—
Other deferred tax liabilities	533		2,178
Total deferred income tax liabilities	69,437		69,678
Deferred income tax assets:
Interest expense limitation	3,811		14,073
Goodwill	25,653		386
Inventories	3,224		2,447
Interest rate swap	3,611		2,838
Pension/Personnel accruals	2,909		1,669
Operating leases	13,209		14,438
Net operating loss carryforwards	18,659		15,486

R&D credit carryforwards	—		2,463
Non-U.S. credit carryforwards	3,574		3,419
Accruals and reserves	2,399		2,335
Other deferred tax assets	2,891		1,157
Deferred income tax assets before valuation allowance	79,940		60,711
Valuation allowance on deferred tax assets	(21,681)		(15,494)
Total deferred income tax assets	58,259		45,217
Net deferred income tax liabilities	$	11,178	$	24,461

As of December 31, 2020, we had no U.S. federal net operating loss (“NOL”) carryover, $3.8 million of consolidated state NOL carryovers, and $234.8 million of separate state NOL carryovers. The state NOLs begin to expire in 2030. Management believes that certain of the state NOL carryovers will more likely than not expire prior to utilization. As such, a valuation allowance of $12.6 million (net of federal benefit) has been established to reduce the state attribute balance to the amount

expected to be utilized before expiration. We also have $6.1 million, tax-effected, of foreign NOL carryovers at December 31, 2020. The foreign NOLs have an indefinite life; however, management believes that benefit for certain of the foreign NOLs may not be realized. Therefore, we have established a valuation allowance of $3.1 million to reduce the carrying value of the asset related to foreign NOLs to the amount that has been determined to be more likely than not realized.

We have $0.2 million of state credit carryforwards and $0.7 million of other consolidated state deferred tax assets for which we believe recognition is not appropriate. In addition, we have $3.4 million of tax credits in other foreign jurisdictions as of December 31, 2020. The tax credits in these jurisdictions begin to expire in 2026. Valuation allowances have been recorded for these state and foreign items accordingly.

We have a U.S. federal and state deferred tax asset related to currency losses on intercompany loans. Management believes it is more likely than not that the benefit for the asset will not be realized based on timing of expected repayment of the intercompany loans. We have established a valuation allowance of $1.7 million to eliminate the carrying value of this asset.

Management believes all remaining tax assets will more likely than not be realized. However, the amount of the deferred tax considered realizable could be reduced based on changing conditions.

During 2020, the state valuation allowance increased by approximately $3.1 million, primarily due to a valuation allowance recorded to offset the current year generation of separate state loss carryforwards that management does not believe are realizable given anticipated changes in state nexus. The federal valuation allowance increased by approximately $1.0 million, to offset current year changes in unrealized exchange losses on intercompany loans. The foreign valuation allowance increased by $2.2 million in 2020 primarily to offset current year loss generation in jurisdictions where realization of the asset is not more likely than not.

As a result of the deemed mandatory repatriation provisions in the Tax Act and our recognition in income of GILTI as part of the changes from the Tax Act, we do not have material basis differences related to cumulative unremitted earnings for U.S. income tax purposes. However, we continue to evaluate quarterly the impact that repatriation of foreign earnings would have on withholding and other taxes. As of December 31, 2020, we have recorded a liability of $6.6 million for the anticipated withholding taxes that would be due upon repatriation of the unremitted earnings of those subsidiaries for which management does not intend to permanently reinvest all earnings.

We are subject to U.S. federal income tax as well as tax in several foreign jurisdictions. We are also subject to tax by various state authorities. The tax years subject to examination vary by jurisdiction. We are no longer subject to U.S. federal examination for periods before 2017. During 2020 we concluded, with no material findings, an audit by French tax authorities for the 2016 tax year. We regularly assess the outcomes of both ongoing and future examinations for the current or prior years to ensure our provision for income taxes is sufficient. We recognize liabilities based on estimates of whether additional taxes will be due, and we believe our reserves are adequate in relation to any potential assessments. The outcome of any one examination, some of which may conclude during the next twelve months, is not expected to have a material impact on our financial position or results of operations.

Interest and penalties related to federal, state, and foreign income tax matters are recorded as a component of the provision for income taxes in our Consolidated Statements of Operations and Comprehensive Income (Loss). Accrued interest and penalties of $0.6 million, $1.5 million, and $1.3 million are included in other non-current liabilities as of December 31, 2020, 2019, and 2018, respectively.

The following table presents a reconciliation of the beginning and ending amounts of unrecognized tax benefits, excluding interest and penalties.


	Year Ended December 31,
	2020		2019		2018
Balance at beginning of year	$	2,589	$	4,609	$	5,655
Additions for tax positions of prior years	121		—		304
Settlements for tax positions of prior years	—		(275)		—
Reductions for tax positions of prior years	(2,463)		(1,745)		(1,350)
Balance at end of year	$	247	$	2,589	$	4,609

The reduction to unrecognized tax benefits in 2020 is related to (1) expiring statutes of limitations in certain U.S. state and foreign jurisdictions and (2) the remeasurement of previously unrecognized tax benefits. As of December 31, 2020, the unrecognized tax benefits would, if recognized, impact our effective tax rate by $0.8 million, inclusive of the impact of interest and penalties. Management believes that it is reasonably possible that the amount of unrecognized income tax benefits, including interest and penalties, may not decrease during the next twelve months as no statutes are expected to lapse within the period.

We operate under tax holidays in other countries, which are effective through December 31, 2026, and may be extended if certain additional requirements are satisfied. The tax holidays are conditional upon our meeting certain employment and investment thresholds. The impact of these tax holidays decreased foreign taxes by $0.2 million for 2020. The tax holidays had no impact on our 2019 and 2018 foreign taxes.

Restructuring and Related Activities [Abstract]

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Debt

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Debt

Collectively, our credit facility is comprised of a term loan with a face amount of $545.0 million, maturing on October 19, 2022 (the “Senior Secured Term Loan”); a term loan with a face amount of $300.0 million, maturing on October 19, 2022 (the “Incremental Term Loan”); and a revolving line of credit with a face amount of $60.0 million, maturing on July 20, 2022 (the “Senior Secured Revolver”). The credit facility is collateralized by all of our assets.

The following table presents outstanding debt balances as of December 31, 2020 and 2019.


	As of December 31,
	2020		2019
Senior Secured Term Loan	$	47,728	$	526,313
Incremental Term Loan	22,716		257,111

International lines of credit and other loans	14,418		9,579
Total principal	84,862		793,003
Less-current maturities of long-term debt	4,885		19,106
Principal, net of current portion	79,977		773,897
Less-unamortized debt issuance costs (1)	952		16,647
Long-term debt, net of current portion	$	79,025	$	757,250

_______________________________

(1) In addition to this amount, costs of $1.8 million and $3.0 million related to the Senior Secured Revolver are recorded in other non-current assets as of December 31, 2020, and December 31, 2019, respectively.

We capitalized interest costs of $0.2 million, $1.5 million, and $1.1 million in the years ended December 31, 2020, 2019, and 2018, respectively, related to construction in progress.

In August 2020, we entered into an agreement to sell our Life Sciences business (see Note 2). The sale closed on October 6, 2020, at which time we received cash proceeds of $757.2 million. We immediately prepaid $700.0 million in the aggregate on the Senior Secured Term Loan and the Incremental Term Loan. We also paid in full the outstanding balance on the Senior Secured Revolver. The prepayment was applied to debt in accordance with the prepayment provisions of the credit agreement immediately after the transaction closed on October 6, 2020. See Note 2 for a description of the methodology for allocating debt-related costs in historical periods to discontinued operations.

Senior Secured Term Loan

Outstanding borrowings under the Senior Secured Term Loan bear interest at one-month LIBOR (subject to a 0.75% floor) plus an applicable margin of 5.75%. At December 31, 2020, the Senior Secured Term Loan bore interest at 6.50%.

Incremental Term Loan

Outstanding borrowings under the Incremental Term Loan bear interest at one-month LIBOR plus an applicable margin of 5.75%. At December 31, 2020, the Incremental Term Loan bore interest at 5.90%.

Senior Secured Revolver

Outstanding borrowings under the Senior Secured Revolver bear interest on a variable rate structure at either 1) one-month LIBOR plus an applicable margin of 4.00% or 2) the prime lending rate plus an applicable margin of 3.00%. We pay a commitment fee of 0.50% for unused capacity under the Senior Secured Revolver. We had no outstanding borrowings under the Senior Secured Revolver at December 31, 2020 or 2019. Total capacity under the Senior Secured Revolver was $60.0 million as of December 31, 2020, with $45.4 million available for future borrowings after reductions for outstanding letters of credit of $14.6 million. Our credit facility is subject to certain financial covenants based on a consolidated net leverage ratio, becoming more restrictive over time. We were in compliance with all covenants under our credit facility at December 31, 2020.

Debt Amendments

In July 2020, we amended our Credit Agreement to waive compliance with the financial leverage ratio covenant for the second and third quarters of 2020. During this period, we were required to maintain minimum liquidity levels, provide certain financial and other information, and take certain other action as specified in the amendment. Failure to maintain the required minimum liquidity levels or satisfy other requirements set forth in the amendment would allow the revolving credit lenders, the Senior Secured Term loan lenders, and the Incremental Term Loan lenders to cause amounts outstanding under our credit facility to become immediately due and payable and could have a material, adverse impact on our financial position.

In August 2020, we amended our Credit Agreement to obtain the lenders’ consent to the sale of the Life Sciences business, subject to certain terms and conditions. The amendment required a minimum of $675.0 million in cash proceeds from the sale. All cash proceeds, less certain allowable costs, were required by the amendment to be used to prepay the Senior Secured Term Loan and the Incremental Term Loan. The amendment also required a minimum $15.0 million payment on the Senior Secured Revolver and reduced total capacity from $75.0 million to $60.0 million immediately after the sale of the Life Sciences business. The capacity will decrease to $50.0 million on June 30, 2021. The amendment requires cash in excess of $35.0 million on the last day of each month to be used to pay down the Senior Secured Revolver. Liquidity thresholds were amended so that the threshold decreases commensurate with any principal payment on the Senior Secured Revolver.

We were in compliance with all covenants under our credit facility at December 31, 2020.

We capitalized a total of $0.4 million in new debt issuance costs related to the July 2020 and August 2020 amendments. Costs related to the Senior Secured Term Loan and the Incremental Term Loan are recorded as a direct reduction to the carrying amount of the associated long-term debt. Costs related to the Senior Secured Revolver are recorded in other non-current assets. Additionally, $1.5 million of unamortized debt issuance costs were written off in the twelve months ended December 31, 2020, in connection with the July 2020 and August 2020 amendments. See Note 2 for a description of the methodology for allocating amortization and write-offs of debt issuance costs in historical periods to discontinued operations.

International Lines of Credit and Other Loans

International lines of credit and other loans consist of loans with financial institutions in France, Brazil, China, and the United States with a weighted average interest rate of 2.77% as of December 31, 2020. These sources are used to fund working capital and equipment purchases for our manufacturing plants and have a weighted average remaining term of 6.7 years. As of December 31, 2020, the international lines of credit and other loans had $14.4 million outstanding of which $4.5 million is classified as “Current maturities of long-term debt” on the Consolidated Balance Sheets.

Interest Rate Swap

In February 2019, we entered into a $700.0 million amortizing notional amount fixed-rate interest rate swap agreement to manage the interest rate risk associated with our long-term variable-rate debt until 2022. The fixed-rate interest rate swap agreement calls for us to receive interest monthly at a variable rate equal to one-month LIBOR and to pay interest monthly at a fixed rate of 2.4575%.

Future Maturities

The following table lists aggregate maturities of long-term debt for the next five years and thereafter.


Year Ending December 31,	Aggregate Maturities Principal Amounts
2021	$	4,885
2022	71,664
2023	1,632
2024	1,474
2025	1,553
Thereafter	3,654
Total outstanding principal	$	84,862

Leases

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Leases

We adopted ASC 842 on January 1, 2019, and elected the modified retrospective approach in which the new standard is applied to all leases existing at the date of adoption through a cumulative-effect adjustment of less than $0.1 million to accumulated deficit. Consequently, financial information is not updated, and the disclosures required under the new standard are not provided for periods prior to January 1, 2019. As part of the adoption, we elected the package of practical expedients, the short-term lease exemption, and the practical expedient to not separate lease and non-lease components. Accordingly, we accounted for our existing operating leases as operating leases under the new standard, without reassessing (a) whether the contracts contain a lease under ASC 842, (b) whether classification of the operating leases would be different in accordance with ASC 842, or (c) whether any unamortized initial direct costs would have met the definition of initial direct costs in ASC 842 at lease commencement.

We determine whether an arrangement is a lease at inception. Right-of-use (“ROU”) lease assets represent our right to use an underlying asset for the lease term, and lease liabilities represent our obligation to make lease payments arising from the lease. ROU lease assets and liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. When the implicit rate is not readily determinable, we use the estimated incremental borrowing rate based on the information available at the lease commencement date in determining the present value of lease payments. The lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Amortization of ROU lease assets is recognized in expense on a straight-line basis over the lease term.

Short-term leases are leases having a term of twelve months or less. We recognize short-term leases on a straight-line basis and do not record a related lease asset or liability for such leases. Finance lease ROU assets consist primarily of equipment used in the manufacturing process with terms greater than two years to seven years. Operating lease ROU assets consist of the following:

•Equipment used in the manufacturing process as well as office equipment with terms two years to five years; and

•Manufacturing plants and office facilities with terms two years to twenty years.

The following table presents components of lease expense:


		Years Ended December 31,
	Financial Statement Line Item	2020		2019
Finance lease cost:
Amortization of right-of-use assets	Depreciation and amortization	$	1,272	$	1,229
Interest expense	Interest expense	192		226
Operating lease cost	Cost of sales and selling, general, and administrative expense	8,396		9,108
Short-term lease cost (1)	Cost of sales and selling, general, and administrative expense	591		479
Variable lease cost (2)	Cost of sales and selling, general, and administrative expense	1		1
Total lease cost		$	10,452	$	11,043

_______________________________

(1) Excludes expenses related to leases with a lease term of one month or less.

(2) Represents changes to index-based lease payments.

The following table presents lease-related assets and liabilities recorded on the balance sheet.


		As of December 31,
	Financial Statement Line Item	2020		2019
Assets:
Operating lease assets	Operating lease right-of-use assets	$	50,264	$	45,452
Finance lease assets	Property, plant and equipment, net	14,644		13,267
Total lease assets		$	64,908	$	58,719

Liabilities:
Current liabilities:
Operating lease liabilities	Current portion of operating lease liabilities	$	4,797	$	4,288
Finance lease liabilities	Other current liabilities	4,252		2,701
Non-current liabilities:
Operating lease liabilities	Operating lease liabilities, net of current portion	55,053		48,575
Finance lease liabilities	Other non-current liabilities	6,858		7,911
Total lease liabilities		$	70,960	$	63,475

The following table contains supplemental cash flow information related to leases of continuing operations.


	Years Ended December 31,
	2020		2019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows used in finance leases	$	192	$	226
Operating cash flows used in operating leases	13,498		14,090
Financing cash flows used in finance leases	2,018		3,156
Right-of-use assets obtained in exchange for new finance lease liabilities	$	728	$	5,250
Right-of-use assets obtained in exchange for new operating lease liabilities (1)	$	8,682	$	8,457

_______________________________

(1) Includes new leases, renewals, and modifications.

As of December 31, 2020, the weighted average remaining lease term and weighted-average discount rate for finance and operating leases of continuing operations were as follows:


	Years Ended December 31,
	2020		2019
Weighted-average remaining lease term - finance leases	3.2 years		4.0 years
Weighted-average remaining lease term - operating leases	11.7 years		11.0 years
Weighted-average discount rate - finance leases	2.2	%	2.2	%
Weighted-average discount rate - operating leases	7.0	%	5.7	%

The maturities of lease liabilities greater than twelve months as of December 31, 2020, is as follows:


	Operating Leases		Finance Leases
2021	$	9,348	$	4,442
2022	8,485		3,107
2023	7,370		2,365
2024	7,276		1,122
2025	7,194		223
Thereafter	48,523		210
Total future minimum lease payments	88,196		11,469
Less: imputed interest	28,346		359
Total lease liabilities	$	59,850	$	11,110

As of December 31, 2019, we had an operating lease commitment that had not yet commenced. In March 2020, the operating lease for the manufacturing facility commenced and requires us to pay a total of approximately $27.5 million base rent payments over the lease term of 15 years. We began making rent payments in the third quarter of 2020.

In March 2020, we amended the lease of our corporate headquarters building to exit over half of the previously leased space and reduce annual base rent payments by approximately $1.3 million over the remaining lease term which ends in 2030. The amendment was accounted for as a lease modification, and the remeasurement of the lease resulted in an $8.1 million decrease in the operating lease right-of-use (“ROU”) asset, a $10.5 million decrease in the noncurrent portion of the operating lease liability, and a $0.6 million decrease in the current portion of the operating lease liability. The $3.0 million difference between the change in the operating lease ROU asset and the operating lease liabilities was recognized in “Other operating expense, net,” on the Consolidated Statements of Operations and Comprehensive Income (Loss). In connection with the discontinued use of the previously leased space, we also recognized a $4.4 million termination charge and a $2.9 million impairment charge on the associated leasehold improvements, all of which were also recognized in “Other operating expense, net.”

During the second quarter of 2020 and as part of our overall plan to improve liquidity during the COVID-19 pandemic, we negotiated with certain lessors to defer rent payments on leased buildings. In total, $0.5 million of operating lease payments for continuing operations were deferred over a period ranging from April 2020 to December 2020 and are being repaid over a period ranging from June 2020 through December 2022. The deferral of rent payments did not result in a substantial change in total lease payments over the individual lease terms. We have elected to apply lease accounting relief announced by the FASB in April 2020 and have treated these lease concessions as if they existed in the original contracts rather than applying lease modification accounting. The net impact on cash flows from operating activities on the Consolidated Statements of Cash Flows for the twelve months ended December 31, 2020, was $0.7 million in cash savings which includes $0.4 million related to continuing operations.

During the year ended December 31, 2018, we recognized rent expense of $8.7 million in continuing operations.

Leases

•Equipment used in the manufacturing process as well as office equipment with terms two years to five years; and

•Manufacturing plants and office facilities with terms two years to twenty years.

The following table presents components of lease expense:


		Years Ended December 31,
	Financial Statement Line Item	2020		2019
Finance lease cost:
Amortization of right-of-use assets	Depreciation and amortization	$	1,272	$	1,229
Interest expense	Interest expense	192		226
Operating lease cost	Cost of sales and selling, general, and administrative expense	8,396		9,108
Short-term lease cost (1)	Cost of sales and selling, general, and administrative expense	591		479
Variable lease cost (2)	Cost of sales and selling, general, and administrative expense	1		1
Total lease cost		$	10,452	$	11,043

_______________________________

(1) Excludes expenses related to leases with a lease term of one month or less.

(2) Represents changes to index-based lease payments.

The following table presents lease-related assets and liabilities recorded on the balance sheet.


		As of December 31,
	Financial Statement Line Item	2020		2019
Assets:
Operating lease assets	Operating lease right-of-use assets	$	50,264	$	45,452
Finance lease assets	Property, plant and equipment, net	14,644		13,267
Total lease assets		$	64,908	$	58,719

Liabilities:
Current liabilities:
Operating lease liabilities	Current portion of operating lease liabilities	$	4,797	$	4,288
Finance lease liabilities	Other current liabilities	4,252		2,701
Non-current liabilities:
Operating lease liabilities	Operating lease liabilities, net of current portion	55,053		48,575
Finance lease liabilities	Other non-current liabilities	6,858		7,911
Total lease liabilities		$	70,960	$	63,475

The following table contains supplemental cash flow information related to leases of continuing operations.


