AptarGroup (ATR) 10-Q 4 Nov 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Oct. 31, 2016
Document and Entity Information
Entity Registrant Name	APTARGROUP INC
Entity Central Index Key	896,622
Document Type	10-Q
Document Period End Date	Sep. 30, 2016
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		62,691,462
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
Net Sales	$ 589,729	$ 586,290	$ 1,792,066	$ 1,770,376
Operating Expenses:
Cost of sales (exclusive of depreciation and amortization shown below)	381,041	381,424	1,145,107	1,142,681
Selling, research & development and administrative	86,695	81,370	285,841	266,869
Depreciation and amortization	39,667	35,439	115,944	103,664
Total Operating Expenses	507,403	498,233	1,546,892	1,513,214
Operating Income	82,326	88,057	245,174	257,162
Other (Expense) Income:
Interest expense	(8,753)	(8,948)	(26,547)	(25,446)
Interest income	715	1,762	1,759	4,598
Equity in results of affiliates	(15)	(209)	(187)	(735)
Miscellaneous, net	728	(1,285)	(995)	(2,752)
Total Other Income (Expense)	(7,325)	(8,680)	(25,970)	(24,335)
Income before Income Taxes	75,001	79,377	219,204	232,827
Provision for Income Taxes	21,901	26,115	63,187	76,925
Net Income	53,100	53,262	156,017	155,902
Net (Income) Loss Attributable to Noncontrolling Interests	(2)	(15)	(8)	55
Net Income Attributable to AptarGroup, Inc.	$ 53,098	$ 53,247	$ 156,009	$ 155,957
Net Income Attributable to AptarGroup, Inc. Per Common Share:
Basic (in dollars per share)	$ 0.84	$ 0.85	$ 2.48	$ 2.49
Diluted (in dollars per share)	$ 0.82	$ 0.83	$ 2.40	$ 2.41
Average number of shares outstanding:
Basic (in shares)	62,858	62,886	62,878	62,627
Diluted (in shares)	64,690	64,454	64,989	64,609
Dividends per Common Share (in dollars per share)	$ 0.30	$ 0.28	$ 0.90	$ 0.84

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Net Income	$ 53,100	$ 53,262	$ 156,017	$ 155,902
Other Comprehensive Income (Loss):
Foreign currency translation adjustments	13,792	(20,883)	44,239	(115,030)
Changes in treasury locks, net of tax	6	6	19	19
Defined benefit pension plan, net of tax
Amortization of prior service cost included in net income, net of tax	58	42	174	127
Amortization of net loss included in net income, net of tax	779	1,132	2,337	3,389
Total defined benefit pension plan, net of tax	837	1,174	2,511	3,516
Total other comprehensive income (loss)	14,635	(19,703)	46,769	(111,495)
Comprehensive Income	67,735	33,559	202,786	44,407
Comprehensive (Income) Loss Attributable to Noncontrolling Interests	(1)	(7)		63
Comprehensive Income Attributable to AptarGroup, Inc.	$ 67,734	$ 33,552	$ 202,786	$ 44,470

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Current Assets:
Cash and equivalents	$ 432,737	$ 489,901
Short-term Investments		29,816
Cash Equivalents and Short-term Investments Total	432,737	519,717
Accounts and notes receivable, less allowance for doubtful accounts of $3,363 in 2016 and $2,710 in 2015	463,472	391,571
Inventories	322,028	294,912
Prepaid and other	83,974	88,794
Total Current Assets	1,302,211	1,294,994
Property, Plant and Equipment:
Buildings and improvements	380,270	343,698
Machinery and equipment	1,998,350	1,866,627
Property, Plant and Equipment, Gross	2,378,620	2,210,325
Less: Accumulated depreciation	(1,584,858)	(1,465,873)
Property, Plant and Equipment, Net	793,762	744,452
Land	24,268	20,931
Total Property, Plant and Equipment	818,030	765,383
Other Assets:
Investments in affiliates	4,365	4,590
Goodwill	424,780	310,240
Intangible assets	101,959	31,529
Miscellaneous	33,537	30,309
Total Other Assets	564,641	376,668
Total Assets	2,684,882	2,437,045
Current Liabilities:
Notes payable	138,784	5,083
Current maturities of long-term obligations, net of unamortized debt issuance costs	3,228	51,884
Accounts payable and accrued liabilities	362,358	354,928
Total Current Liabilities	504,370	411,895
Long-term obligations	776,766	760,848
Deferred Liabilities and Other:
Deferred income taxes	23,473	20,486
Retirement and deferred compensation plans	85,825	87,763
Deferred and other non-current liabilities	8,102	6,347
Commitments and contingencies
Total Deferred Liabilities and Other	117,400	114,596
AptarGroup, Inc. stockholders' equity
Common stock, $.01 par value, 199 million shares authorized, 66.5 and 66.7 million shares issued as of September 30, 2016 and December 31, 2015, respectively	665	667
Capital in excess of par value	544,716	495,462
Retained earnings	1,209,097	1,185,681
Accumulated other comprehensive (loss)	(215,570)	(262,347)
Less treasury stock at cost, 3.9 and 4.2 million shares as of September 30, 2016 and December 31, 2015, respectively	(252,857)	(270,052)
Total AptarGroup, Inc. Stockholders' Equity	1,286,051	1,149,411
Noncontrolling interests in subsidiaries	295	295
Total Stockholders' Equity	1,286,346	1,149,706
Total Liabilities and Stockholders' Equity	$ 2,684,882	$ 2,437,045

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands, shares in Millions	Sep. 30, 2016	Dec. 31, 2015
CONDENSED CONSOLIDATED BALANCE SHEETS
Accounts and notes receivable, allowance for doubtful accounts (in dollars)	$ 3,363	$ 2,710
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	199	199
Common stock, shares issued	66.5	66.7
Treasury stock, shares	3.9	4.2

