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Restructuring
 9 Months Ended
Sep. 30, 2023
Restructuring and Related Activities [Abstract]  
Restructuring Restructuring
Overview
2022 Repositioning - In the fourth quarter of 2022, in response to economic uncertainty, we initiated modest workforce reductions of approximately 160 employees, or about 2% of our global workforce. We expect to complete the program in the first quarter of 2024.
2019 Repositioning - In the fourth quarter of 2019, we initiated actions to consolidate two manufacturing operations in Europe within our Process Flow Technologies segment. In 2020, we recorded additional severance costs related to the final negotiation with the works council/union at both locations. These actions, taken together, included workforce reductions of approximately 180 employees, or about 2% of our global workforce. We expect to complete the program in the fourth quarter of 2023.
The Company recorded a restructuring gain of $0.3 million during the nine months ended September 30, 2023.
The following table summarizes the cumulative restructuring costs, net incurred through September 30, 2023. As of September 30, 2023, we do not expect to incur additional facility consolidation costs to complete these actions.
Cumulative Restructuring Costs, Net
(in millions)SeveranceOtherTotal
Aerospace & Electronics$1.5 $— $1.5 
Process Flow Technologies6.3 — 6.3 
Engineered Materials0.1 — 0.1 
2022 Repositioning$7.9 $— $7.9 
Process Flow Technologies$14.9 $(2.8)$12.1 
2019 Repositioning$14.9 $(2.8)$12.1 
Restructuring Liability
The following table summarizes the accrual balances related to each restructuring program:
(in millions)2022 Repositioning2019 RepositioningTotal
Severance:
Balance as of December 31, 2022 (a)
$8.2 $2.4 $10.6 
Utilization(3.4)(1.5)$(4.9)
Balance as of September 30, 2023 (a)
$4.8 $0.9 $5.7 
(a)
Included within Accrued Liabilities in the Condensed Consolidated Balance Sheets.