AptarGroup (ATR) 10-Q 28 Apr 23 2023 Q1 Quarterly report Financial data

COVER

COVER - shares	3 Months Ended
	Mar. 31, 2023	Apr. 24, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
Document Transition Report	false
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 301
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		65,521,443
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
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, 2023	Mar. 31, 2022
Income Statement [Abstract]
Net Sales	$ 860,067	$ 844,932
Operating Expenses:
Cost of sales (exclusive of depreciation and amortization shown below)	557,422	542,728
Selling, research & development and administrative	147,923	145,541
Depreciation and amortization	59,259	58,665
Restructuring initiatives	11,524	291
​Total Operating Expenses	776,128	747,225
Operating Income	83,939	97,707
Other (Expense) Income:
Interest expense	(10,228)	(8,930)
Interest income	672	288
Net investment gain (loss)	188	(1,250)
Equity in results of affiliates	(131)	(86)
Miscellaneous, net	(1,171)	(1,103)
​Total Other Expense	(10,670)	(11,081)
Income before Income Taxes	73,269	86,626
Provision for Income Taxes	18,683	24,255
Net Income	54,586	62,371
Net Loss Attributable to Noncontrolling Interests	178	52
Net Income Attributable to AptarGroup, Inc.	$ 54,764	$ 62,423
Net Income Attributable to AptarGroup, Inc. per Common Share:
Basic (in dollars per share)	$ 0.84	$ 0.95
Diluted (in dollars per share)	$ 0.82	$ 0.93
Average Number of Shares Outstanding:
Basic (in shares)	65,372	65,543
Diluted (in shares)	66,735	67,146
Dividends per Common Share (in dollars per share)	$ 0.38	$ 0.38

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement of Comprehensive Income [Abstract]
Net Income	$ 54,586	$ 62,371
Other Comprehensive Income (Loss):
Foreign currency translation adjustments	25,624	(23,042)
Changes in derivative losses, net of tax	(1,367)	(412)
Defined benefit pension plan, net of tax
Actuarial gain (loss), net of tax	61	(783)
Amortization of prior service cost included in net income, net of tax	32	28
Amortization of net loss included in net income, net of tax	160	1,580
Total defined benefit pension plan, net of tax	253	825
Total other comprehensive income (loss)	24,510	(22,629)
Comprehensive Income	79,096	39,742
Comprehensive (Income) Loss Attributable to Noncontrolling Interests	(665)	14
Comprehensive Income Attributable to AptarGroup, Inc.	$ 78,431	$ 39,756

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Assets
Cash and equivalents	$ 126,810	$ 141,732
Accounts and notes receivable, less current expected credit loss ("CECL") of $11,556 in 2023 and $9,519 in 2022	695,118	676,987
Inventories	512,687	486,806
Prepaid and other	146,894	124,766
Total Current Assets	1,481,509	1,430,291
Land	30,712	30,197
Buildings and improvements	716,801	693,542
Machinery and equipment	3,004,084	2,925,517
Property, Plant and Equipment, Gross	3,751,597	3,649,256
Less: Accumulated depreciation	(2,373,751)	(2,305,592)
​Property, Plant and Equipment, Net	1,377,846	1,343,664
Investments in equity securities	52,581	52,308
Goodwill	955,602	945,632
Intangible assets, net	310,808	315,744
Operating lease right-of-use assets	59,716	58,675
Miscellaneous	64,736	57,144
Total Other Assets	1,443,443	1,429,503
Total Assets	4,302,798	4,203,458
Current Liabilities:
Notes payable, revolving credit facility and overdrafts	12,733	3,810
Current maturities of long-term obligations, net of unamortized debt issuance costs	218,731	118,981
Accounts payable, accrued and other liabilities	809,696	794,385
Total Current Liabilities	1,041,160	917,176
Long-Term Obligations, net of unamortized debt issuance costs	955,918	1,052,597
Deferred income taxes	19,900	20,563
Retirement and deferred compensation plans	52,757	48,977
Operating lease liabilities	43,576	42,948
Deferred and other non-current liabilities	61,730	52,993
Commitments and contingencies	0	0
​Total Deferred Liabilities and Other	177,963	165,481
AptarGroup, Inc. stockholders’ equity
Common stock, $.01 par value, 199 million shares authorized, 71.1 million and 70.9 million shares issued as of March 31, 2023 and December 31, 2022, respectively	711	709
Capital in excess of par value	990,984	968,618
Retained earnings	1,958,930	1,929,240
Accumulated other comprehensive loss	(317,473)	(341,366)
Less: Treasury stock at cost, 5.7 million and 5.6 million shares as of March 31, 2023 and December 31, 2022, respectively	(520,329)	(503,266)
Total AptarGroup, Inc. Stockholders’ Equity	2,112,823	2,053,935
Noncontrolling interests in subsidiaries	14,934	14,269
Total Stockholders’ Equity	2,127,757	2,068,204
Total Liabilities and Stockholders’ Equity	$ 4,302,798	$ 4,203,458

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Accounts and notes receivable, allowance for credit loss (in dollars)	$ 11,556	$ 9,519
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)	71,100,000	70,900,000
Treasury stock (in shares)	5,700,000	5,600,000

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, 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
Beginning balance at Dec. 31, 2022	2,068,204	1,929,240	(341,366)	709	(503,266)	968,618	14,269
Increase (Decrease) in Stockholders' Equity
Net income (loss)	54,586	54,764					(178)
Foreign currency translation adjustments	25,624	(226)	25,007				843
Changes in unrecognized pension gains (losses) and related amortization, net of tax	253		253
Changes in derivative gains (losses), net of tax	(1,367)		(1,367)
Stock awards and option exercises	25,034			2	2,666	22,366
Cash dividends declared on common stock	(24,848)	(24,848)
Treasury stock purchased	(19,729)				(19,729)
Ending balance at Mar. 31, 2023	$ 2,127,757	$ 1,958,930	$ (317,473)	$ 711	$ (520,329)	$ 990,984	$ 14,934

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($)	Mar. 31, 2022 USD ($)
Cash Flows from Operating Activities:
Net Income	$ 54,586	$ 62,371
Adjustments to reconcile net income to net cash provided by operations:
Depreciation	48,297	47,638
Amortization	10,963	11,027
Stock-based compensation	15,042	13,362
Provision for CECL	2,203	1,393
Gain on disposition of fixed assets	(302)	(182)
Net (gain) loss on remeasurement of equity securities	(188)	1,250
Deferred income taxes	(5,483)	(2,859)
Defined benefit plan expense	3,537	6,225
Equity in results of affiliates	131	86
Change in fair value of contingent consideration	0	(1,050)
Changes in balance sheet items, excluding effects from foreign currency adjustments:
Accounts and other receivables	(7,845)	(28,977)
Inventories	(17,415)	(21,758)
Prepaid and other current assets	(20,578)	(10,629)
Accounts payable, accrued and other liabilities	24,639	32,012
Income taxes payable	(364)	1,697
Retirement and deferred compensation plan liabilities	(7,809)	(19,913)
Other changes, net	(1,110)	384
Net Cash Provided by Operations	98,304	92,077
Cash Flows from Investing Activities:
Capital expenditures	(77,825)	(73,058)
Proceeds from government grants	0	7,955
Proceeds from sale of property, plant and equipment	635	446
Maturity of short-term investment	0	24
Acquisition of businesses, net of cash acquired and release of escrow	(11,209)	0
Acquisition of intangible assets, net	(650)	0
Proceeds from sale of investment in equity securities	0	1,088
Notes receivable, net	(132)	(4,876)
Net Cash Used by Investing Activities	(89,181)	(68,421)
Cash Flows from Financing Activities:
Proceeds from notes payable and overdrafts	16,086	9,172
Repayments of notes payable and overdrafts	(7,473)	(11,293)
Repayments and proceeds of short term revolving credit facility, net	0	(144,345)
Proceeds from long-term obligations	210	402,153
Repayments of long-term obligations	(2,888)	(2,795)
Debt issuance costs	0	(3,766)
Dividends paid	(24,848)	(24,912)
Proceeds from stock option exercises	13,809	3,688
Purchase of treasury stock	(19,729)	(15,983)
Net Cash (Used) Provided by Financing Activities	(24,833)	211,919
Effect of Exchange Rate Changes on Cash	788	(2,871)
Net (Decrease) Increase in Cash and Equivalents and Restricted Cash	(14,922)	232,704
Cash and Equivalents and Restricted Cash at Beginning of Period	142,732	122,925
Cash and Equivalents and Restricted Cash at End of Period	127,810	355,629
Cash and equivalents	126,810	355,629
Restricted cash included in prepaid and other	1,000	0
Total Cash and Equivalents and Restricted Cash shown in the Statement of Cash Flows	$ 127,810	$ 355,629

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2023
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. Certain previously reported amounts have been reclassified to conform to the current period presentation. 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, 2022 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, 2022. The results of operations of any interim period are not necessarily indicative of the results that may be expected for the year. 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 September 2022, the FASB issued ASU 2022-04, Liabilities-Supplier Finance Programs (Topic 405), which enhances the transparency of supplier finance programs and requires certain disclosures for a buyer in a supplier finance program. The requirements are effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, except for the amendment on roll forward information, which is effective for fiscal years beginning after December 13, 2023. Early adoption is permitted. We adopted this guidance in the fourth quarter of 2022. 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 could 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 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. We plan on adopting this guidance during the second quarter of 2023. 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 the income is earned. The income tax rates imposed by these taxing authorities may vary substantially. Taxable income may differ from pre-tax income for U.S. GAAP 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 U.S. GAAP 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 with the following exceptions: all earnings in Germany and the pre-2020 earnings in Italy, Switzerland and Columbia. Under current U.S. tax laws, all of our non-U.S. earnings are subject to U.S. taxation on a current or deferred basis. We will provide for the necessary withholding tax, local income taxes, and U.S. federal and state 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 taxation and file income tax returns in the U.S. federal jurisdiction and many state and foreign jurisdictions. We believe that an adequate provision has been made for any adjustments that may result from tax examinations. 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. SUPPLY CHAIN FINANCE PROGRAM We facilitate a supply chain finance program ("SCF") across Europe and the U.S. that is administered by a third-party platform. Eligible suppliers can elect to receive early payment of invoices, less an interest deduction, and negotiate their receivable sales arrangements through the third-party platform on behalf of the respective SCF bank. We are not a party to those agreements, and the terms of our payment obligations are not impacted by a supplier's participation in the SCF. Accordingly, we have concluded that this program continues to be a trade payable program and is not indicative of a borrowing arrangement. Under these agreements, the average payment terms range from 60 to 120 days and are based on industry standards and best practices within each of our regions. All outstanding amounts related to suppliers participating in the SCF are recorded within Accounts payable, accrued and other liabilities in our Condensed Consolidated Balance Sheets, and associated payments are included in operating activities within our Condensed Consolidated Statements of Cash Flows. As of March 31, 2023, the amounts due to suppliers participating in the SCF and included in Accounts payable, accrued and other liabilities were approximately $38.5 million. We have lengthened the payment terms with our suppliers to be in line with customer trends. While we have offered a third party alternative for our suppliers to receive payments sooner, we generally do not utilize these offerings from our customers as the economic conditions currently are not beneficial for us.