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Thousands	Retained Earnings	Accumulated Other Comprehensive Income/(Loss)	Common Stock Par Value	Treasury Stock	Capital in Excess of Par Value	Non-Controlling Interest	Total
Balance at Dec. 31, 2014	$ 1,740,005	$ (110,045)	$ 862	$ (1,026,117)	$ 498,702	$ 509	$ 1,103,916
Increase (Decrease) in Stockholders' Equity
Net Income	155,957					(55)	155,902
Foreign currency translation adjustments		(115,022)				(8)	(115,030)
Changes in unrecognized pension gains/losses and related amortization, net of tax		3,516					3,516
Changes in treasury locks, net of tax		19					19
Stock option exercises & restricted stock vestings			10	3,936	60,771		64,717
Cash dividends declared on common stock	(52,512)						(52,512)
Treasury stock purchased				(50,000)	50,000
Treasury stock retired	(628,481)		(200)	754,118	(125,437)
Non controlling interest repurchased					(476)	(148)	(624)
Balance at Sep. 30, 2015	1,214,969	(221,532)	672	(318,063)	483,560	298	1,159,904
Balance at Dec. 31, 2015	1,185,681	(262,347)	667	(270,052)	495,462	295	1,149,706
Increase (Decrease) in Stockholders' Equity
Net Income	156,009					8	156,017
Foreign currency translation adjustments		44,247				(8)	44,239
Changes in unrecognized pension gains/losses and related amortization, net of tax		2,511					2,511
Changes in treasury locks, net of tax		19					19
Stock option exercises & restricted stock vestings			9	17,195	58,037		75,241
Cash dividends declared on common stock	(56,597)						(56,597)
Common stock repurchased and retired	(75,996)		(11)		(8,783)		(84,790)
Balance at Sep. 30, 2016	$ 1,209,097	$ (215,570)	$ 665	$ (252,857)	$ 544,716	$ 295	$ 1,286,346

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Cash Flows from Operating Activities:
Net income	$ 156,017	$ 155,902
Adjustments to reconcile net income to net cash provided by operations:
Depreciation	109,156	100,427
Amortization	6,788	3,237
Stock based compensation	17,823	17,296
Provision for (recovery of) doubtful accounts	369	(771)
Deferred income taxes	(661)	943
Defined benefit plan expense	12,632	15,434
Equity in results of affiliates	187	735
Changes in balance sheet items, excluding effects from foreign currency adjustments:
Accounts receivables	(54,243)	(46,820)
Inventories	(11,284)	(26,102)
Prepaid and other current assets	(14,244)	(11,277)
Accounts payable and accrued liabilities	3,491	42,285
Income taxes payable	(595)	(4,154)
Retirement and deferred compensation plan liabilities	(12,525)	(11,810)
Other changes, net	(8,597)	(3,962)
Net Cash Provided by Operations	204,314	231,363
Cash Flows from Investing Activities:
Capital expenditures	(92,366)	(106,228)
Proceeds from sale of property and equipment, including insurance proceeds	1,205	8
Insurance proceeds	844	1,900
Purchase of short-term investments		(67,414)
Maturity of short-term investments	29,485
Acquisition of business, net of cash acquired	(202,985)
Acquisition of intangible assets	(2,491)
Notes receivable, net	777	611
Net Cash Used by Investing Activities	(265,531)	(171,123)
Cash Flows from Financing Activities:
Proceeds from (repayments of) notes payable	132,622	(227,911)
Proceeds from long-term obligations	5,950	225,827
Repayments of long-term obligations	(53,512)	(336)
Dividends paid	(56,597)	(52,512)
Credit facility costs		(1,216)
Proceeds from stock option exercises	47,563	40,253
Common stock repurchased and retired	(84,790)
Excess tax benefit from exercise of stock options	7,960	5,934
Net Cash Used by Financing Activities	(804)	(9,961)
Effect of Exchange Rate Changes on Cash	4,857	(15,982)
Net (Decrease) Increase in Cash and Equivalents	(57,164)	34,297
Cash and Equivalents at Beginning of Period	489,901	399,762
Cash and Equivalents at End of Period	$ 432,737	$ 434,059

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2016
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. 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 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 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 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 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, 2015 but does not include all disclosures required by U.S. 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, 2015. The results of operations of any interim period are not necessarily indicative of the results that may be expected for the year. CHANGE IN ACCOUNTING PRINCIPLE During the second quarter of 2015, the Company changed its inventory valuation method for certain operating entities in its North American business to the first-in first-out (FIFO) method from the last-in first-out (LIFO) method. Prior to the change, the Company utilized two methods of inventory costing: LIFO for inventories in these operating entities and FIFO for inventories in other operating entities. The Company believes that the FIFO method is preferable as it better reflects the current value of inventory on the Company’s Condensed Consolidated Balance Sheet, provides better matching of revenues and expenses, results in uniformity across the Company’s global operations with respect to the method of inventory accounting and improves comparability with the Company’s peers. The cumulative pre-tax effect of this change, recognized in the results of operations of the second quarter of 2015, was a gain of approximately $7.4 million and was recognized as a decrease to Cost of sales (exclusive of depreciation and amortization). The effect of the change on Net Income Attributable to AptarGroup was approximately $4.8 million, representing approximately $0.08 per diluted share. The change to the FIFO method was not applied retrospectively because the impact to previously issued financial statements or to the trend of reported results of operations was immaterial. ADOPTION OF RECENT ACCOUNTING PRONOUNCEMENTS 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 May 2014, the FASB amended the guidance for recognition of revenue from customer contracts. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in the amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In August 2015, the FASB decided to defer the effective date by one year to December 15, 2017 for annual reporting periods beginning after that date. The FASB also decided to allow early adoption of the standard, but not before the original effective date of December 15, 2016. Subsequent to the initial standards, the FASB has also issued several ASUs to clarify specific revenue recognition topics. We are currently evaluating the impact the adoption of this standard will have on our Consolidated Financial Statements. In April 2015, the FASB issued an ASU intended to simplify U.S. GAAP by changing the presentation of debt issuance costs. Under the new standard, debt issuance costs will be presented as a reduction of the carrying amount of the related liability, rather than as an asset. The new treatment is consistent with debt discounts. In August 2015, the FASB issued an ASU clarifying that debt issuance costs related to line of credit arrangements can be classified as an asset and amortized ratably over the term of the line of credit arrangement. These standards were effective for annual reporting periods beginning after December 15, 2015. The Company has implemented these standards within the current financial statements and retrospectively applied the changes to the prior periods as required, which resulted in a $1.7 million reclassification from Intangible Assets to Current Maturities of Long-Term Obligations and Long-Term Obligations in the December 31, 2015 Consolidated Balance Sheet. In April 2015, the FASB issued new guidance on a customer's accounting for fees paid in a cloud computing arrangement (“CCA”). Previously, there was no specific U.S. GAAP guidance on accounting for such fees from the customer's perspective. Under the new standard, customers will apply the same criteria as vendors to determine whether a CCA contains a software license or is solely a service contract. This standard was effective for annual reporting periods beginning after December 15, 2015. The Company has adopted the requirements of the standard with respect to its current CCAs and has determined that the impact is not material to our current year financial statements. In May 2015, the FASB issued new guidance on investment disclosures. Investments measured at net asset value (“NAV”), as a practical expedient for fair value, are excluded from the fair value hierarchy. Removing investments measured using the practical expedient from the fair value hierarchy is intended to eliminate the diversity in practice that currently exists with respect to the categorization of these investments. The Company has adopted the standard and determined that there was no impact to the current period financial statements and that the presentation of pension plan investment fair value hierarchy tables in the annual financial statements will be updated accordingly. In November 2015, the FASB issued guidance which simplifies the balance sheet classification of deferred taxes. The new guidance requires that deferred tax liabilities and assets be presented as non-current in a classified statement of financial position. This standard is effective for annual reporting periods beginning after December 15, 2016. The Company has prospectively adopted the requirements of the standard and updated the presentation of our classified statement of financial position accordingly. Other accounting standards that have been issued by the FASB or other standards-setting bodies did not have a material impact on our Consolidated Financial Statements. RETIREMENT OF COMMON STOCK During the first nine months of 2016, the Company repurchased and immediately retired 1.1 million shares of common stock. Common stock was reduced by the number of shares retired at $0.01 par value per share. The excess of purchase price over par value may be charged entirely to retained earnings or may be allocated between additional paid-in capital and retained earnings. The Company has elected to allocate the excess purchase price over par value between additional paid-in capital and retained earnings. 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 pre-tax 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 making the 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 the Company will only 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. 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	9 Months Ended
	Sep. 30, 2016
INVENTORIES
INVENTORIES	NOTE 2 - INVENTORIES Inventories, by component, consisted of: September 30, December 31, Raw materials $ $ Work in process Finished goods Total $ $