	Years Ended December 31,
	2020		2019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows used in finance leases	$	192	$	226
Operating cash flows used in operating leases	13,498		14,090
Financing cash flows used in finance leases	2,018		3,156
Right-of-use assets obtained in exchange for new finance lease liabilities	$	728	$	5,250
Right-of-use assets obtained in exchange for new operating lease liabilities (1)	$	8,682	$	8,457

_______________________________

(1) Includes new leases, renewals, and modifications.

As of December 31, 2020, the weighted average remaining lease term and weighted-average discount rate for finance and operating leases of continuing operations were as follows:


	Years Ended December 31,
	2020		2019
Weighted-average remaining lease term - finance leases	3.2 years		4.0 years
Weighted-average remaining lease term - operating leases	11.7 years		11.0 years
Weighted-average discount rate - finance leases	2.2	%	2.2	%
Weighted-average discount rate - operating leases	7.0	%	5.7	%

The maturities of lease liabilities greater than twelve months as of December 31, 2020, is as follows:


	Operating Leases		Finance Leases
2021	$	9,348	$	4,442
2022	8,485		3,107
2023	7,370		2,365
2024	7,276		1,122
2025	7,194		223
Thereafter	48,523		210
Total future minimum lease payments	88,196		11,469
Less: imputed interest	28,346		359
Total lease liabilities	$	59,850	$	11,110

During the year ended December 31, 2018, we recognized rent expense of $8.7 million in continuing operations.

Restructuring and Integration

12 Months Ended

Dec. 31, 2020

Restructuring and Integration

The following table presents restructuring and integration charges for the years ended December 31, 2019 and 2018. There were no restructuring and integration charges for the year ended December 31, 2020.


	Mobile Solutions		Corporate and Consolidations		Total




Year Ended December 31, 2019

Site closure and other associated costs	$	(12)	$	—	$	(12)
Total	$	(12)	$	—	$	(12)
Year Ended December 31, 2018
Severance and other employee costs	$	—	$	626	$	626
Site closure and other associated costs	63		—		63
Total	$	63	$	626	$	689

The following tables present restructuring and integration reserve activity for the years ended December 31, 2019 and 2018. There was no restructuring and integration reserve activity for the year ended December 31, 2020.







	Reserve Balance as of December 31, 2018		Charges		Non-cash Adjustments		Cash Reductions		Reserve Balance as of December 31, 2019
Severance and other employee costs	$	129	$	—	$	—	$	(129)	$	—
Site closure and other associated costs	24		(12)		—		(12)		—
Total	$	153	$	(12)	$	—	$	(141)	$	—

	Reserve Balance as of December 31, 2017		Charges		Non-cash Adjustments		Cash Reductions		Reserve Balance as of December 31, 2018
Severance and other employee costs	$	—	$	626	$	—	$	(497)	$	129
Site closure and other associated costs	1,099		63		(56)		(1,082)		24
Total	$	1,099	$	689	$	(56)	$	(1,579)	$	153

In 2018, we recognized severance and other employee costs of $0.6 million at corporate headquarters related to the restructuring of our former Precision Engineered Products Group, effective January 2, 2018.

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Brazil ICMS Tax Matter Prior to the acquisition of Autocam Corporation in 2014 (“Autocam”), Autocam’s Brazilian subsidiary (“Autocam Brazil”) received notification from the Brazilian tax authority regarding ICMS (state value added tax or “VAT”) tax credits claimed on intermediary materials (e.g., tooling and perishable items) used in the manufacturing process. The Brazilian tax authority notification disallowed state ICMS tax credits claimed on intermediary materials based on the argument that these items are not intrinsically related to the manufacturing processes. Autocam Brazil filed an administrative defense with the Brazilian tax authority arguing, among other matters, that it should qualify for an ICMS tax credit, contending that the intermediary materials are directly related to the manufacturing process. We believe that we have substantial legal and factual defenses, and we plan to defend our interests in this matter vigorously. The matter encompasses several lawsuits filed with the Brazilian courts requesting declaratory actions that no tax is due or seeking a stay of execution on the collection of the tax. In 2018, we obtained a favorable decision in one of the declaratory actions for which the period for appeal has expired. We have filed actions in each court requesting dismissal of the matter based on the earlier court action. In May 2020, we received an unfavorable decision in one of the lawsuits, and as a result have recorded a liability to the Brazilian tax authorities and a receivable from the former shareholders of Autocam for the same amount. Although we anticipate a favorable resolution to the remaining matters, we can provide no assurances that we will be successful in achieving dismissal of all pending cases. The U.S. dollar amount that would be owed in the event of an unfavorable decision is subject to interest, penalties, and currency impacts and therefore is dependent on the timing of the decision. For the remaining open lawsuits, we currently believe the cumulative potential liability in the event of unfavorable decisions on all matters will be less than $5.0 million, inclusive of interest and penalties. We are entitled to indemnification from the former shareholders of Autocam, subject to the limitations and procedures set forth in the agreement and plan of merger relating to the Autocam acquisition. Management believes the indemnification would include amounts owed for the tax, interest, and penalties related to this matter. Accordingly, we don’t expect to incur a loss related to this matter even in the event of an unfavorable decision and, therefore, have not accrued an amount for the remaining matters as of December 31, 2020. Securities Offering Matter On November 1, 2019, Erie County Employees’ Retirement System, on behalf of a purported class of plaintiffs, filed a complaint in the Supreme Court of the State of New York, County of New York, against the Company, certain of the Company’s current and former officers and directors, and each of the underwriters involved in the Company’s public offering and sale of 14.4 million shares of its common stock pursuant to a preliminary prospectus supplement, dated September 10, 2018, a final prospectus supplement, dated September 13, 2018, and a base prospectus, dated April 19, 2017, relating to the Company’s effective shelf registration statement on Form S-3 (File No. 333-216737) (the “Offering”), which complaint was amended on January 24, 2020. The complaint alleges violations of Sections 11, 12(a)(2), and 15 of the Securities Act of 1933 in connection with the Offering. The plaintiffs seek to represent a class of stockholders who purchased shares of the Company’s common stock in the Offering. The complaint seeks unspecified monetary damages and other relief. The Company believes the complaint and allegations to be without merit and intends to vigorously defend itself against these actions. The Company is unable at this time to determine whether the outcome of the litigation would have a material impact on the Company’s financial position, results of operations, or cash flows. All Other Legal Matters On October 26, 2020, Corre Opportunities Qualified Master Fund, LP, and Corre Horizon Fund, LP, filed a complaint in the Chancery Court of the State of Delaware against the Company. The complaint alleges that the Company’s sale of its Life Sciences business without obtaining the prior consent of the plaintiffs was a breach of the terms of the Series B Preferred Stock. The complaint seeks unspecified monetary damages and other relief. The Company believes the complaint and allegations to be without merit and intends to vigorously defend itself against these actions. The Company is unable at this time to determine whether the outcome of the litigation would have a material impact on the Company’s financial position, results of operations, or cash flows. All other legal proceedings are of an ordinary and routine nature and are incidental to our operations. Management believes that such proceedings should not, individually or in the aggregate, have a material adverse effect on our business, financial condition, results of operations, or cash flows. In making that determination, we analyze the facts and circumstances of each case at least quarterly in consultation with our attorneys and determine a range of reasonably possible outcomes.

Preferred Stock and Stockholders' Equity

12 Months Ended

Dec. 31, 2020

Preferred Stock and Stockholders' Equity

Series B Convertible Preferred Stock

On December 11, 2019, we issued to affiliates of existing common stockholders in a private placement 0.1 million shares of contingently redeemable Series B convertible preferred stock (“Preferred Stock”), par value of $0.01 per share and at a price of $1,000 per share, together with detachable warrants (the “Warrants”) to purchase up to 1.5 million shares of our common stock at an exercise price of $12.00 per share. The Preferred Stock has a liquidation preference of $1,000 per share; is redeemable at our option in cash (or, under certain circumstances, in stock), subject to the applicable redemption premium; is convertible into a variable number of common shares on certain terms and conditions on or after March 31, 2023; and is subject to certain other rights and obligations. In connection with the issuance of Preferred Stock, we entered into a registration rights agreement with the purchasers to provide certain customary demand registration rights exercisable beginning on March 31, 2021, with respect to their shares of common stock, including those underlying the Preferred Stock and Warrants, shares of Preferred Stock, and the Warrants.

Net cash proceeds of $95.7 million from the issuance of the Preferred Stock were used for debt repayment, fees associated with the amendment and extension of our credit facility, and for general corporate purposes. Preferred Stock shares earn cumulative dividends at a rate of 10.625% per year, payable quarterly in arrears if declared, and accrue whether or not earned or declared. If a Preferred Stock dividend is declared by the Board of Directors, then it will be paid in cash. Additionally, holders of Preferred Stock participate in any dividends paid on shares of our common stock on an as-converted basis at a fixed conversion rate. Our common stockholders approved a proposal at our 2020 annual stockholder meeting to issue common stock in excess of thresholds established by certain Nasdaq stock market rules upon the exercise of Warrants or the conversion or redemption of Preferred Stock.

Preferred Stock is classified as mezzanine equity, between liabilities and stockholders’ equity, because certain features of the Preferred Stock could require redemption of some or all Preferred Stock upon events that are considered not solely within our control, including a leverage ratio threshold and the passage of time. For initial recognition in 2019, the Preferred Stock was recognized at a discounted value, net of issuance costs and allocation to warrants and bifurcated embedded derivatives. The aggregate discount is amortized as a deemed dividend through December 31, 2023, which is the date the holders have a non-contingent conversion option into a variable number of common shares equal to the liquidation preference plus accrued and unpaid dividends. Deemed dividends adjust retained earnings (or in the absence of retained earnings, additional paid-in capital).

In accordance with ASC 815-15, Derivatives and Hedging - Embedded Derivatives, (“ASC 815-15”) certain features of the Preferred Stock were bifurcated and accounted for as derivatives separate from the Preferred Stock. Note 21 discusses the accounting for these features.

As of December 31, 2020, the carrying value of the Preferred Stock shares was $105.1 million which included $13.0 million of accumulated unpaid and deemed dividends. The following table presents the change in the Preferred Stock carrying value during the year ended December 31, 2020.


	Years Ended December 31,
	2020		2019
Beginning balance	$	93,012	$	—
Gross proceeds from issuance of shares	—		100,000
Relative fair value of Warrants issued	—		(1,076)
Recognition of bifurcated embedded derivative	—		(2,295)
Allocation of issuance costs to Preferred Stock	—		(4,259)
Accrual of in-kind dividends	11,121		590
Amortization and other	953		52
Ending balance	$	105,086	$	93,012

Common Stock

In September 2018, we issued 14.4 million shares of our common stock in a public offering under our shelf registration statement at a price of $16.00 per share. Net proceeds of $217.3 million were used to repay debt.

Preferred Share Purchase Rights

On April 15, 2020, our Board of Directors authorized and declared a dividend of one preferred share purchase right for each outstanding share of common stock to shareholders of record on April 27, 2020. The rights will become exercisable if a person or group becomes the beneficial owner of 15% or more of our outstanding common stock (including in the form of synthetic ownership through derivative positions). In the event that the rights become exercisable due to the triggering ownership threshold being crossed, each right will entitle its holder to purchase one thousandth of a share of Series C Junior Participating Preferred Stock for $31.50 per share. Rights held by the triggering person or entity will become void and will not be exercisable. The Board of Directors may, rather than permitting the exercise of the rights, exchange each right (other than rights held by the triggering person or entity) for one share of common stock per right, subject to adjustment. The Board of Directors will, prior to the rights becoming exercisable, in general be entitled to redeem the rights for $0.001 per right. The rights expire on March 31, 2021.

Revenue from Contracts with Customers

12 Months Ended

Dec. 31, 2020

Revenue from Contract with Customer [Abstract]

Revenue from Contract with Customers

Revenue from Contracts with Customers

Revenue is recognized when control of the good or service is transferred to the customer either at a point in time or, in limited circumstances, as our services are rendered over time. Revenue is measured as the amount of consideration we expect to receive in exchange for transferring goods or services.


	Year Ended December 31, 2020
	Mobile Solutions		Power Solutions		Intersegment Sales Eliminations		Total
United States and Puerto Rico	$	129,147	$	139,499	$	(95)	$	268,551
China	46,442		5,563		—		52,005
Brazil	27,055		689		—		27,744
Mexico	16,465		13,400		—		29,865
Germany	5,846		378		—		6,224
Poland	4,913		14		—		4,927
Other	26,492		11,726		—		38,218
Total net sales	$	256,360	$	171,269	$	(95)	$	427,534


	Year Ended December 31, 2019
	Mobile Solutions		Power Solutions		Intersegment Sales Eliminations		Total
United States and Puerto Rico	$	162,445	$	156,945	$	(335)	$	319,055
China	38,793		6,722		—		45,515
Brazil	36,058		300		—		36,358
Mexico	18,815		13,489		—		32,304
Germany	6,372		65		—		6,437
Poland	6,363		15		—		6,378
Other	28,903		14,564		—		43,467
Total net sales	$	297,749	$	192,100	$	(335)	$	489,514


	Year Ended December 31, 2018
	Mobile Solutions		Power Solutions		Intersegment Sales Eliminations		Total
United States and Puerto Rico	$	187,178	$	157,357	$	(621)	$	343,914
China	43,610		5,537		—		49,147
Brazil	35,314		215		—		35,529
Mexico	27,053		12,254		—		39,307
Germany	5,652		26		—		5,678
Poland	7,010		13		—		7,023
Other	29,220		14,376		—		43,596
Total net sales	$	335,037	$	189,778	$	(621)	$	524,194

Product Sales

We generally transfer control and recognize a sale when we ship the product from our manufacturing facility to our customer, at a point in time, as this is when our customer obtains the ability to direct use of, and obtain substantially all of the remaining benefits from, the goods. We have elected to recognize the cost for freight and shipping when control over products has transferred to the customer as a component of cost of sales.

We use an observable price to determine the stand-alone selling price for separate performance obligations or a cost-plus-margin approach when an observable price is not available. The expected duration of our contracts is one year or less, and we have elected to apply the practical expedient that allows entities to disregard the effects of financing when the contract length is less than one year. The amount of consideration we receive and the revenue we recognize varies with volume rebates and incentives we offer to our customers. We estimate the amount of variable consideration that should be included in the transaction price utilizing the expected value method or the most likely amount method depending on the nature of the variable consideration. Variable consideration is included in the transaction price if, in our judgment, it is probable that a significant future reversal of cumulative revenue under the contract will not occur.

We utilize the portfolio approach practical expedient to evaluate sales-related discounts on a portfolio basis to contracts with similar characteristics. The effect on our consolidated financial statements of applying the portfolio approach would not differ materially from evaluation of individual contracts.

We give our customers the right to return only defective products in exchange for functioning products or rework of the product. These transactions are evaluated and accounted for under ASC Topic 460, Guarantees, and we estimate the impact to the transaction price based on an analysis of historical experience.

Other Sources of Revenue

We provide pre-production activities related to engineering efforts to develop molds, dies, and machines that are owned by our customers. We may receive advance payments from customers which are deferred until satisfying our performance obligations by compliance with customer-specified milestones, recognizing revenue at a point in time. These contracts generally have an original expected duration of less than one year.

Transaction Price Allocated to Future Performance Obligations

We are required to disclose the aggregate amount of transaction price that is allocated to performance obligations that have not yet been satisfied as of December 31, 2020, unless our contracts meet one of the practical expedients. Our contracts met the practical expedient for a performance obligation that is part of a contract that has an original expected duration of one year or less.

Costs to Obtain and Fulfill a Contract

We recognize commissions paid to internal sales personnel that are incremental to obtaining customer contracts as an expense when incurred since the amortization period is less than one year. Costs to obtain a contract are expensed as selling, general and administrative expense.

Sales, VAT, and other taxes we collect concurrent with revenue-producing activities are excluded from revenue. Incidental items that are immaterial in the context of the contract are recognized as expense.

Sales Concentration

We recognized sales from a single customer of $49.7 million, or 10% of consolidated net sales, during the year ended December 31, 2019, and $65.3 million, or 12% of consolidated net sales, during the year ended December 31, 2018. Revenues from this customer are in our Mobile Solutions segment and were less than 10% of consolidated net sales during the year ended December 31, 2020.

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Share-based Payment Arrangement [Abstract]

Share-Based Compensation

12 Months Ended

Dec. 31, 2020

Share-Based Compensation

We recognize compensation expense of all employee and non-employee director share-based compensation awards in the consolidated financial statements based upon the grant-date fair value of the awards over the requisite service or vesting period, less any expense incurred for estimated forfeitures. As of December 31, 2020, we have 2.7 million maximum shares available that can be issued as options, stock appreciation rights, and other share-based awards. Shares of our common stock delivered upon exercise or vesting may consist of newly issued shares of our common stock or shares acquired in the open market.

Share-based compensation expense is recognized in the “Selling, general, and administrative expense” line in the Consolidated Statements of Operations and Comprehensive Income (Loss) except for $0.8 million, $0.4 million, and $0.2 million attributable to discontinued operations for the twelve months ended December 31, 2020, 2019, and 2018, respectively. The following table lists the components of share-based compensation expense by type of award.


	Year Ended December 31,
	2020		2019		2018
Stock options	$	741	$	881	$	678
Restricted stock	3,473		1,897		1,630
Performance share units	755		1,155		2,076
Change in estimate of share-based award vesting (1)	(743)		(1,111)		(1,968)
Share-based compensation expense	$	4,226	$	2,822	$	2,416

_______________________________

(1) Amounts reflect the decrease in share-based compensation expense based on the change in estimate of the probability of vesting of share-based awards.

Unrecognized compensation cost related to unvested awards was $3.6 million as of December 31, 2020. We expect that cost to be recognized over a weighted-average period of 2.2 years.

Stock Options

Option awards are typically granted to key employees on an annual basis. A single option grant is typically awarded to eligible employees each year by the Compensation Committee of the Board of Directors. The Compensation Committee occasionally awards additional individual grants to eligible employees. All employees are awarded options at an exercise price equal to the closing price of our stock on the date of grant. The term life of options is generally ten years with a vesting period of generally three years.

During the years ended 2020, 2019, and 2018, we granted options to purchase 158,700, 210,400, and 57,800 shares, respectively, to certain key employees. The weighted average grant-date fair value of the options granted during 2020, 2019, and 2018 was $4.76, $2.77, and $10.60 per share, respectively. The fair value of our options cannot be determined by market

value because they are not traded in an open market. Accordingly, we utilized the Black Scholes financial pricing model to estimate the fair value.

The following table shows the weighted average assumptions relevant to determining the fair value of stock options granted in each year.


	2020		2019		2018
Expected term	6 years		6 years		6 years
Average risk-free interest rate	1.42	%	2.47	%	2.66	%
Expected dividend yield	—	%	3.53	%	1.15	%
Expected volatility	52.80	%	49.53	%	47.69	%
Expected forfeiture rate	—	%	4.00	%	4.00	%

The expected term is derived from using the simplified method of determining stock option terms as described under the SAB Topic 14, Share-based payment. The simplified method was used because sufficient historical stock option exercise experience was not available, primarily due to the transformation of the management structure over the past several years.

The average risk-free interest rate is derived from United States Department of Treasury published interest rates of daily yield curves for the same time period as the expected term.

The expected dividend yield is derived by a mathematical formula which uses the expected annual dividends over the expected term divided by the fair market value of our common stock at the grant date. The expected dividend yield for 2020 grants reflects no expected annual dividends over the expected term because we discontinued dividends in 2019.

