Restructuring Charges

9 Months Ended

Jul. 31, 2013

Restructuring And Related Activities [Abstract]

NOTE 7 — RESTRUCTURING CHARGES

The following is a reconciliation of the beginning and ending restructuring reserve balances for the nine month period ended July 31, 2013 (Dollars in millions):


	Cash Charges						Non-cash Charges
	Employee Separation Costs			Other Costs			Asset Impairments			Total
Balance at October 31, 2012	$	6.2		$	1.8		$	—		$	8.0
Costs incurred and charged to expense		0.9			1.7			2.8			5.4
Costs paid or otherwise settled		(5.0	)		(2.2	)		(2.8	)		(10.0	)

Balance at July 31, 2013	$	2.1		$	1.3		$	—		$	3.4

Restructuring activities in 2013 are primarily related to capacity rationalization and integration efforts in Rigid Industrial Packaging & Services and manufacturing rationalization in Flexible Products & Services. During the three months ended July 31, 2013, the Company recorded restructuring charges of $4.2 million, which compares to $3.9 million of restructuring charges during the three months ended July 31, 2012. The restructuring activity for the three months ended July 31, 2013 consisted of $1.3 million in employee separation costs, $2.3 million in asset impairments and $0.6 million in other restructuring costs, primarily consisting of lease termination costs and professional fees. During the nine months ending July 31, 2013, the Company recorded restructuring charges of $5.4 million, which compares to $22.9 million of restructuring charges during the nine months ended July 31, 2012. The restructuring activity for the nine months ended July 31, 2013 consisted of $0.9 million in employee separation costs, $2.8 million in asset impairments and $1.7 million in other restructuring costs, primarily consisting of lease termination costs and professional fees.

The following is a reconciliation of the total amounts expected to be incurred from open restructuring plans or plans that are being formulated and have not been announced as of the date of this Form 10-Q. Remaining amounts expected to be incurred were $6.5 million and $12.3 million as of July 31, 2013 and October 31, 2012, respectively. The decrease was due to the realization of expenses from plans formulated in prior periods offset by the formulation of new plans during the period. (Dollars in millions):


	Amounts Expected to be Incurred		Amounts expensed during the nine month period ended July 31, 2013		Amounts Remaining to be Incurred
Rigid Industrial Packaging & Services
Employee separation costs	$	2.8	$	0.7	$	2.1
Asset impairments		2.7		2.7		—
Other restructuring costs		4.8		1.3		3.5

		10.3		4.7		5.6
Flexible Products & Services
Employee separation costs		0.8		0.2		0.6
Asset impairments		0.1		0.1		—
Other restructuring costs		0.7		0.4		0.3

		1.6		0.7		0.9

	$	11.9	$	5.4	$	6.5

- 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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