AptarGroup (ATR) 10-Q 5 May 14 2014 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Mar. 31, 2014	Apr. 30, 2014
Document and Entity Information	'	'
Entity Registrant Name	'APTARGROUP INC	'
Entity Central Index Key	'0000896622	'
Document Type	'10-Q	'
Document Period End Date	31-Mar-14	'
Amendment Flag	'false	'
Current Fiscal Year End Date	'--12-31	'
Entity Current Reporting Status	'Yes	'
Entity Filer Category	'Large Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	65,453,658
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q1	'

CONDENSED_CONSOLIDATED_STATEME

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
CONDENSED CONSOLIDATED STATEMENTS OF INCOME	'	'
Net Sales	$676,051	$617,633
Operating Expenses:	'	'
Cost of sales (exclusive of depreciation and amortization shown below)	453,411	418,486
Selling, research & development and administrative	106,674	94,307
Depreciation and amortization	37,247	36,171
Restructuring initiatives	'	4,067
Total Operating Expenses	597,332	553,031
Operating Income	78,719	64,602
Other Income (Expense):	'	'
Interest expense	-4,881	-5,081
Interest income	1,016	849
Equity results of affiliates	-1,546	-262
Miscellaneous, net	372	-706
Total Other Income (Expense)	-5,039	-5,200
Income before Income Taxes	73,680	59,402
Provision for Income Taxes	25,272	19,424
Net Income	48,408	39,978
Net (Income)/Loss Attributable to Noncontrolling Interests	-19	51
Net Income Attributable to AptarGroup, Inc.	$48,389	$40,029
Net Income Attributable to AptarGroup, Inc. Per Common Share:	'	'
Basic (in dollars per share)	$0.74	$0.61
Diluted (in dollars per share)	$0.71	$0.59
Average Number of Shares Outstanding:	'	'
Basic (in shares)	65,468	66,155
Diluted (in shares)	68,232	68,296
Dividends per Common Share (in dollars per share)	$0.25	$0.25

CONDENSED_CONSOLIDATED_STATEME1

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME	'	'
Net Income	$48,408	$39,978
Other Comprehensive Income (Loss):	'	'
Foreign currency translation adjustments	563	-35,613
Changes in treasury locks, net of tax	6	15
Defined benefit pension plan, net of tax	'	'
Amortization of prior service cost included in net income, net of tax	53	61
Amortization of net loss included in net income, net of tax	665	1,118
Total defined benefit pension plan, net of tax	718	1,179
Total other comprehensive income (loss)	1,287	-34,419
Comprehensive Income	49,695	5,559
Comprehensive (Income)/Loss Attributable to Noncontrolling Interests	-9	50
Comprehensive Income Attributable to AptarGroup, Inc.	$49,686	$5,609

CONDENSED_CONSOLIDATED_BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Current Assets:	'	'
Cash and equivalents	$317,177	$309,861
Accounts and notes receivable, less allowance for doubtful accounts of $5,063 in 2014 and $4,416 in 2013	505,505	438,221
Inventories	358,709	353,159
Prepaid and other	97,651	97,170
Total Current Assets	1,279,042	1,198,411
Property, Plant and Equipment:	'	'
Buildings and improvements	379,522	377,300
Machinery and equipment	2,016,784	1,982,195
Property, Plant and Equipment, Gross	2,396,306	2,359,495
Less: Accumulated depreciation	-1,550,359	-1,518,894
Property, Plant and Equipment, Net	845,947	840,601
Land	24,104	24,061
Total Property, Plant and Equipment	870,051	864,662
Other Assets:	'	'
Investments in affiliates	6,730	8,243
Goodwill	359,681	358,865
Intangible assets, net	48,964	49,951
Miscellaneous	15,965	17,630
Total Other Assets	431,340	434,689
Total Assets	2,580,433	2,497,762
Current Liabilities:	'	'
Notes payable	173,284	138,445
Current maturities of long-term obligations	1,004	1,325
Accounts payable and accrued liabilities	411,506	403,051
Total Current Liabilities	585,794	542,821
Long-Term Obligations	354,758	354,814
Deferred Liabilities and Other:	'	'
Deferred income taxes	40,780	42,072
Retirement and deferred compensation plans	75,002	71,883
Deferred and other non-current liabilities	5,213	5,864
Commitments and contingencies	'	'
Total Deferred Liabilities and Other	120,995	119,819
AptarGroup, Inc. stockholders' equity	'	'
Common stock, $.01 par value, 199 million shares authorized; 85.6 and 85.4 million shares issued as of March 31, 2014 and December 31, 2013, respectively	855	853
Capital in excess of par value	512,192	493,947
Retained earnings	1,651,442	1,619,419
Accumulated other comprehensive income	111,048	109,751
Less treasury stock at cost, 20.1 and 20.0 million shares as of March 31, 2014 and December 31, 2013, respectively	-757,211	-744,213
Total AptarGroup, Inc. Stockholders' Equity	1,518,326	1,479,757
Noncontrolling interests in subsidiaries	560	551
Total Stockholders' Equity	1,518,886	1,480,308
Total Liabilities and Stockholders' Equity	$2,580,433	$2,497,762

CONDENSED_CONSOLIDATED_BALANCE1

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, except Share data in Millions, unless otherwise specified
CONDENSED CONSOLIDATED BALANCE SHEETS	'	'
Accounts and notes receivable, allowance for doubtful accounts (in dollars)	$5,063	$4,416
Common stock, par value (in dollars per share)	$0.01	$0.01
Common stock, shares authorized	199	199
Common stock, shares issued	85.6	85.4
Treasury stock, shares	20.1	20

CONDENSED_CONSOLIDATED_STATEME2

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (USD $)	Total	Retained Earnings	Accumulated Other Comprehensive Income/(Loss)	Common Stock Par Value	Treasury Stock	Capital in Excess of Par Value	Non-Controlling Interest
In Thousands, unless otherwise specified
Balance at Dec. 31, 2012	$1,380,498	$1,513,558	$60,683	$840	($625,401)	$430,210	$608
Increase (Decrease) in Stockholders' Equity	'	'	'	'	'	'	'
Net income (loss)	39,978	40,029	'	'	'	'	-51
Foreign currency translation adjustments	-35,613	'	-35,614	'	'	'	1
Changes in unrecognized pension gains/losses and related amortization, net of tax	1,179	'	1,179	'	'	'	'
Changes in treasury locks, net of tax	15	'	15	'	'	'	'
Stock option exercises & restricted stock vestings	28,974	'	'	5	1	28,968	'
Cash dividends declared on common stock	-16,493	-16,493	'	'	'	'	'
Treasury stock purchased	-10,768	'	'	'	-10,768	'	'
Balance at Mar. 31, 2013	1,387,770	1,537,094	26,263	845	-636,168	459,178	558
Balance at Dec. 31, 2013	1,480,308	1,619,419	109,751	853	-744,213	493,947	551
Increase (Decrease) in Stockholders' Equity	'	'	'	'	'	'	'
Net income (loss)	48,408	48,389	'	'	'	'	19
Foreign currency translation adjustments	563	'	573	'	'	'	-10
Changes in unrecognized pension gains/losses and related amortization, net of tax	718	'	718	'	'	'	'
Changes in treasury locks, net of tax	6	'	6	'	'	'	'
Stock option exercises & restricted stock vestings	18,248	'	'	2	1	18,245	'
Cash dividends declared on common stock	-16,366	-16,366	'	'	'	'	'
Treasury stock purchased	-12,999	'	'	'	-12,999	'	'
Balance at Mar. 31, 2014	$1,518,886	$1,651,442	$111,048	$855	($757,211)	$512,192	$560

CONDENSED_CONSOLIDATED_STATEME3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Cash Flows from Operating Activities:	'	'
Net income	$48,408	$39,978
Adjustments to reconcile net income to net cash provided by operations:	'	'
Depreciation	35,849	34,934
Amortization	1,398	1,237
Stock based compensation	8,396	6,534
Provision/(Recovery) for doubtful accounts	716	-311
Deferred income taxes	-2,048	-4,668
Defined benefit plan expense	4,226	5,123
Equity in results of affiliates in excess of cash distributions received	1,546	262
Changes in balance sheet items, excluding effects from foreign currency adjustments:	'	'
Accounts receivable	-67,150	-52,022
Inventories	-6,007	-9,720
Prepaid and other current assets	-5,666	-8,947
Accounts payable and accrued liabilities	6,320	5,528
Income taxes payable	-5,097	4,509
Retirement and deferred compensation plans	-3,174	-3,118
Other changes, net	14,329	6,790
Net Cash Provided by Operations	32,046	26,109
Cash Flows from Investing Activities:	'	'
Capital expenditures	-42,914	-34,832
Disposition of property and equipment	2,378	2,162
Net Cash Used by Investing Activities	-40,536	-32,670
Cash Flows from Financing Activities:	'	'
Proceeds from notes payable	35,609	14,754
Repayments of long-term obligations	-293	-585
Dividends paid	-16,366	-16,493
Credit facility costs	-299	-497
Proceeds from stock option exercises	7,770	19,540
Purchase of treasury stock	-12,999	-10,768
Excess tax benefit from exercise of stock options	1,590	2,403
Net Cash Provided by Financing Activities	15,012	8,354
Effect of Exchange Rate Changes on Cash	794	-6,444
Net Increase/(Decrease) in Cash and Equivalents	7,316	-4,651
Cash and Equivalents at Beginning of Period	309,861	229,755
Cash and Equivalents at End of Period	$317,177	$225,104

