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Restructuring, Impairment and Other Charges
 12 Months Ended
Dec. 29, 2012
Restructuring Costs and Asset Impairment Charges [Abstract]  
Restructuring, Impairment and Other Charges [Text Block]
Restructuring, Impairment and Other Charges
Cost Savings, Restructuring and Integration Plans
 
The Company currently has two active cost savings, restructuring and integration plans: (i) the plan related to the implementation of cost savings initiatives along with the closure and consolidation of a print plant, which we refer to as the 2012 Plan, and (ii) the plan related to the integration of the EPG acquisition, which we refer to as the EPG Plan.

The Company currently has six residual cost savings, restructuring and integration plans: (i) the 2011 plan implemented by the print and envelope and the label and packaging segments for further cost savings initiatives, which we refer to as the Other Restructuring Plans, (ii) the plans related to the integration of the Nashua Corporation and Glyph acquisitions, collectively with the EPG Plan we refer to as the Acquisition Integration Plans, and (iii) the 2009 Cost Savings and Restructuring Plan, the 2007 Cost Savings and Integration Plan and the 2005 Cost Savings and Restructuring Plan, which collectively with the Other Restructuring Plans we refer to as the Residual Plans. As a result of these cost savings actions, over the last seven years the Company has closed or consolidated a significant amount of manufacturing facilities including, two manufacturing facilities in 2012 and five manufacturing facilities in 2011, and has had a significant number of headcount reductions, including approximately 900 employees in 2012.
2012 Plan
In 2012, the Company announced the closure and consolidations of a print plant and an envelope plant into its existing print operations. Additionally, the Company began implementing a cost savings initiative, which primarily focused on the Company's print and envelope segment and corporate expenses. This initiative will focus on the consolidation of office and warehouse space and other overhead cost elimination plans, including headcount reductions. The Company expects to be substantially complete with the 2012 Plan in 2013.
Residual Plans

In 2011, the Other Restructuring Plans were implemented for further cost savings initiatives in order to provide enhanced customer service, centralize various back office functions or rationalize business. These Other Restructuring Plans also include the realignment of certain manufacturing platforms, which has resulted in the closure and consolidation of two commercial printing plants into our existing operations. The Company completed these initiatives in 2012.
The Company developed and implemented three other a cost savings and restructuring plans. The 2009 Cost Savings and Restructuring Plan to reduce its operating costs and realign its manufacturing platform in order to compete effectively during the economic downturn. As part of this plan, the Company continued to implement cost savings initiatives throughout its operations, closed and consolidated manufacturing facilities into existing operations and reduced headcount. The 2007 Cost Savings and Integration Plan, which related to acquisitions that took place that year. As part of this plan, the Company closed and consolidated manufacturing facilities into existing or acquired operations and reduced headcount. The 2005 Cost Savings and Restructuring Plan was developed and implemented as a result of a new senior management team, which included consolidating purchasing activities and manufacturing platform, reducing corporate and field human resources, streamlining information technology infrastructure and eliminating discretionary spending. As part of this plan, the Company, closed and consolidated manufacturing facilities into existing operations and reduced headcount. The cumulative total costs incurred through the year ended 2012 related to these plans for print and envelope, label and packaging and corporate were approximately $236.5 million, $26.6 million and $36.6 million, respectively. The Company completed the implementation of these plans and does not anticipate any future expenses related to this plan as all liabilities incurred with this plan have been settled, other than modifications to its current assumptions for lease terminations, multi-employer pension withdrawal liabilities and ongoing expenses related to maintaining restructured assets.


Acquisition Integration Plans
Upon the completion of the EPG acquisition, the Company developed and implemented its plan to integrate EPG into its existing envelope operations. Since the date of acquisition, activities related to the EPG Plan have included the closure and consolidation of four manufacturing facilities into the Company's existing operations and the elimination of duplicative headcount. Upon the acquisition of Glyph, the Company developed and implemented its plan to integrate Glyph into its existing operations. In 2010, these activities have included the elimination of duplicative headcount and the closure of a sales office. Upon the acquisition of Nashua, the Company developed and implemented its plan to integrate Nashua into its existing operations. Since the acquisition date, activities related to Nashua have included the closure and consolidation of two manufacturing facilities into existing operations and elimination of duplicative headcount and public company costs. The cumulative total costs incurred through the year ended 2012 related to these plans for print and envelope, label and packaging were approximately $9.0 million and $6.5 million, respectively. The Company completed the Nashua and Glyph plans and does not anticipate any significant future expenses, other than modifications to its current assumptions for lease terminations and ongoing expenses related to maintaining restructured assets. The Company has substantially completed the integration of EPG, but may have additional closure or consolidation of manufacturing facilities and further headcount reductions.
Goodwill and Other Long-Lived Asset Impairments
2010
In the third quarter of 2010, the Company recorded non-cash, impairment charges of $132.2 million related to goodwill and $49.2 million related to other long-lived assets, of which $22.0 million related to an indefinite lived trade name and $27.2 million related to customer relationships.
The following tables present the details of the expenses recognized as a result of these plans.

