Note P – Restructuring

The following is a reconciliation of restructuring reserves (in thousands of dollars):


Balance at July 31, 2008	$	—
Accruals for restructuring during the reporting period		17,755
Less settlements made during the period		(13,915	)
Balance at July 31, 2009	$	3,840
Accruals for restructuring during the reporting period		8,023
Less settlements made during the period		(7,724	)
Balance at July 31, 2010	$	4,139
Accruals for restructuring during the reporting period		759
Less settlements made during the period		(4,898	)
Balance at July 31, 2011	$	—

The Company commenced certain restructuring actions in Fiscal 2009 in response to the dramatic downturn in the worldwide economy. The restructuring expenses in the first quarter of Fiscal 2011 include employee severance costs for approximately five employees related to the completion of the Company's planned restructuring activities. Since then, the Company has not incurred and does not expect to incur additional restructuring charges during the remainder of Fiscal 2012.

Restructuring expense detail for the three and nine months ended April 30, 2012 and 2011 is summarized as follows (in thousands):


	Three Months Ended April 30,				Nine Months Ended April 30,
	2012		2011		2012		2011
Cost of sales	$	—	$	—	$	—	$	20
Operating expenses		—		—		—		739
Total restructuring expenses	$	—	$	—	$	—	$	759