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RESTRUCTURING INITIATIVES
 9 Months Ended
Sep. 30, 2018
RESTRUCTURING INITIATIVES.  
RESTRUCTURING INITIATIVES

NOTE 18 – RESTRUCTURING INITIATIVES

In late 2017, Aptar began a business transformation to drive profitable sales growth, increase operational excellence, enhance our approach to innovation and improve organizational effectiveness.  The primary focus of the plan is the Beauty + Home segment; however, certain global general and administrative functions will also be addressed.  For the three and nine months ended September 30, 2018, the Company recognized $23.9 million and $48.0 million of restructuring costs related to this plan, respectively.  The Company estimates total implementation costs of approximately $90 million over the next three years. The Company also anticipates making capital investments related to the business transformation of approximately $54 million of which the majority will be in 2018.

As of September 30, 2018 the Company has recorded the following activity associated with the business transformation:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

Beginning

    

Net Charges for

    

 

 

    

 

 

    

Ending

 

 

 

Reserve at

 

the Nine Months

 

 

 

 

 

 

 

Reserve at

 

 

 

12/31/2017

 

Ended 9/30/2018

 

Cash Paid

 

FX Impact

 

9/30/2018

 

Employee severance

 

$

2,258

 

$

2,035

 

$

(2,414)

 

$

(52)

 

$

1,827

 

Professional fees and other costs

 

 

 —

 

 

45,967

 

 

(35,033)

 

 

637

 

 

11,571

 

Totals

 

$

2,258

 

$

48,002

 

$

(37,447)

 

$

585

 

$

13,398