FACILITIES RELOCATION AND RESTRUCTURING

12 Months Ended

Dec. 31, 2011

Facilities Relocation And Restructuring [Abstract]

10. FACILITIES RELOCATION AND RESTRUCTURING

In connection with the acquisitions of VMETRO and Mechetronics in 2008, the Corporation established a restructuring accrual of $7.6 million that was recorded against goodwill in accordance with the guidance on Business Combinations. These acquisitions are consolidated into the Motion Control segment. The accrual was established as of December 31, 2008 for $7.1 million. Based upon further analysis of the restructuring activities an additional $0.5 million was recorded in 2009. The restructuring accrual consisted of costs to exit the activities of certain facilities, including lease cancellation costs and external legal and consulting fees, as well as costs to relocate or involuntarily terminate certain employees of the acquired business. As of December 31, 2010, the Corporation completed its actions under the VMETRO and Mechetronics restructuring plans.

During 2009, the Corporation committed to a plan to restructure existing operations through a reduction in workforce and consolidation of operating locations both domestically and internationally. The decision was based on a review of various cost savings initiatives undertaken in connection with the development of the Corporation's budget and operating plan. This plan impacted all three of the Corporation's operating segments and resulted in costs incurred of $5.6 million. During 2010, the Corporation continued its restructuring initiatives and incurred an additional $3.0 million consisting of severance costs to involuntarily terminate certain employees; relocation costs; exit activities of certain facilities, including lease cancellation costs; and external legal and consulting fees. These costs were recorded in the Consolidated Statement of Earnings with the majority of the costs affecting the General and administrative expenses, Cost of sales, and Selling expenses for $1.7 million, $1.2 million, $0.1 million, respectively. The liability is included within Other current liabilities. As of December 31, 2011, the Corporation completed its actions under this restructuring plan.

A summary by segment of the components of facilities relocation and corporate restructuring charges for acquisitions and ongoing operations and an analysis of related activity in the accrual as of December 31, 2011 is as follows:

(In thousands)
Flow Control	Severance and Benefits		Facility Closing Costs		Relocation Costs		Total
December 31, 2009	$	57	$	-	$	-	$	57
Provisions		895		732		352		1,979
Payments		(900)		(522)		(352)		(1,774)
Adjustments		-		-		-		-
Net currency translation adjustment		-		-		-		-
December 31, 2010	$	52	$	210	$	-	$	262
Provisions		-		-		-		-
Payments		(52)		(210)		-		(262)
Adjustments		-		-		-		-
Net currency translation adjustment		-		-		-		-
December 31, 2011	$	-	$	-	$	-	$	-

Motion Control
December 31, 2009	$	1,545	$	1,080	$	125	$	2,750
Provisions		668		71		103		842
Payments		(1,714)		(621)		(228)		(2,563)
Adjustments		(358)		(497)		-		(855)
Net currency translation adjustment		(23)		(28)		-		(51)
December 31, 2010	$	118	$	5	$	-	$	123
Provisions		-		-		-		-
Payments		(118)		(5)		-		(123)
Adjustments		-		-		-		-
Net currency translation adjustment		-		-		-		-
December 31, 2011	$	-	$	-	$	-	$	-

Metal Treatment
December 31, 2009	$	-	$	-	$	-	$	-
Provisions		-		66		153		219
Payments		-		(66)		(153)		(219)
Adjustments		-		-		-		-
Net currency translation adjustment		-		-		-		-
December 31, 2010	$	-	$	-	$	-	$	-
Provisions		-		-		-		-
Payments		-		-		-		-
Adjustments		-		-		-		-
Net currency translation adjustment		-		-		-		-
December 31, 2011	$	-	$	-	$	-	$	-

Total Curtiss-Wright
December 31, 2009	$	1,602	$	1,080	$	125	$	2,807
Provisions		1,563		869		608		3,040
Payments		(2,614)		(1,209)		(733)		(4,556)
Adjustments		(358)		(497)		-		(855)
Net currency translation adjustment		(23)		(28)		-		(51)
December 31, 2010	$	170	$	215	$	-	$	385
Provisions		-		-		-		-
Payments		(170)		(215)		-		(385)
Adjustments		-		-		-		-
Net currency translation adjustment		-		-		-		-
December 31, 2011	$	-	$	-	$	-	$	-

Oil and Gas Restructuring Initiative

During the fourth quarter of 2010, the Corporation initiated a restructuring plan within its Oil and Gas division, of the Flow Control segment. The objective of this initiative was to streamline the division's workflow and consolidate existing facilities. In the fourth quarter of 2010 and during the year ended December 31, 2011, the Corporation recorded charges of $0.5 million and $0.2 million, respectively, related to severance and benefit costs as part of this initiative. These costs are recorded within General and administrative expenses in the Consolidated Statement of Earnings. As of December 30, 2011, substantially all payments have been made against the reserve.

The Corporation does not anticipate incurring any additional significant costs associated with this plan. However, the Corporation is currently evaluating additional restructuring activities within the Oil and Gas division. In addition, in 2012 we will continue to strategically identify potential facilities and personnel reductions as part of our ongoing efforts to streamline our workflow.

- 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.

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