XML 37 R17.htm IDEA: XBRL DOCUMENT v3.19.1
PROPERTY, PLANT AND EQUIPMENT
12 Months Ended
Dec. 31, 2018
Disclosure of detailed information about property, plant and equipment [abstract]  
PROPERTY, PLANT AND EQUIPMENT
PROPERTY, PLANT AND EQUIPMENT
The following table outlines the changes to property, plant and equipment during the year ended December 31, 2017:
 
Land
 
Buildings
 
Manufacturing
equipment
 
Computer
equipment
and software
 
Furniture,
office equipment
and other
 
Construction in
progress
 
Total
 
$
 
$
 
$
 
$
 
$
 
$
 
$
Gross carrying amount
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance as of December 31, 2016
6,130

 
92,945

 
557,317

 
41,643

 
2,467

 
43,993

 
744,495

Additions – separately acquired

 

 

 

 

 
82,510

 
82,510

Additions through business acquisitions
1,268

 
6,617

 
17,427

 
407

 
55

 
1,501

 
27,275

Assets placed into service
4,638

 
25,353

 
59,125

 
1,415

 
236

 
(90,767
)
 

Disposals
(229
)
 
(116
)
 
(15,260
)
 
(1,139
)
 
(140
)
 

 
(16,884
)
Foreign exchange and other
303

 
2,274

 
8,791

 
176

 
87

 
598

 
12,229

Balance as of December 31, 2017
12,110

 
127,073

 
627,400

 
42,502

 
2,705

 
37,835

 
849,625

Accumulated depreciation and impairments
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance as of December 31, 2016
609

 
61,072

 
411,924

 
35,460

 
1,866

 
86

 
511,017

Depreciation

 
4,341

 
25,717

 
2,172

 
179

 

 
32,409

Impairments

 

 
208

 

 
2

 
274

 
484

Impairment reversals

 

 
(3
)
 

 

 

 
(3
)
Disposals

 
(82
)
 
(14,501
)
 
(1,138
)
 
(13
)
 

 
(15,734
)
Foreign exchange and other

 
963

 
6,823

 
158

 
74

 
(86
)
 
7,932

Balance as of December 31, 2017
609

 
66,294

 
430,168

 
36,652

 
2,108

 
274

 
536,105

Net carrying amount as of December 31, 2017
11,501

 
60,779

 
197,232

 
5,850

 
597

 
37,561

 
313,520

The following table outlines the changes to property, plant and equipment during the year ended December 31, 2018:
 
Land
 
Buildings
 
Manufacturing
equipment
 
Computer
equipment
and software
 
Furniture,
office equipment
and other
 
Construction in
progress
 
Total
 
$
 
$
 
$
 
$
 
$
 
$
 
$
Gross carrying amount
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance as of December 31, 2017
12,110

 
127,073

 
627,400

 
42,502

 
2,705

 
37,835

 
849,625

Additions – separately acquired

 

 

 

 

 
74,712

 
74,712

Additions through business acquisitions
2,400

 
5,720

 
28,619

 
146

 
163

 
1,334

 
38,382

Assets placed into service

 
10,330

 
42,114

 
1,876

 
785

 
(55,105
)
 

Disposals

 
(180
)
 
(4,667
)
 
(230
)
 
(137
)
 


 
(5,214
)
Category reclassifications
(1,641
)
 
4,229

 
(2,588
)
 

 

 


 

Foreign exchange and other
(793
)
 
(1,755
)
 
(8,632
)
 
(243
)
 
(58
)
 
(1,107
)
 
(12,588
)
Balance as of December 31, 2018
12,076

 
145,417

 
682,246

 
44,051

 
3,458

 
57,669

 
944,917

Accumulated depreciation and impairments
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance as of December 31, 2017
609

 
66,294

 
430,168

 
36,652

 
2,108

 
274

 
536,105

Depreciation

 
5,615

 
30,154

 
2,245

 
534

 

 
38,548

Impairments
370

 
820

 
3,649

 

 

 
84

 
4,923

Disposals

 
(118
)
 
(4,305
)
 
(229
)
 
(128
)
 

 
(4,780
)
Foreign exchange and other

 
(1,035
)
 
(5,662
)
 
(208
)
 
(48
)
 
(2
)
 
(6,955
)
Balance as of December 31, 2018
979

 
71,576

 
454,004

 
38,460

 
2,466

 
356

 
567,841

Net carrying amount as of December 31, 2018
11,097

 
73,841

 
228,242

 
5,591

 
992

 
57,313

 
377,076


Capital expenditures incurred in the year ended December 31, 2018 were primarily to support the greenfield manufacturing facilities in India as well as capacity expansion at the Midland, North Carolina manufacturing facility and other growth initiatives. As of December 31, 2018, the Company had commitments to suppliers to purchase machinery and equipment totalling $16.3 million primarily to support the greenfield manufacturing facilities in India and other growth initiatives. It is expected that such amounts will be paid out in the next twelve months and will be funded by the Company's borrowings and cash flows from operating activities.
Capital expenditures incurred in the year ended December 31, 2017 were primarily to support the construction of the Midland, North Carolina manufacturing facility, the construction of the greenfield manufacturing facilities in India, the capacity expansion of stretch film production at the Danville, Virginia manufacturing facility and other growth initiatives and maintenance needs. As of December 31, 2017, the Company had commitments to suppliers to purchase machinery and equipment totalling $29.3 million primarily to support the construction of the greenfield manufacturing facilities in India, shrink film capacity expansion at the Tremonton, Utah manufacturing facility, capacity expansion at the Midland, North Carolina manufacturing facility and other growth initiatives.
During the year ended December 31, 2018, the loss on disposals amounted to 0.2 million ($0.3 million and 0.1 million loss on disposals in 2017 and 2016, respectively).
Supplemental information regarding property, plant and equipment is as follows for the years ended:
 
December 31,
2018
 
December 31,
2017
Interest capitalized to property, plant and equipment
$2,277
 
$1,378
Weighted average capitalization rates
7.64
%
 
3.02
%