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS	9 Months Ended
	Sep. 30, 2016
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 December 31, 2015 are as follows by reporting segment: Beauty + Food + Corporate Home Pharma Beverage & Other Total Goodwill $ $ $ $ $ Accumulated impairment losses — — — Balance as of December 31, 2015 $ $ $ $ — $ Acquisition — — Foreign currency exchange effects — Goodwill $ $ $ $ $ Accumulated impairment losses — — — Balance as of September 30, 2016 $ $ $ $ — $ The table below shows a summary of intangible assets as of September 30, 2016 and December 31, 2015. September 30, 2016 December 31, 2015 Weighted Average Gross Gross Amortization Period Carrying Accumulated Net Carrying Accumulated Net (Years) Amount Amortization Value Amount Amortization Value Amortized intangible assets: Patents $ $ $ $ $ $ Acquired technology Customer relationships License agreements and other Total intangible assets $ $ $ $ $ $ Aggregate amortization expense for the intangible assets above for the quarters ended September 30, 2016 and 2015 was $2,553 and $1,071, respectively. Aggregate amortization expense for the intangible assets above for the nine months ended September 30, 2016 and 2015 was $6,788 and $3,237, respectively. Future estimated amortization expense for the years ending December 31 is as follows: 2016 $ (remaining estimated amortization for 2016) 2017 2018 2019 2020 and thereafter 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 September 30, 2016.

INCOME TAX UNCERTAINTIES

INCOME TAX UNCERTAINTIES	9 Months Ended
	Sep. 30, 2016
INCOME TAX UNCERTAINTIES
INCOME TAX UNCERTAINTIES	NOTE 4 — INCOME TAX UNCERTAINTIES The Company had approximately $9.1 and $7.9 million recorded for income tax uncertainties as of September 30, 2016 and December 31, 2015, respectively. The increase is attributable to tax benefits recognized in multiple jurisdictions which are currently under examination. The Company is actively defending its positions and the final results could differ. The uncertain amounts, if recognized, that would impact the effective tax rate is $9.1 and $7.9 million, respectively. The Company estimates that it is reasonably possible that the liability for uncertain tax positions will decrease by no more than $7.0 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.

LONG-TERM OBLIGATIONS

LONG-TERM OBLIGATIONS	9 Months Ended
	Sep. 30, 2016
LONG-TERM OBLIGATIONS
LONG-TERM OBLIGATIONS	NOTE 5 – LONG –TERM OBLIGATIONS In December 2014, we executed a $475 million private placement to take advantage of low long-term interest rates. At that time, we closed on $250 million of the private placement to fund our accelerated share repurchase (“ASR”) program (see Note 11). This closing consisted of two maturity tranches, with $125 million of 9 year notes at an interest rate of 3.49% and $125 million of 11 year notes at an interest rate of 3.61%. We closed on the remaining $225 million of the private placement in February 2015, consisting of $100 million of 9 year notes at an interest rate of 3.49% and $125 million of 11 year notes at an interest rate of 3.61%. The proceeds from this closing were used to pay down the existing revolving line of credit. At September 30, 2016, the Company’s long-term obligations consisted of the following: Unamortized Debt Issuance Principal Costs Net Notes payable 0.61% – 16.00%, due in monthly and annual installments through 2025 $ $ — $ Senior unsecured notes 6.0%, due in 2018 Senior unsecured notes 3.8%, due in 2020 Senior unsecured notes 3.2%, due in 2022 Senior unsecured notes 3.5%, due in 2023 Senior unsecured notes 3.4%, due in 2024 Senior unsecured notes 3.5%, due in 2024 Senior unsecured notes 3.6%, due in 2025 Senior unsecured notes 3.6%, due in 2026 Capital lease obligations — $ $ $ Current maturities of long-term obligations — Total long-term obligations $ $ $ At December 31, 2015, the Company’s long-term obligations consisted of the following: Unamortized Debt Issuance Principal Costs Net Notes payable 0.61% – 14.50%, due in monthly and annual installments through 2025 $ $ — $ Senior unsecured notes 6.0%, due in 2016 Senior unsecured notes 6.0%, due in 2018 Senior unsecured notes 3.8%, due in 2020 Senior unsecured notes 3.2%, due in 2022 Senior unsecured notes 3.5%, due in 2023 Senior unsecured notes 3.4%, due in 2024 Senior unsecured notes 3.5%, due in 2024 Senior unsecured notes 3.6%, due in 2025 Senior unsecured notes 3.6%, due in 2026 Capital lease obligations — $ $ $ Current maturities of long-term obligations Total long-term obligations $ $ $ Aggregate long-term maturities, excluding capital lease obligations, due annually from the current balance sheet date for the next five years are $2,707, $3,603, $78,604, $4,686 and $85,816 and $604,226 thereafter.

