Subsequent Events

9 Months Ended

Sep. 30, 2019

13.	Subsequent Events

On October 1, 2019, the Company amended its existing accounts receivable securitization program with Wells Fargo to decrease the commitment size from $70 million to $65 million and extended the expiration date of the program to October 2020.

On October 15, 2019, the Board of Directors approved the sale and a memorandum of understanding for the Global Inks product line, which is within the Color segment. The Company anticipates a sale within the next year. The Company estimates a non-cash net loss between $10 million and $12 million will be recorded in the three months ending December 31, 2019. This estimate will be finalized and adjusted as necessary upon the closing of the sale. The Company does not expect cash costs associated with the divestiture to have a material effect on our results of operations or cash flows.