AptarGroup (ATR) 10-Q 29 Apr 22 2022 Q1 Quarterly report Financial data

COVER

COVER - shares	3 Months Ended
	Mar. 31, 2022	Apr. 22, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2022
Entity File Number	1-11846
Entity Registrant Name	AptarGroup, Inc
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	36-3853103
Entity Address, Address Line One	265 EXCHANGE DRIVE
Entity Address, Address Line Two	SUITE 100
Entity Address, City or Town	CRYSTAL LAKE
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60014
City Area Code	815
Local Phone Number	477-0424
Title of 12(b) Security	Common Stock, $.01 par value
Trading Symbol	ATR
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		65,573,074
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Entity Central Index Key	0000896622
Amendment Flag	false

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Statement [Abstract]
Net Sales	$ 844,932	$ 776,754
Operating Expenses:
Cost of sales (exclusive of depreciation and amortization shown below)	542,728	488,705
Selling, research & development and administrative	145,541	134,348
Depreciation and amortization	58,665	57,438
Restructuring initiatives	291	3,672
​Total Operating Expenses	747,225	684,163
Operating Income	97,707	92,591
Other (Expense) Income:
Interest expense	(8,930)	(7,415)
Interest income	288	381
Net investment (loss) gain	(1,250)	16,809
Equity in results of affiliates	(86)	(515)
Miscellaneous, net	(1,103)	(963)
​Total Other (Expense) Income	(11,081)	8,297
Income before Income Taxes	86,626	100,888
Provision for Income Taxes	24,255	16,949
Net Income	62,371	83,939
Net Loss Attributable to Noncontrolling Interests	52	13
Net Income Attributable to AptarGroup, Inc.	$ 62,423	$ 83,952
Net Income Attributable to AptarGroup, Inc. per Common Share:
Basic (in dollars per share)	$ 0.95	$ 1.29
Diluted (in dollars per share)	$ 0.93	$ 1.24
Average Number of Shares Outstanding:
Basic (in shares)	65,543	65,229
Diluted (in shares)	67,146	67,648
Dividends per Common Share (in dollars per share)	$ 0.38	$ 0.36

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Comprehensive Income [Abstract]
Net Income	$ 62,371	$ 83,939
Other Comprehensive Income (Loss):
Foreign currency translation adjustments	(23,042)	(48,482)
Changes in derivative (losses) gains, net of tax	(412)	520
Defined benefit pension plan, net of tax
Actuarial (loss) gain, net of tax	(783)	319
Amortization of prior service cost included in net income, net of tax	28	33
Amortization of net loss included in net income, net of tax	1,580	2,354
Total defined benefit pension plan, net of tax	825	2,706
Total other comprehensive loss	(22,629)	(45,256)
Comprehensive Income	39,742	38,683
Comprehensive Loss Attributable to Noncontrolling Interests	14	13
Comprehensive Income Attributable to AptarGroup, Inc.	$ 39,756	$ 38,696

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Assets
Cash and equivalents	$ 355,629	$ 122,925
Short-term investments	717	740
Total Cash and equivalents and Short-term investments	356,346	123,665
Accounts and notes receivable, less current expected credit loss ("CECL") of $8,754 in 2022 and $7,374 in 2021	694,373	671,350
Inventories	459,613	441,464
Prepaid and other	131,754	121,729
Total Current Assets	1,642,086	1,358,208
Land	30,850	31,436
Buildings and improvements	638,988	631,897
Machinery and equipment	2,861,827	2,862,142
Property, Plant and Equipment, Gross	3,531,665	3,525,475
Less: Accumulated depreciation	(2,255,047)	(2,249,598)
​Property, Plant and Equipment, Net	1,276,618	1,275,877
Investments in equity securities	57,137	59,485
Goodwill	961,757	974,157
Intangible assets, net	348,165	362,343
Operating lease right-of-use assets	64,244	62,454
Miscellaneous	57,445	48,840
Total Other Assets	1,488,748	1,507,279
Total Assets	4,407,452	4,141,364
Current Liabilities:
Notes payable, revolving credit facility and overdrafts	841	147,276
Current maturities of long-term obligations, net of unamortized debt issuance costs	142,178	142,351
Accounts payable, accrued and other liabilities	718,474	692,865
Total Current Liabilities	861,493	982,492
Long-Term Obligations, net of unamortized debt issuance costs	1,294,850	907,024
Deferred income taxes	24,548	27,547
Retirement and deferred compensation plans	104,344	116,809
Operating lease liabilities	47,862	48,010
Deferred and other non-current liabilities	75,904	74,882
Commitments and contingencies	0	0
​Total Deferred Liabilities and Other	252,658	267,248
AptarGroup, Inc. stockholders’ equity
Common stock, $.01 par value, 199 million shares authorized, 70.5 and 70.4 million shares issued as of March 31, 2022 and December 31, 2021, respectively	705	704
Capital in excess of par value	929,218	916,534
Retained earnings	1,826,924	1,789,413
Accumulated other comprehensive loss	(338,708)	(316,041)
Less: Treasury stock at cost, 5.0 and 4.9 million shares as of March 31, 2022 and December 31, 2021, respectively	(434,867)	(421,203)
Total AptarGroup, Inc. Stockholders’ Equity	1,983,272	1,969,407
Noncontrolling interests in subsidiaries	15,179	15,193
Total Stockholders’ Equity	1,998,451	1,984,600
Total Liabilities and Stockholders’ Equity	$ 4,407,452	$ 4,141,364

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Accounts and notes receivable, allowance for credit loss (in dollars)	$ 8,754	$ 7,374
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	199,000,000	199,000,000
Common stock, shares issued (in shares)	70,500,000	70,400,000
Treasury stock (in shares)	5,000,000	4,900,000

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Thousands	Total	Retained Earnings	Accumulated Other Comprehensive (Loss) Income	Common Stock Par Value	Treasury Stock	Capital in Excess of Par Value	Non- Controlling Interest
Beginning balance at Dec. 31, 2020	$ 1,850,785	$ 1,643,825	$ (281,709)	$ 695	$ (361,583)	$ 849,161	$ 396
Increase (Decrease) in Stockholders' Equity
Net income (loss)	83,939	83,952					(13)
Foreign currency translation adjustments	(48,482)		(48,482)				0
Changes in unrecognized pension gains (losses) and related amortization, net of tax	2,706		2,706
Changes in derivative gains (losses), net of tax	520		520
Stock awards and option exercises	34,768			5	9,301	25,462
Cash dividends declared on common stock	(23,441)	(23,441)
Ending balance at Mar. 31, 2021	1,900,795	1,704,336	(326,965)	700	(352,282)	874,623	383
Beginning balance at Dec. 31, 2021	1,984,600	1,789,413	(316,041)	704	(421,203)	916,534	15,193
Increase (Decrease) in Stockholders' Equity
Net income (loss)	62,371	62,423					(52)
Foreign currency translation adjustments	(23,042)		(23,080)				38
Changes in unrecognized pension gains (losses) and related amortization, net of tax	825		825
Changes in derivative gains (losses), net of tax	(412)		(412)
Stock awards and option exercises	15,004			1	2,319	12,684
Cash dividends declared on common stock	(24,912)	(24,912)
Treasury stock purchased	(15,983)				(15,983)
Ending balance at Mar. 31, 2022	$ 1,998,451	$ 1,826,924	$ (338,708)	$ 705	$ (434,867)	$ 929,218	$ 15,179

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash Flows from Operating Activities:
Net Income	$ 62,371	$ 83,939
Adjustments to reconcile net income to net cash provided by operations:
Depreciation	47,638	47,627
Amortization	11,027	9,811
Stock-based compensation	13,362	11,489
Provision for CECL	1,393	342
(Gain) loss on disposition of fixed assets	(182)	91
Net loss (gain) on remeasurement of equity securities	1,250	(16,809)
Deferred income taxes	(2,859)	(3,580)
Defined benefit plan expense	6,225	7,475
Equity in results of affiliates	86	515
Change in fair value of contingent consideration	(1,050)	975
Changes in balance sheet items, excluding effects from foreign currency adjustments:
Accounts and other receivables	(28,977)	(70,194)
Inventories	(21,758)	(26,428)
Prepaid and other current assets	(10,629)	(16,995)
Accounts payable, accrued and other liabilities	32,012	49,764
Income taxes payable	1,697	(3,121)
Retirement and deferred compensation plan liabilities	(19,913)	(5,156)
Other changes, net	384	2,440
Net Cash Provided by Operations	92,077	72,185
Cash Flows from Investing Activities:
Capital expenditures	(73,058)	(63,884)
Proceeds from government grants	7,955	0
Proceeds from sale of property, plant and equipment	446	318
Maturity of short-term investment	24	243
Proceeds from sale of investment in equity securities	1,088	0
Notes receivable, net	(4,876)	(593)
Net Cash Used by Investing Activities	(68,421)	(63,916)
Cash Flows from Financing Activities:
Proceeds from notes payable and overdrafts	9,172	4,019
Repayments of notes payable and overdrafts	(11,293)	(3,180)
Repayments and proceeds of short term revolving credit facility, net	(144,345)	(52,000)
Proceeds from long-term obligations	402,153	2,053
Repayments of long-term obligations	(2,795)	(4,337)
Debt issuance costs	(3,766)	0
Dividends paid	(24,912)	(23,441)
Proceeds from stock option exercises	3,688	31,871
Purchase of treasury stock	(15,983)	0
Net Cash Provided (Used) by Financing Activities	211,919	(45,015)
Effect of Exchange Rate Changes on Cash	(2,871)	(8,539)
Net Increase (Decrease) in Cash and Equivalents and Restricted Cash	232,704	(45,285)
Cash and Equivalents and Restricted Cash at Beginning of Period	122,925	304,970
Cash and Equivalents and Restricted Cash at End of Period	$ 355,629	$ 259,685

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Restricted cash included in the line item prepaid and other on the Condensed Consolidated Balance Sheets as shown below represents amounts held in escrow.
Cash and equivalents	$ 355,629	$ 254,852
Restricted cash included in prepaid and other	0	4,833
Total Cash and Equivalents and Restricted Cash shown in the Statement of Cash Flows	$ 355,629	$ 259,685

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES BASIS OF PRESENTATION The accompanying unaudited Condensed Consolidated Financial Statements include the accounts of AptarGroup, Inc. and our subsidiaries. The terms “AptarGroup”, “Aptar”, “Company”, “we”, “us” or “our” as used herein refer to AptarGroup, Inc. and our subsidiaries. All significant intercompany accounts and transactions have been eliminated. In the opinion of management, the unaudited Condensed Consolidated Financial Statements (the “Condensed Consolidated Financial Statements”) include all normal recurring adjustments necessary for a fair statement of consolidated financial position, results of operations, comprehensive income, changes in equity and cash flows for the interim periods presented. The accompanying Condensed Consolidated Financial Statements have been prepared by the Company, pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) have been condensed or omitted pursuant to such rules and regulations, although we believe that the disclosures made are adequate to make the information presented not misleading. Also, certain financial position data included herein was derived from the audited Consolidated Financial Statements included in our Annual Report on Form 10-K for the year ended December 31, 2021 but does not include all disclosures required by U.S. GAAP. Accordingly, these Condensed Consolidated Financial Statements and related notes should be read in conjunction with the audited Consolidated Financial Statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2021. The results of operations of any interim period are not necessarily indicative of the results that may be expected for the year. The extent to which the COVID-19 pandemic impacts our financial results and operations for all three of our business segments will depend on future developments which are highly uncertain and cannot be predicted, including the emergence of new variants, the availability, adoption and efficacy of vaccines and boosters, the length of time it takes for normal economic and operating conditions to resume, additional governmental actions that may be taken and/or extended in response to any further resurgence of the virus and numerous other uncertainties. No impairments were recorded as of March 31, 2022 related to the COVID-19 pandemic. However, due to the general uncertainty surrounding the situation, including areas such as cost inflation, supply chain disruptions and labor shortages, future results could be materially impacted. The war in Ukraine and the recent COVID-19 outbreak in China have not as of March 31, 2022 had a significant direct impact on our business in these regions, though the near-term visibility for both of these situations is expected to remain fluid and uncertain for the next several quarters. However, we have started to experience some indirect impacts on our business, including higher energy costs and certain supply chain interruptions. ADOPTION OF RECENT ACCOUNTING STANDARDS Changes to U.S. GAAP are established by the Financial Accounting Standards Board (“FASB”) in the form of Accounting Standards Updates (“ASUs”) to the FASB’s Accounting Standards Codification. In November 2021, the FASB issued ASU 2021-10, Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance. This update requires annual disclosures about transactions with a government that are accounted for by applying a grant or contribution accounting model by analogy including the nature of the transaction, the financial statement line items affected by the transaction and any significant terms and conditions associated with the transactions. We adopted this guidance in the fourth quarter of 2021 using the prospective approach. In March 2020, the FASB issued ASU 2020-04, which provides optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships and other transactions affected by reference rate reform if certain criteria are met. The amendments to this update apply only to contracts, hedging relationships and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. ASU 2020-04 was further amended in January 2021 by ASU 2021-01 which clarified the applicability of certain provisions. Both standards are effective upon issuance and can be adopted any time prior to December 31, 2022. The guidance in ASU 2020-04 and ASU 2021-01 is optional and may be elected over time as reference rate reform activities occur. During 2021, we amended the revolving credit facility to provide mechanics relating to a transition away from LIBOR (in the case of USD) and the designated benchmark rates for other available currencies and the replacement of any such applicable benchmark by a replacement alternative benchmark rate or mechanism for loans made in the applicable currency. We are evaluating any further impact this standard may have on our Condensed Consolidated Financial Statements and anticipate no further significant impacts. Other accounting standards that have been issued by the FASB or other standards-setting bodies did not have a material impact on our Condensed Consolidated Financial Statements. INCOME TAXES We compute taxes on income in accordance with the tax rules and regulations of the many taxing authorities where income is earned. The income tax rates imposed by these taxing authorities may vary substantially. Taxable income may differ from pre-tax income for financial accounting purposes. To the extent that these differences create timing differences between the tax basis of an asset or liability and our reported amount in the financial statements, an appropriate provision for deferred income taxes is made. We maintain our assertion that the cash and distributable reserves at our non-U.S. affiliates are indefinitely reinvested. As of March 31, 2022, under currently enacted laws, we do not have a balance of foreign earnings that will be subject to U.S. taxation upon repatriation. We will provide for the necessary withholding and local income taxes when management decides that an affiliate should make a distribution. These decisions are made taking into consideration the financial requirements of the non-U.S. affiliates and our global cash management goals. We provide a liability for the amount of unrecognized tax benefits from uncertain tax positions. This liability is provided whenever we determine that a tax benefit will not meet a more-likely-than-not threshold for recognition. We are subject to the examination of our returns and other tax matters by the U.S. Internal Revenue Service and other tax authorities and governmental bodies. We believe that we have adequately provided a tax reserve for any adjustments that may result from tax examinations or uncertain tax positions. However, the outcome of tax audits cannot be predicted with certainty. If any issues addressed in our tax audits are resolved in a manner inconsistent with our expectations, we could be required to adjust our provision for income taxes in the period such resolution occurs. The resolution of each of these audits is not expected to be material to our Condensed Consolidated Financial Statements.

