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Restructuring Activities
 6 Months Ended
Jun. 30, 2015
Restructuring [Abstract]  
Restructuring and Related Activities Disclosure
8. Restructuring Activities

The following table details restructuring charges incurred by segment for the periods presented:
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2015
 
2014
 
2015
 
2014
Energy
$
2,556

 
$
1,419

 
$
20,378

 
$
1,490

Engineered Systems
747

 
1,236

 
5,102

 
3,021

Fluids
58

 
(367
)
 
2,155

 
538

Refrigeration & Food Equipment
(243
)
 
10

 
(525
)
 
10

Corporate
—

 
648

 
111

 
1,157

Total
$
3,118

 
$
2,946

 
$
27,221

 
$
6,216

 
 
 
 
 
 
 
 
These amounts are classified in the unaudited Condensed Consolidated Statements of Earnings as follows:
 
 
 
 
 
 
 
 
Cost of goods and services
$
2,474

 
$
1,189

 
$
9,928

 
$
1,732

Selling and administrative expenses
644

 
1,757

 
17,293

 
4,484

Total
$
3,118

 
$
2,946

 
$
27,221

 
$
6,216



The restructuring expenses of $3,118 and $27,221 incurred in the three and six months ended June 30, 2015 related to restructuring programs initiated during 2015 and 2014. These programs are designed to better align the Company's costs and operations with current market conditions through targeted facility consolidations, headcount reductions and other measures to further optimize operations. The Company expects the programs currently underway to be substantially completed in the next twelve to eighteen months.

The $3,118 of restructuring charges incurred during the second quarter of 2015 primarily included the following items:

•
The Energy segment incurred restructuring charges of $2,556 related to various programs across the segment focused on workforce reductions and facility consolidations. These programs were initiated to better align cost base with the anticipated demand environment in 2015.

•
The Engineered Systems segment recorded $747 of restructuring charges relating to headcount reductions across various businesses, well as actions taken to optimize costs related to administrative functions within the Printing & Identification platform.

The following table details the Company’s severance and other restructuring accrual activity:
 
Severance
 
Exit
 
Total
Balance at December 31, 2014
$
15,358

 
$
6,663

 
$
22,021

Restructuring charges
15,584

 
11,637

 
27,221

Payments
(21,151
)
 
(6,356
)
 
(27,507
)
Foreign currency translation
(442
)
 
(322
)
 
(764
)
Other, including write-offs of fixed assets
197

 
(7,019
)
 
(6,822
)
Balance at June 30, 2015
$
9,546

 
$
4,603

 
$
14,149



The accrual balance at June 30, 2015 primarily reflects restructuring plans initiated during the year, as well as ongoing lease commitment obligations for facilities closed in earlier periods.