Restructuring and Exit Costs

9 Months Ended

Jul. 30, 2011

Restructuring and Exit Costs [Abstract]

Restructuring and Related Activities Disclosure [Text Block]

Restructuring and Exit Costs

Restructuring and exit costs were recorded in the consolidated statements of operations as follows:

	Three Months Ended						Nine Months Ended
	July 30, 2011			July 31, 2010			July 30, 2011			July 31, 2010
Restructuring and exit costs:
Custom Sheet and Rollstock	$	(86	)	$	537		$	372		$	1,390
Packaging Technologies	—			—			247			(719		)
Color and Specialty Compounds	260			2,309			925			4,412
Corporate	—			56			6			85
Total restructuring and exit costs	174			2,902			1,550			5,168
Income tax (benefit)	(64		)	(1,088		)	(574		)	(1,936		)
Impact on net earnings from continuing operations	$	110		$	1,814		$	976		$	3,232

2008 Restructuring Plan

In 2008, the Company announced a restructuring plan to address declines in end-market demand and to build a low cost-to-serve model. The plan included the consolidation of production facilities, shut-down of underperforming and non-core operations and reductions in the number of manufacturing and administrative jobs. During the first quarter of 2010, the Company sold one of these closed facilities that was previously included in the Packaging Technologies segment and recorded a $711 gain on the sale. The remaining closed facilities owned by the Company have been classified as assets held for sale and the Company is currently trying to liquidate.

The following table summarizes the cumulative restructuring and exit costs incurred to date under the 2008 restructuring plan:

	Cumulative		Nine Months Ended			Cumulative
	through 2010		July 30, 2011			To-Date
Employee severance	$	5,798	$	494		$	6,292
Facility consolidation and shut-down costs	5,311		1,243			6,554
Fixed asset valuation adjustments, net	3,167		(187		)	2,980
Total	$	14,276	$	1,550		$	15,826

Employee severance includes costs associated with job eliminations and the reduction in jobs resulting from facility consolidations and shut-downs. Facility consolidation and shut-down costs primarily include costs associated with shutting down production facilities, terminating leases and relocating production lines to continuing production facilities. Fixed asset valuation adjustments, net represents the effect from accelerated depreciation for reduced lives on property, plant and equipment and adjustments to the carrying value of assets held-for-sale to fair value, net of gains or losses on the ultimate sales of the assets.

The Company expects to incur approximately $319 of additional restructuring and exit costs in continuing operations for initiatives announced through July 30, 2011, which will primarily consist of employee severance and facility consolidation and shut-down costs. The Company's announced facility consolidations and shut-downs are expected to be substantially complete by the end of the fiscal year.

The Company's total restructuring liability, representing severance and relocation costs, was $554 and $540 at July 30, 2011, and October 30, 2010, respectively. Cash payments for restructuring activities of continuing operations were $227 and $1,026 for the three and nine months ended July 30, 2011.