Restructuring Activities

12 Months Ended

Dec. 31, 2025

Restructuring and Related Activities [Abstract]

Restructuring Activities

11. Restructuring Activities

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

	Years Ended December 31,
	2025		2024		2023
Engineered Products	$	4,983	$	7,847	$	8,976
Clean Energy & Fueling	13,755		30,858		20,336
Imaging & Identification	4,652		9,960		5,918
Pumps & Process Solutions	9,735		4,956		7,686
Climate & Sustainability Technologies	22,508		15,197		4,541
Corporate	1,110		992		2,444
Total	$	56,743	$	69,810	$	49,901
These amounts are classified in the consolidated statements of earnings as follows:
Cost of goods and services	$	32,092	$	37,993	$	19,352
Selling, general and administrative expenses	24,651		31,817		30,549
Total	$	56,743	$	69,810	$	49,901

The restructuring expenses of $56,743 incurred during the year ended December 31, 2025 were primarily related to exit costs and headcount reductions across all segments, most notably within the Climate & Sustainability Technologies and Clean Energy & Fueling segments. These restructuring programs were initiated in 2024 and 2025 and the Company will continue to make proactive adjustments to its cost structure to align with current demand trends. Additional programs, beyond the scope of the announced programs, may be implemented during 2026 with related restructuring charges.

Restructuring expenses incurred in 2024 and 2023 were primarily comprised of headcount reductions and product line and other exit costs.

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

	Severance		Exit			Total
Balance at January 1, 2023	$	12,007	$	2,468		$	14,475
Restructuring charges	36,899		13,002			49,901
Payments	(31,133)		(9,910)			(41,043)
Other, including foreign currency translation	873		(2,447)			(1,574)
Balance at December 31, 2023	18,646		3,113			21,759
Restructuring charges	28,917		40,893		(1)	69,810
Payments	(33,514)		(10,481)			(43,995)
Other, including foreign currency translation	(505)		(27,634)		(1)	(28,139)
Balance at December 31, 2024	13,544		5,891			19,435
Restructuring charges	26,281		30,462		(1)	56,743
Payments	(27,044)		(16,824)			(43,868)
Other, including foreign currency translation	2,374		(16,090)		(1)	(13,716)
Balance at December 31, 2025	$	15,155	$	3,439		$	18,594

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

The restructuring accrual balances at December 31, 2025 primarily reflect restructuring plans initiated during the year.