3. Restructuring

Restructuring costs incurred in the third quarter and first nine months of 2010 totaled $2.8 million and $7.2 million, respectively, and primarily related to severance and lease termination costs for branches in the EMEA Commercial and APAC Commercial segments that were in the process of closure at the end of 2009, and severance costs related to the corporate headquarters. Restructuring costs incurred in the third quarter and first nine months of 2011 amounted to a credit of $0.6 million and expense of $2.8 million, respectively, and primarily relate to revisions of the estimated lease termination costs for EMEA Commercial branches that closed in prior years. These costs were reported as a component of SG&A expenses. Total costs incurred since July 2008 for our restructuring efforts amounted to $46.4 million.

A summary of the balance sheet accrual related to the global restructuring costs follows (in millions of dollars):


Balance at beginning of year	$	4.7

Amounts charged (credited) to operations		4.0
Reductions for cash payments		(1.1	)


Balance at April 3, 2011		7.6

Amounts charged (credited) to operations		(0.6	)
Reductions for cash payments		(0.4	)


Balance at July 3, 2011		6.6

Amounts charged (credited) to operations		(0.6	)
Reductions for cash payments		(0.6	)


Balance at October 2, 2011	$	5.4

The remaining balance of $5.4 million as of October 2, 2011 represents primarily future lease payments and is expected to be paid by 2018. On a quarterly basis, the Company reassesses the accrual associated with restructuring costs and adjusts it as necessary.