The expected volatility rate is derived from our actual common stock historical volatility over the same time period as the expected term. The expected volatility rate is derived by a mathematical formula utilizing daily closing price data.

The expected forfeiture rate is determined from examining the historical pre-vesting forfeiture patterns of past option issuances to key employees. While the expected forfeiture rate is not an input of the Black Scholes financial pricing model for determining the fair value of the options, it is an important determinant of stock option compensation expense to be recorded.

The following table presents stock option activity for the year ended December 31, 2020.


	Number of Options (in thousands)	Weighted- Average Exercise Price (per share)		Weighted- Average Remaining Contractual Term (years)	Aggregate Intrinsic Value
Outstanding at January 1, 2020	775	$	13.24
Granted	159	9.44

Forfeited or expired	(63)	15.09
Outstanding at December 31, 2020	871	$	12.41	4.0 years	$	—	(1)
Exercisable at December 31, 2020	682	$	13.17	2.7 years	$	—	(1)

_______________________________

(1)The aggregate intrinsic value is the sum of intrinsic values for each exercisable individual option grant. The intrinsic value is the amount by which the closing market price of our stock at December 31, 2020, was greater than the exercise price of any individual option grant.

No options were exercised during the year ended December 31, 2020. Cash proceeds from the exercise of options in the years ended December 31, 2019 and 2018, totaled less than $0.1 million and $0.3 million, respectively. The tax benefit recognized from stock option exercises was less than $0.1 million and $0.1 million in the years ended December 31, 2019 and 2018, respectively. For the years ended December 31, 2019 and 2018, proceeds from stock options are presented exclusive of tax benefits in cash flows from financing activities in the Consolidated Statements of Cash Flows. The total intrinsic value of options exercised during the years ended December 31, 2019 and 2018, was $7.0 thousand and $0.5 million, respectively.

Restricted Stock

During the years ended December 31, 2020, 2019, and 2018, we granted 460,255, 339,498, and 86,516 shares of restricted stock to non-executive directors, officers, and certain other key employees. The shares of restricted stock granted during the years ended December 31, 2020, 2019, and 2018, vest pro-rata generally over three years for officers and certain other key employees and over one year for non-executive directors and certain key employees. We determined the fair value of the shares awarded by using the closing price of our common stock as of the date of grant. The weighted average grant-date fair value of

restricted stock granted in the years ended December 31, 2020, 2019, and 2018, was $9.35, $7.74, and $24.55 per share, respectively. The total grant-date fair value of restricted stock that vested in the years ended December 31, 2020, 2019, and 2018, was $1.9 million, $2.9 million, and $1.8 million, respectively.

The following table presents the status of unvested restricted stock awards as of December 31, 2020, and changes during the year then ended.


	Nonvested Restricted Shares (in thousands)	Weighted Average Grant-Date Fair Value (per share)
Unvested at January 1, 2020	222	$	9.33
Granted	460	9.35
Vested	(254)	7.31
Forfeited	(43)	9.17
Unvested at December 31, 2020	385	$	9.42

Performance Share Units

Performance Share Units (“PSUs”) are a form of long-term incentive compensation awarded to executive officers and certain other key employees designed to directly align the interests of employees to the interests of our stockholders, and to create long-term stockholder value. PSUs granted in 2020 were made pursuant to the NN, Inc. 2019 Omnibus Incentive Plan and a Performance Share Unit Agreement (the “2019 Omnibus Agreement”). PSUs granted in 2019 and 2018 were made pursuant to the NN, Inc. 2016 Omnibus Incentive Plan and a Performance Share Unit Agreement (the “2016 Omnibus Agreement”). Some PSUs are based on total shareholder return (“TSR Awards”), and other PSUs are based on return on invested capital (“ROIC Awards”).

The TSR Awards vest, if at all, upon our achieving a specified relative total shareholder return, which will be measured against the total shareholder return of the S&P SmallCap 600 Index during specified performance periods as defined in the 2019 Omnibus Agreement and the 2016 Omnibus Agreement. The ROIC Awards will vest, if at all, upon our achieving a specified average return on invested capital during the performance periods. Each performance period generally begins on January 1 of the year of grant and ends 36 months later on December 31.

We recognize compensation expense over the performance period in which the performance and market conditions are measured. If the PSUs do not vest at the end of the performance periods, then the PSUs will expire automatically. Upon vesting, the PSUs will be settled by the issuance of shares of our common stock, subject to the award recipient’s continued employment. The actual number of shares of common stock to be issued to each award recipient at the end of the performance periods will be interpolated between a threshold and maximum payout amount based on actual performance results. No dividends will be paid on outstanding PSUs during the performance period; however, dividend equivalents will be paid based on the number of shares of common stock that are ultimately earned at the end of the performance periods.

With respect to the TSR Awards, a participant will earn 50% of the target number of PSUs for “Threshold Performance,” 100% of the target number of PSUs for “Target Performance,” and 150% of the target number of PSUs for “Maximum Performance.” With respect to the ROIC Awards, a participant will earn 35% of the target number of PSUs for “Threshold Performance,” 100% of the target number of PSUs for “Target Performance,” and 150% of the target number of PSUs for “Maximum Performance.” For performance levels falling between the values shown below, the percentages will be determined by interpolation.

The following tables present the goals with respect to TSR Awards and ROIC Awards granted in 2020, 2019, and 2018.

TSR Awards:

Threshold Performance
(50% of Shares)

Target Performance
(100% of Shares)

Maximum Performance
(150% of Shares)

2020 grants

th Percentile

2019 grants

th Percentile

2018 grants

th Percentile


ROIC Awards:	Threshold Performance (35% of Shares)		Target Performance (100% of Shares)		Maximum Performance (150% of Shares)
2020 grants (1)	4.9	%	5.1	%	5.6	%
2019 grants	4.7	%	5.8	%	7.0	%
2018 grants	15.5	%	18.0	%	19.5	%

_______________________________

(1)The performance levels for 2020 grants were modified by the compensation committee of the board of directors in the first quarter of 2021 to adjust for the sale of the Life Sciences business and the ongoing effects of the COVID-19 pandemic. Threshold Performance was changed to 6.7% to earn 50% of Shares, Target Performance was changed to 7.9% to earn 100% of Shares, and Maximum Performance was changed to 8.7% to earn 150% of Shares.

We estimate the grant-date fair value of TSR Awards using the Monte Carlo simulation model, as the total shareholder return metric is considered a market condition under ASC Topic 718, Compensation – stock compensation. The grant-date fair value of ROIC Awards is based on the closing price of a share of our common stock on the date of grant.

The following table presents the number of PSUs granted and the grant-date fair value of each award in the periods presented.


	TSR Awards			ROIC Awards
Award Year	Shares (in thousands)	Grant-Date Fair Value (per share)		Shares (in thousands)	Grant-Date Fair Value (per share)
2020	139	$	10.88	157	$	9.44
2019	136	$	9.28	174	$	7.93
2018	55	$	24.65	55	$	24.55

We recognize expense for ROIC Awards based on the probable outcome of the associated performance condition. We generally recognize an expense for ROIC Awards based on the Target Performance threshold of 100% because, at the date of grant, the Target Performance is the probable level of performance achievement.

The following table presents the status of unvested PSUs as of December 31, 2020, and changes during the year then ended.


	Nonvested TSR Awards			Nonvested ROIC Awards
	Number of Shares (in thousands)	Weighted Average Grant-Date Fair Value		Number of Shares (in thousands)	Weighted Average Grant-Date Fair Value
Nonvested at January 1, 2020	65	$	13.27	79	$	11.50
Granted	139	10.88		157	9.44
Forfeited	(56)	11.89		(66)	10.32
Expired	(10)	24.65		(10)	24.55
Nonvested at December 31, 2020	138	$	10.58	160	$	9.13

None of the PSUs that were granted in 2016, 2017, and 2018 vested in 2018, 2019, and 2020, respectively, because the actual performance achieved was below the “Threshold Performance” level as defined by the grant agreements.

Change in Vesting Estimates

During the year ended December 31, 2020, we recognized a decrease in share-based compensation expense in continuing operations of $0.3 million in the “Selling, general, and administrative expense” line of the Consolidated Statements of Operations and Comprehensive Income (Loss) to reverse cumulative expense for option, restricted stock, and PSU awards that

were forfeited upon termination of employment and for ROIC Awards that were granted in 2019 and are not expected to achieve Threshold Performance. In 2020 we also recognized a decrease in share-based compensation expense of $0.5 million in the “Income (loss) from discontinued operations, net of tax” line in the Consolidated Statements of Operations and Comprehensive Income (Loss) to reverse cumulative expense for option, restricted stock, and PSU awards that were forfeited upon termination of employees related to the Life Sciences business.

During the year ended December 31, 2019, we recognized a decrease in share-based compensation expense in continuing operations of $1.1 million in the “Selling, general, and administrative expense” line in the Consolidated Statements of Operations and Comprehensive Income (Loss) to reverse cumulative expense for option, restricted stock, and PSU awards that were forfeited upon termination of employment.

During the year ended December 31, 2018, we determined that the probability of performance achievement for ROIC Awards that were granted in 2016, 2017, and 2018 diminished to below the “Threshold Performance” level as defined by the grant agreements, and we recognized a decrease in share-based compensation expense in continuing operations of $1.8 million in “Selling, general, and administrative expense” and $0.2 million in “Income (loss) from discontinued operations, net of tax” on the Consolidated Statements of Operations and Comprehensive Income (Loss).

Related accrued dividend equivalents of less than $0.1 million, $0.1 million, and $0.1 million were also reversed in 2020, 2019, and 2018, respectively, for awards that are not expected to vest.

Accumulated Other Comprehensive Income

12 Months Ended

Dec. 31, 2020

Accumulated Other Comprehensive Income

The components of accumulated other comprehensive income (“AOCI”) are as follows:


	Foreign Currency Translation		Interest rate swap		Income taxes (1)		Total
Balance at December 31, 2017	$	(17,705)	$	—	$	—	$	(17,705)

Current-period other comprehensive income (loss) activity	(13,609)		—		—		(13,609)
Balance at December 31, 2018	$	(31,314)	$	—	$	—	$	(31,314)
Other comprehensive income (loss) before reclassifications	(3,845)		(13,645)		3,166		(14,324)
Amounts reclassified from AOCI to interest expense (2)	—		1,411		(327)		1,084

Net current-period other comprehensive income (loss)	(3,845)		(12,234)		2,839		(13,240)
Balance at December 31, 2019	$	(35,159)	$	(12,234)	$	2,839	$	(44,554)
Other comprehensive income (loss) before reclassifications	(1,683)		(16,207)		3,764		(14,126)
Amounts reclassified from AOCI to interest expense (2)	—		8,906		(2,068)		6,838
Amounts reclassified from AOCI to loss on interest rate swap (3)	—		15,823		(3,674)		12,149
Sale of discontinued operations	5,961		—		—		5,961
Net current-period other comprehensive income (loss)	4,278		8,522		(1,978)		10,822
Balance at December 31, 2020	$	(30,881)	$	(3,712)	$	861	$	(33,732)

_______________________________

(1) Income tax effect of changes in interest rate swap.

(2) Represents settlements on the interest rate swap while the hedge was effective.

(3) Represents reclassification of derivative loss and settlements after discontinuation of hedge accounting. See Note 21 for further discussion of the interest rate swap.

Net Income (Loss) Per Share

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

Net Income (Loss) Per Share

Net Income (Loss) Per Common Share In accordance with ASC 260, Earnings Per Share, a company that has participating securities (for example, our Preferred Stock) is required to utilize the two-class method for calculating earnings per share (“EPS”) unless the treasury stock method results in lower EPS. The two-class method is an allocation of earnings between the holders of common stock and a company’s participating securities. Basic EPS is calculated by dividing income or loss attributable to common stockholders by the weighted average number of shares of common stock outstanding. To calculate diluted EPS, basic EPS is further adjusted to include the effect of potentially dilutive stock options, Warrants, and Preferred Stock.

The following table summarizes the computation of basic and diluted net income (loss) per common share.


	Years Ended December 31,
		2020		2019		2018
Numerator:
Loss from continuing operations		$	(139,490)	$	(30,749)	$	(221,220)
Less: Preferred Stock cumulative dividends and deemed dividends		(12,373)		(642)		—



Numerator for basic and diluted loss from continuing operations per common share (1)		(151,863)		(31,391)		(221,220)
Income (loss) from discontinued operations, net of tax (Note 2)		38,898		(15,992)		(41,767)



Numerator for basic and diluted undistributed net loss per common share (1)		$	(112,965)	$	(47,383)	$	(262,987)

Denominator:
Weighted average common shares outstanding, basic and diluted		42,199		42,030		31,678



Per common share net loss:
Basic loss from continuing operations per common share		$	(3.60)	$	(0.75)	$	(6.98)
Basic income (loss) from discontinued operations per common share		0.92		(0.38)		(1.32)
Basic net loss per common share		$	(2.68)	$	(1.13)	$	(8.30)
Diluted loss from continuing operations per common share		$	(3.60)	$	(0.75)	$	(6.98)
Diluted income (loss) from discontinued operations per common share		0.92		(0.38)		(1.32)
Diluted net loss per common share		$	(2.68)	$	(1.13)	$	(8.30)
Cash dividends declared per common share		$	—	$	0.21	$	0.28

_______________________________

(1) Preferred Stock does not participate in losses.

The following table presents potentially dilutive securities that were excluded from the calculation of diluted net income (loss) per common share because they had an anti-dilutive effect.


	Year Ended December 31,
	2020	2019	2018
Options	871	577	428
Warrants	1,500	1,500	—
Preferred Stock, as-converted	19,021	12,976	—
	21,392	15,053	428

We have elected to allocate undistributed income to participating securities based on year-to-date results. As there was no undistributed income for the years ended December 31, 2020, and 2019, no such allocation was necessary. In addition, given the undistributed loss from continuing operations in the years ended December 31, 2020, 2019, and 2018, all options and warrants are considered anti-dilutive and were excluded from the calculation of diluted net income (loss) per share. Stock options excluded from the calculations of diluted net income (loss) per share had a per share exercise price ranging from $7.93 to $25.16 for the year ended December 31, 2020, $8.54 to $25.16 for year ended December 31, 2019, and $4.42 to $25.16 for the year ended December 31, 2018. Warrants excluded from the calculation of diluted net income (loss) per share for the years ended December 31, 2020 and 2019, had a per share exercise price of $12.00. Preferred Stock excluded from the calculation of diluted net income (loss) per share for the years ended December 31, 2020 and 2019, was calculated on an as-converted basis. Holders of Preferred Stock will have the right to convert up to 25% of their Preferred Stock into common shares per quarter after December 31, 2023, at a conversion price that equals a 30-day volume weighted average price per common share. Under certain conditions, holders of Preferred Stock may elect to convert their Preferred Stock into common shares at an earlier date after March 31, 2023, at a conversion price that equals 90% of the volume weighted average market price per common share. The potentially dilutive Preferred Stock in the preceding table presents the more dilutive result of these conversion prices as if the Preferred Stock were converted on December 31, 2020.

Fair Value Measurements

12 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

Fair Value Measurements

Fair value is an exit price representing the expected amount that an entity would receive to sell an asset or pay to transfer a liability in an orderly transaction with market participants at the measurement date. We followed consistent methods and assumptions to estimate fair values as more fully described in Note 1.

Fair value principles prioritize valuation inputs across three broad levels. Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2 inputs are quoted prices for similar assets and liabilities in active markets or inputs that are observable for the asset or liability, either directly or indirectly through market corroboration, for substantially the full term of the financial instrument. Level 3 inputs are unobservable inputs based on the assumptions used to measure assets and liabilities at fair value. An asset or liability’s classification within the various levels is determined based on the lowest level input that is significant to the fair value measurement.

Our financial instruments that are subject to fair value disclosure consist of cash and cash equivalents, accounts receivable, accounts payable, derivatives, and long-term debt. As of December 31, 2020, the carrying values of these financial instruments approximated fair value. The fair value of floating-rate debt approximates the carrying amount because the interest rates paid are based on short-term maturities.

Derivative Financial Instruments

As described in Note 16, in connection with the issuance of Preferred Stock in December 2019 and in accordance with ASC 815-15, certain features of the Preferred Stock were bifurcated and accounted for separate from the Preferred Stock. The following features are recorded as derivatives.

•Leverage ratio put feature. The Preferred Stock includes a redemption option based on a leverage ratio threshold that provides the preferred holder the option to convert the Preferred Stock to a variable number of shares of common stock at a discount to the then fair value of our common stock. The conversion feature is considered a redemption right at a premium which is not clearly and closely related to the debt host.

•Contingent dividends. The feature that allowed for the dividend rate to increase to 11.625% in 2020 if shareholder approval was not obtained is not considered clearly and closely related to the debt host. Our common stockholders approved a proposal at our 2020 annual stockholder meeting to issue common stock in excess of thresholds established by certain Nasdaq stock market rules upon the exercise of Warrants or the conversion or redemption of Preferred Stock. Because shareholder approval was obtained during 2020, the contingent dividends feature no longer exists as of December 31, 2020.

•Dividends withholding. The Preferred Stock bears a feature that could require us to make an effective distribution to purchasers which is indexed to the tax rate of the purchasers. This distribution would be partially offset by an adjustment to the redemption price and/or conversion rate. The dividends withholding feature is not clearly and closely related to the debt host.

•Warrants. The Warrants issued with the Preferred Stock are exercisable, in full or in part, at any time prior to the seventh anniversary of their issuance at an exercise price of $12.00 per share, subject to customary anti-dilution adjustments in the event of future below market issuances, stock splits, stock dividends, combinations or similar events.

The following tables show the liabilities measured at fair value for the Preferred Stock derivatives above as of December 31, 2020, and December 31, 2019.


	Fair Value Measurements as of December 31, 2020
Description	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Derivative liability - other current liabilities	$	—	$	—	$	2,453
Derivative liability - other non-current liabilities	—		—		664
Description	$	—	$	—	$	3,117


	Fair Value Measurements as of December 31, 2019
Description	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Derivative liability - other current liabilities	$	—	$	—	$	60
Derivative liability - other non-current liabilities	—		—		2,235
Total	$	—	$	—	$	2,295

The following table presents the change in the Preferred Stock derivatives during the twelve months ended December 31, 2020 and 2019.


	Years Ended December 31,
	2020		2019
Beginning balance	$	2,295	$	—
Issuances	—		2,295
Change in fair value (1)	(493)		—
Other (2)	1,315		—
Ending balance	$	3,117	$	2,295

_______________________________

(1) Changes in the fair value are recognized in the “Other expense (income), net” line in the Consolidated Statements of Operations and Comprehensive Income (Loss). All of the change in fair value relates to the derivative liability held at December 31, 2020.

(2) In 2020, we determined that certain anti-dilution provisions of the Warrants require liability accounting; therefore, we reclassified the $1.1 million value of the Warrants recorded in Stockholders’ Equity as of December 31, 2019, to a liability during the twelve months ended December 31, 2020.

The fair value of the leverage ratio put feature, the dividends withholding feature, and the contingent dividends feature utilizes unobservable inputs based on the best information available to determine the probability of the preferred stock remaining outstanding for future periods. These inputs include probability assessments of how long the Preferred Stock will remain outstanding, whether the leverage ratio threshold will be exceeded, and, as of December 31, 2019, whether approval would be obtained from common stockholders for issuance of common stock upon exercise of the Warrants and conversion or redemption of the Preferred Stock. Inputs also include the percentage of Preferred Stock held by non-U.S. resident holders and the applicable tax withholding rates for those holders. The probability of the Preferred Stock remaining in future periods ranged from 3% to 2% as of December 31, 2020, and from 97% to 2% as of December 31, 2019. The leverage ratio put feature also utilizes unobservable inputs to determine the probability of the leverage ratio put being exercisable as of March 31, 2023, which ranged from 10% to 1% as of December 31, 2020, and from 20% to 1% at December 31, 2019. These probabilities are determined based on management’s assessment of facts and circumstances at each reporting date. An increase in these probabilities would result in an increase in the derivative liability fair value. Given the Preferred Stock value changes by period as a result of dividends and redemption premiums, weighted average values for these assumptions are not meaningful.

