Restructuring Activities

3 Months Ended

Mar. 31, 2020

Restructuring and Related Activities [Abstract]

Restructuring and Related Activities Disclosure

9. Restructuring Activities

The Company's restructuring charges by segment were as follows:


	Three Months Ended March 31,
	2020		2019
Engineered Products	$	358	$	79
Fueling Solutions	1,475		738
Imaging & Identification	256		291
Pumps & Process Solutions	3,846		381
Refrigeration & Food Equipment	560		1,412
Corporate	846		35
Total	$	7,341	$	2,936

These amounts are classified in the Condensed Consolidated Statements of Earnings as follows:
Cost of goods and services	$	1,542	$	1,179
Selling, general and administrative expenses	5,799		1,757
Total	$	7,341	$	2,936

The restructuring expenses of $7,341 incurred during the three months ended March 31, 2020, were a result of restructuring programs initiated in 2019. Restructuring expense was comprised primarily of broad-based selling, general and administrative expense reduction and broad-based operational efficiency initiatives focusing on footprint consolidation, operational optimization and IT centralization designed to increase operating margin, enhance operations and position the Company for sustained growth and investment. The Company expects to incur additional charges of approximately $6 million during the remainder of 2020. COVID-19 has not resulted in significant restructuring costs. Additional programs, beyond the scope of the announced programs, may be implemented during 2020 with related restructuring charges.

The $7,341 of restructuring charges incurred during the first quarter of 2020 primarily included the following items:

•The Engineered Products segment recorded $358 of restructuring charges principally related to headcount reductions.

•The Fueling Solutions segment recorded $1,475 of restructuring charges principally related to headcount reductions.

•The Imaging & Identification segment recorded $256 of restructuring charges principally related to headcount reductions.

•The Pumps & Process Solutions segment recorded $3,846 of restructuring expense primarily due to headcount reductions and facility restructuring costs.

•The Refrigeration & Food Equipment segment recorded $560 of restructuring expense primarily due to headcount reductions and facility restructuring costs.

•Corporate recorded $846 of restructuring charges primarily related to headcount reductions and associated exit costs related to IT centralization initiatives.

The Company’s severance and exit accrual activities were as follows:


	Severance		Exit			Total
Balance at December 31, 2019	$	13,751	$	2,639		$	16,390
Restructuring charges	4,014		3,327			7,341
Payments	(6,510)		(2,049)			(8,559)


Other, including foreign currency translation	184		(2,376)		⁽¹⁾	(2,192)
Balance at March 31, 2020	$	11,439	$	1,541		$	12,980

⁽¹⁾ Other activity in exit reserves primarily represents the non-cash write-off of certain long-lived assets in connection with certain facility closures.