REVENUE

REVENUE	3 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
REVENUE	REVENUE Revenue by segment and geography for the three months ended March 31, 2022 and 2021 is as follows: For the Three Months Ended March 31, 2022 Segment Europe Domestic Latin Asia Total Pharma $ 211,007 $ 106,341 $ 7,855 $ 17,259 $ 342,462 Beauty + Home 209,083 95,816 37,198 26,102 368,199 Food + Beverage 35,041 77,848 12,691 8,691 134,271 Total $ 455,131 $ 280,005 $ 57,744 $ 52,052 $ 844,932 For the Three Months Ended March 31, 2021 Segment Europe Domestic Latin Asia Total Pharma $ 207,947 $ 89,295 $ 5,370 $ 11,220 $ 313,832 Beauty + Home 189,240 98,807 34,342 24,557 346,946 Food + Beverage 28,502 67,063 9,253 11,158 115,976 Total $ 425,689 $ 255,165 $ 48,965 $ 46,935 $ 776,754 We perform our obligations under a contract with a customer by transferring goods and/or services in exchange for consideration from the customer. The timing of performance will sometimes differ from the timing of the receipt of the associated consideration from the customer, thus resulting in the recognition of a contract asset or a contract liability. We recognize a contract asset when we transfer control of goods or services to a customer prior to invoicing for the related performance obligation. The contract asset is transferred to accounts receivable when the product is shipped and invoiced to the customer. We recognize a contract liability if the customer's payment of consideration precedes the entity's performance. The opening and closing balances of our contract asset and contract liabilities are as follows: Balance as of December 31, 2021 Balance as of March 31, 2022 Increase/ Contract asset (current) $ 16,878 $ 15,236 $ (1,642) Contract liability (current) 86,340 91,711 5,371 Contract liability (long-term) 21,905 21,133 (772) The differences in the opening and closing balances of our contract asset and contract liabilities are primarily the result of timing differences between our performance and the customer’s payment. The total amount of revenue recognized during the current year against contract liabilities is $25.4 million, including $21.4 million relating to contract liabilities at the beginning of the year. Current contract assets and long-term contract assets are included within the Prepaid and Other and Miscellaneous assets, respectively, while current contract liabilities and long-term contract liabilities are included within Accounts Payable, Accrued and Other Liabilities and Deferred and Other Non-current Liabilities, respectively, within our Condensed Consolidated Balance Sheets. Determining the Transaction Price In most cases, the transaction price for each performance obligation is stated in the contract. In determining the variable amounts of consideration within the transaction price (such as volume-based customer rebates), we include an estimate of the expected amount of consideration as revenue. We apply the expected value method based on all of the information (historical, current, and forecast) that is reasonably available and identify reasonable estimates based on this information. We apply the method consistently throughout the contract when estimating the effect of an uncertainty on the amount of variable consideration to which we will be entitled. Product Sales We primarily manufacture and sell drug delivery, consumer product dispensing and active material science solutions. The amount of consideration is typically fixed for customers. At the time of delivery, the customer is invoiced at the agreed-upon price. Revenue from product sales is typically recognized upon manufacture or shipment, when control of the goods transfers to the customer. To determine when the control transfers, we typically assess, among other things, the shipping terms of the contract, shipping being one of the indicators of transfer of control. For a majority of product sales, control of the goods transfers to the customer at the time of shipment of the goods. Once the goods are shipped, we are precluded from redirecting the shipment to another customer. Therefore, our performance obligation is satisfied at the time of shipment. For sales in which control transfers upon delivery, shipping and/or handling costs that occur before the customer obtains control of the goods are deemed to be fulfillment activities and are accounted for as fulfillment costs and revenue is recorded upon final delivery to the customer location. We have elected to account for shipping and handling costs that occur after the customer has obtained control of a good as fulfillment costs rather than as a promised service. We do not have any material significant payment terms as payment is typically received shortly after the point of sale. There also exist instances where we manufacture highly customized products that have no alternative use to us and for which we have an enforceable right to payment for performance completed to date. For these products, we transfer control and recognize revenue over time by measuring progress towards completion using the Output Method based on the number of products produced. As we normally make our products to a customer’s order, the time between production and shipment of our products is typically within a few weeks. We believe this measurement provides a faithful depiction of the transfer of goods as the costs incurred reflect the value of the products produced. As a part of our customary business practice, we offer a standard warranty that the products will materially comply with the technical specifications and will be free from material defects. Because such warranties are not sold separately, do not provide for any service beyond a guarantee of a product’s initial specifications, and are not required by law, there is no revenue deferral for these types of warranties. Tooling Sales We also build or contract for molds and other tools (collectively defined as “tooling”) necessary to produce our products. As with product sales, we recognize revenue when control of the tool transfers to the customer. If the tooling is highly customized with no alternative use to us and we have an enforceable right to payment for performance completed to date, we transfer control and recognize revenue over time by measuring progress towards completion using the Input Method based on costs incurred relative to total estimated costs to completion. Otherwise, revenue for the tooling is recognized at the point in time when the customer approves the tool. We do not have any material significant payment terms as payment is typically either received during the mold-build process or shortly after completion. In certain instances, we offer extended warranties on our tools above and beyond the normal standard warranties. We normally receive payment at the inception of the contract and recognize revenue over the term of the contract. We do not have any material extended warranties as of March 31, 2022 or December 31, 2021. Service Sales We also provide services to our pharmaceutical customers. As with product sales, we recognize revenue based on completion of each performance obligation of the service contract. Contract Costs We do not incur significant costs to obtain or fulfill revenue contracts. Credit Risk We are exposed to credit losses primarily through our product sales, tooling sales and services to our customers. We assess each customer’s ability to pay for the products we sell by conducting a credit review. The credit review considers our expected billing exposure and timing for payment and the customer’s established credit rating or our assessment of the customer’s creditworthiness based on our analysis of their financial statements when a credit rating is not available. We also consider contract terms and conditions, country and political risks, and business strategy in our evaluation. A credit limit is established for each customer based on the outcome of this review. We monitor our ongoing credit exposure through active review of customer balances against contract terms and due dates. Our activities include timely account reconciliation, dispute resolution and payment confirmation. We may employ collection agencies and legal counsel to pursue recovery of defaulted receivables.

INVENTORIES

INVENTORIES	3 Months Ended
	Mar. 31, 2022
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES Inventories, by component net of reserves, consisted of: March 31, December 31, Raw materials $ 145,249 $ 140,818 Work in process 143,591 137,654 Finished goods 170,773 162,992 Total $ 459,613 $ 441,464

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS	3 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER INTANGIBLE ASSETS	GOODWILL AND OTHER INTANGIBLE ASSETS The changes in the carrying amount of goodwill by reporting segment since December 31, 2021 are as follows: Pharma Beauty + Food + Total Balance as of December 31, 2021 $ 520,197 $ 325,719 $ 128,241 $ 974,157 Foreign currency exchange effects (9,386) (2,845) (169) (12,400) Balance as of March 31, 2022 $ 510,811 $ 322,874 $ 128,072 $ 961,757 The table below shows a summary of intangible assets as of March 31, 2022 and December 31, 2021. March 31, 2022 December 31, 2021 Weighted Average Amortization Period (Years) Gross Accumulated Net Gross Accumulated Net Amortized intangible assets: Patents 13.9 $ 2,870 $ (1,664) $ 1,206 $ 2,767 $ (1,528) $ 1,239 Acquired technology 11.5 138,488 (47,989) 90,499 140,936 (45,613) 95,323 Customer relationships 13.3 309,610 (82,634) 226,976 311,964 (77,512) 234,452 Trademarks and trade names 7.0 44,364 (24,084) 20,280 44,893 (22,886) 22,007 License agreements and other 39.2 16,045 (6,841) 9,204 16,179 (6,857) 9,322 Total intangible assets 13.2 $ 511,377 $ (163,212) $ 348,165 $ 516,739 $ (154,396) $ 362,343 Aggregate amortization expense for the intangible assets above for the three months ended March 31, 2022 and 2021 was $11,027 and $9,811, respectively. Future estimated amortization expense for the years ending December 31 is as follows: 2022 $ 33,180 (remaining estimated amortization for 2022) 2023 43,721 2024 40,541 2025 39,088 2026 36,874 Thereafter 154,761 Future amortization expense may fluctuate depending on changes in foreign currency rates. The estimates for amortization expense noted above are based upon foreign exchange rates as of March 31, 2022.

INCOME TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The tax provision for interim periods is determined using the estimated annual effective consolidated tax rate, based on the current estimate of full-year earnings and related estimated full year-taxes, adjusted for the impact of discrete quarterly items. The effective tax rate for the three months ended March 31, 2022 and 2021, respectively, was 28.0% and 16.8%. The lower effective tax rate for the three months ended March 31, 2021 reflects incremental tax benefits from employee stock-based compensation of $8.0 million and a $2.9 million benefit from changes in U.S. state tax laws for the three months ended March 31, 2021.

DEBT

DEBT	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
DEBT	DEBT Notes Payable, Revolving Credit Facility and Overdrafts At March 31, 2022 and December 31, 2021, our notes payable, revolving credit facility and overdrafts consisted of the following: March 31, December 31, Revolving credit facility $ — $ 144,383 Overdrafts 6.25% to 13.40% 841 2,893 $ 841 $ 147,276 On June 30, 2021, we entered into an amended and restated multi-currency revolving credit facility (the "revolving credit facility") with a syndicate of banks to replace the existing facility (the "prior credit facility") maturing July 2022 and to amend and restate the unsecured term loan facility extended to our wholly-owned UK subsidiary under the prior credit facility (as amended, the "amended term facility"). The revolving credit facility matures in June 2026, subject to a maximum of two one-year extensions in certain circumstances, and provides for unsecured financing of up to $600 million available in the U.S. and to our wholly-owned UK subsidiary. The amended term facility matures in July 2022. The revolving credit facility can be drawn in various currencies including USD, EUR, GBP, and CHF to the equivalent of $600 million, which may be increased by up to $300 million subject to the satisfaction of certain conditions. As of March 31, 2022, no balance was utilized under the revolving credit facility in the U.S. or by our wholly-owned UK subsidiary and $56 million remained outstanding under the amended term facility. As of December 31, 2021, $133 million was utilized under the revolving credit facility in the U.S., €10 million (approximately $11.4 million) was utilized by our wholly-owned UK subsidiary and $56 million remained outstanding under the amended term facility. There are no compensating balance requirements associated with our revolving credit facility. Each borrowing under the revolving credit facility will bear interest at rates based on LIBOR (in the case of USD), EURIBOR (in the case of EUR), SONIA (in the case of GBP), SARON (in the case of CHF), prime rates or other similar rates, in each case plus an applicable margin. The revolving credit facility provides mechanics relating to a transition away from LIBOR (in the case of USD) and the designated benchmark rates for other available currencies and the replacement of any such applicable benchmark by a replacement alternative benchmark rate or mechanism for loans made in the applicable currency. A facility fee on the total amount of the revolving credit facility is also payable quarterly, regardless of usage. The applicable margins for borrowings under the revolving credit facility and the facility fee percentage may change from time to time depending on changes in our consolidated leverage ratio. In October 2020, we entered into an unsecured money market borrowing arrangement to provide short term financing of up to $30 million that is available in the U.S. No borrowing on this facility is permitted over a quarter end date. As such, no balance was utilized under this arrangement as of March 31, 2022 or December 31, 2021. Long-Term Obligations On March 7, 2022, we issued $400 million aggregate principal amount of 3.600% Senior Notes due March 2032 in an underwritten public offering. The form and terms of the notes were established pursuant to an Indenture, dated as of March 7, 2022, as amended and supplemented by a First Supplemental Indenture, dated as of March 7, 2022, each between the Company and U.S. Bank Trust Company, National Association, as trustee. Interest is payable semi-annually in arrears. The notes are unsecured obligations and rank equally in right of payment with all of our other existing and future senior, unsecured indebtedness. At March 31, 2022 and December 31, 2021, our long-term obligations consisted of the following: March 31, 2022 December 31, 2021 Notes payable 0.00% – 14.42%, due in monthly and annual installments through 2028 $ 26,087 $ 22,785 Senior unsecured notes 3.2%, due in 2022 75,000 75,000 Senior unsecured debts 1.38% USD floating swapped to 1.36% EUR fixed, due in 2022 56,000 56,000 Senior unsecured notes 3.5%, due in 2023 125,000 125,000 Senior unsecured notes 1.0%, due in 2023 110,640 113,830 Senior unsecured notes 3.4%, due in 2024 50,000 50,000 Senior unsecured notes 3.5%, due in 2024 100,000 100,000 Senior unsecured notes 1.2%, due in 2024 221,280 227,660 Senior unsecured notes 3.6%, due in 2025 125,000 125,000 Senior unsecured notes 3.6%, due in 2026 125,000 125,000 Senior unsecured notes 3.6%, due in 2032, net of discount of $1,027 398,973 — Finance Lease Liabilities 29,284 30,185 Unamortized debt issuance costs (5,236) (1,085) $ 1,437,028 $ 1,049,375 Current maturities of long-term obligations (142,178) (142,351) Total long-term obligations $ 1,294,850 $ 907,024 The aggregate long-term maturities, excluding finance lease liabilities, which are disclosed in Note 7, due annually from the current balance sheet date for the next five years are: Year One $ 138,729 Year Two 343,403 Year Three 276,394 Year Four 254,268 Year Five 1,103 Thereafter 399,083 Covenants Our revolving credit facility and corporate long-term obligations require us to satisfy certain financial and other covenants including: Requirement Level at March 31, 2022 Consolidated Leverage Ratio (1) Maximum of 3.50 to 1.00 1.83 to 1.00 Consolidated Interest Coverage Ratio (1) Minimum of 3.00 to 1.00 18.90 to 1.00 ________________________________________

LEASES

LEASES	3 Months Ended
	Mar. 31, 2022
Leases [Abstract]
LEASES	LEASES We lease certain warehouse, plant and office facilities as well as certain equipment under non-cancelable operating and finance leases expiring at various dates through the year 2034. 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”). The components of lease expense for the three months ended March 31, 2022 and 2021 were as follows: Three Months Ended March 31, 2022 2021 Operating lease cost $ 5,281 $ 5,789 Finance lease cost: Amortization of right-of-use assets $ 1,129 $ 976 Interest on lease liabilities 325 312 Total finance lease cost $ 1,454 $ 1,288 Short-term lease and variable lease costs $ 3,982 $ 3,128 Supplemental cash flow information related to leases was as follows: Three Months Ended March 31, 2022 2021 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 5,500 $ 5,755 Operating cash flows from finance leases 335 349 Financing cash flows from finance leases 1,179 1,198 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 6,406 $ 1,496 Finance leases 599 47
LEASES	LEASES We lease certain warehouse, plant and office facilities as well as certain equipment under non-cancelable operating and finance leases expiring at various dates through the year 2034. 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”). The components of lease expense for the three months ended March 31, 2022 and 2021 were as follows: Three Months Ended March 31, 2022 2021 Operating lease cost $ 5,281 $ 5,789 Finance lease cost: Amortization of right-of-use assets $ 1,129 $ 976 Interest on lease liabilities 325 312 Total finance lease cost $ 1,454 $ 1,288 Short-term lease and variable lease costs $ 3,982 $ 3,128 Supplemental cash flow information related to leases was as follows: Three Months Ended March 31, 2022 2021 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 5,500 $ 5,755 Operating cash flows from finance leases 335 349 Financing cash flows from finance leases 1,179 1,198 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 6,406 $ 1,496 Finance leases 599 47

RETIREMENT AND DEFERRED COMPENS

RETIREMENT AND DEFERRED COMPENSATION PLANS	3 Months Ended
	Mar. 31, 2022
Retirement Benefits [Abstract]
RETIREMENT AND DEFERRED COMPENSATION PLANS	RETIREMENT AND DEFERRED COMPENSATION PLANS Effective January 1, 2021, our domestic noncontributory retirement plans were closed to new employees and employees who were rehired after December 31, 2020. These employees are instead eligible for additional contribution to their defined contribution 401(k) employee savings plan. All domestic employees with hire/rehire dates prior to January 1, 2021 are still eligible for the domestic pension plans and continue to accrue plan benefits after this date. Components of Net Periodic Benefit Cost: Domestic Plans Foreign Plans Three Months Ended March 31, 2022 2021 2022 2021 Service cost $ 3,945 $ 4,227 $ 1,970 $ 2,078 Interest cost 1,742 1,611 373 218 Expected return on plan assets (3,227) (3,073) (727) (723) Amortization of net loss 1,667 2,503 444 589 Amortization of prior service cost — — 38 45 Net periodic benefit cost $ 4,127 $ 5,268 $ 2,098 $ 2,207 The components of net periodic benefit cost, other than the service cost component, are included in the line Miscellaneous, net in the Condensed Consolidated Statements of Income. Employer Contributions We currently have no minimum funding requirements for our domestic and foreign plans. We contributed $15.2 million to our domestic defined benefit plans during the three months ended March 31, 2022 and we do not expect additional significant payments during 2022. We have contributed approximately $0.5 million to our foreign defined benefit plans during the three months ended March 31, 2022 and do not expect additional significant contributions during 2022.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME	3 Months Ended
	Mar. 31, 2022
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
ACCUMULATED OTHER COMPREHENSIVE INCOME	ACCUMULATED OTHER COMPREHENSIVE INCOME Changes in Accumulated Other Comprehensive (Loss) Income by Component: Foreign Currency Defined Benefit Pension Plans Derivatives Total Balance - December 31, 2020 $ (178,025) $ (102,322) $ (1,362) $ (281,709) Other comprehensive (loss) income before reclassifications (48,482) 319 5,061 (43,102) Amounts reclassified from accumulated other comprehensive income (loss) — 2,387 (4,541) (2,154) Net current-period other comprehensive (loss) income (48,482) 2,706 520 (45,256) Balance - March 31, 2021 $ (226,507) $ (99,616) $ (842) $ (326,965) Balance - December 31, 2021 $ (249,500) $ (66,486) $ (55) $ (316,041) Other comprehensive (loss) income before reclassifications (23,080) (783) 1,192 (22,671) Amounts reclassified from accumulated other comprehensive income (loss) — 1,608 (1,604) 4 Net current-period other comprehensive (loss) income (23,080) 825 (412) (22,667) Balance - March 31, 2022 $ (272,580) $ (65,661) $ (467) $ (338,708) Reclassifications Out of Accumulated Other Comprehensive (Loss) Income: Details about Accumulated Other Amount Reclassified from Accumulated Other Comprehensive Income Affected Line in the Statement Three Months Ended March 31, 2022 2021 Defined Benefit Pension Plans Amortization of net loss $ 2,111 $ 3,092 (1) Amortization of prior service cost 38 45 (1) 2,149 3,137 Total before tax (541) (750) Tax impact $ 1,608 $ 2,387 Net of tax Derivatives Changes in cross currency swap: interest component $ (20) $ (12) Interest Expense Changes in cross currency swap: foreign exchange component (1,584) (4,529) Miscellaneous, net $ (1,604) $ (4,541) Net of tax Total reclassifications for the period $ 4 $ (2,154) ______________________________________________ (1) These accumulated other comprehensive income components are included in the computation of net periodic benefit costs, net of tax. See Note 8 – Retirement and Deferred Compensation Plans for additional details.

