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Restructuring Activities (Tables) | 6 Months Ended
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Jun. 30, 2023
Restructuring and Related Activities [Abstract] |
Schedule of Restructuring Charges by Segment | The Company's restructuring charges by segment were as follows:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Engineered Products | $ | 3,938 |  |  | $ | 524 |  |  | $ | 4,477 |  |  | $ | 981 |
Clean Energy & Fueling | 5,847 |  |  | 1,423 |  |  | 15,991 |  |  | 1,619 |
Imaging & Identification | 865 |  |  | 344 |  |  | 1,204 |  |  | 1,535 |
Pumps & Process Solutions | 3,303 |  |  | 1,476 |  |  | 4,629 |  |  | 2,161 |
Climate & Sustainability Technologies | 1,205 |  |  | 159 |  |  | 1,447 |  |  | 5,875 |
Corporate | 1,241 |  |  | 383 |  |  | 1,127 |  |  | 295 |
Total | $ | 16,399 |  |  | $ | 4,309 |  |  | $ | 28,875 |  |  | $ | 12,466 |
These amounts are classified in the condensed consolidated statements of earnings as follows:
Cost of goods and services | $ | 5,682 |  |  | $ | 1,037 |  |  | $ | 9,155 |  |  | $ | 1,244 |
Selling, general and administrative expenses | 10,717 |  |  | 3,272 |  |  | 19,720 |  |  | 11,222 |
Total | $ | 16,399 |  |  | $ | 4,309 |  |  | $ | 28,875 |  |  | $ | 12,466 |
Schedule of Severance and Exit Accrual Activities | The Company’s severance and exit accrual activities were as follows:
| Severance |  | Exit |  | Total
Balance at January 1, 2023 | $ | 12,007 |  |  | $ | 2,503 |  |  | $ | 14,510 |
Restructuring charges | 22,204 |  |  | 6,671 |  |  | 28,875 |
Payments | (14,441) |  |  | (4,747) |  |  | (19,188) |
Other, including foreign currency translation | 422 |  |  | (740) |  |  | (318) |
Balance at June 30, 2023 | $ | 20,192 |  |  | $ | 3,687 |  |  | $ | 23,879 |

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- Definition Tabular disclosure of costs incurred for restructuring including, but not limited to, exit and disposal activities, remediation, implementation, integration, asset impairment, and charges against earnings from the write-down of assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 5.P.3) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479823/420-10-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482017/420-10-50-1 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 5.P.4) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479823/420-10-S99-2 + Details
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- Definition Tabular disclosure of an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost. This element may also include a description of any reversal and other adjustment made during the period to the amount of an accrued liability for restructuring activities. This element may be used to encapsulate the roll forward presentations of an entity's restructuring reserve by type of cost and in total, and explanation of changes that occurred in the period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482017/420-10-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4(b)(2)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479823/420-10-S99-2 + Details
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