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RESTRUCTURING INITIATIVE | 9 Months Ended
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Sep. 30, 2014
RESTRUCTURING INITIATIVE |
RESTRUCTURING INITIATIVE | NOTE 16 – RESTRUCTURING INITIATIVE In November 2012, the Company announced a plan to optimize certain capacity in Europe. Due to increased production efficiencies and to better position the Company for future growth in Europe, AptarGroup transferred and consolidated production capacity involving twelve facilities. Two facilities have closed impacting approximately 170 employees. The locations involved in the plan are facilities serving the beauty, personal care, food, beverage, and consumer health care markets. As of December 31, 2013, the plan was substantially complete. The cumulative expense incurred was $19.5 million. As of September 30, 2014 we have recorded the following activity associated with our European restructuring plan:
|  | Beginning |  | Net Charges for |  |  |  |  |  | Ending |
|  | Reserve at |  | the Nine Months |  |  |  |  |  | Reserve at |
|  | 12/31/13 |  | Ended 9/30/14 |  | Cash Paid |  | FX Impact |  | 9/30/14 |
Employee severance |  | $ | 2,521 |  | $ | -- |  | $ | (1,933 | ) | $ | (158 | ) | $ | 430 |
Other costs |  | 1,735 |  | -- |  | (1,568 | ) | (82 | ) | 85 |
Totals |  | $ | 4,256 |  | $ | -- |  | $ | (3,501 | ) | $ | (240 | ) | $ | 515 |

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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 Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 5.P.3) -URI http://asc.fasb.org/extlink&oid=27011515&loc=d3e140864-122747 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 5 -Section P -Subsection 3, 4 Reference 3: 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=27011515&loc=d3e140904-122747 Reference 4: 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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