Realignment Programs (Tables)

3 Months Ended

Mar. 31, 2016

Restructuring and Related Activities [Abstract]

Restructuring and Related Costs [Table Text Block]

The following is a summary of total charges, net of adjustments, related to the Realignment Programs:

	Three Months Ended March 31, 2016
(Amounts in thousands)	Engineered Product Division			Industrial Product Division			Flow Control Division		Subtotal–Reportable Segments		Eliminations and All Other		Consolidated Total
Restructuring Charges
COS	$	1,520		$	(184	)	$	108	$	1,444	$	—	$	1,444
SG&A	2,407			1,712			159		4,278		—		4,278
Income tax expense	—			—			—		—		—		—
	$	3,927		$	1,528		$	267	$	5,722	$	—	$	5,722
Non-Restructuring Charges
COS	$	99		$	1,793		$	3,860	$	5,752	$	15	$	5,767
SG&A	(221		)	608			1,464		1,851		131		1,982
	$	(122	)	$	2,401		$	5,324	$	7,603	$	146	$	7,749
Total Realignment Charges
COS	$	1,619		$	1,609		$	3,968	$	7,196	$	15	$	7,211
SG&A	2,186			2,320			1,623		6,129		131		6,260
Income tax expense	—			—			—		—		—		—
	$	3,805		$	3,929		$	5,591	$	13,325	$	146	$	13,471

	Three Months Ended March 31, 2015
(Amounts in thousands)	Engineered Product Division		Industrial Product Division		Flow Control Division			Subtotal–Reportable Segments		Eliminations and All Other		Consolidated Total
Restructuring Charges
COS	$	9	$	13,159	$	—		$	13,168	$	—	$	13,168
SG&A	—		7,484		(26		)	7,458		—		7,458
Income tax expense	—		5,000		—			5,000		—		5,000
	$	9	$	25,643	$	(26	)	$	25,626	$	—	$	25,626
Non-Restructuring Charges
COS	$	6	$	—	$	—		$	6	$	—	$	6
SG&A	632		—		—			632		—		632
	$	638	$	—	$	—		$	638	$	—	$	638
Total Realignment Charges
COS	$	15	$	13,159	$	—		$	13,174	$	—	$	13,174
SG&A	632		7,484		(26		)	8,090		—		8,090
Income tax expense	—		5,000		—			5,000		—		5,000
	$	647	$	25,643	$	(26	)	$	26,264	$	—	$	26,264

The following is a summary of total inception to date charges, net of adjustments, related to the Realignment Programs:

(Amounts in thousands)	Engineered Product Division		Industrial Product Division (1)		Flow Control Division		Subtotal–Reportable Segments		Eliminations and All Other		Consolidated Total
Restructuring Charges
COS	$	11,483	$	20,262	$	9,409	$	41,154	$	—	$	41,154
SG&A	9,882		10,971		7,770		28,623		—		28,623
Income tax expense	—		8,900		—		8,900		—		8,900
	$	21,365	$	40,133	$	17,179	$	78,677	$	—	$	78,677
Non-Restructuring Charges
COS	$	10,365	$	9,954	$	12,443	$	32,762	$	15	$	32,777
SG&A	6,310		6,756		4,877		17,943		131		18,074
	$	16,675	$	16,710	$	17,320	$	50,705	$	146	$	50,851
Total Realignment Charges
COS	$	21,848	$	30,216	$	21,852	$	73,916	$	15	$	73,931
SG&A	16,192		17,727		12,647		46,566		131		46,697
Income tax expense	—		8,900		—		8,900		—		8,900
	$	38,040	$	56,843	$	34,499	$	129,382	$	146	$	129,528

_______________________________

(1) Includes $36.7 million of restructuring charges, primarily COS, related to the R1 Realignment Program.

The following is a summary of restructuring charges, net of adjustments, for the Realignment Programs:

	Three Months Ended March 31, 2016
(Amounts in thousands)	Severance		Contract Termination		Asset Write-Downs		Other		Total
COS	$	63	$	—	$	918	$	463	$	1,444
SG&A	3,754		—		36		488		4,278
Income tax expense	—		—		—		—		—
Total	$	3,817	$	—	$	954	$	951	$	5,722

	Three Months Ended March 31, 2015
(Amounts in thousands)	Severance		Contract Termination		Asset Write-Downs		Other		Total
COS	$	13,168	$	—	$	—	$	—	$	13,168
SG&A	7,458		—		—		—		7,458
Income tax expense	—		—		—		5,000		5,000
Total	$	20,626	$	—	$	—	$	5,000	$	25,626

The following is a summary of total inception to date restructuring charges, net of adjustments, related to the Realignment Programs:

(Amounts in thousands)	Severance		Contract Termination		Asset Write-Downs		Other		Total (1)
COS(1)	$	37,402	$	424	$	2,682	$	646	$	41,154
SG&A	27,341		43		69		1,170		28,623
Income tax expense	—		—		—		8,900		8,900
Total	$	64,743	$	467	$	2,751	$	10,716	$	78,677

_______________________________

(1) Includes $36.7 million of restructuring charges, primarily COS, related to the R1 Realignment Program.

Schedule of Restructuring Reserve by Type of Cost [Table Text Block]

The following represents the activity, primarily severance, related to the restructuring reserve for the Realignment Programs:

(Amounts in thousands)	R1 Realignment Program			R2 Realignment Program			Total
Balance at December 31, 2015	$	25,156		$	33,147		$	58,303
Charges	976			3,792			4,768
Cash expenditures	(1,294		)	(3,999		)	(5,293		)
Other non-cash adjustments, including currency	(877		)	(1,162		)	(2,039		)
Balance at March 31, 2016	$	23,961		$	31,778		$	55,739