Rationalization Charges

3 Months Ended

Mar. 31, 2015

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 for the three months ended March 31 were as follows:



	2015		2014
	(Dollars in thousands)
Metal containers	$	—	$	—
Closures	336		626
Plastic containers	389		962
	$	725	$	1,588

Activity in reserves for our rationalization plans for the three months ended March 31 was as follows:



	Employee Severance and Benefits			Plant Exit Costs			Non-Cash Asset Write-Down			Total
	(Dollars in thousands)
Balance at December 31, 2014	$	6,052		$	316		$	—		$	6,368
Charged to expense	416			166			143			725
Utilized and currency translation	(2,950		)	(264		)	(143		)	(3,357		)
Balance at March 31, 2015	$	3,518		$	218		$	—		$	3,736

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

Remaining expenses and cash expenditures for our rationalization plans of $2.6 million and $6.8 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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