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RESTRUCTURING ACTIVITIES | 6 Months Ended
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Jun. 30, 2012
Restructuring Activities [Abstract] |
RESTRUCTURING ACTIVITIES | 9. RESTRUCTURING ACTIVITIES 2012 Restructuring Initiative The Corporation focuses on being the low-cost provider of its products by reducing operating costs and i mplementing lean manufacturing initiatives, which have in part led to the involuntary te rmination of certain positions and the consolidation of facilities and product lines. During the second quarter of 2012, the Corporation recorded restructuring costs by segment as follows:
|  |  | (In thousands) |
|  | Three Months Ended |
|  | June 30,2012 |
|  | Flow Control |  | Motion Control |  | Metal Treatment |  | Consolidated |
Cost of sales |  | $ | 1,105 |  | $ | 398 |  | $ | 394 |  | $ | 1,897 |
Selling expenses |  |  | 312 |  |  | - |  |  | - |  |  | 312 |
General and administrative |  |  | 842 |  |  | 86 |  |  | 4,847 |  |  | 5,775 |
Total |  | $ | 2,259 |  | $ | 484 |  | $ | 5,241 |  | $ | 7,984 |
During the first six months of 2012, the Corporation recorded restructuring costs by segment as follows:
|  |  | (In thousands) |
|  | Six Months Ended |
|  | June 30,2012 |
|  | Flow Control |  | Motion Control |  | Metal Treatment |  | Consolidated |
Cost of sales |  | $ | 1,285 |  | $ | 2,136 |  | $ | 394 |  | $ | 3,815 |
Selling expenses |  |  | 312 |  |  | - |  |  | - |  |  | 312 |
General and administrative |  |  | 1,137 |  |  | 922 |  |  | 4,847 |  |  | 6,906 |
Total |  | $ | 2,734 |  | $ | 3,058 |  | $ | 5,241 |  | $ | 11,033 |
The components of the restructuring costs by segment are as follows: Flow Control The Flow Control segment recorded $2.3 million of restructuring charges in the second quarter of 2012 primarily for severance and benefits costs associated with headcount reductions to streamline operations. T he segment recorded charges to C ost of sales of $1.1 million; charges to S elling expenses of $0.3 million; and charges to G eneral and administrative expenses of $0.8 million. In the first six months of 2012, the Flow Control segment recorded $2.7 million of restructuring charges primarily for severance and benefits costs associated with headcount reductions to streamline operations. T he segment recorded charges to C ost of sales of $1.3 million; charges to S elling expenses of $0.3 million; and charges to G eneral and administrative expenses of $1.1 million. The Corporation expects to incur additional restructuring charges of $2 million related to our 2012 restructuring activities within the Flow Control segment. Motion Control The Motion Control segment recorded $0.5 million of restructuring charges in the second quarter of 2012 primarily for severance and benefits costs associated with headcount reductions to streamline operations. T he segment recorded charges to C ost of sales of $0.4 million; and charges to G eneral and administrative expenses of $0.1 million. In the first six months of 2012, the Motion Control segment recorded $3.1 million of restructuring charges primarily for severance and benefits costs associated with headcount reductions to streamline operations. T he segment recorded charges to C ost of sales of $2.1 million; and charges to G eneral and administrative expenses of $0.9 million. The Corporation expects to incur additional restructuring charges of $1 million related to our 2012 restructuring activities within the Motion Control segment. Metal Treatment The Metal Treatment segment re corded $5.2 million of restructuring charges in the second quarter and first six months of 2012. The se gment recorded cash charges to C ost of sales of $0.4 million; and non-c ash charges of $4.8 million to G eneral and administrative expenses. The cash costs were primarily associated with severance and benefits costs related to headcount reductions, while the $4.8 million of non-cash costs were primarily related to fixed asset write-downs. The Corporation expects to incur additional restructuring charges of $7 million, primarily in the fourth quarter of 2012, related to additional restructuring activities within the Metal Treatment segment. The following table summarizes the cash components of the Corporation's restructuring plans. Accrued restructuring costs are included in Other current liabilities in the accompanying balance sheet.
|  |  | (In thousands) |
|  | Severance and Benefits |  | Abandonment of facility costs |  | Total |
December 31, 2011 |  | $ | - |  | $ | - |  | $ | - |
Provisions |  |  | 5,776 |  |  | 410 |  |  | 6,186 |
Payments |  |  | 3,451 |  |  | 31 |  |  | 3,482 |
June 30, 2012 |  | $ | 2,325 |  | $ | 379 |  | $ | 2,704 |
The Corporation expects to pay accrued cash restructuring costs primar ily over the remainder of 2012.

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- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 5.P.4) -URI http://asc.fasb.org/extlink&oid=6394695&loc=d3e140904-122747 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 146 -Paragraph 20 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 5 -Section P -Subsection 3, 4 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 5.P.3) -URI http://asc.fasb.org/extlink&oid=6394695&loc=d3e140864-122747 + Details
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