Note 11: Accounts Payable and Accrued Liabilities

The carrying values of accounts payable and accrued liabilities were as follows:


	December 31,
	2012		2011
	(In thousands)

Accounts payable	$	183,672	$	214,507
Wages, severance and related taxes		47,998		40,411
Employee benefits		18,550		16,143
Accrued rebates		28,002		33,047
Other (individual items less than 5% of total current liabilities)		71,722		61,130

Accounts payable and accrued liabilities	$	349,944	$	365,238

The majority of our accounts payable balance is due to trade creditors. Our accounts payable balance as of December 31, 2012 and 2011 also included $21.3 million and $51.4 million, respectively, of amounts due to banks used by our Asia Pacific segment under a commercial acceptance draft program. All accounts payable outstanding under the commercial acceptance draft program are expected to be settled within one year.

During 2012, we implemented certain restructuring actions in response to the uncertain global economic environment. For the year ended December 31, 2012, we recognized severance costs in our Americas, EMEA, and Asia Pacific segments of $7.2 million, $3.4 million, and $1.1 million, respectively. In addition, we recognized other restructuring costs in our Americas, EMEA, and Asia Pacific segments of $0.8 million, $5.2 million, and $0.2 million, respectively. The other restructuring costs in the EMEA segment consisted primarily of contract termination costs related to our supply chain. Of the total severance and other restructuring costs recognized, $6.4 million, $10.0 million, and $1.5 million were included in cost of sales, selling, general and administrative expenses, and research and development, respectively.

We do not expect to recognize any additional significant severance or other restructuring costs related to these restructuring actions, and the majority of the costs related to these actions were paid in 2012. As of December 31, 2012, our accrued liabilities balance included $5.3 million of accrued severance related to these actions, which is expected to be paid in 2013.

During 2011, we recognized severance expenses related to selected restructuring actions in our Americas, EMEA, and Asia Pacific segments of $0.6 million, $3.0 million, and $1.4 million in response to economic conditions.

We continue to review our business strategies and evaluate further restructuring actions. This could result in additional severance and other charges in future periods.