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Realignment and Transformation Programs (Tables)

12 Months Ended

Dec. 31, 2023

Restructuring and Related Activities [Abstract]

Restructuring and Related Costs

			December 31, 2023
(Amounts in thousands)			FPD						FCD						Subtotal–Reportable Segments						All Other						Consolidated Total
Restructuring Charges
COS			$	2,962					$	6,405					$	9,367					$	66					$	9,433
SG&A			50						9,777						9,827						—						9,827
			$	3,012					$	16,182					$	19,194					$	66					$	19,260
Non-Restructuring Charges
COS			$	7,835					$	4,171					$	12,006					$	(427)					$	11,579
SG&A			14,483						1,616						16,099						19,099						35,198
			$	22,318					$	5,787					$	28,105					$	18,672					$	46,777
Total Realignment Charges
COS			$	10,797					$	10,576					$	21,373					$	(361)					$	21,012
SG&A			14,533						11,393						25,926						19,099						45,025
Total			$	25,330					$	21,969					$	47,299					$	18,738					$	66,037

			December 31, 2022
(Amounts in thousands)			FPD						FCD						Subtotal–Reportable Segments						All Other						Consolidated Total
Restructuring Charges
COS			$	768					$	93					$	861					$	—					$	861
SG&A			—						(4)						(4)						—						(4)
			$	768					$	89					$	857					$	—					$	857
Non-Restructuring Charges
COS			$	(530)					$	86					$	(444)					$	(61)					$	(505)
SG&A			148						(391)						(243)						(274)						(517)
			$	(382)					$	(305)					$	(687)					$	(335)					$	(1,022)
Total Realignment Charges
COS			$	238					$	179					$	417					$	(61)					$	356
SG&A			148						(395)						(247)						(274)						(521)
Total			$	386					$	(216)					$	170					$	(335)					$	(165)

			December 31, 2021
(Amounts in thousands)			FPD						FCD						Subtotal–Reportable Segments						All Other						Consolidated Total
Restructuring Charges
COS			$	8,046					$	811					$	8,857					$	—					$	8,857
SG&A			665						(9)						656						—						656
			$	8,711					$	802					$	9,513					$	—					$	9,513
Non-Restructuring Charges
COS			$	6,203					$	1,196					$	7,399					$	590					$	7,989
SG&A			368						708						1,076						3,913						4,989
			$	6,571					$	1,904					$	8,475					$	4,503					$	12,978
Total Realignment Charges
COS			$	14,249					$	2,007					$	16,256					$	590					$	16,846
SG&A			1,033						699						1,732						3,913						5,645
Total			$	15,282					$	2,706					$	17,988					$	4,503					$	22,491

    

The following is a summary of total inception to date charges, net of adjustments, related to the 2023 Realignment Program:

			Inception to Date
(Amounts in thousands)			FPD						FCD						Subtotal–Reportable Segments						All Other						Consolidated Total
Restructuring Charges
COS			$	2,962					$	6,405					$	9,367					$	66					$	9,433
SG&A			50						9,777						9,827						—						9,827
			$	3,012					$	16,182					$	19,194					$	66					$	19,260
Non-Restructuring Charges
COS			$	7,835					$	4,171					$	12,006					$	(427)					$	11,579
SG&A			14,483						1,616						16,099						19,099						35,198
			$	22,318					$	5,787					$	28,105					$	18,672					$	46,777
Total Realignment Charges
COS			$	10,797					$	10,576					$	21,373					$	(361)					$	21,012
SG&A			14,533						11,393						25,926						19,099						45,025
Total			$	25,330					$	21,969					$	47,299					$	18,738					$	66,037

Restructuring charges represent costs associated with the relocation or reorganization of certain business activities and facility closures and include costs related to employee severance at closed facilities, contract termination costs, asset write-downs and other costs. Severance costs primarily include costs associated with involuntary termination benefits. Contract termination costs include costs related to the termination of operating leases or other contract termination costs. Asset write-downs include accelerated depreciation of fixed assets, accelerated amortization of intangible assets, divestiture of certain non-strategic assets and inventory write-downs. Other costs generally include costs related to employee relocation, asset relocation, vacant facility costs (i.e., taxes and insurance) and other charges. Restructuring charges include charges related to approved, but not yet announced, site closures.

The following is a summary of restructuring charges, net of adjustments, for our restructuring activities related to our Realignment Programs:

			December 31, 2023
(Amounts in thousands)			Severance						Contract Termination						Asset Write-Downs						Other						Total
COS			$	7,085					$	301					$	794					$	1,253					$	9,433
SG&A			950						—						8,871						6						9,827
Total			$	8,035					$	301					$	9,665					$	1,259					$	19,260

			December 31, 2022
(Amounts in thousands)			Severance						Contract Termination						Asset Write-Downs						Other						Total
COS			$	122					$	327					$	273					$	139					$	861
SG&A			(4)						—						—						—						(4)
Total			$	118					$	327					$	273					$	139					$	857

			December 31, 2021
(Amounts in thousands)			Severance						Contract Termination						Asset Write-Downs						Other						Total
COS			$	964					$	34					$	2,683					$	5,176					$	8,857
SG&A			167						—						—						489						656
Total			$	1,131					$	34					$	2,683					$	5,665					$	9,513

The following is a summary of total inception to date restructuring charges, net of adjustments, related to our 2023 Realignment Program:

			Inception to Date
(Amounts in thousands)			Severance						Contract Termination						Asset Write-Downs						Other						Total
COS			$	7,085					$	301					$	794					$	1,253					$	9,433
SG&A			950						—						8,871						6						9,827
Total			$	8,035					$	301					$	9,665					$	1,259					$	19,260

Schedule of Restructuring Reserve by Type of Cost

The following represents the activity, primarily severance, related to the restructuring reserve for the Realignment Programs for the years ended December 31, 2023 and 2022:

(Amounts in thousands)			2023						2022
Balance at January 1,			$	965					$	4,868
Charges			9,594						584
Cash expenditures			(2,110)						(3,518)
Other non-cash adjustments, including currency			(265)						(969)
Balance at December 31,			$	8,184					$	965

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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.

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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.

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