RETIREMENT AND DEFERRED COMPENS

RETIREMENT AND DEFERRED COMPENSATION PLANS	9 Months Ended
	Sep. 30, 2016
RETIREMENT AND DEFERRED COMPENSATION PLANS
RETIREMENT AND DEFERRED COMPENSATION PLANS	NOTE 6 — RETIREMENT AND DEFERRED COMPENSATION PLANS Components of Net Periodic Benefit Cost: Domestic Plans Foreign Plans Three Months Ended September 30, Service cost $ $ $ $ Interest cost Expected return on plan assets Amortization of net loss Amortization of prior service cost — — Net periodic benefit cost $ $ $ $ Domestic Plans Foreign Plans Nine Months Ended September 30, Service cost $ $ $ $ Interest cost Expected return on plan assets Amortization of net loss Amortization of prior service cost — — Net periodic benefit cost $ $ $ $ EMPLOYER CONTRIBUTIONS Although the Company has no minimum funding requirement, we contributed $10.0 million to our domestic defined benefit plans during the first quarter of 2016. The Company also expects to contribute approximately $4.5 million to our foreign defined benefit plans in 2016, and as of September 30, 2016, we have contributed approximately $1.5 million.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME	9 Months Ended
	Sep. 30, 2016
ACCUMULATED OTHER COMPREHENSIVE INCOME
ACCUMULATED OTHER COMPREHENSIVE INCOME	NOTE 7— ACCUMULATED OTHER COMPREHENSIVE INCOME Changes in Accumulated Other Comprehensive Income by Component: Foreign Defined Benefit Currency Pension Plans Other Total Balance - December 31, 2014 $ $ $ $ Other comprehensive (loss) before reclassifications — — Amounts reclassified from accumulated other comprehensive income — Net current-period other comprehensive (loss) income Balance - September 30, 2015 $ $ $ $ Balance - December 31, 2015 $ $ $ $ Other comprehensive income before reclassifications — — Amounts reclassified from accumulated other comprehensive (loss) income Net current-period other comprehensive income Balance - September 30, 2016 $ $ $ $ Reclassifications Out of Accumulated Other Comprehensive Income: Amount Reclassified from Details about Accumulated Other Accumulated Other Affected Line in the Statement Comprehensive Income Components Comprehensive Income Where Net Income is Presented Three Months Ended September 30, Defined Benefit Pension Plans Amortization of net loss $ $ (a) Amortization of prior service cost (a) Total before tax Tax benefit $ $ Net of tax Foreign Currency Foreign currency gain $ $ — Miscellaneous, net — Total before tax — — Tax benefit $ $ — Net of tax Other Changes in treasury locks $ $ Interest Expense Total before tax Tax benefit $ $ Net of tax Total reclassifications for the period $ $ (a) These accumulated other comprehensive income components are included in the computation of net periodic benefit costs, net of tax (see Note 6 – Retirement and Deferred Compensation Plans for additional details). Amount Reclassified from Details about Accumulated Other Accumulated Other Affected Line in the Statement Comprehensive Income Components Comprehensive Income Where Net Income is Presented Nine Months Ended September 30, Defined Benefit Pension Plans Amortization of net loss $ $ (b) Amortization of prior service cost (b) Total before tax Tax benefit $ $ Net of tax Foreign Currency Foreign currency gain $ $ — Miscellaneous, net — Total before tax — — Tax benefit $ $ — Net of tax Other Changes in treasury locks $ $ Interest Expense Total before tax Tax benefit $ $ Net of tax Total reclassifications for the period $ $ (b) These accumulated other comprehensive income components are included in the computation of net periodic benefit costs, net of tax (see Note 6 – Retirement and Deferred Compensation Plans for additional details).

DERIVATIVE INSTRUMENTS AND HEDG

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	9 Months Ended
	Sep. 30, 2016
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	NOTE 8 — 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. 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 subsidiaries. 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 September 30, 2016, the Company has recorded the fair value of foreign currency forward exchange contracts of $0.6 million in prepaid and other and $1.3 million in accounts payable and accrued liabilities in the balance sheet. All forward exchange contracts outstanding as of September 30, 2016 had an aggregate contract amount of $107.5 million. Fair Value of Derivative Instruments in the Condensed Consolidated Balance Sheets as of September 30, 2016 and December 31, 2015 Derivative Contracts Not Designated September 30, December 31, as Hedging Instruments Balance Sheet Location Derivative Assets Foreign Exchange Contracts Prepaid and other $ $ Foreign Exchange Contracts Miscellaneous other assets — $ $ Derivative Liabilities Foreign Exchange Contracts Accounts payable and accrued liabilities $ $ Foreign Exchange Contracts Deferred and other non-current liabilities — $ $ The Effect of Derivative Instruments on the Condensed Consolidated Statements of Income for the Quarters Ended September 30, 2016 and September 30, 2015 Amount of Gain Derivatives Not Designated Location of Gain Recognized Recognized in Income as Hedging Instruments in Income on Derivatives on Derivatives Foreign Exchange Contracts Other (Expense) Income: Miscellaneous, net $ $ $ $ The Effect of Derivative Instruments on the Condensed Consolidated Statements of Income for the Nine Months Ended September 30, 2016 and September 30, 2015 Amount of (Loss) Gain Derivatives Not Designated Location of (Loss) Gain Recognized Recognized in Income as Hedging Instruments in Income on Derivatives on Derivatives Foreign Exchange Contracts Other (Expense) Income: Miscellaneous, net $ $ $ $ Gross Amounts not Offset Net Amounts in the Statement of Gross Amounts Presented in Financial Position Gross Offset in the the Statement of Financial Cash Collateral Net Amount Financial Position Financial Position Instruments Received Amount Description September 30, 2016 Derivative Assets $ — $ — — $ Total Assets $ — $ — — $ Derivative Liabilities $ — $ — — $ Total Liabilities $ — $ — — $ December 31, 2015 Derivative Assets $ — $ — — $ Total Assets $ — $ — — $ Derivative Liabilities $ — $ — — $ Total Liabilities $ — $ — — $

FAIR VALUE

FAIR VALUE	9 Months Ended
	Sep. 30, 2016
FAIR VALUE
FAIR VALUE	NOTE 9 — 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 September 30, 2016, 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) $ $ — $ $ — Total assets at fair value $ $ — $ $ — Liabilities Forward exchange contracts (a) $ $ — $ $ — Total liabilities at fair value $ $ — $ $ — As of December 31, 2015, 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) $ $ — $ $ — Total assets at fair value $ $ — $ $ — Liabilities Forward exchange contracts (a) $ $ — $ $ — Total liabilities at fair value $ $ — $ $ — (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 $803 million as of September 30, 2016 and $760 million as of December 31, 2015.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2016
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	NOTE 10 - 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. 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. 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 September 30, 2016 and December 31, 2015.