2012 Activity
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Restructuring, impairment and other charges for the year ended 2012 were as follows (in thousands):
 
 
Employee
Separation
Costs
 
Asset Impairments
net of gain on sale
 
Equipment
Moving
Expenses
 
Lease
Termination
Expenses
 
Multi-employer Pension
Withdrawal Expenses
 
Building
Clean-up &
Other
Expenses
 
Total
Print and Envelope
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2012 Plan
$
4,234

 
$
6,661

 
$
607

 
$
656

 
$
5,400

 
$
1,639

 
$
19,197

 
Residual Plans
520

 
535

 
47

 
273

 
(318
)
 
1,298

 
2,355

 
Acquisition Integration Plans
1,029

 
1,199

 
414

 
172

 
—

 
679

 
3,493

Total Print and Envelope
5,783

 
8,395

 
1,068

 
1,101

 
5,082

 
3,616

 
25,045

Label and Packaging
 

 
 

 
 

 
 

 
 

 
 

 
 

 
2012 Plan
778

 
—

 
6

 
—

 
—

 
13

 
797

 
Residual Plans
364

 
—

 
—

 
58

 
—

 
4

 
426

 
Acquisition Integration Plans
—

 
—

 
(4
)
 
—

 
—

 
—

 
(4
)
Total Label and Packaging
1,142

 
—

 
2

 
58

 
—

 
17

 
1,219

Corporate
 
 

 
 

 
 

 
 

 
 

 
 

 
 

 
2012 Plan
646

 
—

 
—

 
—

 
—

 
—

 
646

 
Residual Plans
—

 
—

 
—

 
—

 
—

 
190

 
190

Total Corporate
646

 
—

 
—

 
—

 
—

 
190

 
836

Total Restructuring, Impairment and Other Charges
$
7,571

 
$
8,395

 
$
1,070

 
$
1,159

 
$
5,082

 
$
3,823

 
$
27,100



 
 
 
 
 
 
 
 
 
 
 
 
 
 
 








2011 Activity

Restructuring, impairment and other charges for the year ended 2011 were as follows (in thousands):
 
 
Employee
Separation
Costs
 
Asset Impairments
net of gain on sale
 
Equipment
Moving
Expenses
 
Lease
Termination
Expenses
 
Multi-employer Pension
Withdrawal Expenses
 
Building
Clean-up &
Other
Expenses
 
Total
Print and Envelope
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Residual Plans
$
884

 
$
2,121

 
$
649

 
$
2,550

 
$
1,437

 
$
2,931

 
$
10,572

 
Acquisition Integration Plans
2,091

 
722

 
1,822

 
101

 
—

 
520

 
5,256

Total Print and Envelope
2,975

 
2,843

 
2,471

 
2,651

 
1,437

 
3,451

 
15,828

Label and Packaging
 

 
 

 
 

 
 

 
 

 
 

 
 

 
Residual Plans
1,091

 
—

 
1

 
(148
)
 
—

 
(25
)
 
919

 
Acquisition Integration Plans
39

 
130

 
76

 
6

 
—

 
175

 
426

Total Label and Packaging
1,130

 
130

 
77

 
(142
)
 
—

 
150

 
1,345

Corporate
 
 

 
 

 
 

 
 

 
 

 
 

 
 

 
Residual Plans
225

 
—

 
—

 
82

 
—

 
332

 
639

Total Corporate
225

 
—

 
—

 
82

 
—

 
332

 
639

Total Restructuring, Impairment and Other Charges
$
4,330

 
$
2,973

 
$
2,548

 
$
2,591

 
$
1,437

 
$
3,933

 
$
17,812

2010 Activity

Restructuring, impairment and other charges for the year ended 2010 were as follows (in thousands):
 
