Restructuring

During 2013, 2012 and 2011, we initiated certain business restructuring initiatives aimed at reducing our fixed cost structure and realigning our business. The 2013 initiatives included the reduction in hourly and salaried headcount of approximately 1,150 employees, which included 500 in Valves & Controls, 150 in Process Technologies, 200 in Flow Technologies and 300 in Technical Solutions. The 2012 initiatives included the reduction in hourly and salaried headcount of approximately 1,000 employees, which included 300 in Valves & Controls, 200 in Process Technologies, 300 in Flow Technologies and 200 in Technical Solutions. The 2011 initiatives included the reduction in hourly and salaried headcount of approximately 210 employees, which included 60 in Process Technologies, 100 in Flow Technologies and 50 in Technical Solutions.

Restructuring related costs included in Selling, general and administrative expenses in the Consolidated Statements of Operations and Comprehensive Income (Loss) included costs for severance and other restructuring costs as follows:



	Years ended December 31
In millions	2013		2012		2011
Severance and related costs	$	87.3	$	61.6	$	11.5
Other	26.2		5.3		1.5
Total restructuring costs	$	113.5	$	66.9	$	13.0

Other restructuring costs primarily consist of asset impairment and various contract termination costs.

Total restructuring costs related to Valves & Controls, Process Technologies, Flow Technologies and Technical Solutions were $51.0 million, $8.8 million, $24.3 million and $19.4 million, respectively, for the year ended December 31, 2013. In addition, $10.0 million of restructuring costs were incurred during 2013 related to corporate restructuring initiatives. Total restructuring costs related to Valves & Controls, Process Technologies, Flow Technologies and Technical Solutions were $5.1 million, $23.9 million, $25.2 million and $12.7 million, respectively, for the year ended December 31, 2012. Total restructuring costs related to Process Technologies, Flow Technologies and Technical Solutions were $3.9 million, $7.1 million and $2.0 million, respectively, for the year ended December 31, 2011.

We assumed $20.1 million of restructuring accruals in 2012 from actions initiated by Flow Control prior to the Merger relating to employee severance, facility exit and other restructuring costs. Activity in the restructuring accrual recorded in Other current liabilities and Employee compensation and benefits in the Consolidated Balance Sheets is summarized as follows:



	Years ended December 31
In millions	2013			2012
Beginning balance	$	59.6		$	12.8
Acquired	—			20.1
Costs incurred	87.3			61.6
Cash payments and other	(68.3		)	(34.9		)
Ending balance	$	78.6		$	59.6