Business Reorganizations

12 Months Ended

Dec. 31, 2011

Restructuring and Related Activities [Abstract]

In 2009, the Company authorized the restructuring of certain operations of the Precision Components segment by moving the operations of two facilities and recorded restructuring and related costs of $1,336 and $4,904 in 2010 and 2009, respectively. The Company may incur additional costs primarily related to the 2009 and pre-2008 actions related to pension costs, in large part due to the accelerated recognition of actuarial losses which are currently recorded in accumulated other non-owner changes to equity. In addition, during 2009, the Company implemented other workforce reduction actions at Precision Components and recorded severance expense of $3,358. Costs related to the 2009 actions are primarily recorded in selling and administrative expenses in the accompanying consolidated statements of income.

The following table sets forth the change in the liability for the 2009 employee termination actions at Precision Components:



January 1, 2010	$	3,337
Severance expense, net	(337		)
Payments	(2,812		)
Foreign currency translation	(16		)
December 31, 2010	$	172
Payments	(83		)
Foreign currency translation	(4		)
December 31, 2011	$	85

The remaining balance is expected to be paid in 2012.

In 2008, the Company implemented certain right-sizing actions, including workforce reductions and plant consolidations, at both business segments, and recorded restructuring and related costs. These costs are primarily recorded in selling and administrative expenses in the accompanying consolidated statements of income.

The following table sets forth the change in the liability for 2008 employee termination actions:



	Logistics and Manufacturing Services			Precision Components
January 1, 2010	1,467			167
Severance expense, net	(403		)	(35		)
Payments	(863		)	(133		)
Foreign currency translation	(136		)	1
December 31, 2010	$	65		$	—

No costs were incurred or paid in 2011. The remaining balance is expected to be paid in 2012.

- Definition

The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled.

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