Realignment Programs (Tables)

12 Months Ended

Dec. 31, 2015

R1 Realignment Program

Restructuring Cost and Reserve [Line Items]

Restructuring and Related Costs [Table Text Block]

The following is a summary of total charges, net of adjustments, related to the R1 Realignment Program for the year ended December 31, 2015. In addition to the charges below $5.5 million was reported in income tax expense in our consolidated statement of income for the year ended December 31, 2015:

(Amounts in thousands)
Restructuring Charges
COS	$	20,446
SG&A	9,259
	$	29,705
Non-Restructuring Charges
COS	$	700
SG&A	3,872
	$	4,572
Total Realignment Program Charges
COS	$	21,146
SG&A	13,131
	$	34,277

Schedule of Restructuring Reserve by Type of Cost [Table Text Block]

The following represents the activity, primarily severance, related to the restructuring reserve for the R1 Realignment Program:

(Amounts in thousands)
Balance at December 31, 2014	$	—
Charges	29,705
Cash expenditures	(383		)
Other non-cash adjustments, including currency	(4,166		)
Balance at December 31, 2015	$	25,156

R2 Realignment Program

Restructuring Cost and Reserve [Line Items]

Restructuring and Related Costs [Table Text Block]

The following is a summary of Restructuring charges, net of adjustments, for the R2 Realignment Program the year ended December 31, 2015:

(Amounts in thousands)	Severance		Contract Termination		Asset Write-Downs		Other		Total
COS	$	16,893	$	424	$	1,764	$	183	$	19,264
SG&A	14,328		43		33		682		15,086
Total	$	31,221	$	467	$	1,797	$	865	$	34,350

The following is a summary of charges, net of adjustments, related to the R2 Realignment Program for the year ended December 31, 2015. In addition to the charges below, $3.4 million was reported in income tax expense in our consolidated statement of income for the year ended December 31, 2015:

(Amounts in thousands)	Engineered Product Division		Industrial Product Division		Flow Control Division		Subtotal–Reportable Segments		Eliminations and All Other		Consolidated Total
Restructuring Charges
COS	$	9,963	$	—	9,301		19,264		$	—	$	19,264
SG&A	7,475		—		7,611		15,086		—		15,086
	$	17,438	$	—	$	16,912	$	34,350	$	—	$	34,350
Non-Restructuring Charges
COS	$	10,266	$	7,461	$	8,583	$	26,310	$	—	$	26,310
SG&A	5,831		2,976		3,413		12,220		—		12,220
	$	16,097	$	10,437	$	11,996	$	38,530	$	—	$	38,530
Total Realignment Program Charges
COS	$	20,229	$	7,461	$	17,884	$	45,574	$	—	$	45,574
SG&A	13,306		2,976		11,024		27,306		—		27,306
	$	33,535	$	10,437	$	28,908	$	72,880	$	—	$	72,880

Schedule of Restructuring Reserve by Type of Cost [Table Text Block]

The following represents the activity, primarily severance, related to the restructuring reserve for the R2 Realignment Program:

(Amounts in thousands)
Balance at December 31, 2014	$	—
Charges	34,350
Cash expenditures	(1,791		)
Other non-cash adjustments, including currency	589
Balance at December 31, 2015	$	33,148