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Restructuring Expenses and Asset Impairments (Tables)

6 Months Ended

Jun. 30, 2023

Restructuring and Related Activities [Abstract]

Schedule of Restructuring Costs

Pre-tax restructuring expenses and asset impairments by segment for the three and six months ended June 30, 2023 were as follows:

						Three Months Ended June 30, 2023
						Severance Costs						Exit Costs						Asset Impairments						Total
Fluid & Metering Technologies						$	0.1					$	—					$	0.5					$	0.6
Health & Science Technologies						2.7						—						—						2.7
Fire & Safety/Diversified Products						0.3						—						—						0.3
Corporate/Other						—						—						—						—
Restructuring expenses and asset impairments						$	3.1					$	—					$	0.5					$	3.6

						Six Months Ended June 30, 2023
						Severance Costs						Exit Costs						Asset Impairments						Total
Fluid & Metering Technologies						$	0.2					$	—					$	0.5					$	0.7
Health & Science Technologies						3.0						—						—						3.0
Fire & Safety/Diversified Products						0.4						—						—						0.4
Corporate/Other						—						—						—						—
Restructuring expenses and asset impairments						$	3.6					$	—					$	0.5					$	4.1

Pre-tax restructuring expenses and asset impairments by segment for the three and six months ended June 30, 2022 were as follows:

						Three Months Ended June 30, 2022
						Severance Costs						Exit Costs						Asset Impairments						Total
Fluid & Metering Technologies						$	1.2					$	0.3					$	0.2					$	1.7
Health & Science Technologies						0.1						—						—						0.1
Fire & Safety/Diversified Products						1.0						—						—						1.0
Corporate/Other						—						—						—						—
Restructuring expenses and asset impairments						$	2.3					$	0.3					$	0.2					$	2.8

						Six Months Ended June 30, 2022
						Severance Costs						Exit Costs						Asset Impairments						Total
Fluid & Metering Technologies						$	1.5					$	0.3					$	0.2					$	2.0
Health & Science Technologies						0.2						—						—						0.2
Fire & Safety/Diversified Products						1.0						—						—						1.0
Corporate/Other						0.2						—						—						0.2
Restructuring expenses and asset impairments						$	2.9					$	0.3					$	0.2					$	3.4

Schedule of Restructuring Reserve

Restructuring accruals reflected in Accrued expenses in the Company’s Condensed Consolidated Balance Sheets are as follows:

			Restructuring Initiatives
Balance at January 1, 2023			$	1.4
Restructuring expenses			3.6
Payments, utilization and other			(3.2)
Balance at June 30, 2023			$	1.8

X

- References

No definition available.

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- Definition

Tabular disclosure of costs incurred for restructuring including, but not limited to, exit and disposal activities, remediation, implementation, integration, asset impairment, and charges against earnings from the write-down of assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 5.P.3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479823/420-10-S99-1

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 420
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-Section 50
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482017/420-10-50-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB TOPIC 5.P.4)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479823/420-10-S99-2

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- Definition

Tabular disclosure of an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost. This element may also include a description of any reversal and other adjustment made during the period to the amount of an accrued liability for restructuring activities. This element may be used to encapsulate the roll forward presentations of an entity's restructuring reserve by type of cost and in total, and explanation of changes that occurred in the period.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482017/420-10-50-1

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 5.P.4(b)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479823/420-10-S99-2

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