DERIVATIVE INSTRUMENTS AND HEDG

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	3 Months Ended
	Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES We maintain a foreign exchange risk management policy designed to establish a framework to protect the value of our non-functional currency denominated transactions from adverse changes in exchange rates. Sales of our products can be denominated in a currency different from the currency in which the related costs to produce the product are denominated. Changes in exchange rates on such inter-country sales or intercompany loans can impact our results of operations. Our policy is not to engage in speculative foreign currency hedging activities, but to minimize our net foreign currency transaction exposure, defined as firm commitments and transactions recorded and denominated in currencies other than the functional currency. We may use foreign currency forward exchange contracts, options and cross currency swaps to economically hedge these risks. For derivative instruments designated as hedges, we formally document the nature and relationships between the hedging instruments and the hedged items, as well as the risk management objectives, strategies for undertaking the various hedge transactions, and the method of assessing hedge effectiveness at inception. Quarterly thereafter, we formally assess whether the derivatives that are used in hedging transactions are highly effective in offsetting changes in the fair value or cash flows of the hedged item. Additionally, in order to designate any derivative instrument as a hedge of an anticipated transaction, the significant characteristics and expected terms of any anticipated transaction must be specifically identified, and it must be probable that the anticipated transaction will occur. All derivative financial instruments used as hedges are recorded at fair value in the Condensed Consolidated Balance Sheets (See Note 11 - Fair Value). Cash Flow Hedge For derivative instruments that are designated and qualify as cash flow hedges, the changes in fair values are recorded in accumulated other comprehensive loss and included in changes in derivative gain/loss. The changes in the fair values of derivatives designated as cash flow hedges are reclassified from accumulated other comprehensive loss to net income when the underlying hedged item is recognized in earnings. Cash flows from the settlement of derivative contracts designated as cash flow hedges offset cash flows from the underlying hedged items and are included in operating activities in the Condensed Consolidated Statements of Cash Flows. In 2017 our wholly-owned UK subsidiary borrowed $280 million in term loan borrowings under our prior credit facility. In order to mitigate the currency risk of U.S. dollar debt on a euro functional currency entity and to mitigate the risk of variability in interest rates, we entered into a EUR/USD floating-to-fixed cross currency swap on July 20, 2017 in the notional amount of $280 million to effectively hedge the foreign exchange and interest rate exposure on the $280 million term loan. This EUR/USD swap agreement fixed our U.S. dollar floating-rate debt to 1.36% euro fixed-rate debt. Related to this hedge, approximately $0.5 million of loss is included in accumulated other comprehensive loss at March 31, 2022. The amount expected to be recognized into earnings during the next 4 months related to the interest component of our cross currency swap based on prevailing foreign exchange and interest rates at March 31, 2022 is a gain of $131 thousand. The amount expected to be recognized into earnings during the next 4 months related to the foreign exchange component of our cross currency swap is dependent on fluctuations in currency exchange rates. As of March 31, 2022, the fair value of the cross currency swap was a $1.7 million asset. The swap contract expires on July 20, 2022. Hedge of Net Investments in Foreign Operations A significant number of our operations are located outside of the United States. Because of this, movements in exchange rates may have a significant impact on the translation of the financial condition and results of operations of our foreign subsidiaries. A strengthening U.S. dollar relative to foreign currencies has a dilutive translation effect on our financial condition and results of operations. Conversely, a weakening U.S. dollar has an additive effect. In some cases, we maintain debt in these subsidiaries to offset the net asset exposure. We do not otherwise actively manage this risk using derivative financial instruments. In the event we plan on a full or partial liquidation of any of our foreign subsidiaries where our net investment is likely to be monetized, we will consider hedging the currency exposure associated with such a transaction. Other As of March 31, 2022, we have recorded the fair value of foreign currency forward exchange contracts of $0.4 million in prepaid and other and $2.3 million in accounts payable, accrued and other liabilities on the balance sheet. All forward exchange contracts outstanding as of March 31, 2022 had an aggregate notional contract amount of $58.9 million. Fair Value of Derivative Instruments in the Condensed Consolidated Balance Sheets as of March 31, 2022 and December 31, 2021 March 31, 2022 December 31, 2021 Balance Sheet Location Derivatives Designated as Hedging Instruments Derivatives not Designated as Hedging Instruments Derivatives Designated as Hedging Instruments Derivatives not Designated as Hedging Instruments Derivative Assets Foreign Exchange Contracts Prepaid and other $ — $ 358 $ — $ 331 Cross Currency Swap Contract (1) Prepaid and other 1,657 — 511 — $ 1,657 $ 358 $ 511 $ 331 Derivative Liabilities Foreign Exchange Contracts Accounts payable, accrued and other liabilities $ — $ 2,329 $ — $ 221 $ — $ 2,329 $ — $ 221 __________________________ (1) This cross currency swap contract is composed of both an interest component and a foreign exchange component. The Effect of Cash Flow Hedge Accounting on Accumulated Other Comprehensive Income (Loss) for the Three Months Ended March 31, 2022 and 2021 Derivatives in Cash Flow Hedging Amount of Gain (Loss) Location of (Loss) Amount of Gain (Loss) Total Amount of Affected Income Statement Line Item 2022 2021 2022 2021 Cross currency swap contract: Interest component $ (392) $ 532 Interest expense $ 20 $ 12 $ (8,930) Foreign exchange component 1,584 4,529 Miscellaneous, net 1,584 4,529 (1,103) $ 1,192 $ 5,061 $ 1,604 $ 4,541 The Effect of Derivatives Not Designated as Hedging Instruments on the Condensed Consolidated Statements of Income for the Three Months Ended March 31, 2022 and 2021 Derivatives Not Designated Location of (Loss) Gain Recognized Amount of (Loss) Gain 2022 2021 Foreign Exchange Contracts Other (Expense) Income: $ (2,100) $ (513) $ (2,100) $ (513) Gross Amounts Offset in the Statement of Financial Position Net Amounts Presented in the Statement of Financial Position Gross Amounts not Offset in the Statement of Financial Position Gross Amount Financial Instruments Cash Collateral Received Net Amount March 31, 2022 Derivative Assets $ 2,015 — $ 2,015 — — $ 2,015 Total Assets $ 2,015 — $ 2,015 — — $ 2,015 Derivative Liabilities $ 2,329 — $ 2,329 — — $ 2,329 Total Liabilities $ 2,329 — $ 2,329 — — $ 2,329 December 31, 2021 Derivative Assets $ 842 — $ 842 — — $ 842 Total Assets $ 842 — $ 842 — — $ 842 Derivative Liabilities $ 221 — $ 221 — — $ 221 Total Liabilities $ 221 — $ 221 — — $ 221

FAIR VALUE

FAIR VALUE	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
FAIR VALUE	FAIR VALUE Authoritative guidelines require the categorization of assets and liabilities into three levels based upon the assumptions (inputs) used to price the assets or liabilities. Level 1 provides the most reliable measure of fair value, whereas Level 3 generally requires significant management judgment. The three levels are defined as follows: • Level 1: Unadjusted quoted prices in active markets for identical assets and liabilities. • Level 2: Observable inputs other than those included in Level 1. For example, quoted prices for similar assets or liabilities in active markets or quoted prices for identical assets or liabilities in inactive markets. • Level 3: Unobservable inputs reflecting management’s own assumptions about the inputs used in pricing the asset or liability. As of March 31, 2022, the fair values of our financial assets and liabilities were categorized as follows: Total Level 1 Level 2 Level 3 Assets Investment in equity securities (1) $ 6,668 $ 6,668 $ — $ — Foreign exchange contracts (2) 358 — 358 — Cross currency swap contract (2) 1,657 — 1,657 — Convertible note 5,000 — — 5,000 Total assets at fair value $ 13,683 $ 6,668 $ 2,015 $ 5,000 Liabilities Foreign exchange contracts (2) $ 2,329 $ — $ 2,329 $ — Contingent consideration obligation 32,858 — — 32,858 Total liabilities at fair value $ 35,187 $ — $ 2,329 $ 32,858 As of December 31, 2021, the fair values of our financial assets and liabilities were categorized as follows: Total Level 1 Level 2 Level 3 Assets Investment in equity securities (1) $ 9,006 $ 9,006 $ — $ — Foreign exchange contracts (2) 331 — 331 — Cross currency swap contract (2) 511 — 511 — Total assets at fair value $ 9,848 $ 9,006 $ 842 $ — Liabilities Foreign exchange contracts (2) $ 221 $ — $ 221 $ — Contingent consideration obligation 33,908 — — 33,908 Total liabilities at fair value $ 34,129 $ — $ 221 $ 33,908 ________________________________________________ (1) Investment in PureCycle Technologies ("PCT" or "PureCycle" ). See Note 17 - Investment in Equity Securities for discussion of this investment. (2) Market approach valuation technique based on observable market transactions of spot and forward rates. The carrying amounts of our other current financial instruments such as cash and equivalents, accounts and notes receivable, notes payable and current maturities of long-term obligations approximate fair value due to the short-term maturity of the instruments. We consider our long-term obligations a Level 2 liability and utilize the market approach valuation technique based on interest rates that are currently available to us for issuance of debt with similar terms and maturities. The estimated fair value of our long-term obligations was $1.2 billion as of March 31, 2022 and $0.9 billion as of December 31, 2021. During the first quarter of 2022, we invested $5.0 million in a convertible note in Enable Injections, Inc. This investment is recorded at fair value and is a Level 3 fair value measurement. As discussed in Note 12- Fair Value of our Annual Report on Form 10-K for the year ended December 31, 2021, we have a contingent consideration obligation to the selling equity holders of: – Fusion Packaging, Inc. ("Fusion") in connection with the acquisition of 100% of the equity interests of Fusion (the "Fusion Acquisition") based on 2022 cumulative performance targets, and – Noble International Holdings, Inc., Genia Medical, Inc. and JBCB Holdings, LLC (collectively referred to as "Noble") in connection with the acquisition of 100% of the equity interests of Noble (the "Noble Acquisition") based on 2024 cumulative performance targets. We consider these obligations Level 3 liabilities and have estimated the aggregate fair value for these contingent consideration arrangements as follows: March 31, 2022 December 31, 2021 Fusion Acquisition $ 26,116 $ 27,166 Noble Acquisition 6,742 6,742 $ 32,858 $ 33,908 Changes in the fair value of these obligations are recorded within selling, research & development and administrative expenses in our Condensed Consolidated Statements of Income. Significant changes to the inputs, as noted above, can result in a significantly higher or lower fair value measurement. The following table provides a summary of changes in our Level 3 fair value measurements: Balance, December 31, 2021 $ 33,908 Decrease in fair value recorded in earnings (1,050) Balance, March 31, 2022 $ 32,858

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES In the normal course of business, we are subject to a number of lawsuits and claims both actual and potential in nature. While management believes the resolution of these claims and lawsuits will not have a material adverse effect on our financial position, our results of operations or cash flows, claims and legal proceedings are subject to inherent uncertainties, and unfavorable outcomes could occur and could include amounts in excess of any accruals which management has established. Were such unfavorable final outcomes to occur, it is possible that they could have a material adverse effect on our financial position, results of operations and cash flows. Under our Certificate of Incorporation, we have agreed to indemnify our officers and directors for certain events or occurrences while the officer or director is, or was, serving at our request in such capacity. The maximum potential amount of future payments we could be required to make under these indemnification agreements is unlimited; however, we have a directors and officers liability insurance policy that covers a portion of our exposure. As a result of our insurance policy coverage, we believe the estimated fair value of these indemnification agreements is minimal. We have no liabilities recorded for these agreements as of March 31, 2022 and December 31, 2021. In December 2019, tax authorities in Brazil notified us of a tax assessment of approximately $6.1 million, including interest and penalties of $2.3 million and $0.8 million, respectively, relating to differences in tax classification codes used for import duties for the period from January 2015 to August 2018. We are vigorously contesting the assessment, including interest and penalties, and have filed an administrative defense appeal in December 2019. In June 2020, an unfavorable decision was issued on the first administrative defense appeal. We filed a second administrative defense appeal in August 2020. We still believe we have a strong defense. Due to uncertainty in the amount of assessment and the timing of our appeal, no liability is recorded as of March 31, 2022.

