Restructuring

During the six months ended June 30, 2012 and 2011, the Company recorded total net expenses of $0.8 million and $1.2 million, respectively, for costs associated with restructuring plans including impairment of property, plant and equipment, lease obligations, severance, consulting and other related charges. Estimated lease obligations associated with closed facilities were based on level 2 inputs.

In the three and six months ended June 30, 2012, the Company recorded net expenses of $0.2 million and $0.6 million, respectively, in selling, general and administrative ("SG&A") expenses and $0.1 million and $0.2 million, respectively, in cost of goods sold for costs associated with restructuring plans including non-cancelable lease obligations, severance, consulting and other related charges.

In the three months ended June 30, 2012, restructuring costs included charges of $0.1 million in the Distribution Segment related to severance and non-cancelable lease costs offset by a gain of $0.3 million on the sale of two facilities. Restructuring charges of $0.1 million for non-cancelable lease obligations were recorded in the Engineered Products Segment. In addition, $0.4 million restructuring charges were recorded in the quarter for the Lawn and Garden Segment related to severance costs.

In the six months ended June 30, 2012, net restructuring costs of $0.2 million were recorded in the Distribution Segment. These costs were related to charges for severance of $0.3 million and consulting and other related charges of $0.2 million offset by a gain of $0.3 million on the sale of three facilities. In the Engineered Products Segment, restructuring charges of $0.2 million were recorded for the six month period ended June 30, 2012 related to non-cancelable lease costs. Lawn and Garden Segment had $0.4 million of restructuring charges through the first six months of 2012 for severance costs incurred.

In the three and six months ended June 30, 2011, the Company recorded expenses of $0.6 million and $1.2 million, respectively, related to restructuring activities. The restructuring costs included charges of $0.5 million and $0.7 million in the three and six months ended June 30, 2011, respectively, related to the Distribution Segment and a $0.3 million in the six months ended June 30, 2011 for an impairment related to an idle Lawn and Garden manufacturing facility. Impairment charges for property, plant and equipment were based on appraisals or estimated market values of similar assets which are considered level 2 inputs. In the Engineered Products Segment, restructuring charges of 0.2 million were recorded for the six month period ended June 30, 2011 related to non-cancelable lease costs.

The amounts for severance and other exit costs associated with restructuring are included in Other Accrued expenses on the accompanying Condensed Consolidated Statements of Financial Position.



	Severance and			Other
(Dollars in thousands)	Personnel			Exit Costs			Total
Balance at January 1, 2012	$	—		$	605		$	605
Provision	651			402			1,053
Less: Payments	(651		)	(532		)	(1,183		)
Balance at June 30, 2012	$	—		$	475		$	475

As a result of restructuring activity including plant closures, approximately $5.7 million of property, plant, and equipment has been classified as held for sale at both June 30, 2012 and December 31, 2011, and is included in other assets in the Condensed Consolidated Statements of Financial Position. The Company is actively pursuing the sale of these facilities.