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Restructuring Activities | 12 Months Ended
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Dec. 31, 2024
Restructuring and Related Activities [Abstract] |
Restructuring Activities | 11. Restructuring Activities The Company's restructuring charges by segment were as follows:
| Years Ended December 31,
| 2024 |  | 2023 |  | 2022
Engineered Products | $ | 7,847 |  |  | $ | 8,976 |  |  | $ | 3,194 |
Clean Energy & Fueling | 30,858 |  |  | 20,336 |  |  | 9,571 |
Imaging & Identification | 9,960 |  |  | 5,918 |  |  | 4,702 |
Pumps & Process Solutions | 4,956 |  |  | 7,686 |  |  | 4,685 |
Climate & Sustainability Technologies | 15,197 |  |  | 4,541 |  |  | 6,007 |
Corporate | 992 |  |  | 2,444 |  |  | 2,321 |
Total | $ | 69,810 |  |  | $ | 49,901 |  |  | $ | 30,480 |
These amounts are classified in the consolidated statements of earnings as follows:
Cost of goods and services | $ | 37,993 |  |  | $ | 19,352 |  |  | $ | 6,855 |
Selling, general and administrative expenses | 31,817 |  |  | 30,549 |  |  | 23,625 |
Total | $ | 69,810 |  |  | $ | 49,901 |  |  | $ | 30,480 |
The restructuring expenses of $69,810 incurred during the year ended December 31, 2024 were primarily related to headcount reductions and product line and other exit costs in the Clean Energy & Fueling and Climate & Sustainability Technologies segments. These restructuring programs were initiated in 2023 and 2024 and were undertaken in light of current market conditions. The expected costs related to these announced restructuring programs have been incurred primarily through 2024. However, the Company will continue to make proactive adjustments to its cost structure to align with current demand trends and additional programs, beyond the scope of the announced programs, may be implemented during 2025 with related restructuring charges. Restructuring expenses incurred in 2023 and 2022 also included headcount reductions, exit costs, and substantial liquidation of businesses in certain Latin America countries. The Company's severance and exit accrual activities were as follows:
| Severance |  | Exit |  | Total
Balance at January 1, 2022 | $ | 10,730 |  |  | $ | 2,925 |  |  | $ | 13,655 |
Restructuring charges | 15,388 |  |  | 15,092 |  |  | 30,480 |
Payments | (13,975) |  |  | (8,052) |  |  | (22,027) |
Other, including foreign currency translation | (136) |  |  | (7,497) |  |  | (7,633) |
Balance at December 31, 2022 | 12,007 |  |  | 2,468 |  |  | 14,475 |
Restructuring charges | 36,899 |  |  | 13,002 |  |  | 49,901 |
Payments | (31,133) |  |  | (9,910) |  |  | (41,043) |
Other, including foreign currency translation | 873 |  |  | (2,447) |  |  | (1,574) |
Balance at December 31, 2023 | 18,646 |  |  | 3,113 |  |  | 21,759 |
Restructuring charges | 28,917 |  |  | 40,893 |  | (1) | 69,810 |
Payments | (33,514) |  |  | (10,481) |  |  | (43,995) |
Other, including foreign currency translation | (505) |  |  | (27,634) |  | (1) | (28,139) |
Balance at December 31, 2024 | $ | 13,544 |  |  | $ | 5,891 |  |  | $ | 19,435 |
(1) Exit reserves activity includes non-cash asset charges related to a product line exit within the Climate & Sustainability Technologies segment. The restructuring accrual balances at December 31, 2024 primarily reflect restructuring plans initiated during the year.

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- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4.e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479823/420-10-S99-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/420/tableOfContent Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 + Details
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