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v3.22.2.2

Accrued and Other Liabilities | 9 Months Ended
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Sep. 30, 2022
Accrued Liabilities [Abstract] |
Accrued and Other Liabilities | 7. Accrued and Other Liabilities Accrued and Other liabilities in the Consolidated and Combined Condensed Balance Sheets consisted of the following:
|  | Current |  |  | Noncurrent |  |  | Current |  |  | Noncurrent |
|  | September 30, 2022 |  |  | December 31, 2021 |
|  | In thousands) |
A cc rued taxes and deferred tax liabilities |  | $ | 57,813 |  |  | $ | 169,839 |  |  | $ | 58,920 |  |  | $ | 203,760 |
Compensation and related benefits |  |  | 70,203 |  |  |  | 62,299 |  |  |  | 74,587 |  |  |  | 62,215 |
Asbestos liability |  |  | 34,841 |  |  |  | 236,757 |  |  |  | — |  |  |  | — |
Contract liability |  |  | 22,475 |  |  |  | — |  |  |  | 22,265 |  |  |  | — |
Lease liability |  |  | 20,323 |  |  |  | 72,060 |  |  |  | 23,110 |  |  |  | 88,777 |
Warranty liability |  |  | 13,721 |  |  |  | — |  |  |  | 14,954 |  |  |  | — |
Third-party commissions |  |  | 14,964 |  |  |  | — |  |  |  | 16,130 |  |  |  | — |
Restructuring liability |  |  | 6,747 |  |  |  | 100 |  |  |  | 7,834 |  |  |  | 275 |
Other |  |  | 49,316 |  |  |  | 8,326 |  |  |  | 33,309 |  |  |  | 7,918 |
|  | $ | 290,403 |  |  | $ | 549,381 |  |  | $ | 251,109 |  |  | $ | 362,945 |
Accrued Warranty Liability A summary of the activity in the Company’s warranty liability included in Accrued liabilities in the Company’s Consolidated and Combined Condensed Balance Sheets is as follows:
|  | Nine Months Ended |
|  | September 30, 2022 |  |  | October 1, 2021 |
|  | (In thousands) |
Warranty liability, beginning of period |  | $ | 14,954 |  |  | $ | 14,022 |
Accrued warranty expense |  |  | 4,367 |  |  |  | 5,661 |
Changes in estimates related to pre-existing warranties |  |  | 2,190 |  |  |  | 1,401 |
Cost of warranty service work performed |  |  | (6,815 | ) |  |  | (5,626 | )
Foreign exchange translation effect |  |  | (975 | ) |  |  | (256 | )
Warranty liability, end of period |  | $ | 13,721 |  |  | $ | 15,202 |
Accrued Restructuring Liability The Company’s restructuring programs include a series of actions to reduce the structural costs of the Company. A summary of the activity in the Company’s restructuring liability included in Accrued liabilities and Other liabilities in the Consolidated and Combined Condensed Balance Sheets is as follows:
|  | Nine Months Ended September 30, 2022 |
|  | Balance at Beginning of Period |  |  | Charges |  |  | Payments |  |  | Foreign Currency Translation |  |  | Balance at End of Period |
|  | (In thousands) |
Restructuring and other related charges: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Americas |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Termination benefits (1) |  | $ | 2,044 |  |  | $ | 1,691 |  |  | $ | (2,708 | ) |  | $ | (7 | ) |  | $ | 1,020 |
Facility closure costs and other (2) |  |  | 50 |  |  |  | 10,022 |  |  |  | (10,013 | ) |  |  | — |  |  |  | 59 |
Subtotal |  |  | 2,094 |  |  |  | 11,713 |  |  |  | (12,721 | ) |  |  | (7 | ) |  |  | 1,079 |
Non-cash charges (2) |  |  |  |  |  |  | (37 | ) |  |  |  |  |  |  |  |  |  |  |  |
Segment Total |  |  |  |  |  |  | 11,676 |  |  |  |  |  |  |  |  |  |  |  |  |
EMEA & APAC |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Termination benefits (1) |  |  | 5,774 |  |  |  | 2,622 |  |  |  | (2,879 | ) |  |  | (174 | ) |  |  | 5,343 |
Facility closure costs and other (2) |  |  | 241 |  |  |  | 2,331 |  |  |  | (2,131 | ) |  |  | (16 | ) |  |  | 425 |
Subtotal |  |  | 6,015 |  |  |  | 4,953 |  |  |  | (5,010 | ) |  |  | (190 | ) |  |  | 5,768 |
Non-cash charges (2) |  |  |  |  |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |
Segment Total |  |  |  |  |  |  | 4,953 |  |  |  |  |  |  |  |  |  |  |  |  |
Total |  | $ | 8,109 |  |  |  | 16,666 |  |  | $ | (17,731 | ) |  | $ | (197 | ) |  | $ | 6,847 |
Non-cash charges (2) |  |  |  |  |  |  | (37 | ) |  |  |  |  |  |  |  |  |  |  |  |
Total Provision |  |  |  |  |  | $ | 16,629 |  |  |  |  |  |  |  |  |  |  |  |  |
(1) | Includes severance and other termination benefits, including outplacement services.
(2) | Includes the cost of relocating associates, relocating equipment, lease termination expense and other costs in connection with the closure and optimization of facilities and product lines.

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- References No definition available. + Details
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