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Restructuring (Tables)
 3 Months Ended
Mar. 31, 2018
Restructuring and Related Activities [Abstract]  
Restructuring and Related Costs [Table Text Block]
The following table summarizes the restructuring charge by business segment:
 
Severance
 
Other
 
Total
(in millions)
Q1 2018
 
Cumulative
 
Q1 2018
 
Cumulative
 
Q1 2018
 
Cumulative
Fluid Handling
$
0.1

 
$
10.7

 
$
0.3

 
$
0.3

 
$
0.4

 
$
11.0

Payment & Merchandising Technologies
0.1

 
12.3

 
0.1

 
0.1

 
0.2

 
12.4

Aerospace & Electronics
—

 
1.3

 
0.2

 
0.2

 
0.2

 
1.5

 
$
0.2

 
$
24.3

 
$
0.6

 
$
0.6

 
$
0.8

 
$
24.9
Schedule of Restructuring Reserve by Type of Cost [Table Text Block]
To complete these actions, the Company expects to incur a total of $16.7 million of restructuring and facility consolidation related charges from 2018 to 2020 in each of the segments as follows:
(in millions)
2018
 
2019
 
2020
 
Total
Fluid Handling
$
5.5

 
$
4.6

 
$
1.6

 
$
11.7

Payment & Merchandising Technologies
4.5

 
(3.2
)
 
—

 
1.3

Aerospace & Electronics
0.6

 
3.1

 
—

 
3.7

 
$
10.6

 
$
4.5

 
$
1.6

 
$
16.7

The following table summarizes the expected costs by nature of costs and year:
(in millions)
2018
 
2019
 
2020
 
Total
Restructuring
$
3.3

 
$
(1.0
)
 
$
—

 
$
2.3

Facility consolidation
7.3

 
5.5

 
1.6

 
14.4

 
$
10.6

 
$
4.5

 
$
1.6

 
$
16.7

The Company expects recurring pre-tax savings subsequent to initiating all actions to approximate $30 million annually.
The following table summarizes the accrual balances related to these restructuring charges: 
(in millions)
Balance at December 31, 2017
 
Expense (1)
 
Utilization
 
Balance at March 31, 2018
Fluid Handling
 
 
 
 
 
 
 
Severance
$
10.6

 
$
0.1

 
$
(0.8
)
 
$
9.9

Other
—

 
0.3

 
(0.2
)
 
0.1

Total Fluid Handling
$
10.6

 
$
0.4

 
$
(1.0
)
 
$
10.0

 
 
 
 
 
 
 
 
Payment & Merchandising Technologies
 
 
 
 
 
 
 
Severance
$
12.2

 
$
0.1

 
$
(0.4
)
 
$
11.9

Other
—

 
0.1

 
(0.1
)
 
—

Total Payment & Merchandising Technologies
$
12.2

 
$
0.2

 
$
(0.5
)
 
$
11.9

 
 
 
 
 
 
 
 
Aerospace & Electronics
 
 
 
 
 
 
 
Severance
$
1.3

 
$
—

 
$
(0.3
)
 
$
1.0

Other
—

 
0.2

 
(0.2
)
 
—

Total Aerospace & Electronics
$
1.3

 
$
0.2

 
$
(0.5
)
 
$
1.0

Total Restructuring
$
24.1

 
$
0.8

 
$
(2.0
)
 
$
22.9

(1) Reflected in the Condensed Consolidated Statements of Operations as “Restructuring charges”