Restructuring Activities

3 Months Ended

Mar. 31, 2024

Restructuring and Related Activities [Abstract]

Restructuring Activities

9. Restructuring Activities

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

	Three Months Ended March 31,
	2024		2023
Engineered Products	$	492	$	539
Clean Energy & Fueling	4,965		10,144
Imaging & Identification	760		339
Pumps & Process Solutions	1,351		1,326
Climate & Sustainability Technologies	11,070		242
Corporate	17		(114)
Total	$	18,655	$	12,476
These amounts are classified in the condensed consolidated statements of earnings as follows:
Cost of goods and services	$	13,923	$	3,473
Selling, general and administrative expenses	4,732		9,003
Total	$	18,655	$	12,476

The restructuring expenses of $18,655 incurred during the three months ended March 31, 2024 were primarily related to product line exit costs and headcount reductions in the Climate & Sustainability Technologies, Clean Energy & Fueling and Pumps & Process Solutions segments. These restructuring programs were initiated in 2023 and 2024 and the Company will continue to make proactive adjustments to its cost structure to align with current demand trends.

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

	Severance		Exit			Total
Balance at January 1, 2024	$	18,646	$	3,113		$	21,759
Restructuring charges	3,539		15,116		(1)	18,655
Payments	(8,427)		(1,689)			(10,116)
Other, including foreign currency translation	(234)		(12,637)		(1)	(12,871)
Balance at March 31, 2024	$	13,524	$	3,903		$	17,427

(1) Exit reserves activity includes non-cash asset charges related to a product line exit within Climate & Sustainability Technologies segment.