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Restructuring | 6 Months Ended
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Jun. 30, 2011
Restructuring |
Restructuring |
2. | Restructuring
The Company has recorded restructuring costs as a result of cost reduction efforts and facility closings. Accruals have been recorded based on these costs and primarily consist of employee termination benefits. We record expenses for employee termination benefits based on the guidance of Accounting Standards Codification ("ASC") 420, "Exit or Disposal Cost Obligations." These expenses were included in Restructuring expenses in the Consolidated Statements of Operations while the related restructuring accruals are included in Accrued expenses in the Consolidated Balance Sheets. During the three and six months ended June 30, 2010, the Company recorded $1.0 million and $2.9 million, respectively, of pre-tax restructuring expenses related to its 2009 restructuring initiative for employee severance related to employee reductions across various functional areas as well as facility closures resulting from the Company's cost savings initiatives. Pre-tax restructuring expenses, by segment, for the three months ended June 30, 2010 were as follows:
|  | Severance Costs |  |  | Exit Costs |  |  | Total |
|  | (in thousands) |
Fluid & Metering Technologies |  | $ | 360 |  |  | $ | 184 |  |  | $ | 544 |
Health & Science Technologies |  |  | 337 |  |  |  | — |  |  |  | 337 |
Dispensing Equipment |  |  | 5 |  |  |  | — |  |  |  | 5 |
Fire & Safety/Diversified Products |  |  | 125 |  |  |  | — |  |  |  | 125 |
Corporate office and other |  |  | — |  |  |  | 20 |  |  |  | 20 |
Total restructuring costs |  | $ | 827 |  |  | $ | 204 |  |  | $ | 1,031 |
Pre-tax restructuring expenses, by segment, for the six months ended June 30, 2010 were as follows:
|  | Severance Costs |  |  | Exit Costs |  |  | Total |
|  | (in thousands) |
Fluid & Metering Technologies |  | $ | 711 |  |  | $ | 202 |  |  | $ | 913 |
Health & Science Technologies |  |  | 846 |  |  |  | 54 |  |  |  | 900 |
Dispensing Equipment |  |  | 120 |  |  |  | — |  |  |  | 120 |
Fire & Safety/Diversified Products |  |  | 477 |  |  |  | — |  |  |  | 477 |
Corporate office and other |  |  | 396 |  |  |  | 92 |  |  |  | 488 |
Total restructuring costs |  | $ | 2,550 |  |  | $ | 348 |  |  | $ | 2,898 |
Restructuring accruals of $1.0 million and $3.5 million as of June 30, 2011 and December 31, 2010, respectively, are reflected in Accrued expenses in the Consolidated Balance Sheets as follows:
|  | (In thousands) |
Balance at January 1, 2011 |  | $ | 3,543 |
Payments/Utilization |  |  | (2,502 | )
Balance at June 30, 2011 |  | $ | 1,041 |
The remainder of the restructuring accrual is expected to be paid by the end of 2011.

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- Definition Description of restructuring activities including exit and disposal activities, which should 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. This description does not include restructuring costs in connection with a business combination or discontinued operations and long-lived assets (disposal groups) sold or classified as held for sale. This element may be used as a single block of text to encapsulate the entire disclosure including data and tables. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 146 -Paragraph 20 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 5 -Section P -Subsection 3, 4 + Details
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