2. Restructuring

During the second half of 2011 and into 2012, the Company recorded restructuring costs as a part of 2011 restructuring initiatives that support 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. 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 the Consolidated Balance Sheets.

During the three and nine months ended September 30, 2012, the Company recorded $7.1 million and $14.6 million, respectively, of pre-tax restructuring expenses related to its 2011 restructuring initiatives for employee severance related to employee reductions across various functional areas, the termination of a defined benefit pension plan, and facility rationalization. The 2011 restructuring initiatives included severance benefits for 292 employees in 2011 and 226 employees during the first nine months of 2012.

During both 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 initiatives for employee severance related to employee reductions across various functional areas as well as facility rationalization.

Pre-tax restructuring expenses, by segment, for the three and nine months ended September 30, 2012, were as follows:


	Three Months Ended September 30, 2012						Nine Months Ended September 30, 2012
	Severance Costs		Exit Costs		Total		Severance Costs		Exit Costs		Total
	(in thousands)
Fluid & Metering Technologies	$	698	$	26	$	724	$	3,666	$	36	$	3,702
Health & Science Technologies		2,700		475		3,175		4,607		1,175		5,782
Fire & Safety/Diversified Products		450		1,618		2,068		730		2,910		3,640
Corporate office and other		1,118		—		1,118		1,281		199		1,480

Total restructuring costs	$	4,966	$	2,119	$	7,085	$	10,284	$	4,320	$	14,604

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
Fire & Safety/Diversified Products		1,615		87		1,702
Corporate/Other		222		—		222

Total restructuring costs	$	2,772	$	159	$	2,931

Restructuring accruals of $5.6 million and $5.9 million at September 30, 2012 and December 31, 2011, respectively, are recorded in Accrued liabilities in the Consolidated Balance Sheets. The changes in the restructuring accrual for the nine months ended September 30, 2012 are as follows:


(In thousands)
Balance at January 1, 2012	$	5,875
Restructuring expenses		14,604
Payments, utilization and other		(14,851	)

Balance at September 30, 2012	$	5,628