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RESTRUCTURING INITIATIVE | 6 Months Ended
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Jun. 30, 2013
RESTRUCTURING INITIATIVE |
RESTRUCTURING INITIATIVE | NOTE 15 – RESTRUCTURING INITIATIVE On November 1, 2012, the Company announced a plan to optimize certain capacity in Europe (the “EOO” plan). Due to increased production efficiencies and to better position the Company for future growth in Europe, AptarGroup will transfer and consolidate production capacity involving twelve facilities. Two facilities, one in Italy and one in Switzerland, are expected to close and will impact approximately 170 employees. The locations involved in the EOO plan are facilities that are serving the beauty, personal care, food, beverage, and consumer health care markets. The total costs associated with the plan are estimated to be approximately €14 million (approximately $18 million using current exchange rates) of which approximately €4 million (approximately $6 million using current exchange rates) relates to non-cash expenses and will be included in depreciation and amortization in the Condensed Consolidated Statements of Income. The cumulative expense incurred to date is $12.5 million. As of June 30, 2013 we have recorded the following activity associated with our EOO plan:
|  | Beginning |  | Net Charges for |  |  |  |  |  | Ending |
|  | Reserve at |  | the Six Months |  |  |  |  |  | Reserve at |
|  | 12/31/12 |  | Ended 6/30/13 |  | Cash Paid |  | FX Impact |  | 6/30/13 |
Employee severance |  | $ | 3,158 |  | $ | 5,345 |  | $ | (3,375 | ) | $ | (85 | ) | $ | 5,043 |
Other costs |  | -- |  | 1,277 |  | (1,246 | ) | 3 |  | 34 |
Totals |  | $ | 3,158 |  | $ | 6,622 |  | $ | (4,621 | ) | $ | (82 | ) | $ | 5,077 |
In addition to the above charges, $1.0 million of accelerated depreciation was incurred in the first half of 2013. This amount is included within depreciation and amortization in the Condensed Consolidated Statements of Income.

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- 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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 146 -Paragraph 20 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 5.P.4) -URI http://asc.fasb.org/extlink&oid=6394695&loc=d3e140904-122747 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 5.P.3) -URI http://asc.fasb.org/extlink&oid=6394695&loc=d3e140864-122747 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 5 -Section P -Subsection 3, 4 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 + Details
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