Restructuring Activities

12 Months Ended

Dec. 31, 2023

Restructuring and Related Activities [Abstract]

11. Restructuring Activities

The Company's restructuring charges by segment as follows:


	Years Ended December 31,
	2023		2022		2021
Engineered Products	$	9,510	$	3,194	$	9,507
Clean Energy & Fueling	20,336		9,571		3,609
Imaging & Identification	5,918		4,702		4,589
Pumps & Process Solutions	7,686		4,685		1,911
Climate & Sustainability Technologies	4,541		6,007		5,068
Corporate	2,444		2,321		2,021
Total	$	50,435	$	30,480	$	26,705
These amounts are classified in the consolidated statements of earnings as follows:
Cost of goods and services	$	19,352	$	6,855	$	12,895
Selling, general and administrative expenses	31,083		23,625		13,810

Total	$	50,435	$	30,480	$	26,705

The restructuring expenses of $50,435 incurred during the year ended December 31, 2023 were primarily related to headcount reductions and exit costs in the Clean Energy & Fueling, Engineered Products and Pumps & Process Solutions segments. These restructuring programs were initiated in 2022 and 2023 and were undertaken in light of current market conditions. The expected costs related to these announced restructuring programs have been incurred primarily through 2023. However, the Company will continue to make proactive adjustments to its cost structure to align with current demand trends and additional programs, beyond the scope of the announced programs, may be implemented during 2024 with related restructuring charges.

Restructuring expenses incurred in 2022 and 2021 also included headcount reductions, exit costs, asset charges related to a product line exit, and substantial liquidation of businesses in certain Latin America countries.

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


	Severance		Exit		Total
Balance at January 1, 2021	$	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)		(10,699)
Balance at December 31, 2021	10,730		3,067		13,797
Restructuring charges	15,388		15,092		30,480
Payments	(13,975)		(8,159)		(22,134)
Other, including foreign currency translation	(136)		(7,497)		(7,633)
Balance at December 31, 2022	12,007		2,503		14,510
Restructuring charges	37,433		13,002		50,435
Payments	(31,364)		(9,945)		(41,309)
Other, including foreign currency translation	570		(2,447)		(1,877)
Balance at December 31, 2023	$	18,646	$	3,113	$	21,759

The restructuring accrual balances at December 31, 2023 primarily reflect restructuring plans initiated during the year.