NN (NNBR) 10-Q 6 May 22 2022 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2022	Apr. 29, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
Document Transition Report	false
Entity File Number	000-23486
Entity Registrant Name	NN, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	62-1096725
Entity Address, Address Line One	6210 Ardrey Kell Road, Suite 600
Entity Address, City or Town	Charlotte
Entity Address, State or Province	NC
Entity Address, Postal Zip Code	28277
City Area Code	980
Local Phone Number	264-4300
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	NNBR
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		43,890,305
Entity Central Index Key	0000918541
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Amendment Flag	false

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Statement [Abstract]
Net sales	$ 128,067	$ 126,804
Cost of sales (exclusive of depreciation and amortization shown separately below)	104,578	99,688
Selling, general, and administrative expense	13,454	14,575
Depreciation and amortization	11,429	11,568
Other operating expense (income), net	2,026	(5)
Income (loss) from operations	(3,420)	978
Interest expense	3,439	2,024
Loss on extinguishment of debt and write-off of debt issuance costs	0	2,390
Derivative payments on interest rate swap	0	1,717
Loss on interest rate swap	0	2,033
Other income, net	(2,996)	(122)
Loss before benefit (provision) for income taxes and share of net income from joint venture	(3,863)	(7,064)
Benefit (provision) for income taxes	(1,531)	756
Share of net income from joint venture	2,092	1,395
Loss from continuing operations	(3,302)	(4,913)
Net loss	(3,302)	(4,913)
Other comprehensive income (loss):
Foreign currency translation gain (loss)	2,600	(3,347)
Change in fair value, net of tax	1,187	0
Reclassification adjustment for losses included in net loss, net of tax	34	2,851
Other comprehensive income (loss)	3,821	(496)
Comprehensive income (loss)	$ 519	$ (5,409)
Basic net loss per common share:
Net loss per common share (in dollars per shares)	$ (0.13)	$ (0.46)
Weighted average common shares outstanding, basic (in shares)	44,594	42,672
Diluted net loss per common share:
Net loss per common share (in dollars per share)	$ (0.13)	$ (0.46)
Weighted average common shares outstanding, diluted (in shares)	44,594	42,672

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 20,627	$ 28,656
Accounts receivable, net of allowances of $1,684 and $1,352 at March 31, 2022 and December 31, 2021, respectively	89,397	71,419
Inventories	81,239	75,027
Income tax receivable	11,055	11,808
Other current assets	14,989	9,372
Total current assets	217,307	196,282
Property, plant and equipment, net of accumulated depreciation of $207,636 and $197,936 at March 31, 2022 and December 31, 2021, respectively	208,286	209,105
Operating lease right-of-use assets	46,771	46,443
Intangible assets, net	85,131	88,718
Investment in joint venture	32,177	34,045
Deferred tax assets	313	314
Other non-current assets	5,863	4,194
Total assets	595,848	579,101
Current liabilities:
Accounts payable	48,906	36,710
Accrued salaries, wages and benefits	20,695	17,739
Income tax payable	676	2,072
Current maturities of long-term debt	3,138	3,074
Current portion of operating lease liabilities	4,962	5,704
Other current liabilities	13,457	8,718
Total current liabilities	91,834	74,017
Deferred tax liabilities	7,920	7,456
Long-term debt, net of current portion	150,400	151,052
Operating lease liabilities, net of current portion	51,597	51,295
Other non-current liabilities	14,724	17,289
Total liabilities	316,475	301,109
Commitments and contingencies (Note 9)
Common stock - $0.01 par value per share, 90,000 shares authorized, 43,890 and 43,027 shares issued and outstanding at March 31, 2022 and December 31, 2021, respectively	439	430
Additional paid-in capital	473,072	474,757
Accumulated deficit	(222,402)	(219,100)
Accumulated other comprehensive loss	(28,081)	(31,902)
Total stockholders’ equity	223,028	224,185
Total liabilities, preferred stock, and stockholders’ equity	595,848	579,101
Series D Preferred Stock
Current liabilities:
Series D perpetual preferred stock - $0.01 par value per share, 65 shares authorized, issued and outstanding at March 31, 2022 and December 31, 2021, respectively	$ 56,345	$ 53,807

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Accounts Receivable, Allowance for Credit Loss, Current	$ 1,684	$ 1,352
Property, Plant, and Equipment and Finance Lease Right-of-Use Asset, Accumulated Depreciation and Amortization	$ 207,636	$ 197,936
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	90,000	90,000
Common stock, shares issued (in shares)	43,890	43,027
Common stock, shares outstanding (in shares)	43,890	43,027
Series D Preferred Stock
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	65	65
Preferred stock, shares issued (in shares)	65	65
Preferred stock, shares outstanding (in shares)	65	65

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Additional paid-in capital	Accumulated deficit	Accumulated other comprehensive income (loss)
Beginning balance (in shares) at Dec. 31, 2020		42,686,000
Beginning balance at Dec. 31, 2020	$ 254,152	$ 427	$ 493,332	$ (205,875)	$ (33,732)
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Net loss	(4,913)			(4,913)
Dividends accrued for preferred stock	(14,529)		(14,529)
Share-based compensation expense (in shares)		413,000
Share-based compensation expense	886	$ 4	882
Restricted shares forgiven for taxes (in shares)		(50,000)
Restricted shares forgiven for taxes	(345)		(344)
Change in fair value of interest rate swap, net of tax	0
Reclassification of interest rate swap settlement to net income (loss), net of tax	2,851				2,851
Foreign currency translation gain (loss)	(3,347)				(3,347)
Ending balance (in shares) at Mar. 31, 2021		43,049,000
Ending balance at Mar. 31, 2021	234,755	$ 430	479,341	(210,788)	(34,228)
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	224,185
Beginning balance (in shares) at Dec. 31, 2021		43,027,000
Beginning balance at Dec. 31, 2021	224,185	$ 430	474,757	(219,100)	(31,902)
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Net loss	(3,302)			(3,302)
Dividends accrued for preferred stock	(2,538)		(2,538)
Share-based compensation expense (in shares)		893,000
Share-based compensation expense	949	$ 9	940
Restricted shares forgiven for taxes (in shares)		(30,000)
Restricted shares forgiven for taxes	(87)	$ 0	(87)
Change in fair value of interest rate swap, net of tax	1,187				1,187
Reclassification of interest rate swap settlement to net income (loss), net of tax	34				34
Foreign currency translation gain (loss)	2,600				2,600
Ending balance (in shares) at Mar. 31, 2022		43,890,000
Ending balance at Mar. 31, 2022	223,028	$ 439	$ 473,072	$ (222,402)	$ (28,081)
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ 223,028

Condensed Consolidated Statem_3

Condensed Consolidated Statement of Changes in Stockholders' Equity (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Stockholders' Equity [Abstract]
Change in fair value of interest rate swap, tax	$ 316
Reclassification of interest rate swap settlement, tax	$ 9	$ 861

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net loss	$ (3,302)	$ (4,913)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization	11,429	11,568
Amortization of debt issuance costs and discount	332	405
Impairments of property, plant and equipment	233	0
Loss on extinguishment of debt and write-off of debt issuance costs	0	2,390
Total derivative loss (gain), net of cash settlements	(2,543)	3,301
Share of net income from joint venture, net of cash dividends received	1,934	(1,395)
Share-based compensation expense	949	886
Deferred income taxes	(42)	(1,605)
Other	(826)	(1,081)
Changes in operating assets and liabilities:
Accounts receivable	(17,633)	(6,684)
Inventories	(5,536)	(5,589)
Accounts payable	11,416	7,094
Income taxes receivable and payable, net	(631)	(344)
Other	(1,003)	3,851
Net cash provided by (used in) operating activities	(5,223)	7,884
Cash flows from investing activities
Acquisition of property, plant and equipment	(4,262)	(5,468)
Proceeds from sale of property, plant, and equipment	36	11
Cash settlements of interest rate swap	0	(15,420)
Net cash used in investing activities	(4,226)	(20,877)
Cash flows from financing activities
Cash paid for debt issuance costs	0	(6,856)
Proceeds from issuance of preferred stock	0	61,918
Redemption of preferred stock	0	122,434
Proceeds from long-term debt	8,000	150,000
Repayments of long-term debt	(8,729)	(70,721)
Repayments of short-term debt, net	0	(1,090)
Other	(787)	(1,189)
Net cash provided by (used in) financing activities	(1,516)	9,628
Effect of exchange rate changes on cash flows	2,936	(1,740)
Net change in cash and cash equivalents	(8,029)	(5,105)
Cash and cash equivalents at beginning of period	28,656	48,138
Cash cash equivalents at end of period	$ 20,627	$ 43,033

