Restructuring Activities

9 Months Ended

Sep. 30, 2012

Restructuring and Related Activities Disclosure [Text Block]

10. Restructuring Activities

The following table details restructuring charges incurred by segment for the periods presented:



	Three Months Ended September 30,					Nine Months Ended September 30,
	2012			2011		2012		2011
Communication Technologies	$	928		$	669	$	2,586	$	1,820
Energy	55			741		550		2,538
Engineered Systems	3,190			1,093		4,616		2,485
Printing & Identification	(90		)	610		5,898		(217		)
Total	$	4,083		$	3,113	$	13,650	$	6,626

These amounts are classified in the Unaudited Condensed Consolidated Statements of Comprehensive Earnings as follows:

Cost of goods and services	$	1,473		$	1,278	$	2,702	$	2,520
Selling and administrative expenses	2,610			1,835		10,948		4,106
Total	$	4,083		$	3,113	$	13,650	$	6,626

The restructuring expenses incurred in the three and nine months ended September 30, 2012 relate primarily to programs initiated in 2012, principally a few targeted facility consolidations and headcount reductions intended to better align the Company's operations with current market conditions. The Company expects to incur additional restructuring expenses of approximately $8,000 in the fourth quarter of 2012 relating to these programs, which are expected to conclude in 2012 into early 2013, coupled with new programs to be initiated to optimize operations relating to recent acquisitions and further reduce headcount.

Restructuring expenses incurred in the three and nine months ended September 30, 2011 also included targeted facility consolidations at certain businesses. These programs were substantially complete by the end of 2011 and the related expenses were not significant.

The following table details the Company’s severance and other restructuring accrual activity:



	Severance			Exit			Total
Balance at December 31, 2011	$	2,463		$	3,129		$	5,592
Restructuring charges	10,463			3,187			13,650
Payments	(8,465		)	(3,332		)	(11,797		)
Other, including foreign currency	7			83			90
Balance at September 30, 2012	$	4,468		$	3,067		$	7,535

The accrual balance at December 31, 2011 primarily reflects ongoing lease commitment obligations for facilities closed in earlier periods.

- 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+ Details