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Realignment Programs (Tables)

3 Months Ended

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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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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