REVENUE

REVENUE	3 Months Ended
	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
REVENUE	REVENUE Segment financial information for the prior periods has been recast to conform to the current presentation. Refer to Note 16 - Segment Information. Revenue by segment and geography based on shipped from locations for the three months ended March 31, 2023 and 2022 is as follows: For the Three Months Ended March 31, 2023 Segment Europe Domestic Latin Asia Total Aptar Pharma $ 227,116 $ 102,274 $ 7,223 $ 19,433 $ 356,046 Aptar Beauty 212,010 59,288 35,252 19,839 326,389 Aptar Closures 57,340 86,916 20,141 13,235 177,632 Total $ 496,466 $ 248,478 $ 62,616 $ 52,507 $ 860,067 For the Three Months Ended March 31, 2022 Segment Europe Domestic Latin Asia Total Aptar Pharma $ 211,007 $ 106,341 $ 7,855 $ 17,259 $ 342,462 Aptar Beauty 187,759 69,380 29,690 22,251 309,080 Aptar Closures 56,365 104,284 20,199 12,542 193,390 Total $ 455,131 $ 280,005 $ 57,744 $ 52,052 $ 844,932 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 invoicing for 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, 2022 Balance as of March 31, 2023 Increase/ Contract asset (current) $ 16,736 $ 20,390 $ 3,654 Contract liability (current) 80,241 96,839 16,598 Contract liability (long-term) 25,361 31,692 6,331 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 invoicing. The total amount of revenue recognized during the current year against contract liabilities is $29.3 million, including $21.2 million relating to contract liabilities at the beginning of the year. Current 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 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, 2023 or December 31, 2022. Service Sales We also provide services to our customers. As with product sales, we recognize revenue based on completion of each performance obligation of the service contract. Milestone deliverables and upfront payments are tied to specific performance obligations and recognized upon satisfaction of the individual performance obligation. 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, 2023
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES Inventories, by component net of reserves, consisted of: March 31, December 31, Raw materials $ 155,564 $ 159,041 Work in process 176,306 153,592 Finished goods 180,817 174,173 Total $ 512,687 $ 486,806

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS	3 Months Ended
	Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER INTANGIBLE ASSETS	GOODWILL AND OTHER INTANGIBLE ASSETS The changes in the carrying amount of goodwill for the three months ended March 31, 2023 by reporting segment are as follows: Aptar Aptar Aptar Closures Total Balance as of December 31, 2022 $ 498,742 $ 319,011 $ 127,879 $ 945,632 Reclassification due to segment change — (39,472) 39,472 — Acquisition — 3,549 239 3,788 Foreign currency exchange effects 4,663 1,330 189 6,182 Balance as of March 31, 2023 $ 503,405 $ 284,418 $ 167,779 $ 955,602 The table below shows a summary of intangible assets as of March 31, 2023 and December 31, 2022. March 31, 2023 December 31, 2022 Weighted Average Amortization Period (Years) Gross Accumulated Net Gross Accumulated Net Amortized intangible assets: Patents 8.8 $ 8,133 $ (2,141) $ 5,992 $ 8,044 $ (1,968) $ 6,076 Acquired technology 11.4 139,729 (60,291) 79,438 135,191 (56,628) 78,563 Customer relationships 13.4 307,992 (105,722) 202,270 305,994 (99,130) 206,864 Trademarks and trade names 7.2 44,657 (29,877) 14,780 43,998 (28,190) 15,808 License agreements and other 38.9 15,540 (7,212) 8,328 15,425 (6,992) 8,433 Total intangible assets 13.2 $ 516,051 $ (205,243) $ 310,808 $ 508,652 $ (192,908) $ 315,744 Aggregate amortization expense for the intangible assets above for the three months ended March 31, 2023 and 2022 was $10,963 and $11,027, respectively. Future estimated amortization expense for the years ending December 31 is as follows: 2023 $ 33,697 (remaining estimated amortization for 2023) 2024 41,457 2025 39,971 2026 37,519 2027 24,778 Thereafter 133,386 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, 2023.

INCOME TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2023
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, 2023 and 2022, respectively, was 25.5% and 28.0%. The lower effective tax rate for the three months ended March 31, 2023 reflects tax benefits from amended U.S. tax filings of $1.3 million and an increase in tax benefits from share based compensation of $0.8 million.

DEBT

DEBT	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
DEBT	DEBT Notes Payable, Revolving Credit Facility and Overdrafts At March 31, 2023 and December 31, 2022, our notes payable, revolving credit facility and overdrafts consisted of the following: March 31, December 31, Overdrafts 1.46% to 15.40% 12,733 3,810 $ 12,733 $ 3,810 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 then-existing facility maturing July 2022 (the "prior credit facility") 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 matured in July 2022 and was repaid in full. 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, 2023 and December 31, 2022, no balance was utilized under the revolving credit facility in the U.S. and no balance was utilized by our wholly-owned UK subsidiary. 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, 2023 or December 31, 2022. Long-Term Obligations On March 7, 2022, we issued $400 million aggregate principal amount of 3.60% 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, 2023 and December 31, 2022, our long-term obligations consisted of the following: March 31, 2023 December 31, 2022 Notes payable 0.00% – 16.42%, due in monthly and annual installments through 2028 $ 28,093 $ 29,167 Senior unsecured notes 1.0%, due in 2023 108,455 106,995 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 216,910 213,990 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 $0.9 million 399,076 399,050 Finance Lease Liabilities 26,486 26,934 Unamortized debt issuance costs (4,371) (4,558) $ 1,174,649 $ 1,171,578 Current maturities of long-term obligations (218,731) (118,981) Total long-term obligations $ 955,918 $ 1,052,597 The aggregate long-term maturities, excluding finance lease liabilities and unamortized debt issuance costs, which are discussed in Note 7, due annually from the current balance sheet date for the next five years and thereafter are: Year One $ 215,607 Year Two 276,944 Year Three 258,681 Year Four 2,030 Year Five 74 Thereafter 399,198 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, 2023 Consolidated Leverage Ratio (1) Maximum of 3.50 to 1.00 1.80 to 1.00 Consolidated Interest Coverage Ratio (1) Minimum of 3.00 to 1.00 14.19 to 1.00 ________________________________________

LEASES

LEASES	3 Months Ended
	Mar. 31, 2023
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 2037. 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 ("COS") and selling, research & development and administrative expenses (“SG&A”). The components of lease expense for the three months ended March 31, 2023 and 2022 were as follows: Three Months Ended March 31, 2023 2022 Operating lease cost $ 5,414 $ 5,281 Finance lease cost: Amortization of right-of-use assets $ 911 $ 1,129 Interest on lease liabilities 299 325 Total finance lease cost $ 1,210 $ 1,454 Short-term lease and variable lease costs $ 4,912 $ 3,982 Supplemental cash flow information related to leases was as follows: Three Months Ended March 31, 2023 2022 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 5,395 $ 5,500 Operating cash flows from finance leases 301 335 Financing cash flows from finance leases 830 1,179 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 4,844 $ 6,406 Finance leases 200 599
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 2037. 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 ("COS") and selling, research & development and administrative expenses (“SG&A”). The components of lease expense for the three months ended March 31, 2023 and 2022 were as follows: Three Months Ended March 31, 2023 2022 Operating lease cost $ 5,414 $ 5,281 Finance lease cost: Amortization of right-of-use assets $ 911 $ 1,129 Interest on lease liabilities 299 325 Total finance lease cost $ 1,210 $ 1,454 Short-term lease and variable lease costs $ 4,912 $ 3,982 Supplemental cash flow information related to leases was as follows: Three Months Ended March 31, 2023 2022 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 5,395 $ 5,500 Operating cash flows from finance leases 301 335 Financing cash flows from finance leases 830 1,179 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 4,844 $ 6,406 Finance leases 200 599

RETIREMENT AND DEFERRED COMPENS

RETIREMENT AND DEFERRED COMPENSATION PLANS	3 Months Ended
	Mar. 31, 2023
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, 2023 2022 2023 2022 Service cost $ 2,409 $ 3,945 $ 1,470 $ 1,970 Interest cost 2,158 1,742 903 373 Expected return on plan assets (3,094) (3,227) (580) (727) Amortization of net loss — 1,667 228 444 Amortization of prior service cost — — 43 38 Net periodic benefit cost $ 1,473 $ 4,127 $ 2,064 $ 2,098 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. There were no contributions to our domestic defined benefit plans during the three months ended March 31, 2023 and we do not expect additional significant payments during 2023. We contributed $0.3 million to our foreign defined benefit plans during the three months ended March 31, 2023 and do not expect additional significant contributions during 2023.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME	3 Months Ended
	Mar. 31, 2023
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, 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) Balance - December 31, 2022 $ (328,740) $ (5,951) $ (6,675) $ (341,366) Other comprehensive (loss) income before reclassifications 25,007 61 (1,367) 23,701 Amounts reclassified from accumulated other comprehensive income — 192 — 192 Net current-period other comprehensive income (loss) 25,007 253 (1,367) 23,893 Balance - March 31, 2023 $ (303,733) $ (5,698) $ (8,042) $ (317,473) 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, 2023 2022 Defined Benefit Pension Plans Amortization of net loss $ 228 $ 2,111 (1) Amortization of prior service cost 43 38 (1) 271 2,149 Total before tax (79) (541) Tax impact $ 192 $ 1,608 Net of tax Derivatives Changes in cross currency swap: interest component $ — $ (20) Interest Expense Changes in cross currency swap: foreign exchange component — (1,584) Miscellaneous, net $ — $ (1,604) Net of tax Total reclassifications for the period $ 192 $ 4 ______________________________________________ (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, 2023
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. Net Investment Hedge 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. 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. On July 6, 2022, we entered into a seven year USD/EUR fixed-to-fixed cross currency interest rate swap to effectively hedge the interest rate exposure relating to $203 million of the $400 million 3.60% Senior Notes due March 2032, which were issued by AptarGroup, Inc. on March 7, 2022. This USD/EUR swap agreement exchanged $203 million of fixed-rate 3.60% U.S. dollar debt to €200 million of fixed-rate 2.5224% euro debt. We pay semi-annual fixed rate interest payments on the euro notional amount of €2.5 million and receive semi-annual fixed rate interest payments on the USD notional amount of $3.7 million. This swap has been designated as a net investment hedge to effectively hedge the foreign exchange risk associated with €200 million of our euro denominated net assets. We elected the spot method for recording the net investment hedge. Gains and losses resulting from the settlement of the excluded components are recorded in interest expense in the Condensed Consolidated Statements of Income. Gains and losses resulting from the fair value adjustments to the cross currency swap agreements are recorded in accumulated other comprehensive (loss) income as the swaps are effective in hedging the designated risk. As of March 31, 2023, the fair value of the cross currency swap was a $10.7 million liability. The swap agreement will mature on September 15, 2029. Other As of March 31, 2023, we have recorded the fair value of foreign currency forward exchange contracts of $0.8 million in Prepaid and other and $0.8 million in Accounts payable, accrued and other liabilities on the Condensed Consolidated Balance Sheets. All forward exchange contracts outstanding as of March 31, 2023 had an aggregate notional contract amount of $68.1 million. Fair Value of Derivative Instruments in the Condensed Consolidated Balance Sheets as of March 31, 2023 and December 31, 2022 March 31, 2023 December 31, 2022 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 $ — $ 773 $ — $ 1,107 $ — $ 773 $ — $ 1,107 Derivative Liabilities Foreign Exchange Contracts Accounts payable, accrued and other liabilities $ — $ 778 $ — $ 269 Cross Currency Swap Contract (1) Accounts payable, accrued and other liabilities 10,651 — 8,840 — $ 10,651 $ 778 $ 8,840 $ 269 __________________________ (1) This cross currency swap agreement is composed of both an interest component and a foreign exchange component. The Effect of Derivatives Designated as Hedging Instruments on Accumulated Other Comprehensive Income (Loss) for the Three Months Ended March 31, 2023 and 2022 Derivatives Designated as Hedging Instruments Amount of Gain Location of Gain Recognized Amount of Gain Total Amount of Affected Income Statement Line Item 2023 2022 2023 2022 Cross currency swap agreement: Interest component $ — $ (392) Interest expense $ — $ 20 $ (10,228) Foreign exchange component (1,367) 1,584 Miscellaneous, net — 1,584 (1,171) $ (1,367) $ 1,192 $ — $ 1,604 The Effect of Derivatives Not Designated as Hedging Instruments on the Condensed Consolidated Statements of Income for the Three Months Ended March 31, 2023 and 2022 Derivatives Not Designated Location of Loss Recognized Amount of Loss 2023 2022 Foreign Exchange Contracts Other (Expense) Income: $ (860) $ (2,100) $ (860) $ (2,100) 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, 2023 Derivative Assets $ 773 — $ 773 — — $ 773 Total Assets $ 773 — $ 773 — — $ 773 Derivative Liabilities $ 11,429 — $ 11,429 — — $ 11,429 Total Liabilities $ 11,429 — $ 11,429 — — $ 11,429 December 31, 2022 Derivative Assets $ 1,107 — $ 1,107 — — $ 1,107 Total Assets $ 1,107 — $ 1,107 — — $ 1,107 Derivative Liabilities $ 9,109 — $ 9,109 — — $ 9,109 Total Liabilities $ 9,109 — $ 9,109 — — $ 9,109

