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INSURANCE SETTLEMENT RECEIVABLE
3 Months Ended
Mar. 31, 2019
INSURANCE SETTLEMENT RECEIVABLE  
INSURANCE SETTLEMENT RECEIVABLE

Note 17 – INSURANCE SETTLEMENT RECEIVABLE

A fire caused damage to our facility in Annecy, France in June 2016.  The fire was contained to one of three production units and there were no reported injuries. Aptar Annecy supplies anodized aluminum components for certain Aptar dispensing systems.  While repairs are underway, we source from our network of suppliers as well as from our anodizing facility in Brazil.  We are insured for the damages caused by the fire, including business interruption insurance, and we do not expect this incident to have a material impact on our financial results.

Losses related to the fire of $5.9 million were incurred during the three months ended March 31, 2018.  We have an insurance receivable of $3.4 million as of March 31, 2019.  We did not receive any insurance proceeds during the first quarter of 2019.  In many cases, our insurance coverage exceeds the amount of our recognized losses. However, no gain contingencies were recognized during the three months ended March 31, 2019 as our ability to realize those gains remains uncertain.  During the three months ended March 31, 2019, profitability was not impacted while profitability was negatively impacted by $1.5 million during the three months ended March 31, 2018.  These 2018 losses negatively impacted the Beauty + Home segment.