SEC Info - Aptargroup Inc - ‘10-Q’ for 9/30/19

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Aptargroup Inc – ‘10-Q’ for 9/30/19 – ‘R15’

On: Friday, 11/1/19, at 1:53pm ET · For: 9/30/19 · Accession #: 1558370-19-9675 · File #: 1-11846

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

11/01/19  Aptargroup Inc                    10-Q        9/30/19   92:15M                                    Toppan Merrill Bridge/FA

Quarterly Report — Form 10-Q — Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q        Quarterly Report                                    HTML   2.26M 
 2: EX-31.1     Certification -- §302 - SOA'02                      HTML     36K 
 3: EX-31.2     Certification -- §302 - SOA'02                      HTML     38K 
 4: EX-32.1     Certification -- §906 - SOA'02                      HTML     27K 
 5: EX-32.2     Certification -- §906 - SOA'02                      HTML     27K 
56: R1          Document and Entity Information                     HTML     80K 
25: R2          Consolidated Statements of Income                   HTML    106K 
37: R3          Consolidated Statements of Comprehensive Income     HTML     69K 
82: R4          Consolidated Balance Sheets                         HTML    145K 
55: R5          Consolidated Balance Sheets (Parenthetical)         HTML     38K 
22: R6          Consolidated Statements of Changes in Equity        HTML     81K 
36: R7          Consolidated Statements of Cash Flows               HTML    134K 
85: R8          Consolidated Statements of Cash Flows               HTML     38K 
                (Parenthetical)                                                  
53: R9          Summary of Significant Accounting Policies          HTML     74K 
62: R10         Revenue                                             HTML    158K 
91: R11         Inventories                                         HTML     40K 
39: R12         Goodwill and Other Intangible Assets                HTML    128K 
26: R13         Income Taxes                                        HTML     29K 
63: R14         Debt                                                HTML    120K 
92: R15         Lease Commitments                                   HTML    126K 
40: R16         Retirement and Deferred Compensation Plans          HTML     80K 
27: R17         Accumulated Other Comprehensive Income              HTML    151K 
64: R18         Derivative Instruments and Hedging Activities       HTML    258K 
90: R19         Fair Value                                          HTML     91K 
46: R20         Commitments and Contingencies                       HTML     32K 
11: R21         Stock Repurchase Program                            HTML     28K 
66: R22         Stock-Based Compensation                            HTML    139K 
74: R23         Earnings Per Share                                  HTML    104K 
47: R24         Segment Information                                 HTML    143K 
12: R25         Insurance Settlement Receivable                     HTML     29K 
67: R26         Acquisitions                                        HTML     84K 
75: R27         Restructuring Initiatives                           HTML     55K 
45: R28         Subsequent Events                                   HTML     29K 
13: R29         Summary of Significant Accounting Policies          HTML     88K 
                (Policies)                                                       
30: R30         Summary of Significant Accounting Policies          HTML     59K 
                (Tables)                                                         
42: R31         Revenue (Tables)                                    HTML    150K 
89: R32         Inventories (Tables)                                HTML     41K 
61: R33         Goodwill and Other Intangible Assets (Tables)       HTML    131K 
29: R34         Debt (Tables)                                       HTML    123K 
41: R35         Lease Commitments (Tables)                          HTML    130K 
88: R36         Retirement and Deferred Compensation Plans          HTML     78K 
                (Tables)                                                         
60: R37         Accumulated Other Comprehensive Income (Tables)     HTML    153K 
28: R38         Derivative Instruments and Hedging Activities       HTML    258K 
                (Tables)                                                         
44: R39         Fair Value (Tables)                                 HTML     86K 
16: R40         Stock-Based Compensation (Tables)                   HTML    140K 
49: R41         Earnings Per Share (Tables)                         HTML    103K 
81: R42         Segment Information (Tables)                        HTML    146K 
73: R43         Acquisitions (Tables)                               HTML     83K 
15: R44         Restructuring Initiatives (Tables)                  HTML     54K 
48: R45         SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Basis  HTML     33K 
                of Presentation (Details)                                        