SUMMARY_OF_SIGNIFICANT_ACCOUNT

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2014
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	'
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	'
	NOTE 1 – 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” or “Company” as used herein refer to AptarGroup, Inc. and our subsidiaries.  All significant intercompany accounts and transactions have been eliminated.
	In the opinion of management, the Unaudited Condensed Consolidated Financial Statements include all adjustments, consisting of only 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 Unaudited 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 disclosure normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been condensed or omitted pursuant to such rules and regulations, although the Company believes 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 the Company’s Annual Report on Form 10-K for the year ended December 31, 2013 but does not include all disclosures required by GAAP.  Accordingly, these Unaudited Condensed Consolidated Financial Statements and related notes should be read in conjunction with the Audited Consolidated Financial Statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013.  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 PRONOUNCEMENTS
	Changes to GAAP are established by the Financial Accounting Standards Board (“FASB”) in the form of accounting standards updates to the FASB’s Accounting Standards Codification.
	In July 2013, the FASB issued authoritative guidance on the presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. This standard requires an entity to present an unrecognized tax benefit, or a portion of an unrecognized tax benefit, in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward. The guidance is effective for the Company’s fiscal years beginning after December 15, 2013.  This standard did not impact our current year financial statements as this was already the Company’s existing reporting treatment.
	In March 2013, the FASB issued authoritative guidance which permits an entity to release cumulative translation adjustments into net income when a reporting entity (parent) ceases to have a controlling financial interest in a subsidiary or group of assets that is a business within a foreign entity. Accordingly, the cumulative translation adjustment should be released into net income only if the sale or transfer results in the complete or substantially complete liquidation of the foreign entity in which the subsidiary or group of assets had resided, or if a controlling financial interest is no longer held. The guidance is effective for the Company’s fiscal years beginning after December 15, 2013.  This standard has only a minimal impact on our current year financial statements.
	In February 2013, the FASB issued authoritative guidance that amends the presentation of accumulated other comprehensive income and clarifies how to report the effect of significant reclassifications out of accumulated other comprehensive income.  The guidance requires footnote disclosures regarding the changes in accumulated other comprehensive income by component and the line items affected in the statements of earnings.  The adoption of this standard had no impact on the Unaudited Condensed Consolidated Financial Statements other than disclosure.  Additional information can be found in Note 6 of the Unaudited Notes to the Consolidated Financial Statements.
	In January 2013, the FASB issued authoritative guidance requiring new asset and liability offsetting disclosures for derivatives, repurchase agreements and security lending transactions to the extent that they are offset in the financial statements or are subject to an enforceable master netting arrangement or similar agreement.  We do not have any repurchase agreements and do not participate in securities lending transactions.  Our derivative instruments are not offset in the financial statements. Accordingly, the adoption of this standard had no impact on the Unaudited Condensed Consolidated Financial Statements other than disclosure.  Additional information can be found in Note 7 of the Unaudited Notes to the Condensed Consolidated Financial Statements.
	Other accounting standards that have been issued by the FASB or other standards-setting bodies that do not require adoption until a future date are not expected to have a material impact on our Unaudited Condensed Consolidated Financial Statements upon adoption.
	INCOME TAXES
	The Company computes taxes on income in accordance with the tax rules and regulations of the many taxing authorities where income is earned.  The income tax rates imposed by these taxing authorities may vary substantially.  Taxable income may differ from pretax income for financial accounting purposes.  To the extent that these differences create differences between the tax basis of an asset or liability and our reported amount in the financial statements, an appropriate provision for deferred income taxes is made.
	In our determination of which foreign earnings are permanently reinvested in foreign operations, the Company considers numerous factors, including the financial requirements of the U.S. parent company and those of our foreign subsidiaries, the U.S. funding needs for dividend payments and stock repurchases, and the tax consequences of remitting earnings to the U.S.  From this analysis, current year repatriation decisions are made in an attempt to provide a proper mix of debt and shareholder capital both within the U.S. and for non-U.S. operations.  The Company’s policy is to permanently reinvest our accumulated foreign earnings and only will make a distribution out of current year earnings to meet the cash needs at the parent company.  As such, the Company does not provide for taxes on earnings that are deemed to be permanently reinvested.  Since no distribution to the U.S. of foreign earnings is expected in 2014, the effective tax rate for 2014 includes no tax cost of repatriation.
	The Company provides a liability for the amount of tax benefits realized from uncertain tax positions.  This liability is provided whenever the Company determines that a tax benefit will not meet a more-likely-than-not threshold for recognition.  See Note 4 of the Unaudited Notes to the Condensed Consolidated Financial Statements for more information.

INVENTORIES

INVENTORIES	3 Months Ended
	Mar. 31, 2014
INVENTORIES	'
INVENTORIES	'
	NOTE 2 - INVENTORIES
	At March 31, 2014 and December 31, 2013, approximately 19% and 20%, respectively, of the total inventories are accounted for by the LIFO method.  Inventories, by component, consisted of:
		March 31,			December 31,
		2014			2013
	Raw materials	$	116,976		$	114,501
	Work in process	107,450			108,924
	Finished goods	142,723			137,591
	Total	367,149			361,016
	Less LIFO Reserve	(8,440		)	(7,857		)
	Total	$	358,709		$	353,159

GOODWILL_AND_OTHER_INTANGIBLE_

GOODWILL AND OTHER INTANGIBLE ASSETS	3 Months Ended
	Mar. 31, 2014
GOODWILL AND OTHER INTANGIBLE ASSETS	'
GOODWILL AND OTHER INTANGIBLE ASSETS	'
	NOTE 3 – GOODWILL AND OTHER INTANGIBLE ASSETS
	The changes in the carrying amount of goodwill since the year ended December 31, 2013 are as follows by reporting segment:
		Beauty +						Food +			Corporate
		Home			Pharma			Beverage			& Other			Total
	Goodwill	$	181,002		$	159,949		$	17,914		$	1,615		$	360,480
	Accumulated impairment losses	--			--			--			(1,615		)	(1,615		)
	Balance as of December 31, 2013	$	181,002		$	159,949		$	17,914		$	--		$	358,865
	Acquisition	--			--			--			--			--
	Foreign currency exchange effects	345			489			(18		)	--			816
	Goodwill	$	181,347		$	160,438		$	17,896		$	1,615		$	361,296
	Accumulated impairment losses	--			--			--			(1,615		)	(1,615		)
	Balance as of March 31, 2014	$	181,347		$	160,438		$	17,896		$	--		$	359,681
	The table below shows a summary of intangible assets as of March 31, 2014 and December 31, 2013.
				March 31, 2014									December 31, 2013
	Weighted Average			Gross									Gross
	Amortization			Carrying			Accumulated			Net			Carrying			Accumulated			Net
	Period (Years)			Amount			Amortization			Value			Amount			Amortization			Value
	Amortized intangible assets:
	Patents	7		$	20,210		$	(19,842	)	$	368		$	20,165		$	(19,732	)	$	433
	Acquired Technology	15		40,641			(4,742		)	35,899			40,546			(4,055		)	36,491
	License agreements and other	5		35,650			(22,953		)	12,697			35,259			(22,232		)	13,027
	Total intangible assets	10		$	96,501		$	(47,537	)	$	48,964		$	95,970		$	(46,019	)	$	49,951
	Aggregate amortization expense for the intangible assets above for the quarters ended March 31, 2014 and 2013 was $1,398 and $1,237, respectively.
	Future estimated amortization expense for the years ending December 31 is as follows:
	2014	$	4,133	(remaining estimated amortization for 2014)
	2015	5,349
	2016	4,343
	2017	3,619
	2018 and thereafter	31,520
	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, 2014.

INCOME_TAXES_UNCERTAINTIES

INCOME TAXES UNCERTAINTIES	3 Months Ended
	Mar. 31, 2014
INCOME TAX UNCERTAINTIES	'
INCOME TAX UNCERTAINTIES	'
	NOTE 4 — INCOME TAX UNCERTAINTIES
	The Company had approximately $7.2 and $8.0 million recorded for income tax uncertainties as of March 31, 2014 and December 31, 2013, respectively.  The $0.8 million change in income tax uncertainties was primarily the result of an audit settlement in the U.S.  The amount, if recognized, that would impact the effective tax rate is $7.0 and $7.8 million, respectively. The Company estimates that it is reasonably possible that the liability for uncertain tax positions will decrease by no more than $5 million in the next twelve months from the resolution of various uncertain positions as a result of the completion of tax audits, litigation and the expiration of the statute of limitations in various jurisdictions.

RETIREMENT_AND_DEFERRED_COMPEN

RETIREMENT AND DEFERRED COMPENSATION PLANS	3 Months Ended
	Mar. 31, 2014
RETIREMENT AND DEFERRED COMPENSATION PLANS	'
RETIREMENT AND DEFERRED COMPENSATION PLANS	'
	NOTE 5 — RETIREMENT AND DEFERRED COMPENSATION PLANS
	Components of Net Periodic Benefit Cost:
		Domestic Plans						Foreign Plans
	Three months ended March 31,	2014			2013			2014			2013
	Service cost	$	2,011		$	2,225		$	1,079		$	969
	Interest cost	1,482			1,250			699			665
	Expected return on plan assets	(1,646		)	(1,414		)	(510		)	(452		)
	Amortization of net loss	717			1,434			313			352
	Amortization of prior service cost	--			1			81			93
	Net periodic benefit cost	$	2,564		$	3,496		$	1,662		$	1,627
	EMPLOYER CONTRIBUTIONS
	Although the Company has no minimum funding requirement, we plan to contribute approximately $10 million to our domestic defined benefit plans in 2014.  No 2014 contributions were made as of March 31, 2014. The Company also expects to contribute approximately $5.6 million to our foreign defined benefit plans in 2014 and, as of March 31, 2014, we have contributed approximately $0.8 million.

