NOTE 7 – RESTRUCTURING CHARGES

The following is a reconciliation of the beginning and ended restructuring reserve balances for the years ended October 31, 2015 and 2014 (Dollars in millions):


	Employee Separation Costs			Other costs			Total
Balance at October 31, 2013	$	1.8		$	1.2		$	3.0
Costs incurred and charged to expense		12.0			4.1			16.1
Costs paid or otherwise settled		(10.9	)		(4.1	)		(15.0	)

Balance at October 31, 2014	$	2.9		$	1.2		$	4.1

Costs incurred and charged to expense		27.8			12.2			40.0
Costs paid or otherwise settled		(16.0	)		(6.8	)		(22.8	)

Balance at October 31, 2015	$	14.7		$	6.6		$	21.3

The focus for restructuring activities in 2015 was to continue to rationalize operations and close underperforming assets throughout all segments. During the year ended October 31, 2015, the Company recorded restructuring charges of $40.0 million, which compares to $16.1 million of restructuring charges recorded during the year ended October 31, 2014. The restructuring activity for the year ended October 31, 2015 consisted of $27.8 million in employee separation costs and $12.2 million in other restructuring costs, primarily consisting of professional fees incurred for services specifically associated with employee separation and relocation. There were eight plants closed in 2015, and a total of 1,020 employees severed throughout 2015 as part of the Company’s restructuring efforts.

The following is a reconciliation of the total amounts expected to be incurred from open restructuring plans or plans that are being formulated and have not been announced as of the filing date of this Form 10-K. Remaining amounts expected to be incurred were $14.7 million as of October 31, 2015. (Dollars in millions):


	Total Amounts Expected to be Incurred		Amounts Incurred During the year ended October 31, 2015		Amounts Remaining to be Incurred
Rigid Industrial Packaging & Services:
Employee separation costs	$	27.4	$	21.7		5.7
Other restructuring costs		12.1		7.8		4.3

		39.5		29.5		10.0
Flexible Products & Services:
Employee separation costs		6.1		4.8		1.3
Other restructuring costs		6.7		3.3		3.4

		12.8		8.1		4.7
Paper Packaging
Employee separation costs		1.2		1.2		—
Other restructuring costs		1.1		1.1		—

		2.3		2.3		—
Land Management
Employee separation costs		0.1		0.1		—
Other restructuring costs		—		—		—

		0.1		0.1		—
	$	54.7	$	40.0	$	14.7

The focus for restructuring activities in 2014 was to rationalize operations and close underperforming assets in both the Flexible Products & Services and the Rigid Industrial Packaging & Services segments. During 2014, the Company recorded restructuring charges of $16.1 million, consisting of $12.0 million in employee separation costs and $4.1 million in other restructuring costs, primarily consisting of lease termination costs, professional fees and other miscellaneous exit costs. There were eight plants closed in 2014, and a total of 850 employees severed throughout 2014 as part of the Company’s restructuring efforts.

The focus for restructuring activities in 2013 was on the rationalization of operations and contingency actions in Rigid Industrial Packaging & Services. During 2013, the Company recorded restructuring charges of $4.8 million, consisting of $2.8 million in employee separation costs and $2.0 million in other restructuring costs, primarily consisting of lease termination costs, professional fees and other miscellaneous exit costs. There were no plants closed in 2013, but there was a total of 278 employees severed throughout 2013 as part of the Company’s restructuring efforts.