80: R46         SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES -        HTML     53K 
                Adoption of ASU 2016-02 and ASU 2018-02 (Details)                
71: R47         Summary of Significant Accounting Policies          HTML     64K 
                (Details)                                                        
14: R48         REVENUE - Revenue by Geographic Segment (Details)   HTML     59K 
50: R49         REVENUE - Contract Assets and Contract Liabilities  HTML     53K 
                (Details)                                                        
33: R50         Inventories (Details)                               HTML     34K 
19: R51         Goodwill and Other Intangible Assets (Schedule of   HTML     55K 
                Goodwill) (Details)                                              
58: R52         Goodwill and Other Intangible Assets (Summary of    HTML     79K 
                Intangible Assets) (Details)                                     
86: R53         Income Taxes Qtr (Details)                          HTML     43K 
34: R54         Debt (Details)                                      HTML    139K 
20: R55         LEASE COMMITMENTS - Components of Lease Expense     HTML     42K 
                (Details)                                                        
59: R56         LEASE COMMITMENTS - Supplemental Cash Flow          HTML     39K 
                Information (Details)                                            
87: R57         LEASE COMMITMENTS - Supplemental Balance Sheet      HTML     72K 
                Information (Details)                                            
32: R58         LEASE COMMITMENTS - Maturities of Lease             HTML     76K 
                Liabilities (Details)                                            
21: R59         Retirement and Deferred Compensation Plans          HTML     64K 
                (Details)                                                        
68: R60         Accumulated Other Comprehensive Income (Details)    HTML     53K 
77: R61         Accumulated Other Comprehensive Income              HTML     68K 
                (Reclassifications From Accumulated Other                        
                Comprehensive Income) (Details)                                  
51: R62         Derivative Instruments and Hedging Activities       HTML     54K 
                (Cash Flow Hedge) (Details)                                      
17: R63         Derivative Instruments and Hedging Activities       HTML     58K 
                (Fair Value of Derivative Instruments in the                     
                Consolidated Balance Sheets) (Details)                           
69: R64         Derivative Instruments and Hedging Activities       HTML     55K 
                (Effect of Derivative Instruments on the                         
                Consolidated Statements of Income) (Details)                     
78: R65         Derivative Instruments and Hedging Activities       HTML     50K 
                (Schedule of Derivative Assets and Liabilities)                  
                (Details)                                                        
52: R66         Fair Value (Details)                                HTML     54K 
18: R67         Commitments and Contingencies (Details)             HTML     48K 
70: R68         Stock Repurchase Program (Details)                  HTML     46K 
76: R69         Stock-Based Compensation (Details)                  HTML    191K 
84: R70         Earnings Per Share (Details)                        HTML     66K 
57: R71         Segment Information (Summary of Reportable          HTML     94K 
                Segments) (Details)                                              
24: R72         Insurance Settlement Receivable (Details)           HTML     37K 
38: R73         Acquisitions (Details)                              HTML    155K 
83: R74         Acquisitions (Acquired Intangibles) (Details)       HTML     41K 
54: R75         Acquisitions (Pro Forma) (Details)                  HTML     36K 
23: R76         Restructuring Initiative (Details)                  HTML     75K 
35: R77         Subsequent Events (Details)                         HTML     48K 
43: XML         IDEA XML File -- Filing Summary                      XML    171K 
79: XML         XBRL Instance -- atr-20190930x10qe4fc98_htm          XML   4.86M 
72: EXCEL       IDEA Workbook of Financial Reports                  XLSX    116K 
 7: EX-101.CAL  XBRL Calculations -- atr-20190930_cal                XML    279K 
 8: EX-101.DEF  XBRL Definitions -- atr-20190930_def                 XML    811K 
 9: EX-101.LAB  XBRL Labels -- atr-20190930_lab                      XML   1.87M 
10: EX-101.PRE  XBRL Presentations -- atr-20190930_pre               XML   1.33M 
 6: EX-101.SCH  XBRL Schema -- atr-20190930                          XSD    195K 
31: JSON        XBRL Instance as JSON Data -- MetaLinks              462±   723K 
65: ZIP         XBRL Zipped Folder -- 0001558370-19-009675-xbrl      Zip    391K

