Restructuring

6 Months Ended

Jun. 30, 2020

Restructuring and Related Activities [Abstract]

Restructuring

RestructuringDuring the year ended December 31, 2019 and the three months ended June 30, 2020, the Company recorded accruals for restructuring costs incurred to facilitate long-term, sustainable growth through cost reduction actions, consisting of employee reductions and facility rationalization. Restructuring costs include severance benefits, exit costs and asset impairment charges and are included in Restructuring expenses in the Condensed Consolidated Statements of Operations. Severance costs primarily

consist of severance benefits through payroll continuation, COBRA subsidies, outplacement services, conditional separation costs and employer tax liabilities, while exit costs primarily consist of lease exit and contract termination costs.

Pre-tax restructuring expenses by segment for the three and six months ended June 30, 2020 were as follows:

	Severance Costs		Exit Costs		Asset Impairment		Total
Fluid & Metering Technologies	$	1,848	$	—	$	—	$	1,848
Health & Science Technologies	1,184		—		—		1,184
Fire & Safety/Diversified Products	641		—		—		641
Corporate/Other	168		—		—		168
Total restructuring costs	$	3,841	$	—	$	—	$	3,841

Restructuring accruals of $4.5 million and $6.1 million at June 30, 2020 and December 31, 2019, respectively, are reflected 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 six months ended June 30, 2020 are as follows:

	Restructuring
Balance at January 1, 2020	$	6,110
Restructuring expenses	3,841
Payments, utilization and other	(5,499)
Balance at June 30, 2020	$	4,452