STOCK REPURCHASE PROGRAM

STOCK REPURCHASE PROGRAM	3 Months Ended
	Mar. 31, 2022
Equity [Abstract]
STOCK REPURCHASE PROGRAM	STOCK REPURCHASE PROGRAM On April 18, 2019, we announced a share repurchase authorization of up to $350 million of common stock. This authorization replaces previous authorizations and has no expiration date. We may repurchase shares through the open market, privately negotiated transactions or other programs, subject to market conditions. During the three months ended March 31, 2022, we repurchased approximately 140 thousand shares for approximately $16.0 million. During the three months ended March 31, 2021, we did not repurchase any shares. As of March 31, 2022, there was $184.4 million of authorized share repurchases remaining under the existing authorization.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	3 Months Ended
	Mar. 31, 2022
Share-based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATION We issue restricted stock units (“RSUs”), which consist of time-based and performance-based awards, to employees under stock awards plans approved by stockholders. In addition, RSUs are issued to non-employee directors under a Restricted Stock Unit Award Agreement for Directors pursuant to the Company’s 2018 Equity Incentive Plan. RSUs granted to employees vest according to a specified performance period and/or vesting period. Time-based RSUs generally vest over three years. Performance-based RSUs vest at the end of the specified performance period, generally three years, assuming required performance or market vesting conditions are met. Performance-based RSUs have one of two vesting conditions: (1) based on our internal financial performance metrics and (2) based on our total shareholder return (“TSR”) relative to total shareholder returns of an industrial peer group. At the time of vesting, the vested shares of common stock are issued in the employee’s name. In addition, RSU awards are generally net settled (shares are withheld to cover the employee tax obligation). RSUs granted to directors are only time-based and generally vest over one year. The fair value of both time-based RSUs and performance-based RSUs pertaining to internal performance metrics is determined using the closing price of our common stock on the grant date. The fair value of performance-based RSUs pertaining to TSR is estimated using a Monte Carlo simulation. Inputs and assumptions used to calculate the fair value are shown in the table below. The fair value of these RSUs is expensed over the vesting period using the straight-line method or using the graded vesting method when an employee becomes eligible to retain the award at retirement. Three Months Ended March 31, 2022 2021 Fair value per stock award $ 141.95 $ 171.63 Grant date stock price $ 114.52 $ 141.59 Assumptions: Aptar's stock price expected volatility 20.20 % 21.40 % Expected average volatility of peer companies 41.70 % 50.00 % Correlation assumption 41.20 % 58.10 % Risk-free interest rate 2.04 % 0.32 % Dividend yield assumption 1.33 % 1.02 % A summary of RSU activity as of March 31, 2022 and changes during the three month period then ended is presented below: Time-Based RSUs Performance-Based RSUs Units Weighted Average Units Weighted Average Nonvested at January 1, 2022 485,479 $ 108.73 650,553 $ 111.04 Granted 176,096 112.64 204,377 127.95 Vested (130,763) 102.60 — — Forfeited (5,206) 110.59 (8,088) 119.16 Nonvested at March 31, 2022 525,606 $ 111.43 846,842 $ 115.05 Three Months Ended March 31, 2022 2021 Compensation expense $ 13,362 $ 11,262 Fair value of units vested 12,361 19,116 Intrinsic value of units vested 15,291 25,699 The actual tax benefit realized for the tax deduction from RSUs was approximately $2.4 million in the three months ended March 31, 2022. As of March 31, 2022, there was $71.0 million of total unrecognized compensation cost relating to RSU awards which is expected to be recognized over a weighted-average period of 2.3 years. Historically we issued stock options to our employees and non-employee directors. Beginning in 2019, we no longer issue stock options. Stock options were awarded with the exercise price equal to the market price on the date of grant and generally vest over three years and expire 10 years after grant. For stock option grants, we used historical data to estimate expected life and volatility. A summary of option activity under our stock plans during the three months ended March 31, 2022 is presented below: Stock Awards Plans Director Stock Option Plans Options Weighted Average Options Weighted Average Outstanding, January 1, 2022 3,072,503 $ 71.99 51,700 $ 63.91 Exercised (61,775) 59.68 — — Forfeited or expired (400) 51.80 — — Outstanding at March 31, 2022 3,010,328 $ 72.24 51,700 $ 63.91 Exercisable at March 31, 2022 3,010,328 $ 72.24 51,700 $ 63.91 Weighted-Average Remaining Contractual Term (Years): Outstanding at March 31, 2022 3.9 1.8 Exercisable at March 31, 2022 3.9 1.8 Aggregate Intrinsic Value: Outstanding at March 31, 2022 $ 136,239 $ 2,770 Exercisable at March 31, 2022 $ 136,239 $ 2,770 Intrinsic Value of Options Exercised During the Three Months Ended: March 31, 2022 $ 3,780 $ — March 31, 2021 $ 37,454 $ 2,474 Three Months Ended March 31, 2021 Compensation expense (included in SG&A) $ 185 Compensation expense (included in Cost of sales) 42 Compensation expense, Total $ 227 Compensation expense, net of tax 174 Grant date fair value of options vested 2,421 The reduction in stock option expense is due to our move to RSUs as discussed above. Cash received from option exercises was approximately $3.7 million during the three months ended March 31, 2022. The actual tax benefit realized for the tax deduction from option exercises was approximately $0.3 million and $9.1 million in the three months ended March 31, 2022 and 2021, respectively. As of March 31, 2022, there is no remaining valuation of stock option awards to be expensed in future periods.

EARNINGS PER SHARE

EARNINGS PER SHARE	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHAREBasic net income per share is calculated by dividing net income attributable to Aptar by the weighted-average number of common shares outstanding during the period. Diluted net income per share is calculated by dividing the net income attributable to Aptar by the weighted-average number of common and common equivalent shares outstanding during the applicable period. The difference between basic and diluted earnings per share is attributable to stock-based compensation awards. Stock-based compensation awards for which total employee proceeds exceed the average market price over the applicable period would have an antidilutive effect on earnings per share, and accordingly, are excluded from the calculation of diluted earnings per share. The reconciliation of basic and diluted earnings per share for the three months ended March 31, 2022 and 2021 is as follows: Three Months Ended March 31, 2022 March 31, 2021 Diluted Basic Diluted Basic Consolidated operations Income available to common stockholders $ 62,423 $ 62,423 $ 83,952 $ 83,952 Average equivalent shares Shares of common stock 65,543 65,543 65,229 65,229 Effect of dilutive stock-based compensation Stock options 1,193 — 1,869 — Restricted stock 410 — 550 — Total average equivalent shares 67,146 65,543 67,648 65,229 Net income per share $ 0.93 $ 0.95 $ 1.24 $ 1.29

SEGMENT INFORMATION

SEGMENT INFORMATION	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION We are organized into three reporting segments. Operations that sell dispensing systems, drug delivery systems, sealing solutions and services to the prescription drug, consumer health care, injectables, active material science solutions and digital health markets form the Pharma segment. Operations that sell dispensing systems and sealing solutions primarily to the beauty, personal care and home care markets form the Beauty + Home segment. Operations that sell dispensing systems, sealing solutions and food service trays to the food and beverage markets form the Food + Beverage segment. The accounting policies of the segments are the same as those described in Part II, Item 8, Note 1 - Summary of Significant Accounting Policies in our Annual Report on Form 10-K for the year ended December 31, 2021. We evaluate performance of our reporting segments and allocate resources based upon Adjusted EBITDA. Adjusted EBITDA is defined as earnings before net interest, taxes, depreciation, amortization, unallocated corporate expenses, restructuring initiatives, acquisition-related costs, net unrealized investment gains and losses related to observable market price changes on equity securities and other special items. Financial information regarding our reporting segments is shown below: Three Months Ended March 31, 2022 2021 Total Sales: Pharma $ 346,672 $ 315,811 Beauty + Home 374,475 353,377 Food + Beverage 134,767 116,703 Total Sales $ 855,914 $ 785,891 Less: Intersegment Sales: Pharma $ 4,210 $ 1,979 Beauty + Home 6,276 6,431 Food + Beverage 496 727 Total Intersegment Sales $ 10,982 $ 9,137 Net Sales: Pharma $ 342,462 $ 313,832 Beauty + Home 368,199 346,946 Food + Beverage 134,271 115,976 Net Sales $ 844,932 $ 776,754 Adjusted EBITDA (1): Pharma $ 115,552 $ 108,484 Beauty + Home 39,498 35,356 Food + Beverage 19,235 19,990 Corporate & Other, unallocated (17,970) (11,607) Restructuring Initiatives (2) (291) (3,672) Net unrealized investment (loss) gain (3) (2,091) 16,809 Depreciation and amortization (58,665) (57,438) Interest Expense (8,930) (7,415) Interest Income 288 381 Income before Income Taxes $ 86,626 $ 100,888 ________________________________________________ (1) We evaluate performance of our reporting segments and allocate resources based upon Adjusted EBITDA. Adjusted EBITDA is defined as earnings before net interest, taxes, depreciation, amortization, unallocated corporate expenses, restructuring initiatives, acquisition-related costs, net unrealized investment gains and losses related to observable market price changes on equity securities and other special items. (2) Restructuring Initiatives includes expense items for the three months ended March 31, 2022 and 2021 as follows (see Note 18 – Restructuring Initiatives for further details): Three Months Ended March 31, 2022 2021 Restructuring Initiatives by Segment Pharma $ — $ 35 Beauty + Home 258 1,096 Food + Beverage 33 (79) Corporate & Other — 2,620 Total Restructuring Initiatives $ 291 $ 3,672 (3) Net unrealized investment (loss) gain represents the change in fair value of our investment in PCT (see Note 17 – Investment in Equity Securities for further details).

INVESTMENT IN EQUITY SECURITIES

INVESTMENT IN EQUITY SECURITIES	3 Months Ended
	Mar. 31, 2022
Equity Method Investments and Joint Ventures [Abstract]
INVESTMENT IN EQUITY SECURITIES	INVESTMENT IN EQUITY SECURITIES Our investment in equity securities consisted of the following: March 31, December 31, Equity Method Investments: BTY $ 33,398 $ 33,199 Sonmol 5,745 5,904 Desotec GmbH 893 919 Other Investments: PureCycle 6,668 9,006 YAT 5,994 5,978 Loop 2,894 2,894 Others 1,545 1,585 $ 57,137 $ 59,485 Equity method investments BTY On January 1, 2020, we acquired 49% of the equity interests in 3 related companies: Suzhou Hsing Kwang, Suqian Hsing Kwang and Suzhou BTY (collectively referred to as “BTY”) for an approximate purchase price of $32 million. We have a call option to acquire an additional 26% to 31% of BTY’s equity interests following the initial lock-up period of 5 years based on a predetermined formula. Subsequent to the second lock-up period, which ends 3 years after the initial lock-up period, we have a call option to acquire the remaining equity interests of BTY based on a predetermined formula. Additionally, the selling shareholders of BTY have a put option for the remaining equity interest to be acquired by Aptar based on a predetermined formula. The BTY entities are leading Chinese manufacturers of high quality, decorative metal components, metal-plastic sub-assemblies, and complete color cosmetics packaging solutions for the beauty industry. Sonmol On April 1, 2020, we invested $5 million to acquire 30% of the equity interests in Healthcare, Inc., Shanghai Sonmol Internet Technology Co., Ltd. and its subsidiary, Shanghai Sonmol Medical Equipment Co., Ltd. (collectively referred to as “Sonmol”), a pharmaceutical and leading Chinese company that provides consumer electric devices and connected devices for asthma control. Kali Care During 2017, we invested $5 million to acquire 20% of the equity interests in Kali Care, a technology company that provides digital monitoring systems for medical devices. Since our investment, we have recognized approximately $1.6 million of our cumulative pro-rata share of operating losses. During 2021 and 2020, we recognized an other than temporary impairment of $0.4 million ($0.3 million after-tax) and $3.0 million ($2.3 million after-tax), respectively, on our underlying assets in this investment as a result of a reassessment of the future value of the business and continued reduction in operating cash flows. In addition to our investment, we also hold a note receivable from Kali Care for $1.5 million which is included in accounts and notes receivable in the Condensed Consolidated Balance Sheets. During March 2022, we recorded an expected credit loss reserve against the outstanding note receivable from Kali Care for $1.5 million as a result of a proposed sale of the business. Desotec GmbH During 2009, we invested €574 thousand to acquire 23% of the equity interests in Desotec GmbH, a leading manufacturer of special assembly machines for bulk processing for the pharmaceutical, beauty and home and food and beverages markets. Other investments During August 2019, we invested an aggregate amount of $3.5 million in two preferred equity investments in sustainability companies Loop and PureCycle that were accounted for at cost less impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for identical or similar investments of the same issuer. During 2020, we invested an additional $1.4 million in these two equity investments and also received $333 thousand of equity in PureCycle in exchange for our resource dedication for technological partnership and support. In November 2020, we increased the value of the PureCycle investment by $3.1 million based on observable price changes. In March 2021, PureCycle was purchased by a special purpose acquisition company and was subsequently listed on Nasdaq under the ticker PCT. At that time, our investment in PureCycle was converted into shares of PCT resulting in less than a 1% ownership interest. This investment is now recorded at fair value based on observable market prices for identical assets and the change in fair value is recorded as a net investment gain or loss in the Condensed Consolidated Statements of Income. In September 2021, we received $333 thousand of shares of PCT in exchange for our resource dedication for technological partnership and support and exercised an option to purchase $1.0 million of additional shares in connection with an FDA milestone. During October 2021, we sold 191,349 shares for $2.4 million in net proceeds, resulting in a realized gain of $2.0 million. During March 2022, we sold 107,600 shares for $1.1 million in net proceeds, resulting in a realized gain of $841 thousand. For the three months ended March 31, 2022 and 2021, we recorded a net unrealized loss on our investment in PureCycle of $1.2 million and a net unrealized gain of $16.8 million, respectively. On July 7, 2021, we investe d approximately $5.9 million to acquire 10% of the equity interests in YAT, a multi-functional, science-driven online skincare solutions company. Other than the expected credit loss reserve against the outstanding Kali Care note receivable, as noted above, there were no indications of impairment noted in the three months ended March 31, 2022 related to these investments.

RESTRUCTURING INITIATIVES

RESTRUCTURING INITIATIVES	3 Months Ended
	Mar. 31, 2022
Restructuring and Related Activities [Abstract]
RESTRUCTURING INITIATIVES	RESTRUCTURING INITIATIVES In late 2017, we began a business transformation to drive profitable sales growth, increase operational excellence, enhance our approach to innovation and improve organizational effectiveness. The primary focus of the plan was the Beauty + Home segment; however, certain global general and administrative functions were also addressed. For the three months ended March 31, 2022 and 2021, we recognized $0.3 million and $3.7 million of restructuring expenses related to this plan, respectively. As of the end of 2021, we had successfully completed the vast majority of our planned initiatives related to our transformation plan and do not expect significant additional restructuring expenses related to this plan going forward. The cumulative expense incurred as of March 31, 2022 was $136.5 million. As of March 31, 2022 we have recorded the following activity associated with the business transformation: Beginning Reserve at 12/31/2021 Net Charges for the Three Months Ended 3/31/2022 Cash Paid Interest and Ending Reserve at 3/31/2022 Employee severance $ 3,535 $ 218 $ (1,574) $ 84 $ 2,263 Professional fees and other costs 260 73 (291) (2) 40 Totals $ 3,795 $ 291 $ (1,865) $ 82 $ 2,303

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION The accompanying unaudited Condensed Consolidated Financial Statements include the accounts of AptarGroup, Inc. and our subsidiaries. The terms “AptarGroup”, “Aptar”, “Company”, “we”, “us” or “our” as used herein refer to AptarGroup, Inc. and our subsidiaries. All significant intercompany accounts and transactions have been eliminated. In the opinion of management, the unaudited Condensed Consolidated Financial Statements (the “Condensed Consolidated Financial Statements”) include all normal recurring adjustments necessary for a fair statement of consolidated financial position, results of operations, comprehensive income, changes in equity and cash flows for the interim periods presented. The accompanying Condensed Consolidated Financial Statements have been prepared by the Company, pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) have been condensed or omitted pursuant to such rules and regulations, although we believe that the disclosures made are adequate to make the information presented not misleading. Also, certain financial position data included herein was derived from the audited Consolidated Financial Statements included in our Annual Report on Form 10-K for the year ended December 31, 2021 but does not include all disclosures required by U.S. GAAP. Accordingly, these Condensed Consolidated Financial Statements and related notes should be read in conjunction with the audited Consolidated Financial Statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2021. The results of operations of any interim period are not necessarily indicative of the results that may be expected for the year. The extent to which the COVID-19 pandemic impacts our financial results and operations for all three of our business segments will depend on future developments which are highly uncertain and cannot be predicted, including the emergence of new variants, the availability, adoption and efficacy of vaccines and boosters, the length of time it takes for normal economic and operating conditions to resume, additional governmental actions that may be taken and/or extended in response to any further resurgence of the virus and numerous other uncertainties. No impairments were recorded as of March 31, 2022 related to the COVID-19 pandemic. However, due to the general uncertainty surrounding the situation, including areas such as cost inflation, supply chain disruptions and labor shortages, future results could be materially impacted. The war in Ukraine and the recent COVID-19 outbreak in China have not as of March 31, 2022 had a significant direct impact on our business in these regions, though the near-term visibility for both of these situations is expected to remain fluid and uncertain for the next several quarters. However, we have started to experience some indirect impacts on our business, including higher energy costs and certain supply chain interruptions.
ADOPTION OF RECENT ACCOUNTING STANDARDS	ADOPTION OF RECENT ACCOUNTING STANDARDS Changes to U.S. GAAP are established by the Financial Accounting Standards Board (“FASB”) in the form of Accounting Standards Updates (“ASUs”) to the FASB’s Accounting Standards Codification. In November 2021, the FASB issued ASU 2021-10, Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance. This update requires annual disclosures about transactions with a government that are accounted for by applying a grant or contribution accounting model by analogy including the nature of the transaction, the financial statement line items affected by the transaction and any significant terms and conditions associated with the transactions. We adopted this guidance in the fourth quarter of 2021 using the prospective approach. In March 2020, the FASB issued ASU 2020-04, which provides optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships and other transactions affected by reference rate reform if certain criteria are met. The amendments to this update apply only to contracts, hedging relationships and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. ASU 2020-04 was further amended in January 2021 by ASU 2021-01 which clarified the applicability of certain provisions. Both standards are effective upon issuance and can be adopted any time prior to December 31, 2022. The guidance in ASU 2020-04 and ASU 2021-01 is optional and may be elected over time as reference rate reform activities occur. During 2021, we amended the revolving credit facility to provide mechanics relating to a transition away from LIBOR (in the case of USD) and the designated benchmark rates for other available currencies and the replacement of any such applicable benchmark by a replacement alternative benchmark rate or mechanism for loans made in the applicable currency. We are evaluating any further impact this standard may have on our Condensed Consolidated Financial Statements and anticipate no further significant impacts. Other accounting standards that have been issued by the FASB or other standards-setting bodies did not have a material impact on our Condensed Consolidated Financial Statements.
INCOME TAXES	INCOME TAXES We compute taxes on income in accordance with the tax rules and regulations of the many taxing authorities where income is earned. The income tax rates imposed by these taxing authorities may vary substantially. Taxable income may differ from pre-tax income for financial accounting purposes. To the extent that these differences create timing differences between the tax basis of an asset or liability and our reported amount in the financial statements, an appropriate provision for deferred income taxes is made. We maintain our assertion that the cash and distributable reserves at our non-U.S. affiliates are indefinitely reinvested. As of March 31, 2022, under currently enacted laws, we do not have a balance of foreign earnings that will be subject to U.S. taxation upon repatriation. We will provide for the necessary withholding and local income taxes when management decides that an affiliate should make a distribution. These decisions are made taking into consideration the financial requirements of the non-U.S. affiliates and our global cash management goals. We provide a liability for the amount of unrecognized tax benefits from uncertain tax positions. This liability is provided whenever we determine that a tax benefit will not meet a more-likely-than-not threshold for recognition. We are subject to the examination of our returns and other tax matters by the U.S. Internal Revenue Service and other tax authorities and governmental bodies. We believe that we have adequately provided a tax reserve for any adjustments that may result from tax examinations or uncertain tax positions. However, the outcome of tax audits cannot be predicted with certainty. If any issues addressed in our tax audits are resolved in a manner inconsistent with our expectations, we could be required to adjust our provision for income taxes in the period such resolution occurs. The resolution of each of these audits is not expected to be material to our Condensed Consolidated Financial Statements.

