XML 32 R21.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Restructuring | 9 Months Ended
--- | ---
Sep. 30, 2017
Restructuring and Related Activities [Abstract] |
Restructuring | Restructuring During the first quarter of 2017, the Company recorded restructuring costs of $4.8 million as part of the 2016 restructuring initiatives that support the implementation of key strategic efforts designed to facilitate long-term, sustainable growth through cost reduction actions, primarily consisting of employee reductions and facility rationalization. The restructuring costs included severance benefits for 97 employees. The costs incurred related to these initiatives were included in Restructuring expenses in the Consolidated Statements of Operations while the related accruals were included in Accrued expenses in the Condensed Consolidated Balance Sheets. Severance costs primarily consisted of severance benefits through payroll continuation, COBRA subsidies, outplacement services, conditional separation costs and employer tax liabilities, while exit costs primarily consisted of asset disposals or impairments. Pre-tax restructuring expenses by segment for the nine months ended September 30, 2017 are as follows:
|  | Severance Costs |  | Exit Costs |  | Total
|  | (In thousands)
Fluid & Metering Technologies |  | $ | 1,566 |  |  | $ | — |  |  | $ | 1,566 |
Health & Science Technologies |  | 2,470 |  |  | 558 |  |  | 3,028 |
Fire & Safety/Diversified Products |  | 73 |  |  | — |  |  | 73 |
Corporate/Other |  | 130 |  |  | — |  |  | 130 |
Total restructuring costs |  | $ | 4,239 |  |  | $ | 558 |  |  | $ | 4,797 |
Restructuring accruals of $0.7 million and $3.9 million at September 30, 2017 and December 31, 2016, respectively, are recorded in Accrued expenses in the Consolidated Balance Sheets. Severance benefits are expected to be paid by the end of the year using cash from operations. The changes in the restructuring accrual for the nine months ended September 30, 2017 are as follows:
|  | Restructuring
|  | (In thousands)
Balance at January 1, 2017 |  | $ | 3,893 |
Restructuring expenses |  | 4,797 |
Payments, utilization and other |  | (8,028 | )
Balance at September 30, 2017 |  | $ | 662 |

X
- References No definition available. + Details
Name: | us-gaap_RestructuringAndRelatedActivitiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -URI http://asc.fasb.org/topic&trid=2175745 + Details
Name: | us-gaap_RestructuringAndRelatedActivitiesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration