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Restructuring | 9 Months Ended
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Sep. 30, 2020
Restructuring and Related Activities [Abstract] |
Restructuring | RestructuringDuring the year ended December 31, 2019 and the three and nine months ended September 30, 2020, the Company recorded accruals for restructuring costs incurred to facilitate long-term, sustainable growth through cost reduction actions, consisting of employee reductions and facility rationalization. Restructuring costs include severance benefits, exit costs and asset impairment charges and are included in Restructuring expenses in the Condensed Consolidated Statements of Operations. Severance costs primarily consist of severance benefits through payroll continuation, COBRA subsidies, outplacement services, conditional separation costs and employer tax liabilities, while exit costs primarily consist of lease exit and contract termination costs. In the second quarter of 2019, the Company began to evaluate strategic alternatives for one of its businesses in the HST segment. Prior to making a final decision on the options that were presented for this business, the business was informed in the third quarter of 2019 of the loss of its largest customer. As a result, the Company accelerated its restructuring activities for this business and a decision was made to wind down the business over time. This event required an interim impairment test be performed on the long-lived tangible and intangible assets of the business, which resulted in an impairment charge of $9.7 million, consisting of $6.1 million related to a customer relationships intangible asset, $1.0 million related to an unpatented technology intangible asset, $2.0 million related to property, plant and equipment and $0.6 million related to a building right-of-use asset. This charge was recorded as Restructuring expense in the Condensed Consolidated Statements of Operations. Pre-tax restructuring expenses by segment for the three and nine months ended September 30, 2020 and 2019 were as follows:
|  | Three Months Ended September 30, 2020
|  | Severance Costs |  | Exit Costs |  | Asset Impairment |  | Total
Fluid & Metering Technologies |  | $ | 500 |  |  | $ | — |  |  | $ | 85 |  |  | $ | 585 |
Health & Science Technologies |  | 978 |  |  | — |  |  | — |  |  | 978 |
Fire & Safety/Diversified Products |  | 1,249 |  |  | — |  |  | — |  |  | 1,249 |
Corporate/Other |  | 105 |  |  | — |  |  | — |  |  | 105 |
Total restructuring costs |  | $ | 2,832 |  |  | $ | — |  |  | $ | 85 |  |  | $ | 2,917 |
|  | Three Months Ended September 30, 2019
|  | Severance Costs |  | Exit Costs |  | Asset Impairment |  | Total
Fluid & Metering Technologies |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Health & Science Technologies |  | 1,164 |  |  | 352 |  |  | 9,680 |  |  | 11,196 |
Fire & Safety/Diversified Products |  | 104 |  |  | — |  |  | — |  |  | 104 |
Corporate/Other |  | 656 |  |  | — |  |  | — |  |  | 656 |
Total restructuring costs |  | $ | 1,924 |  |  | $ | 352 |  |  | $ | 9,680 |  |  | $ | 11,956 |
|  | Nine Months Ended September 30, 2020
|  | Severance Costs |  | Exit Costs |  | Asset Impairment |  | Total
Fluid & Metering Technologies |  | $ | 2,348 |  |  | $ | — |  |  | $ | 85 |  |  | $ | 2,433 |
Health & Science Technologies |  | 2,162 |  |  | — |  |  | — |  |  | 2,162 |
Fire & Safety/Diversified Products |  | 1,890 |  |  | — |  |  | — |  |  | 1,890 |
Corporate/Other |  | 273 |  |  | — |  |  | — |  |  | 273 |
Total restructuring costs |  | $ | 6,673 |  |  | $ | — |  |  | $ | 85 |  |  | $ | 6,758 |
|  | Nine Months Ended September 30, 2019
|  | Severance Costs |  | Exit Costs |  | Asset Impairment |  | Total
Fluid & Metering Technologies |  | $ | 930 |  |  | $ | — |  |  | $ | — |  |  | $ | 930 |
Health & Science Technologies |  | 1,210 |  |  | 636 |  |  | 9,680 |  |  | 11,526 |
Fire & Safety/Diversified Products |  | 923 |  |  | — |  |  | — |  |  | 923 |
Corporate/Other |  | 703 |  |  | — |  |  | — |  |  | 703 |
Total restructuring costs |  | $ | 3,766 |  |  | $ | 636 |  |  | $ | 9,680 |  |  | $ | 14,082 |
Restructuring accruals of $4.0 million and $6.1 million at September 30, 2020 and December 31, 2019, respectively, are reflected in Accrued expenses on the Condensed 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, 2020 are as follows:
| Restructuring
Balance at January 1, 2020 | $ | 6,110 |
Restructuring expenses | 6,758 |
Payments, utilization and other | (8,842) |
Balance at September 30, 2020 | $ | 4,026 |

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -URI http://asc.fasb.org/topic&trid=2175745 + Details
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