ACCUMULATED_OTHER_COMPREHENSIV

ACCUMULATED OTHER COMPREHENSIVE INCOME	3 Months Ended
	Mar. 31, 2014
ACCUMULATED OTHER COMPREHENSIVE INCOME	'
ACCUMULATED OTHER COMPREHENSIVE INCOME	'
	NOTE 6 — ACCUMULATED OTHER COMPREHENSIVE INCOME
	Changes in Accumulated Other Comprehensive Income by Component:
		Foreign				Defined Benefit				Other			Total
		Currency				Pension Plans
	Balance – December 31, 2012	$		120,097		$		(59,248	)	$	(166	)	$	60,683
	Other comprehensive income before reclassifications	(35,614			)	--				--			(35,614		)
	Amounts reclassified from accumulated other comprehensive income	--				1,179				15			1,194
	Net current-period other comprehensive income	(35,614			)	1,179				15			(34,420		)
	Balance - March 31, 2013	$		84,483		$		(58,069	)	$	(151	)	$	26,263
	Balance – December 31, 2013	$		149,965		$		(40,093	)	$	(121	)	$	109,751
	Other comprehensive income before reclassifications	913				--				--			913
	Amounts reclassified from accumulated other comprehensive income	(340			)	718				6			384
	Net current-period other comprehensive income	573				718				6			1,297
	Balance - March 31, 2014	$		150,538		$		(39,375	)	$	(115	)	$	111,048
	Reclassifications Out of Accumulated Other Comprehensive Income:
	Details about Accumulated Other	Amount Reclassified from Accumulated						Affected Line in the Statement
	Comprehensive Income Components	Other Comprehensive Income						Where Net Income is Presented
	Three months ended March 31,	2014			2013
	Defined Benefit Pension Plans
	Amortization of net loss	$	1,030		$	1,786		(a)
	Amortization of prior service cost	81			94			(a)
		1,111			1,880			Total before tax
		(393		)	(701		)	Tax benefit
		$	718		$	1,179		Net of tax
	Foreign Currency
	Foreign Currency Gain	(340		)	--			Miscellaneous, net
		(340		)	--			Total before tax
		--			--			Tax benefit
		$	(340	)	$	--		Net of tax
	Other
	Changes in treasury locks	9			23			Interest Expense
		9			23			Total before tax
		(3		)	(8		)	Tax benefit
		$	6		$	15		Net of tax
	Total reclassifications for the period	$	384		$	1,194
	(a)         These accumulated other comprehensive income components are included in the computation of net periodic benefit costs, net of tax (see Note 5 — Retirement and Deferred Compensation Plans for additional details).

DERIVATIVE_INSTRUMENTS_AND_HED

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	3 Months Ended
	Mar. 31, 2014
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	'
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	'
	NOTE 7 — DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES
	The Company maintains a foreign exchange risk management policy designed to establish a framework to protect the value of the Company’s non-functional denominated transactions from adverse changes in exchange rates.  Sales of the Company’s 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 the Company’s results of operations.  The Company’s 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.  The Company may use foreign currency forward exchange contracts, options and cross currency swaps to economically hedge these risks.
	The Company maintains an interest rate risk management strategy to minimize significant, unanticipated earnings fluctuations that may arise from volatility in interest rates.
	For derivative instruments designated as hedges, the Company formally documents 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.  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.
	HEDGE OF NET INVESTMENTS IN FOREIGN OPERATIONS
	A significant number of the Company’s 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 the Company’s foreign entities.  A strengthening U.S. dollar relative to foreign currencies has a dilutive translation effect on the Company’s financial condition and results of operations.  Conversely, a weakening U.S. dollar has an additive effect.  The Company in some cases maintains debt in these subsidiaries to offset the net asset exposure.  The Company does not otherwise actively manage this risk using derivative financial instruments.  In the event the Company plans on a full or partial liquidation of any of our foreign subsidiaries where the Company’s net investment is likely to be monetized, the Company will consider hedging the currency exposure associated with such a transaction.
	OTHER
	As of March 31, 2014, the Company has recorded the fair value of foreign currency forward exchange contracts of $1.1 million in prepaid and other, $0.1 million in miscellaneous other assets, $1.2 million in accounts payable and accrued liabilities, and $0.1 million in deferred and other non-current liabilities in the balance sheet.  All forward exchange contracts outstanding as of March 31, 2014 had an aggregate contract amount of $146 million.
	Fair Value of Derivative Instruments in the Condensed Consolidated Balance Sheets as of March 31, 2014
	and December 31, 2013
	Derivative Contracts Not Designated	Balance Sheet		March 31,			December
	as Hedging Instruments	Location		2014			31, 2013
	Derivative Assets
	Foreign Exchange Contracts	Prepaid and other		$	1,124		$	3,003
	Foreign Exchange Contracts	Miscellaneous Other Assets		62			985
				$	1,186		$	3,988
	Derivative Liabilities
	Foreign Exchange Contracts	Accounts payable and accrued liabilities		$	1,168		$	522
	Foreign Exchange Contracts	Deferred and other non-current liabilities		75			110
				$	1,243		$	632
	The Effect of Derivative Instruments on the Condensed Consolidated Statements of Income
	for the Quarters Ended March 31, 2014 and March 31, 2013
	Derivatives Not Designated as	Location of Gain or (Loss) Recognized in		Amount of Gain or (Loss)
	Hedging Instruments	Income on Derivative		Recognized in Income on
				Derivative
				2014			2013
	Foreign Exchange Contracts	Other Income (Expense) Miscellaneous, net		$	(159	)	$	(2,598	)
				$	(159	)	$	(2,598	)
							Net Amounts			Gross Amounts not Offset in the
					Gross Amounts		Presented in			Statement of Financial Position
		Gross			Offset in the		the Statement of			Financial	Cash Collateral	Net
		Amount			Financial Position		Financial Position			Instruments	Received	Amount
	Description
	March 31, 2014
	Derivative Assets	$	1,186		--		$	1,186		--	--	$	1,186
	Total Assets	$	1,186		--		$	1,186		--	--	$	1,186
	Derivative Liabilities	$	1,243		--		$	1,243		--	--	$	1,243
	Total Liabilities	$	1,243		--		$	1,243		--	--	$	1,243
	December 31, 2013
	Derivative Assets	$	3,988		--		$	3,988		--	--	$	3,988
	Total Assets	$	3,988		--		$	3,988		--	--	$	3,988
	Derivative Liabilities	$	632		--		$	632		--	--	$	632
	Total Liabilities	$	632		--		$	632		--	--	$	632

FAIR_VALUE

FAIR VALUE	3 Months Ended
	Mar. 31, 2014
FAIR VALUE	'
FAIR VALUE	'
	NOTE 8 — 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, 2014, the fair values of our financial assets and liabilities were categorized as follows:
		Total		Level 1		Level 2		Level 3
	Assets
	Forward exchange contracts (a)	$	1,186	$	--	$	1,186	$	--
	Total assets at fair value	$	1,186	$	--	$	1,186	$	--
	Liabilities
	Forward exchange contracts (a)	$	1,243	$	--	$	1,243	$	--
	Total liabilities at fair value	$	1,243	$	--	$	1,243	$	--
	As of December 31, 2013, the fair values of our financial assets and liabilities were categorized as follows:
		Total		Level 1		Level 2		Level 3
	Assets
	Forward exchange contracts (a)	$	3,988	$	--	$	3,988	$	--
	Total assets at fair value	$	3,988	$	--	$	3,988	$	--
	Liabilities
	Forward exchange contracts (a)	$	632	$	--	$	632	$	--
	Total liabilities at fair value	$	632	$	--	$	632	$	--
	(a)   Market approach valuation technique based on observable market transactions of spot and forward rates.
	The carrying amounts of the Company’s other current financial instruments such as cash and equivalents, notes payable and current maturities of long-term obligations approximate fair value due to the short-term maturity of the instrument.  The Company considers our long-term obligations a Level 2 liability and utilizes the market approach valuation technique based on interest rates that are currently available to the Company for issuance of debt with similar terms and maturities.  The estimated fair value of the Company’s long-term obligations was $368 million as of March 31, 2014 and $363 million as of December 31, 2013.

COMMITMENTS_AND_CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2014
COMMITMENTS AND CONTINGENCIES	'
COMMITMENTS AND CONTINGENCIES	'
	NOTE 9 —- COMMITMENTS AND CONTINGENCIES
	The Company, in the normal course of business, is subject to a number of lawsuits and claims both actual and potential in nature, including the proceeding noted below.  While management believes the resolution of these claims and lawsuits will not have a material adverse effect on the Company’s financial position or 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.
	In 2010, a competitor filed a lawsuit against certain AptarGroup, Inc. subsidiaries alleging that certain processes performed by a supplier of a specific type of diptube utilized by the AptarGroup, Inc. subsidiaries in the manufacture of a specific type of pump infringes patents owned by the counterparty.  This lawsuit sought an injunction barring the manufacture, use, sale and importation of this specific pump for use in fragrance containers.  In April 2012, the Company’s United States subsidiary was found to have infringed on patents owned by the counterparty within the United States.  The ruling does not apply to the manufacture or sales of pumps in countries outside the United States and no damages were assessed.  The Company pursued the issue in the Appellate Court, where certain rulings were confirmed and others were returned to the district court, where a trial date was set for March 2014.  On February 13, 2014, the parties agreed to a license agreement, effectively ending the lawsuit and its related costs.
	Under our Certificate of Incorporation, the Company has 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 the Company could be required to make under these indemnification agreements is unlimited; however, the Company has a directors and officers liability insurance policy that covers a portion of our exposure.  As a result of our insurance policy coverage, the Company believes the estimated fair value of these indemnification agreements is minimal.  The Company has no liabilities recorded for these agreements as of March 31, 2014.

STOCK_REPURCHASE_PROGRAM

STOCK REPURCHASE PROGRAM	3 Months Ended
	Mar. 31, 2014
STOCK REPURCHASE PROGRAM	'
STOCK REPURCHASE PROGRAM	'
	NOTE 10 — STOCK REPURCHASE PROGRAM
	During the three months ended March 31, 2014, the Company repurchased approximately 200 thousand shares for approximately $13.0 million.  As of March 31, 2014, the Company has a remaining authorization to repurchase 3.8 million additional shares.  The timing of and total amount expended for the share repurchase depends upon market conditions.

