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RESTRUCTURING COSTS | 9 Months Ended
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Sep. 30, 2024
Restructuring and Related Activities [Abstract] |
RESTRUCTURING COSTS | RESTRUCTURING COSTS During the three and nine months ended September 30, 2024, the Corporation executed restructuring activities across all of its segments to support its ongoing effort of improving operating efficiency ("2024 Restructuring Program"). These activities, which primarily include workforce reductions, consolidation of facilities, and costs related to legal entity restructuring, resulted in pre-tax charges of approximately $3.3 million and $7.6 million for the three and nine months ended September 30, 2024. The Company anticipates that these actions will be substantially completed by June 30, 2025. The following tables summarize the respective balances related to these restructuring activities by both reportable segment as well as on a consolidated basis:
In thousands | Restructuring Liability as of December 31, 2023 |  | Provision |  | Cash Payments |  | Restructuring Liability as of September 30, 2024
Aerospace & Industrial |  |  |  |  |  |  |
Severance | $ | — |  |  | $ | 946 |  |  | $ | (946) |  |  | $ | — |
Facility closure and other costs | — |  |  | 1,410 |  |  | (1,281) |  |  | 129 |
Total Aerospace & Industrial | $ | — |  |  | $ | 2,356 |  |  | $ | (2,227) |  |  | $ | 129 |
Defense Electronics |  |  |  |  |  |  |
Severance | $ | — |  |  | $ | 510 |  |  | $ | (395) |  |  | $ | 115 |
Facility closure and other costs | — |  |  | — |  |  | — |  |  | — |
Total Defense Electronics | $ | — |  |  | $ | 510 |  |  | $ | (395) |  |  | $ | 115 |
Naval & Power |  |  |  |  |  |  |
Severance | $ | — |  |  | $ | 120 |  |  | $ | (120) |  |  | $ | — |
Facility closure and other costs | — |  |  | — |  |  | — |  |  | — |
Total Naval & Power | $ | — |  |  | $ | 120 |  |  | $ | (120) |  |  | $ | — |
Consolidated (including Corporate) |  |  |  |  |  |  |
Severance | $ | — |  |  | $ | 1,576 |  |  | $ | (1,461) |  |  | $ | 115 |
Facility closure and other costs | — |  |  | 2,975 |  |  | (2,079) |  |  | 896 |
Total consolidated | $ | — |  |  | $ | 4,551 |  |  | $ | (3,540) |  |  | $ | 1,011 |
A reconciliation of total pre-tax restructuring charges is as follows:
| Affected line item in the Condensed Consolidated Statement of Earnings |  |  |
| Three months ended |  | Nine months ended
(In thousands) | September 30, 2024 |  | September 30, 2024
Inventory write-downs | Cost of product sales | $ | 8 |  |  | $ | 1,402 |
Severance, facility closure, and other costs | Restructuring expenses | 1,633 |  |  | 4,551 |
Property, plant, and equipment & operating lease right of use asset impairments | Restructuring expenses | 1,647 |  |  | 1,647 |
|  | $ | 3,280 |  |  | $ | 6,198 |
Total restructuring charges | Earnings before income taxes | $ | 3,288 |  |  | $ | 7,600 |
There were no such comparable charges for the three or nine months ended September 30, 2023.

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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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