The fair value of the Warrants feature is determined using a valuation model, which utilizes unobservable inputs to determine the probability that the Warrants will remain outstanding for future periods. The probabilities ranged from 80% to 5% and resulted in a weighted average term of 2.4 years as of December 31, 2020. An increase in these probabilities would result in an increase in the derivative liability fair value. As of December 31, 2019, the Warrants were classified in equity and valued using a term of 1.3 years.

Interest Rate Swap

We manage our exposure to fluctuations in interest rates using a mix of fixed and variable rate debt. On February 8, 2019, we entered into a $700.0 million fixed-rate interest rate swap agreement that changed the LIBOR-based portion of the interest rate on a portion of our variable rate debt to a fixed rate of 2.4575% (the “interest rate swap”). The term of the interest rate swap is from the effective date of February 12, 2019, through the termination date of October 19, 2022 (the “interest rate swap term”). The interest rate swap effectively mitigated our exposures to the risks and variability of changes in LIBOR.

The notional amount of the interest rate swap decreases over time as presented in the following table:


	Notional Amount
February 12, 2019 - December 30, 2020	$	700,000,000
December 31, 2020 - December 30, 2021	466,667,000
December 31, 2021 - October 19, 2022	233,333,000

The objective of the interest rate swap was to eliminate the variability of cash flows in interest payments on the first $700.0 million of variable rate debt attributable to changes in benchmark one-month LIBOR interest rates. The hedged risk was the interest rate risk exposure to changes in interest payments, attributable to changes in benchmark one-month LIBOR interest rates over the interest rate swap term. If one-month LIBOR were greater than the minimum percentage under the Senior Secured Term Loan, then the changes in cash flows of the interest rate swap were expected to exactly offset changes in cash flows of the variable rate debt. The interest rate swap was designated as a cash flow hedge at inception.

In connection with the prepayment of debt on October 6, 2020, with proceeds from the sale of our Life Sciences business, the outstanding balance of our variable rate debt fell below the $700.0 million notional amount of the interest rate swap. After the prepayment, a majority of the hedged forecasted transactions (i.e. interest payments) were probable of not occurring, resulting in the recognition in earnings of $14.8 million of the hedging loss in accumulated other comprehensive income in the fourth quarter of 2020. The remaining $2.9 million of the hedging loss in accumulated other comprehensive income will be amortized into earnings as settlements occur. Finally, as the interest rate swap no longer qualifies as an effective hedge subsequent to October 6, 2020, changes in fair value of the interest rate swap are recognized in earnings each period. All amounts recognized in earnings related to the interest rate swap are recorded in the “ Loss on interest rate swap” line on the Consolidated Statements of Operations and Comprehensive Income (Loss) except that cash settlements were recognized in “Interest expense” prior to October 6, 2020, and in “Derivative payments on interest rate swap” after October 6, 2020. Cash settlements are presented in operating activities on the Consolidated Statements of Cash Flows prior to October 6, 2020, and in investing activities after October 6, 2020. The following table presents the effect of the interest rate swap on the Consolidated Statements of Operations and Comprehensive Income (Loss).


	Years Ended December 31,
	2020		2019
Interest expense	$	8,906	$	1,411
Derivative payments on interest rate swap	4,133		—
Loss on interest rate swap	11,669		—

As of December 31, 2020 and 2019, we reported a $2.9 million loss and a $9.4 million loss, respectively, net of tax, in accumulated other comprehensive income related to the interest rate swap.

The following tables present the liabilities measured at fair value on a recurring basis for the interest rate swap as of December 31, 2020, and December 31, 2019.


	Fair Value Measurements as of December 31, 2020
Description	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)


Derivative liability - other current liabilities	$	—	$	11,022	$	—
Derivative liability - other non-current liabilities	—		4,357		—
Total	$	—	$	15,379	$	—


	Fair Value Measurements as of December 31, 2019
Description	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)


Derivative liability - other current liabilities	$	—	$	5,943	$	—
Derivative liability - other non-current liabilities	—		6,290		—
Total	$	—	$	12,233	$	—

The inputs for determining fair value of the interest rate swap are classified as Level 2 inputs. Level 2 fair value is based on estimates using standard pricing models. These standard pricing models use inputs which are derived from or corroborated by observable market data such as interest rate yield curves, index forward curves, discount curves, and volatility surfaces. Counterparty to this derivative contract is a highly rated financial institution which we believe carries only a minimal risk of nonperformance.

Fixed Rate Debt

The fair value of our outstanding fixed-rate debt included in the “International lines of credit and other loans” line item within Note 12 to these Notes to Consolidated Financial Statements was $14.4 million and $9.6 million as of December 31, 2020 and 2019, respectively. These fair values represent Level 2 under the three-tier hierarchy described above. The carrying value of this fixed-rate debt was $14.4 million and $9.6 million as of December 31, 2020 and 2019, respectively.

Quarterly Financial Information Disclosure [Abstract]

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Quarterly Results of Operations (Unaudited)

12 Months Ended

Dec. 31, 2020

Quarterly Results of Operations (Unaudited)

The following tables present the quarterly results of operations for the years ended December 31, 2020 and 2019.


2020	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
Net sales	$	116,213	$	78,532	$	113,761	$	119,028
Cost of sales (exclusive of depreciation and amortization)	94,478		65,058		90,076		93,982
Income (loss) from continuing operations	(108,077)		(17,566)		1,640		(15,487)
Income (loss) from discontinued operations, net of tax	(140,114)		(4,182)		20,330		162,864
Net income (loss)	(248,191)		(21,748)		21,970		147,377
Comprehensive income (loss)	(272,690)		(19,371)		31,851		170,440
Basic loss from continuing operations per common share	$	(2.64)	$	(0.49)	$	(0.04)	$	(0.44)
Basic net income (loss) per common share	$	(5.96)	$	(0.59)	$	0.45	$	3.41
Diluted loss from continuing operations per common share	$	(2.64)	$	(0.49)	$	(0.04)	$	(0.44)
Diluted net income (loss) per common share	$	(5.96)	$	(0.59)	$	0.45	$	3.41


2019	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
Net sales	$	127,528	$	130,851	$	120,459	$	110,676
Cost of sales (exclusive of depreciation and amortization)	101,369		102,643		96,654		91,816
Loss from continuing operations	(11,517)		(4,453)		(4,836)		(9,943)
Loss from discontinued operations, net of tax	(8,001)		(2,830)		(1,019)		(4,142)
Net loss	(19,518)		(7,283)		(5,855)		(14,085)
Comprehensive loss	(22,053)		(15,742)		(17,976)		(4,210)
Basic loss from continuing operations per common share	$	(0.27)	$	(0.11)	$	(0.12)	$	(0.25)
Basic net loss per common share	$	(0.47)	$	(0.17)	$	(0.14)	$	(0.35)
Diluted loss from continuing operations per common share	$	(0.27)	$	(0.11)	$	(0.12)	$	(0.25)
Diluted net loss per common share	$	(0.47)	$	(0.17)	$	(0.14)	$	(0.35)

Significant Accounting Policies (Policies)	12 Months Ended
Significant Accounting Policies (Policies)	Dec. 31, 2020
Accounting Policies [Abstract]
Nature of Business	Nature of Business NN, Inc. is a global diversified industrial company that combines advanced engineering and production capabilities with in-depth materials science expertise to design and manufacture high-precision components and assemblies primarily for the electrical, automotive, general industrial, aerospace and defense, and medical markets. As used in this Annual Report on Form 10-K (this “Annual Report”), the terms “NN,” the “Company,” “we,” “our,” or “us” refer to NN, Inc., and its subsidiaries. We have 32 facilities in North America, Europe, South America, and China.
Basis of Presentation	Basis of PresentationThe accompanying consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”). Certain prior period amounts have been reclassified to conform to the current year’s presentation. Historical periods presented reflect reclassifications for discontinued operations (see Note 2). Except for per share data or as otherwise indicated, all U.S. dollar amounts presented in the tables in these Notes to Consolidated Financial Statements are in thousands.
Principles of Consolidation	Principles of Consolidation Our consolidated financial statements include the accounts of NN, Inc., and its wholly owned subsidiaries. We own a 49% interest in a joint venture which we account for using the equity method (see Note 10). All intercompany transactions and balances have been eliminated in consolidation.
Use of Estimates in the Preparation of Consolidated Financial Statements	Use of Estimates in the Preparation of Consolidated Financial Statements The preparation of consolidated financial statements in accordance with U.S. GAAP requires management to use estimates and assumptions that affect the reported amounts of certain assets and liabilities, disclosure of contingent assets and liabilities, and the reported amounts of revenues and expenses. Actual results may differ from those estimates.
Accounting Standards Recently Adopted	Accounting Standards Recently Adopted Financial Instruments - Credit Losses. In June 2016, the Financial Accounting Standards Board (the “FASB”) issued ASU 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”), which modifies the measurement of expected credit losses on certain financial instruments and the timing of when such losses are recorded. In November 2019, the SEC issued Staff Accounting Bulletin (“SAB”) No. 119, codified in Accounting Standards Codification (“ASC”) Topic 326, Financial Instruments-Credit Losses, which provides guidance on accounting of credit losses. We adopted ASU 2016-13 on January 1, 2020, using the modified retrospective transition method, which resulted in no material impact on our consolidated financial statements. Fair Value Disclosures. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement (“ASU 2018-13”), that modifies fair value disclosure requirements. The new guidance streamlines disclosures of Level 3 fair value measurements. The modified disclosures were effective for us beginning in the first quarter of 2020. ASU 2018-13 changes disclosures only and does not impact our consolidated financial statements. Internal-Use Software. In August 2018, the FASB issued ASU 2018-15, Intangibles - Goodwill and Other - Internal-Use Software: Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract (a consensus of the FASB Emerging Issues Task Force) (“ASU 2018-15”), that provides guidance on a customer’s accounting for implementation, set-up, and other upfront costs incurred in a cloud computing arrangement that is hosted by the vendor. Under the new guidance, customers apply the same criteria for capitalizing implementation costs as they would for an arrangement that has a software license. We adopted ASU 2018-15 as of January 1, 2020, prospectively. We have had no such costs after the adoption date, and we do not expect the new guidance to have a material impact on our consolidated financial statements. Reference Rate Reform. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848), Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which provides temporary optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships, and other transactions that reference the London Interbank Offered Rate (“LIBOR”) or another reference rate expected to be discontinued because of reference rate reform. Among other things, for all types of hedging relationships, the guidance allows an entity to change the reference rate and other critical terms related to reference rate reform without having to remeasure the value or reassess a previous accounting determination. The amendments in this guidance should be applied on a prospective basis and, for companies with a fiscal year ending December 31, are effective from January 1, 2020, through December 31, 2022. We adopted this guidance effective January 1, 2020. When the transition occurs, we expect to apply this expedient to new transactions that reference LIBOR or another reference rate that is discontinued, through December 31, 2022. The adoption of this ASU is not expected to have a material impact on our consolidated financial statements.
Accounting Standards Not Yet Adopted	Accounting Standards Not Yet Adopted In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740) - Simplifying the Accounting for Income Taxes, (“ASU 2019-12”) as part of its initiative to reduce complexity in accounting standards. ASU 2019-12 removes certain exceptions and provides simplification to specific tax items to improve consistent application. This standard is effective for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years. Early adoption is permitted, including adoption in any interim period for which consolidated financial statements have not yet been issued. Adoption methods vary based on the specific items impacted. We are currently evaluating the impact on our consolidated financial statements and related disclosures. In August 2020, the FASB issued ASU 2020-06, Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity, (“ASU 2020-06”) which simplifies the accounting for certain financial instruments with characteristics of liabilities and equity. Specifically, ASU 2020-06 simplifies accounting for convertible instruments by removing major separation models required under current U.S. GAAP. In addition, ASU 2020-06 removes certain settlement conditions that are required for equity contracts to qualify for the derivative scope exception, which will permit more equity contracts to qualify for the exception. Further, for the diluted earnings-per-share calculation, the new guidance requires entities to use the if-converted method for all convertible instruments and generally requires entities to include the effect of share settlement for instruments that may be settled in cash or shares, among other things. ASU 2020-06 is effective for fiscal years beginning after December 15, 2021, and interim periods within those fiscal years. Early adoption is permitted for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years. Either the full or modified retrospective adoption method is allowed. We are currently evaluating the impact on our consolidated financial statements and related disclosures.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents include cash and highly liquid investments with original maturities of three months or less. We maintain cash balances in transaction accounts with various financial institutions that are insured by the Federal Deposit Insurance Corporation (“FDIC”). Although we maintain balances that exceed the federally insured limit, we have not experienced any losses related to these balances, and we believe credit risk to be minimal. We had approximately $17.0 million and $12.7 million in cash and cash equivalents as of December 31, 2020 and 2019, respectively, held at foreign financial institutions.
Fair Value Measurements	Fair Value Measurements Fair value principles prioritize valuation inputs across three broad levels. Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2 inputs are quoted prices for similar assets and liabilities in active markets or inputs that are observable for the asset or liability, either directly or indirectly through market corroboration, for substantially the full term of the financial instrument. Level 3 inputs are unobservable inputs based on the assumptions used to measure assets and liabilities at fair value. An asset or liability’s classification within the various levels is determined based on the lowest level input that is significant to the fair value measurement.
Accounts Receivable and Allowance for Credit Losses	Accounts Receivable and Allowance for Credit Losses Trade accounts receivable are recorded at their net realizable value. We maintain allowances for estimated losses resulting from the inability of our customers to make required payments. The allowances are based on the amount that we ultimately expect to collect from our customers. We evaluate the collectability of accounts receivable based on a combination of factors including number of days receivables are past due, historical collection experience, current market conditions, and forecasted direction of economic and business environment. Accounts receivable are written off at the time a customer receivable is deemed uncollectible.
Inventories	Inventories Inventories are stated at the lower of cost or net realizable value. Cost is determined using standard costs, which approximates the average cost method. Our policy is to expense abnormal amounts of idle facility expense, freight, handling cost, and waste included in cost of products sold. In addition, we allocate fixed production overheads based on the normal production capacity of our facilities. Inventory valuations were developed using normalized production capacities for each of our manufacturing locations. The costs from excess capacity or under-utilization of fixed production overheads were expensed in the period incurred and are not included as a component of inventory. Inventories also include tools, molds, and dies in progress that we are producing and will ultimately sell to our customers. These inventories are also carried at the lower of cost or net realizable value.
Property, Plant and Equipment	Property, Plant and Equipment Property, plant and equipment are stated at cost less accumulated depreciation. Assets to be disposed of are stated at the lower of depreciated cost or fair market value less estimated selling costs. Expenditures for maintenance and repairs are charged to expense as incurred. Major renewals and improvements are capitalized. When a property item is retired, its cost and related accumulated depreciation are removed from the property accounts and any gain or loss is recorded in the Consolidated Statements of Operations and Comprehensive Income (Loss). We review the carrying values of long-lived assets for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not be recoverable. Property, plant and equipment also includes tools, molds, and dies used in manufacturing. Depreciation is calculated based on historical cost using the straight-line method over the estimated useful lives of the depreciable assets. Estimated useful lives for buildings and land improvements generally range from 10 to 40 years. Estimated useful lives for machinery and equipment generally range from 3 to 12 years. Estimated useful lives for leasehold improvements are based on the life of the lease.
Goodwill and Other Indefinite Lived Intangible Assets	Goodwill and Other Indefinite Lived Intangible AssetsGoodwill is tested for impairment on an annual basis in the fourth quarter and between annual tests if a triggering event occurs. The impairment analysis is performed at the reporting unit level. An impairment charge is calculated based on a reporting unit’s carrying amount in excess of its fair value (i.e., step 1 of the two-step impairment test). If the carrying value of the reporting unit including goodwill is less than fair value of the reporting unit, the goodwill is not considered impaired.
Impairment of Long-Lived Assets	Impairment of Long-Lived AssetsLong-lived tangible and intangible assets subject to depreciation or amortization are tested for recoverability when changes in circumstances indicate the carrying value of these assets may not be recoverable. A test for recoverability is also performed when management has committed to a plan to dispose of a reporting unit or asset group. Assets to be held and used are tested for recoverability when indications of impairment are evident. Recoverability of a long-lived tangible or intangible asset is evaluated by comparing its carrying value to the future estimated undiscounted cash flows expected to be generated by the asset or asset group. If the asset is not recoverable, then the asset is considered impaired and adjusted to fair value which is then depreciated or amortized over its remaining useful life. Assets to be disposed of are recorded at the lesser of carrying value or fair value less costs of disposal.
Equity Method Investments	Equity Method Investments Our equity method investment is subject to a review for impairment if, and when, circumstances indicate that a decline in value below its carrying amount may have occurred. Examples of such circumstances include, but are not limited to, a significant deterioration in the earnings performance or business prospects of the investee; a significant adverse change in the regulatory, economic or technological environment of the investee; a significant adverse change in the general market condition of either the geographic area or the industry in which the investee operates; and recurring negative cash flows from operations. If management considers the decline to be other than temporary, we would write down the investment to its estimated fair market value.
Income Taxes	Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the consolidated financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Valuation allowances are recorded to reduce deferred tax assets when it is more likely than not that a tax benefit will not be realized. Provision has been made for income taxes on unremitted earnings of certain foreign subsidiaries as these earnings are not deemed to be permanently reinvested. We recognize income tax positions that meet the more likely than not threshold and accrue interest and potential penalties related to unrecognized income tax positions which are recorded as a component of the provision (benefit) for income taxes. We treat global intangible low-taxed income (“GILTI”) as a periodic charge in the year in which it arises and therefore do not record deferred taxes for basis differences associated with GILTI. We eliminate disproportionate tax effects from accumulated other comprehensive income (loss) when the circumstances upon which they are premised cease to exist.
Revenue Recognition	Revenue RecognitionWe recognize revenues when control of the good or service is transferred to the customer either at a point in time or, in limited circumstances, as our services are rendered over time. Revenue is measured as the amount of consideration we expect to receive in exchange for transferring goods or services.
Share Based Compensation	Share Based CompensationThe cost of stock options, restricted stock, and performance share units is recognized as compensation expense over the vesting periods based on the grant date fair value, net of expected forfeitures. We determine grant date fair value using the Black Scholes financial pricing model for stock options and a Monte Carlo simulation for performance share units that include a market condition for vesting because these awards are not traded in open markets. We determine grant date fair value using the closing price of our common stock on the date of grant for restricted stock and performance share units that include performance conditions for vesting.
Foreign Currency Translation	Foreign Currency Translation Assets and liabilities of our foreign subsidiaries are translated at current exchange rates. Revenue, costs, and expenses are translated at average rates prevailing during each reporting period. Translation adjustments arising from the translation of foreign subsidiary financial statements are reported as a component of other comprehensive income (loss) and accumulated other comprehensive income (loss) within stockholders’ equity. Transactions denominated in foreign currencies, including intercompany transactions, are initially recorded at the current exchange rate at the date of the transaction. The balances are adjusted to the current exchange rate as of each balance sheet date and as of the date when the transaction is consummated. Transaction gains or losses, excluding intercompany loan transactions, are expensed as incurred in either cost of sales or selling, general and administrative expense in the Consolidated Statements of Operations and Comprehensive Income (Loss) and were immaterial to the years ended December 31, 2020, 2019, and 2018. Transaction gains or losses on intercompany loan transactions are recognized as incurred in the “Other expense (income), net” line in the Consolidated Statements of Operations and Comprehensive Income (Loss). For the years ended December 31, 2020, 2019, and 2018, transaction gains or losses on intercompany loan transactions were $0.8 million, $0.4 million, and $3.6 million, respectively.
Net Income (Loss) Per Common Share	Net Income (Loss) Per Common Share We are required to allocate earnings or losses for a reporting period to common stockholders and participating securities using the two-class method to compute earnings per share. The two-class method is an earnings allocation formula that treats participating securities as having rights to earnings that otherwise would have been available to common stockholders. Participating securities may participate in undistributed earnings with common stock whether or not that participation is conditioned upon the occurrence of a specified event. Under the two-class method, our net income (loss) is reduced (or increased) by the amount that has been or will be distributed to our participating security holders. Preferred shares are participating securities that participate in earnings but do not participate in losses. Basic net income (loss) per common share is computed by dividing net income (loss) allocable to common shares by the weighted average number of common shares outstanding. Diluted net income (loss) per common share includes the effect of warrants, convertible preferred stock, stock options and the respective tax benefits unless inclusion would not be dilutive.
Business Combinations	Business Combinations We allocate the total purchase price of tangible and intangible assets acquired and liabilities assumed based on their estimated fair values as of the business combination date, with the excess purchase price recorded as goodwill. The purchase price allocation process requires us to use significant estimates and assumptions, including fair value estimates, as of the business combination date. Although we believe the assumptions and estimates we have made are reasonable and appropriate, they are based in part on historical experience and information obtained from management of the acquired company. Our assumptions and estimates are also partially based on valuation models that incorporate projections of expected future cash flows and operating plans and are inherently uncertain. Valuations are performed by management or third-party valuation specialists under management’s supervision. In determining the fair value of assets acquired and liabilities assumed in business combinations, as appropriate, we may use one of the following recognized valuation methods: the income approach (including discounted cash flows, relief from royalty and excess earnings model), the market approach, or the replacement cost approach. Examples of significant estimates used to value certain intangible assets acquired include but are not limited to: •sales volume, pricing, and future cash flows of the business overall; •future expected cash flows from customer relationships, and other identifiable intangible assets, including future price levels, rates of increase in revenue, and appropriate attrition rate; •the acquired company’s brand and competitive position, royalty rate quantum, as well as assumptions about the period of time the acquired brand will continue to benefit the combined company’s product portfolio; and •cost of capital, risk-adjusted discount rates, and income tax rates. Different assumptions regarding projected performance and other factors associated with the acquired assets may affect the amount recorded under each type of asset and liability. The valuations of property, plant and equipment, intangible assets, goodwill and deferred income tax liabilities depend heavily on assumptions. Subsequent assessment could result in future impairment charges. We refine these estimates over a measurement period not to exceed one year to reflect new information obtained surrounding facts and circumstances existing at the acquisition date.

Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2020

Discontinued Operations and Disposal Groups [Abstract]

Summary of Discontinued Operations

The following table presents the results of operations of the discontinued operations.


	Years Ended December 31,
		2020		2019		2018
Net sales		$	225,255	$	357,937	$	246,463
Cost of sales (exclusive of depreciation and amortization shown separately below)		160,464		249,157		175,787
Selling, general, and administrative expense		20,779		34,328		20,927
Acquisition related costs excluded from selling, general and administrative expense		—		—		5,763
Depreciation and amortization		35,731		46,950		28,102
Restructuring and integration expense, net		—		—		1,438
Goodwill impairment		146,757		—		—
Other operating expense (income), net		41		20		(737)
Income (loss) from operations		(138,517)		27,482		15,183
Interest expense		48,893		44,125		49,928
Loss on extinguishment of debt and write-off of debt issuance costs		1,388		2,753		19,562

Other expense (income), net		(322)		178		(675)
Loss from discontinued operations before costs of disposal and benefit for income taxes		(188,476)		(19,574)		(53,632)
Benefit for income taxes		12,468		3,582		11,865
Loss from discontinued operations before gain on disposal		(176,008)		(15,992)		(41,767)
Gain on disposal of discontinued operations		212,319		—		—
Benefit for income taxes on gain on disposal		2,587		—		—
Income (loss) from discontinued operations, net of tax		$	38,898	$	(15,992)	$	(41,767)

The following table summarizes the amount of interest expense related to the credit facility that has been reclassified to discontinued operations.


	Years Ended December 31,
		2020		2019		2018
Interest on debt		$	35,147	$	40,996	$	46,406
Amortization of debt issuance costs		13,990		3,368		3,571
Capitalized interest and other		(244)		(239)		(49)

Total interest expense of discontinued operations		$	48,893	$	44,125	$	49,928

The following table summarizes the carrying amounts of major classes of assets and liabilities of discontinued operations for each of the periods presented.


	December 31, 2020		December 31, 2019
Cash and cash equivalents	$	—	$	13,792
Accounts receivable, net	—		48,318
Inventories	—		51,644

Other current assets	—		3,246
Total current assets of discontinued operations	—		117,000
Property, plant and equipment, net	—		118,536
Operating lease right-of-use assets	—		20,044
Goodwill	—		344,316
Intangible assets, net	—		211,847
Other non-current assets	—		311
Total non-current assets of discontinued operations	—		695,054
Total assets of discontinued operations	$	—	$	812,054

Accounts payable	$	—	$	16,367
Accrued salaries, wages and benefits	—		14,844
Income tax payable	—		344
Current portion of operating lease liabilities	—		2,364
Other current liabilities	—		7,627
Total current liabilities of discontinued operations	—		41,546
Deferred tax liabilities	—		61,338
Operating lease liabilities, net of current portion	—		18,405
Other non-current liabilities	—		4,456
Total non-current liabilities of discontinued operations	—		84,199
Total liabilities of discontinued operations	$	—	$	125,745

The following table presents the significant noncash items and cash paid for capital expenditures of discontinued operations for each period presented.


	Years Ended December 31,
	2020		2019		2018
Depreciation and amortization	$	35,731	$	46,950	$	28,102
Goodwill impairment	146,757		—		—
Amortization of debt issuance costs	13,990		3,368		3,571
Loss on extinguishment of debt and write-off of debt issuance costs	1,388		2,753		19,562
Acquisition of property, plant and equipment	8,416		21,834		14,759
Right-of-use assets obtained in exchange for new finance lease liabilities	695		5,321		—
Right-of-use assets obtained in exchange for new operating lease liabilities (1)	6,174		51		—

_______________________________

(1) Includes new leases, renewals, and modifications after the adoption of ASC Topic 842, Leases, on January 1, 2019.

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

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Summary of Sales to External Customers and Long-Lived Tangible Assets by Geographical Region

Segment Information (Tables)

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

Segment Information

The following tables present results of continuing operations by reportable segment.


	Mobile Solutions			Power Solutions		Corporate and Consolidations			Total
Year Ended December 31, 2020
Net sales	$	256,360		$	171,269	$	(95)	(a)	$	427,534
Depreciation and amortization	28,298			15,730		1,652			45,680
Goodwill impairment	—			92,942		—			92,942
Income (loss) from operations	5,228			(85,983)		(36,702)			$	(117,457)
Interest expense									(18,898)
Other									(15,733)
Loss from continuing operations before income taxes and share of net income from joint venture						$	(152,088)
Share of net income from joint venture	$	3,626		$	—	$	—		$	3,626
Expenditures for long-lived assets	12,400			2,754		203			15,357
Total assets	370,985		(b)	197,348		56,629			624,962


	Mobile Solutions			Power Solutions		Corporate and Consolidations			Total
Year Ended December 31, 2019
Net sales	$	297,749		$	192,100	$	(335)	(a)	$	489,514
Depreciation and amortization	27,146			15,301		2,449			44,896

Income (loss) from operations	9,553			13,881		(41,027)			$	(17,593)
Interest expense									(13,030)
Other									(1,502)
Loss from continuing operations before income taxes and share of net income from joint venture						$	(32,125)
Share of net income from joint venture	$	1,681		$	—	$	—		$	1,681
Expenditures for long-lived assets	24,969			4,457		2,743			32,169
Total assets	373,256		(b)	310,545		858,183		(c)	1,541,984


	Mobile Solutions		Power Solutions		Corporate and Consolidations			Total
Year Ended December 31, 2018
Net sales	$	335,037	$	189,778	$	(621)	(a)	$	524,194
Depreciation and amortization	26,217		14,753		2,056			43,026
Goodwill impairment	73,442		109,100		—			182,542
Loss from operations	(55,079)		(95,115)		(44,853)			$	(195,047)
Interest expense								(11,315)
Other								(2,016)
Loss from continuing operations before income taxes and share of net loss from joint venture					$	(208,378)
Share of net loss from joint venture	$	(14,390)	$	—	$	—		$	(14,390)
Expenditures for long-lived assets	36,660		6,459		6,158			49,277

_______________________________

(a) Includes eliminations of intersegment transactions which occur during the ordinary course of business.

(b) Total assets in Mobile Solutions includes $27.0 million and $21.8 million as of December 31, 2020 and 2019, respectively, related to the investment in our 49% owned joint venture (Note 10).

The following table summarizes long-lived tangible assets by geographical region.


	Property, Plant, and Equipment, Net As of December 31,
	2020		2019
United States	$	130,077	$	158,444
Europe	$	40,663	$	38,082
Asia	33,854		33,058
Mexico	1,230		1,388
South America	17,866		25,005
All foreign locations	$	93,613	$	97,533
Total	$	223,690	$	255,977

Accounts Receivable (Tables)

12 Months Ended

Dec. 31, 2020

Receivables [Abstract]

Summary of Accounts Receivables

Accounts receivable, net, are comprised of the following amounts:


	As of December 31,
	2020		2019
Trade	$	86,659	$	85,284
Less—allowance for credit losses	2,044		2,044
Accounts receivable, net	$	84,615	$	83,240

Summary of Activity in the Allowance for Credit Losses

The following table presents changes in allowance for credit losses.


	Year Ended December 31,
	2020		2019		2018
Balance at beginning of year	$	2,044	$	2,517	$	2,339
Additions	505		231		628
Write-offs	(562)		(692)		(400)
Currency impact	57		(12)		(50)
Balance at end of year	$	2,044	$	2,044	$	2,517

Inventories (Tables)

12 Months Ended

Dec. 31, 2020

Inventory Disclosure [Abstract]

Summary of Inventories

Inventories are comprised of the following amounts:


	As of December 31,
	2020		2019
Raw materials	$	22,589	$	34,816
Work in process	20,758		17,810
Finished goods	19,170		14,452
Total inventories	$	62,517	$	67,078

Property, Plant and Equipment (Tables)

12 Months Ended

Dec. 31, 2020

Property, Plant and Equipment [Abstract]

Summary of Property, Plant and Equipment

Property, plant and equipment are comprised of the following amounts:


	As of December 31,
	2020		2019
Property, plant and equipment
Land and buildings	$	58,296	$	57,222
Machinery and equipment	339,268		321,110
Construction in progress	1,270		25,416
Total	398,834		403,748
Less: Accumulated depreciation	175,144		147,771
Property, plant and equipment, net	$	223,690	$	255,977

Goodwill (Tables)

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Changes in Carrying Amount of Goodwill

The following table shows changes in the carrying amount of Power Solutions goodwill.



Balance as of December 31, 2018	$	94,505
Currency impact and other	274



Balance as of December 31, 2019	94,779
Currency impact and other	(1,837)
Impairments	(92,942)
Balance as of December 31, 2020	$	—

The following table presents the gross carrying amount of goodwill and accumulated impairment charges as of December 31, 2020, and 2019.


	December 31, 2020						December 31, 2019
	Gross Carrying Amount		Accumulated Impairment Charges		Net Book Value		Gross Carrying Amount		Accumulated Impairment Charges		Net Book Value

Mobile Solutions	78,254		(78,254)		—		77,458		(77,458)		—
Power Solutions	213,791		(213,791)		—		215,628		(120,849)		94,779
Total goodwill	$	292,045	$	(292,045)	$	—	$	293,086	$	(198,307)	$	94,779

Intangible Assets, Net (Tables)

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Carrying Amount of Intangible Assets by Segment and by Major Asset Class

The following table shows changes in the carrying amount of intangible assets, net, by reportable segment.


	Mobile Solutions		Power Solutions		Total
Balance as of December 31, 2018	$	35,892	$	95,991	$	131,883
Amortization	(3,479)		(10,994)		(14,473)
Other	3		—		3

Balance as of December 31, 2019	32,416		84,997		117,413
Amortization	(3,354)		(10,994)		(14,348)

Balance as of December 31, 2020	$	29,062	$	74,003	$	103,065

The following table shows the cost and accumulated amortization of our intangible assets as of December 31, 2020 and 2019.


		December 31, 2020						December 31, 2019
	Estimated Useful Life in Years	Gross Carrying Value as of Acquisition Date		Accumulated Amortization		Net Carrying Value		Gross Carrying Value as of Acquisition Date		Accumulated Amortization		Net Carrying Value
Customer relationships	12 - 20	$	173,746	$	(74,250)	$	99,496	$	173,746	$	(60,603)	$	113,143
Trademark and trade name	8 - 15	7,527		(3,958)		3,569		7,527		(3,257)		4,270

Total identified intangible assets		$	181,273	$	(78,208)	$	103,065	$	181,273	$	(63,860)	$	117,413

Summary of Estimated Amortization Expense

The following table shows estimated future amortization expense for the next five years and thereafter.


Year Ending December 31,
2021	$	14,347
2022	14,347
2023	14,262
2024	13,919
2025	13,919
Thereafter	32,271
Total	$	103,065

Investment in Joint Venture (Tables)

12 Months Ended

Dec. 31, 2020

Equity Method Investments and Joint Ventures [Abstract]

Summarized Activity Related to Investment in Joint Venture

The following table shows changes in our investment in the JV.


Balance as of December 31, 2019	$	21,755
Share of earnings	3,626


Foreign currency translation gain	1,602

Balance as of December 31, 2020	$	26,983

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Loss from Continuing Operations Before Benefit for Income Taxes

The following table summarizes the loss from continuing operations before benefit (provision) for income taxes and share of net income (loss) from joint venture.


	Year Ended December 31,
	2020		2019		2018
United States	$	(146,963)	$	(31,760)	$	(200,164)
Foreign	(5,125)		(365)		(8,214)
Loss from continuing operations before benefit (provision) for income taxes and share of net income (loss) from joint venture	$	(152,088)	$	(32,125)	$	(208,378)

Income Tax Expense (Benefit)

The following table summarizes total income tax expense (benefit) recognized in each year.


	Year Ended December 31,
	2020		2019		2018
Current taxes:
U.S. Federal	$	(299)	$	(5,948)	$	5,684
State	4,599		1,656		58
Foreign	2,250		2,247		2,271
Total current tax expense (benefit)	6,550		(2,045)		8,013
Deferred taxes:
U.S. Federal	$	(10,368)	$	(1,430)	$	(6,028)
State	(5,368)		3,850		(214)
U.S. federal and foreign valuation allowance	2,066		(592)		2,263
Foreign	(1,852)		522		(5,582)
Total deferred tax expense (benefit)	(15,522)		2,350		(9,561)
Total income tax expense (benefit)	$	(8,972)	$	305	$	(1,548)

Reconciliation of Income Taxes Based on U.S. Federal Statutory Rate

The following table presents a reconciliation of income taxes based on the U.S. federal statutory income tax rate.


	Year Ended December 31,
	2020		2019		2018
U.S federal statutory income tax rate	21.0	%	21.0	%	21.0	%
Change in valuation allowance, exclusive of state	(1.3)	%	1.8	%	(1.1)	%

State taxes, net of federal taxes, exclusive of tax reform	0.2	%	(13.6)	%	0.1	%
Non-U.S. earnings taxed at different rates	1.4	%	3.0	%	0.3	%

GILTI	(0.1)	%	—	%	—	%
Goodwill impairment	(12.7)	%	—	%	(17.7)	%
Nondeductible asset loss	—	%	(2.2)	%	(0.2)	%

Research and development tax credit	0.4	%	2.2	%	0.3	%
Change in uncertain tax positions	2.2	%	4.3	%	0.5	%
Impact of tax reform:
Toll charge, net of foreign tax credit	—	%	—	%	0.7	%
Remeasurement of deferred taxes pursuant to tax reform	—	%	—	%	(1.2)	%

Impact of 2019 Treasury regulations	—	%	(18.4)	%	—	%

CARES Act	2.7	%	—	%	—	%

Divestiture of business segment, exclusive of tax reform	—	%	—	%	(1.1)	%
Return to provision	(0.5)	%	(0.2)	%	(1.0)	%

Taxes on unremitted foreign earnings	(3.9)	%	(2.2)	%	—	%
Restructuring gain	(2.6)	%	—	%	—	%


Other adjustments, net	(0.9)	%	3.3	%	0.1	%
Effective tax rate	5.9	%	(1.0)	%	0.7	%

Principal Components of Deferred Tax Assets and Liabilities

The following table summarizes the principal components of the deferred tax assets and liabilities.


	As of December 31,
	2020		2019
Deferred income tax liabilities:
Tax in excess of book depreciation	$	27,459	$	28,329

Intangible assets	23,695		26,474


Operating leases	11,149		12,697
Taxes on unremitted foreign earnings	6,601		—
Other deferred tax liabilities	533		2,178
Total deferred income tax liabilities	69,437		69,678
Deferred income tax assets:
Interest expense limitation	3,811		14,073
Goodwill	25,653		386
Inventories	3,224		2,447
Interest rate swap	3,611		2,838
Pension/Personnel accruals	2,909		1,669
Operating leases	13,209		14,438
Net operating loss carryforwards	18,659		15,486

R&D credit carryforwards	—		2,463
Non-U.S. credit carryforwards	3,574		3,419
Accruals and reserves	2,399		2,335
Other deferred tax assets	2,891		1,157
Deferred income tax assets before valuation allowance	79,940		60,711
Valuation allowance on deferred tax assets	(21,681)		(15,494)
Total deferred income tax assets	58,259		45,217
Net deferred income tax liabilities	$	11,178	$	24,461

Summary of Reconciliation of Beginning and Ending Amounts of Unrecognized Tax Benefits, Excluding Interest and Penalties

The following table presents a reconciliation of the beginning and ending amounts of unrecognized tax benefits, excluding interest and penalties.


	Year Ended December 31,
	2020		2019		2018
Balance at beginning of year	$	2,589	$	4,609	$	5,655
Additions for tax positions of prior years	121		—		304
Settlements for tax positions of prior years	—		(275)		—
Reductions for tax positions of prior years	(2,463)		(1,745)		(1,350)
Balance at end of year	$	247	$	2,589	$	4,609

Debt (Tables)

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Summary of Debt

The following table presents outstanding debt balances as of December 31, 2020 and 2019.


	As of December 31,
	2020		2019
Senior Secured Term Loan	$	47,728	$	526,313
Incremental Term Loan	22,716		257,111

International lines of credit and other loans	14,418		9,579
Total principal	84,862		793,003
Less-current maturities of long-term debt	4,885		19,106
Principal, net of current portion	79,977		773,897
Less-unamortized debt issuance costs (1)	952		16,647
Long-term debt, net of current portion	$	79,025	$	757,250

_______________________________

Aggregate Maturities of Long-Term Debt

The following table lists aggregate maturities of long-term debt for the next five years and thereafter.


