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Restructuring Activities | 3 Months Ended
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Mar. 31, 2025
Restructuring and Related Activities [Abstract] |
Restructuring Activities | 9. Restructuring Activities The Company's restructuring charges by segment were as follows:
| Three Months Ended March 31, |  |
| 2025 |  | 2024 |  |  |  |
Engineered Products | $ | 2,468 |  |  | $ | 492 |  |  |  |  |
Clean Energy & Fueling | 1,768 |  |  | 4,965 |  |  |  |  |
Imaging & Identification | 169 |  |  | 760 |  |  |  |  |
Pumps & Process Solutions | 1,945 |  |  | 1,351 |  |  |  |  |
Climate & Sustainability Technologies | 1,666 |  |  | 11,070 |  |  |  |  |
Corporate | 294 |  |  | 17 |  |  |  |  |
Total | $ | 8,310 |  |  | $ | 18,655 |  |  |  |  |
These amounts are classified in the condensed consolidated statements of earnings as follows:
Cost of goods and services | $ | 4,320 |  |  | $ | 13,923 |  |  |  |  |
Selling, general and administrative expenses | 3,990 |  |  | 4,732 |  |  |  |  |
Total | $ | 8,310 |  |  | $ | 18,655 |  |  |  |  |
The restructuring expenses of $8,310 incurred during the three months ended March 31, 2025 were primarily related to headcount reductions and exit costs across the segments. These restructuring programs were initiated in 2024 and 2025 and the Company will continue to make proactive adjustments to its cost structure to align with current demand trends. The Company’s severance and exit accrual activities were as follows:
| Severance |  | Exit |  | Total
Balance at January 1, 2025 | $ | 13,544 |  |  | $ | 5,891 |  |  | $ | 19,435 |
Restructuring charges | 6,389 |  |  | 1,921 |  |  | 8,310 |
Payments | (7,224) |  |  | (2,102) |  |  | (9,326) |
Other, including foreign currency translation | 1,117 |  |  | (143) |  |  | 974 |
Balance at March 31, 2025 | $ | 13,826 |  |  | $ | 5,567 |  |  | $ | 19,393 |

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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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