Restructuring Charges

9 Months Ended

Jul. 31, 2011

NOTE 7 — RESTRUCTURING CHARGES

The following is a reconciliation of the beginning and ending restructuring reserve balances for the nine month period ended July 31, 2011 (Dollars in thousands):


							Non-cash
	Cash Charges						Charges
	Employee
	Separation						Asset
	Costs			Other Costs			Impairments			Total

Balance at October 31, 2010	$	12,668		$	7,570		$	—		$	20,238
Costs incurred and charged to expense		6,197			4,841			369			11,407
Costs paid or otherwise settled		(11,453	)		(6,008	)		(110	)		(17,571	)


Balance at July 31, 2011	$	7,412		$	6,403		$	259		$	14,074

The focus for restructuring activities in 2011 continues to be on the integration of recent acquisitions in the Rigid Industrial Packaging & Services and Flexible Products & Services segments. During the first nine months of 2011, the Company recorded restructuring charges of $11.4 million, which compares to $20.7 million of restructuring charges during the first nine months of 2010. The restructuring activity for the nine month period ended July 31, 2011 consisted of $6.2 million in employee separation costs, $0.4 million in asset impairments and $4.8 million in other costs. The $6.2 million in employee separation costs relates to the realignment of the Company’s management structure, plant closings and prior year acquisitions. The $4.8 million in other costs relates to professional fees and other administrative costs. The restructuring activity for the nine month period ended July 31, 2010 consisted of $11.4 million in employee separation costs, $2.4 million in asset impairments and $6.9 million in other costs.

The following is a reconciliation of the total amounts expected to be incurred from open restructuring plans which are anticipated to be realized in 2011 and 2012 or plans that are being formulated and have not been announced as of the date of this Form 10-Q (Dollars in thousands):


	Amounts Expected		Three months ended			Nine months ended			Amounts Remaining
	to be Incurred		July 31, 2011			July 31, 2011			to be Incurred
Rigid Industrial Packaging & Services
Employee separation costs	$	4,064	$	2,015		$	4,055		$	9
Asset impairments		333		—			333			—
Other restructuring costs		8,587		1,397			3,572			5,015

		12,984		3,412			7,960			5,024
Flexible Products & Services
Employee separation costs		2,834		652			2,834			—
Other restructuring costs		1,307		30			1,080			227

		4,141		682			3,914			227
Paper Packaging
Employee separation costs		—		(701	)		(685	)		—
Asset impairments		36		—			36			—
Other restructuring costs		189		3			189			—

		225		(698	)		(460	)		—
Land Management
Employee separation costs		—		—			(7	)		—

	$	17,350	$	3,396		$	11,407		$	5,251

The gain recognized within the Paper Packaging segment reflects actual expenditures being less than originally estimated for completed restructuring activities.