XML 30 R20.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Restructuring Activities | 3 Months Ended
--- | ---
Mar. 31, 2018
Restructuring and Related Activities [Abstract] |
Restructuring Activities | Restructuring Activities Consolidation of Restructuring Programs In the first quarter of 2016, the Board of Directors agreed to consolidate the remaining activities of all restructuring programs to create a single program to be called the “Sealed Air Restructuring Program” or the “Program.” The Program consists of a portfolio of restructuring projects across all of our divisions as part of our transformation of Sealed Air into a knowledge-based company, including reductions in headcount, and relocation of certain facilities and offices, which primarily reflects the relocation from our former corporate headquarters in Elmwood Park, New Jersey; and facilities in Saddle Brook, New Jersey; Racine, Wisconsin; and Duncan and Greenville, South Carolina to our new global headquarters in Charlotte, North Carolina. The cost of the Charlotte campus was estimated to be approximately $120 million. The Program also includes costs associated with the sale of Diversey. Program metrics are as follows:
| Sealed Air Restructuring Program
Approximate positions eliminated by the program | 1,950 |
Estimated Program Costs (in millions): |  |
Costs of reduction in headcount as a result of reorganization | $260-$270 |
Other expenses associated with the Program | 130-135 |
Total expense | $390-$405 |
Capital expenditures | 250-255 |
Proceeds, foreign exchange and other cash items | (70)-(75) |
Total estimated net cash cost | $570-$585 |
Program to Date Cumulative Expense (in millions): |
Costs of reduction in headcount as a result of reorganization | $ | 246 |
Other expenses associated with the Program | 125 |
Total Cumulative Expense | $ | 371 |
Cumulative capital expenditures | $ | 235 |
The following table details our restructuring activities reflected in the Condensed Consolidated Statement of Operations for the three months ended March 31, 2018 and 2017:
|  | Three Months Ended March 31,
(In millions) |  | 2018 |  | 2017
Continuing Operations: |  |  |  |
Other associated costs |  | $ | 2.2 |  |  | $ | 3.9 |
Restructuring charges |  | 8.6 |  |  | 1.9 |
Total charges from continuing operations |  | 10.8 |  |  | 5.8 |
Charges included in discontinued operations |  | — |  |  | (1.7 | )
Total charges |  | $ | 10.8 |  |  | $ | 4.1 |
Capital expenditures |  | $ | 0.2 |  |  | $ | 9.9 |
The restructuring accrual, spending and other activity for the three months ended March 31, 2018 and the accrual balance remaining at March 31, 2018 related to these programs were as follows:
(In millions) |
Restructuring accrual at December 31, 2017 | $ | 16.1 |
Accrual and accrual adjustments | 8.6 |
Cash payments during 2018 | (4.1 | )
Effect of changes in foreign currency exchange rates | 0.3 |
Restructuring accrual at March 31, 2018 | $ | 20.9 |
We expect to pay $20.6 million of the accrual balance remaining at March 31, 2018 within the next twelve months. This amount is included in accrued restructuring costs on the Condensed Consolidated Balance Sheet at March 31, 2018. The remaining accrual of $0.3 million is expected to be paid in 2019. This amount is included in other non-current liabilities on our Condensed Consolidated Balance Sheet at March 31, 2018.

X
- References No definition available. + Details
Name: | us-gaap_RestructuringAndRelatedActivitiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 2 -Subparagraph (SAB Topic 5.P.4) -URI http://asc.fasb.org/extlink&oid=27011515&loc=d3e140904-122747 Reference 2: 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 3: 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
Name: | us-gaap_RestructuringAndRelatedActivitiesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration