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Unallocated Corporate operating expenses decreased to $19.5 million in the third quarter of 2012 as compared to $49.2 million in the third quarter of 2011. Excluding charges for restructuring and impairment and acquisition-related expenses totaling $1.4 million in the third quarter of 2012 and $2.2 million in the third quarter of 2011, unallocated Corporate operating expenses decreased $28.9 million to $18.1 million in the third quarter of 2012. Lower pension expense, a lower LIFO inventory provision, lower variable compensation expense and targeted cost reductions were partially offset by the reinstatement of the 401(k) match and higher benefits-related expense.
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- People:
- Thomas J. Quinlan III
- Places:
- Chicago
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