Restructuring Activities

12 Months Ended

Dec. 31, 2022

Restructuring and Related Activities [Abstract]

11. Restructuring Activities

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


	Years Ended December 31,
	2022		2021		2020
Engineered Products	$	3,194	$	9,507	$	10,307
Clean Energy & Fueling	9,571		3,609		6,681
Imaging & Identification	4,702		4,589		5,946
Pumps & Process Solutions	4,685		1,911		13,374
Climate & Sustainability Technologies	6,007		5,068		4,015
Corporate	2,321		2,021		4,145
Total	$	30,480	$	26,705	$	44,468
These amounts are classified in the consolidated statements of earnings as follows:
Cost of goods and services	$	6,855	$	12,895	$	18,895
Selling, general and administrative expenses	23,625		13,810		25,573

Total	$	30,480	$	26,705	$	44,468

Total restructuring charges of $30,480 incurred during the year ended December 31, 2022, were primarily a result of restructuring programs initiated in 2021 and 2022 in response to demand conditions and broad-based operational efficiency initiatives focusing on footprint consolidation. Additional programs, beyond the scope of the announced programs may be implemented during 2023 with related restructuring charges.

The $30,480 of restructuring charges incurred during 2022 primarily included the following items:

•The Engineered Products segment recorded $3,194 of restructuring charges related primarily to headcount reductions.

•The Clean Energy & Fueling segment recorded $9,571 of restructuring charges primarily due to headcount reductions and exit costs undertaken in light of market conditions. The segment will continue to make proactive adjustments to its cost structure through restructuring and other programs to align with current demand trends.

•The Imaging & Identification segment recorded $4,702 of restructuring charges related primarily to headcount reductions and exit costs.

•The Pumps & Process Solutions segment recorded $4,685 of restructuring charges related primarily to headcount reductions.

•The Climate & Sustainability Technologies segment recorded $6,007 of restructuring charges related primarily to the substantial liquidation of businesses in certain Latin America countries and includes non-cash foreign currency translation losses.

•Corporate recorded $2,321 of restructuring charges primarily related to exit costs and simplification of organizational structure.

Restructuring expenses incurred in 2021 and 2020 also included headcount reductions, targeted facility consolidations at certain businesses, asset charges related to a product line exit, 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, 2020	$	13,751	$	2,639		$	16,390
Restructuring charges	25,716		18,752			44,468
Payments	(29,768)		(6,035)			(35,803)
Other, including foreign currency translation	848		(10,990)		(1)	(10,142)
Balance at December 31, 2020	10,547		4,366			14,913
Restructuring charges	11,561		15,144			26,705
Payments	(10,951)		(6,171)			(17,122)
Other, including foreign currency translation	(427)		(10,272)		(1)	(10,699)
Balance at December 31, 2021	10,730		3,067			13,797
Restructuring charges	15,388		15,092		(2)	30,480
Payments	(13,975)		(8,159)			(22,134)
Other, including foreign currency translation	(136)		(7,497)		(2)	(7,633)
Balance at December 31, 2022	$	12,007	$	2,503		$	14,510

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

(2) Other activity in exit reserves includes non-cash foreign currency translation losses recorded as restructuring charges due to the substantial liquidation of businesses in certain Latin America countries.

The restructuring accrual balances at December 31, 2022 primarily reflect restructuring plans initiated during the year.