v3.3.1.900
Accrued Liabilities
 12 Months Ended
Dec. 31, 2015
Accrued Liabilities [Abstract]  
Accrued Liabilities Disclosure [Text Block]
Accrued Liabilities

Accrued liabilities in the Consolidated Balance Sheets consisted of the following:

 
December 31,
 
2015
 
2014(1)
 
(In thousands)
Accrued payroll
$
99,383

 
$
120,068

Advance payment from customers
45,590

 
58,049

Accrued taxes
51,834

 
52,599

Accrued asbestos-related liability
48,780

 
50,175

Warranty liability - current portion
36,128

 
47,966

Accrued restructuring liability - current portion
12,918

 
21,846

Accrued third-party commissions
10,275

 
11,026

Other
86,751

 
128,254

Accrued liabilities
$
391,659

 
$
489,983


 
(1) During the year ended December 31, 2015 the Company retrospectively adjusted provisional amounts with respect to an acquisition completed during the three months ended June 27, 2014 to reflect new information obtained about facts and circumstances that existed as of the acquisition date that, if known, would have affected the measurement of the amounts recognized as of that date. See Note 4, “Acquisitions” for further discussion regarding these adjustments. The Company also retrospectively adjusted amounts recorded as of December 31, 2014 for the adoption of ASU 2015-17. See Note 3, “Recently Issued Accounting Pronouncements” for further discussion.

Accrued Restructuring Liability

The Company’s restructuring programs include a series of restructuring 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 Balance Sheets is as follows:

 
Year Ended December 31, 2015
 
Balance at Beginning of Period
 
Provisions
 
Payments
 
Foreign Currency Translation
 
Balance at End of Period(3)
 
(In thousands)
Restructuring and other related charges:
Gas and Fluid Handling:
 
 
 
 
 
 
 
 
 
Termination benefits(1)
$
7,551

 
$
19,927

 
$
(22,994
)
 
$
(505
)
 
$
3,979

Facility closure costs(2)
1,445

 
9,031

 
(7,643
)
 
(176
)
 
2,657

 
8,996

 
28,958

 
(30,637
)
 
(681
)
 
6,636

   Non-cash impairment
 
 
2,569

 
 
 
 
 
 
 
 
 
31,527

 
 
 
 
 
 
Fabrication Technology:
 
 
 
 
 
 
 
 
 
Termination benefits(1)
11,155

 
15,507

 
(20,196
)
 
(435
)
 
6,031

Facility closure costs(2)
1,937

 
5,321

 
(6,647
)
 
(185
)
 
426

 
13,092

 
20,828

 
(26,843
)
 
(620
)
 
6,457

   Non-cash impairment
 
 
8,822

 
 
 
 
 
 
 
 
 
29,650

 
 
 
 
 
 
Corporate and Other:
 
 
 
 
 
 
 
 
 
Facility closure costs(2)
922

 
—

 
(254
)
 
(43
)
 
625

 
922

 
—

 
(254
)
 
(43
)
 
625

 
$
23,010

 
49,786

 
$
(57,734
)
 
$
(1,344
)
 
$
13,718

   Non-cash impairment
 
 
11,391

 
 
 
 
 
 
 
 
 
$
61,177

 
 
 
 
 
 
 
(1) Includes severance and other termination benefits, including outplacement services. The Company recognizes the cost of involuntary termination benefits at the communication date or ratably over any remaining expected future service period. Voluntary termination benefits are recognized as a liability and an expense when employees accept the offer and the amount can be reasonably estimated.
(2) Includes the cost of relocating associates, relocating equipment and lease termination expense in connection with the closure of facilities.
(3) As of December 31, 2015, $12.9 million and $0.8 million of the Company’s restructuring liability was included in Accrued liabilities and Other liabilities, respectively.

 
Year Ended December 31, 2014
 
Balance at Beginning of Period
 
Provisions
 
Payments
 
Foreign Currency Translation
 
Balance at End of Period(3)
 
(In thousands)
Restructuring and other related charges:
Gas and Fluid Handling:
 
 
 
 
 
 
 
 
 
Termination benefits(1)
$
3,638

 
$
18,179

 
$
(13,887
)
 
$
(379
)
 
$
7,551

Facility closure costs(2)
756

 
5,491

 
(4,714
)
 
(88
)
 
1,445

 
4,394

 
23,670

 
(18,601
)
 
(467
)
 
8,996

Non-cash impairment
 
 
2,863

 
 
 
 
 
 
 
 
 
26,533

 
 
 
 
 
 
Fabrication Technology:
 
 
 
 
 
 
 
 
 
Termination benefits(1)
7,033

 
26,790

 
(22,227
)
 
(441
)
 
11,155

Facility closure costs(2)
1,429

 
3,018

 
(2,355
)
 
(155
)
 
1,937

 
8,462

 
29,808

 
(24,582
)
 
(596
)
 
13,092

Non-cash impairment
 
 
1,780

 
 
 
 
 
 
 
 
 
31,588

 
 
 
 
 
 
Corporate and Other:
 
 
 
 
 
 
 
 
 
Facility closure costs(2)
1,259

 
—

 
(275
)
 
(62
)
 
922

 
1,259

 
—

 
(275
)
 
(62
)
 
922

 
$
14,115

 
53,478

 
$
(43,458
)
 
$
(1,125
)
 
$
23,010

Non-cash impairment
 
 
4,643

 
 
 
 
 
 
 
 
 
$
58,121

 
 
 
 
 
 
 
(1) Includes severance and other termination benefits, including outplacement services. The Company recognizes the cost of involuntary termination benefits at the communication date or ratably over any remaining expected future service period. Voluntary termination benefits are recognized as a liability and an expense when employees accept the offer and the amount can be reasonably estimated.
(2) Includes the cost of relocating associates, relocating equipment and lease termination expense in connection with the closure of facilities.
(3) As of December 31, 2014, $21.8 million and $1.2 million of the Company’s restructuring liability was included in Accrued liabilities and Other liabilities, respectively.
    
The Company expects to incur Restructuring and other related charges of approximately $70 million during the year ending December 31, 2016 related to these restructuring activities.