FAIR VALUE

FAIR VALUE	3 Months Ended
	Mar. 31, 2023
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, 2023, 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) $ 5,485 $ 5,485 $ — $ — Foreign exchange contracts (2) 773 — 773 — Convertible notes 5,650 — — 5,650 Total assets at fair value $ 11,908 $ 5,485 $ 773 $ 5,650 Liabilities Foreign exchange contracts (2) $ 778 $ — $ 778 $ — Cross currency swap contract (2) 10,651 — 10,651 — Contingent consideration obligation 25,310 — — 25,310 Total liabilities at fair value $ 36,739 $ — $ 11,429 $ 25,310 As of December 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) $ 5,297 $ 5,297 $ — $ — Foreign exchange contracts (2) 1,107 — 1,107 — Convertible note 5,650 — — 5,650 Total assets at fair value $ 12,054 $ 5,297 $ 1,107 $ 5,650 Liabilities Foreign exchange contracts (2) $ 269 $ — $ 269 $ — Cross currency swap contract (2) 8,840 — 8,840 — Contingent consideration obligation 25,310 — — 25,310 Total liabilities at fair value $ 34,419 $ — $ 9,109 $ 25,310 ________________________________________________ (1) Investment in PureCycle Technologies ("PCT" or "PureCycle"). See Note 18 – 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 instrument. We consider our long-term debt 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 $828.9 million as of March 31, 2023 and $868.7 million as of December 31, 2022. 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. During the second quarter of 2022, we invested $1.0 million in a convertible note in Siklus Refill Pte. Ltd. ("Siklus"). During the fourth quarter of 2022, Siklus repaid $0.4 million of its convertible note. 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, 2022, 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 a Level 3 liability and have estimated the aggregate fair value for these contingent consideration arrangements as follows: March 31, 2023 December 31, 2022 Fusion Acquisition $ 25,310 $ 25,310 Noble Acquisition — — $ 25,310 $ 25,310 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, 2022 $ 25,310 Decrease in fair value recorded in earnings — Payments — Balance, March 31, 2023 $ 25,310

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2023
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, results of operations or cash flows, claims and legal proceedings are subject to inherent uncertainties, and unfavorable outcomes could occur that 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, 2023 and December 31, 2022. A fire caused damage to our facility in Annecy, France in June 2016. We were insured for the damages caused by the fire, including business interruption insurance. During the second quarter of 2022, we filed a lawsuit against the insurance company to recover a part of our claim. No gain contingencies have been recognized as our ability to realize those gains remains uncertain. We are periodically subject to loss contingencies resulting from custom duties assessments. We accrue for anticipated costs when an assessment has indicated that a loss is probable and can be reasonably estimated. We have received claims worth approximately $13 million in principal and $5 million to $6 million for interest and penalties. We are currently defending our position with respect to these claims in the respected administrative procedures. Due to uncertainty in the amount of the assessment and the timing of our appeal, no liability is recorded as of March 31, 2023.

STOCK REPURCHASE PROGRAM

STOCK REPURCHASE PROGRAM	3 Months Ended
	Mar. 31, 2023
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, 2023 and 2022, we repurchased approximately 171 thousand shares for $19.7 million and 140 thousand shares for $16.0 million, respectively. As of March 31, 2023, there was $88.5 million of authorized share repurchases remaining under the existing authorization.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	3 Months Ended
	Mar. 31, 2023
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. For awards granted in the first quarter of 2023 and thereafter, our performance-based RSUs will vest solely based on our return on invested capital ("ROIC"). Award share payouts depend on the extent to which the ROIC performance goal has been achieved, but the final payout is adjusted by a total shareholder return ("TSR") modifier. 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, 2023 (1) 2022 Fair value per stock award $ 116.17 $ 141.95 Grant date stock price $ 111.38 $ 114.52 Assumptions: Aptar's stock price expected volatility 20.00 % 20.20 % Expected average volatility of peer companies 39.70 % 41.70 % Correlation assumption 33.30 % 41.20 % Risk-free interest rate 3.83 % 2.04 % Dividend yield assumption 1.36 % 1.33 % ________________________________________________ (1) The 2023 award inputs and assumptions are related to PSU-ROIC awards with a TSR modifier. A summary of RSU activity as of March 31, 2023 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 426,361 $ 111.60 610,871 $ 118.77 Granted 103,658 108.78 151,264 115.69 Vested (148,620) 103.67 (2,290) 113.02 Forfeited (2,059) 114.42 (3,584) 124.06 Nonvested at March 31, 2023 379,340 $ 113.97 756,261 $ 118.14 Three Months Ended March 31, 2023 2022 Compensation expense $ 12,071 $ 13,362 Fair value of units vested 14,587 12,361 Intrinsic value of units vested 17,046 15,291 The actual tax benefit realized for the tax deduction from RSUs was approximately $2.5 million in the three months ended March 31, 2023. As of March 31, 2023, there was $61.2 million of total unrecognized compensation cost relating to RSU awards which is expected to be recognized over a weighted-average period of 2.2 years. Historically we issued stock options to our employees and non-employee directors. We did not issue stock options between 2019 and 2022. Stock options were awarded in the first quarter of 2023 with the exercise price equal to the market price on the date of grant based on the Black-Scholes model and generally vest over three years and expire 10 years after grant. The Company uses historical data to estimate expected life and volatility. The weighted-average fair value of stock options granted under the stock awards plans were $19.84 and $24.23 per share for executive officers and all others employees, respectively, during the first three months of 2023. The executive awards were issued with a 10% premium. These values were estimated on the respective dates of grant using the Black-Scholes option-pricing model with the following weighted-average assumptions: Stock Award Plans: Three Months Ended March 31, 2023 Dividend Yield 1.41 % Expected Stock Price Volatility 16.55 % Risk-free Interest Rate 3.57 % Expected Life of Option (years) 7 A summary of option activity under our stock plans during the three months ended March 31, 2023 is presented below: Stock Awards Plans Director Stock Option Plans Options Weighted Average Options Weighted Average Outstanding, January 1, 2023 2,623,944 $ 73.34 51,700 $ 63.91 Granted 314,524 116.20 — — Exercised (208,987) 66.19 (3,500) 56.49 Forfeited or expired (2,867) 71.70 — — Outstanding at March 31, 2023 2,726,614 $ 78.83 48,200 $ 64.45 Exercisable at March 31, 2023 2,412,090 $ 73.96 48,200 $ 64.45 Weighted-Average Remaining Contractual Term (Years): Outstanding at March 31, 2023 4.0 0.9 Exercisable at March 31, 2023 3.2 0.9 Aggregate Intrinsic Value: Outstanding at March 31, 2023 $ 107,907 $ 2,590 Exercisable at March 31, 2023 $ 106,692 $ 2,590 Intrinsic Value of Options Exercised During the Three Months Ended: March 31, 2023 $ 10,118 $ 218 March 31, 2022 $ 3,780 $ — Three Months Ended March 31, 2023 Compensation expense (included in SG&A) $ 2,734 Compensation expense (included in Cost of sales) 237 Compensation expense, Total $ 2,971 Compensation expense, net of tax 2,971 The increase in stock option expense is due to the newly issued options as discussed above. Cash received from option exercises for the three months ended March 31, 2023 and 2022 was approximately $13.8 million and $3.7 million, respectively. The actual tax benefit realized for the tax deduction from option exercises was approximately $2.5 million and $0.3 million in the three months ended March 31, 2023 and 2022, respectively. As of March 31, 2023, there was $4.1 million of total unrecognized compensation cost relating to stock option awards to be expensed in future periods.

EARNINGS PER SHARE

EARNINGS PER SHARE	3 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE Basic 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, 2023 and 2022 is as follows: Three Months Ended March 31, 2023 March 31, 2022 Diluted Basic Diluted Basic Consolidated operations Income available to common stockholders $ 54,764 $ 54,764 $ 62,423 $ 62,423 Average equivalent shares Shares of common stock 65,372 65,372 65,543 65,543 Effect of dilutive stock-based compensation Stock options 906 — 1,193 — Restricted stock 457 — 410 — Total average equivalent shares 66,735 65,372 67,146 65,543 Net income per share $ 0.82 $ 0.84 $ 0.93 $ 0.95

SEGMENT INFORMATION

SEGMENT INFORMATION	3 Months Ended
	Mar. 31, 2023
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION During the year ended December 31, 2022, our organizational structure consisted of three market-focused business segments: Pharma, Beauty+Home and Food+Beverage. Effective January 1, 2023, we realigned two of our segments, allowing us to better serve our customers and positioning us for long-term profitable growth. We continue to have three reporting segments; Aptar Pharma and Aptar Beauty are named for the markets they serve with multiple product platforms, while Aptar Closures is named primarily for a single product platform that serves all available markets. We combined all of our closures operations into a single segment - Aptar Closures. The Aptar Closures business serves multiple markets, including food, beverage, personal care, home care, beauty and healthcare. Closures that were developed in Beauty + Home moved to Aptar Closures together with the operations of legacy Food + Beverage. Aptar's food protection business and our elastomeric flow-control technology business continue to report through the Aptar Closures segment. At the same time, we are simplifying and focusing our Beauty + Home segment to better leverage our complex spray and dispensing solutions for prestige and premium brands in the beauty and personal care markets. For many of our customers, personal care products are considered part of "beauty" and so we renamed this segment, simply, Aptar Beauty. The segment realignment had no impact on our consolidated statements of income, balance sheets, and cash flows. Segment financial information for the prior periods has been recast to conform to the current presentation. 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, 2022. 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, 2023 2022 Total Sales: Aptar Pharma $ 356,111 $ 346,672 Aptar Beauty 333,338 315,368 Aptar Closures 180,439 196,068 Total Sales $ 869,888 $ 858,108 Less: Intersegment Sales: Aptar Pharma $ 65 $ 4,210 Aptar Beauty 6,949 6,288 Aptar Closures 2,807 2,678 Total Intersegment Sales $ 9,821 $ 13,176 Net Sales: Aptar Pharma $ 356,046 $ 342,462 Aptar Beauty 326,389 309,080 Aptar Closures 177,632 193,390 Net Sales $ 860,067 $ 844,932 Adjusted EBITDA (1): Aptar Pharma $ 109,298 $ 115,552 Aptar Beauty 37,205 34,550 Aptar Closures 26,008 24,183 Corporate & Other, unallocated (18,836) (17,970) Acquisition-related costs (2) (255) — Restructuring Initiatives (3) (11,524) (291) Net unrealized investment gain (loss) (4) 188 (2,091) Depreciation and amortization (59,259) (58,665) Interest Expense (10,228) (8,930) Interest Income 672 288 Income before Income Taxes $ 73,269 $ 86,626 ________________________________________________ (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) Acquisition-related costs include transaction costs (and purchase accounting adjustments related to acquisitions and investments) (see Note 17 – Acquisitions for further details). (3) Restructuring Initiatives includes expense items for the three months ended March 31, 2023 and 2022 as follows (see Note 19 – Restructuring Initiatives for further details): Three Months Ended March 31, 2023 2022 Restructuring Initiatives by Plan: Optimization initiative $ 11,540 $ — Prior year initiatives (16) 291 Total Restructuring Initiatives $ 11,524 $ 291 Restructuring Initiatives by Segment: Aptar Pharma $ 1,131 $ — Aptar Beauty 9,291 111 Aptar Closures 522 180 Corporate & Other 580 — Total Restructuring Initiatives $ 11,524 $ 291 (4) Net unrealized investment gain (loss) represents the change in fair value of our investment in PCT (see Note 18 – Investment in Equity Securities for further details).

ACQUISITIONS

ACQUISITIONS	3 Months Ended
	Mar. 31, 2023
Business Combination and Asset Acquisition [Abstract]
ACQUISITIONS	ACQUISITIONS Business Combinations On March 1, 2023, we completed the acquisition of all the outstanding capital stock of iD SCENT. Located in Lyon, France, iD SCENT is an expert producer of paper fragrance sampling solutions that present multiple sustainability features. The purchase price was approximately $9.1 million (net of $1.4 million cash acquired) and was funded with cash on hand. The results of iD SCENT have been included in the consolidated financial statements within our Aptar Beauty segment since the date of acquisition. We are in the process of finalizing the purchase accounting. Also on March 1, 2023, we completed the acquisition of 80% of the equity interest of Gulf Closures W.L.L. ( "Gulf Closures"). Gulf Closures, located in Bahrain, is a closure manufacturer for beverage products. The purchase price for 80% ownership was approximately $2.1 million (net of $1.2 million cash acquired) and was funded with cash on hand. This values the full company equity at approximately $3.3 million and implies a non-controlling interest valued at approximately $0.7 million as of the acquisition date. The results of Gulf Closures have been included in the consolidated financial statements within our Aptar Closures segment since the date of acquisition. We are in the process of finalizing the purchase accounting. On August 31, 2022, we completed the acquisition of all the outstanding capital stock of Metaphase Design Group Inc. ("Metaphase"). Metaphase, located in St. Louis, Missouri, is a leading expert in ergonomic and industrial design of handheld devices including medical devices. The purchase price was approximately $5.1 million (net of $0.1 million cash acquired) and was funded with cash on hand. As of the acquisition date, $1.0 million was held in restricted cash for an indemnity escrow. The results of Metaphase have been included in the consolidated financial statements within our Aptar Pharma segment since the date of acquisition.