Interim Financial Statements

Interim Financial Statements	3 Months Ended
	Mar. 31, 2022
Quarterly Financial Information Disclosure [Abstract]
Interim Financial Statements	Interim Financial Statements 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 automotive, general industrial, electrical, aerospace, defense, and medical markets. As used in this Quarterly Report on Form 10-Q (this “Quarterly Report”), the terms “NN,” the “Company,” “we,” “our,” or “us” refer to NN, Inc., and its subsidiaries. Basis of Presentation The accompanying condensed consolidated financial statements have not been audited. The Condensed Consolidated Balance Sheet as of December 31, 2021, was derived from the audited consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2021 (the “2021 Annual Report”), which we filed with the U.S. Securities and Exchange Commission (the “SEC”) on March 11, 2022. In management’s opinion, the accompanying unaudited condensed consolidated financial statements reflect all adjustments necessary to fairly state our results of operations for the three months ended March 31, 2022 and 2021; financial position as of March 31, 2022 and December 31, 2021; and cash flows for the three months ended March 31, 2022 and 2021, on a basis consistent with our audited consolidated financial statements. These adjustments are of a normal recurring nature and are, in the opinion of management, necessary to state fairly the Company’s financial position and operating results for the interim periods. Certain prior period amounts have been reclassified to conform to the current year’s presentation. Certain information and footnote disclosures normally included in the consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) have been condensed or omitted from the unaudited condensed consolidated financial statements presented in this Quarterly Report. These unaudited condensed consolidated financial statements should be read in conjunction with our audited consolidated financial statements and accompanying notes included in the 2021 Annual Report. The results for the three months ended March 31, 2022, are not necessarily indicative of results for the year ending December 31, 2022, or any other future periods. Except for per share data or as otherwise indicated, all U.S. dollar amounts and share counts presented in the tables in these Notes to Condensed Consolidated Financial Statements are in thousands. Accounting Standards Recently Adopted 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. The adoption of ASU 2020-06 effective January 1, 2022 did not have a material impact on our consolidated financial statements and related disclosures. In May 2021, the FASB issued ASU 2021-04, Issuer’s Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options (“ASU 2021-04”), which clarifies the accounting for modifications or exchanges of freestanding equity-classified written call options that remain equity classified after modification or exchange. Specifically, ASU 2021-04 requires the issuer to treat a modification of an equity-classified warrant as an exchange of the original warrant. The difference between the fair value of the modified warrant and the fair value of the warrant immediately before modification is then recognized as an issuance cost or discount of the related transaction. Since we do not have any equity-classified written call options that would be subject to this guidance, the adoption of ASU 2021-04 did not have any impact on our consolidated financial statements and related disclosures during the three months ended March 31, 2022. Accounting Standards Not Yet Adopted In November 2021, the FASB issued ASU 2021-10, Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance (“ASU 2021-10”), which requires business entities to provide certain annual disclosures when they have received government assistance and use a grant or contribution accounting model by analogy to other accounting guidance. Such disclosures include the nature of the transactions, significant terms and conditions, accounting policies, and affected financial statement line items. ASU 2021-10 may be applied either prospectively or retrospectively. We are in the process of assessing the impact ASU 2021-10 may have on our annual disclosures for the year ending December 31, 2022.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Segment Information	Segment Information Our business is aggregated into the following two reportable segments: • Mobile Solutions, which is focused on growth in the automotive and general industrial end markets; and • Power Solutions, which is focused on growth in the electrical, general industrial, automotive, aerospace, defense, and medical end markets. These divisions are considered our two operating segments as each engages 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. The following tables present results of operations by reportable segment. Mobile Power Corporate Total Three Months Ended March 31, 2022 Net sales $ 76,070 $ 52,011 $ (14) (a) $ 128,067 Income (loss) from operations 1,969 364 (5,753) (3,420) Interest expense (3,439) Other 2,996 Loss from operations before income taxes and share of net income from joint venture $ (3,863) Three Months Ended March 31, 2021 Net sales $ 77,776 $ 49,075 $ (47) (a) $ 126,804 Income (loss) from operations 6,090 2,432 (7,544) 978 Interest expense (2,024) Other (6,018) Loss from operations before income taxes and share of net income from joint venture $ (7,064) _______________________________ (a) Includes elimination of intersegment transactions occurring during the ordinary course of business.

Inventories

Inventories	3 Months Ended
	Mar. 31, 2022
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories are comprised of the following amounts: March 31, 2022 December 31, 2021 Raw materials $ 31,108 $ 27,221 Work in process 28,857 24,960 Finished goods 21,274 22,846 Total inventories $ 81,239 $ 75,027

Intangible Assets, Net

Intangible Assets, Net	3 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets, Net	Intangible Assets, Net The following table shows changes in the carrying amount of intangible assets, net, by reportable segment. Mobile Power Total Balance as of December 31, 2021 $ 25,709 $ 63,009 $ 88,718 Amortization (838) (2,749) (3,587) Balance as of March 31, 2022 $ 24,871 $ 60,260 $ 85,131

Investment in Joint Venture

Investment in Joint Venture	3 Months Ended
	Mar. 31, 2022
Equity Method Investments and Joint Ventures [Abstract]
Investment in Joint Venture	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, 2021 $ 34,045 Share of earnings 2,092 Dividends paid by joint venture (4,026) Foreign currency translation gain 66 Balance as of March 31, 2022 $ 32,177

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income TaxesOur effective tax rate was (39.6)% and 10.7% for the three months ended March 31, 2022 and 2021, respectively. The effective tax rate for the three months ended March 31, 2022, differs from the U.S. federal statutory tax rate of 21% primarily due to the accrual of tax on non-permanently reinvested unremitted earnings of foreign subsidiaries and by limitation on the amount of tax benefit recorded for loss carryforwards in certain jurisdictions where we believe it is more likely than not that a portion of the future tax benefit may not be realized. In addition, the effective tax rate was unfavorably impacted by U.S. tax on the earnings of foreign subsidiaries under the global intangible low-taxed income regime.

Debt

Debt	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Debt	Debt On March 22, 2021, we entered into a new $150.0 million term loan facility (the “Term Loan Facility”) and a new $50.0 million asset backed credit facility (the “ABL Facility”). The following table presents debt balances as of March 31, 2022 and December 31, 2021. March 31, 2022 December 31, 2021 Term Loan Facility $ 148,500 $ 148,875 International lines of credit and other loans 10,302 10,930 Total principal 158,802 159,805 Less-current maturities of long-term debt 3,138 3,074 Principal, net of current portion 155,664 156,731 Less-unamortized debt issuance costs and discount (1) 5,264 5,679 Long-term debt, net of current portion $ 150,400 $ 151,052 _______________________________ (1) In addition to this amount, costs of $0.7 million and $0.7 million related to the ABL Facility were recorded in other non-current assets as of March 31, 2022 and December 31, 2021, respectively. Term Loan Facility Outstanding borrowings under the Term Loan Facility bear interest at either 1) one-month LIBOR (subject to a 1.000% floor) plus an applicable margin of 6.875% or 2) the greater of various benchmark rates plus an applicable margin of 5.875%. At March 31, 2022, the Term Loan Facility bore interest, based on one-month LIBOR, at 7.875%. We have an interest rate swap that changes the one-month LIBOR to a fixed rate of 1.291% on $60.0 million of the outstanding balance of the Term Loan Facility. The Term Loan Facility requires quarterly principal payments of $0.4 million with the remaining unpaid principal amount due on the final maturity date of September 22, 2026. The Term Loan Facility is collateralized by all of our assets. The Term Loan Facility has a first lien on all assets other than accounts receivable and inventory and has a second lien on accounts receivable and inventory. On March 3, 2022, we amended our Term Loan Facility, which increases the quarterly maximum consolidated net leverage ratio. We were in compliance with all requirements under the Term Loan Facility as of March 31, 2022. The Term Loan Facility was issued at a $3.8 million discount and we capitalized an additional $2.8 million in new debt issuance costs. These costs are recorded as a direct reduction to the carrying amount of the associated long-term debt and amortized over the term of the debt. ABL Facility The ABL Facility provides for a senior secured revolving credit facility in the amount of $50.0 million, of which $30.0 million is available in the form of letters of credit and $5.0 million is available for the issuance of short-term swingline loans. The availability of credit under the ABL Facility is limited by a borrowing base calculation derived from accounts receivable and inventory held in the United States. Outstanding borrowings under the ABL Facility bear interest on a variable rate structure plus an interest rate spread that is based on the average amount of aggregate revolving commitment available. The variable borrowing rate is either 1) LIBOR plus an applicable margin of 1.75% or 2.00%, depending on availability, or 2) the greater of the federal funds rate or prime, plus an applicable margin of 0.75% or 1.00%, depending on availability. We may elect whether to use one-month, three-month, or six-month LIBOR, subject to a 0.50% floor. Interest payments are due monthly on borrowings that utilize one-month LIBOR and quarterly on borrowings that utilize three-month or six-month LIBOR. At March 31, 2022, using one-month LIBOR plus a 1.75% spread, the weighted average interest rate on outstanding borrowings under the ABL Facility would have been 2.25% if there had been any balance outstanding. We pay a commitment fee of 0.375% for unused capacity under the ABL Facility and a 1.875% fee on the amount of letters of credit outstanding. The final maturity date of the ABL Facility is March 22, 2026. As of March 31, 2022, we had no outstanding borrowings under the ABL Facility, $11.1 million of outstanding letters of credit, and $37.8 million available for future borrowings under the ABL Facility. The ABL Facility has a first lien on accounts receivable and inventory. We were in compliance with all requirements under the ABL Facility as of March 31, 2022.

