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Restructuring
 6 Months Ended
Jun. 30, 2014
Restructuring and Related Activities [Abstract]  
Restructuring
Restructuring
2014 Repositioning Actions
The Company recorded pre-tax restructuring charges of $7.7 million in the first half of 2014, including $3.6 million related to the consolidation of a facility in the U.K in the Fluid Handling segment and $4.1 million associated with certain facility consolidation activities in the Aerospace & Electronics segment. These charges primarily included severance and move costs related to the transfer of certain manufacturing operations. The Company expects these repositioning actions to result in workforce reductions of approximately 180 employees, or about 2%, of the Company’s global workforce.
The following table summarizes the accrual balances related to these restructuring charges: 
(in thousands)
Balance at December 31, 2013
 
Expense
 
Utilization
 
Balance at June 30, 2014
Fluid Handling
 
 
 
 
 
 
 
Severance
$
—

 
$
3,406

 
$
(158
)
 
$
3,248

Other
—

 
211

 
(190
)
 
$
21

Total Fluid Handling
$
—


$
3,617


$
(348
)

$
3,269

 
 
 
 
 
 
 
 
Aerospace & Electronics
 
 
 
 
 
 
 
Severance
$
—

 
$
3,688

 
$
(1,691
)
 
$
1,997

Other
—

 
408

 
(218
)
 
190

Total Aerospace & Electronics
$
—


$
4,096


$
(1,909
)

$
2,187

Total Restructuring
$
—


$
7,713


$
(2,257
)

$
5,456


The Company expects to incur additional restructuring and related charges of approximately $5 million to complete these actions.
Acquisition Related Restructuring
In the first half of 2014, the Company recorded pre-tax restructuring charges of $5.6 million related to the December 2013 acquisition of MEI in the Company's Payment & Merchandising Technologies segment. The Company expects these 2014 actions to result in workforce reductions of approximately 60 employees, or less than 1% of the Company’s global workforce.
The following table summarizes the accrual balances related to these restructuring charges: 
(in thousands)
Balance at December 31, 2013
 
Expense
 
Utilization
 
Balance at June 30, 2014
Severance
$
—

 
$
5,457

 
$
(2,458
)
 
$
2,999

Other
—

 
160

 
(160
)
 
$
—

Payment & Merchandising Technologies
$
—

 
$
5,617

 
$
(2,618
)
 
$
2,999


The Company expects to incur additional restructuring and related charges of approximately $1 million to complete these actions.