STOCKBASED_COMPENSATION

STOCK-BASED COMPENSATION	3 Months Ended
	Mar. 31, 2014
STOCK-BASED COMPENSATION	'
STOCK-BASED COMPENSATION	'
	NOTE 11 — STOCK-BASED COMPENSATION
	The Company issues stock options and restricted stock units to employees under Stock Awards Plans approved by shareholders.  Stock options are issued to non-employee directors for their services as directors under Director Stock Option Plans approved by shareholders.  Options are awarded with the exercise price equal to the market price on the date of grant and generally become exercisable over three years and expire 10 years after grant.  Restricted stock units generally vest over three years.
	Compensation expense recorded attributable to stock options for the first three months of 2014 was approximately $8.4 million ($5.5 million after tax).  The income tax benefit related to this compensation expense was approximately $2.9 million.  Approximately $7.6 million of the compensation expense was recorded in selling, research & development and administrative expenses and the balance was recorded in cost of sales.  Compensation expense recorded attributable to stock options for the first three months of 2013 was approximately $6.5 million ($4.4 million after tax).  The income tax benefit related to this compensation expense was approximately $2.1 million.  Approximately $5.9 million of the compensation expense was recorded in selling, research & development and administrative expenses and the balance was recorded in cost of sales.
	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 was $14.84 and $10.07 per share in 2014 and 2013, respectively.  These values were estimated on the respective dates of grant using the Black-Scholes option-pricing model with the following weighted-average assumptions:
	Stock Awards Plans:
	Three months ended March 31,	2014		2013
	Dividend Yield	1.7	%	1.8	%
	Expected Stock Price Volatility	22.2	%	22.7	%
	Risk-free Interest Rate	2.3	%	1.2	%
	Expected Life of Option (years)	6.9		6.9
	There were no grants under the Director Stock Option Plan during the three months ended March 31, 2014 and 2013.
	A summary of option activity under the Company’s stock plans as of March 31, 2014, and changes during the three months then ended is presented below:
		Stock Awards Plans					Director Stock Option Plans
					Weighted Average				Weighted Average
		Shares			Exercise Price		Shares		Exercise Price
	Outstanding, January 1, 2014	7,815,932			$	41.26	313,834		$	48.85
	Granted	1,349,850			68		--		--
	Exercised	(216,498		)	33.82		--		--
	Forfeited or expired	(19,400		)	50.18		--		--
	Outstanding at March 31, 2014	8,929,884			$	45.47	313,834		$	48.85
	Exercisable at March 31, 2014	6,252,800			$	39.23	146,000		$	42.05
	Weighted-Average Remaining Contractual Term (Years):
	Outstanding at March 31, 2014	6.5					7.3
	Exercisable at March 31, 2014	5.3					5.9
	Aggregate Intrinsic Value ($000):
	Outstanding at March 31, 2014	$	186,827				$	5,415
	Exercisable at March 31, 2014	$	168,000				$	3,511
	Intrinsic Value of Options Exercised ($000) During the Three Months Ended:
	March 31, 2014	$	6,912				$	--
	March 31, 2013	$	16,515				$	--
	The fair value of shares vested during the three months ended March 31, 2014 and 2013 was $13.0 million and $12.1 million, respectively.  Cash received from option exercises was approximately $2.4 million and the actual tax benefit realized for the tax deduction from option exercises was approximately $7.8 million in the three months ended March 31, 2014.  As of March 31, 2014, the remaining valuation of stock option awards to be expensed in future periods was $21.0 million and the related weighted-average period over which it is expected to be recognized is 1.6 years.
	The fair value of restricted stock unit grants is the market price of the underlying shares on the grant date.  A summary of restricted stock unit activity as of March 31, 2014, and changes during the period then ended is presented below:
				Weighted-Average
		Shares		Grant-Date Fair Value
	Nonvested at January 1, 2014	25,681		$	53.49
	Granted	43,671		67.57
	Vested	(9,355	)	52.5
	Nonvested at March 31, 2014	59,997		$	63.9
	Compensation expense recorded attributable to restricted stock unit grants for the first three months of 2014 and 2013 was approximately $733 thousand and $416 thousand, respectively.  The fair value of units vested during the three months ended March 31, 2014 and 2013 was $491 thousand and $496 thousand, respectively.  The intrinsic value of units vested during the three months ended March 31, 2014 and 2013 was $613 thousand and $582 thousand, respectively.  As of March 31, 2014 there was $2.7 million of total unrecognized compensation cost relating to restricted stock unit awards which is expected to be recognized over a weighted-average period of 1.8 years.
	During the first quarter of 2014, the Company approved a new long-term incentive program for certain employees.  The program is based on the cumulative total shareholder return of our common stock during a three year performance period.  Total expense related to this program is expected to be approximately $1.2 million over the performance period, of which $159 thousand was recognized in the first quarter of 2014.

EARNINGS_PER_SHARE

EARNINGS PER SHARE	3 Months Ended
	Mar. 31, 2014
EARNINGS PER SHARE	'
EARNINGS PER SHARE	'
	NOTE 12 — EARNINGS PER SHARE
	AptarGroup’s authorized common stock consists of 199 million shares, having a par value of $.01 each.  Information related to the calculation of earnings per share is as follows:
		March 31, 2014				March 31, 2013
		Diluted		Basic		Diluted		Basic
	Consolidated operations
	Income available to common shareholders	$	48,389	$	48,389	$	40,029	$	40,029
	Average equivalent shares
	Shares of common stock	65,468		65,468		66,155		66,155
	Effect of dilutive stock based compensation
	Stock options	2,738		--		2,133		--
	Restricted stock	26		--		8		--
	Total average equivalent shares	68,232		65,468		68,296		66,155
	Net income per share	$	0.71	$	0.74	$	0.59	$	0.61

SEGMENT_INFORMATION

SEGMENT INFORMATION	3 Months Ended
	Mar. 31, 2014
SEGMENT INFORMATION	'
SEGMENT INFORMATION	'
	NOTE 13 — SEGMENT INFORMATION
	The Company operates in the packaging components industry, which includes the development, manufacture and sale of consumer product dispensing solutions.  The Company is organized into three reporting segments.  Operations that sell dispensing systems primarily to the personal care, beauty and home care markets form the Beauty + Home segment.  Operations that sell dispensing systems primarily to the prescription drug, consumer health care and injectables markets form the Pharma segment.  Operations that sell dispensing systems primarily to the food and beverage markets form the Food + Beverage segment.
	The accounting policies of the segments are the same as those described in Note 1, Summary of Significant Accounting Policies in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013.  Segment income is defined as earnings before net interest expense, certain corporate expenses, restructuring initiatives and related depreciation and income taxes.
	Financial information regarding the Company’s reportable segments is shown below:
	Three months ended March 31,	2014			2013
	Total Revenue:
	Beauty + Home	$	398,540		$	367,183
	Pharma	194,349			168,893
	Food + Beverage	90,626			85,333
	Total Revenue	$	683,515		$	621,409
	Less: Intersegment Sales:
	Beauty + Home	$	7,304		$	3,711
	Pharma	--			24
	Food + Beverage	160			41
	Total Intersegment Sales	$	7,464		$	3,776
	Net Sales:
	Beauty + Home	$	391,236		$	363,472
	Pharma	194,349			168,869
	Food + Beverage	90,466			85,292
	Net Sales	$	676,051		$	617,633
	Segment Income (1):
	Beauty + Home	$	27,781		$	24,415
	Pharma	52,482			45,980
	Food + Beverage	9,080			8,550
	Restructuring Initiatives and Related Depreciation	--			(4,526		)
	Corporate & Other	(11,798		)	(10,785		)
	Income before interest and taxes	$	77,545		$	63,634
	Interest expense, net	(3,865		)	(4,232		)
	Income before income taxes	$	73,680		$	59,402
	(1)                                 The Company evaluates performance of our business units and allocates resources based upon segment income. Segment income is defined as earnings before net interest expense, certain corporate expenses, restructuring initiatives and income taxes. Restructuring Initiatives and Related Depreciation includes the following income/(expense) items for the three months ended March 31, 2014 as follows:
	Three months ended March 31,	2014			2013
	European Restructuring Plan
	Depreciation	$	--		$	459
	Employee Severance and Other Costs	--			4,067
	Total Restructuring Initiatives and Related Depreciation Expense	$	--		$	4,526
	Restructuring Initiatives and Related Depreciation Expense by Segment
	Beauty + Home	$	--		$	4,526
	Total Restructuring Initiatives and Related Depreciation Expense	$	--		$	4,526

ACQUISITIONS

ACQUISITIONS	3 Months Ended
	Mar. 31, 2014
ACQUISITIONS	'
ACQUISITIONS	'
	NOTE 14 — ACQUISITIONS
	In December 2013, AptarGroup acquired a 20% non-controlling investment in Bapco Closures Holding Limited (Bapco) for approximately $5.2 million.  In addition to this equity stake, the Company secured an exclusive global license related to innovative closures sealing technology that provides package integrity and tamper evidence.  This investment is being accounted for under the equity method of accounting from the date of acquisition and since it does not have a material impact on the results of operations in 2014 or 2013, pro forma information is not presented.

RESTRUCTURING_INITIATIVES

RESTRUCTURING INITIATIVES	3 Months Ended
	Mar. 31, 2014
RESTRUCTURING INITIATIVES	'
RESTRUCTURING INITIATIVES	'
	NOTE 15 — RESTRUCTURING INITIATIVES
	in November 2012, the Company announced a plan to optimize certain capacity in Europe.  Due to increased production efficiencies and to better position the Company for future growth in Europe, AptarGroup transferred and consolidated production capacity involving twelve facilities.  Two facilities have closed impacting approximately 170 employees.  The locations involved in the plan are facilities serving the beauty, personal care, food, beverage, and consumer health care markets.  As of December 31, 2013, the plan was substantially complete.  The cumulative expense incurred was $19.5 million.  As of March 31, 2014 we have recorded the following activity associated with our European restructuring plan:
		Beginning		Net Charges for								Ending
		Reserve at		the Three Months								Reserve at
		12/31/13		Ended 3/31/14		Cash Paid			FX Impact			3/31/14
	Employee severance	$	2,521	$	--	$	(1,880	)	$	(1	)	$	640
	Other costs	1,735		--		(492		)	13			1,256
	Totals	$	4,256	$	--	$	(2,372	)	$	12		$	1,896