INVESTMENT IN EQUITY SECURITIES

INVESTMENT IN EQUITY SECURITIES	3 Months Ended
	Mar. 31, 2023
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 $ 31,611 $ 31,490 Sonmol 4,905 4,997 Desotec GmbH 879 863 Other Investments: PureCycle 5,485 5,297 YAT 5,532 5,508 Loop 2,894 2,894 Others 1,275 1,259 $ 52,581 $ 52,308 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 $32.0 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 $5.0 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”). Sonmol is a leading Chinese pharmaceutical company that provides consumer electric devices and connected devices for asthma control. 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 closures markets. Other Investments In prior years, we have invested, through a series of transactions, an aggregate amount of $2.9 million in preferred equity investments in Loop, a sustainability company. In prior years, we have also invested, through a series of transactions, $3.0 million in PureCycle and received $0.7 million of equity 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. We have sold the following PCT shares related to the PureCycle investment: Shares Sold Proceeds Realized Gain March 2022 107,600 $ 1,088 $ 841 August 2022 50,000 $ 511 $ 372 For the three months ended March 31, 2023 and 2022, we recorded the following net investment gain/(loss) on our investment in PureCycle: Three Months Ended March 31, 2023 2022 Net investment gain (loss) $ 188 $ (1,250) 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 $1.4 million credit loss reserve against the outstanding note receivable from one of our venture investments, Kali Care, there were no indications of impairment noted in the three months ended March 31, 2023 related to these investments.

RESTRUCTURING INITIATIVES

RESTRUCTURING INITIATIVES	3 Months Ended
	Mar. 31, 2023
Restructuring and Related Activities [Abstract]
RESTRUCTURING INITIATIVES	RESTRUCTURING INITIATIVES During the third quarter of 2022, we began an initiative to better leverage our fixed cost base through growth and cost reduction measures. For the three months ended March 31, 2023, we recognized $11.5 million of restructuring costs related to this initiative. The cumulative expense incurred as of March 31, 2023 was $17.8 million. As of March 31, 2023, we have recorded the following activity associated with our optimization initiative: Beginning Reserve at 12/31/2022 Net Charges for the Three Months Ended 3/31/2023 Cash Paid Interest and Ending Reserve at 3/31/2023 Employee severance $ 4,993 $ 10,295 $ (2,179) $ 27 $ 13,136 Professional fees and other costs — 1,245 (787) 5 463 Totals $ 4,993 $ 11,540 $ (2,966) $ 32 $ 13,599

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2023
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. Certain previously reported amounts have been reclassified to conform to the current period presentation. 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, 2022 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, 2022. The results of operations of any interim period are not necessarily indicative of the results that may be expected for the year.
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 September 2022, the FASB issued ASU 2022-04, Liabilities-Supplier Finance Programs (Topic 405), which enhances the transparency of supplier finance programs and requires certain disclosures for a buyer in a supplier finance program. The requirements are effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, except for the amendment on roll forward information, which is effective for fiscal years beginning after December 13, 2023. Early adoption is permitted. We adopted this guidance in the fourth quarter of 2022. 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 could 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 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. We plan on adopting this guidance during the second quarter of 2023. 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 the income is earned. The income tax rates imposed by these taxing authorities may vary substantially. Taxable income may differ from pre-tax income for U.S. GAAP 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 U.S. GAAP 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 with the following exceptions: all earnings in Germany and the pre-2020 earnings in Italy, Switzerland and Columbia. Under current U.S. tax laws, all of our non-U.S. earnings are subject to U.S. taxation on a current or deferred basis. We will provide for the necessary withholding tax, local income taxes, and U.S. federal and state 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 taxation and file income tax returns in the U.S. federal jurisdiction and many state and foreign jurisdictions. We believe that an adequate provision has been made for any adjustments that may result from tax examinations. 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.
SUPPLY CHAIN FINANCE PROGRAM	SUPPLY CHAIN FINANCE PROGRAM We facilitate a supply chain finance program ("SCF") across Europe and the U.S. that is administered by a third-party platform. Eligible suppliers can elect to receive early payment of invoices, less an interest deduction, and negotiate their receivable sales arrangements through the third-party platform on behalf of the respective SCF bank. We are not a party to those agreements, and the terms of our payment obligations are not impacted by a supplier's participation in the SCF. Accordingly, we have concluded that this program continues to be a trade payable program and is not indicative of a borrowing arrangement. Under these agreements, the average payment terms range from 60 to 120 days and are based on industry standards and best practices within each of our regions. All outstanding amounts related to suppliers participating in the SCF are recorded within Accounts payable, accrued and other liabilities in our Condensed Consolidated Balance Sheets, and associated payments are included in operating activities within our Condensed Consolidated Statements of Cash Flows. As of March 31, 2023, the amounts due to suppliers participating in the SCF and included in Accounts payable, accrued and other liabilities were approximately $38.5 million. We have lengthened the payment terms with our suppliers to be in line with customer trends. While we have offered a third party alternative for our suppliers to receive payments sooner, we generally do not utilize these offerings from our customers as the economic conditions currently are not beneficial for us.

REVENUE (Tables)

REVENUE (Tables)	3 Months Ended
	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
Schedule of revenue by segment by geographic area	Revenue by segment and geography based on shipped from locations for the three months ended March 31, 2023 and 2022 is as follows: For the Three Months Ended March 31, 2023 Segment Europe Domestic Latin Asia Total Aptar Pharma $ 227,116 $ 102,274 $ 7,223 $ 19,433 $ 356,046 Aptar Beauty 212,010 59,288 35,252 19,839 326,389 Aptar Closures 57,340 86,916 20,141 13,235 177,632 Total $ 496,466 $ 248,478 $ 62,616 $ 52,507 $ 860,067 For the Three Months Ended March 31, 2022 Segment Europe Domestic Latin Asia Total Aptar Pharma $ 211,007 $ 106,341 $ 7,855 $ 17,259 $ 342,462 Aptar Beauty 187,759 69,380 29,690 22,251 309,080 Aptar Closures 56,365 104,284 20,199 12,542 193,390 Total $ 455,131 $ 280,005 $ 57,744 $ 52,052 $ 844,932
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, 2022 Balance as of March 31, 2023 Increase/ Contract asset (current) $ 16,736 $ 20,390 $ 3,654 Contract liability (current) 80,241 96,839 16,598 Contract liability (long-term) 25,361 31,692 6,331

INVENTORIES (Tables)

INVENTORIES (Tables)	3 Months Ended
	Mar. 31, 2023
Inventory Disclosure [Abstract]
Schedule of inventories, by component	Inventories, by component net of reserves, consisted of: March 31, December 31, Raw materials $ 155,564 $ 159,041 Work in process 176,306 153,592 Finished goods 180,817 174,173 Total $ 512,687 $ 486,806

GOODWILL AND OTHER INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)	3 Months Ended
	Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of changes in the carrying amount of goodwill	The changes in the carrying amount of goodwill for the three months ended March 31, 2023 by reporting segment are as follows: Aptar Aptar Aptar Closures Total Balance as of December 31, 2022 $ 498,742 $ 319,011 $ 127,879 $ 945,632 Reclassification due to segment change — (39,472) 39,472 — Acquisition — 3,549 239 3,788 Foreign currency exchange effects 4,663 1,330 189 6,182 Balance as of March 31, 2023 $ 503,405 $ 284,418 $ 167,779 $ 955,602
Summary of amortized intangible assets	The table below shows a summary of intangible assets as of March 31, 2023 and December 31, 2022. March 31, 2023 December 31, 2022 Weighted Average Amortization Period (Years) Gross Accumulated Net Gross Accumulated Net Amortized intangible assets: Patents 8.8 $ 8,133 $ (2,141) $ 5,992 $ 8,044 $ (1,968) $ 6,076 Acquired technology 11.4 139,729 (60,291) 79,438 135,191 (56,628) 78,563 Customer relationships 13.4 307,992 (105,722) 202,270 305,994 (99,130) 206,864 Trademarks and trade names 7.2 44,657 (29,877) 14,780 43,998 (28,190) 15,808 License agreements and other 38.9 15,540 (7,212) 8,328 15,425 (6,992) 8,433 Total intangible assets 13.2 $ 516,051 $ (205,243) $ 310,808 $ 508,652 $ (192,908) $ 315,744
Schedule of future estimated amortization expense	Future estimated amortization expense for the years ending December 31 is as follows: 2023 $ 33,697 (remaining estimated amortization for 2023) 2024 41,457 2025 39,971 2026 37,519 2027 24,778 Thereafter 133,386

DEBT (Tables)

DEBT (Tables)	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
Schedule of short-term debt	At March 31, 2023 and December 31, 2022, our notes payable, revolving credit facility and overdrafts consisted of the following: March 31, December 31, Overdrafts 1.46% to 15.40% 12,733 3,810 $ 12,733 $ 3,810
Schedule of long-term obligations	At March 31, 2023 and December 31, 2022, our long-term obligations consisted of the following: March 31, 2023 December 31, 2022 Notes payable 0.00% – 16.42%, due in monthly and annual installments through 2028 $ 28,093 $ 29,167 Senior unsecured notes 1.0%, due in 2023 108,455 106,995 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 216,910 213,990 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 $0.9 million 399,076 399,050 Finance Lease Liabilities 26,486 26,934 Unamortized debt issuance costs (4,371) (4,558) $ 1,174,649 $ 1,171,578 Current maturities of long-term obligations (218,731) (118,981) Total long-term obligations $ 955,918 $ 1,052,597
Schedule of maturities of long-term debt	The aggregate long-term maturities, excluding finance lease liabilities and unamortized debt issuance costs, which are discussed in Note 7, due annually from the current balance sheet date for the next five years and thereafter are: Year One $ 215,607 Year Two 276,944 Year Three 258,681 Year Four 2,030 Year Five 74 Thereafter 399,198
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, 2023 Consolidated Leverage Ratio (1) Maximum of 3.50 to 1.00 1.80 to 1.00 Consolidated Interest Coverage Ratio (1) Minimum of 3.00 to 1.00 14.19 to 1.00 ________________________________________

LEASES (Tables)

LEASES (Tables)	3 Months Ended
	Mar. 31, 2023
Leases [Abstract]
Schedule of components of lease expense	The components of lease expense for the three months ended March 31, 2023 and 2022 were as follows: Three Months Ended March 31, 2023 2022 Operating lease cost $ 5,414 $ 5,281 Finance lease cost: Amortization of right-of-use assets $ 911 $ 1,129 Interest on lease liabilities 299 325 Total finance lease cost $ 1,210 $ 1,454 Short-term lease and variable lease costs $ 4,912 $ 3,982
Schedule of supplemental cash flow information related to leases	Supplemental cash flow information related to leases was as follows: Three Months Ended March 31, 2023 2022 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 5,395 $ 5,500 Operating cash flows from finance leases 301 335 Financing cash flows from finance leases 830 1,179 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 4,844 $ 6,406 Finance leases 200 599

RETIREMENT AND DEFERRED COMPE_2

RETIREMENT AND DEFERRED COMPENSATION PLANS (Tables)	3 Months Ended
	Mar. 31, 2023
Retirement Benefits [Abstract]
Components of net periodic benefit cost	Components of Net Periodic Benefit Cost: Domestic Plans Foreign Plans Three Months Ended March 31, 2023 2022 2023 2022 Service cost $ 2,409 $ 3,945 $ 1,470 $ 1,970 Interest cost 2,158 1,742 903 373 Expected return on plan assets (3,094) (3,227) (580) (727) Amortization of net loss — 1,667 228 444 Amortization of prior service cost — — 43 38 Net periodic benefit cost $ 1,473 $ 4,127 $ 2,064 $ 2,098