STOCK REPURCHASE PROGRAM

STOCK REPURCHASE PROGRAM	9 Months Ended
	Sep. 30, 2016
STOCK REPURCHASE PROGRAM
STOCK REPURCHASE PROGRAM	NOTE 11 — STOCK REPURCHASE PROGRAM The Company announced the $350 million share repurchase program in effect for the quarter ended September 30, 2016 on October 30, 2014. On October 20, 2016, the Company announced a new share repurchase authorization of up to $350 million of common stock. This authorization replaces previous authorizations and has no expiration date. AptarGroup may repurchase shares through the open market, privately negotiated transactions or other programs, subject to market conditions. On December 16, 2014, the Company entered into an agreement to repurchase approximately $250 million of its common stock under an accelerated share repurchase program (the “ASR program”). The ASR program is part of the Company’s $350 million share repurchase authorization. On December 17, 2014, the Company paid $250 million to Wells Fargo Bank N.A. (“Wells Fargo”) in exchange for approximately 3.1 million shares. On September 25, 2015, the Company settled the ASR program with Wells Fargo and received approximately 719 thousand additional shares. The total number of shares repurchased under the ASR program was approximately 3.8 million shares. Shares repurchased subsequent to the completion of the ASR program have been immediately retired. During the three and nine months ended September 30, 2016, the Company repurchased approximately 463 thousand and 1.1 million shares for approximately $36.1 million and $84.8 million, respectively. During the three and nine months ended September 30, 2015, the Company did not repurchase any additional shares outside of the ASR program settlement. As of September 30, 2016, there was $1.3 million of authorized share repurchases available to the Company.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	9 Months Ended
	Sep. 30, 2016
STOCK-BASED COMPENSATION
STOCK-BASED COMPENSATION	NOTE 12 — STOCK-BASED COMPENSATION The Company issues stock options and restricted stock units to employees under Stock Awards Plans approved by shareholders. Stock options and restricted stock units are issued to non-employee directors under Director Stock Option Plans and the Director Restricted Stock Unit Plan 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 granted to employees generally vest over three years. Compensation expense recorded attributable to stock options for the first nine months of 2016 was approximately $15.5 million. Approximately $13.7 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 nine months of 2015 was approximately $14.9 million. Approximately $13.2 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 $12.87 and $12.83 per share during the first nine months of 2016 and 2015, 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: Nine Months Ended September 30, Dividend Yield % % Expected Stock Price Volatility % % Risk-free Interest Rate % % Expected Life of Option (years) There were no grants under the Director Stock Option Plan during the third quarter of 2015 as this plan was cancelled and replaced by the Director Restricted Stock Unit Plan. A summary of option activity under the Company’s stock plans during the nine months ended September 30, 2016 is presented below: Stock Awards Plans Director Stock Option Plans Weighted Average Weighted Average Options Exercise Price Options Exercise Price Outstanding, January 1, 2016 $ $ Granted — — Exercised Forfeited or expired — — Outstanding at September 30, 2016 $ $ Exercisable at September 30, 2016 $ $ Weighted-Average Remaining Contractual Term (Years): Outstanding at September 30, 2016 Exercisable at September 30, 2016 Aggregate Intrinsic Value: Outstanding at September 30, 2016 $ $ Exercisable at September 30, 2016 $ $ Intrinsic Value of Options Exercised During the Nine Months Ended: September 30, 2016 $ $ September 30, 2015 $ $ The fair value of shares vested during the nine months ended September 30, 2016 and 2015 was $17.2 million and $16.1 million, respectively. Cash received from option exercises was approximately $47.6 million and the actual tax benefit realized for the tax deduction from option exercises was approximately $12.0 million in the nine months ended September 30, 2016. As of September 30, 2016, the remaining valuation of stock option awards to be expensed in future periods was $16.1 million and the related weighted-average period over which it is expected to be recognized is 1.5 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 September 30, 2016, and changes during the nine month period then ended, is presented below: Director Restricted Stock Awards Plans Stock Unit Plan Weighted Average Weighted Average RSUs Grant-Date Fair Value RSUs Grant-Date Fair Value Nonvested at January 1, 2016 $ $ Granted Vested Forfeited — — Nonvested at September 30, 2016 $ $ Compensation expense recorded attributable to restricted stock unit grants was approximately $2.3 million for both of the first nine months of 2016 and 2015. The fair value of units vested during the nine months ended September 30, 2016 and 2015 was $1.9 million and $757 thousand, respectively. The intrinsic value of units vested during the nine months ended September 30, 2016 and 2015 was $2.3 million and $877 thousand, respectively. As of September 30, 2016, there was $1.8 million of total unrecognized compensation cost relating to restricted stock unit awards which is expected to be recognized over a weighted-average period of 1.2 years. The Company has a long-term incentive program for certain employees. Each award is based on the cumulative total shareholder return of our common stock during a three year performance period. Total expense related to this program for awards outstanding as of September 30, 2016 is expected to be approximately $3.7 million, of which $973 thousand and $857 thousand was recognized in the first nine months of 2016 and 2015, respectively.