SUMMARY_OF_SIGNIFICANT_ACCOUNT1

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2014
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	'
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” or “Company” as used herein refer to AptarGroup, Inc. and our subsidiaries.  All significant intercompany accounts and transactions have been eliminated.
	In the opinion of management, the Unaudited Condensed Consolidated Financial Statements include all adjustments, consisting of only 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 Unaudited 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 disclosure normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been condensed or omitted pursuant to such rules and regulations, although the Company believes 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 the Company’s Annual Report on Form 10-K for the year ended December 31, 2013 but does not include all disclosures required by GAAP.  Accordingly, these Unaudited Condensed Consolidated Financial Statements and related notes should be read in conjunction with the Audited Consolidated Financial Statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013.  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 PRONOUNCEMENTS	'
	ADOPTION OF RECENT ACCOUNTING PRONOUNCEMENTS
	Changes to GAAP are established by the Financial Accounting Standards Board (“FASB”) in the form of accounting standards updates to the FASB’s Accounting Standards Codification.
	In July 2013, the FASB issued authoritative guidance on the presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. This standard requires an entity to present an unrecognized tax benefit, or a portion of an unrecognized tax benefit, in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward. The guidance is effective for the Company’s fiscal years beginning after December 15, 2013.  This standard did not impact our current year financial statements as this was already the Company’s existing reporting treatment.
	In March 2013, the FASB issued authoritative guidance which permits an entity to release cumulative translation adjustments into net income when a reporting entity (parent) ceases to have a controlling financial interest in a subsidiary or group of assets that is a business within a foreign entity. Accordingly, the cumulative translation adjustment should be released into net income only if the sale or transfer results in the complete or substantially complete liquidation of the foreign entity in which the subsidiary or group of assets had resided, or if a controlling financial interest is no longer held. The guidance is effective for the Company’s fiscal years beginning after December 15, 2013.  This standard has only a minimal impact on our current year financial statements.
	In February 2013, the FASB issued authoritative guidance that amends the presentation of accumulated other comprehensive income and clarifies how to report the effect of significant reclassifications out of accumulated other comprehensive income.  The guidance requires footnote disclosures regarding the changes in accumulated other comprehensive income by component and the line items affected in the statements of earnings.  The adoption of this standard had no impact on the Unaudited Condensed Consolidated Financial Statements other than disclosure.  Additional information can be found in Note 6 of the Unaudited Notes to the Consolidated Financial Statements.
	In January 2013, the FASB issued authoritative guidance requiring new asset and liability offsetting disclosures for derivatives, repurchase agreements and security lending transactions to the extent that they are offset in the financial statements or are subject to an enforceable master netting arrangement or similar agreement.  We do not have any repurchase agreements and do not participate in securities lending transactions.  Our derivative instruments are not offset in the financial statements. Accordingly, the adoption of this standard had no impact on the Unaudited Condensed Consolidated Financial Statements other than disclosure.  Additional information can be found in Note 7 of the Unaudited Notes to the Condensed Consolidated Financial Statements.
	Other accounting standards that have been issued by the FASB or other standards-setting bodies that do not require adoption until a future date are not expected to have a material impact on our Unaudited Condensed Consolidated Financial Statements upon adoption.
INCOME TAXES	'
	INCOME TAXES
	The Company computes taxes on income in accordance with the tax rules and regulations of the many taxing authorities where income is earned.  The income tax rates imposed by these taxing authorities may vary substantially.  Taxable income may differ from pretax income for financial accounting purposes.  To the extent that these differences create differences between the tax basis of an asset or liability and our reported amount in the financial statements, an appropriate provision for deferred income taxes is made.
	In our determination of which foreign earnings are permanently reinvested in foreign operations, the Company considers numerous factors, including the financial requirements of the U.S. parent company and those of our foreign subsidiaries, the U.S. funding needs for dividend payments and stock repurchases, and the tax consequences of remitting earnings to the U.S.  From this analysis, current year repatriation decisions are made in an attempt to provide a proper mix of debt and shareholder capital both within the U.S. and for non-U.S. operations.  The Company’s policy is to permanently reinvest our accumulated foreign earnings and only will make a distribution out of current year earnings to meet the cash needs at the parent company.  As such, the Company does not provide for taxes on earnings that are deemed to be permanently reinvested.  Since no distribution to the U.S. of foreign earnings is expected in 2014, the effective tax rate for 2014 includes no tax cost of repatriation.
	The Company provides a liability for the amount of tax benefits realized from uncertain tax positions.  This liability is provided whenever the Company determines that a tax benefit will not meet a more-likely-than-not threshold for recognition.  See Note 4 of the Unaudited Notes to the Condensed Consolidated Financial Statements for more information.

INVENTORIES_Tables

INVENTORIES (Tables)	3 Months Ended
	Mar. 31, 2014
INVENTORIES	'
Schedule of inventories, by component	'
		March 31,			December 31,
		2014			2013
	Raw materials	$	116,976		$	114,501
	Work in process	107,450			108,924
	Finished goods	142,723			137,591
	Total	367,149			361,016
	Less LIFO Reserve	(8,440		)	(7,857		)
	Total	$	358,709		$	353,159

GOODWILL_AND_OTHER_INTANGIBLE_1

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)	3 Months Ended
	Mar. 31, 2014
GOODWILL AND OTHER INTANGIBLE ASSETS	'
Schedule of changes in the carrying amount of goodwill	'
		Beauty +						Food +			Corporate
		Home			Pharma			Beverage			& Other			Total
	Goodwill	$	181,002		$	159,949		$	17,914		$	1,615		$	360,480
	Accumulated impairment losses	--			--			--			(1,615		)	(1,615		)
	Balance as of December 31, 2013	$	181,002		$	159,949		$	17,914		$	--		$	358,865
	Acquisition	--			--			--			--			--
	Foreign currency exchange effects	345			489			(18		)	--			816
	Goodwill	$	181,347		$	160,438		$	17,896		$	1,615		$	361,296
	Accumulated impairment losses	--			--			--			(1,615		)	(1,615		)
	Balance as of March 31, 2014	$	181,347		$	160,438		$	17,896		$	--		$	359,681
Summary of amortized intangible assets	'
				March 31, 2014									December 31, 2013
	Weighted Average			Gross									Gross
	Amortization			Carrying			Accumulated			Net			Carrying			Accumulated			Net
	Period (Years)			Amount			Amortization			Value			Amount			Amortization			Value
	Amortized intangible assets:
	Patents	7		$	20,210		$	(19,842	)	$	368		$	20,165		$	(19,732	)	$	433
	Acquired Technology	15		40,641			(4,742		)	35,899			40,546			(4,055		)	36,491
	License agreements and other	5		35,650			(22,953		)	12,697			35,259			(22,232		)	13,027
	Total intangible assets	10		$	96,501		$	(47,537	)	$	48,964		$	95,970		$	(46,019	)	$	49,951
Schedule of future estimated amortization expense	'
	2014	$	4,133	(remaining estimated amortization for 2014)
	2015	5,349
	2016	4,343
	2017	3,619
	2018 and thereafter	31,520

RETIREMENT_AND_DEFERRED_COMPEN1

RETIREMENT AND DEFERRED COMPENSATION PLANS (Tables)	3 Months Ended
	Mar. 31, 2014
RETIREMENT AND DEFERRED COMPENSATION PLANS	'
Components of Net Periodic Benefit Cost	'
		Domestic Plans						Foreign Plans
	Three months ended March 31,	2014			2013			2014			2013
	Service cost	$	2,011		$	2,225		$	1,079		$	969
	Interest cost	1,482			1,250			699			665
	Expected return on plan assets	(1,646		)	(1,414		)	(510		)	(452		)
	Amortization of net loss	717			1,434			313			352
	Amortization of prior service cost	--			1			81			93
	Net periodic benefit cost	$	2,564		$	3,496		$	1,662		$	1,627

ACCUMULATED_OTHER_COMPREHENSIV1

ACCUMULATED OTHER COMPREHENSIVE INCOME (Tables)	3 Months Ended
	Mar. 31, 2014
ACCUMULATED OTHER COMPREHENSIVE INCOME	'
Changes in Accumulated Other Comprehensive Income by Component	'
		Foreign				Defined Benefit				Other			Total
		Currency				Pension Plans
	Balance – December 31, 2012	$		120,097		$		(59,248	)	$	(166	)	$	60,683
	Other comprehensive income before reclassifications	(35,614			)	--				--			(35,614		)
	Amounts reclassified from accumulated other comprehensive income	--				1,179				15			1,194
	Net current-period other comprehensive income	(35,614			)	1,179				15			(34,420		)
	Balance - March 31, 2013	$		84,483		$		(58,069	)	$	(151	)	$	26,263
	Balance – December 31, 2013	$		149,965		$		(40,093	)	$	(121	)	$	109,751
	Other comprehensive income before reclassifications	913				--				--			913
	Amounts reclassified from accumulated other comprehensive income	(340			)	718				6			384
	Net current-period other comprehensive income	573				718				6			1,297
	Balance - March 31, 2014	$		150,538		$		(39,375	)	$	(115	)	$	111,048
Reclassifications Out of Accumulated Other Comprehensive Income	'
	Details about Accumulated Other	Amount Reclassified from Accumulated						Affected Line in the Statement
	Comprehensive Income Components	Other Comprehensive Income						Where Net Income is Presented
	Three months ended March 31,	2014			2013
	Defined Benefit Pension Plans
	Amortization of net loss	$	1,030		$	1,786		(a)
	Amortization of prior service cost	81			94			(a)
		1,111			1,880			Total before tax
		(393		)	(701		)	Tax benefit
		$	718		$	1,179		Net of tax
	Foreign Currency
	Foreign Currency Gain	(340		)	--			Miscellaneous, net
		(340		)	--			Total before tax
		--			--			Tax benefit
		$	(340	)	$	--		Net of tax
	Other
	Changes in treasury locks	9			23			Interest Expense
		9			23			Total before tax
		(3		)	(8		)	Tax benefit
		$	6		$	15		Net of tax
	Total reclassifications for the period	$	384		$	1,194
	(a)         These accumulated other comprehensive income components are included in the computation of net periodic benefit costs, net of tax (see Note 5 — Retirement and Deferred Compensation Plans for additional details).