Year Ending December 31,	Aggregate Maturities Principal Amounts
2021	$	4,885
2022	71,664
2023	1,632
2024	1,474
2025	1,553
Thereafter	3,654
Total outstanding principal	$	84,862

Leases (Tables)

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Lease, Cost

The following table presents components of lease expense:


		Years Ended December 31,
	Financial Statement Line Item	2020		2019
Finance lease cost:
Amortization of right-of-use assets	Depreciation and amortization	$	1,272	$	1,229
Interest expense	Interest expense	192		226
Operating lease cost	Cost of sales and selling, general, and administrative expense	8,396		9,108
Short-term lease cost (1)	Cost of sales and selling, general, and administrative expense	591		479
Variable lease cost (2)	Cost of sales and selling, general, and administrative expense	1		1
Total lease cost		$	10,452	$	11,043

_______________________________

(1) Excludes expenses related to leases with a lease term of one month or less.

(2) Represents changes to index-based lease payments.

The following table contains supplemental cash flow information related to leases of continuing operations.


	Years Ended December 31,
	2020		2019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows used in finance leases	$	192	$	226
Operating cash flows used in operating leases	13,498		14,090
Financing cash flows used in finance leases	2,018		3,156
Right-of-use assets obtained in exchange for new finance lease liabilities	$	728	$	5,250
Right-of-use assets obtained in exchange for new operating lease liabilities (1)	$	8,682	$	8,457

_______________________________

(1) Includes new leases, renewals, and modifications.

As of December 31, 2020, the weighted average remaining lease term and weighted-average discount rate for finance and operating leases of continuing operations were as follows:


	Years Ended December 31,
	2020		2019
Weighted-average remaining lease term - finance leases	3.2 years		4.0 years
Weighted-average remaining lease term - operating leases	11.7 years		11.0 years
Weighted-average discount rate - finance leases	2.2	%	2.2	%
Weighted-average discount rate - operating leases	7.0	%	5.7	%

Assets And Liabilities, Lessee

The following table presents lease-related assets and liabilities recorded on the balance sheet.


		As of December 31,
	Financial Statement Line Item	2020		2019
Assets:
Operating lease assets	Operating lease right-of-use assets	$	50,264	$	45,452
Finance lease assets	Property, plant and equipment, net	14,644		13,267
Total lease assets		$	64,908	$	58,719

Liabilities:
Current liabilities:
Operating lease liabilities	Current portion of operating lease liabilities	$	4,797	$	4,288
Finance lease liabilities	Other current liabilities	4,252		2,701
Non-current liabilities:
Operating lease liabilities	Operating lease liabilities, net of current portion	55,053		48,575
Finance lease liabilities	Other non-current liabilities	6,858		7,911
Total lease liabilities		$	70,960	$	63,475

Lessee, Operating Lease, Liability, Maturity

The maturities of lease liabilities greater than twelve months as of December 31, 2020, is as follows:


	Operating Leases		Finance Leases
2021	$	9,348	$	4,442
2022	8,485		3,107
2023	7,370		2,365
2024	7,276		1,122
2025	7,194		223
Thereafter	48,523		210
Total future minimum lease payments	88,196		11,469
Less: imputed interest	28,346		359
Total lease liabilities	$	59,850	$	11,110

Finance Lease, Liability, Maturity

The maturities of lease liabilities greater than twelve months as of December 31, 2020, is as follows:


	Operating Leases		Finance Leases
2021	$	9,348	$	4,442
2022	8,485		3,107
2023	7,370		2,365
2024	7,276		1,122
2025	7,194		223
Thereafter	48,523		210
Total future minimum lease payments	88,196		11,469
Less: imputed interest	28,346		359
Total lease liabilities	$	59,850	$	11,110

Restructuring and Integration (Tables)

12 Months Ended

Dec. 31, 2020

Restructuring and Related Activities [Abstract]

Summary of Restructuring and Integration Charges and Reserve Activity


	Mobile Solutions		Corporate and Consolidations		Total




Year Ended December 31, 2019

Site closure and other associated costs	$	(12)	$	—	$	(12)
Total	$	(12)	$	—	$	(12)
Year Ended December 31, 2018
Severance and other employee costs	$	—	$	626	$	626
Site closure and other associated costs	63		—		63
Total	$	63	$	626	$	689







	Reserve Balance as of December 31, 2018		Charges		Non-cash Adjustments		Cash Reductions		Reserve Balance as of December 31, 2019
Severance and other employee costs	$	129	$	—	$	—	$	(129)	$	—
Site closure and other associated costs	24		(12)		—		(12)		—
Total	$	153	$	(12)	$	—	$	(141)	$	—

	Reserve Balance as of December 31, 2017		Charges		Non-cash Adjustments		Cash Reductions		Reserve Balance as of December 31, 2018
Severance and other employee costs	$	—	$	626	$	—	$	(497)	$	129
Site closure and other associated costs	1,099		63		(56)		(1,082)		24
Total	$	1,099	$	689	$	(56)	$	(1,579)	$	153

Preferred Stock and Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2020

Changes In Preferred Stock Carrying Value

The following table presents the change in the Preferred Stock carrying value during the year ended December 31, 2020.


	Years Ended December 31,
	2020		2019
Beginning balance	$	93,012	$	—
Gross proceeds from issuance of shares	—		100,000
Relative fair value of Warrants issued	—		(1,076)
Recognition of bifurcated embedded derivative	—		(2,295)
Allocation of issuance costs to Preferred Stock	—		(4,259)
Accrual of in-kind dividends	11,121		590
Amortization and other	953		52
Ending balance	$	105,086	$	93,012

Revenue from Contracts with Customers (Tables)

12 Months Ended

Dec. 31, 2020

Revenue from Contract with Customer [Abstract]

Schedule of Revenue by Major Customers by Reporting Segments


	Year Ended December 31, 2020
	Mobile Solutions		Power Solutions		Intersegment Sales Eliminations		Total
United States and Puerto Rico	$	129,147	$	139,499	$	(95)	$	268,551
China	46,442		5,563		—		52,005
Brazil	27,055		689		—		27,744
Mexico	16,465		13,400		—		29,865
Germany	5,846		378		—		6,224
Poland	4,913		14		—		4,927
Other	26,492		11,726		—		38,218
Total net sales	$	256,360	$	171,269	$	(95)	$	427,534


	Year Ended December 31, 2019
	Mobile Solutions		Power Solutions		Intersegment Sales Eliminations		Total
United States and Puerto Rico	$	162,445	$	156,945	$	(335)	$	319,055
China	38,793		6,722		—		45,515
Brazil	36,058		300		—		36,358
Mexico	18,815		13,489		—		32,304
Germany	6,372		65		—		6,437
Poland	6,363		15		—		6,378
Other	28,903		14,564		—		43,467
Total net sales	$	297,749	$	192,100	$	(335)	$	489,514


	Year Ended December 31, 2018
	Mobile Solutions		Power Solutions		Intersegment Sales Eliminations		Total
United States and Puerto Rico	$	187,178	$	157,357	$	(621)	$	343,914
China	43,610		5,537		—		49,147
Brazil	35,314		215		—		35,529
Mexico	27,053		12,254		—		39,307
Germany	5,652		26		—		5,678
Poland	7,010		13		—		7,023
Other	29,220		14,376		—		43,596
Total net sales	$	335,037	$	189,778	$	(621)	$	524,194

Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2020

Share-based Payment Arrangement [Abstract]

Components of Share-Based Compensation Expense by Type of Award

The following table lists the components of share-based compensation expense by type of award.


	Year Ended December 31,
	2020		2019		2018
Stock options	$	741	$	881	$	678
Restricted stock	3,473		1,897		1,630
Performance share units	755		1,155		2,076
Change in estimate of share-based award vesting (1)	(743)		(1,111)		(1,968)
Share-based compensation expense	$	4,226	$	2,822	$	2,416

_______________________________

(1) Amounts reflect the decrease in share-based compensation expense based on the change in estimate of the probability of vesting of share-based awards.

Weighted Average Assumptions Relevant to Determining the Fair Value at the Dates of Grant and Stock Option Modification

The following table shows the weighted average assumptions relevant to determining the fair value of stock options granted in each year.


	2020		2019		2018
Expected term	6 years		6 years		6 years
Average risk-free interest rate	1.42	%	2.47	%	2.66	%
Expected dividend yield	—	%	3.53	%	1.15	%
Expected volatility	52.80	%	49.53	%	47.69	%
Expected forfeiture rate	—	%	4.00	%	4.00	%

Reconciliation of Option Activity

The following table presents stock option activity for the year ended December 31, 2020.


	Number of Options (in thousands)	Weighted- Average Exercise Price (per share)		Weighted- Average Remaining Contractual Term (years)	Aggregate Intrinsic Value
Outstanding at January 1, 2020	775	$	13.24
Granted	159	9.44

Forfeited or expired	(63)	15.09
Outstanding at December 31, 2020	871	$	12.41	4.0 years	$	—	(1)
Exercisable at December 31, 2020	682	$	13.17	2.7 years	$	—	(1)

_______________________________

Reconciliation of Restricted Stock Option Activity

The following table presents the status of unvested restricted stock awards as of December 31, 2020, and changes during the year then ended.


	Nonvested Restricted Shares (in thousands)	Weighted Average Grant-Date Fair Value (per share)
Unvested at January 1, 2020	222	$	9.33
Granted	460	9.35
Vested	(254)	7.31
Forfeited	(43)	9.17
Unvested at December 31, 2020	385	$	9.42

Schedule of Performance Based Awards Goals with Respect to TSR and ROIC

The following tables present the goals with respect to TSR Awards and ROIC Awards granted in 2020, 2019, and 2018.

TSR Awards:

Threshold Performance
(50% of Shares)

Target Performance
(100% of Shares)

Maximum Performance
(150% of Shares)

2020 grants

th Percentile

2019 grants

th Percentile

2018 grants

th Percentile


ROIC Awards:	Threshold Performance (35% of Shares)		Target Performance (100% of Shares)		Maximum Performance (150% of Shares)
2020 grants (1)	4.9	%	5.1	%	5.6	%
2019 grants	4.7	%	5.8	%	7.0	%
2018 grants	15.5	%	18.0	%	19.5	%

_______________________________

Schedule of Number of Awards Granted and Grant Date Fair Value of Each Award in Periods

The following table presents the number of PSUs granted and the grant-date fair value of each award in the periods presented.


	TSR Awards			ROIC Awards
Award Year	Shares (in thousands)	Grant-Date Fair Value (per share)		Shares (in thousands)	Grant-Date Fair Value (per share)
2020	139	$	10.88	157	$	9.44
2019	136	$	9.28	174	$	7.93
2018	55	$	24.65	55	$	24.55

Summary of Status of Unvested PSU Awards

The following table presents the status of unvested PSUs as of December 31, 2020, and changes during the year then ended.


	Nonvested TSR Awards			Nonvested ROIC Awards
	Number of Shares (in thousands)	Weighted Average Grant-Date Fair Value		Number of Shares (in thousands)	Weighted Average Grant-Date Fair Value
Nonvested at January 1, 2020	65	$	13.27	79	$	11.50
Granted	139	10.88		157	9.44
Forfeited	(56)	11.89		(66)	10.32
Expired	(10)	24.65		(10)	24.55
Nonvested at December 31, 2020	138	$	10.58	160	$	9.13

Accumulated Other Comprehensive Income (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Accumulated Other Comprehensive Income (Loss)

The components of accumulated other comprehensive income (“AOCI”) are as follows:


	Foreign Currency Translation		Interest rate swap		Income taxes (1)		Total
Balance at December 31, 2017	$	(17,705)	$	—	$	—	$	(17,705)

Current-period other comprehensive income (loss) activity	(13,609)		—		—		(13,609)
Balance at December 31, 2018	$	(31,314)	$	—	$	—	$	(31,314)
Other comprehensive income (loss) before reclassifications	(3,845)		(13,645)		3,166		(14,324)
Amounts reclassified from AOCI to interest expense (2)	—		1,411		(327)		1,084

Net current-period other comprehensive income (loss)	(3,845)		(12,234)		2,839		(13,240)
Balance at December 31, 2019	$	(35,159)	$	(12,234)	$	2,839	$	(44,554)
Other comprehensive income (loss) before reclassifications	(1,683)		(16,207)		3,764		(14,126)
Amounts reclassified from AOCI to interest expense (2)	—		8,906		(2,068)		6,838
Amounts reclassified from AOCI to loss on interest rate swap (3)	—		15,823		(3,674)		12,149
Sale of discontinued operations	5,961		—		—		5,961
Net current-period other comprehensive income (loss)	4,278		8,522		(1,978)		10,822
Balance at December 31, 2020	$	(30,881)	$	(3,712)	$	861	$	(33,732)

_______________________________

(1) Income tax effect of changes in interest rate swap.

(2) Represents settlements on the interest rate swap while the hedge was effective.

(3) Represents reclassification of derivative loss and settlements after discontinuation of hedge accounting. See Note 21 for further discussion of the interest rate swap.

Net Income (Loss) Per Share (Tables)

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

Summary of Net Income (Loss) Per Share

The following table summarizes the computation of basic and diluted net income (loss) per common share.


	Years Ended December 31,
		2020		2019		2018
Numerator:
Loss from continuing operations		$	(139,490)	$	(30,749)	$	(221,220)
Less: Preferred Stock cumulative dividends and deemed dividends		(12,373)		(642)		—



Numerator for basic and diluted loss from continuing operations per common share (1)		(151,863)		(31,391)		(221,220)
Income (loss) from discontinued operations, net of tax (Note 2)		38,898		(15,992)		(41,767)



Numerator for basic and diluted undistributed net loss per common share (1)		$	(112,965)	$	(47,383)	$	(262,987)

Denominator:
Weighted average common shares outstanding, basic and diluted		42,199		42,030		31,678



Per common share net loss:
Basic loss from continuing operations per common share		$	(3.60)	$	(0.75)	$	(6.98)
Basic income (loss) from discontinued operations per common share		0.92		(0.38)		(1.32)
Basic net loss per common share		$	(2.68)	$	(1.13)	$	(8.30)
Diluted loss from continuing operations per common share		$	(3.60)	$	(0.75)	$	(6.98)
Diluted income (loss) from discontinued operations per common share		0.92		(0.38)		(1.32)
Diluted net loss per common share		$	(2.68)	$	(1.13)	$	(8.30)
Cash dividends declared per common share		$	—	$	0.21	$	0.28

_______________________________

(1) Preferred Stock does not participate in losses.

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The following table presents potentially dilutive securities that were excluded from the calculation of diluted net income (loss) per common share because they had an anti-dilutive effect.


	Year Ended December 31,
	2020	2019	2018
Options	871	577	428
Warrants	1,500	1,500	—
Preferred Stock, as-converted	19,021	12,976	—
	21,392	15,053	428

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

Schedule of Derivative Instruments

The following tables show the liabilities measured at fair value for the Preferred Stock derivatives above as of December 31, 2020, and December 31, 2019.


	Fair Value Measurements as of December 31, 2020
Description	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Derivative liability - other current liabilities	$	—	$	—	$	2,453
Derivative liability - other non-current liabilities	—		—		664
Description	$	—	$	—	$	3,117


	Fair Value Measurements as of December 31, 2019
Description	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Derivative liability - other current liabilities	$	—	$	—	$	60
Derivative liability - other non-current liabilities	—		—		2,235
Total	$	—	$	—	$	2,295

The following table presents the change in the Preferred Stock derivatives during the twelve months ended December 31, 2020 and 2019.


	Years Ended December 31,
	2020		2019
Beginning balance	$	2,295	$	—
Issuances	—		2,295
Change in fair value (1)	(493)		—
Other (2)	1,315		—
Ending balance	$	3,117	$	2,295

_______________________________

Schedule of Notional Amounts of Outstanding Derivatives

The notional amount of the interest rate swap decreases over time as presented in the following table:


	Notional Amount
February 12, 2019 - December 30, 2020	$	700,000,000
December 31, 2020 - December 30, 2021	466,667,000
December 31, 2021 - October 19, 2022	233,333,000

Schedule of Effect of Interest Rate Swaps

The following table presents the effect of the interest rate swap on the Consolidated Statements of Operations and Comprehensive Income (Loss).


	Years Ended December 31,
	2020		2019
Interest expense	$	8,906	$	1,411
Derivative payments on interest rate swap	4,133		—
Loss on interest rate swap	11,669		—

Schedule of Fair Value Of Liabilities On a Recurring Basis

The following tables present the liabilities measured at fair value on a recurring basis for the interest rate swap as of December 31, 2020, and December 31, 2019.


	Fair Value Measurements as of December 31, 2020
Description	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)


Derivative liability - other current liabilities	$	—	$	11,022	$	—
Derivative liability - other non-current liabilities	—		4,357		—
Total	$	—	$	15,379	$	—


	Fair Value Measurements as of December 31, 2019
Description	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)


Derivative liability - other current liabilities	$	—	$	5,943	$	—
Derivative liability - other non-current liabilities	—		6,290		—
Total	$	—	$	12,233	$	—

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

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Quarterly Financial Information Disclosure [Abstract]

Quarterly Results of Operations (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2020

Summary of Unaudited Quarterly Results of Operations

The following tables present the quarterly results of operations for the years ended December 31, 2020 and 2019.


