Rationalization Charges

9 Months Ended

Sep. 30, 2011

Note 3. Rationalization Charges

As part of our plans to rationalize certain facilities, we have established reserves for employee severance and benefits and plant exit costs. Activity in our rationalization reserves since December 31, 2010 is summarized as follows:

	Employee			Retirement			Plant			Non-Cash
	Severance			Benefit			Exit			Asset
	and Benefits			Curtailments			Costs			Write-Down			Total
	(Dollars in thousands)

Balance at December 31, 2010	$	11,056		$	-		$	217		$	-		$	11,273

Activity for the Nine Months Ended September 30, 2011
Prior Years’ Rationalization Plan Reserves Established		2,903			(449	)		776			1,552			4,782
Prior Years’ Rationalization Plan Reserves Utilized		(10,166	)		449			(659	)		(1,552	)		(11,928	)
Currency Translation		608			-			-			-			608
Total Activity		(6,655	)		-			117			-			(6,538	)

Balance at September 30, 2011	$	4,401		$	-		$	334		$	-		$	4,735

In the third quarter of 2011, we recognized a curtailment gain for our pension benefits related to our 2010 plan to reduce costs in our closures manufacturing facility in Germany.

Rationalization reserves as of September 30, 2011 and December 31, 2010 are included in the Condensed Consolidated Balance Sheets as accrued liabilities.