EARNINGS PER SHARE

EARNINGS PER SHARE	9 Months Ended
	Sep. 30, 2016
EARNINGS PER SHARE
EARNINGS PER SHARE	NOTE 13 — 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: Three Months Ended September 30, 2016 September 30, 2015 Diluted Basic Diluted Basic Consolidated operations Income available to common shareholders $ $ $ $ Average equivalent shares Shares of common stock Effect of dilutive stock based compensation Stock options — — Restricted stock — — Total average equivalent shares Net income per share $ $ $ $ Nine Months Ended September 30, 2016 September 30, 2015 Diluted Basic Diluted Basic Consolidated operations Income available to common shareholders $ $ $ $ Average equivalent shares Shares of common stock Effect of dilutive stock based compensation Stock options — — Restricted stock — — Total average equivalent shares Net income per share $ $ $ $

SEGMENT INFORMATION

SEGMENT INFORMATION	9 Months Ended
	Sep. 30, 2016
SEGMENT INFORMATION
SEGMENT INFORMATION	NOTE 14 — SEGMENT INFORMATION 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, 2015. Financial information regarding the Company’s reportable segments is shown below: Three Months Ended September 30, Nine Months Ended September 30, Total Sales: Beauty + Home $ $ $ $ Pharma Food + Beverage Total Sales Less: Intersegment Sales: Beauty + Home $ $ $ $ Pharma — — — Food + Beverage Total Intersegment Sales $ $ $ $ Net Sales: Beauty + Home $ $ $ $ Pharma Food + Beverage Net Sales $ $ $ $ Segment Income (1): Beauty + Home $ $ $ $ Pharma Food + Beverage Corporate & Other Income before interest and taxes $ $ $ $ Interest expense, net Income before income taxes $ $ $ $ (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 and income taxes.

INSURANCE SETTLEMENT RECEIVABLE

INSURANCE SETTLEMENT RECEIVABLE	9 Months Ended
	Sep. 30, 2016
INSURANCE SETTLEMENT RECEIVABLE
INSURANCE SETTLEMENT RECEIVABLE	Note 15 – INSURANCE SETTLEMENT RECEIVABLE As previously disclosed, a fire caused damages to AptarGroup’s facility in Annecy, France on June 25, 2016. The fire was contained to one of three production units and there were no reported injuries. Aptar Annecy supplies anodized aluminum components for certain AptarGroup dispensing systems. While repairs are underway, AptarGroup will source from its network of suppliers as well as from its anodizing facility in Brazil. The Company is insured for the damages caused by the fire, including business interruption insurance, and it does not expect this incident to have a material impact on its financial results. Costs, including the write-off of damaged fixed assets and inventory along with labor and other direct costs related to the fire, of $4.9 million and $5.5 million were incurred during the third quarter and year to date, respectively. As of September 30, 2016, we have received insurance proceeds of $2.2 million. We have established an insurance receivable of $1.9 million for known losses for which insurance reimbursement is probable, which is included in Prepaid and Other in the Condensed Consolidated Balance Sheet. In many cases, our insurance coverage exceeds the amount of these incurred losses. No gain contingencies have been recognized as our ability to realize those gains remains uncertain. Therefore, we are reporting net expenses of $1.4 million related to the French fire during 2016. These costs are included in the Beauty + Home segment. A separate fire caused damage to the roof and production area of one of the Company’s facilities in Brazil in September 2014. There were no injuries. The facility is primarily an internal supplier of anodized aluminum components for certain dispensing systems sold to the regional beauty and personal care markets. Repairs of the facility were essentially completed in the fourth quarter 2015. AptarGroup is insured for the damages caused by the fire, including business interruption insurance. While the Company is still finalizing the payout of the claims with our insurance carriers, we have a $2.3 million receivable related to costs incurred but not yet reimbursed, which is included in Prepaid and Other in the Condensed Consolidated Balance Sheet. This incident did not have a material impact on our financial results during the first nine months of either 2016 or 2015 and we expect to reach a final insurance settlement during 2016.

ACQUISITIONS

ACQUISITIONS	9 Months Ended
	Sep. 30, 2016
ACQUISITIONS
ACQUISITIONS	NOTE 16 – ACQUISITIONS On February 29, 2016, the Company completed its acquisition of MegaPlast GmbH and its subsidiaries along with Megaplast France S.a.r.l and Mega Pumps L.P. (Mega Airless). Mega Airless is a leading provider of innovative all-plastic airless dispensing systems for the beauty, personal care and pharmaceutical markets and operates two manufacturing facilities in Germany and one in the United States. The purchase price paid for Mega Airless was approximately $223.2 million ($203.0 million net of cash received) and was funded by cash on hand and borrowings on our revolving line of credit. Mega Airless contributed sales of $18.3 million and pretax income of $2.2 million for the three months ended September 30, 2016. For the nine months ended September 30, 2016, Mega Airless reported sales of $42.9 million and pretax income of $2.1 million due to a purchase accounting adjustment of $2.6 million related to the inventory fair value adjustment. The results of the acquired business from the acquisition date are included in the accompanying consolidated financial statements and are reported in the Beauty + Home and Pharma reporting segments. For the nine months ended September 30, 2016, we recognized $5.6 million in transaction costs related to the acquisition of Mega Airless. These costs are reflected in the selling, research & development and administrative section of the Condensed Consolidated Statements of Income. The following table summarizes the assets acquired and liabilities assumed as of the acquisition date at estimated fair value. February 29, 2016 Assets Cash and equivalents $ Accounts receivable Inventories Prepaid and other Property, plant and equipment Goodwill Intangible assets Other miscellaneous assets Liabilities Current maturities of long-term obligations Accounts payable and accrued liabilities Long-term obligations Deferred income taxes Net assets acquired $ During the quarter ended September 30, 2016 we continued to obtain information to refine estimated fair values. As a result of the additional information the significant adjustments to the carrying amounts were as follows: · deferred income tax liabilities decreased by $0.4 million · goodwill decreased by $0.4 million The following table is a summary of the fair value estimates of the acquired identifiable intangible assets and weighted-average useful lives as of the acquisition date: Weighted-Average Estimated Useful Life Fair Value (in years) of Asset Customer relationships $ Technology Trademark Total $ Based on the initial calculations, goodwill in the amount of $105.6 million was recorded for the acquisition of Mega Airless, of which $49.8 million and $55.8 million is included in the Beauty + Home and Pharma segments, respectively. Goodwill is calculated as the excess of the consideration transferred over the net assets acquired and represents the estimated future economic benefits arising from other assets acquired that could not be individually identified and separately recognized. Goodwill largely consists of leveraging the Company’s commercial presence in selling the Mega Airless line of products in markets where Mega Airless did not previously operate and the ability of Mega Airless to maintain its competitive advantage from a technical viewpoint. Goodwill will not be amortized, but will be tested for impairment at least annually. We do not expect any of the goodwill will be deductible for tax purposes. The unaudited pro forma results presented below include the effects of the Mega Airless acquisition as if it had occurred as of January 1, 2015. The unaudited pro forma results reflect certain adjustments related to the acquisition, such as the amortization associated with estimates for the acquired intangible assets and fair value adjustments for inventory. The 2016 pro forma earnings were adjusted to exclude $4.2 million after tax ($5.6 million pretax) of transaction costs, including consulting, legal, and advisory fees. The 2016 pro forma earnings were also adjusted to exclude $1.7 million after tax ($2.6 million pretax) of nonrecurring expense related to the fair value adjustment to acquisition-date inventory. The 2015 pro forma earnings were adjusted to include these adjustments. The pro forma results do not include any synergies or other expected benefits of the acquisition. Accordingly, the unaudited pro forma financial information below is not necessarily indicative of either future results of operations or results that might have been achieved had the acquisition been completed on the dates indicated. Three Months Ended September 30, Nine Months Ended September 30, ($ millions) Net Sales $ $ $ $ Net Income Attributable to AptarGroup Inc. Net Income per common share — basic Net Income per common share — diluted

