Restructuring

9 Months Ended

Sep. 30, 2019

Restructuring and Related Activities [Abstract]

During the year ended December 31, 2018 and the three and nine months ended September 30, 2019, the Company recorded accruals for restructuring costs incurred as part of restructuring initiatives that supported the implementation of key strategic efforts designed to facilitate long-term, sustainable growth through cost reduction actions, consisting of employee reductions and facility rationalization. The restructuring costs included severance benefits, exit costs and asset impairments which were included in Restructuring expenses in the Condensed Consolidated Statements of Operations. Severance costs primarily consisted of severance benefits through payroll continuation, COBRA subsidies, outplacement services, conditional separation costs and employer tax liabilities, while exit costs primarily consisted of lease exit and contract termination costs.

In the second quarter of 2019, the Company began to evaluate strategic alternatives for one of its businesses in the HST segment. Prior to making a final decision on the options that were presented for this business, the business was informed in the third quarter of 2019 of the loss of its largest customer. As a result, the Company accelerated its restructuring activities for this business and a decision was made to wind down the business over time. This event required an interim impairment test be performed on the long-lived tangible and intangible assets of the business, which resulted in an impairment charge of $9.7 million, consisting of $6.1 million related to a customer relationships intangible asset, $1.0 million related to an unpatented technology intangible asset, $2.0 million related to property, plant and equipment and $0.6 million related to a building right-of-use asset. This charge was recorded as Restructuring expense in the Condensed Consolidated Statements of Operations.

Pre-tax restructuring expenses by segment for the three and nine months ended September 30, 2019 were as follows:



	Three Months Ended September 30, 2019
	Severance Costs		Exit Costs		Asset Impairment		Total
Fluid & Metering Technologies	$	—	$	—	$	—	$	—
Health & Science Technologies	1,164		352		9,680		11,196
Fire & Safety/Diversified Products	104		—		—		104
Corporate/Other	656		—		—		656
Total restructuring costs	$	1,924	$	352	$	9,680	$	11,956



	Nine Months Ended September 30, 2019
	Severance Costs		Exit Costs		Asset Impairment		Total
Fluid & Metering Technologies	$	930	$	—	$	—	$	930
Health & Science Technologies	1,210		636		9,680		11,526
Fire & Safety/Diversified Products	923		—		—		923
Corporate/Other	703		—		—		703
Total restructuring costs	$	3,766	$	636	$	9,680	$	14,082

Restructuring accruals of $3.3 million and $6.2 million at September 30, 2019 and December 31, 2018, respectively, are recorded in Accrued expenses on the Condensed Consolidated Balance Sheets. Severance benefits are expected to be paid by the end of the year using cash from operations. The changes in the restructuring accrual for the nine months ended September 30, 2019 are as follows:



	Restructuring
Balance at January 1, 2019	$	6,170
Restructuring expenses	4,402
Payments, utilization and other	(7,292		)
Balance at September 30, 2019	$	3,280