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RESTRUCTURING INITIATIVES
 3 Months Ended
Mar. 31, 2019
RESTRUCTURING INITIATIVES.  
RESTRUCTURING INITIATIVES

NOTE 19 – RESTRUCTURING INITIATIVES

In late 2017, we began a business transformation to drive profitable sales growth, increase operational excellence, enhance our approach to innovation and improve organizational effectiveness.  The primary focus of the plan is the Beauty + Home segment; however, certain global general and administrative functions will also be addressed.  For the three months ended March 31, 2019 and 2018, we recognized $9.5 million and $5.9 million of restructuring costs related to this plan, respectively.  Using current exchange rates, we estimate total implementation costs of approximately $90 million over three years, including costs that have been recognized to date. The cumulative expense incurred as of March 31, 2019 was $75.6 million.  We also anticipate making capital investments related to the transformation plan of approximately $55 million, of which the majority will be in 2019.

As of March 31, 2019 we have recorded the following activity associated with the business transformation:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

Beginning

    

Net Charges for

    

 

 

    

 

 

    

Ending

 

 

 

Reserve at

 

the Three Months

 

 

 

 

 

 

 

Reserve at

 

 

 

12/31/2018

 

Ended 3/31/2019

 

Cash Paid

 

FX Impact

 

3/31/2019

 

Employee severance

 

$

3,934

 

$

2,360

 

$

(750)

 

$

(36)

 

$

5,508

 

Professional fees and other costs

 

 

11,101

 

 

7,170

 

 

(14,892)

 

 

(19)

 

 

3,360

 

Totals

 

$

15,035

 

$

9,530

 

$

(15,642)

 

$

(55)

 

$

8,868