7.	Restructuring

During 2012 and 2011, we initiated certain business restructuring initiatives aimed at reducing our fixed cost structure and realigning our business. The 2012 initiatives included the reduction in hourly and salaried headcount of approximately 153 employees, which included 98 in Water & Fluid Solutions and 55 in Technical Solutions. The 2011 initiatives, initiated in the fourth quarter, included the reduction in hourly and salaried headcount of approximately 210 employees, which included 160 in Water & Fluid Solutions and 50 in Technical Solutions.

Restructuring related costs included in Selling, general and administrative expenses on the Condensed Consolidated Statements of Income and Comprehensive Income (Loss) include costs for severance and other restructuring costs as follows for the three and nine months ended September 29, 2012, and October 1, 2011:


	Three months ended				Nine months ended

	September 29,		October 1,		September 29,		October 1,
In thousands	2012		2011		2012		2011

Severance and related costs	$	830	$	—	$	10,490	$	—
Asset impairment and other restructuring costs		—		—		710		—

Total restructuring costs	$	830	$	—	$	11,200	$	—

We assumed $17.1 million of restructuring accruals from restructuring 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 on the Condensed Consolidated Balance Sheets is summarized as follows for the nine months ended September 29, 2012, and October 1, 2011, and the year ended December 31, 2011:


In thousands	September 29, 2012			December 31, 2011			October 1, 2011

Beginning balance	$	12,805		$	3,994		$	3,994
Acquired		17,062			—			—
Costs incurred		10,490			11,500			—
Cash payments and other		(12,372	)		(2,689	)		(1,274)

Ending balance	$	27,985		$	12,805		$	2,720