Leases

Leases	3 Months Ended
	Mar. 31, 2022
Leases [Abstract]
Leases	Leases The following table contains supplemental cash flow information related to leases. Three Months Ended 2022 2021 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows used in finance leases $ 80 $ 57 Operating cash flows used in operating leases 4,204 4,103 Financing cash flows used in finance leases 700 846 Right-of-use assets obtained in exchange for new finance lease liabilities 395 60 Right-of-use assets obtained in exchange for new operating lease liabilities (1) 1,305 — _______________________________ (1) Includes new leases, renewals, and modifications.
Leases	Leases The following table contains supplemental cash flow information related to leases. Three Months Ended 2022 2021 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows used in finance leases $ 80 $ 57 Operating cash flows used in operating leases 4,204 4,103 Financing cash flows used in finance leases 700 846 Right-of-use assets obtained in exchange for new finance lease liabilities 395 60 Right-of-use assets obtained in exchange for new operating lease liabilities (1) 1,305 — _______________________________ (1) Includes new leases, renewals, and modifications.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Brazil ICMS Tax Matter Prior to the acquisition of Autocam Corporation (“Autocam”) in 2014, Autocam’s Brazilian subsidiary (“Autocam Brazil”) received notification from the Brazilian tax authority regarding ICMS (state value added tax) 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 do not 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 March 31, 2022. 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 us, certain of our current and former officers and directors, and each of the underwriters involved in our public offering and sale of 14.4 million shares of our 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 our 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 our common stock in the Offering. The complaint seeks unspecified monetary damages and other relief. We believe the complaint and allegations to be without merit and intend to vigorously defend ourself against these actions. We are unable at this time to determine whether the outcome of the litigation would have a material impact on our financial position, results of operations, or cash flows. Other Legal Matters On April 25, 2022, we reached an agreement to settle breach of contract claims brought by a former customer regarding the sale of products by us in 2016. Under the agreement, we will pay $1.8 million to the customer in specified installments through July 2023. Since the $1.8 million settlement was related to claims made against us prior to March 31, 2022, it was recognized during the three months ended March 31, 2022 and is included in the Other operating expense (income), net line in the Condensed Consolidated Statements of Operations and Comprehensive Income (Loss).

Preferred Stock and Stockholder

Preferred Stock and Stockholders' Equity	3 Months Ended
	Mar. 31, 2022
Temporary Equity Disclosure [Abstract]
Preferred Stock and Stockholders' Equity	Preferred Stock and Stockholders' Equity Series D Perpetual Preferred Stock On March 22, 2021, we completed a private placement of 65 thousand shares of newly designated Series D Perpetual Preferred Stock, with a par value of $0.01 per share (the “Series D Preferred Stock”), at a price of $1,000 per share, together with detachable warrants (the “2021 Warrants”) to purchase up to 1.9 million shares of our common stock at an exercise price of $0.01 per share. The Series D Preferred Stock has an initial liquidation preference of $1,000 per share and is redeemable at our option in cash at a redemption price equal to the liquidation preference then in effect. Series D Preferred Stock shares earn cash dividends at a rate of 10.0% per year, payable quarterly in arrears, accruing whether or not earned or declared. If no cash dividend is paid, then the liquidation preference per share effective on the dividend date increases by 12.0% per year. On March 22, 2026, the cash dividend rate and in-kind dividend rate increase by 2.5% per year. Cash dividends are required beginning on September 30, 2027. The Series D Preferred Stock is classified as mezzanine equity, between liabilities and stockholders’ equity, because certain features of the Series D Preferred Stock could require redemption of the Series D Preferred Stock upon a change of control event that is considered not solely within our control. For initial recognition, the Series D Preferred Stock was recognized at a discounted value, net of issuance costs and allocation to warrants and a bifurcated embedded derivative. The aggregate discount is amortized as a deemed dividend through March 22, 2026, which is the date the dividend rate begins to increase by 2.5% per year. 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, certain features of the Series D Preferred Stock were bifurcated and accounted for as derivatives separately. Note 15 discusses the accounting for these features. As of March 31, 2022, the carrying value of the Series D Preferred Stock shares was $56.3 million, which included $9.7 million of accumulated unpaid and deemed dividends. The following table presents the change in the Series D Preferred Stock carrying value during the three months ended March 31, 2022. Three Months Ended Beginning balance $ 53,807 Accrual of in-kind dividends 2,142 Amortization 396 Ending balance $ 56,345

Revenue from Contracts with Cus

Revenue from Contracts with Customers	3 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Revenue from Contracts 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. The following tables summarize revenue by customer geographical region. Three Months Ended March 31, 2022 Mobile Power Intersegment Total United States and Puerto Rico $ 37,810 $ 40,486 $ (14) $ 78,282 China 12,552 1,244 — 13,796 Brazil 10,720 345 — 11,065 Mexico 5,064 4,741 — 9,805 Germany 1,283 62 — 1,345 Poland 1,340 4 — 1,344 Other 7,301 5,129 — 12,430 Total net sales $ 76,070 $ 52,011 $ (14) $ 128,067 Three Months Ended March 31, 2021 Mobile Power Intersegment Total United States and Puerto Rico $ 37,438 $ 39,806 $ (47) $ 77,197 China 14,414 1,506 — 15,920 Brazil 9,668 192 — 9,860 Mexico 5,015 3,397 — 8,412 Germany 1,767 164 — 1,931 Poland 1,180 4 — 1,184 Other 8,294 4,006 — 12,300 Total net sales $ 77,776 $ 49,075 $ (47) $ 126,804 The following tables summarize revenue by customer industry. Our products in the automotive industry include high-precision components and assemblies for electric power steering systems, electric braking, electric motors, fuel systems, emissions control, transmissions, moldings, stampings, sensors, and electrical contacts. Our products in the general industrial industry include high-precision metal and plastic components for a variety of industrial applications including diesel industrial motors, heating and cooling systems, fluid power systems, power tools, and more. While many of the industries we serve include electrical components, our products in the residential/commercial electrical industry category in the following tables include components used in smart meters, charging stations, circuit breakers, transformers, electrical contact assemblies, precision stampings, welded contact assemblies, and specification plating and surface finishing. Three Months Ended March 31, 2022 Mobile Power Intersegment Total Automotive $ 50,596 $ 10,078 $ — $ 60,674 General Industrial 21,805 16,335 — 38,140 Residential/Commercial Electrical — 17,199 — 17,199 Other 3,669 8,399 (14) 12,054 Total net sales $ 76,070 $ 52,011 $ (14) $ 128,067 Three Months Ended March 31, 2021 Mobile Power Intersegment Total Automotive $ 50,144 $ 10,425 $ — $ 60,569 General Industrial 24,310 15,374 — 39,684 Residential/Commercial Electrical — 15,354 — 15,354 Other 3,322 7,922 (47) 11,197 Total net sales $ 77,776 $ 49,075 $ (47) $ 126,804 Deferred Revenue Deferred revenue relates to payments received in advance of performance under the contract and recognized as revenue as (or when) we perform under the contract. The balance of deferred revenue was $0.4 million and $0.5 million as of March 31, 2022 and December 31, 2021, respectively. Revenue recognized for performance obligations satisfied or partially satisfied during the three months ended March 31, 2022 included $0.3 million that was included in deferred revenue as of December 31, 2021. 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 March 31, 2022, 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.

Shared-Based Compensation

Shared-Based Compensation	3 Months Ended
	Mar. 31, 2022
Share-based Payment Arrangement [Abstract]
Shared-Based Compensation	Share-Based Compensation The following table lists the components of share-based compensation expense by type of award, which is recognized in the “Selling, general, and administrative expense” line in the Condensed Consolidated Statements of Operations and Comprehensive Income (Loss). Three Months Ended 2022 2021 Stock options $ 56 $ 89 Restricted stock 604 548 Performance share units 289 249 Share-based compensation expense $ 949 $ 886 Stock Options The following table presents stock option activity for the three months ended March 31, 2022. Number of Options Weighted- Weighted- Aggregate Outstanding at January 1, 2022 621 $ 12.24 Expired (71) 9.83 Outstanding at March 31, 2022 550 $ 12.55 4.0 years $ — (1) Exercisable at March 31, 2022 523 $ 12.71 3.8 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 March 31, 2022, was greater than the exercise price of any individual option grant. Restricted Stock During the three months ended March 31, 2022, we granted 897,000 shares of restricted stock to non-executive directors, officers and certain other key employees. The shares of restricted stock granted during the three months ended March 31, 2022, vest pro-rata generally over three years for employees and over one year for non-executive directors. 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 three months ended March 31, 2022, was $3.31 per share. Total grant date fair value of restricted stock that vested in the three months ended March 31, 2022, was $1.8 million. The following table presents the status of unvested restricted stock awards as of March 31, 2022 and changes during the three months then ended. Nonvested Weighted Unvested at January 1, 2022 469 $ 7.28 Granted 897 3.31 Vested (261) 7.01 Forfeited (4) 7.49 Unvested at March 31, 2022 1,101 $ 4.11 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. Some PSUs are based on total shareholder return (“TSR Awards”), and other PSUs are based on return on invested capital (“ROIC Awards”). TSR Awards granted in 2022 were made pursuant to the NN, Inc. 2019 Omnibus Incentive Plan and a Performance Share Unit Agreement (the “2019 Omnibus Agreement”). No ROIC Awards were granted during the three months ended March 31, 2022. 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 a specified index during specified performance periods as defined in the 2019 Omnibus Agreement. The ROIC Awards 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 3 years 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 dividends declared and the number of shares of common stock that are ultimately earned at the end of the performance periods. The following table presents the goals with respect to TSR Awards granted in 2022. TSR Awards: Threshold Target Performance Maximum Performance 2022 grants 25th Percentile 55th Percentile 75th Percentile 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 following table presents the status of unvested PSUs as of March 31, 2022 and changes during the three months then ended. Nonvested TSR Awards Nonvested ROIC Awards Shares Weighted Shares Weighted Nonvested at January 1, 2022 194 $ 9.59 228 $ 8.14 Granted 382 2.53 — — Nonvested at March 31, 2022 576 $ 4.90 228 $ 8.14