REVENUE (Tables)

REVENUE (Tables)	3 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Schedule of revenue by segment by geographic area	Revenue by segment and geography for the three months ended March 31, 2022 and 2021 is as follows: For the Three Months Ended March 31, 2022 Segment Europe Domestic Latin Asia Total Pharma $ 211,007 $ 106,341 $ 7,855 $ 17,259 $ 342,462 Beauty + Home 209,083 95,816 37,198 26,102 368,199 Food + Beverage 35,041 77,848 12,691 8,691 134,271 Total $ 455,131 $ 280,005 $ 57,744 $ 52,052 $ 844,932 For the Three Months Ended March 31, 2021 Segment Europe Domestic Latin Asia Total Pharma $ 207,947 $ 89,295 $ 5,370 $ 11,220 $ 313,832 Beauty + Home 189,240 98,807 34,342 24,557 346,946 Food + Beverage 28,502 67,063 9,253 11,158 115,976 Total $ 425,689 $ 255,165 $ 48,965 $ 46,935 $ 776,754
Schedule of opening and closing balances of contract assets and contract liabilities	The opening and closing balances of our contract asset and contract liabilities are as follows: Balance as of December 31, 2021 Balance as of March 31, 2022 Increase/ Contract asset (current) $ 16,878 $ 15,236 $ (1,642) Contract liability (current) 86,340 91,711 5,371 Contract liability (long-term) 21,905 21,133 (772)

INVENTORIES (Tables)

INVENTORIES (Tables)	3 Months Ended
	Mar. 31, 2022
Inventory Disclosure [Abstract]
Schedule of inventories, by component	Inventories, by component net of reserves, consisted of: March 31, December 31, Raw materials $ 145,249 $ 140,818 Work in process 143,591 137,654 Finished goods 170,773 162,992 Total $ 459,613 $ 441,464

GOODWILL AND OTHER INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)	3 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of changes in the carrying amount of goodwill	The changes in the carrying amount of goodwill by reporting segment since December 31, 2021 are as follows: Pharma Beauty + Food + Total Balance as of December 31, 2021 $ 520,197 $ 325,719 $ 128,241 $ 974,157 Foreign currency exchange effects (9,386) (2,845) (169) (12,400) Balance as of March 31, 2022 $ 510,811 $ 322,874 $ 128,072 $ 961,757
Summary of amortized intangible assets	The table below shows a summary of intangible assets as of March 31, 2022 and December 31, 2021. March 31, 2022 December 31, 2021 Weighted Average Amortization Period (Years) Gross Accumulated Net Gross Accumulated Net Amortized intangible assets: Patents 13.9 $ 2,870 $ (1,664) $ 1,206 $ 2,767 $ (1,528) $ 1,239 Acquired technology 11.5 138,488 (47,989) 90,499 140,936 (45,613) 95,323 Customer relationships 13.3 309,610 (82,634) 226,976 311,964 (77,512) 234,452 Trademarks and trade names 7.0 44,364 (24,084) 20,280 44,893 (22,886) 22,007 License agreements and other 39.2 16,045 (6,841) 9,204 16,179 (6,857) 9,322 Total intangible assets 13.2 $ 511,377 $ (163,212) $ 348,165 $ 516,739 $ (154,396) $ 362,343
Schedule of future estimated amortization expense	Future estimated amortization expense for the years ending December 31 is as follows: 2022 $ 33,180 (remaining estimated amortization for 2022) 2023 43,721 2024 40,541 2025 39,088 2026 36,874 Thereafter 154,761

DEBT (Tables)

DEBT (Tables)	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Schedule of short-term debt	At March 31, 2022 and December 31, 2021, our notes payable, revolving credit facility and overdrafts consisted of the following: March 31, December 31, Revolving credit facility $ — $ 144,383 Overdrafts 6.25% to 13.40% 841 2,893 $ 841 $ 147,276
Schedule of long-term obligations	At March 31, 2022 and December 31, 2021, our long-term obligations consisted of the following: March 31, 2022 December 31, 2021 Notes payable 0.00% – 14.42%, due in monthly and annual installments through 2028 $ 26,087 $ 22,785 Senior unsecured notes 3.2%, due in 2022 75,000 75,000 Senior unsecured debts 1.38% USD floating swapped to 1.36% EUR fixed, due in 2022 56,000 56,000 Senior unsecured notes 3.5%, due in 2023 125,000 125,000 Senior unsecured notes 1.0%, due in 2023 110,640 113,830 Senior unsecured notes 3.4%, due in 2024 50,000 50,000 Senior unsecured notes 3.5%, due in 2024 100,000 100,000 Senior unsecured notes 1.2%, due in 2024 221,280 227,660 Senior unsecured notes 3.6%, due in 2025 125,000 125,000 Senior unsecured notes 3.6%, due in 2026 125,000 125,000 Senior unsecured notes 3.6%, due in 2032, net of discount of $1,027 398,973 — Finance Lease Liabilities 29,284 30,185 Unamortized debt issuance costs (5,236) (1,085) $ 1,437,028 $ 1,049,375 Current maturities of long-term obligations (142,178) (142,351) Total long-term obligations $ 1,294,850 $ 907,024
Schedule of maturities of long-term debt	The aggregate long-term maturities, excluding finance lease liabilities, which are disclosed in Note 7, due annually from the current balance sheet date for the next five years are: Year One $ 138,729 Year Two 343,403 Year Three 276,394 Year Four 254,268 Year Five 1,103 Thereafter 399,083
Schedule of covenants on revolving credit facility and corporate long-term obligations	Our revolving credit facility and corporate long-term obligations require us to satisfy certain financial and other covenants including: Requirement Level at March 31, 2022 Consolidated Leverage Ratio (1) Maximum of 3.50 to 1.00 1.83 to 1.00 Consolidated Interest Coverage Ratio (1) Minimum of 3.00 to 1.00 18.90 to 1.00 ________________________________________

LEASES (Tables)

LEASES (Tables)	3 Months Ended
	Mar. 31, 2022
Leases [Abstract]
Schedule of components of lease expense	The components of lease expense for the three months ended March 31, 2022 and 2021 were as follows: Three Months Ended March 31, 2022 2021 Operating lease cost $ 5,281 $ 5,789 Finance lease cost: Amortization of right-of-use assets $ 1,129 $ 976 Interest on lease liabilities 325 312 Total finance lease cost $ 1,454 $ 1,288 Short-term lease and variable lease costs $ 3,982 $ 3,128
Schedule of supplemental cash flow information related to leases	Supplemental cash flow information related to leases was as follows: Three Months Ended March 31, 2022 2021 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 5,500 $ 5,755 Operating cash flows from finance leases 335 349 Financing cash flows from finance leases 1,179 1,198 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 6,406 $ 1,496 Finance leases 599 47

RETIREMENT AND DEFERRED COMPE_2

RETIREMENT AND DEFERRED COMPENSATION PLANS (Tables)	3 Months Ended
	Mar. 31, 2022
Retirement Benefits [Abstract]
Components of net periodic benefit cost	Components of Net Periodic Benefit Cost: Domestic Plans Foreign Plans Three Months Ended March 31, 2022 2021 2022 2021 Service cost $ 3,945 $ 4,227 $ 1,970 $ 2,078 Interest cost 1,742 1,611 373 218 Expected return on plan assets (3,227) (3,073) (727) (723) Amortization of net loss 1,667 2,503 444 589 Amortization of prior service cost — — 38 45 Net periodic benefit cost $ 4,127 $ 5,268 $ 2,098 $ 2,207

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE INCOME (Tables)	3 Months Ended
	Mar. 31, 2022
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Changes in Accumulated Other Comprehensive Income/(Loss) by Component	Changes in Accumulated Other Comprehensive (Loss) Income by Component: Foreign Currency Defined Benefit Pension Plans Derivatives Total Balance - December 31, 2020 $ (178,025) $ (102,322) $ (1,362) $ (281,709) Other comprehensive (loss) income before reclassifications (48,482) 319 5,061 (43,102) Amounts reclassified from accumulated other comprehensive income (loss) — 2,387 (4,541) (2,154) Net current-period other comprehensive (loss) income (48,482) 2,706 520 (45,256) Balance - March 31, 2021 $ (226,507) $ (99,616) $ (842) $ (326,965) Balance - December 31, 2021 $ (249,500) $ (66,486) $ (55) $ (316,041) Other comprehensive (loss) income before reclassifications (23,080) (783) 1,192 (22,671) Amounts reclassified from accumulated other comprehensive income (loss) — 1,608 (1,604) 4 Net current-period other comprehensive (loss) income (23,080) 825 (412) (22,667) Balance - March 31, 2022 $ (272,580) $ (65,661) $ (467) $ (338,708)
Reclassifications Out of Accumulated Other Comprehensive (Loss) Income	Reclassifications Out of Accumulated Other Comprehensive (Loss) Income: Details about Accumulated Other Amount Reclassified from Accumulated Other Comprehensive Income Affected Line in the Statement Three Months Ended March 31, 2022 2021 Defined Benefit Pension Plans Amortization of net loss $ 2,111 $ 3,092 (1) Amortization of prior service cost 38 45 (1) 2,149 3,137 Total before tax (541) (750) Tax impact $ 1,608 $ 2,387 Net of tax Derivatives Changes in cross currency swap: interest component $ (20) $ (12) Interest Expense Changes in cross currency swap: foreign exchange component (1,584) (4,529) Miscellaneous, net $ (1,604) $ (4,541) Net of tax Total reclassifications for the period $ 4 $ (2,154) ______________________________________________ (1) These accumulated other comprehensive income components are included in the computation of net periodic benefit costs, net of tax. See Note 8 – Retirement and Deferred Compensation Plans for additional details.

DERIVATIVE INSTRUMENTS AND HE_2

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)	3 Months Ended
	Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Fair Value of Derivative Instruments in the Consolidated Balance Sheets	Fair Value of Derivative Instruments in the Condensed Consolidated Balance Sheets as of March 31, 2022 and December 31, 2021 March 31, 2022 December 31, 2021 Balance Sheet Location Derivatives Designated as Hedging Instruments Derivatives not Designated as Hedging Instruments Derivatives Designated as Hedging Instruments Derivatives not Designated as Hedging Instruments Derivative Assets Foreign Exchange Contracts Prepaid and other $ — $ 358 $ — $ 331 Cross Currency Swap Contract (1) Prepaid and other 1,657 — 511 — $ 1,657 $ 358 $ 511 $ 331 Derivative Liabilities Foreign Exchange Contracts Accounts payable, accrued and other liabilities $ — $ 2,329 $ — $ 221 $ — $ 2,329 $ — $ 221 __________________________ (1) This cross currency swap contract is composed of both an interest component and a foreign exchange component.
Schedule of Effect of Cash Flow Hedge Accounting on Accumulated Other Comprehensive Income (Loss)	The Effect of Cash Flow Hedge Accounting on Accumulated Other Comprehensive Income (Loss) for the Three Months Ended March 31, 2022 and 2021 Derivatives in Cash Flow Hedging Amount of Gain (Loss) Location of (Loss) Amount of Gain (Loss) Total Amount of Affected Income Statement Line Item 2022 2021 2022 2021 Cross currency swap contract: Interest component $ (392) $ 532 Interest expense $ 20 $ 12 $ (8,930) Foreign exchange component 1,584 4,529 Miscellaneous, net 1,584 4,529 (1,103) $ 1,192 $ 5,061 $ 1,604 $ 4,541
Schedule of Effect of Derivatives Not Designated as Hedging Instruments on the Consolidated Statements of Income	The Effect of Derivatives Not Designated as Hedging Instruments on the Condensed Consolidated Statements of Income for the Three Months Ended March 31, 2022 and 2021 Derivatives Not Designated Location of (Loss) Gain Recognized Amount of (Loss) Gain 2022 2021 Foreign Exchange Contracts Other (Expense) Income: $ (2,100) $ (513) $ (2,100) $ (513)
Schedule of offsetting derivative assets and liabilities	Gross Amounts Offset in the Statement of Financial Position Net Amounts Presented in the Statement of Financial Position Gross Amounts not Offset in the Statement of Financial Position Gross Amount Financial Instruments Cash Collateral Received Net Amount March 31, 2022 Derivative Assets $ 2,015 — $ 2,015 — — $ 2,015 Total Assets $ 2,015 — $ 2,015 — — $ 2,015 Derivative Liabilities $ 2,329 — $ 2,329 — — $ 2,329 Total Liabilities $ 2,329 — $ 2,329 — — $ 2,329 December 31, 2021 Derivative Assets $ 842 — $ 842 — — $ 842 Total Assets $ 842 — $ 842 — — $ 842 Derivative Liabilities $ 221 — $ 221 — — $ 221 Total Liabilities $ 221 — $ 221 — — $ 221

FAIR VALUE (Tables)

FAIR VALUE (Tables)	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Schedule of fair values of financial assets and liabilities	As of March 31, 2022, the fair values of our financial assets and liabilities were categorized as follows: Total Level 1 Level 2 Level 3 Assets Investment in equity securities (1) $ 6,668 $ 6,668 $ — $ — Foreign exchange contracts (2) 358 — 358 — Cross currency swap contract (2) 1,657 — 1,657 — Convertible note 5,000 — — 5,000 Total assets at fair value $ 13,683 $ 6,668 $ 2,015 $ 5,000 Liabilities Foreign exchange contracts (2) $ 2,329 $ — $ 2,329 $ — Contingent consideration obligation 32,858 — — 32,858 Total liabilities at fair value $ 35,187 $ — $ 2,329 $ 32,858 As of December 31, 2021, the fair values of our financial assets and liabilities were categorized as follows: Total Level 1 Level 2 Level 3 Assets Investment in equity securities (1) $ 9,006 $ 9,006 $ — $ — Foreign exchange contracts (2) 331 — 331 — Cross currency swap contract (2) 511 — 511 — Total assets at fair value $ 9,848 $ 9,006 $ 842 $ — Liabilities Foreign exchange contracts (2) $ 221 $ — $ 221 $ — Contingent consideration obligation 33,908 — — 33,908 Total liabilities at fair value $ 34,129 $ — $ 221 $ 33,908 ________________________________________________ (1) Investment in PureCycle Technologies ("PCT" or "PureCycle" ). See Note 17 - Investment in Equity Securities for discussion of this investment. (2) Market approach valuation technique based on observable market transactions of spot and forward rates.
Schedule of contingent consideration arrangements, fair value	We consider these obligations Level 3 liabilities and have estimated the aggregate fair value for these contingent consideration arrangements as follows: March 31, 2022 December 31, 2021 Fusion Acquisition $ 26,116 $ 27,166 Noble Acquisition 6,742 6,742 $ 32,858 $ 33,908
Summary of changes in Level 3 fair value measurements	The following table provides a summary of changes in our Level 3 fair value measurements: Balance, December 31, 2021 $ 33,908 Decrease in fair value recorded in earnings (1,050) Balance, March 31, 2022 $ 32,858

