Company: TTMI
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000950170-25-024839
Chunk: 161

Company: TTM TECHNOLOGIES INC
Filing Date: 2025-02-21
Form: 10-K
Item: Item 1B
Chunk 161
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 not included in the computation of diluted earnings per share because the performance conditions had not been met, and for the RSUs and stock options, the options’ exercise prices or the total expected proceeds under the treasury stock method was greater than the average market price of common stock during the applicable year and, as a result, the impact would be anti-dilutive.For the year ended January 1, 2024, potential shares of common stock, consisting of stock options to purchase 60 shares of common stock at exercise prices ranging from $11.83 to $16.60 per share, 3,527 RSUs, and 668 PRUs were not included in the computation of diluted earnings per share because the Company incurred a net loss and as a result, the impact would be anti-dilutive.

(16)Restructuring ChargesOn February 8, 2023, the Company announced a consolidation plan, pursuant to which the Company ceased operations at three of its manufacturing facilities during the year ended January 1, 2024 and consolidated the operations of those facilities into other Company facilities. The three manufacturing facilities are PCB operations located in Anaheim and Santa Clara, California, and Hong Kong. The Company recorded $27,439 of restructuring charges and $6,032 of accelerated depreciation since the February 8, 2023 announcement.In addition to this consolidation plan, the Company recognized employee separation, contract termination, and other costs during the year ended December 30, 2024 in connection with other global realignment restructuring efforts. Contract termination and other costs primarily represented plant closure costs.Restructuring costs by reportable segment were as follows: 

        For the Year Ended

        December 30, 2024

        January 1, 2024

        January 2, 2023

        Employee Separation/Severance

        Contract Terminationand Other Costs

        Total

        Employee Separation/Severance

        Contract Terminationand Other Costs

        Total

        Employee Separation/Severance

        Contract Terminationand Other Costs

        Total

        (In thousands)

        PCB
         
        $
        466

        $
        7,640

        $
        8,106

        $
        13,780

        $
        9,877

        $
        23,657

        $
        2,510

        $
        1,036

        $
        3,546

        RF&S Components