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	3 Months Ended
	Mar. 31, 2022
Equity [Abstract]
Accumulated Other Comprehensive Income	Accumulated Other Comprehensive Income The following tables present the components of accumulated other comprehensive income (loss) (“AOCI”). Foreign Currency Translation Interest rate swap Income taxes (1) Total Balance at December 31, 2021 $ (32,016) $ 151 $ (37) $ (31,902) Other comprehensive income (loss) before reclassifications 2,600 1,503 (316) 3,787 Amounts reclassified from AOCI to interest expense (2) — 44 (10) 34 Net other comprehensive income (loss) 2,600 1,547 (326) 3,821 Balance at March 31, 2022 $ (29,416) $ 1,698 $ (363) $ (28,081) Balance at December 31, 2020 $ (30,881) $ (3,712) $ 861 $ (33,732) Other comprehensive income (loss) before reclassifications (3,347) — — (3,347) Amounts reclassified from AOCI to loss on interest rate swap — 3,712 (861) 2,851 Net other comprehensive income (loss) (3,347) 3,712 (861) (496) Balance at March 31, 2021 $ (34,228) $ — $ — $ (34,228) ______________________ (1) Income tax effect of changes in interest rate swap. (2) Represents interest rate swap settlements of effective hedge.

Net Income (Loss) Per Common Sh

Net Income (Loss) Per Common Share	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Net Income (Loss) Per Common Share	Net Income (Loss) Per Common Share In accordance with ASC 260, Earnings Per Share, a company that has participating securities 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 convertible preferred stock. The following table summarizes the computation of basic and diluted net income (loss) per common share. Three Months Ended 2022 2021 Numerator: Net loss $ (3,302) $ (4,913) Less: Preferred stock cumulative dividends and deemed dividends (2,538) (14,529) Numerator for basic and diluted undistributed net loss per common share (1) $ (5,840) $ (19,442) Denominator: Weighted average common shares outstanding 43,308 42,836 Adjustment for unvested restricted common stock (608) (375) Adjustment for 2021 Warrants outstanding (2) 1,894 211 Shares used to calculate loss per share, basic and diluted 44,594 42,672 Basic and diluted loss per common share $ (0.13) $ (0.46) Cash dividends declared per common share $ — $ — _______________________________ (1) Preferred Stock does not participate in losses. (2) Weighted average 2021 Warrants outstanding are included in shares outstanding for calculation of basic earnings per share because they are exercisable at an exercise price of $0.01 per share, subject to certain adjustments (see Note 15). The following table presents securities that could be potentially dilutive in the future that were excluded from the calculation of diluted net loss per common share because they had an anti-dilutive effect. Three Months Ended 2022 2021 Options 600 847 2019 Warrants 1,500 1,500 2,100 2,347

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	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 the 2021 Annual Report. 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 March 31, 2022, the carrying values of these financial instruments approximated fair value. Derivative Financial Instruments Certain features were bifurcated and accounted for separately from the Series B Preferred Stock, which was redeemed in March 2021. The following feature was recorded as a derivative. • Warrants. In conjunction with our placement of the Series B Preferred Stock in December 2019, we issued detachable warrants to purchase up to 1.5 million shares of our common stock (the “2019 Warrants”), which are exercisable, in full or in part, at any time prior to December 11, 2026, at an exercise price of $11.49 per share. Certain features were bifurcated and accounted for separately from the Series D Preferred Stock that was issued on March 22, 2021. The following features were recorded as derivatives. • Change-in-control put feature. The Series D Preferred Stock includes a put feature that allows the holder to redeem the Series D Preferred Stock upon a change in control at the greater of 1) the liquidation preference plus accrued dividends or 2) 140% of the liquidation preference. The put feature is considered a redemption right at a premium and is not clearly and closely related to the debt host. • Warrants. In conjunction with our placement of the Series D Preferred Stock, we issued detachable warrants to purchase up to 1.9 million shares of our common stock. The 2021 Warrants are exercisable, in full or in part, at any time prior to March 22, 2027, at an exercise price of $0.01 per share, subject to anti-dilution adjustments in the event of certain future equity issuances, stock splits, stock dividends, combinations or similar events. The following tables show the liabilities measured at fair value for the Preferred Stock derivatives as of March 31, 2022 and December 31, 2021. Fair Value Measurements as of March 31, 2022 Description Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs Derivative liability - other non-current liabilities 5,453 — 228 Fair Value Measurements as of December 31, 2021 Description Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs Derivative liability - other non-current liabilities 7,771 — 453 The following table presents the change in the Preferred Stock derivatives during the three months ended March 31, 2022. Three Months Ended March 31, 2022 Beginning balance $ 8,224 Change in fair value (1) (2,543) Ending balance $ 5,681 _______________________________ (1) Changes in the fair value are recognized in the “Other income, net” line in the Condensed Consolidated Statements of Operations and Comprehensive Income (Loss). The fair value of the change-in-control put feature utilizes unobservable inputs based on the Company’s assessment of the probability of a change-in-control event occurring in a future period. The probability of a change-in-control event ranged from 3% to 10% as of March 31, 2022. The fair value of the 2019 Warrants is determined using a valuation model that utilizes unobservable inputs to determine the probability that the 2019 Warrants will remain outstanding for future periods. The probabilities resulted in a weighted average term of 3.1 years as of March 31, 2022, and 3.6 years as of December 31, 2021. The fair value of the 2021 Warrants is determined using the observable market price of a share of our common stock, less the $0.01 per share exercise price. Interest Rate Swaps We manage our exposure to fluctuations in interest rates using a mix of fixed and variable rate debt. We utilize fixed-rate interest rate swap agreements to change the variable interest rate to a fixed rate on a portion of our variable rate debt. On July 22, 2021, we entered into a fixed-rate interest rate swap agreement to change the LIBOR-based component of the interest rate on a portion of our variable rate debt to a fixed rate of 1.291% (the “2021 Swap”). The 2021 Swap has a notional amount of $60.0 million and a maturity date of July 31, 2024. The objective of the 2021 Swap is to eliminate the variability of cash flows in interest payments on the first $60.0 million of variable rate debt attributable to changes in benchmark one-month LIBOR interest rates. The hedged risk is 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. The changes in cash flows of the interest rate swap are expected to exactly offset changes in cash flows of the variable rate debt. We designated the 2021 Swap as a cash flow hedge at inception. Cash settlements of the 2021 Swap are recognized in interest expense. 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 “2019 Swap”). On March 22, 2021, we terminated the 2019 Swap with a $13.7 million cash payment in connection with the extinguishment of our previously outstanding long-term variable-rate debt. The 2019 Swap was designated as a cash flow hedge at inception. However, in the fourth quarter of 2020, the 2019 Swap no longer qualified as an effective hedge, and subsequent changes in fair value of the 2019 Swap were recognized in earnings. Amounts recognized in earnings related to the 2019 Swap are recorded in the “Loss on interest rate swap” line on the Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) except that cash settlements prior to termination are recognized in “Derivative payments on interest rate swap.” Cash settlements during 2021 are presented in investing activities on the Condensed Consolidated Statements of Cash Flows. The following table presents the effect of the interest rate swaps on the Condensed Consolidated Statements of Operations and Comprehensive Income (Loss). Three Months Ended 2022 2021 Interest expense (1) $ 44 $ — Derivative payments on interest rate swap (2) — 1,717 Loss on interest rate swap (2) — 2,033 _______________________________ (1) Represents settlements on the interest rate swaps while the hedges are effective. (2) Represents settlements and changes in fair value on the 2019 Swap. The following tables present the assets and liabilities measured at fair value on a recurring basis for the interest rate swaps as of March 31, 2022 and December 31, 2021. Fair Value Measurements as of March 31, 2022 Description Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs Derivative asset - other current assets $ — $ 364 $ — Derivative asset - other non-current assets — 1,337 — Total $ — $ 1,701 $ — Fair Value Measurements as of December 31, 2021 Description Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs Derivative asset - other non-current assets $ — $ 284 $ — Derivative liability - other current liabilities — (129) — Total $ — $ 155 $ — The inputs for determining fair value of the interest rate swaps 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

