XML 44 R29.htm IDEA: XBRL DOCUMENT v3.10.0.1
RESTRUCTURING INITIATIVES
 12 Months Ended
Dec. 31, 2018
RESTRUCTURING INITIATIVES.  
RESTRUCTURING INITIATIVES

NOTE 21 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 will be the Beauty + Home segment; however, certain global general and administrative functions will also be addressed.  During 2018 and 2017, we recognized approximately $63.8 and $2.2 million of restructuring costs related to this plan, respectively.  Using current exchange rates, we estimate total implementation costs of approximately $90 million over three years. We also anticipate making capital investments related to the transformation plan of approximately $55 million, of which the majority will be in 2019. 

As of December 31, 2018 we have recorded the following activity associated with the transformation plan:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

Beginning

    

Net Charges

    

 

 

    

 

 

    

Ending

 

 

 

Reserve at

 

for the Year

 

 

 

 

 

 

 

Reserve at

 

 

 

12/31/2017

 

Ended 12/31/2018

 

Cash Paid

 

FX Impact

 

12/31/2018

 

Employee severance

 

$

2,258

 

$

5,107

 

$

(3,361)

 

$

(70)

 

$

3,934

 

Professional fees and other costs

 

 

 —

 

 

58,722

 

 

(47,617)

 

 

(4)

 

 

11,101

 

Totals

 

$

2,258

 

$

63,829

 

$

(50,978)

 

$

(74)

 

$

15,035