Restructuring Activities

12 Months Ended

Dec. 31, 2016

Restructuring and Related Activities [Abstract]

Restructuring and Related Activities Disclosure [Text Block]

8. Restructuring Activities

The Company initiated various restructuring programs and incurred severance and other restructuring costs by segment as follows:

	Years Ended December 31,
	2016		2015		2014
Energy	$	18,497	$	30,763	$	7,549
Engineered Systems	3,080		13,302		6,624
Fluids	16,905		4,879		3,784
Refrigeration & Food Equipment	928		5,848		24,897
Corporate	756		412		1,954
Total	$	40,166	$	55,204	$	44,808
These amounts are classified in the Consolidated Statements of Earnings as follows:
Cost of goods and services	$	14,744	$	21,194	$	19,690
Selling, general and administrative expenses	25,422		34,010		25,118
Total	$	40,166	$	55,204	$	44,808

The restructuring charges of $40,166 incurred in 2016 relate to restructuring programs designed to better align the Company's 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 12 to 18 months. Additional programs may be implemented during 2017 with related restructuring charges.

The $40,166 of restructuring charges incurred during 2016 included the following programs:

• The Energy segment incurred restructuring charges of$18,497related to various programs across the segment focused on workforce reductions and field service consolidations. These programs were initiated to better align cost base with the significantly lower demand environment.

• The Engineered Systems segment recorded$3,080of restructuring charges relating to headcount reductions across various businesses primarily related to optimization of administrative functions within Printing & Identification and U.S. manufacturing consolidation within Industrials.

• The Fluids segment recorded$16,905of restructuring charges principally related to headcount reductions and facility consolidations at various businesses across the segment.

• The Refrigeration & Food Equipment segment recorded restructuring charges of$928, primarily related to headcount reductions.

Restructuring expenses incurred in 2015 and 2014 also included targeted facility consolidations at certain businesses and actions taken to optimize the Company's cost structure.

The following table details the Company’s severance and other restructuring accrual activities:

	Severance			Exit				Total
Balance at January 1, 2014	$	2,876		$	2,466			$	5,342
Restructuring charges	23,532			21,276				44,808
Payments	(10,092		)	(5,750		)		(15,842		)
Other, including foreign currency translation	(958		)	(11,329		)	(1)	(12,287		)
Balance at December 31, 2014	15,358			6,663				22,021
Restructuring charges	32,148			23,056				55,204
Payments	(38,003		)	(12,322		)		(50,325		)
Other, including foreign currency translation	1,533			(14,442		)	(1)	(12,909		)
Balance at December 31, 2015	11,036			2,955				13,991
Restructuring charges	30,199			9,967				40,166
Payments	(28,346		)	(7,548		)		(35,894		)
Other, including foreign currency translation	(1,981		)	(3,935		)	(1)	(5,916		)
Balance at December 31, 2016	$	10,908		$	1,439			$	12,347

(1) Other activity in exit reserves primarily represents the non-cash write-off of inventory and property, plant and equipment in connection with certain facility closures.

The restructuring accrual balances at December 31, 2016 primarily reflects restructuring plans initiated during the year, as well as ongoing lease commitment obligations for facilities closed in prior periods.