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NONRECURRING EVENTS | 12 Months Ended
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Dec. 31, 2014
NONRECURRING EVENTS |
NONRECURRING EVENTS | NOTE 18 NONRECURRING EVENTS A fire caused damages to the roof and production area of an AptarGroup subsidiary, Graphocolor do Brasil Embalagens Ltda, on September 1, 2014. Graphocolor is located in Jundiai, Brazil. There were no reported injuries. Graphocolor is primarily an internal supplier to AptarGroup of anodized aluminum components for certain dispensing systems sold to the regional beauty and personal care markets. Repairs of the facility are progressing as planned and this event has not impacted our ability to service our customers. AptarGroup is insured for the damages caused by the fire, including business interruption insurance, and it does not expect this incident to have a material impact on its financial results. Costs, including the write-off of damaged fixed assets and inventory along with labor and other direct costs related to the fire, of $5.5 million were incurred during 2014, for which we have already received advanced insurance proceeds of $1.8 million. We have established an additional insurance receivable of $2.4 million for known losses for which insurance reimbursement is probable. In many cases, our insurance coverage exceeds the amount of these covered losses. No gain contingencies have been recognized as our ability to realize those gains remains uncertain. Therefore, we are reporting net expenses of $1.3 million related to the Graphocolor fire during 2014. These costs are included in the Beauty + Home segment.

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- Definition The entire disclosure for business interruption insurance recoveries. Includes, but is not limited to, the nature of the event resulting in business interruption losses, the aggregate amount of business interruption insurance recoveries recognized, and the line item in the statement of operations in which those recoveries are classified (including amounts reported as an extraordinary item). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6365675&loc=d3e16285-107787 + Details
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