Restructuring Activities

6 Months Ended

Jun. 30, 2014

Restructuring [Abstract]

Restructuring and Related Activities Disclosure

8. Restructuring Activities

The following table details restructuring charges incurred by segment for the periods presented:

	Three Months Ended June 30,					Six Months Ended June 30,
	2014			2013		2014		2013
Energy	$	1,419		$	1,126	$	1,490	$	1,126
Engineered Systems	1,291			1,016		3,211		692
Fluids	(367		)	116		538		326
Refrigeration & Food Equipment	10			1,713		10		3,865
Corporate	648			—		1,157		—
Total	$	3,001		$	3,971	$	6,406	$	6,009
These amounts are classified in the unaudited Condensed Consolidated Statements of Earnings as follows:
Cost of goods and services	$	1,917		$	3,188	$	2,769	$	4,998
Selling and administrative expenses	1,084			783		3,637		1,011
Total	$	3,001		$	3,971	$	6,406	$	6,009

The restructuring expenses of $3,001 and $6,406 incurred in the three and six months ended June 30, 2014, respectively, related to restructuring programs initiated during 2014 and 2013. These programs are designed to better align the Company's operations with current market conditions through targeted facility consolidations, headcount reductions and other measures to further optimize operations. The Company currently expects full-year 2014 restructuring expenses of approximately $10.0 million to $20.0 million related to these programs. We expect the programs currently underway to be substantially completed in the next twelve to eighteen months.

The $3,001 of restructuring charges incurred during the second quarter of 2014 included the following items:

• The Energy segment incurred restructuring charges of $1,419 related principally to a facility consolidation in its businesses serving the compression markets.

• The Engineered Systems segment recorded $1,291 of restructuring charges relating to facility consolidations within the Industrials platform, as well as actions taken to optimize costs related to research and engineering and administrative functions within the Printing & Identification platform.

• Corporate restructuring charges of $648 resulted from the Company's decision to realign its businesses into a new segment structure in the first quarter of 2014 following the spin-off of Knowles. Nonrecurring charges related to this realignment, primarily severance expense, are not expected to be significant in total.

The following table details the Company’s severance and other restructuring accrual activity:

	Severance			Exit			Total
Balance at December 31, 2013	$	2,918		$	2,466		$	5,384
Restructuring charges	2,179			4,226			6,405
Payments	(3,448		)	(4,465		)	(7,913		)
Other, including foreign currency	(50		)	(140		)	(190		)
Balance at June 30, 2014	$	1,599		$	2,087		$	3,686

The accrual balance at June 30, 2014 primarily reflects restructuring plans initiated during the year, as well as ongoing lease commitment obligations for facilities closed in earlier periods.