2020	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
Net sales	$	116,213	$	78,532	$	113,761	$	119,028
Cost of sales (exclusive of depreciation and amortization)	94,478		65,058		90,076		93,982
Income (loss) from continuing operations	(108,077)		(17,566)		1,640		(15,487)
Income (loss) from discontinued operations, net of tax	(140,114)		(4,182)		20,330		162,864
Net income (loss)	(248,191)		(21,748)		21,970		147,377
Comprehensive income (loss)	(272,690)		(19,371)		31,851		170,440
Basic loss from continuing operations per common share	$	(2.64)	$	(0.49)	$	(0.04)	$	(0.44)
Basic net income (loss) per common share	$	(5.96)	$	(0.59)	$	0.45	$	3.41
Diluted loss from continuing operations per common share	$	(2.64)	$	(0.49)	$	(0.04)	$	(0.44)
Diluted net income (loss) per common share	$	(5.96)	$	(0.59)	$	0.45	$	3.41


2019	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
Net sales	$	127,528	$	130,851	$	120,459	$	110,676
Cost of sales (exclusive of depreciation and amortization)	101,369		102,643		96,654		91,816
Loss from continuing operations	(11,517)		(4,453)		(4,836)		(9,943)
Loss from discontinued operations, net of tax	(8,001)		(2,830)		(1,019)		(4,142)
Net loss	(19,518)		(7,283)		(5,855)		(14,085)
Comprehensive loss	(22,053)		(15,742)		(17,976)		(4,210)
Basic loss from continuing operations per common share	$	(0.27)	$	(0.11)	$	(0.12)	$	(0.25)
Basic net loss per common share	$	(0.47)	$	(0.17)	$	(0.14)	$	(0.35)
Diluted loss from continuing operations per common share	$	(0.27)	$	(0.11)	$	(0.12)	$	(0.25)
Diluted net loss per common share	$	(0.47)	$	(0.17)	$	(0.14)	$	(0.35)

Significant Accounting Policies - Additional Information (Detail) $ in Thousands		12 Months Ended
	Oct. 06, 2020 USD ($)	Dec. 31, 2020 USD ($) manufacturing_facility	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Significant Accounting Policies [Line Items]
Number of manufacturing facilities \| manufacturing_facility		32
Proceeds from sale of business		$ 743,178	$ 0	$ 838
Cash and cash equivalents of continuing operations held at foreign financial institutions		17,000	12,700
Gains (losses) on intercompany loan transactions		$ 800	$ 400	$ 3,600
Senior Secured And Incremental Term Loans
Significant Accounting Policies [Line Items]
Repayments of debt	$ 700,000
Life Sciences \| Discontinued Operations, Disposed of by Sale
Significant Accounting Policies [Line Items]
Proceeds from sale of business	$ 757,200
Land and buildings \| Minimum
Significant Accounting Policies [Line Items]
Estimated useful lives		10 years
Land and buildings \| Maximum
Significant Accounting Policies [Line Items]
Estimated useful lives		40 years
Machinery and equipment \| Minimum
Significant Accounting Policies [Line Items]
Estimated useful lives		3 years
Machinery and equipment \| Maximum
Significant Accounting Policies [Line Items]
Estimated useful lives		12 years
Wuxi Weifu Autocam Precision Machinery Company, Ltd.
Significant Accounting Policies [Line Items]
Investment in joint venture		49.00%

Discontinued Operations - Additional Information (Detail) - USD ($) $ in Thousands		3 Months Ended	12 Months Ended
	Oct. 06, 2020	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Aug. 31, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of business			$ 743,178	$ 0	$ 838
Gain on sale of discontinued operations, net of tax			233,824	0	0
Goodwill impairment			92,942	$ 0	$ 182,542
Life Sciences
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Goodwill impairment		$ 146,800
Senior Secured And Incremental Term Loans
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Repayments of debt	$ 700,000
Discontinued Operations, Disposed of by Sale \| Life Sciences
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Aggregate purchase price of the stock purchase plan			753,300			$ 825,000
Cash proceeds						755,000
Potential earnout payment						$ 70,000
Proceeds from sale of business	$ 757,200
Disposal group payables			3,900
Gain on sale of discontinued operations, net of tax			$ 214,900
Support services period			180 days
Estimated tax indemnification			$ 1,200

Discontinued Operations - Summary of Major Line Items Included in Results of Operations of Discontinued Operations (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Goodwill impairment of discontinued operations									$ 146,757	$ 0	$ 0
Income (loss) from discontinued operations, net of tax	$ 162,864	$ 20,330	$ (4,182)	$ (140,114)	$ (4,142)	$ (1,019)	$ (2,830)	$ (8,001)	38,898	(15,992)	(41,767)
Discontinued Operations, Disposed of by Sale \| Life Sciences
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net sales	225,255									357,937	246,463
Cost of sales (exclusive of depreciation and amortization shown separately below)	160,464									249,157	175,787
Selling, general, and administrative expense	$ 20,779									34,328	20,927
Acquisition related costs excluded from selling, general and administrative expense									0	0	5,763
Depreciation and amortization									35,731	46,950	28,102
Restructuring and integration expense, net									0	0	1,438
Goodwill impairment of discontinued operations									146,757	0	0
Other operating expense (income), net									41	20	(737)
Income (loss) from operations									(138,517)	27,482	15,183
Interest expense									48,893	44,125	49,928
Loss on extinguishment of debt and write-off of debt issuance costs									1,388	2,753	19,562
Other expense (income), net									(322)	178	(675)
Loss from discontinued operations before costs of disposal and benefit for income taxes									(188,476)	(19,574)	(53,632)
Benefit for income taxes									12,468	3,582	11,865
Loss from discontinued operations before gain on disposal									(176,008)	(15,992)	(41,767)
Gain on disposal of discontinued operations									212,319	0	0
Benefit for income taxes on gain on disposal									2,587	0	0
Income (loss) from discontinued operations, net of tax									$ 38,898	$ (15,992)	$ (41,767)

Discontinued Operations - Interest Expense Reclassified to Discontinued Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Amortization of debt issuance costs	$ 15,692	$ 4,789	$ 4,845
Total interest expense of discontinued operations	18,898	13,030	11,315
Life Sciences \| Discontinued Operations, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Interest on debt	35,147	40,996	46,406
Amortization of debt issuance costs	13,990	3,368	3,571
Capitalized interest and other	(244)	(239)	(49)
Total interest expense of discontinued operations	$ 48,893	$ 44,125	$ 49,928

Discontinued Operations - Summary of Carrying Amounts of Major Classes of Assets and Liabilities of Discontinued Operations (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash and cash equivalents		$ 13,800	$ 10,200	$ 200
Total current assets of discontinued operations	$ 0	117,000
Total non-current assets of discontinued operations	0	695,054
Total current liabilities of discontinued operations	0	41,546
Total non-current liabilities of discontinued operations	0	84,199
Discontinued Operations, Disposed of by Sale \| Life Sciences
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash and cash equivalents	0	13,792
Accounts receivable, net	0	48,318
Inventories	0	51,644
Other current assets	0	3,246
Total current assets of discontinued operations	0	117,000
Property, plant and equipment, net	0	118,536
Operating lease right-of-use assets	0	20,044
Goodwill	0	344,316
Intangible assets, net	0	211,847
Other non-current assets	0	311
Total non-current assets of discontinued operations	0	695,054
Total assets of discontinued operations	0	812,054
Accounts payable	0	16,367
Accrued salaries, wages and benefits	0	14,844
Income tax payable	0	344
Current portion of operating lease liabilities	0	2,364
Other current liabilities	0	7,627
Total current liabilities of discontinued operations	0	41,546
Deferred tax liabilities	0	61,338
Operating lease liabilities, net of current portion	0	18,405
Other non-current liabilities	0	4,456
Total non-current liabilities of discontinued operations	0	84,199
Total liabilities of discontinued operations	$ 0	$ 125,745

Discontinued Operations - Summary of Significant Noncash Items and Cash Paid for Capital Expenditures of Discontinued Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Depreciation and amortization	$ 35,731	$ 46,950	$ 28,102
Goodwill impairment of discontinued operations	146,757	0	0
Amortization of debt issuance costs	15,692	4,789	4,845
Discontinued Operations, Disposed of by Sale \| Life Sciences
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Depreciation and amortization	35,731	46,950	28,102
Goodwill impairment of discontinued operations	146,757	0	0
Amortization of debt issuance costs	13,990	3,368	3,571
Loss on extinguishment of debt and write-off of debt issuance costs	1,388	2,753	19,562
Acquisition of property, plant and equipment	8,416	21,834	14,759
Right-of-use assets obtained in exchange for new finance lease liabilities	695	5,321	0
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 6,174	$ 51	$ 0

Acquisitions - Additional Information (Detail)	Aug. 09, 2018	May 07, 2018	Feb. 22, 2018
Paragon Medical Inc
Business Acquisition [Line Items]
Acquisition percentage		100.00%
Bridgemedica, LLC
Business Acquisition [Line Items]
Acquisition percentage			100.00%
Southern California Technical Arts, Inc.
Business Acquisition [Line Items]
Acquisition percentage	100.00%

Segment Information - (Detail) $ in Thousands	12 Months Ended
Segment Information - (Detail) $ in Thousands	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($) segment	Dec. 31, 2018 USD ($)
Segment Reporting Information [Line Items]
Reportable segments \| segment		3
Operating segments \| segment		3
Net sales	$ 427,534	$ 489,514	$ 524,194
Depreciation and amortization	45,680	44,896	43,026
Goodwill impairment	92,942	0	182,542
Income (loss) from operations	(117,457)	(17,593)	(195,047)
Interest expense	(18,898)	(13,030)	(11,315)
Other	(15,733)	(1,502)	(2,016)
Loss from continuing operations before benefit (provision) for income taxes and share of net income (loss) from joint venture	(152,088)	(32,125)	(208,378)
Share of net income (loss) from joint venture	3,626	1,681	(14,390)
Expenditures for long-lived assets	15,357	32,169	49,277
Total assets	624,962	1,541,984
Life Sciences \| Discontinued Operations, Disposed of by Sale
Segment Reporting Information [Line Items]
Interest expense	(48,893)	(44,125)	(49,928)
Corporate And Eliminations
Segment Reporting Information [Line Items]
Goodwill impairment	0		0
Mobile Solutions \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	256,360	297,749	335,037
Depreciation and amortization	28,298	27,146	26,217
Goodwill impairment	0		73,442
Income (loss) from operations	5,228	9,553	(55,079)
Share of net income (loss) from joint venture	3,626	1,681	(14,390)
Expenditures for long-lived assets	12,400	24,969	36,660
Total assets	370,985	373,256
Power Solutions \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	171,269	192,100	189,778
Depreciation and amortization	15,730	15,301	14,753
Goodwill impairment	92,942		109,100
Income (loss) from operations	(85,983)	13,881	(95,115)
Share of net income (loss) from joint venture	0	0	0
Expenditures for long-lived assets	2,754	4,457	6,459
Total assets	197,348	310,545
Corporate and Consolidations \| Corporate And Eliminations
Segment Reporting Information [Line Items]
Net sales	(95)	(335)	(621)
Depreciation and amortization	1,652	2,449	2,056
Income (loss) from operations	(36,702)	(41,027)	(44,853)
Share of net income (loss) from joint venture	0	0	0
Expenditures for long-lived assets	203	2,743	$ 6,158
Total assets	$ 56,629	858,183
Corporate and Consolidations \| Corporate And Eliminations \| Life Sciences \| Discontinued Operations, Disposed of by Sale
Segment Reporting Information [Line Items]
Total assets		812,100
Wuxi Weifu Autocam Precision Machinery Company, Ltd.
Segment Reporting Information [Line Items]
Investment in joint venture	49.00%
Wuxi Weifu Autocam Precision Machinery Company, Ltd. \| Mobile Solutions \| Operating Segments
Segment Reporting Information [Line Items]
Total assets	$ 27,000	$ 21,800

Segment Information - Summary of Sales to External Customers and Long-Lived Tangible Assets by Geographical Region (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	$ 223,690	$ 255,977
United States and Puerto Rico
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	130,077	158,444
Europe
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	40,663	38,082
Asia
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	33,854	33,058
Mexico
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	1,230	1,388
South America
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	17,866	25,005
All foreign locations
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	$ 93,613	$ 97,533

Accounts Receivable - Accounts Receivable, Net (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Receivables [Abstract]
Trade	$ 86,659	$ 85,284
Less—allowance for credit losses	2,044	2,044	$ 2,517	$ 2,339
Accounts receivable, net	$ 84,615	$ 83,240

Accounts Receivable - Summary of Activity in the Allowance for Credit Losses (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of year	$ 2,044	$ 2,517	$ 2,339
Additions	505	231	628
Write-offs	(562)	(692)	(400)
Currency impact	57	(12)	(50)
Balance at end of year	$ 2,044	$ 2,044	$ 2,517

Accounts Receivable - Additional Information (Details) - Credit Concentration Risk	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Major Customer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Concentration risk, percentage	11.00%
Major Customer Two
Accounts, Notes, Loans and Financing Receivable [Line Items]
Concentration risk, percentage		10.00%

Inventories - Summary of Inventories (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Inventory Disclosure [Abstract]
Raw materials	$ 22,589	$ 34,816
Work in process	20,758	17,810
Finished goods	19,170	14,452
Total inventories	$ 62,517	$ 67,078

Property, Plant and Equipment - Summary of Property, Plant and Equipment (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 398,834	$ 403,748
Less: Accumulated depreciation	175,144	147,771
Property, plant and equipment, net	223,690	255,977
Land and buildings
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	58,296	57,222
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	339,268	321,110
Construction in progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 1,270	$ 25,416

Property, Plant and Equipment - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Abstract]
Impairment charges	$ 4.1	$ 0.6	$ 5.2
Depreciation expense	$ 31.3	$ 30.4	$ 28.5

Goodwill - Changes in Carrying Amount of Goodwill (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Goodwill [Line Items]
Beginning Balance	$ 94,779	$ 94,505
Currency impact and other	(1,837)	274
Impairments	(92,942)	0	$ (182,542)
Ending Balance	0	94,779	$ 94,505
Mobile Solutions
Goodwill [Line Items]
Beginning Balance	0
Ending Balance	0	0
Power Solutions
Goodwill [Line Items]
Beginning Balance	94,779
Ending Balance	$ 0	$ 94,779

Goodwill - Changes in Gross Carrying Amount of Goodwill and Accumulated Impairment (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Goodwill [Line Items]
Gross Carrying Amount	$ 292,045	$ 293,086
Accumulated Impairment Charges	(292,045)	(198,307)
Net Book Value	0	94,779	$ 94,505
Mobile Solutions
Goodwill [Line Items]
Gross Carrying Amount	78,254	77,458
Accumulated Impairment Charges	(78,254)	(77,458)
Net Book Value	0	0
Power Solutions
Goodwill [Line Items]
Gross Carrying Amount	213,791	215,628
Accumulated Impairment Charges	(213,791)	(120,849)
Net Book Value	$ 0	$ 94,779

Goodwill - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Goodwill [Line Items]
Goodwill	$ 0	$ 94,779	$ 94,505
Goodwill impairment	92,942	$ 0	182,542
Power Solutions
Goodwill [Line Items]
Goodwill impairment	$ 92,900		109,100
Mobile Solutions
Goodwill [Line Items]
Goodwill impairment			$ 73,400

Intangible Assets, Net - Summary of Carrying Amount of Intangible Assets by Segment (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Beginning balance	$ 117,413	$ 131,883
Amortization	(14,348)	(14,473)
Other		3
Ending balance	103,065	117,413
Mobile Solutions
Finite-Lived Intangible Assets [Line Items]
Beginning balance	32,416	35,892
Amortization	(3,354)	(3,479)
Other		3
Ending balance	29,062	32,416
Power Solutions
Finite-Lived Intangible Assets [Line Items]
Beginning balance	84,997	95,991
Amortization	(10,994)	(10,994)
Other		0
Ending balance	$ 74,003	$ 84,997

Intangible Assets, Net - Summary of Carrying Amount of Intangible Assets by Major Asset Class (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value as of Acquisition Date	$ 181,273	$ 181,273
Accumulated Amortization	(78,208)	(63,860)
Net Carrying Value	103,065	117,413	$ 131,883
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value as of Acquisition Date	173,746	173,746
Accumulated Amortization	(74,250)	(60,603)
Net Carrying Value	$ 99,496	113,143
Customer relationships \| Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life in Years	12 years
Customer relationships \| Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life in Years	20 years
Trademark and trade name
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value as of Acquisition Date	$ 7,527	7,527
Accumulated Amortization	(3,958)	(3,257)
Net Carrying Value	$ 3,569	$ 4,270
Trademark and trade name \| Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life in Years	8 years
Trademark and trade name \| Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life in Years	15 years

Intangible Assets, Net - Schedule of Finite Lived Intangible Assets Future Amortization Expense Table (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
2021	$ 14,347
2022	14,347
2023	14,262
2024	13,919
2025	13,919
Thereafter	32,271
Net Carrying Value	$ 103,065	$ 117,413	$ 131,883

Intangible Assets, Net - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Impairment of intangible assets	$ 0.0	$ 0.0

Investment in Joint Venture - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2018	Dec. 31, 2020
Joint Venture
Schedule of Equity Method Investments [Line Items]
Impairment charge	$ 0	$ 16,600,000
Wuxi Weifu Autocam Precision Machinery Company, Ltd.
Schedule of Equity Method Investments [Line Items]
Investment in joint venture			49.00%

Investment in Joint Venture - Summarized Activity Related to Investment in Joint Venture (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Schedule of Equity Method Investments [Line Items]
Beginning Balance	$ 21,755
Share of earnings	3,626	$ 1,681	$ (14,390)
Ending Balance	26,983	21,755
Joint Venture
Schedule of Equity Method Investments [Line Items]
Beginning Balance	21,755
Share of earnings	3,626
Foreign currency translation loss	1,602
Ending Balance	$ 26,983	$ 21,755

Income Taxes - Loss from Continuing Operations Before Benefit for Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest [Abstract]
United States	$ (146,963)	$ (31,760)	$ (200,164)
Foreign	(5,125)	(365)	(8,214)
Loss from continuing operations before benefit (provision) for income taxes and share of net income (loss) from joint venture	$ (152,088)	$ (32,125)	$ (208,378)

Income Taxes - Income Tax Expense (Benefit) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Current taxes:
U.S. Federal	$ (299)	$ (5,948)	$ 5,684
State	4,599	1,656	58
Foreign	2,250	2,247	2,271
Total current tax expense (benefit)	6,550	(2,045)	8,013
Deferred taxes:
U.S. Federal	(10,368)	(1,430)	(6,028)
State	(5,368)	3,850	(214)
U.S. federal and foreign valuation allowance	2,066	(592)	2,263
Foreign	(1,852)	522	(5,582)
Total deferred tax expense (benefit)	(15,522)	2,350	(9,561)
Total income tax expense (benefit)	$ (8,972)	$ 305	$ (1,548)

Income Taxes - Reconciliation of Income Taxes Based on U.S. Federal Statutory Rate (Detail)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
U.S federal statutory income tax rate	21.00%	21.00%	21.00%
Change in valuation allowance, exclusive of state	(1.30%)	1.80%	(1.10%)
State taxes, net of federal taxes, exclusive of tax reform	0.20%	(13.60%)	0.10%
Non-U.S. earnings taxed at different rates	1.40%	3.00%	0.30%
GILTI	(0.10%)	0.00%	0.00%
Goodwill impairment	(12.70%)	0.00%	(17.70%)
Nondeductible asset loss	0.00%	(2.20%)	(0.20%)
Research and development tax credit	0.40%	2.20%	0.30%
Change in uncertain tax positions	2.20%	4.30%	0.50%
Impact of tax reform:
Toll charge, net of foreign tax credit	0.00%	0.00%	0.70%
Remeasurement of deferred taxes pursuant to tax reform	0.00%	0.00%	(1.20%)
Impact of 2019 Treasury regulations	0.00%	(18.40%)	0.00%
CARES Act	2.70%	0.00%	0.00%
Divestiture of business segment, exclusive of tax reform	0.00%	0.00%	(1.10%)
Return to provision	(0.50%)	(0.20%)	(1.00%)
Taxes on unremitted foreign earnings	(3.90%)	(2.20%)	0.00%
Restructuring gain	(2.60%)	0.00%	0.00%
Other adjustments, net	(0.90%)	3.30%	0.10%
Effective tax rate	5.90%	(1.00%)	0.70%

Income Taxes - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Taxes [Line Items]
Effective tax rate on non deductible expense	5.90%	(1.00%)	0.70%
Federal corporate income tax rate	21.00%	21.00%	21.00%
Discrete tax charge		$ 6,000,000.0
Other deferred tax assets	$ 700,000
Valuation allowance on deferred tax assets	21,681,000	15,494,000
Deferred tax liability. repatriation of the unremitted earnings	6,600,000
Income tax examination, penalties and interest accrued	600,000	1,500,000	$ 1,300,000
Amount of unrecognized tax benefits would, if recognized, impact effective tax rate	800,000
Impact of these tax holidays decreased foreign taxes	200,000	$ 0	$ 0
United States and Puerto Rico
Income Taxes [Line Items]
NOL carryovers	0
Valuation allowance on deferred tax assets	1,700,000
Deferred tax asset valuation allowance change in amount net	1,000,000.0
Consolidated State and Local Jurisdiction
Income Taxes [Line Items]
NOL carryovers	3,800,000
Separate State and Local Jurisdiction
Income Taxes [Line Items]
NOL carryovers	234,800,000
Foreign Tax Authority
Income Taxes [Line Items]
NOL carryovers	6,100,000
Operating loss carryforward, valuation allowance	3,100,000
Tax credits	3,400,000
Deferred tax asset valuation allowance change in amount net	2,200,000
State and Local Jurisdiction
Income Taxes [Line Items]
Operating loss carryforward, valuation allowance	12,600,000
Tax credits	200,000
Deferred tax asset valuation allowance change in amount net	$ 3,100,000

