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Restructuring and Asset Impairment
 9 Months Ended
Oct. 03, 2021
Restructuring and Related Activities [Abstract]  
Restructuring and Asset Impairment Restructuring and Asset Impairment
Due to its geographic footprint and the cost-competitive nature of its businesses, the Company is continually seeking the most cost-effective means and structure to serve its customers and to respond to fundamental changes in its markets. As such, restructuring costs have been, and are expected to be, a recurring component of the Company's operating costs. The amount of these costs can vary significantly from quarter to quarter and from year to year depending upon the scope and location of the restructuring activities.
Following are the total restructuring and asset impairment charges, net of adjustments, recognized during the periods presented:
Three Months EndedNine Months Ended
October 3, 2021September 27, 2020October 3, 2021September 27, 2020
Restructuring and restructuring-related asset impairment charges$3,204 $24,149 $4,048 $59,633 
Other asset impairments284 — 4,841 — 
Restructuring/Asset Impairment Charges$3,488 $24,149 $8,889 $59,633 

The table below sets forth restructuring and restructuring-related asset impairment charges by type incurred:
Three Months EndedNine Months Ended
October 3, 2021September 27, 2020October 3, 2021September 27, 2020
Severance and Termination Benefits$3,726 $4,607 $7,592 $29,866 
Asset Impairments/(Gains from Disposal of Assets)(1,722)16,605 (8,207)25,364 
Other Costs1,200 2,937 4,663 4,403 
Restructuring and restructuring-related asset impairment charges$3,204 $24,149 $4,048 $59,633 

The table below sets forth restructuring and restructuring-related asset impairment charges/(gains) by reportable segment:
Three Months EndedNine Months Ended
October 3, 2021September 27, 2020October 3, 2021September 27, 2020
Consumer Packaging$2,450 $16,498 $3,708 $20,707 
Industrial Paper Packaging(1,888)6,990 (4,827)30,189 
All Other555 762 3,075 6,727 
Corporate2,087 (101)2,092 2,010 
Restructuring and restructuring-related asset impairment charges$3,204 $24,149 $4,048 $59,633 

Restructuring and asset impairment charges are included in “Restructuring/Asset impairment charges” in the Company's Condensed Consolidated Statements of Income.
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/(gains)7,592 (8,207)4,663 4,048 
Cash receipts/(payments)(14,790)13,442 (5,059)(6,407)
Asset write downs/disposals— (5,235)356 (4,879)
Foreign currency translation(294)— 1 (293)
Liability at October 3, 2021
$8,463 $— $472 $8,935 

"Severance and Termination Benefits" during the first nine months of 2021 includes the cost of severance for approximately 475 employees whose positions were eliminated in conjunction with the Company's ongoing organizational effectiveness efforts.
"Asset Impairment/Disposal of Assets" during the first nine months of 2021 consists primarily of gains from the sale of real estate in the Industrial Paper Packaging segment, and gains from the sale of other assets impaired in the prior year as a result of consolidations in the Company's plastics foods operations, partially offset by restructuring-related asset impairment charges in the Company's temperature-assured packaging business.
“Other Costs” during the first nine months of 2021 consists primarily of costs related to plant closures including equipment removal, utilities, plant security, property taxes and insurance.
The Company expects to pay the majority of the remaining restructuring reserves by the end of 2022 using cash generated from operations. The Company also expects to recognize future additional charges totaling approximately $1,800 in connection with previously announced restructuring actions and believes that the majority of these charges will be incurred and paid by the end of 2021. The Company continually evaluates its cost structure, including its manufacturing capacity, and additional restructuring actions are likely to be undertaken.
Other Asset Impairments
The Company recognized other asset impairment charges totaling $284 and $4,841 in the three and nine months ended October 3, 2021, respectively. The year-to-date charges consist of fixed asset impairments totaling $2,442 in the Company's plastics foods operations, part of the Consumer Packaging segment, and $2,399 in the temperature-assured packaging business, part of the All Other group of businesses. The assets were impaired as the value of their projected undiscounted cash flows was determined to no longer be sufficient to recover their carrying value.
These asset impairment charges are included in “Restructuring/Asset impairment charges” in the Company’s Condensed Consolidated Statements of Income.