2. Restructuring

The Company entered into a restructuring initiative in the third quarter of 2011. This initiative supports the implementation of key strategic efforts designed to facilitate long-term sustainable growth through cost reduction actions, primarily consisting of employee reductions and facility rationalization. We record accruals for employee termination benefits related to employee reductions based on the guidance of ASC 420 "Exit or Disposal Cost Obligations." The costs incurred related to these initiatives are included in Restructuring expenses in the Consolidated Statements of Operations while the restructuring accruals are included in Accrued expenses in our Consolidated Balance Sheets.

During the three and nine months ended September 30, 2011, the Company recorded $2.9 million of pre-tax restructuring expenses related to the 2011 restructuring initiative for employee severance related to employee reductions across various functional areas as well as facility rationalization. The 2011 restructuring initiative included severance benefits for over 100 employees.

During the three and nine months ended September 30, 2010, the Company recorded $3.5 million and $6.4 million, respectively, of pre-tax restructuring expenses related to its 2009 restructuring initiative.

Pre-tax restructuring expenses, by segment, for the three and nine months ended September 30, 2011 were as follows:


	Severance Costs		Exit Costs		Total
	(in thousands)
Fluid & Metering Technologies	$	528	$	51	$	579
Health & Science Technologies		407		21		428
Dispensing Equipment		1,225		87		1,312
Fire & Safety/Diversified Products		390		—		390
Corporate office and other		222		—		222

Total restructuring costs	$	2,768	$	163	$	2,931

Pre-tax restructuring expenses, by segment, for the three and nine months ended September 30, 2010 were as follows:


	Three Months Ended September 30, 2010						Nine Months Ended September 30, 2010
	Severance Costs		Exit Costs		Total		Severance Costs		Exit Costs		Total
	(in thousands)
Fluid & Metering Technologies	$	1,153	$	—	$	1,153	$	1,864	$	202	$	2,066
Health & Science Technologies		2,102		269		2,371		2,948		323		3,271
Dispensing Equipment		—		—		—		120		—		120
Fire & Safety/Diversified Products		—		—		—		477		—		477
Corporate office and other		—		—		—		396		92		488

Total restructuring costs	$	3,255	$	269	$	3,524	$	5,805	$	617	$	6,422

Restructuring accruals of $2.2 million and $3.5 million as of September 30, 2011 and December 31, 2010, respectively, are reflected in Accrued expenses in the Consolidated Balance Sheets as follows:


	(In thousands)
Balance at January 1, 2011	$	3,543
Restructuring costs		2,931
Payments/Utilization		(4,307	)

Balance at September 30, 2011	$	2,167