Income Taxes - Principal Components of Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Deferred income tax liabilities:
Tax in excess of book depreciation	$ 27,459	$ 28,329
Intangible assets	23,695	26,474
Operating leases	11,149	12,697
Taxes on unremitted foreign earnings	6,601	0
Other deferred tax liabilities	533	2,178
Total deferred income tax liabilities	69,437	69,678
Deferred income tax assets:
Interest expense limitation	3,811	14,073
Goodwill	25,653	386
Inventories	3,224	2,447
Interest rate swap	3,611	2,838
Pension/Personnel accruals	2,909	1,669
Operating leases	13,209	14,438
Net operating loss carryforwards	18,659	15,486
R&D credit carryforwards	0	2,463
Non-U.S. credit carryforwards	3,574	3,419
Accruals and reserves	2,399	2,335
Other deferred tax assets	2,891	1,157
Deferred income tax assets before valuation allowance	79,940	60,711
Valuation allowance on deferred tax assets	(21,681)	(15,494)
Total deferred income tax assets	58,259	45,217
Net deferred income tax liabilities	$ 11,178	$ 24,461

Income Taxes - Summary of Reconciliation of Beginning and Ending Amounts of Unrecognized Tax Benefits, Excluding Interest and Penalties (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at beginning of year	$ 2,589	$ 4,609	$ 5,655
Additions for tax positions of prior years	121	0	304
Settlements for tax positions of prior years	0	(275)	0
Reductions for tax positions of prior years	(2,463)	(1,745)	(1,350)
Balance at end of year	$ 247	$ 2,589	$ 4,609

Debt - Additional Information (Detail) - USD ($) $ in Thousands		1 Months Ended	12 Months Ended
	Oct. 06, 2020	Aug. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Line of Credit Facility [Line Items]
Capitalized interest costs			$ 200	$ 1,500	$ 1,100
Proceeds from sale of business			743,178	0	838
Loss on extinguishment of debt and write-off of debt issuance costs			1,532	3,293	$ 19,562
Current maturities of long-term debt			4,885	19,106
Life Sciences \| Discontinued Operations, Disposed of by Sale
Line of Credit Facility [Line Items]
Proceeds from sale of business	$ 757,200
Senior Secured Term Loan
Line of Credit Facility [Line Items]
Debt instrument, face amount			$ 545,000
Interest rate during period			6.50%
Senior debt			$ 47,728	526,313
Senior Secured Term Loan \| London Interbank Offered Rate (LIBOR)
Line of Credit Facility [Line Items]
Basis spread on variable rate			5.75%
Senior Secured Term Loan \| London Interbank Offered Rate (LIBOR) \| Minimum
Line of Credit Facility [Line Items]
Interest rate			0.75%
Incremental Term Loan
Line of Credit Facility [Line Items]
Debt instrument, face amount			$ 300,000
Interest rate during period			5.90%
Senior debt			$ 22,716	257,111
Incremental Term Loan \| London Interbank Offered Rate (LIBOR)
Line of Credit Facility [Line Items]
Basis spread on variable rate			5.75%
Senior Secured Revolver
Line of Credit Facility [Line Items]
Line of credit face amount			$ 60,000	75,000
Commitment fee percentage			0.50%
Senior debt			$ 0	$ 0
Future borrowing capacity			45,400
Outstanding letters of credit			$ 14,600
Minimum payment on senior secured revolver		$ 15,000
Excess cash		35,000
Senior Secured Revolver \| Debt Covenant Period Two
Line of Credit Facility [Line Items]
Line of credit face amount		50,000
Senior Secured Revolver \| London Interbank Offered Rate (LIBOR)
Line of Credit Facility [Line Items]
Basis spread on variable rate			4.00%
Senior Secured Revolver \| Prime Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate			3.00%
Credit Agreement
Line of Credit Facility [Line Items]
Cash proceeds from sale		$ 675,000
Debt issuance costs			$ 400
Loss on extinguishment of debt and write-off of debt issuance costs			$ 1,500
Senior Secured And Incremental Term Loans
Line of Credit Facility [Line Items]
Repayments of debt	$ 700,000
Foreign Line of Credit
Line of Credit Facility [Line Items]
Debt, weighted average interest rate			2.77%
Weighted average remaining term			6 years 8 months 12 days
International credit facilities			$ 14,400
Current maturities of long-term debt			4,500
Interest Rate Swap
Line of Credit Facility [Line Items]
Derivative, notional amount			$ 700,000
Derivative, fixed interest rate			2.4575%

Debt - Summary of Debt (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
International lines of credit and other loans	$ 14,400	$ 9,600
Total principal	84,862	793,003
Less-current maturities of long-term debt	4,885	19,106
Principal, net of current portion	79,977	773,897
Less-unamortized debt issuance costs	952	16,647
Long-term debt, net of current portion	79,025	757,250
Debt issuance costs, line of credit arrangements, net	1,800	3,000
Senior Secured Term Loan
Debt Instrument [Line Items]
Senior debt	47,728	526,313
Incremental Term Loan
Debt Instrument [Line Items]
Senior debt	22,716	257,111
Foreign Line of Credit
Debt Instrument [Line Items]
International lines of credit and other loans	14,418	$ 9,579
Less-current maturities of long-term debt	$ 4,500

Debt - Aggregate Maturities of Long-Term Debt (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Debt Disclosure [Abstract]
2021	$ 4,885
2022	71,664
2023	1,632
2024	1,474
2025	1,553
Thereafter	3,654
Total principal	$ 84,862	$ 793,003

Leases - Narrative (Details) - USD ($) $ in Thousands	1 Months Ended	9 Months Ended	12 Months Ended
Leases - Narrative (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2020	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2017
Lessee, Lease, Description [Line Items]
Cumulative effect of new accounting principle in period of adoption		$ 254,152	$ 254,152	$ 419,271	$ 353,277	$ 485,329
Operating lease, term of contract		15 years	15 years
Rent expense	$ 27,500
Operating lease, reduction of base rent payments over lease term	1,300
Increase (decrease) in operating lease, right-of-use asset	(8,100)
Decrease in operating lease, liability, noncurrent	10,500
Decrease in operating lease, liability, current	600
Increase (decrease) in change between operating lease right-of-use assets and operating lease, liabilities	3,000
Loss on termination of lease	4,400
Impairment charge on termination of lease	$ 2,900
Rent expense				8,700
COVID-19
Lessee, Lease, Description [Line Items]
Lessee, operating lease, deferred lease payments		$ 500
Increase (decrease) in cash savings			$ 700
COVID-19 \| Continuing Operations
Lessee, Lease, Description [Line Items]
Increase (decrease) in cash savings			400
Adoption of new accounting standard
Lessee, Lease, Description [Line Items]
Cumulative effect of new accounting principle in period of adoption				(51)		16
Retained earnings (Accumulated deficit)
Lessee, Lease, Description [Line Items]
Cumulative effect of new accounting principle in period of adoption		$ (205,875)	$ (205,875)	(58,491)	$ (105,283)	210,265
Retained earnings (Accumulated deficit) \| Adoption of new accounting standard
Lessee, Lease, Description [Line Items]
Cumulative effect of new accounting principle in period of adoption				(51)		$ 16
Accounting Standards Update 2016-02 \| Retained earnings (Accumulated deficit) \| Adoption of new accounting standard
Lessee, Lease, Description [Line Items]
Cumulative effect of new accounting principle in period of adoption				$ 100
Minimum \| Equipment
Lessee, Lease, Description [Line Items]
Finance lease, term of contract		2 years	2 years
Operating lease, term of contract		2 years	2 years
Minimum \| Manufacturing Facility
Lessee, Lease, Description [Line Items]
Operating lease, term of contract		2 years	2 years
Maximum \| Equipment
Lessee, Lease, Description [Line Items]
Finance lease, term of contract		7 years	7 years
Operating lease, term of contract		5 years	5 years
Maximum \| Manufacturing Facility
Lessee, Lease, Description [Line Items]
Operating lease, term of contract		20 years	20 years

Leases - Finance and Operating Lease Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Finance lease cost
Amortization of right-of-use assets	$ 1,272	$ 1,229
Interest expense	192	226
Operating lease cost	8,396	9,108
Short-term lease cost	591	479
Variable lease cost	1	1
Total lease cost	10,452	11,043
Assets
Operating lease right-of-use assets	50,264	45,452
Property, plant and equipment, net	14,644	13,267
Lease, Right-Of-Use Asset	$ 64,908	$ 58,719
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	us-gaap:PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization	us-gaap:PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
Current liabilities:
Current portion of operating lease liabilities	$ 4,797	$ 4,288
Other current liabilities	$ 4,252	$ 2,701
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilitiesCurrent	us-gaap:OtherLiabilitiesCurrent
Non-current liabilities:
Operating lease liabilities, net of current portion	$ 55,053	$ 48,575
Other non-current liabilities	6,858	7,911
Total lease liabilities	$ 70,960	$ 63,475
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilitiesNoncurrent	us-gaap:OtherLiabilitiesNoncurrent

Leases - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows used in finance leases	$ 192	$ 226
Operating cash flows used in operating leases	13,498	14,090
Financing cash flows used in finance leases	2,018	3,156
Right-of-use assets obtained in exchange for new finance lease liabilities	728	5,250
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 8,682	$ 8,457

Leases - Weighted Average Remaining Lease Term and Discount Rate (Details)	Dec. 31, 2020	Dec. 31, 2019
Weighted Average Remaining Lease Term
Finance Lease, Weighted Average Remaining Lease Term	3 years 2 months 12 days	4 years
Operating Lease, Weighted Average Remaining Lease Term	11 years 8 months 12 days	11 years
Weighted Average Discount Rate
Finance Lease, Weighted Average Discount Rate, Percent	2.20%	2.20%
Operating Lease, Weighted Average Discount Rate, Percent	7.00%	5.70%

Leases - Future Minimum Lease Obligations After Adoption of 842 (Details) $ in Thousands	Dec. 31, 2020 USD ($)
Operating Leases
2021	$ 9,348
2022	8,485
2023	7,370
2024	7,276
2025	7,194
Thereafter	48,523
Total future minimum lease payments	88,196
Less: imputed interest	28,346
Total lease liabilities	59,850
Finance Lease, Liability, Payment, Due [Abstract]
2021	4,442
2022	3,107
2023	2,365
2024	1,122
2025	223
Thereafter	210
Total future minimum lease payments	11,469
Less: imputed interest	359
Total lease liabilities	$ 11,110

Restructuring and Integration - Summary of Restructuring and Integration Charges and Reserve Activity (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Restructuring Cost and Reserve [Line Items]
Severance and other costs			$ 626
Site closure and other associated costs		$ (12)	63
Restructuring Reserve [Roll Forward]
Reserve beginning balance	$ 0	153	1,099
Charges	0	(12)	689
Non-cash Adjustments		0	(56)
Cash Reductions		(141)	(1,579)
Reserve ending balance		0	153
Severance and other employee costs
Restructuring Reserve [Roll Forward]
Reserve beginning balance	0	129	0
Charges		0	626
Non-cash Adjustments		0	0
Cash Reductions		(129)	(497)
Reserve ending balance		0	129
Site closure and other associated costs
Restructuring Reserve [Roll Forward]
Reserve beginning balance	$ 0	24	1,099
Charges		(12)	63
Non-cash Adjustments		0	(56)
Cash Reductions		(12)	(1,082)
Reserve ending balance		0	24
Operating Segments \| Mobile Solutions
Restructuring Cost and Reserve [Line Items]
Severance and other costs			0
Site closure and other associated costs		(12)	63
Restructuring Reserve [Roll Forward]
Charges		(12)	63
Operating Segments \| Mobile Solutions \| Site closure and other associated costs
Restructuring Cost and Reserve [Line Items]
Severance and other costs			600
Corporate And Eliminations
Restructuring Cost and Reserve [Line Items]
Severance and other costs			626
Site closure and other associated costs		0	0
Restructuring Reserve [Roll Forward]
Charges		$ 0	$ 626

Restructuring and Integration - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 0	$ (12)	$ 689
Severance and other costs			626
Site closure and other associated costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges		(12)	63
Operating Segments \| Mobile Solutions
Restructuring Cost and Reserve [Line Items]
Restructuring charges		$ (12)	63
Severance and other costs			0
Operating Segments \| Mobile Solutions \| Site closure and other associated costs
Restructuring Cost and Reserve [Line Items]
Severance and other costs			$ 600

Commitments and Contingencies - Additional Information (Detail) - USD ($) shares in Millions, $ in Millions		1 Months Ended
	Nov. 01, 2019	Sep. 30, 2018	Dec. 31, 2020
Contingencies And Commitments [Line Items]
Shares issued (in shares)	14.4	14.4
Maximum
Contingencies And Commitments [Line Items]
Possible loss estimated			$ 5.0

Preferred Stock and Stockholders' Equity - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands				1 Months Ended	12 Months Ended
	Apr. 15, 2020	Dec. 11, 2019	Nov. 01, 2019	Sep. 30, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Subsidiary, Sale of Stock [Line Items]
Class of warrant or right, number of securities called by warrants or rights (in shares)		1,500,000
Class of warrant or right, exercise price of warrants or rights (in dollars per share)		$ 12.00			$ 12.00
Proceeds from issuance of preferred stock					$ 0	$ 95,741	$ 0
Temporary equity, carrying amount					105,086	93,012
Accrual of in-kind dividends					$ 13,000
Number of shares of common stock sold (in shares)			14,400,000	14,400,000
Public offering price per share (in dollars per shares)				$ 16.00
Net proceeds to NN from the offering				$ 217,300
Common Stock
Subsidiary, Sale of Stock [Line Items]
Number of shares of common stock sold (in shares)							14,375,000
Series C Preferred Stock
Subsidiary, Sale of Stock [Line Items]
Class of warrant or right, exercise price of warrants or rights (in dollars per share)	$ 31.50
Purchase right, beneficial owner threshold, percentage	15.00%
Series C Preferred Stock \| Common Stock
Subsidiary, Sale of Stock [Line Items]
Class of warrant or right, exercise price of warrants or rights (in dollars per share)	$ 0.001
Purchase right, number of shares called by each right (in shares)	1
Series B Convertible Preferred Stock
Subsidiary, Sale of Stock [Line Items]
Temporary equity, liquidation price per share (in dollars per share)		$ 1,000
Proceeds from issuance of preferred stock		$ 95,700
Temporary equity, dividend rate, percentage					10.625%
Temporary equity, carrying amount					$ 105,086	93,012	$ 0
Accrual of in-kind dividends					$ 11,121	$ 590
Series B Convertible Preferred Stock \| Private Placement
Subsidiary, Sale of Stock [Line Items]
Sale of stock, number of shares issued in transaction (in shares)		100,000
Temporary equity, par value (in dollars per share)		$ 0.01
Sale of stock, price per share (in dollars per share)		$ 1,000

Preferred Stock and Stockholders' Equity - Change in Preferred Stock Carrying Value (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Increase (Decrease) in Temporary Equity [Roll Forward]
Beginning balance	$ 93,012
Accrual of in-kind dividends	13,000
Ending balance	105,086	$ 93,012
Series B Convertible Preferred Stock
Increase (Decrease) in Temporary Equity [Roll Forward]
Beginning balance	93,012	0
Gross proceeds from issuance of shares	0	100,000
Relative fair value of Warrants issued	0	(1,076)
Recognition of bifurcated embedded derivative	0	(2,295)
Allocation of issuance costs to Preferred Stock	0	(4,259)
Accrual of in-kind dividends	11,121	590
Amortization and other	953	52
Ending balance	$ 105,086	$ 93,012

Carrying amount, attributable to parent and noncontrolling interests, of an entity's issued and outstanding stock which is not included within permanent equity. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. Includes stock with a put option held by an ESOP and stock redeemable by a holder only in the event of a change in control of the issuer.

+ References + Details

Revenue from Contracts with Customers Summary of Sales to External Customer by Operating Segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disaggregation of Revenue [Line Items]
Net sales	$ 427,534	$ 489,514	$ 524,194
United States and Puerto Rico
Disaggregation of Revenue [Line Items]
Net sales	268,551	319,055	343,914
China
Disaggregation of Revenue [Line Items]
Net sales	52,005	45,515	49,147
Brazil
Disaggregation of Revenue [Line Items]
Net sales	27,744	36,358	35,529
Mexico
Disaggregation of Revenue [Line Items]
Net sales	29,865	32,304	39,307
Germany
Disaggregation of Revenue [Line Items]
Net sales	6,224	6,437	5,678
Poland
Disaggregation of Revenue [Line Items]
Net sales	4,927	6,378	7,023
Other
Disaggregation of Revenue [Line Items]
Net sales	38,218	43,467	43,596
Operating Segments \| Mobile Solutions
Disaggregation of Revenue [Line Items]
Net sales	256,360	297,749	335,037
Operating Segments \| Mobile Solutions \| United States and Puerto Rico
Disaggregation of Revenue [Line Items]
Net sales	129,147	162,445	187,178
Operating Segments \| Mobile Solutions \| China
Disaggregation of Revenue [Line Items]
Net sales	46,442	38,793	43,610
Operating Segments \| Mobile Solutions \| Brazil
Disaggregation of Revenue [Line Items]
Net sales	27,055	36,058	35,314
Operating Segments \| Mobile Solutions \| Mexico
Disaggregation of Revenue [Line Items]
Net sales	16,465	18,815	27,053
Operating Segments \| Mobile Solutions \| Germany
Disaggregation of Revenue [Line Items]
Net sales	5,846	6,372	5,652
Operating Segments \| Mobile Solutions \| Poland
Disaggregation of Revenue [Line Items]
Net sales	4,913	6,363	7,010
Operating Segments \| Mobile Solutions \| Other
Disaggregation of Revenue [Line Items]
Net sales	26,492	28,903	29,220
Operating Segments \| Power Solutions
Disaggregation of Revenue [Line Items]
Net sales	171,269	192,100	189,778
Operating Segments \| Power Solutions \| United States and Puerto Rico
Disaggregation of Revenue [Line Items]
Net sales	139,499	156,945	157,357
Operating Segments \| Power Solutions \| China
Disaggregation of Revenue [Line Items]
Net sales	5,563	6,722	5,537
Operating Segments \| Power Solutions \| Brazil
Disaggregation of Revenue [Line Items]
Net sales	689	300	215
Operating Segments \| Power Solutions \| Mexico
Disaggregation of Revenue [Line Items]
Net sales	13,400	13,489	12,254
Operating Segments \| Power Solutions \| Germany
Disaggregation of Revenue [Line Items]
Net sales	378	65	26
Operating Segments \| Power Solutions \| Poland
Disaggregation of Revenue [Line Items]
Net sales	14	15	13
Operating Segments \| Power Solutions \| Other
Disaggregation of Revenue [Line Items]
Net sales	11,726	14,564	14,376
Intersegment Sales Eliminations
Disaggregation of Revenue [Line Items]
Net sales	(95)	(335)	(621)
Intersegment Sales Eliminations \| United States and Puerto Rico
Disaggregation of Revenue [Line Items]
Net sales	(95)	(335)	(621)
Intersegment Sales Eliminations \| China
Disaggregation of Revenue [Line Items]
Net sales	0	0	0
Intersegment Sales Eliminations \| Brazil
Disaggregation of Revenue [Line Items]
Net sales	0	0	0
Intersegment Sales Eliminations \| Mexico
Disaggregation of Revenue [Line Items]
Net sales	0	0	0
Intersegment Sales Eliminations \| Germany
Disaggregation of Revenue [Line Items]
Net sales	0	0	0
Intersegment Sales Eliminations \| Poland
Disaggregation of Revenue [Line Items]
Net sales	0	0	0
Intersegment Sales Eliminations \| Other
Disaggregation of Revenue [Line Items]
Net sales	$ 0	$ 0	$ 0

Revenue from Contracts with Customers Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenue, Major Customer [Line Items]
Net sales	$ 427,534	$ 489,514	$ 524,194
Major Customer
Revenue, Major Customer [Line Items]
Net sales		$ 49,700	$ 65,300
Sales Revenue, Net \| Customer Concentration Risk \| Major Customer
Revenue, Major Customer [Line Items]
Concentration risk, percentage (less than for the year ended 12/31/20)	10.00%	10.00%	12.00%

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
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