Restructuring Activities

9 Months Ended

Sep. 30, 2021

Restructuring and Related Activities [Abstract]

Restructuring and Related Activities Disclosure

9. Restructuring Activities

The Company's restructuring charges by segment were as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Engineered Products	$	870	$	2,342	$	9,200	$	6,860
Fueling Solutions	1,620		1,572		3,084		3,958
Imaging & Identification	168		99		1,032		(167)
Pumps & Process Solutions	639		1,719		1,526		10,271
Refrigeration & Food Equipment	1,293		534		4,637		3,307
Corporate	200		474		1,182		2,136
Total	$	4,790	$	6,740	$	20,661	$	26,365

These amounts are classified in the Condensed Consolidated Statements of Earnings as follows:
Cost of goods and services	$	2,194	$	2,710	$	10,940	$	11,809
Selling, general and administrative expenses	2,596		4,030		9,721		14,556
Total	$	4,790	$	6,740	$	20,661	$	26,365

The restructuring expenses of $4,790 and $20,661 incurred during the three and nine months ended September 30, 2021 were primarily the result of restructuring programs initiated in 2020 and 2021 in response to demand conditions, asset charges related to a product line exit and broad-based operational efficiency initiatives focusing on footprint consolidation and IT centralization. Additional programs, beyond the scope of the announced programs, may be implemented during 2021 with related restructuring charges.

The $4,790 of restructuring charges incurred during the third quarter of 2021 primarily included the following items:

•The Engineered Products segment recorded $870 of restructuring charges related principally to asset charges related to a product line exit.

•The Fueling Solutions segment recorded $1,620 of restructuring charges primarily due to asset charges, headcount reductions and facility exit costs.

•The Imaging & Identification segment recorded restructuring charges of $168 primarily related to headcount reductions.

•The Pumps & Process Solutions segment recorded $639 of restructuring charges primarily related to asset charges.

•The Refrigeration & Food Equipment segment recorded $1,293 of restructuring expense primarily due to asset charges.

•Corporate recorded $200 of restructuring charges primarily related to exit costs associated with IT centralization initiatives.

The Company’s severance and exit accrual activities were as follows:


	Severance		Exit			Total
Balance at December 31, 2020	$	10,547	$	4,366		$	14,913
Restructuring charges	7,933		12,728			20,661
Payments	(9,625)		(4,500)			(14,125)


Other, including foreign currency translation	(190)		(9,342)		(1)	(9,532)
Balance at September 30, 2021	$	8,665	$	3,252		$	11,917

(1) Other activity in exit reserves primarily represents asset charges related to a product line exit.