XML 31 R28.htm IDEA: XBRL DOCUMENT v3.3.0.814
Accrued Liabilities (Tables)
9 Months Ended
Sep. 25, 2015
Schedule of Accrued Liabilities [Table Text Block]
Accrued liabilities in the Condensed Consolidated Balance Sheets consisted of the following:

 
September 25, 2015
 
December 31, 2014(1)
 
(In thousands)
Accrued payroll
$
128,700

 
$
120,068

Advance payments from customers
50,577

 
58,049

Accrued taxes and deferred tax liability - current portion
49,037

 
58,823

Accrued asbestos-related liability
51,539

 
50,175

Warranty liability - current portion
40,531

 
47,966

Accrued restructuring liability - current portion
11,549

 
21,846

Accrued third-party commissions
10,535

 
11,026

Other
111,131

 
128,254

Accrued liabilities
$
453,599

 
$
496,207


 
(1) During the nine months ended September 25, 2015 the Company retrospectively adjusted provisional amounts with respect to an acquisition completed during the three months ended June 27, 2014 to reflect new information obtained about facts and circumstances that existed as of the acquisition date that, if known, would have affected the measurement of the amounts recognized as of that date. See Note 3, "Acquisitions" for further discussion regarding these adjustments.
Schedule of Product Warranty Liability [Table Text Block]
The activity in the Company's warranty liability consisted of the following:
 
Nine Months Ended
 
September 25, 2015
 
September 26, 2014
 
(In thousands)
Warranty liability, beginning of period
$
51,135

 
$
65,512

Accrued warranty expense
14,392

 
14,814

Changes in estimates related to pre-existing warranties
(2,467
)
 
(4,612
)
Cost of warranty service work performed
(18,657
)
 
(20,111
)
Acquisition
321

 
4,488

Foreign exchange translation effect
(3,142
)
 
(6,781
)
Warranty liability, end of period
$
41,582

 
$
53,310


Schedule of Restructuring Reserve by Type of Cost [Table Text Block]
A summary of the activity in the Company's restructuring liability included in Accrued liabilities and Other liabilities in the Condensed Consolidated Balance Sheets is as follows:

 
Nine Months Ended September 25, 2015
 
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)
$
7,551

 
$
6,172

 
$
(10,900
)
 
$
(452
)
 
$
2,371

Facility closure costs(2)
1,445

 
3,472

 
(2,951
)
 
(161
)
 
1,805

 
8,996

 
9,644

 
(13,851
)
 
(613
)
 
4,176

   Non-cash impairment
 
 
1,918

 
 
 
 
 
 
 
 
 
11,562

 
 
 
 
 
 
Fabrication Technology:
 
 
 
 
 
 
 
 
 
Termination benefits(1)
11,155

 
8,604

 
(12,502
)
 
(323
)
 
6,934

Facility closure costs(2)
1,937

 
5,492

 
(6,424
)
 
(166
)
 
839

 
13,092

 
14,096

 
(18,926
)
 
(489
)
 
7,773

Corporate and Other:
 
 
 
 
 
 
 
 
 
Facility closure costs(2)
922

 

 
(184
)
 
(25
)
 
713

 
922

 

 
(184
)
 
(25
)
 
713

 
$
23,010

 
23,740

 
$
(32,961
)
 
$
(1,127
)
 
$
12,662

   Non-cash impairment
 
 
1,918

 
 
 
 
 
 
 
 
 
$
25,658

 
 
 
 
 
 
 
(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 September 25, 2015, $11.5 million and $1.2 million of the Company's restructuring liability was included in Accrued liabilities and Other liabilities, respectively.