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE INCOME (Tables)	3 Months Ended
	Mar. 31, 2023
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Changes in Accumulated Other Comprehensive (Loss) Income by Component	Changes in Accumulated Other Comprehensive (Loss) Income by Component: Foreign Currency Defined Benefit Pension Plans Derivatives Total 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) Balance - December 31, 2022 $ (328,740) $ (5,951) $ (6,675) $ (341,366) Other comprehensive (loss) income before reclassifications 25,007 61 (1,367) 23,701 Amounts reclassified from accumulated other comprehensive income — 192 — 192 Net current-period other comprehensive income (loss) 25,007 253 (1,367) 23,893 Balance - March 31, 2023 $ (303,733) $ (5,698) $ (8,042) $ (317,473)
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, 2023 2022 Defined Benefit Pension Plans Amortization of net loss $ 228 $ 2,111 (1) Amortization of prior service cost 43 38 (1) 271 2,149 Total before tax (79) (541) Tax impact $ 192 $ 1,608 Net of tax Derivatives Changes in cross currency swap: interest component $ — $ (20) Interest Expense Changes in cross currency swap: foreign exchange component — (1,584) Miscellaneous, net $ — $ (1,604) Net of tax Total reclassifications for the period $ 192 $ 4 ______________________________________________ (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, 2023
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, 2023 and December 31, 2022 March 31, 2023 December 31, 2022 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 $ — $ 773 $ — $ 1,107 $ — $ 773 $ — $ 1,107 Derivative Liabilities Foreign Exchange Contracts Accounts payable, accrued and other liabilities $ — $ 778 $ — $ 269 Cross Currency Swap Contract (1) Accounts payable, accrued and other liabilities 10,651 — 8,840 — $ 10,651 $ 778 $ 8,840 $ 269 __________________________ (1) This cross currency swap agreement 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 Derivatives Designated as Hedging Instruments on Accumulated Other Comprehensive Income (Loss) for the Three Months Ended March 31, 2023 and 2022 Derivatives Designated as Hedging Instruments Amount of Gain Location of Gain Recognized Amount of Gain Total Amount of Affected Income Statement Line Item 2023 2022 2023 2022 Cross currency swap agreement: Interest component $ — $ (392) Interest expense $ — $ 20 $ (10,228) Foreign exchange component (1,367) 1,584 Miscellaneous, net — 1,584 (1,171) $ (1,367) $ 1,192 $ — $ 1,604
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, 2023 and 2022 Derivatives Not Designated Location of Loss Recognized Amount of Loss 2023 2022 Foreign Exchange Contracts Other (Expense) Income: $ (860) $ (2,100) $ (860) $ (2,100)
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, 2023 Derivative Assets $ 773 — $ 773 — — $ 773 Total Assets $ 773 — $ 773 — — $ 773 Derivative Liabilities $ 11,429 — $ 11,429 — — $ 11,429 Total Liabilities $ 11,429 — $ 11,429 — — $ 11,429 December 31, 2022 Derivative Assets $ 1,107 — $ 1,107 — — $ 1,107 Total Assets $ 1,107 — $ 1,107 — — $ 1,107 Derivative Liabilities $ 9,109 — $ 9,109 — — $ 9,109 Total Liabilities $ 9,109 — $ 9,109 — — $ 9,109

FAIR VALUE (Tables)

FAIR VALUE (Tables)	3 Months Ended
	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Schedule of fair values of financial assets and liabilities	As of March 31, 2023, 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) $ 5,485 $ 5,485 $ — $ — Foreign exchange contracts (2) 773 — 773 — Convertible notes 5,650 — — 5,650 Total assets at fair value $ 11,908 $ 5,485 $ 773 $ 5,650 Liabilities Foreign exchange contracts (2) $ 778 $ — $ 778 $ — Cross currency swap contract (2) 10,651 — 10,651 — Contingent consideration obligation 25,310 — — 25,310 Total liabilities at fair value $ 36,739 $ — $ 11,429 $ 25,310 As of December 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) $ 5,297 $ 5,297 $ — $ — Foreign exchange contracts (2) 1,107 — 1,107 — Convertible note 5,650 — — 5,650 Total assets at fair value $ 12,054 $ 5,297 $ 1,107 $ 5,650 Liabilities Foreign exchange contracts (2) $ 269 $ — $ 269 $ — Cross currency swap contract (2) 8,840 — 8,840 — Contingent consideration obligation 25,310 — — 25,310 Total liabilities at fair value $ 34,419 $ — $ 9,109 $ 25,310 ________________________________________________ (1) Investment in PureCycle Technologies ("PCT" or "PureCycle"). See Note 18 – 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 a Level 3 liability and have estimated the aggregate fair value for these contingent consideration arrangements as follows: March 31, 2023 December 31, 2022 Fusion Acquisition $ 25,310 $ 25,310 Noble Acquisition — — $ 25,310 $ 25,310
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, 2022 $ 25,310 Decrease in fair value recorded in earnings — Payments — Balance, March 31, 2023 $ 25,310

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	3 Months Ended
	Mar. 31, 2023
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, 2023 (1) 2022 Fair value per stock award $ 116.17 $ 141.95 Grant date stock price $ 111.38 $ 114.52 Assumptions: Aptar's stock price expected volatility 20.00 % 20.20 % Expected average volatility of peer companies 39.70 % 41.70 % Correlation assumption 33.30 % 41.20 % Risk-free interest rate 3.83 % 2.04 % Dividend yield assumption 1.36 % 1.33 % ________________________________________________ (1) The 2023 award inputs and assumptions are related to PSU-ROIC awards with a TSR modifier.
Summary of restricted stock unit activity	A summary of RSU activity as of March 31, 2023 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 426,361 $ 111.60 610,871 $ 118.77 Granted 103,658 108.78 151,264 115.69 Vested (148,620) 103.67 (2,290) 113.02 Forfeited (2,059) 114.42 (3,584) 124.06 Nonvested at March 31, 2023 379,340 $ 113.97 756,261 $ 118.14
Schedule of compensation expense, fair value, and intrinsic value related to RSU's	Three Months Ended March 31, 2023 2022 Compensation expense $ 12,071 $ 13,362 Fair value of units vested 14,587 12,361 Intrinsic value of units vested 17,046 15,291
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions	These values were estimated on the respective dates of grant using the Black-Scholes option-pricing model with the following weighted-average assumptions: Stock Award Plans: Three Months Ended March 31, 2023 Dividend Yield 1.41 % Expected Stock Price Volatility 16.55 % Risk-free Interest Rate 3.57 % Expected Life of Option (years) 7
Summary of option activity	A summary of option activity under our stock plans during the three months ended March 31, 2023 is presented below: Stock Awards Plans Director Stock Option Plans Options Weighted Average Options Weighted Average Outstanding, January 1, 2023 2,623,944 $ 73.34 51,700 $ 63.91 Granted 314,524 116.20 — — Exercised (208,987) 66.19 (3,500) 56.49 Forfeited or expired (2,867) 71.70 — — Outstanding at March 31, 2023 2,726,614 $ 78.83 48,200 $ 64.45 Exercisable at March 31, 2023 2,412,090 $ 73.96 48,200 $ 64.45 Weighted-Average Remaining Contractual Term (Years): Outstanding at March 31, 2023 4.0 0.9 Exercisable at March 31, 2023 3.2 0.9 Aggregate Intrinsic Value: Outstanding at March 31, 2023 $ 107,907 $ 2,590 Exercisable at March 31, 2023 $ 106,692 $ 2,590 Intrinsic Value of Options Exercised During the Three Months Ended: March 31, 2023 $ 10,118 $ 218 March 31, 2022 $ 3,780 $ —
Schedule of compensation expense, and fair value related to options	Three Months Ended March 31, 2023 Compensation expense (included in SG&A) $ 2,734 Compensation expense (included in Cost of sales) 237 Compensation expense, Total $ 2,971 Compensation expense, net of tax 2,971

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	3 Months Ended
	Mar. 31, 2023
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, 2023 and 2022 is as follows: Three Months Ended March 31, 2023 March 31, 2022 Diluted Basic Diluted Basic Consolidated operations Income available to common stockholders $ 54,764 $ 54,764 $ 62,423 $ 62,423 Average equivalent shares Shares of common stock 65,372 65,372 65,543 65,543 Effect of dilutive stock-based compensation Stock options 906 — 1,193 — Restricted stock 457 — 410 — Total average equivalent shares 66,735 65,372 67,146 65,543 Net income per share $ 0.82 $ 0.84 $ 0.93 $ 0.95

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	3 Months Ended
	Mar. 31, 2023
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, 2023 2022 Total Sales: Aptar Pharma $ 356,111 $ 346,672 Aptar Beauty 333,338 315,368 Aptar Closures 180,439 196,068 Total Sales $ 869,888 $ 858,108 Less: Intersegment Sales: Aptar Pharma $ 65 $ 4,210 Aptar Beauty 6,949 6,288 Aptar Closures 2,807 2,678 Total Intersegment Sales $ 9,821 $ 13,176 Net Sales: Aptar Pharma $ 356,046 $ 342,462 Aptar Beauty 326,389 309,080 Aptar Closures 177,632 193,390 Net Sales $ 860,067 $ 844,932 Adjusted EBITDA (1): Aptar Pharma $ 109,298 $ 115,552 Aptar Beauty 37,205 34,550 Aptar Closures 26,008 24,183 Corporate & Other, unallocated (18,836) (17,970) Acquisition-related costs (2) (255) — Restructuring Initiatives (3) (11,524) (291) Net unrealized investment gain (loss) (4) 188 (2,091) Depreciation and amortization (59,259) (58,665) Interest Expense (10,228) (8,930) Interest Income 672 288 Income before Income Taxes $ 73,269 $ 86,626 ________________________________________________ (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) Acquisition-related costs include transaction costs (and purchase accounting adjustments related to acquisitions and investments) (see Note 17 – Acquisitions for further details). (3) Restructuring Initiatives includes expense items for the three months ended March 31, 2023 and 2022 as follows (see Note 19 – Restructuring Initiatives for further details): Three Months Ended March 31, 2023 2022 Restructuring Initiatives by Plan: Optimization initiative $ 11,540 $ — Prior year initiatives (16) 291 Total Restructuring Initiatives $ 11,524 $ 291 Restructuring Initiatives by Segment: Aptar Pharma $ 1,131 $ — Aptar Beauty 9,291 111 Aptar Closures 522 180 Corporate & Other 580 — Total Restructuring Initiatives $ 11,524 $ 291 (4) Net unrealized investment gain (loss) represents the change in fair value of our investment in PCT (see Note 18 – Investment in Equity Securities for further details).
Restructuring Initiatives	Restructuring Initiatives includes expense items for the three months ended March 31, 2023 and 2022 as follows (see Note 19 – Restructuring Initiatives for further details): Three Months Ended March 31, 2023 2022 Restructuring Initiatives by Plan: Optimization initiative $ 11,540 $ — Prior year initiatives (16) 291 Total Restructuring Initiatives $ 11,524 $ 291 Restructuring Initiatives by Segment: Aptar Pharma $ 1,131 $ — Aptar Beauty 9,291 111 Aptar Closures 522 180 Corporate & Other 580 — Total Restructuring Initiatives $ 11,524 $ 291

INVESTMENT IN EQUITY SECURITI_2

INVESTMENT IN EQUITY SECURITIES (Tables)	3 Months Ended
	Mar. 31, 2023
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 $ 31,611 $ 31,490 Sonmol 4,905 4,997 Desotec GmbH 879 863 Other Investments: PureCycle 5,485 5,297 YAT 5,532 5,508 Loop 2,894 2,894 Others 1,275 1,259 $ 52,581 $ 52,308
Schedule of Investment Company, Financial Highlights	We have sold the following PCT shares related to the PureCycle investment: Shares Sold Proceeds Realized Gain March 2022 107,600 $ 1,088 $ 841 August 2022 50,000 $ 511 $ 372
Schedule of Other Nonoperating Income (Expense)	For the three months ended March 31, 2023 and 2022, we recorded the following net investment gain/(loss) on our investment in PureCycle: Three Months Ended March 31, 2023 2022 Net investment gain (loss) $ 188 $ (1,250)

RESTRUCTURING INITIATIVES (Tabl

RESTRUCTURING INITIATIVES (Tables)	3 Months Ended
	Mar. 31, 2023
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Reserve by Type of Cost	As of March 31, 2023, we have recorded the following activity associated with our optimization initiative: Beginning Reserve at 12/31/2022 Net Charges for the Three Months Ended 3/31/2023 Cash Paid Interest and Ending Reserve at 3/31/2023 Employee severance $ 4,993 $ 10,295 $ (2,179) $ 27 $ 13,136 Professional fees and other costs — 1,245 (787) 5 463 Totals $ 4,993 $ 11,540 $ (2,966) $ 32 $ 13,599

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Additional Information (Details) $ in Millions	3 Months Ended
	Mar. 31, 2023 USD ($)
Product Information [Line Items]
Supplier finance program obligation, current	$ 38.5
Maximum
Product Information [Line Items]
Supplier finance program payment terms	120 days
Minimum
Product Information [Line Items]
Supplier finance program payment terms	60 days

REVENUE - Revenue by Geographic

REVENUE - Revenue by Geographic Segment (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
REVENUE
Net revenue	$ 860,067	$ 844,932
Aptar Pharma
REVENUE
Net revenue	356,046	342,462
Aptar Beauty
REVENUE
Net revenue	326,389	309,080
Aptar Closures
REVENUE
Net revenue	177,632	193,390
Europe
REVENUE
Net revenue	496,466	455,131
Europe | Aptar Pharma
REVENUE
Net revenue	227,116	211,007
Europe | Aptar Beauty
REVENUE
Net revenue	212,010	187,759
Europe | Aptar Closures
REVENUE
Net revenue	57,340	56,365
Domestic
REVENUE
Net revenue	248,478	280,005
Domestic | Aptar Pharma
REVENUE
Net revenue	102,274	106,341
Domestic | Aptar Beauty
REVENUE
Net revenue	59,288	69,380
Domestic | Aptar Closures
REVENUE
Net revenue	86,916	104,284
Latin America
REVENUE
Net revenue	62,616	57,744
Latin America | Aptar Pharma
REVENUE
Net revenue	7,223	7,855
Latin America | Aptar Beauty
REVENUE
Net revenue	35,252	29,690
Latin America | Aptar Closures
REVENUE
Net revenue	20,141	20,199
Asia
REVENUE
Net revenue	52,507	52,052
Asia | Aptar Pharma
REVENUE
Net revenue	19,433	17,259
Asia | Aptar Beauty
REVENUE
Net revenue	19,839	22,251
Asia | Aptar Closures
REVENUE
Net revenue	$ 13,235	$ 12,542

