Subsequent Events (Notes)

3 Months Ended

Mar. 31, 2017

Subsequent Events [Abstract]

Subsequent Events [Text Block]

Subsequent Event

On March 31, 2017, we signed a conditional sale and purchase agreement to sell our Flow Control Division's ("FCD") Gestra AG ("Gestra") business to a leading provider of steam system solutions for €186 million. The sale will include Gestra’s manufacturing facility in Germany as well as related operations in the U.S., the United Kingdom ("U.K."), Spain, Poland, Italy, Singapore and Portugal. In 2016, Gestra recorded revenues of approximately €92 million with earnings before interest and taxes of approximately €15 million. We believe the transaction will be completed in May 2017. Although the timing of the completed transaction and the balance sheet at the closing date will determine the exact amount, we currently estimate a gain on the sale in excess of €40 million.