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Restructuring and Asset Impairment (Tables)

9 Months Ended

Oct. 03, 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												Nine Months Ended
						October 3, 2021						September 27, 2020						October 3, 2021						September 27, 2020
Restructuring and restructuring-related asset impairment charges						$	3,204					$	24,149					$	4,048					$	59,633
Other asset impairments						284						—						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 Ended												Nine Months Ended
						October 3, 2021						September 27, 2020						October 3, 2021						September 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 Costs						1,200						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 Ended												Nine Months Ended
						October 3, 2021						September 27, 2020						October 3, 2021						September 27, 2020
Consumer Packaging						$	2,450					$	16,498					$	3,708					$	20,707
Industrial Paper Packaging						(1,888)						6,990						(4,827)						30,189
All Other						555						762						3,075						6,727
Corporate						2,087						(101)						2,092						2,010
Restructuring and restructuring-related asset impairment charges						$	3,204					$	24,149					$	4,048					$	59,633

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/(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

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- References

No definition available.

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- 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

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- 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

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