REVENUE - Contract Assets and C

REVENUE - Contract Assets and Contract Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Contract asset (current)	$ 20,390	$ 16,736
Increase / (decrease) in contract asset (current)	3,654
Contract liability (current)	96,839	80,241
Increase / (decrease) in contract liability (current)	16,598
Contract liability (long-term)	31,692	$ 25,361
Increase / (decrease) in contract liability (long-term)	6,331
Revenue recognized previously included in current contract liabilities	29,300
Revenue recognized previously included in current contract liabilities at the beginning of the year	$ 21,200

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Inventories, by component
Raw materials	$ 155,564	$ 159,041
Work in process	176,306	153,592
Finished goods	180,817	174,173
Total	$ 512,687	$ 486,806

GOODWILL AND OTHER INTANGIBLE_3

GOODWILL AND OTHER INTANGIBLE ASSETS - Schedule of Goodwill (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($)
Changes in the carrying amount of goodwill
Goodwill, beginning balance	$ 945,632
Reclassification due to segment change	0
Acquisition	3,788
Foreign currency exchange effects	6,182
Goodwill, ending balance	955,602
Operating segment | Aptar Pharma
Changes in the carrying amount of goodwill
Goodwill, beginning balance	498,742
Reclassification due to segment change	0
Acquisition	0
Foreign currency exchange effects	4,663
Goodwill, ending balance	503,405
Operating segment | Aptar Beauty
Changes in the carrying amount of goodwill
Goodwill, beginning balance	319,011
Reclassification due to segment change	(39,472)
Acquisition	3,549
Foreign currency exchange effects	1,330
Goodwill, ending balance	284,418
Operating segment | Aptar Closures
Changes in the carrying amount of goodwill
Goodwill, beginning balance	127,879
Reclassification due to segment change	39,472
Acquisition	239
Foreign currency exchange effects	189
Goodwill, ending balance	$ 167,779

GOODWILL AND OTHER INTANGIBLE_4

GOODWILL AND OTHER INTANGIBLE ASSETS - Summary of Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Amortized intangible assets
Gross Carrying Amount	$ 516,051		$ 508,652
Accumulated Amortization	(205,243)		(192,908)
Net Value	310,808		315,744
Aggregate amortization expense	$ 10,963	$ 11,027
Weighted Average
Amortized intangible assets
Weighted Average Amortization Period (Years)	13 years 2 months 12 days
Patents
Amortized intangible assets
Gross Carrying Amount	$ 8,133		8,044
Accumulated Amortization	(2,141)		(1,968)
Net Value	$ 5,992		6,076
Patents | Weighted Average
Amortized intangible assets
Weighted Average Amortization Period (Years)	8 years 9 months 18 days
Acquired technology
Amortized intangible assets
Gross Carrying Amount	$ 139,729		135,191
Accumulated Amortization	(60,291)		(56,628)
Net Value	$ 79,438		78,563
Acquired technology | Weighted Average
Amortized intangible assets
Weighted Average Amortization Period (Years)	11 years 4 months 24 days
Customer relationships
Amortized intangible assets
Gross Carrying Amount	$ 307,992		305,994
Accumulated Amortization	(105,722)		(99,130)
Net Value	$ 202,270		206,864
Customer relationships | Weighted Average
Amortized intangible assets
Weighted Average Amortization Period (Years)	13 years 4 months 24 days
Trademarks and trade names
Amortized intangible assets
Gross Carrying Amount	$ 44,657		43,998
Accumulated Amortization	(29,877)		(28,190)
Net Value	$ 14,780		15,808
Trademarks and trade names | Weighted Average
Amortized intangible assets
Weighted Average Amortization Period (Years)	7 years 2 months 12 days
License agreements and other
Amortized intangible assets
Gross Carrying Amount	$ 15,540		15,425
Accumulated Amortization	(7,212)		(6,992)
Net Value	$ 8,328		$ 8,433
License agreements and other | Weighted Average
Amortized intangible assets
Weighted Average Amortization Period (Years)	38 years 10 months 24 days

GOODWILL AND OTHER INTANGIBLE_5

GOODWILL AND OTHER INTANGIBLE ASSETS - Future Amortization Expense (Details) $ in Thousands	Mar. 31, 2023 USD ($)
Statement of Financial Position [Abstract]
2023	$ 33,697
2024	41,457
2025	39,971
2026	37,519
2027	24,778
Thereafter	$ 133,386

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Effective income tax rate (as a percent)	25.50%	28%
Tax benefit from amended tax filings	$ 1.3
Increase in benefit from share based compensation	$ 0.8

DEBT - Short-term Debt Obligati

DEBT - Short-term Debt Obligations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Short-term Debt [Line Items]
Notes payable, revolving credit facility and overdrafts	$ 12,733	$ 3,810
Overdrafts
Short-term Debt [Line Items]
Notes payable, revolving credit facility and overdrafts	$ 12,733	$ 3,810
Overdrafts | Maximum
Short-term Debt [Line Items]
Interest rate (as a percent)	15.40%
Overdrafts | Minimum
Short-term Debt [Line Items]
Interest rate (as a percent)	1.46%

DEBT - Narrative (Details)

DEBT - Narrative (Details)	Jun. 30, 2021 USD ($) extension	Mar. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Jul. 06, 2022	Mar. 07, 2022 USD ($)	Oct. 31, 2020 USD ($)
Line of Credit Facility [Line Items]
Short-term borrowing		$ 12,733,000	$ 3,810,000
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
Long-term line of credit		0	0
Amended Revolving Credit Facility | Subsidiaries
Line of Credit Facility [Line Items]
Long-term line of credit		$ 0	$ 0
Senior unsecured notes 3.6%, due in 2032, net of discount of $0.9 million
Line of Credit Facility [Line Items]
Aggregate amount of debt issued					$ 400,000,000
Interest rate on notes (as a percent)		3.60%		3.60%	3.60%

DEBT - Long-Term Obligations (D

DEBT - Long-Term Obligations (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022	Jul. 06, 2022	Mar. 07, 2022
Components of the company's debt obligations
Finance Lease Liabilities	$ 26,486	$ 26,934
Unamortized debt issuance costs	(4,371)	(4,558)
Long-term debt and lease obligation, including current maturities	1,174,649	1,171,578
Current maturities of long-term obligations	(218,731)	(118,981)
Total long-term obligations	$ 955,918	1,052,597
Consolidated Leverage Ratio	1.80
Consolidated Interest Coverage Ratio	14.19
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% – 16.42%, due in monthly and annual installments through 2028
Components of the company's debt obligations
Long-term debt, gross	$ 28,093	29,167
Notes payable 0.00% – 16.42%, due in monthly and annual installments through 2028 | Minimum
Components of the company's debt obligations
Interest rate on notes (as a percent)	0%
Notes payable 0.00% – 16.42%, due in monthly and annual installments through 2028 | Maximum
Components of the company's debt obligations
Interest rate on notes (as a percent)	16.42%
Senior unsecured notes 1.0%, due in 2023
Components of the company's debt obligations
Long-term debt, gross	$ 108,455	106,995
Interest rate on notes (as a percent)	1%
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	$ 216,910	213,990
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 $0.9 million
Components of the company's debt obligations
Long-term debt, gross	$ 399,076	$ 399,050
Interest rate on notes (as a percent)	3.60%		3.60%	3.60%
Debt instrument, discount	$ 900

DEBT - Long-Term Maturities (De

DEBT - Long-Term Maturities (Details) $ in Thousands	Mar. 31, 2023 USD ($)
Debt Disclosure [Abstract]
Year One	$ 215,607
Year Two	276,944
Year Three	258,681
Year Four	2,030
Year Five	74
Thereafter	$ 399,198

LEASES - Components of Lease Ex

LEASES - Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Components of lease expense:
Operating lease cost	$ 5,414	$ 5,281
Finance lease cost:
Amortization of right-of-use assets	911	1,129
Interest on lease liabilities	299	325
Total finance lease cost	1,210	1,454
Short-term lease and variable lease costs	$ 4,912	$ 3,982

LEASES - Supplemental Cash Flow

LEASES - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 5,395	$ 5,500
Operating cash flows from finance leases	301	335
Financing cash flows from finance leases	830	1,179
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	4,844	6,406
Finance leases	$ 200	$ 599

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, 2023	Mar. 31, 2022
United States
Components of net periodic benefit cost:
Service cost	$ 2,409	$ 3,945
Interest cost	2,158	1,742
Expected return on plan assets	(3,094)	(3,227)
Amortization of net loss	0	1,667
Amortization of prior service cost	0	0
Net periodic benefit cost	1,473	4,127
Foreign Plans
Components of net periodic benefit cost:
Service cost	1,470	1,970
Interest cost	903	373
Expected return on plan assets	(580)	(727)
Amortization of net loss	228	444
Amortization of prior service cost	43	38
Net periodic benefit cost	$ 2,064	$ 2,098

RETIREMENT AND DEFERRED COMPE_4

RETIREMENT AND DEFERRED COMPENSATION PLANS - Narrative (Details)	3 Months Ended
	Mar. 31, 2023 USD ($)
Changes in the benefit obligations and plan assets
Minimum funding requirements	$ 0
United States
Changes in the benefit obligations and plan assets
Defined benefit plan, plan assets, contributions by employer	0
Foreign Plans
Changes in the benefit obligations and plan assets
Defined benefit plan, plan assets, contributions by employer	$ 300,000

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, 2023	Mar. 31, 2022
Accumulated other comprehensive income activity
Balance at the beginning of the period	$ 2,053,935
Other comprehensive (loss) income before reclassifications	23,701	$ (22,671)
Amounts reclassified from accumulated other comprehensive income (loss)	192	4
Net current-period other comprehensive (loss) income	23,893	(22,667)
Balance at the end of the period	2,112,823
Accumulated Other Comprehensive Income/(Loss)
Accumulated other comprehensive income activity
Balance at the beginning of the period	(341,366)	(316,041)
Balance at the end of the period	(317,473)	(338,708)
Foreign Currency
Accumulated other comprehensive income activity
Balance at the beginning of the period	(328,740)	(249,500)
Other comprehensive (loss) income before reclassifications	25,007	(23,080)
Amounts reclassified from accumulated other comprehensive income (loss)	0	0
Net current-period other comprehensive (loss) income	25,007	(23,080)
Balance at the end of the period	(303,733)	(272,580)
Defined Benefit Pension Plans
Accumulated other comprehensive income activity
Balance at the beginning of the period	(5,951)	(66,486)
Other comprehensive (loss) income before reclassifications	61	(783)
Amounts reclassified from accumulated other comprehensive income (loss)	192	1,608
Net current-period other comprehensive (loss) income	253	825
Balance at the end of the period	(5,698)	(65,661)
Derivatives
Accumulated other comprehensive income activity
Balance at the beginning of the period	(6,675)	(55)
Other comprehensive (loss) income before reclassifications	(1,367)	1,192
Amounts reclassified from accumulated other comprehensive income (loss)	0	(1,604)
Net current-period other comprehensive (loss) income	(1,367)	(412)
Balance at the end of the period	$ (8,042)	$ (467)

ACCUMULATED OTHER COMPREHENSI_4

ACCUMULATED OTHER COMPREHENSIVE INCOME - Reclassifications From Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Amount Reclassified from Accumulated Other Comprehensive Income
Income before Income Taxes	$ 73,269	$ 86,626
Income Tax Expense (Benefit)	(18,683)	(24,255)
Changes in cross currency swap: interest component	(10,228)	(8,930)
Changes in cross currency swap: foreign exchange component	(1,171)	(1,103)
Net Income	54,586	62,371
Amount Reclassified from Accumulated Other Comprehensive Income
Amount Reclassified from Accumulated Other Comprehensive Income
Net Income	192	4
Defined Benefit Pension Plans | Amount Reclassified from Accumulated Other Comprehensive Income
Amount Reclassified from Accumulated Other Comprehensive Income
Amortization of net loss	228	2,111
Amortization of prior service cost	43	38
Income before Income Taxes	271	2,149
Income Tax Expense (Benefit)	(79)	(541)
Net Income	192	1,608
Derivatives | Amount Reclassified from Accumulated Other Comprehensive Income
Amount Reclassified from Accumulated Other Comprehensive Income
Net Income	0	(1,604)
Derivatives | Changes in cross currency swap: interest component | Amount Reclassified from Accumulated Other Comprehensive Income
Amount Reclassified from Accumulated Other Comprehensive Income
Changes in cross currency swap: interest component	0	(20)
Derivatives | Changes in cross currency swap: foreign exchange component | Amount Reclassified from Accumulated Other Comprehensive Income
Amount Reclassified from Accumulated Other Comprehensive Income
Changes in cross currency swap: foreign exchange component	$ 0	$ (1,584)

