Formula with variables error. I hate semicolons!

I am using Crystal Reports XI to write a formula using variables to find the tot hours worked, regular hours worked, and overtime hours worked but I keep getting an error. I know it has to do with the placement of my semicolons but cannot figure it out. Below is the code for my formula:

WhilePrintingRecords;
//Find the hours worked that shift
numberVar hours := round({@TOut} - {@TIn}/3600,2);
//See if the employee is the same
If {PR_EMP.ID} = Previous({PR_EMP.ID}) Then
    //Find the total hrs worked
    numberVar tot_hrs  := tot_hrs + hours;
    //Find out if the total hours is greater than 40
    If tot_hrs > 40 then //If the total hours are greater than 40
        //Set the regular hours to 40
        numberVar reg_hrs := 40
        //Find out the overtime hrs (Total Hours - 40)
        numberVar ot_hrs := tot_hrs - 40;
    Else //The total hours is less than 40
        //Set the regular hours equal to total hours
        numberVar reg_hrs := tot_hrs
        //Set overtime hours = 0
        numberVar ot_hrs := 0;
Else //New Employee Record
    //Total hours equals hours worked
    numberVar tot_hrs := hours
    //Regular hours equals total hours
    numberVar reg_hrs := tot_hrs
    //Set overtime hours to 0
    numberVar ot_hrs := 0;
hours;

The error message read: The remaining text does not appear to be part of the formula.

Any help would be appreciated.