Restructuring, Impairment and Other Charges

6 Months Ended

Jun. 29, 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 200 employees to date and the potential closure of certain manufacturing facilities. 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 closure of one during the second 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 June 29, 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	$	551		$	—		$	—	$	90		$	—	$	34	$	675
	2012 Plan	(9		)	118			139		158			—		480		886
	Residual Plans	—			—			—		384			123		111		618
	Acquisition Integration Plans	(57		)	(130		)	506		29			—		264		612
Total Print and Envelope		485			(12		)	645		661			123		889		2,791
Label and Packaging
	2013 Plan	24			—			—		—			—		—		24
	2012 Plan	—			—			—		—			—		9		9
	Residual Plans	—			—			—		(200		)	—		—		(200		)
Total Label and Packaging		24			—			—		(200		)	—		9		(167		)
Corporate
	2013 Plan	66			—			—		—			—		—		66
	Residual Plans	—			—			—		—			—		34		34
Total Corporate		66			—			—		—			—		34		100
Total Restructuring, Impairment and Other Charges		$	575		$	(12	)	$	645	$	461		$	123	$	932	$	2,724

Restructuring, impairment and other charges for the six months ended June 29, 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	$	1,342		$	—		$	10	$	90		$	—	$	34	$	1,476
	2012 Plan	(31		)	265			222		208			—		692		1,356
	Residual Plans	—			—			10		448			202		154		814
	Acquisition Integration Plans	461			(130		)	709		3			—		339		1,382
Total Print and Envelope		1,772			135			951		749			202		1,219		5,028
Label and Packaging
	2013 Plan	170			—			—		—			—		—		170
	2012 Plan	1			—			—		—			—		13		14
	Residual Plans	(4		)	—			—		(188		)	—		—		(192		)
Total Label and Packaging		167			—			—		(188		)	—		13		(8		)
Corporate
	2013 Plan	1,791			—			—		—			—		21		1,812
	Residual Plans	23			—			—		—			—		51		74
Total Corporate		1,814			—			—		—			—		72		1,886
Total Restructuring, Impairment and Other Charges		$	3,753		$	135		$	951	$	561		$	202	$	1,304	$	6,906

2012 Activity

Restructuring, impairment and other charges for the three months ended June 30, 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	$	855	$	345	$	417	$	336		$	—	$	1,027	$	2,980
	Residual Plans	280		—		39		134			74		430		957
	Acquisition Integration Plans	181		32		7		20			—		94		334
Total Print and Envelope		1,316		377		463		490			74		1,551		4,271
Label and Packaging
	2012 Plan	28		—		—		—			—		—		28
	Residual Plans	161		—		—		(138		)	—		4		27
Total Label and Packaging		189		—		—		(138		)	—		4		55
Corporate
	Residual Plans	—		—		—		—			—		28		28
Total Corporate		—		—		—		—			—		28		28
Total Restructuring, Impairment and Other Charges		$	1,505	$	377	$	463	$	352		$	74	$	1,583	$	4,354

Restructuring, impairment and other charges for the six months ended June 30, 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	$	2,244	$	6,634	$	512		$	336	$	5,400		$	1,071	$	16,197
	Residual Plans	339		—		39			214		(482		)	857		967
	Acquisition Integration Plans	296		32		45			51		—			169		593
Total Print and Envelope		2,879		6,666		596			601		4,918			2,097		17,757
Label and Packaging
	2012 Plan	77		—		6			—		—			11		94
	Residual Plans	356		—		—			52		—			4		412
	Acquisition Integration Plans	—		—		(4		)	—		—			—		(4		)
Total Label and Packaging		433		—		2			52		—			15		502
Corporate
	Residual Plans	—		—		—			—		—			117		117
Total Corporate		—		—		—			—		—			117		117
Total Restructuring, Impairment and Other Charges		$	3,312	$	6,666	$	598		$	653	$	4,918		$	2,229	$	18,376

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	3,303			90			—			65			3,458
Payments	(2,218		)	(13		)	—			(65		)	(2,296		)
Balance as of June 29, 2013	$	1,085		$	77		$	—		$	—		$	1,162
2012 Plan
Balance as of December 29, 2012	$	1,199		$	493		$	5,400		$	—		$	7,092
Accruals, net	(30		)	208			—			927			1,105
Payments	(829		)	(293		)	—			(927		)	(2,049		)
Balance as of June 29, 2013	$	340		$	408		$	5,400		$	—		$	6,148
Residual Plans
Balance as of December 29, 2012	$	127		$	2,017		$	19,519		$	—		$	21,663
Accruals, net	19			260			202			215			696
Payments	(146		)	(845		)	(1,506		)	(215		)	(2,712		)
Balance as of June 29, 2013	$	—		$	1,432		$	18,215		$	—		$	19,647
Acquisition Integration Plans
Balance as of December 29, 2012	$	298		$	1,088		$	—		$	—		$	1,386
Accruals, net	461			3			—			1,048			1,512
Payments	(375		)	(245		)	—			(1,048		)	(1,668		)
Balance as of June 29, 2013	$	384		$	846		$	—		$	—		$	1,230