Restructuring Activities

9 Months Ended

Sep. 30, 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 September 30,						Nine Months Ended September 30,
	2020		2019		2020		2019
Engineered Products	$	2,342	$	556	$	6,860	$	1,757
Fueling Solutions	1,572		825		3,958		3,339
Imaging & Identification	99		296		(167)		1,973
Pumps & Process Solutions	1,719		907		10,271		1,789
Refrigeration & Food Equipment	534		495		3,307		2,134
Corporate	474		257		2,136		1,018
Total	$	6,740	$	3,336	$	26,365	$	12,010

These amounts are classified in the Condensed Consolidated Statements of Earnings as follows:
Cost of goods and services	$	2,710	$	2,073	$	11,809	$	4,435
Selling, general and administrative expenses	4,030		1,263		14,556		7,575
Total	$	6,740	$	3,336	$	26,365	$	12,010

The restructuring expenses of $6,740 and $26,365 incurred during the three and nine months ended September 30, 2020, respectively, were a result of restructuring programs initiated primarily in 2020. Restructuring expense was comprised primarily of new actions executed in response to lower demand driven by COVID-19 as well as continuing broad-based selling, general and administrative expense reduction initiatives and broad-based operational efficiency initiatives focusing on footprint

consolidation, and operational optimization and IT centralization. Additional programs, beyond the scope of the announced programs, may be implemented during 2020 with related restructuring charges.

The $6,740 of restructuring charges incurred during the third quarter of 2020 primarily included the following items:

•The Engineered Products segment recorded $2,342 of restructuring charges principally related to headcount reductions.

•The Fueling Solutions segment recorded $1,572 of restructuring charges primarily due to headcount reductions.

•The Imaging & Identification segment recorded a restructuring charges of $99 principally related to facility restructuring costs.

•The Pumps & Process Solutions segment recorded $1,719 of restructuring expense primarily due to headcount reductions.

•The Refrigeration & Food Equipment segment recorded $534 of restructuring expense primarily due to headcount reductions and facility restructuring costs.

•Corporate recorded $474 of restructuring charges primarily related to exit costs associated with 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	18,832		7,533			26,365
Payments	(24,837)		(3,895)			(28,732)


Other, including foreign currency translation	466		(3,982)		⁽¹⁾	(3,516)
Balance at September 30, 2020	$	8,212	$	2,295		$	10,507

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