Restructuring and Other Charges

3 Months Ended

Apr. 01, 2017

Restructuring and Related Activities [Abstract]

The Company currently has two active cost savings, restructuring and integration plans, which are related to the implementation of cost savings initiatives focused on overhead cost eliminations, including headcount reductions, and the potential closure of certain manufacturing facilities (the "2017 Plan," and the "2016 Plan"). Each plan is primarily associated with a specific fiscal year of the planned cost actions.

During 2016, the Company began implementing the 2017 Plan and continued activity under the 2016 Plan. The Company is still contemplating additional cost actions that would be associated with the 2017 Plan. The Company expects to be substantially complete with the 2016 Plan and the 2017 Plan in the 2017 fiscal year and the 2018 fiscal year, respectively. The Company currently has certain residual actions associated with finalizing prior restructuring and acquisition plans (the "Residual Plans"). As a result of these cost savings actions over the last several 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 current assumptions for lease terminations, multi-employer pension withdrawal liabilities and ongoing expenses related to maintaining restructured assets.

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

2017 Activity

Restructuring and other charges for the three months ended April 1, 2017 were as follows (in thousands):




		Employee Separation Costs			Asset Charges Net of Gain on Sale			Equipment Moving Expenses		Lease Termination Expenses		Multi-Employer Pension Withdrawal Expenses		Building Clean-up & Other Expenses			Total
Envelope
	2017 Plan	$	575		$	450		$	29	$	27	$	—	$	25		$	1,106
	2016 Plan	(33		)	(2		)	47		18		—		70			100
	Residual Plans	—			—			—		—		—		3			3
Total Envelope		542			448			76		45		—		98			1,209
Print
	2017 Plan	226			668			113		9		4,933		389			6,338
	Residual Plans	—			—			—		—		262		45			307
Total Print		226			668			113		9		5,195		434			6,645
Label
	2017 Plan	(169		)	—			—		—		—		—			(169		)
	2016 Plan	(17		)	—			—		—		—		—			(17		)
	Residual Plans	(196		)	—			—		—		—		(15		)	(211		)
Total Label		(382		)	—			—		—		—		(15		)	(397		)
Corporate
	2017 Plan	710			—			—		—		—		13			723
Total Corporate		710			—			—		—		—		13			723
Total Restructuring and Other Charges		$	1,096		$	1,116		$	189	$	54	$	5,195	$	530		$	8,180

2016 Activity

Restructuring and other charges for the three months ended April 2, 2016 were as follows (in thousands):




		Employee Separation Costs			Asset Charges Net of Gain on Sale		Equipment Moving Expenses		Lease Termination Expenses		Multi-Employer Pension Withdrawal Expenses		Building Clean-up & Other Expenses		Total
Envelope
	2016 Plan	$	65		$	—	$	—	$	—	$	—	$	—	$	65
	Residual Plans	7			—		276		—		47		120		450
Total Envelope		72			—		276		—		47		120		515
Print
	2016 Plan	4			—		—		—		—		—		4
	Residual Plans	(1		)	—		—		40		222		43		304
Total Print		3			—		—		40		222		43		308
Label
	2016 Plan	28			—		—		—		—		—		28
	Residual Plans	563			—		—		—		—		1,264		1,827
	Asset Impairments	—			2,300		—		—		—		—		2,300
Total Label		591			2,300		—		—		—		1,264		4,155
Corporate
	2016 Plan	—			—		—		—		—		3		3
	Residual Plans	—			—		—		—		—		9		9
Total Corporate		—			—		—		—		—		12		12
Total Restructuring and Other Charges		$	666		$	2,300	$	276	$	40	$	269	$	1,439	$	4,990

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 Costs			Lease Termination Expenses			Multi-Employer Pension Withdrawal Expenses			Building Clean-up, Equipment Moving and Other Expenses			Total
2017 Plan
Balance as of December 31, 2016	$	2,000		$	—		$	—		$	—		$	2,000
Accruals, net	1,342			36			4,933			569			6,880
Payments	(996		)	(36		)	—			(569		)	(1,601		)
Balance as of April 1, 2017	$	2,346		$	—		$	4,933		$	—		$	7,279

2016 Plan
Balance as of December 31, 2016	$	844		$	—		$	—		$	—		$	844
Accruals, net	(50		)	18			—			117			85
Payments	(563		)	(18		)	—			(117		)	(698		)
Balance as of April 1, 2017	$	231		$	—		$	—		$	—		$	231

Residual Plans
Balance as of December 31, 2016	$	247		$	—		$	17,482		$	359		$	18,088
Accruals, net	(196		)	—			262			33			99
Payments	(37		)	—			(1,211		)	(332		)	(1,580		)
Balance as of April 1, 2017	$	14		$	—		$	16,533		$	60		$	16,607

Total Restructuring Liability	$	2,591		$	—		$	21,466		$	60		$	24,117

As of April 1, 2017, the total restructuring liability was $24.1 million, of which $4.5 million is included in other current liabilities and $19.6 million is included in other liabilities in the Company's condensed consolidated balance sheet.