‘R15’ — Lease Commitments

This is an IDEA Financial Report. [ Alternative Formats ]

LEASE COMMITMENTS

9 Months Ended

Sep. 30, 2019

LEASE COMMITMENTS

LEASE COMMITMENTS

NOTE 7 – LEASE COMMITMENTS

We lease certain warehouse, plant and office facilities as well as certain equipment under noncancelable operating and finance leases expiring at various dates through the year 2028. Most of the operating leases contain renewal options and certain leases include options to purchase the related asset during or at the end of the lease term.

Amortization expense related to finance leases is included in depreciation expense while rent expense related to operating leases is included within cost of sales and selling research & development and administrative expenses (“SG&A”). Rent expense related to operating leases (including taxes, insurance and maintenance when included in the rent) amounted to $8.3 million and $24.2 million in the three and nine months ended September 30, 2018, respectively, under the old lease accounting standard.

The components of lease expense for the current period were as follows:


	Three Months Ended		Nine Months Ended
	September 30, 2019		September 30, 2019
Operating lease cost	$	6,001	$	17,442

Finance lease cost:
Amortization of right-of-use assets	$	1,165	$	3,041
Interest on lease liabilities		344		984
Total finance lease cost	$	1,509	$	4,025

Short-term lease and variable lease costs	$	1,757	$	6,027

Supplemental cash flow information related to leases was as follows:


Nine Months Ended September 30,	2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	15,874
Operating cash flows from finance leases		877
Financing cash flows from finance leases		3,365

Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	11,673
Finance leases		12,401

Supplemental balance sheet information related to leases was as follows:


	September 30, 2019
Operating Leases
Operating lease right-of-use assets	$	72,481

Accounts payable and accrued liabilities	$	16,351
Operating lease liabilities		55,278
Total operating lease liabilities	$	71,629

Finance Leases
Property, plant and equipment, gross	$	43,042
Accumulated depreciation		(3,125)
Property, plant and equipment, net	$	39,917

Current maturities of long-term obligations, net of unamortized debt issuance cost	$	3,856
Long-term obligations, net of unamortized debt issuance cost		23,701
Total finance lease liabilities	$	27,557

Weighted Average Remaining Lease Term (in years)
Operating leases		6.0
Finance leases		7.1

Weighted Average Discount Rate
Operating leases		5.06	%
Finance leases		5.34	%

Maturities of lease liabilities as of September 30, 2019, were as follows:


	Operating		Finance
	Leases		Leases
Year 1	$	19,113	$	5,028
Year 2		15,763		4,470
Year 3		11,167		3,659
Year 4		9,515		2,794
Year 5		7,177		2,340
Thereafter		21,337		17,433
Total lease payments		84,072		35,724
Less imputed interest		(12,443)		(8,167)
Total	$	71,629	$	27,557

Maturities of lease liabilities as of December 31, 2018 under the old lease accounting standard were as follows:


	Operating		Capital
	Leases		Leases
Year 1	$	26,512	$	1,828
Year 2		21,386		1,653
Year 3		16,529		1,546
Year 4		12,549		1,160
Year 5		10,225		880
Thereafter		21,932		3,827
Total lease payments	$	109,133		10,894
Less imputed interest				(2,541)
Present value of future lease payments			$	8,353

As of September 30, 2019, we have additional operating and finance leases, primarily for buildings, that have not yet commenced of $3.8 million. These operating and finance leases will commence in years 2019 and 2020 with lease terms of 3 to 10 years.

Dates Referenced Herein and Documents Incorporated by Reference

This ‘10-Q’ Filing	Date	Other Filings

Filed on:	11/1/19
For Period end:	9/30/19
	12/31/18	10-K, 11-K, SD
	9/30/18	10-Q
		List all Filings

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Filing Submission 0001558370-19-009675 – Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)