Rationalization Charges

9 Months Ended

Sep. 30, 2014

Restructuring and Related Activities [Abstract]

We continually evaluate cost reduction opportunities across each of our businesses, including rationalizations of our existing facilities through plant closings and downsizings. We use a disciplined approach to identify opportunities that generate attractive cash returns. Rationalization charges by business segment were as follows:



	Three Months Ended				Nine Months Ended
	Sept. 30, 2014		Sept. 30, 2013		Sept. 30, 2014		Sept. 30, 2013
	(Dollars in thousands)
Metal containers	$	—	$	344	$	—	$	1,727
Closures	1,218		988		2,706		1,233
Plastic containers	1,310		—		2,272		656
	$	2,528	$	1,332	$	4,978	$	3,616

Activity in reserves for our rationalization plans for the nine months ended September 30, was as follows:



	Employee Severance and Benefits			Plant Exit Costs			Non-Cash Asset Write-Down			Total
	(Dollars in thousands)
Balance at December 31, 2013	$	4,116		$	1,418		$	—		$	5,534
Charged to expense	3,467			1,145			366			4,978
Utilized and currency translation	(5,442		)	(2,212		)	(366		)	(8,020		)
Balance at September 30, 2014	$	2,141		$	351		$	—		$	2,492

Rationalization reserves were included in the Condensed Consolidated Balance Sheets as accrued liabilities.

Remaining expenses and cash expenditures for our rationalization plans of $4.2 million and $6.7 million, respectively, are expected within the next twelve months.

- Definition

The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled.

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