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Realignment Programs (Tables) | 3 Months Ended
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Mar. 31, 2024
Restructuring and Related Activities [Abstract] |
Restructuring and Related Costs | The following is a summary of total charges, net of adjustments, incurred related to our 2023 Realignment Programs:
| Three Months Ended March 31, 2024
(Amounts in thousands) | FPD |  | FCD |  | Subtotal–Reportable Segments |  | All Other |  | Consolidated Total
Realignment Charges |  |  |  |  |  |  |  |  |
Restructuring Charges |  |  |  |  |  |  |  |  |
COS | $ | 4,414 |  |  | $ | 15 |  |  | $ | 4,429 |  |  | $ | — |  |  | $ | 4,429 |
SG&A | 701 |  |  | — |  |  | 701 |  |  | — |  |  | 701 |
| $ | 5,115 |  |  | $ | 15 |  |  | $ | 5,130 |  |  | $ | — |  |  | $ | 5,130 |
Non-Restructuring Charges |  |  |  |  |  |  |  |  |
COS | $ | 630 |  |  | $ | 752 |  |  | $ | 1,382 |  |  | $ | (138) |  |  | $ | 1,244 |
SG&A | 340 |  |  | 114 |  |  | 454 |  |  | 339 |  |  | 793 |
| $ | 970 |  |  | $ | 866 |  |  | $ | 1,836 |  |  | $ | 201 |  |  | $ | 2,037 |
Total Realignment Charges |  |  |  |  |  |  |  |  |
COS | $ | 5,044 |  |  | $ | 767 |  |  | $ | 5,811 |  |  | $ | (138) |  |  | $ | 5,673 |
SG&A | 1,041 |  |  | 114 |  |  | 1,155 |  |  | 339 |  |  | 1,494 |
Total | $ | 6,085 |  |  | $ | 881 |  |  | $ | 6,966 |  |  | $ | 201 |  |  | $ | 7,167 |
| Three Months Ended March 31, 2023
(Amounts in thousands) | FPD |  | FCD |  | Subtotal–Reportable Segments |  | All Other |  | Consolidated Total
Realignment Charges |  |  |  |  |  |  |  |  |
Restructuring Charges |  |  |  |  |  |  |  |  |
COS | $ | (1,012) |  |  | $ | — |  |  | $ | (1,012) |  |  | $ | 66 |  |  | $ | (946) |
SG&A | — |  |  | 8,905 |  |  | 8,905 |  |  | — |  |  | 8,905 |
| $ | (1,012) |  |  | $ | 8,905 |  |  | $ | 7,893 |  |  | $ | 66 |  |  | $ | 7,959 |
Non-Restructuring Charges |  |  |  |  |  |  |  |  |
COS | $ | 1,402 |  |  | $ | 11 |  |  | $ | 1,413 |  |  | $ | (265) |  |  | $ | 1,148 |
SG&A | 2,050 |  |  | 1 |  |  | 2,051 |  |  | 5,721 |  |  | 7,772 |
| $ | 3,452 |  |  | $ | 12 |  |  | $ | 3,464 |  |  | $ | 5,456 |  |  | $ | 8,920 |
Total Realignment Charges |  |  |  |  |  |  |  |  |
COS | $ | 390 |  |  | $ | 11 |  |  | $ | 401 |  |  | $ | (199) |  |  | $ | 202 |
SG&A | 2,050 |  |  | 8,906 |  |  | 10,956 |  |  | 5,721 |  |  | 16,677 |
Total | $ | 2,440 |  |  | $ | 8,917 |  |  | $ | 11,357 |  |  | $ | 5,522 |  |  | $ | 16,879 |
The following is a summary of total inception to date charges, net of adjustments, related to the 2023 Realignment Programs:
| Inception to Date
(Amounts in thousands) | FPD |  | FCD |  | Subtotal–Reportable Segments |  | All Other |  | Consolidated Total
Realignment Charges |  |  |  |  |  |  |  |  |
Restructuring Charges |  |  |  |  |  |  |  |  |
COS | $ | 7,376 |  |  | $ | 6,420 |  |  | $ | 13,796 |  |  | $ | 66 |  |  | $ | 13,862 |
SG&A | 751 |  |  | 9,777 |  |  | 10,528 |  |  | — |  |  | 10,528 |
| $ | 8,127 |  |  | $ | 16,197 |  |  | $ | 24,324 |  |  | $ | 66 |  |  | $ | 24,390 |
Non-Restructuring Charges |  |  |  |  |  |  |  |  |
COS | $ | 8,465 |  |  | $ | 4,923 |  |  | $ | 13,388 |  |  | $ | (565) |  |  | $ | 12,823 |
SG&A | 14,823 |  |  | 1,730 |  |  | 16,553 |  |  | 19,438 |  |  | 35,991 |
| $ | 23,288 |  |  | $ | 6,653 |  |  | $ | 29,941 |  |  | $ | 18,873 |  |  | $ | 48,814 |
Total Realignment Charges |  |  |  |  |  |  |  |  |
COS | $ | 15,841 |  |  | $ | 11,343 |  |  | $ | 27,184 |  |  | $ | (499) |  |  | $ | 26,685 |
SG&A | 15,574 |  |  | 11,507 |  |  | 27,081 |  |  | 19,438 |  |  | 46,519 |
Total | $ | 31,415 |  |  | $ | 22,850 |  |  | $ | 54,265 |  |  | $ | 18,939 |  |  | $ | 73,204 |
Schedule of Restructuring Reserve by Type of Cost | The following is a summary of restructuring charges, net of adjustments, for our restructuring activities related to our 2023 Realignment Programs:
| Three Months Ended March 31, 2024
(Amounts in thousands) | Severance |  | Contract Termination |  | Asset Write-Downs (Gains) |  | Other |  | Total
COS | $ | 3,985 |  |  | $ | — |  |  | $ | — |  |  | $ | 444 |  |  | $ | 4,429 |
SG&A | 701 |  |  | — |  |  | — |  |  | — |  |  | 701 |
Total | $ | 4,686 |  |  | $ | — |  |  | $ | — |  |  | $ | 444 |  |  | $ | 5,130 |
| Three Months Ended March 31, 2023
(Amounts in thousands) | Severance |  | Contract Termination |  | Asset Write-Downs (Gains) |  | Other |  | Total
COS | $ | 186 |  |  | $ | 66 |  |  | $ | (1,303) |  |  | $ | 105 |  |  | $ | (946) |
SG&A | 5 |  |  | — |  |  | 8,900 |  |  | — |  |  | 8,905 |
Total | $ | 191 |  |  | $ | 66 |  |  | $ | 7,597 |  |  | $ | 105 |  |  | $ | 7,959 |
The following is a summary of total inception to date restructuring charges, net of adjustments, related to our 2023 Realignment Programs:
| Inception to Date
(Amounts in thousands) | Severance |  | Contract Termination |  | Asset Write-Downs (Gains) |  | Other |  | Total
COS | $ | 11,070 |  |  | $ | 301 |  |  | $ | 794 |  |  | $ | 1,697 |  |  | $ | 13,862 |
SG&A | 1,651 |  |  | — |  |  | 8,871 |  |  | 6 |  |  | 10,528 |
Total | $ | 12,721 |  |  | $ | 301 |  |  | $ | 9,665 |  |  | $ | 1,703 |  |  | $ | 24,390 |
The following represents the activity, primarily severance charges from reductions in force, related to the restructuring reserves for the three months ended March 31, 2024 and 2023:
(Amounts in thousands) | 2024 |  | 2023
Balance at January 1, | $ | 8,184 |  |  | $ | 965 |
Charges, net of adjustments | 5,130 |  |  | 362 |
Cash expenditures | (387) |  |  | (234) |
Other non-cash adjustments, including currency | (849) |  |  | (55) |
Balance at March 31, | $ | 12,078 |  |  | $ | 1,038 |

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