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Restructuring | 3 Months Ended
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Mar. 31, 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 300 employees, or about 3% 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 less than 1% of our global workforce. We expect to complete the program in the fourth quarter of 2023. The following table summarizes the cumulative restructuring costs, net incurred through March 31, 2023. As of March 31, 2023, we do not expect to incur additional facility consolidation costs to complete these actions.
| Cumulative Restructuring Costs, Net |  |
(in millions) | Severance | Other | Total |  |
Aerospace & Electronics | $ | 1.5 |  | $ | — |  | $ | 1.5 |  |  |
Process Flow Technologies | 6.3 |  | — |  | 6.3 |  |  |
Payment & Merchandising Technologies | 5.7 |  | 0.5 |  | 6.2 |  |  |
Engineered Materials | 0.4 |  | — |  | 0.4 |  |  |
2022 Repositioning | $ | 13.9 |  | $ | 0.5 |  | $ | 14.4 |  |  |
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 Repositioning |  | 2019 Repositioning | Total
Severance: |  |  |  |  |  |
Balance as of December 31, 2022 (a) |  |  | $ | 14.2 |  |  | $ | 2.4 |  | $ | 16.6 |
Utilization |  |  | (4.1) |  |  | (1.0) |  | (5.1) |
Balance as of March 31, 2023 (a) |  |  | $ | 10.1 |  |  | $ | 1.4 |  | $ | 11.5 |
(a) | Included within Accrued Liabilities in the Condensed Consolidated Balance Sheets.

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- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4(e)) -URI https://asc.fasb.org/extlink&oid=115931487&loc=d3e140904-122747 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -URI https://asc.fasb.org/topic&trid=2175745 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b)(2) -URI https://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 + Details
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