Interim Financial Statements (P

Interim Financial Statements (Policies)	3 Months Ended
	Mar. 31, 2022
Quarterly Financial Information Disclosure [Abstract]
Basis of Presentation	Basis of Presentation The accompanying condensed consolidated financial statements have not been audited. The Condensed Consolidated Balance Sheet as of December 31, 2021, was derived from the audited consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2021 (the “2021 Annual Report”), which we filed with the U.S. Securities and Exchange Commission (the “SEC”) on March 11, 2022. In management’s opinion, the accompanying unaudited condensed consolidated financial statements reflect all adjustments necessary to fairly state our results of operations for the three months ended March 31, 2022 and 2021; financial position as of March 31, 2022 and December 31, 2021; and cash flows for the three months ended March 31, 2022 and 2021, on a basis consistent with our audited consolidated financial statements. These adjustments are of a normal recurring nature and are, in the opinion of management, necessary to state fairly the Company’s financial position and operating results for the interim periods. Certain prior period amounts have been reclassified to conform to the current year’s presentation. Certain information and footnote disclosures normally included in the consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) have been condensed or omitted from the unaudited condensed consolidated financial statements presented in this Quarterly Report. These unaudited condensed consolidated financial statements should be read in conjunction with our audited consolidated financial statements and accompanying notes included in the 2021 Annual Report. The results for the three months ended March 31, 2022, are not necessarily indicative of results for the year ending December 31, 2022, or any other future periods. Except for per share data or as otherwise indicated, all U.S. dollar amounts and share counts presented in the tables in these Notes to Condensed Consolidated Financial Statements are in thousands.
Accounting Standards Recently Adopted and Not Yet Adopted	Accounting Standards Recently Adopted 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. The adoption of ASU 2020-06 effective January 1, 2022 did not have a material impact on our consolidated financial statements and related disclosures. In May 2021, the FASB issued ASU 2021-04, Issuer’s Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options (“ASU 2021-04”), which clarifies the accounting for modifications or exchanges of freestanding equity-classified written call options that remain equity classified after modification or exchange. Specifically, ASU 2021-04 requires the issuer to treat a modification of an equity-classified warrant as an exchange of the original warrant. The difference between the fair value of the modified warrant and the fair value of the warrant immediately before modification is then recognized as an issuance cost or discount of the related transaction. Since we do not have any equity-classified written call options that would be subject to this guidance, the adoption of ASU 2021-04 did not have any impact on our consolidated financial statements and related disclosures during the three months ended March 31, 2022. Accounting Standards Not Yet Adopted In November 2021, the FASB issued ASU 2021-10, Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance (“ASU 2021-10”), which requires business entities to provide certain annual disclosures when they have received government assistance and use a grant or contribution accounting model by analogy to other accounting guidance. Such disclosures include the nature of the transactions, significant terms and conditions, accounting policies, and affected financial statement line items. ASU 2021-10 may be applied either prospectively or retrospectively. We are in the process of assessing the impact ASU 2021-10 may have on our annual disclosures for the year ending December 31, 2022.

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Segment Information	The following tables present results of operations by reportable segment. Mobile Power Corporate Total Three Months Ended March 31, 2022 Net sales $ 76,070 $ 52,011 $ (14) (a) $ 128,067 Income (loss) from operations 1,969 364 (5,753) (3,420) Interest expense (3,439) Other 2,996 Loss from operations before income taxes and share of net income from joint venture $ (3,863) Three Months Ended March 31, 2021 Net sales $ 77,776 $ 49,075 $ (47) (a) $ 126,804 Income (loss) from operations 6,090 2,432 (7,544) 978 Interest expense (2,024) Other (6,018) Loss from operations before income taxes and share of net income from joint venture $ (7,064) _______________________________ (a) Includes elimination of intersegment transactions occurring during the ordinary course of business.

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2022
Inventory Disclosure [Abstract]
Summary of Inventories	Inventories are comprised of the following amounts: March 31, 2022 December 31, 2021 Raw materials $ 31,108 $ 27,221 Work in process 28,857 24,960 Finished goods 21,274 22,846 Total inventories $ 81,239 $ 75,027

Intangible Assets, Net (Tables)

Intangible Assets, Net (Tables)	3 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Carrying Amount of Intangible Assets Net	The following table shows changes in the carrying amount of intangible assets, net, by reportable segment. Mobile Power Total Balance as of December 31, 2021 $ 25,709 $ 63,009 $ 88,718 Amortization (838) (2,749) (3,587) Balance as of March 31, 2022 $ 24,871 $ 60,260 $ 85,131

Investment in Joint Venture (Ta

Investment in Joint Venture (Tables)	3 Months Ended
	Mar. 31, 2022
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, 2021 $ 34,045 Share of earnings 2,092 Dividends paid by joint venture (4,026) Foreign currency translation gain 66 Balance as of March 31, 2022 $ 32,177

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Summary of Debt	The following table presents debt balances as of March 31, 2022 and December 31, 2021. March 31, 2022 December 31, 2021 Term Loan Facility $ 148,500 $ 148,875 International lines of credit and other loans 10,302 10,930 Total principal 158,802 159,805 Less-current maturities of long-term debt 3,138 3,074 Principal, net of current portion 155,664 156,731 Less-unamortized debt issuance costs and discount (1) 5,264 5,679 Long-term debt, net of current portion $ 150,400 $ 151,052 _______________________________

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2022
Leases [Abstract]
Lease, Cost	The following table contains supplemental cash flow information related to leases. Three Months Ended 2022 2021 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows used in finance leases $ 80 $ 57 Operating cash flows used in operating leases 4,204 4,103 Financing cash flows used in finance leases 700 846 Right-of-use assets obtained in exchange for new finance lease liabilities 395 60 Right-of-use assets obtained in exchange for new operating lease liabilities (1) 1,305 — _______________________________ (1) Includes new leases, renewals, and modifications.

Preferred Stock and Stockhold_2

Preferred Stock and Stockholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2022
Temporary Equity Disclosure [Abstract]
Temporary Equity	The following table presents the change in the Series D Preferred Stock carrying value during the three months ended March 31, 2022. Three Months Ended Beginning balance $ 53,807 Accrual of in-kind dividends 2,142 Amortization 396 Ending balance $ 56,345

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	3 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Summary of Revenue from Contracts with Customers	Three Months Ended March 31, 2022 Mobile Power Intersegment Total United States and Puerto Rico $ 37,810 $ 40,486 $ (14) $ 78,282 China 12,552 1,244 — 13,796 Brazil 10,720 345 — 11,065 Mexico 5,064 4,741 — 9,805 Germany 1,283 62 — 1,345 Poland 1,340 4 — 1,344 Other 7,301 5,129 — 12,430 Total net sales $ 76,070 $ 52,011 $ (14) $ 128,067 Three Months Ended March 31, 2021 Mobile Power Intersegment Total United States and Puerto Rico $ 37,438 $ 39,806 $ (47) $ 77,197 China 14,414 1,506 — 15,920 Brazil 9,668 192 — 9,860 Mexico 5,015 3,397 — 8,412 Germany 1,767 164 — 1,931 Poland 1,180 4 — 1,184 Other 8,294 4,006 — 12,300 Total net sales $ 77,776 $ 49,075 $ (47) $ 126,804 The following tables summarize revenue by customer industry. Our products in the automotive industry include high-precision components and assemblies for electric power steering systems, electric braking, electric motors, fuel systems, emissions control, transmissions, moldings, stampings, sensors, and electrical contacts. Our products in the general industrial industry include high-precision metal and plastic components for a variety of industrial applications including diesel industrial motors, heating and cooling systems, fluid power systems, power tools, and more. While many of the industries we serve include electrical components, our products in the residential/commercial electrical industry category in the following tables include components used in smart meters, charging stations, circuit breakers, transformers, electrical contact assemblies, precision stampings, welded contact assemblies, and specification plating and surface finishing. Three Months Ended March 31, 2022 Mobile Power Intersegment Total Automotive $ 50,596 $ 10,078 $ — $ 60,674 General Industrial 21,805 16,335 — 38,140 Residential/Commercial Electrical — 17,199 — 17,199 Other 3,669 8,399 (14) 12,054 Total net sales $ 76,070 $ 52,011 $ (14) $ 128,067 Three Months Ended March 31, 2021 Mobile Power Intersegment Total Automotive $ 50,144 $ 10,425 $ — $ 60,569 General Industrial 24,310 15,374 — 39,684 Residential/Commercial Electrical — 15,354 — 15,354 Other 3,322 7,922 (47) 11,197 Total net sales $ 77,776 $ 49,075 $ (47) $ 126,804 Deferred Revenue

Shared-Based Compensation (Tabl

Shared-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2022
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, which is recognized in the “Selling, general, and administrative expense” line in the Condensed Consolidated Statements of Operations and Comprehensive Income (Loss). Three Months Ended 2022 2021 Stock options $ 56 $ 89 Restricted stock 604 548 Performance share units 289 249 Share-based compensation expense $ 949 $ 886
Reconciliation of Option Activity	The following table presents stock option activity for the three months ended March 31, 2022. Number of Options Weighted- Weighted- Aggregate Outstanding at January 1, 2022 621 $ 12.24 Expired (71) 9.83 Outstanding at March 31, 2022 550 $ 12.55 4.0 years $ — (1) Exercisable at March 31, 2022 523 $ 12.71 3.8 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 March 31, 2022, was greater than the exercise price of any individual option grant.
Reconciliation of Restricted Stock Option Activity	The following table presents the status of unvested restricted stock awards as of March 31, 2022 and changes during the three months then ended. Nonvested Weighted Unvested at January 1, 2022 469 $ 7.28 Granted 897 3.31 Vested (261) 7.01 Forfeited (4) 7.49 Unvested at March 31, 2022 1,101 $ 4.11
Schedule of Performance Based Awards Goals with Respect to TSR and ROIC	The following table presents the goals with respect to TSR Awards granted in 2022. TSR Awards: Threshold Target Performance Maximum Performance 2022 grants 25th Percentile 55th Percentile 75th Percentile
Summary of Status of Unvested PSU Awards	The following table presents the status of unvested PSUs as of March 31, 2022 and changes during the three months then ended. Nonvested TSR Awards Nonvested ROIC Awards Shares Weighted Shares Weighted Nonvested at January 1, 2022 194 $ 9.59 228 $ 8.14 Granted 382 2.53 — — Nonvested at March 31, 2022 576 $ 4.90 228 $ 8.14