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	3 Months Ended
	Mar. 31, 2022
Share-based Payment Arrangement [Abstract]
Weighted-average assumptions used to estimate fair value of restricted stock units	Inputs and assumptions used to calculate the fair value are shown in the table below. The fair value of these RSUs is expensed over the vesting period using the straight-line method or using the graded vesting method when an employee becomes eligible to retain the award at retirement. Three Months Ended March 31, 2022 2021 Fair value per stock award $ 141.95 $ 171.63 Grant date stock price $ 114.52 $ 141.59 Assumptions: Aptar's stock price expected volatility 20.20 % 21.40 % Expected average volatility of peer companies 41.70 % 50.00 % Correlation assumption 41.20 % 58.10 % Risk-free interest rate 2.04 % 0.32 % Dividend yield assumption 1.33 % 1.02 %
Summary of restricted stock unit activity	A summary of RSU activity as of March 31, 2022 and changes during the three month period then ended is presented below: Time-Based RSUs Performance-Based RSUs Units Weighted Average Units Weighted Average Nonvested at January 1, 2022 485,479 $ 108.73 650,553 $ 111.04 Granted 176,096 112.64 204,377 127.95 Vested (130,763) 102.60 — — Forfeited (5,206) 110.59 (8,088) 119.16 Nonvested at March 31, 2022 525,606 $ 111.43 846,842 $ 115.05
Schedule of compensation expense, fair value, and intrinsic value related to RSU's	Three Months Ended March 31, 2022 2021 Compensation expense $ 13,362 $ 11,262 Fair value of units vested 12,361 19,116 Intrinsic value of units vested 15,291 25,699
Summary of option activity	A summary of option activity under our stock plans during the three months ended March 31, 2022 is presented below: Stock Awards Plans Director Stock Option Plans Options Weighted Average Options Weighted Average Outstanding, January 1, 2022 3,072,503 $ 71.99 51,700 $ 63.91 Exercised (61,775) 59.68 — — Forfeited or expired (400) 51.80 — — Outstanding at March 31, 2022 3,010,328 $ 72.24 51,700 $ 63.91 Exercisable at March 31, 2022 3,010,328 $ 72.24 51,700 $ 63.91 Weighted-Average Remaining Contractual Term (Years): Outstanding at March 31, 2022 3.9 1.8 Exercisable at March 31, 2022 3.9 1.8 Aggregate Intrinsic Value: Outstanding at March 31, 2022 $ 136,239 $ 2,770 Exercisable at March 31, 2022 $ 136,239 $ 2,770 Intrinsic Value of Options Exercised During the Three Months Ended: March 31, 2022 $ 3,780 $ — March 31, 2021 $ 37,454 $ 2,474
Schedule of compensation expense, and fair value related to options	Three Months Ended March 31, 2021 Compensation expense (included in SG&A) $ 185 Compensation expense (included in Cost of sales) 42 Compensation expense, Total $ 227 Compensation expense, net of tax 174 Grant date fair value of options vested 2,421

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Reconciliation of Basic and Diluted Earnings Per Share	The reconciliation of basic and diluted earnings per share for the three months ended March 31, 2022 and 2021 is as follows: Three Months Ended March 31, 2022 March 31, 2021 Diluted Basic Diluted Basic Consolidated operations Income available to common stockholders $ 62,423 $ 62,423 $ 83,952 $ 83,952 Average equivalent shares Shares of common stock 65,543 65,543 65,229 65,229 Effect of dilutive stock-based compensation Stock options 1,193 — 1,869 — Restricted stock 410 — 550 — Total average equivalent shares 67,146 65,543 67,648 65,229 Net income per share $ 0.93 $ 0.95 $ 1.24 $ 1.29

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Financial information regarding the Company's reportable segments	Financial information regarding our reporting segments is shown below: Three Months Ended March 31, 2022 2021 Total Sales: Pharma $ 346,672 $ 315,811 Beauty + Home 374,475 353,377 Food + Beverage 134,767 116,703 Total Sales $ 855,914 $ 785,891 Less: Intersegment Sales: Pharma $ 4,210 $ 1,979 Beauty + Home 6,276 6,431 Food + Beverage 496 727 Total Intersegment Sales $ 10,982 $ 9,137 Net Sales: Pharma $ 342,462 $ 313,832 Beauty + Home 368,199 346,946 Food + Beverage 134,271 115,976 Net Sales $ 844,932 $ 776,754 Adjusted EBITDA (1): Pharma $ 115,552 $ 108,484 Beauty + Home 39,498 35,356 Food + Beverage 19,235 19,990 Corporate & Other, unallocated (17,970) (11,607) Restructuring Initiatives (2) (291) (3,672) Net unrealized investment (loss) gain (3) (2,091) 16,809 Depreciation and amortization (58,665) (57,438) Interest Expense (8,930) (7,415) Interest Income 288 381 Income before Income Taxes $ 86,626 $ 100,888 ________________________________________________ (1) We evaluate performance of our reporting segments and allocate resources based upon Adjusted EBITDA. Adjusted EBITDA is defined as earnings before net interest, taxes, depreciation, amortization, unallocated corporate expenses, restructuring initiatives, acquisition-related costs, net unrealized investment gains and losses related to observable market price changes on equity securities and other special items. (2) Restructuring Initiatives includes expense items for the three months ended March 31, 2022 and 2021 as follows (see Note 18 – Restructuring Initiatives for further details): Three Months Ended March 31, 2022 2021 Restructuring Initiatives by Segment Pharma $ — $ 35 Beauty + Home 258 1,096 Food + Beverage 33 (79) Corporate & Other — 2,620 Total Restructuring Initiatives $ 291 $ 3,672 (3) Net unrealized investment (loss) gain represents the change in fair value of our investment in PCT (see Note 17 – Investment in Equity Securities for further details).
Restructuring Initiatives	Restructuring Initiatives includes expense items for the three months ended March 31, 2022 and 2021 as follows (see Note 18 – Restructuring Initiatives for further details): Three Months Ended March 31, 2022 2021 Restructuring Initiatives by Segment Pharma $ — $ 35 Beauty + Home 258 1,096 Food + Beverage 33 (79) Corporate & Other — 2,620 Total Restructuring Initiatives $ 291 $ 3,672

INVESTMENT IN EQUITY SECURITI_2

INVESTMENT IN EQUITY SECURITIES (Tables)	3 Months Ended
	Mar. 31, 2022
Equity Method Investments and Joint Ventures [Abstract]
Schedule of investments in equity securities	Our investment in equity securities consisted of the following: March 31, December 31, Equity Method Investments: BTY $ 33,398 $ 33,199 Sonmol 5,745 5,904 Desotec GmbH 893 919 Other Investments: PureCycle 6,668 9,006 YAT 5,994 5,978 Loop 2,894 2,894 Others 1,545 1,585 $ 57,137 $ 59,485

RESTRUCTURING INITIATIVES (Tabl

RESTRUCTURING INITIATIVES (Tables)	3 Months Ended
	Mar. 31, 2022
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Reserve by Type of Cost	As of March 31, 2022 we have recorded the following activity associated with the business transformation: Beginning Reserve at 12/31/2021 Net Charges for the Three Months Ended 3/31/2022 Cash Paid Interest and Ending Reserve at 3/31/2022 Employee severance $ 3,535 $ 218 $ (1,574) $ 84 $ 2,263 Professional fees and other costs 260 73 (291) (2) 40 Totals $ 3,795 $ 291 $ (1,865) $ 82 $ 2,303

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - (Details)	3 Months Ended
	Mar. 31, 2022USD ($)segment
Accounting Policies [Abstract]
Number of business segments | segment	3
Impairment charges | $	$ 0

REVENUE - Revenue by Geographic

REVENUE - Revenue by Geographic Segment (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
REVENUE
Net revenue	$ 844,932	$ 776,754
Pharma
REVENUE
Net revenue	342,462	313,832
Beauty + Home
REVENUE
Net revenue	368,199	346,946
Food + Beverage
REVENUE
Net revenue	134,271	115,976
Europe
REVENUE
Net revenue	455,131	425,689
Europe | Pharma
REVENUE
Net revenue	211,007	207,947
Europe | Beauty + Home
REVENUE
Net revenue	209,083	189,240
Europe | Food + Beverage
REVENUE
Net revenue	35,041	28,502
Domestic
REVENUE
Net revenue	280,005	255,165
Domestic | Pharma
REVENUE
Net revenue	106,341	89,295
Domestic | Beauty + Home
REVENUE
Net revenue	95,816	98,807
Domestic | Food + Beverage
REVENUE
Net revenue	77,848	67,063
Latin America
REVENUE
Net revenue	57,744	48,965
Latin America | Pharma
REVENUE
Net revenue	7,855	5,370
Latin America | Beauty + Home
REVENUE
Net revenue	37,198	34,342
Latin America | Food + Beverage
REVENUE
Net revenue	12,691	9,253
Asia
REVENUE
Net revenue	52,052	46,935
Asia | Pharma
REVENUE
Net revenue	17,259	11,220
Asia | Beauty + Home
REVENUE
Net revenue	26,102	24,557
Asia | Food + Beverage
REVENUE
Net revenue	$ 8,691	$ 11,158

REVENUE - Contract Assets and C

REVENUE - Contract Assets and Contract Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Contract asset (current)	$ 15,236	$ 16,878
Increase / (decrease) in contract asset (current)	(1,642)
Contract liability (current)	91,711	86,340
Increase / (decrease) in contract liability (current)	5,371
Contract liability (long-term)	21,133	$ 21,905
Increase / (decrease) in contract liability (long-term)	(772)
Revenue recognized previously included in current contract liabilities	25,400
Revenue recognized previously included in current contract liabilities at the beginning of the year	$ 21,400

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Inventories, by component
Raw materials	$ 145,249	$ 140,818
Work in process	143,591	137,654
Finished goods	170,773	162,992
Total	$ 459,613	$ 441,464

GOODWILL AND OTHER INTANGIBLE_3

GOODWILL AND OTHER INTANGIBLE ASSETS - Schedule of Goodwill (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)
Changes in the carrying amount of goodwill
Goodwill, beginning balance	$ 974,157
Foreign currency exchange effects	(12,400)
Goodwill, ending balance	961,757
Operating segment | Pharma
Changes in the carrying amount of goodwill
Goodwill, beginning balance	520,197
Foreign currency exchange effects	(9,386)
Goodwill, ending balance	510,811
Operating segment | Beauty + Home
Changes in the carrying amount of goodwill
Goodwill, beginning balance	325,719
Foreign currency exchange effects	(2,845)
Goodwill, ending balance	322,874
Operating segment | Food + Beverage
Changes in the carrying amount of goodwill
Goodwill, beginning balance	128,241
Foreign currency exchange effects	(169)
Goodwill, ending balance	$ 128,072

GOODWILL AND OTHER INTANGIBLE_4

GOODWILL AND OTHER INTANGIBLE ASSETS - Summary of Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Amortized intangible assets
Gross Carrying Amount	$ 511,377		$ 516,739
Accumulated Amortization	(163,212)		(154,396)
Net Value	348,165		362,343
Aggregate amortization expense	$ 11,027	$ 9,811
Weighted Average
Amortized intangible assets
Amortization Period (in years)	13 years 2 months 12 days
Patents
Amortized intangible assets
Gross Carrying Amount	$ 2,870		2,767
Accumulated Amortization	(1,664)		(1,528)
Net Value	$ 1,206		1,239
Patents | Weighted Average
Amortized intangible assets
Amortization Period (in years)	13 years 10 months 24 days
Acquired technology
Amortized intangible assets
Gross Carrying Amount	$ 138,488		140,936
Accumulated Amortization	(47,989)		(45,613)
Net Value	$ 90,499		95,323
Acquired technology | Weighted Average
Amortized intangible assets
Amortization Period (in years)	11 years 6 months
Customer relationships
Amortized intangible assets
Gross Carrying Amount	$ 309,610		311,964
Accumulated Amortization	(82,634)		(77,512)
Net Value	$ 226,976		234,452
Customer relationships | Weighted Average
Amortized intangible assets
Amortization Period (in years)	13 years 3 months 18 days
Trademarks and trade names
Amortized intangible assets
Gross Carrying Amount	$ 44,364		44,893
Accumulated Amortization	(24,084)		(22,886)
Net Value	$ 20,280		22,007
Trademarks and trade names | Weighted Average
Amortized intangible assets
Amortization Period (in years)	7 years
License agreements and other
Amortized intangible assets
Gross Carrying Amount	$ 16,045		16,179
Accumulated Amortization	(6,841)		(6,857)
Net Value	$ 9,204		$ 9,322
License agreements and other | Weighted Average
Amortized intangible assets
Amortization Period (in years)	39 years 2 months 12 days

GOODWILL AND OTHER INTANGIBLE_5

GOODWILL AND OTHER INTANGIBLE ASSETS - Future Amortization Expense (Details) $ in Thousands	Mar. 31, 2022USD ($)
Statement of Financial Position [Abstract]
2022	$ 33,180
2023	43,721
2024	40,541
2025	39,088
2026	36,874
Thereafter	$ 154,761

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Effective income tax rate (as a percent)	28.00%	16.80%
Effective income tax rate, tax expense (benefit), stock-based compensation		$ (8)
Effective income tax rate, tax expense (benefit), changes in US state tax laws		$ (2.9)

DEBT - Short-term Debt Obligati

DEBT - Short-term Debt Obligations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Short-term Debt [Line Items]
Notes payable, revolving credit facility and overdrafts	$ 841	$ 147,276
Revolving credit facility
Short-term Debt [Line Items]
Notes payable, revolving credit facility and overdrafts	0	144,383
Overdrafts
Short-term Debt [Line Items]
Notes payable, revolving credit facility and overdrafts	$ 841	$ 2,893
Overdrafts | Minimum
Short-term Debt [Line Items]
Interest rate (as a percent)	6.25%
Overdrafts | Maximum
Short-term Debt [Line Items]
Interest rate (as a percent)	13.40%

DEBT - Narrative (Details)

DEBT - Narrative (Details) € in Millions	Jun. 30, 2021USD ($)extension	Mar. 31, 2022USD ($)	Mar. 07, 2022USD ($)	Dec. 31, 2021USD ($)	Dec. 31, 2021EUR (€)	Oct. 31, 2020USD ($)	Dec. 31, 2017
Line of Credit Facility [Line Items]
Short-term borrowing		$ 841,000		$ 147,276,000
Commercial Paper
Line of Credit Facility [Line Items]
Short-term borrowing		0		0
Short-term borrowing, maximum borrowing capacity						$ 30,000,000
Amended Revolving Credit Facility
Line of Credit Facility [Line Items]
Line of credit facility, number of extensions | extension	2
Line of credit facility, duration of extension (in years)	1 year
Line of credit facility, maximum borrowing capacity	$ 600,000,000
Line of credit facility, increase limit	$ 300,000,000
Compensating balance, amount		0
Amended Revolving Credit Facility | United States
Line of Credit Facility [Line Items]
Short-term borrowing		0		133,000,000
Amended Revolving Credit Facility | United Kingdom
Line of Credit Facility [Line Items]
Short-term borrowing				11,400,000	€ 10
Notes payable
Line of Credit Facility [Line Items]
Remaining outstanding under the amended term facility		$ 56,000,000		56,000,000
Interest rate on notes (as a percent)		1.36%					1.36%
Senior unsecured notes 3.6%, due in 2032, net of discount of $1,027
Line of Credit Facility [Line Items]
Remaining outstanding under the amended term facility		$ 398,973,000		$ 0
Interest rate on notes (as a percent)		3.60%
Senior unsecured notes 3.6%, due in 2032, net of discount of $1,027 | Senior Unsecured Debt
Line of Credit Facility [Line Items]
Aggregate amount of debt issued			$ 400,000,000
Interest rate on notes (as a percent)			3.60%