 
Employee
Separation
Costs
 
Asset Impairments
net of gain on sale
 
Equipment
Moving
Expenses
 
Lease
Termination
Expenses
 
Multi-employer Pension
Withdrawal Expenses
 
Building
Clean-up &
Other
Expenses
 
Total
Print and Envelope
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Residual Plans
$
4,978

 
$
4,002

 
$
2,367

 
$
5,829

 
$
8,792

 
$
5,719

 
$
31,687

 
Acquisition Integration Plans
78

 
—

 
—

 
164

 
—

 
—

 
242

Subtotal
 
5,056

 
4,002

 
2,367

 
5,993

 
8,792

 
5,719

 
31,929

 
Asset Impairments
—

 
181,419

 
—

 
—

 
—

 
—

 
181,419

Total Print and Envelope
5,056

 
185,421

 
2,367

 
5,993

 
8,792

 
5,719

 
213,348

Label and Packaging
 

 
 

 
 

 
 

 
 

 
 

 
 

 
Residual Plans
2,969

 
13

 
40

 
1,388

 
—

 
440

 
4,850

 
Acquisition Integration Plans
1,451

 
1,830

 
721

 
197

 
—

 
708

 
4,907

Total Label and Packaging
4,420

 
1,843

 
761

 
1,585

 
—

 
1,148

 
9,757

Corporate
 
 

 
 

 
 

 
 

 
 

 
 

 
 

 
Residual Plans
1,780

 
—

 
—

 
651

 
—

 
614

 
3,045

Total Corporate
1,780

 
—

 
—

 
651

 
—

 
614

 
3,045

Total Restructuring, Impairment and Other Charges
$
11,256

 
$
187,264

 
$
3,128

 
$
8,229

 
$
8,792

 
$
7,481

 
$
226,150

A summary of the activity related to the restructuring liabilities for all the cost savings, restructuring and integration initiatives were as follows (in thousands):

 
Employee Separation Cost
 
Lease Termination
 
Pension
Withdrawal
Liabilities
 
Building Clean-up,
Equipment Moving
and Other Expenses
 
Total
2012 Plan
 
 
 
 
 
 
 
 
 
Balance as of the year ended 2011
$
—

 
$
—

 
$
—

 
$
—

 
$
—

Accruals, net
5,658

 
656

 
5,400

 
2,265

 
13,979

Payments
(4,459
)
 
(163
)
 
—

 
(2,265
)
 
(6,887
)
Balance as of the year ended 2012
$
1,199

 
$
493

 
$
5,400

 
$
—

 
$
7,092

 
 
 
 
 
 
 
 
 
 
Residual Plans
 
 
 
 
 
 
 
 
 
Balance as of the year ended 2010
$
1,333

 
$
6,469

 
$
22,788

 
$
—

 
$
30,590

Accruals, net
2,200

 
2,484

 
1,437

 
3,888

 
10,009

Payments
(2,462
)
 
(5,149
)
 
(1,687
)
 
(3,888
)
 
(13,186
)
Balance as of the year ended 2011
1,071

 
3,804

 
22,538

 
—

 
27,413

Accruals, net
884

 
331

 
(318
)
 
1,539

 
2,436

Payments
(1,828
)
 
(2,118
)
 
(2,701
)
 
(1,539
)
 
(8,186
)
Balance as of the year ended 2012
$
127

 
$
2,017

 
$
19,519

 
$
—

 
$
21,663

 
 
 
 
 
 
 
 
 
 
Acquisition Integration Plans
 
 
 
 
 
 
 
 
 
Balance as of the year ended 2010
$
227

 
$
1,643

 
$
—

 
$
—

 
$
1,870

Accruals, net
2,130

 
107

 
$
—

 
2,593

 
4,830

Payments
(1,865
)
 
(404
)
 
$
—

 
(2,593
)
 
(4,862
)
Balance as of the year ended 2011
492

 
1,346

 
$
—

 
—

 
1,838

Accruals, net
1,029

 
172

 
—

 
1,089

 
2,290

Payments
(1,223
)
 
(430
)
 
—

 
(1,089
)
 
(2,742
)
Balance as of the year ended 2012
$
298

 
$
1,088

 
$
—

 
$
—

 
$
1,386