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Tables)	3 Months Ended
	Mar. 31, 2022
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income	The following tables present the components of accumulated other comprehensive income (loss) (“AOCI”). Foreign Currency Translation Interest rate swap Income taxes (1) Total Balance at December 31, 2021 $ (32,016) $ 151 $ (37) $ (31,902) Other comprehensive income (loss) before reclassifications 2,600 1,503 (316) 3,787 Amounts reclassified from AOCI to interest expense (2) — 44 (10) 34 Net other comprehensive income (loss) 2,600 1,547 (326) 3,821 Balance at March 31, 2022 $ (29,416) $ 1,698 $ (363) $ (28,081) Balance at December 31, 2020 $ (30,881) $ (3,712) $ 861 $ (33,732) Other comprehensive income (loss) before reclassifications (3,347) — — (3,347) Amounts reclassified from AOCI to loss on interest rate swap — 3,712 (861) 2,851 Net other comprehensive income (loss) (3,347) 3,712 (861) (496) Balance at March 31, 2021 $ (34,228) $ — $ — $ (34,228) ______________________ (1) Income tax effect of changes in interest rate swap. (2) Represents interest rate swap settlements of effective hedge.

Net Income (Loss) Per Common _2

Net Income (Loss) Per Common Share (Tables)	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic, by Common Class, Including Two Class Method	The following table summarizes the computation of basic and diluted net income (loss) per common share. Three Months Ended 2022 2021 Numerator: Net loss $ (3,302) $ (4,913) Less: Preferred stock cumulative dividends and deemed dividends (2,538) (14,529) Numerator for basic and diluted undistributed net loss per common share (1) $ (5,840) $ (19,442) Denominator: Weighted average common shares outstanding 43,308 42,836 Adjustment for unvested restricted common stock (608) (375) Adjustment for 2021 Warrants outstanding (2) 1,894 211 Shares used to calculate loss per share, basic and diluted 44,594 42,672 Basic and diluted loss per common share $ (0.13) $ (0.46) Cash dividends declared per common share $ — $ — _______________________________ (1) Preferred Stock does not participate in losses.
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following table presents securities that could be potentially dilutive in the future that were excluded from the calculation of diluted net loss per common share because they had an anti-dilutive effect. Three Months Ended 2022 2021 Options 600 847 2019 Warrants 1,500 1,500 2,100 2,347

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Schedule of Derivative Instruments	The following tables show the liabilities measured at fair value for the Preferred Stock derivatives as of March 31, 2022 and December 31, 2021. Fair Value Measurements as of March 31, 2022 Description Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs Derivative liability - other non-current liabilities 5,453 — 228 Fair Value Measurements as of December 31, 2021 Description Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs Derivative liability - other non-current liabilities 7,771 — 453 The following table presents the change in the Preferred Stock derivatives during the three months ended March 31, 2022. Three Months Ended March 31, 2022 Beginning balance $ 8,224 Change in fair value (1) (2,543) Ending balance $ 5,681 _______________________________
Schedule of Interest Rate Derivatives	The following table presents the effect of the interest rate swaps on the Condensed Consolidated Statements of Operations and Comprehensive Income (Loss). Three Months Ended 2022 2021 Interest expense (1) $ 44 $ — Derivative payments on interest rate swap (2) — 1,717 Loss on interest rate swap (2) — 2,033 _______________________________ (1) Represents settlements on the interest rate swaps while the hedges are effective.
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The following tables present the assets and liabilities measured at fair value on a recurring basis for the interest rate swaps as of March 31, 2022 and December 31, 2021. Fair Value Measurements as of March 31, 2022 Description Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs Derivative asset - other current assets $ — $ 364 $ — Derivative asset - other non-current assets — 1,337 — Total $ — $ 1,701 $ — Fair Value Measurements as of December 31, 2021 Description Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs Derivative asset - other non-current assets $ — $ 284 $ — Derivative liability - other current liabilities — (129) — Total $ — $ 155 $ —

Segment Information - Continuin

Segment Information - Continuing Operations by Reportable Segment (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)segment	Mar. 31, 2021USD ($)
Segment Reporting [Abstract]
Number of reportable segments | segment	2
Number of operating segments | segment	2
Segment Reporting Information [Line Items]
Net sales	$ 128,067	$ 126,804
Income (loss) from operations	(3,420)	978
Interest expense	(3,439)	(2,024)
Other	2,996	(6,018)
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest	(3,863)	(7,064)
United States and Puerto Rico
Segment Reporting Information [Line Items]
Net sales	78,282	77,197
Operating Segments | Mobile Solutions
Segment Reporting Information [Line Items]
Net sales	76,070	77,776
Income (loss) from operations	1,969	6,090
Operating Segments | Mobile Solutions | United States and Puerto Rico
Segment Reporting Information [Line Items]
Net sales	37,810	37,438
Operating Segments | Power Solutions
Segment Reporting Information [Line Items]
Net sales	52,011	49,075
Income (loss) from operations	364	2,432
Operating Segments | Power Solutions | United States and Puerto Rico
Segment Reporting Information [Line Items]
Net sales	40,486	39,806
Corporate and Eliminations
Segment Reporting Information [Line Items]
Income (loss) from operations	(5,753)	(7,544)
Intersegment Sales Eliminations
Segment Reporting Information [Line Items]
Net sales	(14)	(47)
Intersegment Sales Eliminations | United States and Puerto Rico
Segment Reporting Information [Line Items]
Net sales	$ (14)	$ (47)

Inventories - Summary of Invent

Inventories - Summary of Inventories (Detail) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Raw materials	$ 31,108	$ 27,221
Work in process	28,857	24,960
Finished goods	21,274	22,846
Inventories	$ 81,239	$ 75,027

Intangible Assets, Net - Summar

Intangible Assets, Net - Summary of Carrying Amount of Intangible Assets by Segment (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)
Finite-lived Intangible Assets [Roll Forward]
Beginning Balance	$ 88,718
Amortization	(3,587)
Ending balance	85,131
Mobile Solutions
Finite-lived Intangible Assets [Roll Forward]
Beginning Balance	25,709
Amortization	(838)
Ending balance	24,871
Power Solutions
Finite-lived Intangible Assets [Roll Forward]
Beginning Balance	63,009
Amortization	(2,749)
Ending balance	$ 60,260

Investment in Joint Venture - A

Investment in Joint Venture - Additional Information (Detail)	Mar. 31, 2022
Wuxi Weifu Autocam Precision Machinery Company, Ltd.
Schedule of Equity Method Investments [Line Items]
Investment in joint venture	49.00%

Investment in Joint Venture - S

Investment in Joint Venture - Summarized Activity Related to Investment in Joint Venture (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Equity Method Investments [Roll Forward]
Beginning Balance	$ 34,045
Share of earnings	2,092	$ 1,395
Ending Balance	32,177
Joint Venture
Equity Method Investments [Roll Forward]
Beginning Balance	34,045
Share of earnings	2,092
Proceeds from Equity Method Investment, Distribution	(4,026)
Foreign currency translation gain	66
Ending Balance	$ 32,177

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Effective tax rate from continuing operations	(39.60%)	10.70%
Effective income tax rate reconciliation, at federal statutory income tax rate, percent	21.00%

Debt - Additional Information (

Debt - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021	Mar. 22, 2021
Debt Instrument [Line Items]
Debt issuance costs, line of credit arrangements, net	$ 700	$ 700
Interest Rate Swap | July 22 2021
Debt Instrument [Line Items]
Derivative, fixed interest rate	1.291%
Derivative, notional amount	$ 60,000
Interest Rate Swap | February 8, 2019
Debt Instrument [Line Items]
Derivative, fixed interest rate			2.4575%
Derivative, notional amount			$ 700,000
Term Loan Facility Member
Debt Instrument [Line Items]
Borrowings	$ 150,000
Interest rate during period	7.875%
Principal payment amount	$ 400
Issuance discount			3,800
Debt issuance costs			$ 2,800
Outstanding borrowings	$ 148,500	$ 148,875
Term Loan Facility Member | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Applicable margin	6.875%
Term Loan Facility Member | London Interbank Offered Rate (LIBOR) | Minimum
Debt Instrument [Line Items]
Applicable margin	1.00%
Term Loan Facility Member | Various Benchmark Rates Member
Debt Instrument [Line Items]
Applicable margin	5.875%
Asset Backed Credit Facility Member [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 50,000
Applicable margin	1.75%
Interest rate during period	2.25%
Debt instrument, LIBOR floor rate	0.50%
Unused capacity, commitment fee percentage	0.375%
Outstanding borrowings	$ 0
Available capacity	37,800
Letters of Credit Outstanding, Amount	$ 11,100
Asset Backed Credit Facility Member [Member] | London Interbank Offered Rate (LIBOR) | Minimum
Debt Instrument [Line Items]
Applicable margin	1.75%
Asset Backed Credit Facility Member [Member] | London Interbank Offered Rate (LIBOR) | Maximum
Debt Instrument [Line Items]
Applicable margin	2.00%
Asset Backed Credit Facility Member [Member] | Federal Funds Or Prime Rate Member | Minimum
Debt Instrument [Line Items]
Applicable margin	0.75%
Asset Backed Credit Facility Member [Member] | Federal Funds Or Prime Rate Member | Maximum
Debt Instrument [Line Items]
Applicable margin	1.00%
Letters of credit
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 30,000
Unused capacity, commitment fee percentage	1.875%
Swingline loans
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 5,000

