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RESTRUCTURING COSTS
 9 Months Ended
Sep. 30, 2024
Restructuring and Related Activities [Abstract]  
RESTRUCTURING COSTS RESTRUCTURING COSTS
During the three and nine months ended September 30, 2024, the Corporation executed restructuring activities across all of its segments to support its ongoing effort of improving operating efficiency ("2024 Restructuring Program"). These activities, which primarily include workforce reductions, consolidation of facilities, and costs related to legal entity restructuring, resulted in pre-tax charges of approximately $3.3 million and $7.6 million for the three and nine months ended September 30, 2024. The Company anticipates that these actions will be substantially completed by June 30, 2025.

The following tables summarize the respective balances related to these restructuring activities by both reportable segment as well as on a consolidated basis:

In thousandsRestructuring Liability as of December 31, 2023ProvisionCash PaymentsRestructuring Liability as of September 30, 2024
Aerospace & Industrial
Severance$— $946 $(946)$— 
Facility closure and other costs— 1,410 (1,281)129 
Total Aerospace & Industrial$— $2,356 $(2,227)$129 
Defense Electronics
Severance$— $510 $(395)$115 
Facility closure and other costs— — — — 
Total Defense Electronics$— $510 $(395)$115 
Naval & Power
Severance$— $120 $(120)$— 
Facility closure and other costs— — — — 
Total Naval & Power$— $120 $(120)$— 
Consolidated (including Corporate)
Severance$— $1,576 $(1,461)$115 
Facility closure and other costs— 2,975 (2,079)896 
Total consolidated$— $4,551 $(3,540)$1,011 
A reconciliation of total pre-tax restructuring charges is as follows:
Affected line item in the Condensed Consolidated Statement of Earnings
Three months endedNine months ended
(In thousands)September 30, 2024September 30, 2024
Inventory write-downsCost of product sales$8 $1,402 
Severance, facility closure, and other costsRestructuring expenses1,633 4,551 
Property, plant, and equipment & operating lease right of use asset impairmentsRestructuring expenses1,647 1,647 
$3,280 $6,198 
Total restructuring chargesEarnings before income taxes$3,288 $7,600 

There were no such comparable charges for the three or nine months ended September 30, 2023.