XML 38 R27.htm IDEA: XBRL DOCUMENT v3.21.2

Restructuring and Asset Impairment (Tables)

6 Months Ended

Jul. 04, 2021

Restructuring and Related Activities [Abstract]

Restructuring and restructuring-related asset impairment expenses by type incurred and by reportable segment

Following are the total restructuring and asset impairment charges, net of adjustments, recognized during the periods presented:

						Three Months Ended												Six Months Ended
						July 4, 2021						June 28, 2020						July 4, 2021						June 28, 2020
Restructuring and restructuring-related asset impairment (income)/charges						$	(1,853)					$	22,885					$	844					$	35,484
Other asset impairments						408						—						4,557						—
Restructuring/Asset Impairment (Income)/Charges						$	(1,445)					$	22,885					$	5,401					$	35,484

The table below sets forth restructuring and restructuring-related asset impairment charges by type incurred:

						Three Months Ended												Six Months Ended
						July 4, 2021						June 28, 2020						July 4, 2021						June 28, 2020
Severance and Termination Benefits						$	2,438					$	15,159					$	3,866					$	25,259
Asset Impairment / Disposal of Assets						(5,621)						6,073						(6,485)						8,759
Other Costs						1,330						1,653						3,463						1,466
Restructuring and restructuring-related asset impairment (income)/charges						$	(1,853)					$	22,885					$	844					$	35,484

The table below sets forth restructuring and restructuring-related asset impairment charges by reportable segment:

						Three Months Ended												Six Months Ended
						July 4, 2021						June 28, 2020						July 4, 2021						June 28, 2020
Consumer Packaging						$	173					$	2,007					$	1,258					$	4,209
Industrial Paper Packaging						(4,372)						17,689						(2,939)						23,199
All Other						2,355						2,606						2,520						5,965
Corporate						(9)						583						5						2,111
Restructuring and restructuring-related asset impairment (income)/charges						$	(1,853)					$	22,885					$	844					$	35,484

Restructuring accrual activity

The following table sets forth the activity in the restructuring accrual included in “Accrued expenses and other” on the Company’s Condensed Consolidated Balance Sheets:

						Severance and Termination Benefits						Asset Impairment/ Disposal of Assets						Other Costs						Total
Accrual Activity
Liability at December 31, 2020						$	15,955					$	—					$	511					$	16,466
2021 charges						3,866						(6,485)						3,463						844
Cash receipts/(payments)						(11,160)						10,279						(3,720)						(4,601)
Asset write downs/disposals						—						(3,794)						353						(3,441)
Foreign currency translation						(265)						—						1						(264)
Liability at July 4, 2021						$	8,396					$	—					$	608					$	9,004

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

Tabular disclosure of costs incurred for restructuring including, but not limited to, exit and disposal activities, remediation, implementation, integration, asset impairment, and charges against earnings from the write-down of assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-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=115931487&loc=d3e140864-122747

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-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

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-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=115931487&loc=d3e140904-122747

+ Details

Name:	us-gaap_ScheduleOfRestructuringAndRelatedCostsTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost. This element may also include a description of any reversal and other adjustment made during the period to the amount of an accrued liability for restructuring activities. This element may be used to encapsulate the roll forward presentations of an entity's restructuring reserve by type of cost and in total, and explanation of changes that occurred in the period.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 5.P.4(b)(2))
-URI http://asc.fasb.org/extlink&oid=115931487&loc=d3e140904-122747

+ Details

Name:	us-gaap_ScheduleOfRestructuringReserveByTypeOfCostTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration