Restructuring, Impairment and Other Charges

3 Months Ended

Mar. 30, 2013

Restructuring Costs and Asset Impairment Charges [Abstract]

Restructuring, Impairment and Other Charges [Text Block]

Restructuring, Impairment and Other Charges

2013 Plan

During the first quarter of 2013, the Company began implementing a cost savings initiative (the "2013 Plan"), which primarily focuses on overhead cost eliminations including headcount reductions of approximately 100 employees to date. The Company expects to be substantially complete with the 2013 Plan by the end of 2013.

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 (the "2012 Plan"), which primarily focused on the Company's print and envelope segment and corporate expenses. This initiative focused on the consolidation of office and warehouse space and other overhead cost elimination plans, including headcount reductions. The Company substantially completed the 2012 Plan during the first quarter of 2013.

Residual Plans

The Company currently has certain 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 ("the Other Restructuring Plans") and (ii) 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 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 and has had a significant number of headcount reductions. The Company does not anticipate any significant future expenses related to the Residual Plans, 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 Envelope Product Group ("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 five manufacturing facilities, including the announcement of one during the first quarter of 2013, into the Company's existing operations and the elimination of duplicative headcount. The Company has substantially completed the integration of EPG, but may have additional closure or consolidation of manufacturing facilities and further headcount reductions.

The following tables present the details of the expenses recognized as a result of these plans.

2013 Activity

Restructuring, impairment and other charges for the three months ended March 30, 2013 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
	2013 Plan	$	791		$	—	$	10	$	—		$	—	$	—	$	801
	2012 Plan	(22		)	147		83		50			—		212		470
	Residual Plans	—			—		10		64			79		43		196
	Acquisition Integration Plans	518			—		203		(26		)	—		75		770
Total Print and Envelope		1,287			147		306		88			79		330		2,237
Label and Packaging
	2013 Plan	146			—		—		—			—		—		146
	2012 Plan	1			—		—		—			—		4		5
	Residual Plans	(4		)	—		—		12			—		—		8
Total Label and Packaging		143			—		—		12			—		4		159
Corporate
	2013 Plan	1,725			—		—		—			—		21		1,746
	Residual Plans	23			—		—		—			—		17		40
Total Corporate		1,748			—		—		—			—		38		1,786
Total Restructuring, Impairment and Other Charges		$	3,178		$	147	$	306	$	100		$	79	$	372	$	4,182

2012 Activity

Restructuring, impairment and other charges for the three months ended March 31, 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	$	1,389	$	6,289	$	95		$	—	$	5,400		$	44	$	13,217
	Residual Plans	59		—		—			80		(556		)	427		10
	Acquisition Integration Plans	115		—		38			31		—			75		259
Total Print and Envelope		1,563		6,289		133			111		4,844			546		13,486
Label and Packaging
	2012 Plan	49		—		6			—		—			11		66
	Residual Plans	195		—		—			190		—			—		385
	Acquisition Integration Plans	—		—		(4		)	—		—			—		(4		)
Total Label and Packaging		244		—		2			190		—			11		447
Corporate
	Residual Plans	—		—		—			—		—			89		89
Total Corporate		—		—		—			—		—			89		89
Total Restructuring, Impairment and Other Charges		$	1,807	$	6,289	$	135		$	301	$	4,844		$	646	$	14,022

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
2013 Plan
Balance as of December 29, 2012	$	—		$	—		$	—		$	—		$	—
Accruals, net	2,662			—			—			31			2,693
Payments	(1,054		)	—			—			(31		)	(1,085		)
Balance as of March 30, 2013	$	1,608		$	—		$	—		$	—		$	1,608
2012 Plan
Balance as of December 29, 2012	$	1,199		$	493		$	5,400		$	—		$	7,092
Accruals, net	(21		)	50			—			299			328
Payments	(505		)	(93		)	—			(299		)	(897		)
Balance as of March 30, 2013	$	673		$	450		$	5,400		$	—		$	6,523
Residual Plans
Balance as of December 29, 2012	$	127		$	2,017		$	19,519		$	—		$	21,663
Accruals, net	19			76			79			70			244
Payments	(60		)	(368		)	(751		)	(70		)	(1,249		)
Balance as of March 30, 2013	$	86		$	1,725		$	18,847		$	—		$	20,658
Acquisition Integration Plans
Balance as of December 29, 2012	$	298		$	1,088		$	—		$	—		$	1,386
Accruals, net	518			(26		)	—			278			770
Payments	(142		)	(120		)	—			(278		)	(540		)
Balance as of March 30, 2013	$	674		$	942		$	—		$	—		$	1,616