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Restructuring Expenses and Asset Impairments | 9 Months Ended
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Sep. 30, 2021
Restructuring and Related Activities [Abstract] |
Restructuring Expenses and Asset Impairments | Restructuring Expenses and Asset Impairments During the three and nine months ended September 30, 2021, the Company incurred restructuring costs to facilitate long-term, sustainable growth through cost reduction actions, consisting of employee reductions, facility rationalization and asset impairments. Restructuring costs include severance benefits, exit costs and asset impairments and are included in Restructuring expenses and asset impairments 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 first nine months of 2021, the Company consolidated certain facilities within the FMT segment which resulted in asset impairments of $0.8 million related to property, plant and equipment that was not relocated to the new locations. Pre-tax restructuring expenses and asset impairments by segment for the three and nine months ended September 30, 2021 and 2020 were as follows:
|  | Three Months Ended September 30, 2021
|  | Severance Costs |  | Exit Costs |  | Asset Impairment |  | Total
Fluid & Metering Technologies |  | $ | 1,345 |  |  | $ | — |  |  | $ | 589 |  |  | $ | 1,934 |
Health & Science Technologies |  | 626 |  |  | — |  |  | — |  |  | 626 |
Fire & Safety/Diversified Products |  | (55) |  |  | — |  |  | — |  |  | (55) |
Corporate/Other |  | 699 |  |  | — |  |  | — |  |  | 699 |
Total restructuring costs |  | $ | 2,615 |  |  | $ | — |  |  | $ | 589 |  |  | $ | 3,204 |
|  | 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 |
|  | Nine Months Ended September 30, 2021
|  | Severance Costs |  | Exit Costs |  | Asset Impairment |  | Total
Fluid & Metering Technologies |  | $ | 3,972 |  |  | $ | — |  |  | $ | 815 |  |  | $ | 4,787 |
Health & Science Technologies |  | 1,693 |  |  | — |  |  | — |  |  | 1,693 |
Fire & Safety/Diversified Products |  | 161 |  |  | — |  |  | — |  |  | 161 |
Corporate/Other |  | 1,927 |  |  | — |  |  | — |  |  | 1,927 |
Total restructuring costs |  | $ | 7,753 |  |  | $ | — |  |  | $ | 815 |  |  | $ | 8,568 |
|  | 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 |
Restructuring accruals of $3.3 million and $3.9 million at September 30, 2021 and December 31, 2020, respectively, are reflected in Accrued expenses in the Company’s Condensed Consolidated Balance Sheets. Severance benefits are expected to be paid in the next twelve months using cash from operations. The changes in the restructuring accrual for the nine months ended September 30, 2021 are as follows:
| Restructuring
Balance at January 1, 2021 | $ | 3,868 |
Restructuring expenses (1) | 7,753 |
Payments, utilization and other | (8,306) |
Balance at September 30, 2021 | $ | 3,315 |
(1) Excludes $0.8 million of asset impairments related to property, plant and equipment.

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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 -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4(e)) -URI http://asc.fasb.org/extlink&oid=115931487&loc=d3e140904-122747 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -URI http://asc.fasb.org/topic&trid=2175745 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b)(2) -URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 + Details
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