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Realignment and Transformation Programs (Tables)
 12 Months Ended
Dec. 31, 2024
Restructuring and Related Activities [Abstract]  
Restructuring and Related Costs
December 31, 2024
 (Amounts in thousands)FPDFCDSubtotal–Reportable Segments All OtherConsolidated Total
Restructuring Charges
     COS $24,113 $(1,364)$22,749 $— $22,749 
     SG&A1,306 2,599 3,905 (28)3,877 
     Loss on sale of business(1)
— 12,981 12,981 — 12,981 
$25,419 $14,216 $39,635 $(28)$39,607 
Non-Restructuring Charges   
     COS$6,614 $2,440 $9,054 $(228)$8,826 
     SG&A(228)497 269 794 1,063 
$6,386 $2,937 $9,323 $566 $9,889 
Total Realignment Charges
     COS $30,727 $1,076 $31,803 $(228)$31,575 
     SG&A1,078 3,096 4,174 766 4,940 
     Loss on sale of business(1)— 12,981 12,981 — 12,981 
Total$31,805 $17,153 $48,958 $538 $49,496 
__________________________________
(1) Loss on sale of business related to NAF AB control valves business as described within Note 1, "Significant Accounting Policies and Accounting Developments," to our consolidated financial statements included in this Annual Report.
December 31, 2023
 (Amounts in thousands)FPDFCDSubtotal–Reportable SegmentsAll OtherConsolidated Total
Restructuring Charges
     COS $2,962 $6,405 $9,367 $66 $9,433 
     SG&A50 9,777 9,827 — 9,827 
$3,012 $16,182 $19,194 $66 $19,260 
Non-Restructuring Charges   
     COS$7,835 $4,171 $12,006 $(427)$11,579 
     SG&A14,483 1,616 16,099 19,099 35,198 
$22,318 $5,787 $28,105 $18,672 $46,777 
Total Realignment Charges
     COS $10,797 $10,576 $21,373 $(361)$21,012 
     SG&A14,533 11,393 25,926 19,099 45,025 
Total$25,330 $21,969 $47,299 $18,738 $66,037 
The following is a summary of total charges, net of adjustments, incurred related to our 2020 Realignment Program:

December 31, 2022
 (Amounts in thousands)FPDFCDSubtotal–Reportable SegmentsAll OtherConsolidated Total
Restructuring Charges
     COS $768 $93 $861 $— $861 
     SG&A— (4)(4)— (4)
$768 $89 $857 $— $857 
Non-Restructuring Charges   
     COS$(530)$86 $(444)$(61)$(505)
     SG&A148 (391)(243)(274)(517)
$(382)$(305)$(687)$(335)$(1,022)
Total Realignment Charges
     COS $238 $179 $417 $(61)$356 
     SG&A148 (395)(247)(274)(521)
Total$386 $(216)$170 $(335)$(165)
    