DERIVATIVE INSTRUMENTS AND HE_3

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Narrative (Details) $ in Thousands, € in Millions	Jul. 06, 2022 EUR (€)	Mar. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Jul. 06, 2022 USD ($)	Jul. 06, 2022 EUR (€)	Mar. 07, 2022 USD ($)
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative assets		$ 773	$ 1,107
Derivative liabilities		11,429	9,109
Derivatives not Designated as Hedging Instruments
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative assets		773	1,107
Derivative liabilities		778	269
Cross Currency Swap Contract | Accounts payable, accrued and other liabilities | Derivatives not Designated as Hedging Instruments
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative liabilities		0	0
Cross Currency Swap Contract | Net Investment Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount hedged				$ 203,000	€ 200
Derivative, term of contract	7 years
Derivative fixed interest rate				2.5224%	2.5224%
Derivative, annual fixed interest payments receivable				$ 3,700
Cash flow hedge derivative instrument liability at fair value		10,700
Foreign Exchange Contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, notional amount		68,100
Foreign Exchange Contracts | Prepaid and other | Derivatives not Designated as Hedging Instruments
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative assets		773	1,107
Foreign Exchange Contracts | Accounts payable, accrued and other liabilities | Derivatives not Designated as Hedging Instruments
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative liabilities		$ 778	$ 269
Senior unsecured notes 3.6%, due in 2032, net of discount of $0.9 million
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Interest rate on notes (as a percent)		3.60%		3.60%	3.60%	3.60%
Debt instrument, face amount						$ 400,000
Debt instrument, periodic payment | €	€ 2.5

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, 2023	Dec. 31, 2022
Fair Value of Derivative Instruments
Derivative assets	$ 773	$ 1,107
Derivative liabilities	11,429	9,109
Derivatives Designated as Hedging Instruments
Fair Value of Derivative Instruments
Derivative assets	0	0
Derivative liabilities	10,651	8,840
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 Agreement | Accounts payable, accrued and other liabilities
Fair Value of Derivative Instruments
Derivative liabilities	10,651	8,840
Derivatives not Designated as Hedging Instruments
Fair Value of Derivative Instruments
Derivative assets	773	1,107
Derivative liabilities	778	269
Derivatives not Designated as Hedging Instruments | Foreign Exchange Contracts | Prepaid and other
Fair Value of Derivative Instruments
Derivative assets	773	1,107
Derivatives not Designated as Hedging Instruments | Foreign Exchange Contracts | Accounts payable, accrued and other liabilities
Fair Value of Derivative Instruments
Derivative liabilities	778	269
Derivatives not Designated as Hedging Instruments | Cross Currency Swap Agreement | Accounts payable, accrued and other liabilities
Fair Value of Derivative Instruments
Derivative liabilities	$ 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, 2023	Mar. 31, 2022
Derivative instruments, gain or (loss)
Interest expense	$ (10,228)	$ (8,930)
Miscellaneous, net	(1,171)	(1,103)
Derivatives in Cash Flow Hedging Relationships
Derivative instruments, gain or (loss)
Amount of Gain Recognized in Other Comprehensive Income on Derivative	(1,367)	1,192
Amount of Gain Reclassified from Accumulated Other Comprehensive Income on Derivative	0	1,604
Changes in cross currency swap: interest component | Derivatives in Cash Flow Hedging Relationships
Derivative instruments, gain or (loss)
Interest expense	(10,228)
Changes in cross currency swap: interest component | Interest expense | Derivatives in Cash Flow Hedging Relationships
Derivative instruments, gain or (loss)
Amount of Gain Recognized in Other Comprehensive Income on Derivative	0	(392)
Amount of Gain Reclassified from Accumulated Other Comprehensive Income on Derivative	0	20
Changes in cross currency swap: foreign exchange component | Derivatives in Cash Flow Hedging Relationships
Derivative instruments, gain or (loss)
Miscellaneous, net	(1,171)
Changes in cross currency swap: foreign exchange component | Miscellaneous, net | Derivatives in Cash Flow Hedging Relationships
Derivative instruments, gain or (loss)
Amount of Gain Recognized in Other Comprehensive Income on Derivative	(1,367)	1,584
Amount of Gain Reclassified from Accumulated Other Comprehensive Income on Derivative	$ 0	$ 1,584

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, 2023	Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of Loss Recognized in Income on Derivatives	$ (860)	$ (2,100)
Foreign Exchange Contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of Loss Recognized in Income on Derivatives	$ (860)	$ (2,100)

DERIVATIVE INSTRUMENTS AND HE_7

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Schedule of Derivative Assets and Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Derivative Assets
Gross Amount	$ 773	$ 1,107
Net Amounts Presented in the Statement of Financial Position	773	1,107
Net Amount	773	1,107
Derivative Liabilities
Gross Amount	11,429	9,109
Net Amounts Presented in the Statement of Financial Position	11,429	9,109
Net Amount	$ 11,429	$ 9,109

FAIR VALUE - Fair Value of Fina

FAIR VALUE - Fair Value of Financial Assets and Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2022	Mar. 31, 2023	Jun. 30, 2022	Mar. 31, 2022	Apr. 01, 2020	Oct. 31, 2019
Liabilities
Fair value of long-term obligations	$ 868,700	$ 828,900
Fusion Acquisition
Liabilities
Percentage of interest acquired					100%
Noble Acquisition
Liabilities
Percentage of interest acquired						100%
Level 3
Liabilities
Contingent consideration obligation	25,310	25,310
Level 3 | Enable Injections, Inc.
Assets
Convertible notes				$ 5,000
Level 3 | Siklus Refill Pte Ltd
Assets
Convertible notes			$ 1,000
Liabilities
Proceeds from collection of note receivable	400
Level 3 | Fusion Acquisition
Liabilities
Contingent consideration obligation	25,310	25,310
Level 3 | Noble Acquisition
Liabilities
Contingent consideration obligation	0	0
Assets and liabilities measured at fair value on recurring basis
Assets
Investment in equity securities	5,297	5,485
Foreign exchange contracts	1,107	773
Convertible notes	5,650	5,650
Total assets at fair value	12,054	11,908
Liabilities
Foreign exchange contracts	269	778
Cross currency swap contract	8,840	10,651
Contingent consideration obligation	25,310	25,310
Total liabilities at fair value	34,419	36,739
Assets and liabilities measured at fair value on recurring basis | Level 1
Assets
Investment in equity securities	5,297	5,485
Foreign exchange contracts	0	0
Convertible notes	0	0
Total assets at fair value	5,297	5,485
Liabilities
Foreign exchange contracts	0	0
Cross currency swap contract	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	1,107	773
Convertible notes	0	0
Total assets at fair value	1,107	773
Liabilities
Foreign exchange contracts	269	778
Cross currency swap contract	8,840	10,651
Contingent consideration obligation	0	0
Total liabilities at fair value	9,109	11,429
Assets and liabilities measured at fair value on recurring basis | Level 3
Assets
Investment in equity securities	0	0
Foreign exchange contracts	0	0
Convertible notes	5,650	5,650
Total assets at fair value	5,650	5,650
Liabilities
Foreign exchange contracts	0	0
Cross currency swap contract	0	0
Contingent consideration obligation	25,310	25,310
Total liabilities at fair value	$ 25,310	$ 25,310

FAIR VALUE - Contingent Conside

FAIR VALUE - Contingent Consideration Fair Value (Details) - Level 3 - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Contingent consideration obligation	$ 25,310	$ 25,310
Fusion Acquisition
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Contingent consideration obligation	25,310	25,310
Noble Acquisition
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Contingent consideration obligation	$ 0	$ 0

FAIR VALUE - Roll Forward (Deta

FAIR VALUE - Roll Forward (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of period	$ 25,310
Decrease in fair value recorded in earnings	0
Payments	0
Balance at end of period	$ 25,310

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Insurance claim recovery
Commitments and contingencies
Estimated potential gain contingency	$ 0
Indemnification agreements
Commitments and contingencies
Liabilities recorded under indemnification agreements	0	$ 0
Tax Assessment
Commitments and contingencies
Loss contingency estimate of possible loss	13,000,000
Tax Assessment, Interest and Penalties | Minimum
Commitments and contingencies
Loss contingency estimate of possible loss	5,000,000
Tax Assessment, Interest and Penalties | Maximum
Commitments and contingencies
Loss contingency estimate of possible loss	$ 6,000,000

STOCK REPURCHASE PROGRAM (Detai

STOCK REPURCHASE PROGRAM (Details) - USD ($) shares in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Apr. 18, 2019
Stock repurchase program
Common stock repurchased (retired and held in treasury (in shares)	171	140
Common stock repurchased (retired and held in treasury)	$ 19,700,000	$ 16,000,000
Remaining authorized repurchase amount	$ 88,500,000
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 ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award
Proceeds from stock option exercises	$ 13,809	$ 3,688
Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award
Weighted average fair value of stock options granted (in dollars per share)	$ 19.84
Non Executive Officer Employees
Share-based Compensation Arrangement by Share-based Payment Award
Weighted average fair value of stock options granted (in dollars per share)	$ 24.23
Time-Based RSUs
Share-based Compensation Arrangement by Share-based Payment Award
Vesting period (in years)	3 years
RSU's granted (in shares)	103,658
RSUs vested (in shares)	148,620
Time-Based RSUs | Director Stock Option Plans
Share-based Compensation Arrangement by Share-based Payment Award
Vesting period (in years)	1 year
Performance-Based RSUs
Share-based Compensation Arrangement by Share-based Payment Award
Vesting period (in years)	3 years
RSU's granted (in shares)	151,264
RSUs vested (in shares)	2,290
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award
Tax benefit	$ 2,500
Unrecognized compensation expense	$ 61,200
Weighted-average period cost will be recognized over	2 years 2 months 12 days
Options
Share-based Compensation Arrangement by Share-based Payment Award
Vesting period (in years)	3 years
Tax benefit	$ 2,500	300
Unrecognized compensation expense	$ 4,100
Expiration period (in years)	10 years
Proceeds from stock option exercises	$ 13,800	$ 3,700
Options | Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award
Share award premium	10%

STOCK-BASED COMPENSATION - Assu

STOCK-BASED COMPENSATION - Assumptions Used (Details) - Performance-Based RSUs - $ / shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award
Fair value per stock award (in dollars per share)	$ 116.17	$ 141.95
Grant date stock price (in dollars per share)	$ 111.38	$ 114.52
Aptar's stock price expected volatility	20%	20.20%
Expected average volatility of peer companies	39.70%	41.70%
Correlation assumption	33.30%	41.20%
Risk-free interest rate	3.83%	2.04%
Dividend yield assumption	1.36%	1.33%

STOCK-BASED COMPENSATION - Rest

STOCK-BASED COMPENSATION - Restricted Stock Unit Activity (Details)	3 Months Ended
	Mar. 31, 2023 $ / shares shares
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	426,361
Granted (in shares) | shares	103,658
Vested (in shares) | shares	(148,620)
Forfeited (in shares) | shares	(2,059)
Nonvested outstanding ending balance (in shares) | shares	379,340
Weighted Average Grant-Date Fair Value
Outstanding, Weighted average grant date fair value begging balance (in dollars per share) | $ / shares	$ 111.60
Granted, Weighted average grant date fair value (in dollars per share) | $ / shares	108.78
Vested, Weighted average grant date fair value (in dollars per share) | $ / shares	103.67
Forfeited, Weighted average grant date fair value (in dollars per share) | $ / shares	114.42
Outstanding, Weighted average grant date fair value ending balance (in dollars per share) | $ / shares	$ 113.97
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	610,871
Granted (in shares) | shares	151,264
Vested (in shares) | shares	(2,290)
Forfeited (in shares) | shares	(3,584)
Nonvested outstanding ending balance (in shares) | shares	756,261
Weighted Average Grant-Date Fair Value
Outstanding, Weighted average grant date fair value begging balance (in dollars per share) | $ / shares	$ 118.77
Granted, Weighted average grant date fair value (in dollars per share) | $ / shares	115.69
Vested, Weighted average grant date fair value (in dollars per share) | $ / shares	113.02
Forfeited, Weighted average grant date fair value (in dollars per share) | $ / shares	124.06
Outstanding, Weighted average grant date fair value ending balance (in dollars per share) | $ / shares	$ 118.14