DERIVATIVE_INSTRUMENTS_AND_HED1

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)	3 Months Ended
	Mar. 31, 2014
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	'
Schedule of Fair Value of Derivative Instruments in the Condensed Consolidated Balance Sheets	'
	Fair Value of Derivative Instruments in the Condensed Consolidated Balance Sheets as of March 31, 2014
	and December 31, 2013
	Derivative Contracts Not Designated	Balance Sheet		March 31,			December
	as Hedging Instruments	Location		2014			31, 2013
	Derivative Assets
	Foreign Exchange Contracts	Prepaid and other		$	1,124		$	3,003
	Foreign Exchange Contracts	Miscellaneous Other Assets		62			985
				$	1,186		$	3,988
	Derivative Liabilities
	Foreign Exchange Contracts	Accounts payable and accrued liabilities		$	1,168		$	522
	Foreign Exchange Contracts	Deferred and other non-current liabilities		75			110
				$	1,243		$	632
Schedule of Effect of Derivative Instruments on the Condensed Consolidated Statements of Income	'
	The Effect of Derivative Instruments on the Condensed Consolidated Statements of Income
	for the Quarters Ended March 31, 2014 and March 31, 2013
	Derivatives Not Designated as	Location of Gain or (Loss) Recognized in		Amount of Gain or (Loss)
	Hedging Instruments	Income on Derivative		Recognized in Income on
				Derivative
				2014			2013
	Foreign Exchange Contracts	Other Income (Expense) Miscellaneous, net		$	(159	)	$	(2,598	)
				$	(159	)	$	(2,598	)
Schedule of offsetting derivative assets and liabilities	'
							Net Amounts			Gross Amounts not Offset in the
					Gross Amounts		Presented in			Statement of Financial Position
		Gross			Offset in the		the Statement of			Financial	Cash Collateral	Net
		Amount			Financial Position		Financial Position			Instruments	Received	Amount
	Description
	March 31, 2014
	Derivative Assets	$	1,186		--		$	1,186		--	--	$	1,186
	Total Assets	$	1,186		--		$	1,186		--	--	$	1,186
	Derivative Liabilities	$	1,243		--		$	1,243		--	--	$	1,243
	Total Liabilities	$	1,243		--		$	1,243		--	--	$	1,243
	December 31, 2013
	Derivative Assets	$	3,988		--		$	3,988		--	--	$	3,988
	Total Assets	$	3,988		--		$	3,988		--	--	$	3,988
	Derivative Liabilities	$	632		--		$	632		--	--	$	632
	Total Liabilities	$	632		--		$	632		--	--	$	632

FAIR_VALUE_Tables

FAIR VALUE (Tables)	3 Months Ended
	Mar. 31, 2014
FAIR VALUE	'
Schedule of fair values of financial assets and liabilities	'
	As of March 31, 2014, the fair values of our financial assets and liabilities were categorized as follows:
		Total		Level 1		Level 2		Level 3
	Assets
	Forward exchange contracts (a)	$	1,186	$	--	$	1,186	$	--
	Total assets at fair value	$	1,186	$	--	$	1,186	$	--
	Liabilities
	Forward exchange contracts (a)	$	1,243	$	--	$	1,243	$	--
	Total liabilities at fair value	$	1,243	$	--	$	1,243	$	--
	As of December 31, 2013, the fair values of our financial assets and liabilities were categorized as follows:
		Total		Level 1		Level 2		Level 3
	Assets
	Forward exchange contracts (a)	$	3,988	$	--	$	3,988	$	--
	Total assets at fair value	$	3,988	$	--	$	3,988	$	--
	Liabilities
	Forward exchange contracts (a)	$	632	$	--	$	632	$	--
	Total liabilities at fair value	$	632	$	--	$	632	$	--
	(a)   Market approach valuation technique based on observable market transactions of spot and forward rates.

STOCKBASED_COMPENSATION_Tables

STOCK-BASED COMPENSATION (Tables)	3 Months Ended
	Mar. 31, 2014
STOCK-BASED COMPENSATION	'
Weighted-average assumptions used to estimate fair value of stock options granted	'
	Stock Awards Plans:
	Three months ended March 31,	2014		2013
	Dividend Yield	1.7	%	1.8	%
	Expected Stock Price Volatility	22.2	%	22.7	%
	Risk-free Interest Rate	2.3	%	1.2	%
	Expected Life of Option (years)	6.9		6.9
Summary of option activity	'
		Stock Awards Plans					Director Stock Option Plans
					Weighted Average				Weighted Average
		Shares			Exercise Price		Shares		Exercise Price
	Outstanding, January 1, 2014	7,815,932			$	41.26	313,834		$	48.85
	Granted	1,349,850			68		--		--
	Exercised	(216,498		)	33.82		--		--
	Forfeited or expired	(19,400		)	50.18		--		--
	Outstanding at March 31, 2014	8,929,884			$	45.47	313,834		$	48.85
	Exercisable at March 31, 2014	6,252,800			$	39.23	146,000		$	42.05
	Weighted-Average Remaining Contractual Term (Years):
	Outstanding at March 31, 2014	6.5					7.3
	Exercisable at March 31, 2014	5.3					5.9
	Aggregate Intrinsic Value ($000):
	Outstanding at March 31, 2014	$	186,827				$	5,415
	Exercisable at March 31, 2014	$	168,000				$	3,511
	Intrinsic Value of Options Exercised ($000) During the Three Months Ended:
	March 31, 2014	$	6,912				$	--
	March 31, 2013	$	16,515				$	--
Summary of restricted stock unit activity	'
				Weighted-Average
		Shares		Grant-Date Fair Value
	Nonvested at January 1, 2014	25,681		$	53.49
	Granted	43,671		67.57
	Vested	(9,355	)	52.5
	Nonvested at March 31, 2014	59,997		$	63.9

EARNINGS_PER_SHARE_Tables

EARNINGS PER SHARE (Tables)	3 Months Ended
	Mar. 31, 2014
EARNINGS PER SHARE	'
Information related to the calculation of earnings per share	'
		March 31, 2014				March 31, 2013
		Diluted		Basic		Diluted		Basic
	Consolidated operations
	Income available to common shareholders	$	48,389	$	48,389	$	40,029	$	40,029
	Average equivalent shares
	Shares of common stock	65,468		65,468		66,155		66,155
	Effect of dilutive stock based compensation
	Stock options	2,738		--		2,133		--
	Restricted stock	26		--		8		--
	Total average equivalent shares	68,232		65,468		68,296		66,155
	Net income per share	$	0.71	$	0.74	$	0.59	$	0.61

SEGMENT_INFORMATION_Tables

SEGMENT INFORMATION (Tables)	3 Months Ended
	Mar. 31, 2014
SEGMENT INFORMATION	'
Financial information regarding the Company's reportable segments	'
	Three months ended March 31,	2014			2013
	Total Revenue:
	Beauty + Home	$	398,540		$	367,183
	Pharma	194,349			168,893
	Food + Beverage	90,626			85,333
	Total Revenue	$	683,515		$	621,409
	Less: Intersegment Sales:
	Beauty + Home	$	7,304		$	3,711
	Pharma	--			24
	Food + Beverage	160			41
	Total Intersegment Sales	$	7,464		$	3,776
	Net Sales:
	Beauty + Home	$	391,236		$	363,472
	Pharma	194,349			168,869
	Food + Beverage	90,466			85,292
	Net Sales	$	676,051		$	617,633
	Segment Income (1):
	Beauty + Home	$	27,781		$	24,415
	Pharma	52,482			45,980
	Food + Beverage	9,080			8,550
	Restructuring Initiatives and Related Depreciation	--			(4,526		)
	Corporate & Other	(11,798		)	(10,785		)
	Income before interest and taxes	$	77,545		$	63,634
	Interest expense, net	(3,865		)	(4,232		)
	Income before income taxes	$	73,680		$	59,402
	(1)                                 The Company evaluates performance of our business units and allocates resources based upon segment income. Segment income is defined as earnings before net interest expense, certain corporate expenses, restructuring initiatives and income taxes. Restructuring Initiatives and Related Depreciation includes the following income/(expense) items for the three months ended March 31, 2014 as follows:
Restructuring Initiatives and Related Depreciation Expense	'
	Three months ended March 31,	2014			2013
	European Restructuring Plan
	Depreciation	$	--		$	459
	Employee Severance and Other Costs	--			4,067
	Total Restructuring Initiatives and Related Depreciation Expense	$	--		$	4,526
	Restructuring Initiatives and Related Depreciation Expense by Segment
	Beauty + Home	$	--		$	4,526
	Total Restructuring Initiatives and Related Depreciation Expense	$	--		$	4,526

RESTRUCTURING_INITIATIVES_Tabl

RESTRUCTURING INITIATIVES (Tables) (European restructuring plan)	3 Months Ended
	Mar. 31, 2014
European restructuring plan	'
Restructuring initiatives	'
Activity associated with the entity's restructuring initiatives	'
		Beginning		Net Charges for								Ending
		Reserve at		the Three Months								Reserve at
		12/31/13		Ended 3/31/14		Cash Paid			FX Impact			3/31/14
	Employee severance	$	2,521	$	--	$	(1,880	)	$	(1	)	$	640
	Other costs	1,735		--		(492		)	13			1,256
	Totals	$	4,256	$	--	$	(2,372	)	$	12		$	1,896

SUMMARY_OF_SIGNIFICANT_ACCOUNT2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014
INCOME TAXES	'
Tax cost of repatriation included in effective tax rate	$0
Expected distribution of foreign earnings	$0

INVENTORIES_Details

INVENTORIES (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
INVENTORIES	'	'
Inventories accounted for by using the LIFO method (as a percent)	19.00%	20.00%
Inventories, by component	'	'
Raw materials	$116,976	$114,501
Work in process	107,450	108,924
Finished goods	142,723	137,591
Total	367,149	361,016
Less LIFO reserve	-8,440	-7,857
Total	$358,709	$353,159

GOODWILL_AND_OTHER_INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLE ASSETS (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Changes in the carrying amount of goodwill	'	'
Goodwill	$361,296	$360,480
Accumulated impairment losses	-1,615	-1,615
Goodwill, balance at the beginning of the period	358,865	'
Foreign currency exchange effects	816	'
Goodwill, balance at the end of the period	359,681	'
Operating segment | Beauty + Home	'	'
Changes in the carrying amount of goodwill	'	'
Goodwill	181,347	181,002
Goodwill, balance at the beginning of the period	181,002	'
Foreign currency exchange effects	345	'
Goodwill, balance at the end of the period	181,347	'
Operating segment | Pharma	'	'
Changes in the carrying amount of goodwill	'	'
Goodwill	160,438	159,949
Goodwill, balance at the beginning of the period	159,949	'
Foreign currency exchange effects	489	'
Goodwill, balance at the end of the period	160,438	'
Operating segment | Food + Beverage	'	'
Changes in the carrying amount of goodwill	'	'
Goodwill	17,896	17,914
Goodwill, balance at the beginning of the period	17,914	'
Foreign currency exchange effects	-18	'
Goodwill, balance at the end of the period	17,896	'
Corporate Non-Segment	'	'
Changes in the carrying amount of goodwill	'	'
Goodwill	1,615	1,615
Accumulated impairment losses	($1,615)	($1,615)

GOODWILL_AND_OTHER_INTANGIBLE_3

GOODWILL AND OTHER INTANGIBLE ASSETS (Details 2) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
Amortized intangible assets:	'	'	'
Gross Carrying Amount	$96,501	'	$95,970
Accumulated Amortization	-47,537	'	-46,019
Net Value	48,964	'	49,951
Aggregate amortization expense	1,398	1,237	'
Future estimated amortization expense	'	'	'
2014	4,133	'	'
2015	5,349	'	'
2016	4,343	'	'
2017	3,619	'	'
2018 and thereafter	31,520	'	'
Weighted Average	'	'	'
Amortized intangible assets:	'	'	'
Amortization Period	'10 years	'	'
Patents	'	'	'
Amortized intangible assets:	'	'	'
Gross Carrying Amount	20,210	'	20,165
Accumulated Amortization	-19,842	'	-19,732
Net Value	368	'	433
Patents | Weighted Average	'	'	'
Amortized intangible assets:	'	'	'
Amortization Period	'7 years	'	'
Acquired Technology	'	'	'
Amortized intangible assets:	'	'	'
Gross Carrying Amount	40,641	'	40,546
Accumulated Amortization	-4,742	'	-4,055
Net Value	35,899	'	36,491
Acquired Technology | Weighted Average	'	'	'
Amortized intangible assets:	'	'	'
Amortization Period	'15 years	'	'
License agreements and other	'	'	'
Amortized intangible assets:	'	'	'
Gross Carrying Amount	35,650	'	35,259
Accumulated Amortization	-22,953	'	-22,232
Net Value	$12,697	'	$13,027
License agreements and other | Weighted Average	'	'	'
Amortized intangible assets:	'	'	'
Amortization Period	'5 years	'	'

INCOME_TAXES_UNCERTAINTIES_Det

INCOME TAXES UNCERTAINTIES (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
INCOME TAX UNCERTAINTIES	'	'
Income tax uncertainties	$7.20	$8
Change in income tax uncertainties	0.8	'
Amount of income tax uncertainties that, if recognized, would impact the effective tax rate	7	7.8
Decrease in liability for uncertain tax positions, high end of range	$5	'
Number of months, in which liability for uncertain tax positions will decrease	'12 months	'

RETIREMENT_AND_DEFERRED_COMPEN2

RETIREMENT AND DEFERRED COMPENSATION PLANS (Details) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Domestic Plans	'	'
Components of net periodic benefit cost:	'	'
Service cost	$2,011,000	$2,225,000
Interest cost	1,482,000	1,250,000
Expected return on plan assets	-1,646,000	-1,414,000
Amortization of net loss	717,000	1,434,000
Amortization of prior service cost	'	1,000
Net periodic benefit cost	2,564,000	3,496,000
Expected contribution in current fiscal year	10,000,000	'
Defined Benefit Plan, Contributions by Employer	0	'
Foreign Plans	'	'
Components of net periodic benefit cost:	'	'
Service cost	1,079,000	969,000
Interest cost	699,000	665,000
Expected return on plan assets	-510,000	-452,000
Amortization of net loss	313,000	352,000
Amortization of prior service cost	81,000	93,000
Net periodic benefit cost	1,662,000	1,627,000
Expected contribution in current fiscal year	5,600,000	'
Defined Benefit Plan, Contributions by Employer	$800,000	'

ACCUMULATED_OTHER_COMPREHENSIV2

ACCUMULATED OTHER COMPREHENSIVE INCOME (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Accumulated other comprehensive income activity	'	'
Balance at the beginning of the period	$109,751	$60,683
Other comprehensive income before reclassifications	913	-35,614
Amounts reclassified from accumulated other comprehensive income	384	1,194
Net current-period other comprehensive income	1,297	-34,420
Balance at the end of the period	111,048	26,263
Foreign Currency	'	'
Accumulated other comprehensive income activity	'	'
Balance at the beginning of the period	149,965	120,097
Other comprehensive income before reclassifications	913	-35,614
Amounts reclassified from accumulated other comprehensive income	-340	'
Net current-period other comprehensive income	573	-35,614
Balance at the end of the period	150,538	84,483
Defined Benefit Pension Plans	'	'
Accumulated other comprehensive income activity	'	'
Balance at the beginning of the period	-40,093	-59,248
Amounts reclassified from accumulated other comprehensive income	718	1,179
Net current-period other comprehensive income	718	1,179
Balance at the end of the period	-39,375	-58,069
Other	'	'
Accumulated other comprehensive income activity	'	'
Balance at the beginning of the period	-121	-166
Amounts reclassified from accumulated other comprehensive income	6	15
Net current-period other comprehensive income	6	15
Balance at the end of the period	($115)	($151)

ACCUMULATED_OTHER_COMPREHENSIV3

ACCUMULATED OTHER COMPREHENSIVE INCOME (Details 2) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Amount Reclassified from Accumulated Other Comprehensive Income	'	'
Interest expense	$4,881	$5,081
Miscellaneous, net	-372	706
Total before tax	-73,680	-59,402
Tax benefit	25,272	19,424
Total reclassifications for the period	-48,389	-40,029
Amount Reclassified from Accumulated Other Comprehensive Income	'	'
Amount Reclassified from Accumulated Other Comprehensive Income	'	'
Total reclassifications for the period	384	1,194
Foreign Currency | Amount Reclassified from Accumulated Other Comprehensive Income	'	'
Amount Reclassified from Accumulated Other Comprehensive Income	'	'
Miscellaneous, net	-340	'
Total before tax	-340	'
Total reclassifications for the period	-340	'
Defined Benefit Pension Plans | Amount Reclassified from Accumulated Other Comprehensive Income	'	'
Amount Reclassified from Accumulated Other Comprehensive Income	'	'
Amortization of net loss	1,030	1,786
Amortization of prior service cost	81	94
Total before tax	1,111	1,880
Tax benefit	-393	-701
Total reclassifications for the period	718	1,179
Other | Amount Reclassified from Accumulated Other Comprehensive Income	'	'
Amount Reclassified from Accumulated Other Comprehensive Income	'	'
Total before tax	9	23
Tax benefit	-3	-8
Total reclassifications for the period	6	15
Other | Treasury locks | Amount Reclassified from Accumulated Other Comprehensive Income	'	'
Amount Reclassified from Accumulated Other Comprehensive Income	'	'
Interest expense	$9	$23

DERIVATIVE_INSTRUMENTS_AND_HED2

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	'	'
Aggregate amount of forward exchange contracts, outstanding	$146,000,000	'
Fair Value of Derivative Instruments	'	'
Derivative Assets	1,186,000	3,988,000
Derivative Liabilities	1,243,000	632,000
Derivative Contracts Not Designated as Hedging Instruments	'	'
Fair Value of Derivative Instruments	'	'
Derivative Assets	1,186,000	3,988,000
Derivative Liabilities	1,243,000	632,000
Derivative Contracts Not Designated as Hedging Instruments | Foreign Exchange Contracts | Prepaid and other	'	'
Fair Value of Derivative Instruments	'	'
Derivative Assets	1,124,000	3,003,000
Derivative Contracts Not Designated as Hedging Instruments | Foreign Exchange Contracts | Miscellaneous Other Assets	'	'
Fair Value of Derivative Instruments	'	'
Derivative Assets	62,000	985,000
Derivative Contracts Not Designated as Hedging Instruments | Foreign Exchange Contracts | Accounts payable and accrued liabilities	'	'
Fair Value of Derivative Instruments	'	'
Derivative Liabilities	1,168,000	522,000
Derivative Contracts Not Designated as Hedging Instruments | Foreign Exchange Contracts | Deferred and other non-current liabilities	'	'
Fair Value of Derivative Instruments	'	'
Derivative Liabilities	$75,000	$110,000

DERIVATIVE_INSTRUMENTS_AND_HED3

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Details 2) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Derivative instruments, gain or (loss)	'	'
Foreign Exchange Contract, Amount of Gain (Loss) Recognized in Income on Derivative, not designated as hedging instruments	($159)	($2,598)
Foreign Exchange Contracts	'	'
Derivative instruments, gain or (loss)	'	'
Foreign Exchange Contract, Amount of Gain (Loss) Recognized in Income on Derivative, not designated as hedging instruments	($159)	($2,598)

DERIVATIVE_INSTRUMENTS_AND_HED4

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Details 3) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Derivative Assets	'	'
Gross Amount	$1,186	$3,988
Net Amounts Presented in the Statement of Financial Position	1,186	3,988
Net Amount	1,186	3,988
Derivative Liabilities	'	'
Gross Amount	1,243	632
Net Amounts Presented in the Statement of Financial Position	1,243	632
Net Amount	$1,243	$632

FAIR_VALUE_Details

FAIR VALUE (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
Liabilities	'	'
Fair value of long-term obligations	$368,000,000	$363,000,000
Assets and liabilities measured at fair value on recurring basis | Total	'	'
Assets	'	'
Forward exchange contracts, assets	1,186,000	3,988,000
Total assets at fair value	1,186,000	3,988,000
Liabilities	'	'
Forward exchange contracts, liabilities	1,243,000	632,000
Total liabilities at fair value	1,243,000	632,000
Assets and liabilities measured at fair value on recurring basis | Level 2	'	'
Assets	'	'
Forward exchange contracts, assets	1,186,000	3,988,000
Total assets at fair value	1,186,000	3,988,000
Liabilities	'	'
Forward exchange contracts, liabilities	1,243,000	632,000
Total liabilities at fair value	$1,243,000	$632,000

COMMITMENTS_AND_CONTINGENCIES_

COMMITMENTS AND CONTINGENCIES (Details) (USD $)	3 Months Ended
	Mar. 31, 2014
Infringement of patent	'
Commitments and contingencies	'
Amount of damage assessed on infringement of patents owned by the counterparty within the United States	$0
Indemnification agreements	'
Commitments and contingencies	'
Liabilities recorded under indemnification agreements	$0