The following is a summary of total inception to date charges, net of adjustments, related to the 2023 Realignment Programs:
Inception to Date
 (Amounts in thousands)FPDFCDSubtotal–Reportable SegmentsAll OtherConsolidated Total
Restructuring Charges
     COS $27,076 $5,041 $32,117 66 $32,183 
     SG&A1,355 12,376 $13,731 (28)13,703 
     Loss on sale of business(1)
— 12,981 $12,981 — 12,981 
$28,431 $30,398 $58,829 $38 $58,867 
Non-Restructuring Charges  
     COS $11,506 $6,612 $18,118 $(655)$17,463 
     SG&A14,256 2,112 16,368 19,893 36,261 
$25,762 $8,724 $34,486 $19,238 $53,724 
Total Realignment Charges
     COS $38,582 $11,653 $50,235 $(589)$49,646 
     SG&A15,611 14,488 30,099 19,865 49,964 
     Loss on sale of business(1)
— 12,981 12,981 — 12,981 
Total$54,193 $39,122 $93,315 $19,276 $112,591 
__________________________________
(1) Loss on sale of business related to NAF AB control valves business as described within Note 1, "Significant Accounting Policies and Accounting Developments," to our consolidated financial statements included in this Annual Report.
The following is a summary of total inception to date charges, net of adjustments, related to the CORE Realignment Program:
Inception to Date
 (Amounts in thousands)FPDFCDSubtotal–Reportable SegmentsAll OtherConsolidated Total
Restructuring Charges
     COS $— $— $— $— $— 
     SG&A— — — — — 
$— $— $— $— $— 
Non-Restructuring Charges  
     COS $2,942 $— $2,942 $— $2,942 
     SG&A— — — — — 
$2,942 $— $2,942 $— $2,942 
Total Realignment Charges
     COS $2,942 $— $2,942 $— $2,942 
     SG&A— — — — — 
Total$2,942 $— $2,942 $— $2,942 
Restructuring charges represent costs associated with the relocation or reorganization of certain business activities and facility closures and include costs related to employee severance at closed facilities, contract termination costs, asset write-downs and other costs. Severance costs primarily include costs associated with involuntary termination benefits. Contract termination costs include costs related to the termination of operating leases or other contract termination costs. Asset write-downs include accelerated depreciation or impairment of fixed assets, accelerated amortization or impairment of intangible assets, divestiture of certain non-strategic assets and inventory write-downs. Other costs generally include costs related to employee relocation, asset relocation, vacant facility costs (i.e., taxes and insurance) and other charges. Restructuring charges include charges related to approved, but not yet announced, facility closures.
The following is a summary of restructuring charges, net of adjustments, for our restructuring activities related to our 2023 Realignment Programs:
December 31, 2024
 (Amounts in thousands)SeveranceContract TerminationAsset Write-DownsOtherTotal
     COS $7,078 $— $12,861 $2,809 $22,748 
     SG&A158 — 3,750 (30)3,878 
     Loss on sale of business(1)— — — 12,981 12,981 
Total$7,236 $— $16,611 $15,760 $39,607 
__________________________________
(1) Loss on sale of business related to NAF AB control valves business as described within Note 1, "Significant Accounting Policies and Accounting Developments," to our consolidated financial statements included in this Annual Report.
December 31, 2023
 (Amounts in thousands)SeveranceContract TerminationAsset Write-DownsOtherTotal
     COS $7,085 $301 $794 $1,253 $9,433 
     SG&A950 — 8,871 6 9,827 
Total$8,035 $301 $9,665 $1,259 $19,260 

The following is a summary of restructuring charges, net of adjustments, for our restructuring activities related to our 2020 Realignment Program:
December 31, 2022
 (Amounts in thousands)SeveranceContract TerminationAsset Write-DownsOtherTotal
     COS $122 $327 $273 $139 $861 
     SG&A(4)— — — (4)
Total$118 $327 $273 $139 $857 

The following is a summary of total inception to date restructuring charges, net of adjustments, related to our 2023 Realignment Programs:
Inception to Date
 (Amounts in thousands)SeveranceContract TerminationAsset Write-DownsOtherTotal
     COS$14,164 $301 $13,655 $4,063 $32,183 
     SG&A1,106 — 12,621 (24)13,703 
     Loss on sale of business(1)
— — — 12,981 12,981 
Total$15,270 $301 $26,276 $17,020 $58,867 
__________________________________
(1) Loss on sale of business related to NAF AB control valves business as described within Note 1, "Significant Accounting Policies and Accounting Developments," to our consolidated financial statements included in this Annual Report.
There are no restructuring charges related to our CORE Realignment Program.
Schedule of Restructuring Reserve by Type of Cost
The following represents the activity, primarily severance charges from reductions in workforce, related to the restructuring reserve for the 2023 Realignment Programs for the years ended December 31, 2024 and 2023:
(Amounts in thousands)20242023
Balance at January 1,$8,184 $965 
Charges10,129 9,594 
Cash expenditures(8,050)(2,110)
Other non-cash adjustments, including currency(1,963)(265)
Balance at December 31,$8,300 $8,184