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Restructuring | 6 Months Ended
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Jun. 30, 2012
Restructuring | 2. Restructuring During the second half of 2011 and into 2012, the Company recorded restructuring costs as a part of 2011 restructuring initiatives that support the implementation of key strategic efforts designed to facilitate long-term sustainable growth through cost reduction actions, primarily consisting of employee reductions and facility rationalization. The costs incurred related to these initiatives are included in Restructuring expenses in the Consolidated Statements of Operations while the restructuring accruals are included in Accrued expenses in the Consolidated Balance Sheets. During the three and six months ended June 30, 2012, the Company recorded $2.6 million and $7.5 million, respectively, of pre-tax restructuring expenses related to its 2011 restructuring initiative for employee severance related to employee reductions across various functional areas, the termination of a defined benefit pension plan as well as facility rationalization. The 2011 restructuring initiative included severance benefits for 292 employees in 2011 and 114 employees for the first six months of 2012. Pre-tax restructuring expenses, by segment, for the three months ended June 30, 2012, were as follows:
|  | Severance Costs |  |  | Exit Costs |  |  | Total |
|  | (In thousands) |
Fluid & Metering Technologies |  | $ | 309 |  |  | $ | 10 |  |  | $ | 319 |
Health & Science Technologies |  |  | 757 |  |  |  | 395 |  |  |  | 1,152 |
Fire & Safety/Diversified Products |  |  | 280 |  |  |  | 748 |  |  |  | 1,028 |
Corporate/Other |  |  | 82 |  |  |  | — |  |  |  | 82 |
Total restructuring costs |  | $ | 1,428 |  |  | $ | 1,153 |  |  | $ | 2,581 |
Pre-tax restructuring expenses, by segment, for the six months ended June 30, 2012, were as follows:
|  | Severance Costs |  |  | Exit Costs |  |  | Total |
|  | (In thousands) |
Fluid & Metering Technologies |  | $ | 2,968 |  |  | $ | 10 |  |  | $ | 2,978 |
Health & Science Technologies |  |  | 1,907 |  |  |  | 700 |  |  |  | 2,607 |
Fire & Safety/Diversified Products |  |  | 280 |  |  |  | 1,292 |  |  |  | 1,572 |
Corporate/Other |  |  | 163 |  |  |  | 199 |  |  |  | 362 |
Total restructuring costs |  | $ | 5,318 |  |  | $ | 2,201 |  |  | $ | 7,519 |
Restructuring accruals of $2.8 million and $5.9 million at June 30, 2012 and December 31, 2011, respectively, are reflected in Accrued expenses in the Consolidated Balance Sheets as follows:
(In thousands) |  |  |
Balance at January 1, 2012 |  | $ | 5,875 |
Restructuring expenses |  |  | 7,519 |
Payments/utilization |  |  | (10,640 | )
Balance at June 30, 2012 |  | $ | 2,754 |

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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 SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 5 -Section P -Subsection 3, 4 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 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 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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