DEBT - Long-Term Obligations (D

DEBT - Long-Term Obligations (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Dec. 31, 2017
Components of the company's debt obligations
Finance Lease Liabilities	$ 29,284	$ 30,185
Unamortized debt issuance costs	(5,236)	(1,085)
Long-term debt and lease obligation, including current maturities	1,437,028	1,049,375
Current maturities of long-term obligations	(142,178)	(142,351)
Total long-term obligations	$ 1,294,850	907,024
Consolidated Leverage Ratio	1.83
Consolidated Interest Coverage Ratio	18.90
Minimum
Components of the company's debt obligations
Consolidated Interest Coverage Ratio	3
Maximum
Components of the company's debt obligations
Consolidated Leverage Ratio	3.50
Notes payable 0.00% – 14.42%, due in monthly and annual installments through 2028
Components of the company's debt obligations
Long-term debt, gross	$ 26,087	22,785
Notes payable 0.00% – 14.42%, due in monthly and annual installments through 2028 | Minimum
Components of the company's debt obligations
Interest rate on notes (as a percent)	0.00%
Notes payable 0.00% – 14.42%, due in monthly and annual installments through 2028 | Maximum
Components of the company's debt obligations
Interest rate on notes (as a percent)	14.42%
Senior unsecured notes 3.2%, due in 2022
Components of the company's debt obligations
Long-term debt, gross	$ 75,000	75,000
Interest rate on notes (as a percent)	3.20%
Senior unsecured debts 1.38% USD floating swapped to 1.36% EUR fixed, due in 2022
Components of the company's debt obligations
Long-term debt, gross	$ 56,000	56,000
Interest rate on notes (as a percent)	1.36%		1.36%
Floating interest rate prior to conversion to a fixed interest rate (as a percent)	1.38%
Senior unsecured notes 3.5%, due in 2023
Components of the company's debt obligations
Long-term debt, gross	$ 125,000	125,000
Interest rate on notes (as a percent)	3.50%
Senior unsecured notes 1.0%, due in 2023
Components of the company's debt obligations
Long-term debt, gross	$ 110,640	113,830
Interest rate on notes (as a percent)	1.00%
Senior unsecured notes 3.4%, due in 2024
Components of the company's debt obligations
Long-term debt, gross	$ 50,000	50,000
Interest rate on notes (as a percent)	3.40%
Senior unsecured notes 3.5%, due in 2024
Components of the company's debt obligations
Long-term debt, gross	$ 100,000	100,000
Interest rate on notes (as a percent)	3.50%
Senior unsecured notes 1.2%, due in 2024
Components of the company's debt obligations
Long-term debt, gross	$ 221,280	227,660
Interest rate on notes (as a percent)	1.20%
Senior unsecured notes 3.6%, due in 2025
Components of the company's debt obligations
Long-term debt, gross	$ 125,000	125,000
Interest rate on notes (as a percent)	3.60%
Senior unsecured notes 3.6%, due in 2026
Components of the company's debt obligations
Long-term debt, gross	$ 125,000	125,000
Interest rate on notes (as a percent)	3.60%
Senior unsecured notes 3.6%, due in 2032, net of discount of $1,027
Components of the company's debt obligations
Long-term debt, gross	$ 398,973	$ 0
Interest rate on notes (as a percent)	3.60%
Debt instrument, discount	$ 1,027

DEBT - Long-Term Maturities (De

DEBT - Long-Term Maturities (Details) $ in Thousands	Mar. 31, 2022USD ($)
Debt Disclosure [Abstract]
Year One	$ 138,729
Year Two	343,403
Year Three	276,394
Year Four	254,268
Year Five	1,103
Thereafter	$ 399,083

LEASES - Components of Lease Ex

LEASES - Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Components of lease expense:
Operating lease cost	$ 5,281	$ 5,789
Finance lease cost:
Amortization of right-of-use assets	1,129	976
Interest on lease liabilities	325	312
Total finance lease cost	1,454	1,288
Short-term lease and variable lease costs	$ 3,982	$ 3,128

LEASES - Supplemental Cash Flow

LEASES - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 5,500	$ 5,755
Operating cash flows from finance leases	335	349
Financing cash flows from finance leases	1,179	1,198
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	6,406	1,496
Finance leases	$ 599	$ 47

RETIREMENT AND DEFERRED COMPE_3

RETIREMENT AND DEFERRED COMPENSATION PLANS - Components of Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
United States
Components of net periodic benefit cost:
Service cost	$ 3,945	$ 4,227
Interest cost	1,742	1,611
Expected return on plan assets	(3,227)	(3,073)
Amortization of net loss	1,667	2,503
Amortization of prior service cost	0	0
Net periodic benefit cost	4,127	5,268
Foreign Plans
Components of net periodic benefit cost:
Service cost	1,970	2,078
Interest cost	373	218
Expected return on plan assets	(727)	(723)
Amortization of net loss	444	589
Amortization of prior service cost	38	45
Net periodic benefit cost	$ 2,098	$ 2,207

RETIREMENT AND DEFERRED COMPE_4

RETIREMENT AND DEFERRED COMPENSATION PLANS - Narrative (Details)	3 Months Ended
	Mar. 31, 2022USD ($)
United States
Changes in the benefit obligations and plan assets
Minimum funding requirements	$ 0
Defined benefit plan, plan assets, contributions by employer	15,200,000
Foreign Plans
Changes in the benefit obligations and plan assets
Defined benefit plan, plan assets, contributions by employer	$ 500,000

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE INCOME - Changes in Accumulated Other Comprehensive Income by Component (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Accumulated other comprehensive income activity
Balance at the beginning of the period	$ 1,969,407
Other comprehensive (loss) income before reclassifications	(22,671)	$ (43,102)
Amounts reclassified from accumulated other comprehensive income (loss)	4	(2,154)
Net current-period other comprehensive (loss) income	(22,667)	(45,256)
Balance at the end of the period	1,983,272
Accumulated Other Comprehensive Income/(Loss)
Accumulated other comprehensive income activity
Balance at the beginning of the period	(316,041)	(281,709)
Balance at the end of the period	(338,708)	(326,965)
Foreign Currency
Accumulated other comprehensive income activity
Balance at the beginning of the period	(249,500)	(178,025)
Other comprehensive (loss) income before reclassifications	(23,080)	(48,482)
Amounts reclassified from accumulated other comprehensive income (loss)	0	0
Net current-period other comprehensive (loss) income	(23,080)	(48,482)
Balance at the end of the period	(272,580)	(226,507)
Defined Benefit Pension Plans
Accumulated other comprehensive income activity
Balance at the beginning of the period	(66,486)	(102,322)
Other comprehensive (loss) income before reclassifications	(783)	319
Amounts reclassified from accumulated other comprehensive income (loss)	1,608	2,387
Net current-period other comprehensive (loss) income	825	2,706
Balance at the end of the period	(65,661)	(99,616)
Derivatives
Accumulated other comprehensive income activity
Balance at the beginning of the period	(55)	(1,362)
Other comprehensive (loss) income before reclassifications	1,192	5,061
Amounts reclassified from accumulated other comprehensive income (loss)	(1,604)	(4,541)
Net current-period other comprehensive (loss) income	(412)	520
Balance at the end of the period	$ (467)	$ (842)

ACCUMULATED OTHER COMPREHENSI_4

ACCUMULATED OTHER COMPREHENSIVE INCOME - Reclassifications From Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Amount Reclassified from Accumulated Other Comprehensive Income
Interest expense	$ (8,930)	$ (7,415)
Miscellaneous, net	(1,103)	(963)
Income before Income Taxes	86,626	100,888
Tax benefit	(24,255)	(16,949)
Net Income	62,371	83,939
Amount Reclassified from Accumulated Other Comprehensive Income
Amount Reclassified from Accumulated Other Comprehensive Income
Net Income	4	(2,154)
Defined Benefit Pension Plans | Amount Reclassified from Accumulated Other Comprehensive Income
Amount Reclassified from Accumulated Other Comprehensive Income
Amortization of net loss	2,111	3,092
Amortization of prior service cost	38	45
Income before Income Taxes	2,149	3,137
Tax benefit	(541)	(750)
Net Income	1,608	2,387
Derivatives | Amount Reclassified from Accumulated Other Comprehensive Income
Amount Reclassified from Accumulated Other Comprehensive Income
Net Income	(1,604)	(4,541)
Derivatives | Changes in cross currency swap: interest component | Amount Reclassified from Accumulated Other Comprehensive Income
Amount Reclassified from Accumulated Other Comprehensive Income
Interest expense	(20)	(12)
Derivatives | Changes in cross currency swap: foreign exchange component | Amount Reclassified from Accumulated Other Comprehensive Income
Amount Reclassified from Accumulated Other Comprehensive Income
Miscellaneous, net	$ (1,584)	$ (4,529)

DERIVATIVE INSTRUMENTS AND HE_3

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2017
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Net after-tax gain (loss) included in accumulated other comprehensive earnings	$ (412)	$ 520
Cross Currency Swap Contract | Derivatives in Cash Flow Hedging Relationships
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount hedged			$ 280,000
Net after-tax gain (loss) included in accumulated other comprehensive earnings	(500)
Cash flow hedge derivative instrument asset at fair value	1,700
Interest Rate Swap | Derivatives in Cash Flow Hedging Relationships
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain (loss) expected to be recognized in earnings in next twelve months related to cross currency swap contract	$ 131
Notes payable
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Proceeds from debt			$ 280,000
Interest rate on notes (as a percent)	1.36%		1.36%

DERIVATIVE INSTRUMENTS AND HE_4

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Fair Value of Derivative Instruments in the Consolidated Balance Sheets (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Fair Value of Derivative Instruments
Derivative assets	$ 2,015	$ 842
Derivative liabilities	2,329	221
Foreign Exchange Contracts
Fair Value of Derivative Instruments
Derivative, notional amount	58,900
Derivatives Designated as Hedging Instruments
Fair Value of Derivative Instruments
Derivative assets	1,657	511
Derivative liabilities	0	0
Derivatives Designated as Hedging Instruments | Foreign Exchange Contracts | Prepaid and other
Fair Value of Derivative Instruments
Derivative assets	0	0
Derivatives Designated as Hedging Instruments | Foreign Exchange Contracts | Accounts payable, accrued and other liabilities
Fair Value of Derivative Instruments
Derivative liabilities	0	0
Derivatives Designated as Hedging Instruments | Cross Currency Swap Contract | Prepaid and other
Fair Value of Derivative Instruments
Derivative assets	1,657	511
Derivatives not Designated as Hedging Instruments
Fair Value of Derivative Instruments
Derivative assets	358	331
Derivative liabilities	2,329	221
Derivatives not Designated as Hedging Instruments | Foreign Exchange Contracts | Prepaid and other
Fair Value of Derivative Instruments
Derivative assets	358	331
Derivatives not Designated as Hedging Instruments | Foreign Exchange Contracts | Accounts payable, accrued and other liabilities
Fair Value of Derivative Instruments
Derivative liabilities	2,329	221
Derivatives not Designated as Hedging Instruments | Cross Currency Swap Contract | Prepaid and other
Fair Value of Derivative Instruments
Derivative assets	$ 0	$ 0

DERIVATIVE INSTRUMENTS AND HE_5

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Effect of Cash Flow Hedge Accounting on Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Derivative instruments, gain or (loss)
Interest expense	$ (8,930)	$ (7,415)
Miscellaneous, net	(1,103)	(963)
Derivatives in Cash Flow Hedging Relationships
Derivative instruments, gain or (loss)
Amount of Gain (Loss) Recognized in Other Comprehensive Income on Derivative	1,192	5,061
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income on Derivative	1,604	4,541
Changes in cross currency swap: interest component | Derivatives in Cash Flow Hedging Relationships
Derivative instruments, gain or (loss)
Interest expense	(8,930)
Changes in cross currency swap: interest component | Interest expense | Derivatives in Cash Flow Hedging Relationships
Derivative instruments, gain or (loss)
Amount of Gain (Loss) Recognized in Other Comprehensive Income on Derivative	(392)	532
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income on Derivative	20	12
Changes in cross currency swap: foreign exchange component | Derivatives in Cash Flow Hedging Relationships
Derivative instruments, gain or (loss)
Miscellaneous, net	(1,103)
Changes in cross currency swap: foreign exchange component | Other Income (Expense): Miscellaneous, net | Derivatives in Cash Flow Hedging Relationships
Derivative instruments, gain or (loss)
Amount of Gain (Loss) Recognized in Other Comprehensive Income on Derivative	1,584	4,529
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income on Derivative	$ 1,584	$ 4,529

DERIVATIVE INSTRUMENTS AND HE_6

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Effect of Derivatives Not Designated as Hedging Instruments on the Condensed Consolidated Statement of Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of (Loss) Gain Recognized in Income on Derivatives	$ (2,100)	$ (513)
Foreign Exchange Contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of (Loss) Gain Recognized in Income on Derivatives	$ (2,100)	$ (513)

DERIVATIVE INSTRUMENTS AND HE_7

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Schedule of Derivative Assets and Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Derivative Assets
Gross Amount	$ 2,015	$ 842
Net Amounts Presented in the Statement of Financial Position	2,015	842
Net Amount	2,015	842
Derivative Liabilities
Gross Amount	2,329	221
Net Amounts Presented in the Statement of Financial Position	2,329	221
Net Amount	$ 2,329	$ 221

FAIR VALUE - Fair Value of Fina

FAIR VALUE - Fair Value of Financial Assets and Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Apr. 01, 2020	Oct. 31, 2019
Liabilities
Fair value of long-term obligations	$ 1,200,000	$ 900,000
Fusion Packaging
Liabilities
Percentage of interest acquired			100.00%
Noble
Liabilities
Percentage of interest acquired				100.00%
Level 3
Liabilities
Contingent consideration obligation	32,858	33,908
Level 3 | Enable Injections, Inc.
Assets
Convertible note	5,000
Level 3 | Fusion Packaging
Liabilities
Contingent consideration obligation	26,116	27,166
Level 3 | Noble
Liabilities
Contingent consideration obligation	6,742	6,742
Assets and liabilities measured at fair value on recurring basis
Assets
Investment in equity securities	6,668	9,006
Foreign exchange contracts	358	331
Cross currency swap contract	1,657	511
Convertible note	5,000
Total assets at fair value	13,683	9,848
Liabilities
Foreign exchange contracts	2,329	221
Contingent consideration obligation	32,858	33,908
Total liabilities at fair value	35,187	34,129
Assets and liabilities measured at fair value on recurring basis | Level 1
Assets
Investment in equity securities	6,668	9,006
Foreign exchange contracts	0	0
Cross currency swap contract	0	0
Convertible note	0
Total assets at fair value	6,668	9,006
Liabilities
Foreign exchange contracts	0	0
Contingent consideration obligation	0	0
Total liabilities at fair value	0	0
Assets and liabilities measured at fair value on recurring basis | Level 2
Assets
Investment in equity securities	0	0
Foreign exchange contracts	358	331
Cross currency swap contract	1,657	511
Convertible note	0
Total assets at fair value	2,015	842
Liabilities
Foreign exchange contracts	2,329	221
Contingent consideration obligation	0	0
Total liabilities at fair value	2,329	221
Assets and liabilities measured at fair value on recurring basis | Level 3
Assets
Investment in equity securities	0	0
Foreign exchange contracts	0	0
Cross currency swap contract	0	0
Convertible note	5,000
Total assets at fair value	5,000	0
Liabilities
Foreign exchange contracts	0	0
Contingent consideration obligation	32,858	33,908
Total liabilities at fair value	$ 32,858	$ 33,908

