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SPECIAL CHARGES

6 Months Ended

Jun. 30, 2012

SPECIAL CHARGES

SPECIAL CHARGES

(5) SPECIAL CHARGES

Special charges, net, for the three and six months ended June 30, 2012 and July 2, 2011 are summarized and described in more detail below:

		Three months ended						Six months ended
		June 30,			July 2,			June 30,			July 2,
		2012			2011			2012			2011
Flow Technology reportable segment		$	5.9		$	2.2		$	7.2		$	3.8
Thermal Equipment and Services reportable segment		2.2			1.0			2.4			1.8
Industrial Products and Services		(0.1		)	0.8			—			0.8
Corporate		0.4			0.2			1.2			0.2
Total		$	8.4		$	4.2		$	10.8		$	6.6

Flow Technology reportable segment — Charges for the three and six months ended June 30, 2012 related primarily to costs associated with the initial integration of Clyde Union, costs related to the reorganization of the segment’s systems business, charges related to a cost reduction initiative at a location in Denmark and asset impairment charges of $0.3. Charges for the three and six months ended July 2, 2011 related primarily to the integration of Anhydro and Gerstenberg, the reorganization of the segment’s systems business, the transition of certain European back-office positions to the shared service center in Manchester, United Kingdom, and additional costs associated with restructuring activities initiated in 2010.

Thermal Equipment and Services reportable segment — Charges for the three and six months ended June 30, 2012 related primarily to costs associated with restructuring initiatives at two locations in China, including asset impairment charges of $1.3, and severance costs associated with transferring certain functions of our boiler and heating products business to a location in Chicago, IL. Charges for the three and six months ended July 2, 2011 related primarily to costs associated with headcount reductions at facilities in Germany and Italy and lease exit costs associated with two facilities in Germany.

Industrial Products and Services — Charges for the three and six months ended July 2, 2011 related to an asset impairment charge of $0.8.

Corporate — Charges for the three and six months ended June 30, 2012 related primarily to costs associated with consolidating certain corporate functions, our legal entity reduction initiative, and an asset impairment charge of $0.2. Charges for the three and six months ended July 2, 2011 related primarily to our legal entity reduction initiative.

The following is an analysis of our restructuring and integration liabilities for the six months ended June 30, 2012 and July 2, 2011:

		Six months ended
		June 30,			July 2,
		2012			2011
Beginning balance		$	10.9		$	17.6
Special charges (1)		9.0			5.7
Utilization — cash		(11.7		)	(13.2		)
Currency translation adjustment and other		0.1			1.0
Ending balance		$	8.3		$	11.1

(1) The six months ended June 30, 2012 and July 2, 2011 exclude $1.8 and $0.9, respectively, of non-cash special charges that did not impact the restructuring and integration related liabilities.

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- Definition

The entire disclosure for aggregate costs incurred during the period for restructuring, remediation, implementation, integration and asset impairment activities. Description of restructuring activities such as exit and disposal activities, could 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 would also include disclosure of the charge against earnings resulting from the aggregate write down of all assets from their carrying value to their fair value.

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