RESTRUCTURING CHARGES

6 Months Ended

Apr. 30, 2014

Restructuring And Related Activities [Abstract]

NOTE 7 — RESTRUCTURING CHARGES

The following is a reconciliation of the beginning and ending restructuring reserve balances for the six month period ended April 30, 2014 (Dollars in millions):


	Cash Charges						Non-cash Charges
	Employee Separation Costs			Other Costs			Asset Impairments			Total
Balance at October 31, 2013	$	1.8		$	1.2		$	—		$	3.0
Costs incurred and charged to expense		5.1			1.2			0.2			6.5
Costs paid or otherwise settled		(2.2	)		(1.1	)		(0.2	)		(3.5	)

Balance at April 30, 2014	$	4.7		$	1.3		$	—		$	6.0

The focus for restructuring activities in 2014 is to rationalize operations and close underperforming assets in both the Flexible Products & Services and Rigid Industrial Packaging & Services segments. During the three months ended April 30, 2014, the Company recorded restructuring charges of $3.9 million, which compares to ($0.1) million of restructuring charges during the three months ended April 30, 2013. The restructuring activity for the three months ended April 30, 2014 consisted of $2.7 million in employee separation costs and $1.2 million in other restructuring costs, primarily consisting of professional fees. During the six months ended April 30, 2014, the Company recorded restructuring charges of $6.5 million, which compares to $1.2 million of restructuring charges during the six months ended April 30, 2013. The restructuring activity for the six months ended April 30, 2014 consisted of $5.1 million in employee separation costs, $0.2 million in asset impairments and $1.2 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 $6.9 million and $6.6 million as of April 30, 2014 and October 31, 2013, respectively. The increase was due to the formulation of new plans during the period offset by the realization of expenses from plans formulated in prior periods. (Dollars in millions):


	Amounts Expected to be Incurred		Amounts expensed during the six month period ended April 30, 2014		Amounts Remaining to be Incurred
Rigid Industrial Packaging & Services
Employee separation costs	$	6.8	$	3.0	$	3.8
Asset impairments		0.2		0.2		—
Other restructuring costs		1.4		0.1		1.3

		8.4		3.3		5.1
Flexible Products & Services
Employee separation costs		2.5		2.1		0.4
Asset impairments		—		—		—
Other restructuring costs		2.5		1.1		1.4

		5.0		3.2		1.8

	$	13.4	$	6.5	$	6.9

- 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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