FAIR VALUE - Contingent Conside

FAIR VALUE - Contingent Consideration Fair Value (Details) - Level 3 - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Contingent consideration obligation	$ 32,858	$ 33,908
Fusion Packaging
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Contingent consideration obligation	26,116	27,166
Noble
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Contingent consideration obligation	$ 6,742	$ 6,742

FAIR VALUE - Roll Forward (Deta

FAIR VALUE - Roll Forward (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of period	$ 33,908
Decrease in fair value recorded in earnings	(1,050)
Balance at end of period	$ 32,858

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) - USD ($)	Mar. 31, 2022	Dec. 31, 2021	Dec. 31, 2019
Indemnification agreements
Commitments and contingencies
Liabilities recorded under indemnification agreements	$ 0	$ 0
Tax Assessment | Brazil
Commitments and contingencies
Estimated loss contingency			$ 6,100,000
Loss contingency liability recorded	$ 0
Tax Assessment, Interest | Brazil
Commitments and contingencies
Estimated loss contingency			2,300,000
Tax Assessment, Penalites | Brazil
Commitments and contingencies
Estimated loss contingency			$ 800,000

STOCK REPURCHASE PROGRAM (Detai

STOCK REPURCHASE PROGRAM (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Apr. 18, 2019
Stock repurchase program
Common stock repurchased (retired and held in treasury) (in shares)	140,000	0
Common stock repurchased (retired and held in treasury)	$ 16,000,000
Remaining authorized repurchase amount	$ 184,400,000
Stock Repurchase Program April 18, 2019
Stock repurchase program
Share repurchases authorized amount			$ 350,000,000

STOCK-BASED COMPENSATION - Narr

STOCK-BASED COMPENSATION - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award
Proceeds from stock option exercises	$ 3,688	$ 31,871
Time-Based RSUs
Share-based Compensation Arrangement by Share-based Payment Award
Vesting period (in years)	3 years
Performance-Based RSUs
Share-based Compensation Arrangement by Share-based Payment Award
Vesting period (in years)	3 years
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award
Tax benefit	$ 2,400
Unrecognized compensation expense	$ 71,000
Weighted-average period cost will be recognized over	2 years 3 months 18 days
Restricted Stock Units | Director Stock Option Plans
Share-based Compensation Arrangement by Share-based Payment Award
Vesting period (in years)	1 year
Options
Share-based Compensation Arrangement by Share-based Payment Award
Vesting period (in years)	3 years
Tax benefit	$ 300	$ 9,100
Expiration period (in years)	10 years
Proceeds from stock option exercises	$ 3,700

STOCK-BASED COMPENSATION - Assu

STOCK-BASED COMPENSATION - Assumptions Used (Details) - Performance-Based RSUs - $ / shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award
Fair value per stock award (in dollars per share)	$ 141.95	$ 171.63
Grant date stock price (in dollars per share)	$ 114.52	$ 141.59
Aptar's stock price expected volatility	20.20%	21.40%
Expected average volatility of peer companies	41.70%	50.00%
Correlation assumption	41.20%	58.10%
Risk-free interest rate	2.04%	0.32%
Dividend yield assumption	1.33%	1.02%

STOCK-BASED COMPENSATION - Rest

STOCK-BASED COMPENSATION - Restricted Stock Unit Activity (Details)	3 Months Ended
	Mar. 31, 2022$ / sharesshares
Time-Based RSUs
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Nonvested outstanding beginning balance (in shares) | shares	485,479
Granted (in shares) | shares	176,096
Vested (in shares) | shares	(130,763)
Forfeited (in shares) | shares	(5,206)
Nonvested outstanding ending balance (in shares) | shares	525,606
Weighted Average Grant Date Fair Value
Outstanding, Weighted average grant date fair value begging balance (in dollars per share) | $ / shares	$ 108.73
Granted, Weighted average grant date fair value (in dollars per share) | $ / shares	112.64
Vested, Weighted average grant date fair value (in dollars per share) | $ / shares	102.60
Forfeited, Weighted average grant date fair value (in dollars per share) | $ / shares	110.59
Outstanding, Weighted average grant date fair value ending balance (in dollars per share) | $ / shares	$ 111.43
Performance-Based RSUs
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Nonvested outstanding beginning balance (in shares) | shares	650,553
Granted (in shares) | shares	204,377
Vested (in shares) | shares	0
Forfeited (in shares) | shares	(8,088)
Nonvested outstanding ending balance (in shares) | shares	846,842
Weighted Average Grant Date Fair Value
Outstanding, Weighted average grant date fair value begging balance (in dollars per share) | $ / shares	$ 111.04
Granted, Weighted average grant date fair value (in dollars per share) | $ / shares	127.95
Vested, Weighted average grant date fair value (in dollars per share) | $ / shares	0
Forfeited, Weighted average grant date fair value (in dollars per share) | $ / shares	119.16
Outstanding, Weighted average grant date fair value ending balance (in dollars per share) | $ / shares	$ 115.05

STOCK-BASED COMPENSATION - Comp

STOCK-BASED COMPENSATION - Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award
Compensation expense	$ 13,362	$ 11,262
Fair value of units vested	12,361	19,116
Intrinsic value of units vested	$ 15,291	25,699
Options
Share-based Compensation Arrangement by Share-based Payment Award
Compensation expense		227
Compensation expense, net of tax		174
Grant date fair value of options vested		2,421
Options | Selling Research And Development And Administrative Expenses
Share-based Compensation Arrangement by Share-based Payment Award
Compensation expense		185
Options | Cost of Sales
Share-based Compensation Arrangement by Share-based Payment Award
Compensation expense		$ 42

STOCK-BASED COMPENSATION - Summ

STOCK-BASED COMPENSATION - Summary of Option Activity (Details) - Options - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Stock Awards Plans
Stock options activity
Outstanding at the beginning of the period (in shares)	3,072,503
Exercised (in shares)	(61,775)
Forfeited or expired (in shares)	(400)
Outstanding at the end of the period (in shares)	3,010,328
Stock option weighted average exercise price
Outstanding at the beginning of the period (in dollars per share)	$ 71.99
Options exercised, Weighted average exercise price per share (in dollars per share)	59.68
Options forfeited or expired, Weighted average exercise price per share (in dollars per share)	51.80
Outstanding at the end of the period (in dollars per share)	$ 72.24
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Options exercisable, Number of options (in shares)	3,010,328
Options exercisable, Weighted average exercise price per share (in dollars per share)	$ 72.24
Options outstanding, Weighted average remaining contractual term (in years)	3 years 10 months 24 days
Options exercisable, Weighted average remaining contractual term (in years)	3 years 10 months 24 days
Options outstanding, Aggregate intrinsic value (in USD)	$ 136,239
Options exercisable, Aggregate intrinsic value (in USD)	136,239
Options exercised, Intrinsic value, at end of period	$ 3,780	$ 37,454
Director Stock Option Plans
Stock options activity
Outstanding at the beginning of the period (in shares)	51,700
Exercised (in shares)	0
Forfeited or expired (in shares)	0
Outstanding at the end of the period (in shares)	51,700
Stock option weighted average exercise price
Outstanding at the beginning of the period (in dollars per share)	$ 63.91
Options exercised, Weighted average exercise price per share (in dollars per share)	0
Options forfeited or expired, Weighted average exercise price per share (in dollars per share)	0
Outstanding at the end of the period (in dollars per share)	$ 63.91
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Options exercisable, Number of options (in shares)	51,700
Options exercisable, Weighted average exercise price per share (in dollars per share)	$ 63.91
Options outstanding, Weighted average remaining contractual term (in years)	1 year 9 months 18 days
Options exercisable, Weighted average remaining contractual term (in years)	1 year 9 months 18 days
Options outstanding, Aggregate intrinsic value (in USD)	$ 2,770
Options exercisable, Aggregate intrinsic value (in USD)	2,770
Options exercised, Intrinsic value, at end of period	$ 0	$ 2,474

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Numerator
Income available to common stockholders, Diluted	$ 62,423	$ 83,952
Income available to common stockholders, Basic	$ 62,423	$ 83,952
Denominator (Shares)
Basic (in shares)	65,543	65,229
Effect of dilutive stock-based compensation
Diluted (in shares)	67,146	67,648
Per Share Amount
Diluted (in dollars per share)	$ 0.93	$ 1.24
Basic (in dollars per share)	$ 0.95	$ 1.29
Options
Effect of dilutive stock-based compensation
Incremental common shares attributable to dilutive effect of share-based payment arrangements (in shares)	1,193	1,869
Restricted Stock Units
Effect of dilutive stock-based compensation
Incremental common shares attributable to dilutive effect of share-based payment arrangements (in shares)	410	550

SEGMENT INFORMATION - Summary o

SEGMENT INFORMATION - Summary of Reportable Segments (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)segment	Mar. 31, 2021USD ($)
Segment Reporting [Abstract]
Number of reportable segments | segment	3
Financial information regarding the Company's reportable segments
Net Sales	$ 844,932	$ 776,754
Restructuring initiatives	(291)	(3,672)
Net unrealized investment (loss) gain	(2,091)	16,809
Depreciation and amortization	(58,665)	(57,438)
Interest expense	(8,930)	(7,415)
Interest income	288	381
Income before Income Taxes	86,626	100,888
Pharma
Financial information regarding the Company's reportable segments
Net Sales	342,462	313,832
Adjusted EBITDA	115,552	108,484
Restructuring initiatives	0	(35)
Beauty + Home
Financial information regarding the Company's reportable segments
Net Sales	368,199	346,946
Adjusted EBITDA	39,498	35,356
Restructuring initiatives	(258)	(1,096)
Food + Beverage
Financial information regarding the Company's reportable segments
Net Sales	134,271	115,976
Adjusted EBITDA	19,235	19,990
Restructuring initiatives	(33)	79
Corporate & Other, unallocated
Financial information regarding the Company's reportable segments
Adjusted EBITDA	(17,970)	(11,607)
Restructuring initiatives	0	(2,620)
Operating segment
Financial information regarding the Company's reportable segments
Net Sales	855,914	785,891
Operating segment | Pharma
Financial information regarding the Company's reportable segments
Net Sales	346,672	315,811
Operating segment | Beauty + Home
Financial information regarding the Company's reportable segments
Net Sales	374,475	353,377
Operating segment | Food + Beverage
Financial information regarding the Company's reportable segments
Net Sales	134,767	116,703
Intersegment
Financial information regarding the Company's reportable segments
Net Sales	10,982	9,137
Intersegment | Pharma
Financial information regarding the Company's reportable segments
Net Sales	4,210	1,979
Intersegment | Beauty + Home
Financial information regarding the Company's reportable segments
Net Sales	6,276	6,431
Intersegment | Food + Beverage
Financial information regarding the Company's reportable segments
Net Sales	$ 496	$ 727

INVESTMENT IN EQUITY SECURITI_3

INVESTMENT IN EQUITY SECURITIES - Schedule of Investments (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Schedule of Equity Method Investments [Line Items]
Total equity method investments and other investments	$ 57,137	$ 59,485
BTY
Schedule of Equity Method Investments [Line Items]
Equity method investments	33,398	33,199
Sonmol
Schedule of Equity Method Investments [Line Items]
Equity method investments	5,745	5,904
Desotec GmbH
Schedule of Equity Method Investments [Line Items]
Equity method investments	893	919
PureCycle
Schedule of Equity Method Investments [Line Items]
Other investments	6,668	9,006
YAT
Schedule of Equity Method Investments [Line Items]
Other investments	5,994	5,978
Loop
Schedule of Equity Method Investments [Line Items]
Other investments	2,894	2,894
Others
Schedule of Equity Method Investments [Line Items]
Other investments	$ 1,545	$ 1,585

INVESTMENT IN EQUITY SECURITI_4

INVESTMENT IN EQUITY SECURITIES - Narrative (Details) € in Thousands

Jul. 07, 2021USD ($)

Apr. 01, 2020USD ($)

Jan. 01, 2020USD ($)

Mar. 31, 2022USD ($)shares

Oct. 31, 2021USD ($)shares

Sep. 30, 2021USD ($)

Nov. 30, 2020USD ($)

Aug. 31, 2019USD ($)investment

Mar. 31, 2022USD ($)

Mar. 31, 2021USD ($)

Dec. 31, 2021USD ($)

Dec. 31, 2020USD ($)

Dec. 31, 2017USD ($)

Dec. 31, 2009EUR (€)

Mar. 31, 2022USD ($)

Schedule of Equity Method Investments [Line Items]

Income (Loss) from equity method investment

$ (86,000)

$ (515,000)

Unrealized gain (loss) on investments

(2,091,000)

$ 16,809,000

Other Investments

Schedule of Equity Method Investments [Line Items]

Investment impairment

0

BTY

Schedule of Equity Method Investments [Line Items]

Ownership percentage of equity method investment

49.00%

Investment in unconsolidated affiliate

$ 32,000,000

Initial lock-up period (in years)

5 years

Second lock-up period (in years)

3 years

BTY | Call Option | Minimum

Schedule of Equity Method Investments [Line Items]

Ownership percentage of equity method investment

26.00%

BTY | Call Option | Maximum

Schedule of Equity Method Investments [Line Items]

Ownership percentage of equity method investment

31.00%

Sonmol

Schedule of Equity Method Investments [Line Items]

Ownership percentage of equity method investment

30.00%

Investment in unconsolidated affiliate

$ 5,000,000

Kali Care

Schedule of Equity Method Investments [Line Items]

Ownership percentage of equity method investment

20.00%

Investment in unconsolidated affiliate

$ 5,000,000

Income (Loss) from equity method investment

$ (1,600,000)

Investment impairment

$ 400,000

$ 3,000,000

Investment impairment, net

$ 300,000

2,300,000

Note receivable

$ 1,500,000

1,500,000

1,500,000

Note receivable, bad debt reserve

$ 1,500,000

1,500,000

$ 1,500,000

Desotec GmbH

Schedule of Equity Method Investments [Line Items]

Ownership percentage of equity method investment

23.00%

Investment in unconsolidated affiliate | €

€ 574

Loop and Purecycle | Preferred stock

Schedule of Equity Method Investments [Line Items]

Investment in unconsolidated affiliate

$ 3,500,000

Number of preferred equity investments | investment

2

Increase (decrease) in value of preferred equity stock investment

1,400,000

PureCycle

Schedule of Equity Method Investments [Line Items]

Investment ownership percentage

0.01

PureCycle | Preferred stock

Schedule of Equity Method Investments [Line Items]

Equity received in exchange for services

$ 333,000

$ 333,000

Increase (decrease) in value of preferred equity stock investment

$ 3,100,000

FDA milestone tranche

$ 1,000,000

Number of shares sold (in shares) | shares

107,600

191,349

Proceeds from sale of equity securities

$ 1,100,000

$ 2,400,000

Realized gain on investments

$ 841,000

$ 2,000,000

Unrealized gain (loss) on investments

$ (1,200,000)

$ 16,800,000

YAT

Schedule of Equity Method Investments [Line Items]

Investment in unconsolidated affiliate

$ 5,900,000

Investment ownership percentage

0.10

RESTRUCTURING INITIATIVES - Nar

RESTRUCTURING INITIATIVES - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Restructuring Cost and Reserve [Line Items]
Restructuring initiatives	$ 291	$ 3,672
Business Transformation
Restructuring Cost and Reserve [Line Items]
Restructuring initiatives	291	$ 3,700
Cumulative expense incurred	$ 136,500

RESTRUCTURING INITIATIVES - Bus

RESTRUCTURING INITIATIVES - Business Transformation Activity (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Restructuring reserve
Net Charges	$ 291	$ 3,672
Business Transformation
Restructuring reserve
Restructuring reserve, balance at the beginning of the period	3,795
Net Charges	291	$ 3,700
Cash Paid	(1,865)
Interest and FX Impact	82
Restructuring reserve, balance at the end of the period	2,303
Employee severance | Business Transformation
Restructuring reserve
Restructuring reserve, balance at the beginning of the period	3,535
Net Charges	218
Cash Paid	(1,574)
Interest and FX Impact	84
Restructuring reserve, balance at the end of the period	2,263
Professional fees and other costs | Business Transformation
Restructuring reserve
Restructuring reserve, balance at the beginning of the period	260
Net Charges	73
Cash Paid	(291)
Interest and FX Impact	(2)
Restructuring reserve, balance at the end of the period	$ 40