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Accrued Liabilities
 12 Months Ended
Dec. 31, 2013
Accrued Liabilities [Abstract]  
Accrued Liabilities Disclosure [Text Block]
Accrued Liabilities

Accrued liabilities in the Consolidated Balance Sheets consisted of the following:

 
December 31, 2013
 
December 31, 2012
 
(In thousands)
Accrued payroll
$
136,645

 
$
99,583

Advance payment from customers
53,280

 
61,431

Accrued taxes and deferred tax liability - current portion
71,314

 
34,165

Accrued asbestos-related liability
51,142

 
58,501

Warranty liability - current portion
54,977

 
35,678

Accrued restructuring liability - current portion
12,856

 
25,406

Accrued third-party commissions
13,095

 
12,320

Other
91,952

 
120,136

Accrued liabilities
$
485,261

 
$
447,220



Accrued Restructuring Liability

The Company’s restructuring programs include a series of restructuring actions at its fluid-handling operations that began in 2009 and ongoing initiatives as a result of acquisitions, as well as efforts to reduce the structural costs and rationalize the corporate overhead of the combined businesses.

A summary of the activity in the Company’s restructuring liability included in Accrued liabilities and Other liabilities in the Consolidated Balance Sheets is as follows:

 
Year Ended December 31, 2013
 
Balance at Beginning of Period
 
Provisions
 
Payments
 
Foreign Currency Translation
 
Balance at End of Period(3)
 
(In thousands)
Restructuring and other related charges:
Gas and Fluid Handling:
 
 
 
 
 
 
 
 
 
Termination benefits(1)
$
3,060

 
$
9,413

 
$
(8,680
)
 
$
(155
)
 
$
3,638

Facility closure costs(2)
1,177

 
683

 
(1,137
)
 
33

 
756

Other related charges
—

 
333

 
(520
)
 
187

 
—

 
4,237

 
10,429

 
(10,337
)
 
65

 
4,394

Fabrication Technology:
 
 
 
 
 
 
 
 
 
Termination benefits(1)
14,637

 
22,775

 
(30,056
)
 
(323
)
 
7,033

Facility closure costs(2)
6,925

 
280

 
(5,736
)
 
(40
)
 
1,429

Other related charges
33

 
124

 
(432
)
 
275

 
—

 
21,595

 
23,179

 
(36,224
)
 
(88
)
 
8,462

   Non-cash impairment
 
 
1,894

 
 
 
 
 
 
 
 
 
25,073

 
 
 
 
 
 
Corporate and Other:
 
 
 
 
 
 
 
 
 
Facility closure costs(2)
1,522

 
—

 
(718
)
 
455

 
1,259

 
1,522

 
—

 
(718
)
 
455

 
1,259

 
$
27,354

 
33,608

 
$
(47,279
)
 
$
432

 
$
14,115

   Non-cash impairment
 
 
1,894

 
 
 
 
 
 
 
 
 
$
35,502

 
 
 
 
 
 
 
(1) Includes severance and other termination benefits, including outplacement services. The Company recognizes the cost of involuntary
termination benefits at the communication date or ratably over any remaining expected future service period. Voluntary termination benefits
are recognized as a liability and an expense when employees accept the offer and the amount can be reasonably estimated.
(2) Includes the cost of relocating associates, relocating equipment and lease termination expense in connection with the closure of facilities.
(3) As of December 31, 2013, $12.9 million and $1.2 million of the Company’s restructuring liability was included in Accrued liabilities and
Other liabilities, respectively.

 
Year Ended December 31, 2012
 
Balance at Beginning of Period
 
Acquisitions
 
Provisions
 
Payments
 
Foreign Currency Translation
 
Balance at End of Period(3)
 
(In thousands)
Restructuring and other related charges:
Gas and Fluid Handling:
 
 
 
 
 
 
 
 
 
 
 
Termination benefits(1)
$
3,868

 
$
—

 
$
7,062

 
$
(8,014
)
 
$
144

 
$
3,060

Facility closure costs(2)
633

 
—

 
1,301

 
(756
)
 
(1
)
 
1,177

Other related charges
72

 
—

 
289

 
(363
)
 
2

 
—

 
4,573

 
—

 
8,652

 
(9,133
)
 
145

 
4,237

Fabrication Technology:
 
 
 
 
 
 
 
 
 
 
 
Termination benefits(1)
—

 
6,276

 
30,292

 
(22,277
)
 
346

 
14,637

Facility closure costs(2)
—

 
3,994

 
10,584

 
(7,800
)
 
147

 
6,925

Other related charges
—

 
—

 
1,205

 
(1,174
)
 
2

 
33

 
—

 
10,270

 
42,081

 
(31,251
)
 
495

 
21,595

Non-cash impairment
 
 
 
 
3,155

 
 
 
 
 
 
 
 
 
 
 
45,236

 
 
 
 
 
 
Corporate and Other:
 
 
 
 
 
 
 
 
 
 
 
Termination benefits(1)
—

 
—

 
3,020

 
(3,020
)
 
—

 
—

Facility closure costs(2)
—

 
—

 
1,899

 
(415
)
 
38

 
1,522

Other related charges
—

 
—

 
1,253

 
(1,253
)
 
—

 
—

 
—

 
—

 
6,172

 
(4,688
)
 
38

 
1,522

 
$
4,573

 
$
10,270

 
56,905

 
$
(45,072
)
 
$
678

 
$
27,354

Non-cash impairment
 
 
 
 
3,155

 
 
 
 
 
 
 
 
 
 
 
$
60,060

 
 
 
 
 
 
 
(1) Includes severance and other termination benefits, including outplacement services. The Company recognizes the cost of involuntary
termination benefits at the communication date or ratably over any remaining expected future service period. Voluntary termination benefits
are recognized as a liability and an expense when employees accept the offer and the amount can be reasonably estimated.
(2) Includes the cost of relocating associates, relocating equipment and lease termination expense in connection with the closure of facilities.
(3) As of December 31, 2012, $25.4 million and $1.9 million of the Company’s restructuring liability was included in Accrued liabilities and
Other liabilities, respectively.

The Company expects to incur Restructuring and other related charges of approximately $50 million during the year ending December 31, 2014 related to these restructuring activities.