STOCK_REPURCHASE_PROGRAM_Detai

STOCK REPURCHASE PROGRAM (Details) (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
STOCK REPURCHASE PROGRAM	'	'
Number of shares repurchased	200,000	'
Aggregate amount of share repurchases (in dollars)	$12,999	$10,768
Remaining authorization to repurchase additional shares	3,800,000	'

STOCKBASED_COMPENSATION_Detail

STOCK-BASED COMPENSATION (Details) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
STOCK-BASED COMPENSATION	'	'
Proceeds from stock option exercises	$7,770,000	$19,540,000
Stock options	'	'
STOCK-BASED COMPENSATION	'	'
Award vesting period	'3 years	'
Expiration period	'10 years	'
Compensation expense	8,400,000	6,500,000
Compensation expense, net of tax	5,500,000	4,400,000
Income tax benefit related to compensation expense	2,900,000	2,100,000
Weighted-average fair value of stock options granted (in dollars per share)	$14.84	$10.07
Fair value of shares vested	13,000,000	12,100,000
Proceeds from stock option exercises	2,400,000	'
Actual tax benefit realized for the tax deduction from option exercises	7,800,000	'
Unrecognized compensation cost expected to be recognized in future periods	21,000,000	'
Weighted-average period over which compensation cost is expected to be recognized	'1 year 7 months 6 days	'
Stock options | Selling, research & development and administrative expenses	'	'
STOCK-BASED COMPENSATION	'	'
Compensation expense	7,600,000	5,900,000
Stock Awards Plans | Stock options	'	'
Assumptions used to estimate fair value of stock options granted	'	'
Dividend Yield (as a percent)	1.70%	1.80%
Expected Stock Price Volatility (as a percent)	22.20%	22.70%
Risk-free Interest Rate (as a percent)	2.30%	1.20%
Expected Life of Option	'6 years 10 months 24 days	'6 years 10 months 24 days
Stock options activity	'	'
Outstanding at the beginning of the period (in shares)	7,815,932	'
Granted (in shares)	1,349,850	'
Exercised (in shares)	-216,498	'
Forfeited or expired (in shares)	-19,400	'
Outstanding at the end of the period (in shares)	8,929,884	'
Exercisable at the end of the period (in shares)	6,252,800	'
Weighted Average Exercise Price	'	'
Outstanding at the beginning of the period (in dollars per share)	$41.26	'
Granted (in dollars per share)	$68	'
Exercised (in dollars per share)	$33.82	'
Forfeited or expired (in dollars per share)	$50.18	'
Outstanding at the end of the period (in dollars per share)	$45.47	'
Exercisable at the end of the period (in dollars per share)	$39.23	'
Weighted-Average Remaining Contractual Term (Years):	'	'
Outstanding at the end of the period	'6 years 6 months	'
Exercisable at the end of the period	'5 years 3 months 18 days	'
Aggregate Intrinsic Value:	'	'
Outstanding at the end of the period	186,827,000	'
Exercisable at the end of the period	168,000,000	'
Intrinsic Value of Options Exercised	6,912,000	16,515,000
Stock Awards Plans | Restricted stock units	'	'
STOCK-BASED COMPENSATION	'	'
Award vesting period	'3 years	'
Compensation expense	733,000	416,000
Unrecognized compensation cost expected to be recognized in future periods	2,700,000	'
Weighted-average period over which compensation cost is expected to be recognized	'1 year 9 months 18 days	'
Fair value of units vested	491,000	496,000
Intrinsic value of units vested	613,000	582,000
Restricted stock unit activity	'	'
Balance at the beginning of the period (in shares)	25,681,000	'
Granted (in shares)	43,671,000	'
Vested (in shares)	-9,355,000	'
Balance at the end of the period (in shares)	59,997,000	'
Weighted-Average Grant-Date Fair Value	'	'
Nonvested at the beginning of the period (in dollars per share)	$53.49	'
Granted (in dollars per share)	$67.57	'
Vested (in dollars per share)	$52.50	'
Nonvested at the end of the period (in dollars per share)	$63.90	'
Director Stock Option Plans | Stock options	'	'
Stock options activity	'	'
Outstanding at the beginning of the period (in shares)	313,834	'
Granted (in shares)	0	0
Outstanding at the end of the period (in shares)	313,834	'
Exercisable at the end of the period (in shares)	146,000	'
Weighted Average Exercise Price	'	'
Outstanding at the beginning of the period (in dollars per share)	$48.85	'
Outstanding at the end of the period (in dollars per share)	$48.85	'
Exercisable at the end of the period (in dollars per share)	$42.05	'
Weighted-Average Remaining Contractual Term (Years):	'	'
Outstanding at the end of the period	'7 years 3 months 18 days	'
Exercisable at the end of the period	'5 years 10 months 24 days	'
Aggregate Intrinsic Value:	'	'
Outstanding at the end of the period	5,415,000	'
Exercisable at the end of the period	3,511,000	'
New long-term incentive program	'	'
STOCK-BASED COMPENSATION	'	'
Compensation expense	159,000	'
Performance period used to measure cumulative total shareholder return of common stock	'3 years	'
Expected total expense related to program over the performance period	$1,200,000	'

EARNINGS_PER_SHARE_Details

EARNINGS PER SHARE (Details) (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
EARNINGS PER SHARE	'	'	'
Authorized common stock (in shares)	199,000,000	'	199,000,000
Common stock, par value (in dollars per share)	$0.01	'	$0.01
Diluted	'	'	'
Income available to common shareholders (in dollars)	$48,389	$40,029	'
Shares of common stock	65,468,000	66,155,000	'
Total average equivalent shares	68,232,000	68,296,000	'
Net income per share, diluted (in dollars per share)	$0.71	$0.59	'
Basic	'	'	'
Income available to common shareholders (in dollars)	$48,389	$40,029	'
Shares of common stock	65,468,000	66,155,000	'
Net income per share, basic (in dollars per share)	$0.74	$0.61	'
Stock options	'	'	'
Diluted	'	'	'
Effect of dilutive stock based compensation (in shares)	2,738,000	2,133,000	'
Restricted stock	'	'	'
Diluted	'	'	'
Effect of dilutive stock based compensation (in shares)	26,000	8,000	'

SEGMENT_INFORMATION_Details

SEGMENT INFORMATION (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
	segment
SEGMENT INFORMATION	'	'
Number of reportable segments	3	'
Financial information regarding the Company's reportable segments	'	'
Net Sales	$676,051	$617,633
Income before interest and taxes	77,545	63,634
Interest expense, net	-3,865	-4,232
Income before Income Taxes	73,680	59,402
Restructuring Initiatives and Related Depreciation Expense by Segment	'	'
Employee Severance and Other Costs	'	4,067
Total Restructuring Initiatives and Related Depreciation expense	'	4,526
Restructuring Initiatives	'	'
Financial information regarding the Company's reportable segments	'	'
Income before interest and taxes	'	-4,526
European Restructuring Plan	'	'
Restructuring Initiatives and Related Depreciation Expense by Segment	'	'
Depreciation	'	459
Employee Severance and Other Costs	'	4,067
Beauty + Home	'	'
Financial information regarding the Company's reportable segments	'	'
Net Sales	391,236	363,472
Income before interest and taxes	27,781	24,415
Beauty + Home | Restructuring	'	'
Restructuring Initiatives and Related Depreciation Expense by Segment	'	'
Total Restructuring Initiatives and Related Depreciation expense	'	4,526
Pharma	'	'
Financial information regarding the Company's reportable segments	'	'
Net Sales	194,349	168,869
Income before interest and taxes	52,482	45,980
Food + Beverage	'	'
Financial information regarding the Company's reportable segments	'	'
Net Sales	90,466	85,292
Income before interest and taxes	9,080	8,550
Corporate & Other	'	'
Financial information regarding the Company's reportable segments	'	'
Income before interest and taxes	-11,798	-10,785
Operating segment	'	'
Financial information regarding the Company's reportable segments	'	'
Net Sales	683,515	621,409
Operating segment | Beauty + Home	'	'
Financial information regarding the Company's reportable segments	'	'
Net Sales	398,540	367,183
Operating segment | Pharma	'	'
Financial information regarding the Company's reportable segments	'	'
Net Sales	194,349	168,893
Operating segment | Food + Beverage	'	'
Financial information regarding the Company's reportable segments	'	'
Net Sales	90,626	85,333
Intersegment	'	'
Financial information regarding the Company's reportable segments	'	'
Net Sales	7,464	3,776
Intersegment | Beauty + Home	'	'
Financial information regarding the Company's reportable segments	'	'
Net Sales	7,304	3,711
Intersegment | Pharma	'	'
Financial information regarding the Company's reportable segments	'	'
Net Sales	'	24
Intersegment | Food + Beverage	'	'
Financial information regarding the Company's reportable segments	'	'
Net Sales	$160	$41

ACQUISITIONS_Details

ACQUISITIONS (Details) (Bapco, USD $)	1 Months Ended
In Millions, unless otherwise specified	Dec. 31, 2013
Bapco	'
Acquisitions	'
Percentage of interest acquired	20.00%
Payment to acquire business	$5.20

RESTRUCTURING_INITIATIVES_Deta

RESTRUCTURING INITIATIVES (Details) (European Restructuring Plan, USD $)	1 Months Ended	3 Months Ended
	Nov. 30, 2012	Mar. 31, 2014
	item
Restructuring initiatives	'	'
Number of facilities involved in restructuring plan	12	'
Number of facilities closed	2	'
Number of employees impacted by closure of facilities	170	'
Cumulative expense incurred to date	'	$19,500,000
Restructuring reserve	'	'
Restructuring reserve, balance at the beginning of the period	'	4,256,000
Cash Paid	'	-2,372,000
FX Impact	'	12,000
Restructuring reserve, balance at the end of the period	'	1,896,000
Employee severance	'	'
Restructuring reserve	'	'
Restructuring reserve, balance at the beginning of the period	'	2,521,000
Cash Paid	'	-1,880,000
FX Impact	'	-1,000
Restructuring reserve, balance at the end of the period	'	640,000
Other costs	'	'
Restructuring reserve	'	'
Restructuring reserve, balance at the beginning of the period	'	1,735,000
Cash Paid	'	-492,000
FX Impact	'	13,000
Restructuring reserve, balance at the end of the period	'	$1,256,000