STOCK-BASED COMPENSATION - Comp

STOCK-BASED COMPENSATION - Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award
Compensation expense	$ 12,071	$ 13,362
Fair value of units vested	14,587	12,361
Intrinsic value of units vested	17,046	$ 15,291
Options
Share-based Compensation Arrangement by Share-based Payment Award
Compensation expense	2,971
Compensation expense, net of tax	2,971
Options | Compensation expense (included in SG&A)
Share-based Compensation Arrangement by Share-based Payment Award
Compensation expense	2,734
Options | Compensation expense (included in Cost of sales)
Share-based Compensation Arrangement by Share-based Payment Award
Compensation expense	$ 237

STOCK-BASED COMPENSATION - Summ

STOCK-BASED COMPENSATION - Summary of Option Activity (Details) - Options - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Stock Awards Plans
Stock options activity
Outstanding at the beginning of the period (in shares)	2,623,944
Granted (in shares)	314,524
Exercised (in shares)	(208,987)
Forfeited or expired (in shares)	(2,867)
Outstanding at the end of the period (in shares)	2,726,614
Stock option weighted average exercise price
Outstanding at the beginning of the period (in dollars per share)	$ 73.34
Options granted, Weighted average exercise price per share (in dollars per share)	116.20
Options exercised, Weighted average exercise price per share (in dollars per share)	66.19
Options forfeited or expired, Weighted average exercise price per share (in dollars per share)	71.70
Outstanding at the end of the period (in dollars per share)	$ 78.83
Assumptions used to estimate fair value of stock options granted
Dividend yield assumption	1.41%
Expected Stock Price Volatility	16.55%
Risk-free interest rate	3.57%
Expected Life of Option (years)	7 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Options exercisable, Number of options (in shares)	2,412,090
Options exercisable, Weighted average exercise price per share (in dollars per share)	$ 73.96
Options outstanding, Weighted average remaining contractual term (in years)	4 years
Options exercisable, Weighted average remaining contractual term (in years)	3 years 2 months 12 days
Options outstanding, Aggregate intrinsic value (in USD)	$ 107,907
Options exercisable, Aggregate intrinsic value (in USD)	106,692
Options exercised, Intrinsic value, at end of period	$ 10,118	$ 3,780
Director Stock Option Plans
Stock options activity
Outstanding at the beginning of the period (in shares)	51,700
Granted (in shares)	0
Exercised (in shares)	(3,500)
Forfeited or expired (in shares)	0
Outstanding at the end of the period (in shares)	48,200
Stock option weighted average exercise price
Outstanding at the beginning of the period (in dollars per share)	$ 63.91
Options granted, Weighted average exercise price per share (in dollars per share)	0
Options exercised, Weighted average exercise price per share (in dollars per share)	56.49
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)	$ 64.45
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Options exercisable, Number of options (in shares)	48,200
Options exercisable, Weighted average exercise price per share (in dollars per share)	$ 64.45
Options outstanding, Weighted average remaining contractual term (in years)	10 months 24 days
Options exercisable, Weighted average remaining contractual term (in years)	10 months 24 days
Options outstanding, Aggregate intrinsic value (in USD)	$ 2,590
Options exercisable, Aggregate intrinsic value (in USD)	2,590
Options exercised, Intrinsic value, at end of period	$ 218	$ 0

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Numerator
Income available to common stockholders, Diluted	$ 54,764	$ 62,423
Income available to common stockholders, Basic	$ 54,764	$ 62,423
Denominator (Shares)
Basic (in shares)	65,372	65,543
Effect of dilutive stock-based compensation
Diluted (in shares)	66,735	67,146
Per Share Amount
Diluted (in dollars per share)	$ 0.82	$ 0.93
Basic (in dollars per share)	$ 0.84	$ 0.95
Options
Effect of dilutive stock-based compensation
Incremental common shares attributable to dilutive effect of share-based payment arrangements (in shares)	906	1,193
Restricted Stock Units
Effect of dilutive stock-based compensation
Incremental common shares attributable to dilutive effect of share-based payment arrangements (in shares)	457	410

SEGMENT INFORMATION - Summary o

SEGMENT INFORMATION - Summary of Reportable Segments (Details) $ in Thousands		3 Months Ended
	Jan. 01, 2023 segment	Mar. 31, 2023 USD ($) segment	Mar. 31, 2022 USD ($)
Segment Reporting [Abstract]
Number of reportable segments | segment		3
Number of operating segments realigned | segment	2
Financial information regarding the Company's reportable segments
Net Sales		$ 860,067	$ 844,932
Acquisition related costs		(255)	0
Restructuring initiatives		(11,524)	(291)
Net unrealized investment gain (loss)		188	(2,091)
Depreciation and amortization		(59,259)	(58,665)
Interest expense		(10,228)	(8,930)
Interest income		672	288
Income before Income Taxes		73,269	86,626
Optimization Initiative
Financial information regarding the Company's reportable segments
Restructuring initiatives		(11,540)	0
Prior Year Initiatives
Financial information regarding the Company's reportable segments
Restructuring initiatives		16	(291)
Aptar Pharma
Financial information regarding the Company's reportable segments
Net Sales		356,046	342,462
Adjusted EBITDA		109,298	115,552
Restructuring initiatives		(1,131)	0
Aptar Beauty
Financial information regarding the Company's reportable segments
Net Sales		326,389	309,080
Adjusted EBITDA		37,205	34,550
Restructuring initiatives		(9,291)	(111)
Aptar Closures
Financial information regarding the Company's reportable segments
Net Sales		177,632	193,390
Adjusted EBITDA		26,008	24,183
Restructuring initiatives		(522)	(180)
Corporate & Other, unallocated
Financial information regarding the Company's reportable segments
Adjusted EBITDA		(18,836)	(17,970)
Restructuring initiatives		(580)	0
Operating segment
Financial information regarding the Company's reportable segments
Net Sales		869,888	858,108
Operating segment | Aptar Pharma
Financial information regarding the Company's reportable segments
Net Sales		356,111	346,672
Operating segment | Aptar Beauty
Financial information regarding the Company's reportable segments
Net Sales		333,338	315,368
Operating segment | Aptar Closures
Financial information regarding the Company's reportable segments
Net Sales		180,439	196,068
Intersegment
Financial information regarding the Company's reportable segments
Net Sales		9,821	13,176
Intersegment | Aptar Pharma
Financial information regarding the Company's reportable segments
Net Sales		65	4,210
Intersegment | Aptar Beauty
Financial information regarding the Company's reportable segments
Net Sales		6,949	6,288
Intersegment | Aptar Closures
Financial information regarding the Company's reportable segments
Net Sales		$ 2,807	$ 2,678

ACQUISITIONS - Narrative (Detai

ACQUISITIONS - Narrative (Details) - USD ($) $ in Thousands			3 Months Ended
	Mar. 01, 2023	Aug. 31, 2022	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Acquisitions
Acquisition of businesses, net of cash acquired and release of escrow			$ 11,209	$ 0
Restricted cash included in prepaid and other			1,000	0
Acquisition related costs			255	$ 0
Goodwill			$ 955,602		$ 945,632
iD SCENT
Acquisitions
Acquisition of businesses, net of cash acquired and release of escrow	$ 9,100
Cash acquired	1,400
Gulf Closures
Acquisitions
Acquisition of businesses, net of cash acquired and release of escrow	2,100
Cash acquired	$ 1,200
Percentage of interest acquired	80%
Valuation of full company equity of acquired company	$ 3,300
Non-controlling interest value	$ 700
Metaphase
Acquisitions
Acquisition of businesses, net of cash acquired and release of escrow		$ 5,100
Cash acquired		100
Restricted cash included in prepaid and other		$ 1,000

INVESTMENT IN EQUITY SECURITI_3

INVESTMENT IN EQUITY SECURITIES - Schedule of Investments (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Schedule of Equity Method Investments [Line Items]
Total equity method investments and other investments	$ 52,581	$ 52,308
BTY
Schedule of Equity Method Investments [Line Items]
Equity Method Investments:	31,611	31,490
Sonmol
Schedule of Equity Method Investments [Line Items]
Equity Method Investments:	4,905	4,997
Desotec GmbH
Schedule of Equity Method Investments [Line Items]
Equity Method Investments:	879	863
PureCycle
Schedule of Equity Method Investments [Line Items]
Other Investments:	5,485	5,297
YAT
Schedule of Equity Method Investments [Line Items]
Other Investments:	5,532	5,508
Loop
Schedule of Equity Method Investments [Line Items]
Other Investments:	2,894	2,894
Others
Schedule of Equity Method Investments [Line Items]
Other Investments:	$ 1,275	$ 1,259

INVESTMENT IN EQUITY SECURITI_4

INVESTMENT IN EQUITY SECURITIES - Narrative (Details) € in Thousands				1 Months Ended		3 Months Ended		12 Months Ended
	Jul. 07, 2021 USD ($)	Apr. 01, 2020 USD ($)	Jan. 01, 2020 USD ($)	Nov. 30, 2020 USD ($)	Aug. 31, 2019 USD ($)	Mar. 31, 2023 USD ($)	Mar. 31, 2022 USD ($)	Dec. 31, 2009 EUR (€)	Mar. 31, 2021
Schedule of Equity Method Investments [Line Items]
Income (loss) from equity method investments						$ 131,000	$ 86,000
Note receivable, bad debt reserve						1,400,000
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%
Investment in equity securities			$ 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%
BTY | Call Option | Maximum
Schedule of Equity Method Investments [Line Items]
Ownership percentage of equity method investment			31%
Sonmol
Schedule of Equity Method Investments [Line Items]
Ownership percentage of equity method investment		30%
Investment in equity securities		$ 5,000,000
Desotec GmbH
Schedule of Equity Method Investments [Line Items]
Ownership percentage of equity method investment								23%
Investment in equity securities | €								€ 574
PureCycle
Schedule of Equity Method Investments [Line Items]
Investment ownership percentage									0.01
PureCycle | Preferred stock
Schedule of Equity Method Investments [Line Items]
Investment in equity securities					$ 3,000,000
Increase (decrease) in value of preferred equity stock investment				$ 3,100,000
YAT
Schedule of Equity Method Investments [Line Items]
Investment in equity securities	$ 5,900,000
Investment ownership percentage	0.10
Purecycle | Preferred stock
Schedule of Equity Method Investments [Line Items]
Equity received in exchange for services					700,000
Loop | Preferred stock
Schedule of Equity Method Investments [Line Items]
Investment in equity securities					$ 2,900,000

INVESTMENT IN EQUITY SECURITI_5

INVESTMENT IN EQUITY SECURITIES - Purecycle Investment (Details) - USD ($) $ in Thousands	1 Months Ended		3 Months Ended
	Aug. 31, 2022	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022
Schedule of Equity Method Investments [Line Items]
Proceeds			$ 0	$ 1,088
PureCycle | Preferred stock
Schedule of Equity Method Investments [Line Items]
Shares Sold (in shares)	50,000	107,600
Proceeds	$ 511	$ 1,088
Realized Gain	$ 372	$ 841

INVESTMENT IN EQUITY SECURITI_6

INVESTMENT IN EQUITY SECURITIES - Net Investment Gain/Loss (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Schedule of Equity Method Investments [Line Items]
Net investment gain (loss)	$ 188	$ (1,250)
PureCycle | Preferred stock
Schedule of Equity Method Investments [Line Items]
Net investment gain (loss)	$ 188	$ (1,250)

RESTRUCTURING INITIATIVES - Nar

RESTRUCTURING INITIATIVES - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Restructuring and Related Activities [Abstract]
Restructuring initiatives	$ 11,524	$ 291

RESTRUCTURING INITIATIVES - Res

RESTRUCTURING INITIATIVES - Restructuring Activity (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Restructuring reserve
Net Charges	$ 11,524	$ 291
Optimization Plan
Restructuring reserve
Restructuring reserve, balance at the beginning of the period	4,993
Net Charges	11,540
Cash Paid	(2,966)
Interest and FX Impact	32
Restructuring reserve, balance at the end of the period	13,599
Cumulative expense incurred	17,800
Employee severance | Optimization Plan
Restructuring reserve
Restructuring reserve, balance at the beginning of the period	4,993
Net Charges	10,295
Cash Paid	(2,179)
Interest and FX Impact	27
Restructuring reserve, balance at the end of the period	13,136
Professional fees and other costs | Optimization Plan
Restructuring reserve
Restructuring reserve, balance at the beginning of the period	0
Net Charges	1,245
Cash Paid	(787)
Interest and FX Impact	5
Restructuring reserve, balance at the end of the period	$ 463