RESTRUCTURING AND OTHER CHARGES, NET

The following tables summarize the restructuring and other charges (“ROTC”) recorded for the three and nine months ended April 30, 2012 and April 30, 2011:



	Three Months Ended Apr 30, 2012									Nine Months Ended Apr 30, 2012
	Restructuring (1)			Other (Gains)/ Charges (2)			Total			Restructuring (1)			Other (Gains)/ Charges (2)			Total
Severance benefits and other employment contract obligations	$	953		$	2,604		$	3,557		$	29,255		$	11,436		$	40,691
Gain on sale of assets	—			(2,168		)	(2,168		)	(1,515		)	(11,364		)	(12,879		)
Professional fees, legal settlements and other costs, net of receipt of insurance claim payments	1,755			(252		)	1,503			3,121			145			3,266
Reversal of excess restructuring reserves	(31		)	—			(31		)	(77		)	—			(77		)
	$	2,677		$	184		$	2,861		$	30,784		$	217		$	31,001

Cash	$	2,677		$	(942	)	$	1,735		$	30,784		$	(3,446	)	$	27,338
Non-cash(a)	—			1,126			1,126			—			3,663			3,663
	$	2,677		$	184		$	2,861		$	30,784		$	217		$	31,001



	Three Months Ended Apr 30, 2011								Nine Months Ended Apr 30, 2011
	Restructuring (1)			Other (Gains)/ Charges (2)		Total			Restructuring (1)			Other (Gains)/ Charges (2)		Total
Severance benefits and other employment contract obligations	$	716		$	4,631	$	5,347		$	4,169		$	4,631	$	8,800
Professional fees and other costs, net of receipt of insurance claim payments	1,431			891		2,322			4,151			272		4,423
Environmental matters	—			59		59			—			709		709
Reversal of excess restructuring reserves	(5		)	—		(5		)	(11		)	—		(11		)
	$	2,142		$	5,581	$	7,723		$	8,309		$	5,612	$	13,921

Cash	$	2,142		$	3,241	$	5,383		$	8,309		$	3,272	$	11,581
Non-cash	—			2,340		2,340			—			2,340		2,340
	$	2,142		$	5,581	$	7,723		$	8,309		$	5,612	$	13,921

(a) Reflects non-cash stock based compensation expense.

(1) Restructuring:

Restructuring charges recorded in the three and nine months ended April 30, 2012 and April 30, 2011 reflect the expenses incurred in connection with the Company’s cost reduction initiatives.

Severance benefits recorded in the three and nine months ended April 30, 2012 primarily relate to global restructuring activities in the Industrial segment. The most significant restructuring activities include:


•	the realignment of sales and marketing management of certain of the Company’s markets,


•	the reorganization of the global management structure that supports the Company’s systems product line, and


•	shifting resources from mature country markets to emerging regions.

Restructuring charges/(income) in the nine months ended April 30, 2012 also includes a gain on the divestiture of a non-strategic asset group.

Severance benefits recorded in the three and nine months ended April 30, 2011 primarily relate to the closure of an Industrial manufacturing facility in Europe.

(2) Other (Gains) / Charges:

Employment contract obligations and other severance benefits:

In the three and nine months ended April 30, 2012, the Company recorded charges related to certain employment contract obligations.

Gain on sale of assets:

In the three months ended April 30, 2012 the Company recored a gain on sale of assets related to the sale of a building in Europe. The nine months ended April 30, 2012 also includes a gain of $9,196 on the sale of the Company’s investment in Satair A/S.

Professional fees and other costs:

In the three and nine months ended April 30, 2012 and April 30, 2011, the Company recorded legal and other professional fees related to the Federal Securities Class Actions, Shareholder Derivative Lawsuits and Other Proceedings (see Note 5, Contingencies and Commitments) which pertain to matters that had been under audit committee inquiry as discussed in Note 2, Audit Committee Inquiry and Restatement, to the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended July 31, 2007 (“2007 Form 10-K”). Furthermore, in the nine months ended April 30, 2012, the Company recorded costs related to the settlement of the Federal Securities Class Actions (see Note 5, Contingencies and Commitments). The receipt of insurance claim payments more than offset the costs discussed above in the three months ended April 30, 2012 and offset the majority of such costs in the nine months ended April 30, 2012 and April 30, 2011.

The following table summarizes the activity related to restructuring liabilities that were recorded in the nine months ended April 30, 2012 and in fiscal years 2011, 2010 and 2009.



	Severance			Other			Total
2012
Original charge	$	29,255		$	3,121		$	32,376
Utilized	(23,151		)	(2,121		)	(25,272		)
Translation	271			12			283
Balance at Apr 30, 2012	$	6,375		$	1,012		$	7,387



	Severance			Other			Total
2011
Original charge	$	4,863		$	5,507		$	10,370
Utilized	(1,817		)	(5,225		)	(7,042		)
Translation	272			68			340
Balance at Jul 31, 2011	$	3,318		$	350		$	3,668
Utilized	(3,199		)	(350		)	(3,549		)
Translation	(119		)	—			(119		)
Balance at Apr 30, 2012	$	—		$	—		$	—



	Severance			Other			Total
2010
Original charge (a)	$	6,034		$	5,581		$	11,615
Utilized	(2,031		)	(5,441		)	(7,472		)
Translation	1			(9		)	(8		)
Balance at Jul 31, 2010	$	4,004		$	131		$	4,135
Utilized	(1,356		)	(135		)	(1,491		)
Translation	2			4			6
Balance at Jul 31, 2011	$	2,650		$	—		$	2,650
Utilized	(1,608		)	—			(1,608		)
Translation	—			—			—
Balance at Apr 30, 2012	$	1,042		$	—		$	1,042



	Severance			Other			Total
2009
Original charge	$	18,938		$	4,734		$	23,672
Utilized	(12,757		)	(4,133		)	(16,890		)
Translation	412			20			432
Balance at Jul 31, 2009	6,593			621			7,214
Utilized	(4,902		)	(588		)	(5,490		)
Reversal of excess reserves	(143		)	—			(143		)
Translation	(86		)	(27		)	(113		)
Balance at Jul 31, 2010	$	1,462		$	6		$	1,468
Utilized	(845		)	(6		)	(851		)
Reversal of excess reserves	(6		)	—			(6		)
Translation	120			—			120
Balance at Jul 31, 2011	$	731		$	—		$	731
Utilized	(317		)	—			(317		)
Reversal of excess reserves	(46		)	—			(46		)
Translation	(48		)	—			(48		)
Balance at Apr 30, 2012	$	320		$	—		$	320

(a) Excludes stock-based compensation expense of $603