SUMMARY OF SIGNIFICANT ACCOUN24

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2016
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. 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 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 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 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 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, 2015 but does not include all disclosures required by U.S. 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, 2015. The results of operations of any interim period are not necessarily indicative of the results that may be expected for the year.
CHANGE IN ACCOUNTING PRINCIPLE	CHANGE IN ACCOUNTING PRINCIPLE During the second quarter of 2015, the Company changed its inventory valuation method for certain operating entities in its North American business to the first-in first-out (FIFO) method from the last-in first-out (LIFO) method. Prior to the change, the Company utilized two methods of inventory costing: LIFO for inventories in these operating entities and FIFO for inventories in other operating entities. The Company believes that the FIFO method is preferable as it better reflects the current value of inventory on the Company’s Condensed Consolidated Balance Sheet, provides better matching of revenues and expenses, results in uniformity across the Company’s global operations with respect to the method of inventory accounting and improves comparability with the Company’s peers. The cumulative pre-tax effect of this change, recognized in the results of operations of the second quarter of 2015, was a gain of approximately $7.4 million and was recognized as a decrease to Cost of sales (exclusive of depreciation and amortization). The effect of the change on Net Income Attributable to AptarGroup was approximately $4.8 million, representing approximately $0.08 per diluted share. The change to the FIFO method was not applied retrospectively because the impact to previously issued financial statements or to the trend of reported results of operations was immaterial.
ADOPTION OF RECENT ACCOUNTING PRONOUNCEMENTS	ADOPTION OF RECENT ACCOUNTING PRONOUNCEMENTS 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 May 2014, the FASB amended the guidance for recognition of revenue from customer contracts. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in the amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In August 2015, the FASB decided to defer the effective date by one year to December 15, 2017 for annual reporting periods beginning after that date. The FASB also decided to allow early adoption of the standard, but not before the original effective date of December 15, 2016. Subsequent to the initial standards, the FASB has also issued several ASUs to clarify specific revenue recognition topics. We are currently evaluating the impact the adoption of this standard will have on our Consolidated Financial Statements. In April 2015, the FASB issued an ASU intended to simplify U.S. GAAP by changing the presentation of debt issuance costs. Under the new standard, debt issuance costs will be presented as a reduction of the carrying amount of the related liability, rather than as an asset. The new treatment is consistent with debt discounts. In August 2015, the FASB issued an ASU clarifying that debt issuance costs related to line of credit arrangements can be classified as an asset and amortized ratably over the term of the line of credit arrangement. These standards were effective for annual reporting periods beginning after December 15, 2015. The Company has implemented these standards within the current financial statements and retrospectively applied the changes to the prior periods as required, which resulted in a $1.7 million reclassification from Intangible Assets to Current Maturities of Long-Term Obligations and Long-Term Obligations in the December 31, 2015 Consolidated Balance Sheet. In April 2015, the FASB issued new guidance on a customer's accounting for fees paid in a cloud computing arrangement (“CCA”). Previously, there was no specific U.S. GAAP guidance on accounting for such fees from the customer's perspective. Under the new standard, customers will apply the same criteria as vendors to determine whether a CCA contains a software license or is solely a service contract. This standard was effective for annual reporting periods beginning after December 15, 2015. The Company has adopted the requirements of the standard with respect to its current CCAs and has determined that the impact is not material to our current year financial statements. In May 2015, the FASB issued new guidance on investment disclosures. Investments measured at net asset value (“NAV”), as a practical expedient for fair value, are excluded from the fair value hierarchy. Removing investments measured using the practical expedient from the fair value hierarchy is intended to eliminate the diversity in practice that currently exists with respect to the categorization of these investments. The Company has adopted the standard and determined that there was no impact to the current period financial statements and that the presentation of pension plan investment fair value hierarchy tables in the annual financial statements will be updated accordingly. In November 2015, the FASB issued guidance which simplifies the balance sheet classification of deferred taxes. The new guidance requires that deferred tax liabilities and assets be presented as non-current in a classified statement of financial position. This standard is effective for annual reporting periods beginning after December 15, 2016. The Company has prospectively adopted the requirements of the standard and updated the presentation of our classified statement of financial position accordingly. Other accounting standards that have been issued by the FASB or other standards-setting bodies did not have a material impact on our Consolidated Financial Statements.
RETIREMENT OF COMMON STOCK	RETIREMENT OF COMMON STOCK During the first nine months of 2016, the Company repurchased and immediately retired 1.1 million shares of common stock. Common stock was reduced by the number of shares retired at $0.01 par value per share. The excess of purchase price over par value may be charged entirely to retained earnings or may be allocated between additional paid-in capital and retained earnings. The Company has elected to allocate the excess purchase price over par value between additional paid-in capital and retained earnings.
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 pre-tax 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 making the 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 the Company will only 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. 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)	9 Months Ended
	Sep. 30, 2016
INVENTORIES
Schedule of inventories, by component	September 30, December 31, Raw materials $ $ Work in process Finished goods Total $ $

GOODWILL AND OTHER INTANGIBLE26

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)	9 Months Ended
	Sep. 30, 2016
GOODWILL AND OTHER INTANGIBLE ASSETS
Schedule of changes in the carrying amount of goodwill	Beauty + Food + Corporate Home Pharma Beverage & Other Total Goodwill $ $ $ $ $ Accumulated impairment losses — — — Balance as of December 31, 2015 $ $ $ $ — $ Acquisition — — Foreign currency exchange effects — Goodwill $ $ $ $ $ Accumulated impairment losses — — — Balance as of September 30, 2016 $ $ $ $ — $
Summary of amortized intangible assets	September 30, 2016 December 31, 2015 Weighted Average Gross Gross Amortization Period Carrying Accumulated Net Carrying Accumulated Net (Years) Amount Amortization Value Amount Amortization Value Amortized intangible assets: Patents $ $ $ $ $ $ Acquired technology Customer relationships License agreements and other Total intangible assets $ $ $ $ $ $
Schedule of future estimated amortization expense	Future estimated amortization expense for the years ending December 31 is as follows: 2016 $ (remaining estimated amortization for 2016) 2017 2018 2019 2020 and thereafter