Debt - Summary of Debt (Detail)

Debt - Summary of Debt (Detail) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Total principal	$ 158,802	$ 159,805
Less-current maturities of long-term debt	3,138	3,074
Principal, net of current portion	155,664	156,731
Less-unamortized debt issuance costs	5,264	5,679
Long-term debt, net of current portion	150,400	151,052
Debt issuance costs, line of credit arrangements, net	700	700
Term Loan Facility Member
Debt Instrument [Line Items]
Term loans	148,500	148,875
Foreign Line of Credit
Debt Instrument [Line Items]
International lines of credit and other loans	$ 10,302	$ 10,930

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used in finance leases	$ 80	$ 57
Operating cash flows used in operating leases	4,204	4,103
Financing cash flows used in finance leases	700	846
Right-of-use assets obtained in exchange for new finance lease liabilities	395	60
Right-of-use assets obtained in exchange for new operating lease liabilities (1)	$ 1,305	$ 0

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($) shares in Millions, $ in Millions	Nov. 01, 2019	Mar. 31, 2022
Loss Contingencies [Line Items]
Stock issued during period, shares, new issues (in shares)	14.4
Litigation Settlement, Amount Awarded to Other Party		$ 1.8
Maximum
Loss Contingencies [Line Items]
Loss contingency, estimate of possible loss		$ 5

Preferred Stock and Stockhold_3

Preferred Stock and Stockholders' Equity - Additional Information (Details) - Series D Preferred Stock - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Temporary Equity [Line Items]
Sale of stock, number of shares issued in transaction (in shares)		65
Temporary equity, par value (in dollars per share)	$ 0.01
Sale of stock, price per share (in dollars per share)	$ 1,000
Class of warrant or right, number of securities called by warrants or rights (in shares)	1,900
Class of warrant or right, exercise price of warrants or rights (in dollars per share)	$ 0.01
Temporary equity, liquidation preference per share (in dollars per share)	$ 1,000
Temporary equity, dividend rate, percentage	10.00%
Increase in dividend rate if no cash dividends paid	12.00%
Annual increase in dividend rate	2.50%
Carrying value	$ 56,345		$ 53,807
Accrual of in-kind dividends	2,142
Temporary Equity Dividends Unpaid Deemed	9,700
Temporary Equity, Aggregate Amount of Redemption Requirement	$ 56,300

Preferred Stock and Stockhold_4

Preferred Stock and Stockholders' Equity - Carrying Value Roll Forward (Details) - Series D Preferred Stock $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)
Increase (Decrease) in Temporary Equity [Roll Forward]
Temporary Equity, Carrying Amount, Attributable to Parent	$ 53,807
Accrual of in-kind dividends	2,142
Temporary Equity, Other Changes	(396)
Temporary Equity, Carrying Amount, Attributable to Parent	$ 56,345

Revenue from Contracts with C_3

Revenue from Contracts with Customers - Summary of Revenue from Contracts with Customers (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenue, Major Customer [Line Items]
Net sales	$ 128,067	$ 126,804
Automotive
Revenue, Major Customer [Line Items]
Net sales	60,674	60,569
General Industrial
Revenue, Major Customer [Line Items]
Net sales	38,140	39,684
Residential/Commercial Electrical
Revenue, Major Customer [Line Items]
Net sales	17,199	15,354
Other End Market Member
Revenue, Major Customer [Line Items]
Net sales	12,054	11,197
United States and Puerto Rico
Revenue, Major Customer [Line Items]
Net sales	78,282	77,197
China
Revenue, Major Customer [Line Items]
Net sales	13,796	15,920
Brazil
Revenue, Major Customer [Line Items]
Net sales	11,065	9,860
Mexico
Revenue, Major Customer [Line Items]
Net sales	9,805	8,412
Germany
Revenue, Major Customer [Line Items]
Net sales	1,345	1,931
Poland
Revenue, Major Customer [Line Items]
Net sales	1,344	1,184
Other
Revenue, Major Customer [Line Items]
Net sales	12,430	12,300
Operating Segments | Mobile Solutions
Revenue, Major Customer [Line Items]
Net sales	76,070	77,776
Operating Segments | Mobile Solutions | Automotive
Revenue, Major Customer [Line Items]
Net sales	50,596	50,144
Operating Segments | Mobile Solutions | General Industrial
Revenue, Major Customer [Line Items]
Net sales	21,805	24,310
Operating Segments | Mobile Solutions | Residential/Commercial Electrical
Revenue, Major Customer [Line Items]
Net sales	0	0
Operating Segments | Mobile Solutions | Other End Market Member
Revenue, Major Customer [Line Items]
Net sales	3,669	3,322
Operating Segments | Mobile Solutions | United States and Puerto Rico
Revenue, Major Customer [Line Items]
Net sales	37,810	37,438
Operating Segments | Mobile Solutions | China
Revenue, Major Customer [Line Items]
Net sales	12,552	14,414
Operating Segments | Mobile Solutions | Brazil
Revenue, Major Customer [Line Items]
Net sales	10,720	9,668
Operating Segments | Mobile Solutions | Mexico
Revenue, Major Customer [Line Items]
Net sales	5,064	5,015
Operating Segments | Mobile Solutions | Germany
Revenue, Major Customer [Line Items]
Net sales	1,283	1,767
Operating Segments | Mobile Solutions | Poland
Revenue, Major Customer [Line Items]
Net sales	1,340	1,180
Operating Segments | Mobile Solutions | Other
Revenue, Major Customer [Line Items]
Net sales	7,301	8,294
Operating Segments | Power Solutions
Revenue, Major Customer [Line Items]
Net sales	52,011	49,075
Operating Segments | Power Solutions | Automotive
Revenue, Major Customer [Line Items]
Net sales	10,078	10,425
Operating Segments | Power Solutions | General Industrial
Revenue, Major Customer [Line Items]
Net sales	16,335	15,374
Operating Segments | Power Solutions | Residential/Commercial Electrical
Revenue, Major Customer [Line Items]
Net sales	17,199	15,354
Operating Segments | Power Solutions | Other End Market Member
Revenue, Major Customer [Line Items]
Net sales	8,399	7,922
Operating Segments | Power Solutions | United States and Puerto Rico
Revenue, Major Customer [Line Items]
Net sales	40,486	39,806
Operating Segments | Power Solutions | China
Revenue, Major Customer [Line Items]
Net sales	1,244	1,506
Operating Segments | Power Solutions | Brazil
Revenue, Major Customer [Line Items]
Net sales	345	192
Operating Segments | Power Solutions | Mexico
Revenue, Major Customer [Line Items]
Net sales	4,741	3,397
Operating Segments | Power Solutions | Germany
Revenue, Major Customer [Line Items]
Net sales	62	164
Operating Segments | Power Solutions | Poland
Revenue, Major Customer [Line Items]
Net sales	4	4
Operating Segments | Power Solutions | Other
Revenue, Major Customer [Line Items]
Net sales	5,129	4,006
Intersegment Sales Eliminations
Revenue, Major Customer [Line Items]
Net sales	(14)	(47)
Intersegment Sales Eliminations | Other End Market Member
Revenue, Major Customer [Line Items]
Net sales	(14)	(47)
Intersegment Sales Eliminations | United States and Puerto Rico
Revenue, Major Customer [Line Items]
Net sales	$ (14)	$ (47)

Revenue from Contracts with C_4

Revenue from Contracts with Customers - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenue, Major Customer [Line Items]
Net sales	$ 128,067	$ 126,804

Revenue from Contracts with C_5

Revenue from Contracts with Customers - Summary of Contract Liabilities from Contracts with Customers (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Contract with Customer, Liability [Abstract]
Deferred revenue	$ 400	$ 500
Amounts included in deferred revenue for performance obligations satisfied or partially satisfied	$ 300

Shared-Based Compensation - Add

Shared-Based Compensation - Additional Information (Detail) shares in Thousands, $ in Millions	3 Months Ended
	Mar. 31, 2022USD ($)shares
Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock units issued (in shares)	897
Total grant-date fair value of restricted stock, vested | $	$ 1.8
Performance Shares TSR Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock units issued (in shares)	382
Award performance period	3 years
Performance Shares ROIC Award [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock units issued (in shares)	0
Employees | Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock awards granted vesting period	3 years
Non-executive Directors | Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock awards granted vesting period	1 year

Shared-Based Compensation - Com

Shared-Based Compensation - Components of Share-Based Compensation Expense by Type of Award (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 949	$ 886
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	56	89
Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	604	548
Performance share units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 289	$ 249

Shared-Based Compensation - Rec

Shared-Based Compensation - Reconciliation of Option Activity (Detail) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)$ / sharesshares
Number of Options (in thousands)
Beginning balance (in shares) | shares	621
Expired | shares	(71)
Ending balance (in shares) | shares	550
Options exercisable (in shares) | shares	523
Weighted- Average Exercise Price (per share)
Beginning balance (in dollars per share) | $ / shares	$ 12.24
Expired (in dollars per share) | $ / shares	9.83
Ending balance (in dollars per share) | $ / shares	12.55
Options exercisable (in dollars per share) | $ / shares	$ 12.71
Weighted- Average Remaining Contractual Term
Outstanding	4 years
Options exercisable	3 years 9 months 18 days
Aggregate Intrinsic Value
Outstanding | $	$ 0
Options exercisable | $	$ 0

Shared-Based Compensation - R_2

Shared-Based Compensation - Reconciliation of Restricted Stock Option Activity (Detail) shares in Thousands	3 Months Ended
	Mar. 31, 2022$ / sharesshares
Restricted stock
Nonvested Shares (in thousands)
Nonvested restricted shares, beginning balance (in shares) | shares	469
Nonvested restricted shares, granted (in shares) | shares	897
Nonvested restricted shares, vested (in shares) | shares	(261)
Nonvested restricted shares, forfeited (in shares) | shares	(4)
Nonvested restricted shares, ending balance (in shares) | shares	1,101
Weighted Average Grant-Date Fair Value (per share)
Beginning balance (in dollars per share) | $ / shares	$ 7.28
Granted (in dollars per share) | $ / shares	3.31
Vested (in dollars per share) | $ / shares	7.01
Forfeited (in dollars per share) | $ / shares	7.49
Ending balance (in dollars per share) | $ / shares	$ 4.11
Performance Shares TSR Awards [Member]
Nonvested Shares (in thousands)
Nonvested restricted shares, beginning balance (in shares) | shares	194
Nonvested restricted shares, granted (in shares) | shares	382
Nonvested restricted shares, ending balance (in shares) | shares	576
Weighted Average Grant-Date Fair Value (per share)
Beginning balance (in dollars per share) | $ / shares	$ 9.59
Granted (in dollars per share) | $ / shares	2.53
Ending balance (in dollars per share) | $ / shares	$ 4.90
Performance Shares ROIC Award [Member]
Nonvested Shares (in thousands)
Nonvested restricted shares, beginning balance (in shares) | shares	228
Nonvested restricted shares, granted (in shares) | shares	0
Nonvested restricted shares, ending balance (in shares) | shares	228
Weighted Average Grant-Date Fair Value (per share)
Beginning balance (in dollars per share) | $ / shares	$ 8.14
Granted (in dollars per share) | $ / shares	0
Ending balance (in dollars per share) | $ / shares	$ 8.14

Shared-Based Compensation - Sch

Shared-Based Compensation - Schedule of Performance Based Awards Goals with Respect to TSR and ROIC (Detail) - Performance Shares TSR Awards [Member]	3 Months Ended
	Mar. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Threshold performance, percentage	25.00%
Target performance, percentage	55.00%
Maximum performance, percentage	75.00%

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 224,185	$ 254,152
OCI before reclassifications, net of tax	3,787	(3,347)
Net other comprehensive income (loss), net of tax	3,821	(496)
Ending balance	223,028	234,755
Loss on Interest Rate Swap
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Amounts reclassified from AOCI, net of tax		2,851
Interest Expense
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Amounts reclassified from AOCI, net of tax	34
Accumulated other comprehensive income (loss)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(31,902)	(33,732)
Ending balance	(28,081)	(34,228)
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(32,016)	(30,881)
OCI before reclassifications and tax	2,600	(3,347)
Net other comprehensive income (loss), before tax	2,600	(3,347)
Ending balance	(29,416)	(34,228)
Accumulated Foreign Currency Adjustment Attributable to Parent [Member] | Loss on Interest Rate Swap
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Amounts reclassified from AOCI, before tax		0
Accumulated Foreign Currency Adjustment Attributable to Parent [Member] | Interest Expense
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Amounts reclassified from AOCI, before tax	0
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	151	(3,712)
OCI before reclassifications and tax	1,503	0
Net other comprehensive income (loss), before tax	1,547	3,712
Ending balance	1,698	0
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member] | Loss on Interest Rate Swap
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Amounts reclassified from AOCI, before tax		3,712
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member] | Interest Expense
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Amounts reclassified from AOCI, before tax	44
Income taxes
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(37)	861
OCI before reclassifications, tax	(316)	0
Net other comprehensive income (loss), tax	(326)	(861)
Ending balance	(363)	0
Income taxes | Loss on Interest Rate Swap
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Amounts reclassified from AOCI, tax		$ (861)
Income taxes | Interest Expense
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Amounts reclassified from AOCI, tax	$ (10)

Net Income (Loss) Per Common _3

Net Income (Loss) Per Common Share - Summary of Net Income (Loss) Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Earnings Per Share [Abstract]
Weighted Average Number of Shares Issued, Basic	43,308	42,836
Loss from continuing operations	$ (3,302)	$ (4,913)
Less: Preferred stock cumulative dividends and deemed dividends	(2,538)	(14,529)
Numerator for basic undistributed net loss per common share	(5,840)	(19,442)
Numerator for diluted undistributed net loss per common share	$ (5,840)	$ (19,442)
Weighted Average Number of Shares, Restricted Stock	(608)	(375)
Weighted average common shares outstanding, diluted (in shares)	44,594	42,672
Basic net loss per share (in dollars per share)	$ (0.13)	$ (0.46)
Diluted net loss per share (in dollars per share)	(0.13)	(0.46)
Basic and diluted loss per common share	(0.13)	(0.46)
Cash dividends declared per share (in dollars per share)	$ 0	$ 0
Incremental Common Shares Attributable to Dilutive Effect of Call Options and Warrants	1,894	211
Weighted Average Number of Shares Outstanding, Basic and Diluted	44,594	42,672

Net Income (Loss) Per Common _4

Net Income (Loss) Per Common Share - Antidilutive Securities Excluded from Computation (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	2,100	2,347
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	600	847
2019 Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	1,500	1,500

Net Income (Loss) Per Common _5

Net Income (Loss) Per Common Share - Additional Information (Detail) - $ / shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of earnings per share, minimum price range (in dollars per share)	$ 7.93	$ 7.93
Anti dilutive securities excluded from computation of earnings per share, maximum price range (in dollars per share)	$ 25.16	$ 25.16

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	Mar. 22, 2021	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrants term		3 years 1 month 6 days		3 years 7 months 6 days
Cash settlements for interest rate swaps	$ 13,700	$ 0	$ 15,420
Foreign Line of Credit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
International lines of credit and other loans		10,302		$ 10,930
Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value		$ 10,300		$ 10,900
Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Change-in-control put feature		3.00%
Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Change-in-control put feature		10.00%
Series D Preferred Stock
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Class of warrant or right, exercise price of warrants or rights (in dollars per share)		$ 0.01
Liquidation preference		140.00%
Class of warrant or right, number of securities called by warrants or rights (in shares)		1,900
Series B Convertible Preferred Stock
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Adjusted exercise price of warrants or rights (in dollars per share)		$ 11.49
Class of warrant or right, number of securities called by warrants or rights (in shares)		1,500

Fair Value Measurements - Liabi

Fair Value Measurements - Liabilities Measure at Fair Value Preferred Stock (Details) - Other Noncurrent Liabilities - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative liability, fair value, gross liability	$ 5,453	$ 7,771
Significant Other Observable Inputs (Level 2)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative liability, fair value, gross liability	0	0
Significant Unobservable Inputs (Level 3)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative liability, fair value, gross liability	$ 228	$ 453

Fair Value Measurements - Roll

Fair Value Measurements - Roll Forward of Preferred Stock Derivative (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 8,224
Change in fair value	(2,543)
Ending balance	$ 5,681

Fair Value Measurements - Effec

Fair Value Measurements - Effect of Interest Rate Swap (Details) - USD ($) $ in Thousands	Mar. 22, 2021	Mar. 31, 2022	Mar. 31, 2021
Derivative [Line Items]
Interest expense		$ 3,439	$ 2,024
Derivative payments on interest rate swap		0	1,717
Loss on interest rate swap (2)		0	2,033
Cash settlements for interest rate swaps	$ 13,700	0	15,420
Interest Rate Swap
Derivative [Line Items]
Interest expense		$ 44	$ 0

Fair Value Measurements - Inter

Fair Value Measurements - Interest Rate Swap (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative asset - other current assets	$ 0
Derivative asset - other non-current assets	0	$ 0
Derivative liability - other current liabilities		0
Total	0	0
Significant Other Observable Inputs (Level 2)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative asset - other current assets	364
Derivative asset - other non-current assets	1,337	284
Derivative liability - other current liabilities		(129)
Total	1,701	155
Significant Unobservable Inputs (Level 3)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative asset - other current assets	0
Derivative asset - other non-current assets	0	0
Derivative liability - other current liabilities		0
Total	$ 0	$ 0