LONG-TERM OBLIGATIONS (Tables)

LONG-TERM OBLIGATIONS (Tables)	9 Months Ended
	Sep. 30, 2016
LONG-TERM OBLIGATIONS
Schedule of long-term obligations	At September 30, 2016, the Company’s long-term obligations consisted of the following: Unamortized Debt Issuance Principal Costs Net Notes payable 0.61% – 16.00%, due in monthly and annual installments through 2025 $ $ — $ Senior unsecured notes 6.0%, due in 2018 Senior unsecured notes 3.8%, due in 2020 Senior unsecured notes 3.2%, due in 2022 Senior unsecured notes 3.5%, due in 2023 Senior unsecured notes 3.4%, due in 2024 Senior unsecured notes 3.5%, due in 2024 Senior unsecured notes 3.6%, due in 2025 Senior unsecured notes 3.6%, due in 2026 Capital lease obligations — $ $ $ Current maturities of long-term obligations — Total long-term obligations $ $ $ At December 31, 2015, the Company’s long-term obligations consisted of the following: Unamortized Debt Issuance Principal Costs Net Notes payable 0.61% – 14.50%, due in monthly and annual installments through 2025 $ $ — $ Senior unsecured notes 6.0%, due in 2016 Senior unsecured notes 6.0%, due in 2018 Senior unsecured notes 3.8%, due in 2020 Senior unsecured notes 3.2%, due in 2022 Senior unsecured notes 3.5%, due in 2023 Senior unsecured notes 3.4%, due in 2024 Senior unsecured notes 3.5%, due in 2024 Senior unsecured notes 3.6%, due in 2025 Senior unsecured notes 3.6%, due in 2026 Capital lease obligations — $ $ $ Current maturities of long-term obligations Total long-term obligations $ $ $

RETIREMENT AND DEFERRED COMPE28

RETIREMENT AND DEFERRED COMPENSATION PLANS (Tables)	9 Months Ended
	Sep. 30, 2016
RETIREMENT AND DEFERRED COMPENSATION PLANS
Components of net periodic benefit cost	Domestic Plans Foreign Plans Three Months Ended September 30, Service cost $ $ $ $ Interest cost Expected return on plan assets Amortization of net loss Amortization of prior service cost — — Net periodic benefit cost $ $ $ $ Domestic Plans Foreign Plans Nine Months Ended September 30, Service cost $ $ $ $ Interest cost Expected return on plan assets Amortization of net loss Amortization of prior service cost — — Net periodic benefit cost $ $ $ $

ACCUMULATED OTHER COMPREHENSI29

ACCUMULATED OTHER COMPREHENSIVE INCOME (Tables)	9 Months Ended
	Sep. 30, 2016
ACCUMULATED OTHER COMPREHENSIVE INCOME
Changes in Accumulated Other Comprehensive Income by Component	Foreign Defined Benefit Currency Pension Plans Other Total Balance - December 31, 2014 $ $ $ $ Other comprehensive (loss) before reclassifications — — Amounts reclassified from accumulated other comprehensive income — Net current-period other comprehensive (loss) income Balance - September 30, 2015 $ $ $ $ Balance - December 31, 2015 $ $ $ $ Other comprehensive income before reclassifications — — Amounts reclassified from accumulated other comprehensive (loss) income Net current-period other comprehensive income Balance - September 30, 2016 $ $ $ $
Reclassifications Out of Accumulated Other Comprehensive Income	Reclassifications Out of Accumulated Other Comprehensive Income: Amount Reclassified from Details about Accumulated Other Accumulated Other Affected Line in the Statement Comprehensive Income Components Comprehensive Income Where Net Income is Presented Three Months Ended September 30, Defined Benefit Pension Plans Amortization of net loss $ $ (a) Amortization of prior service cost (a) Total before tax Tax benefit $ $ Net of tax Foreign Currency Foreign currency gain $ $ — Miscellaneous, net — Total before tax — — Tax benefit $ $ — Net of tax Other Changes in treasury locks $ $ Interest Expense Total before tax Tax benefit $ $ Net of tax Total reclassifications for the period $ $ (a) These accumulated other comprehensive income components are included in the computation of net periodic benefit costs, net of tax (see Note 6 – Retirement and Deferred Compensation Plans for additional details). Amount Reclassified from Details about Accumulated Other Accumulated Other Affected Line in the Statement Comprehensive Income Components Comprehensive Income Where Net Income is Presented Nine Months Ended September 30, Defined Benefit Pension Plans Amortization of net loss $ $ (b) Amortization of prior service cost (b) Total before tax Tax benefit $ $ Net of tax Foreign Currency Foreign currency gain $ $ — Miscellaneous, net — Total before tax — — Tax benefit $ $ — Net of tax Other Changes in treasury locks $ $ Interest Expense Total before tax Tax benefit $ $ Net of tax Total reclassifications for the period $ $ (b) These accumulated other comprehensive income components are included in the computation of net periodic benefit costs, net of tax (see Note 6 – Retirement and Deferred Compensation Plans for additional details).

DERIVATIVE INSTRUMENTS AND HE30

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)	9 Months Ended
	Sep. 30, 2016
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 September 30, 2016 and December 31, 2015 Derivative Contracts Not Designated September 30, December 31, as Hedging Instruments Balance Sheet Location Derivative Assets Foreign Exchange Contracts Prepaid and other $ $ Foreign Exchange Contracts Miscellaneous other assets — $ $ Derivative Liabilities Foreign Exchange Contracts Accounts payable and accrued liabilities $ $ Foreign Exchange Contracts Deferred and other non-current liabilities — $ $
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 September 30, 2016 and September 30, 2015 Amount of Gain Derivatives Not Designated Location of Gain Recognized Recognized in Income as Hedging Instruments in Income on Derivatives on Derivatives Foreign Exchange Contracts Other (Expense) Income: Miscellaneous, net $ $ $ $ The Effect of Derivative Instruments on the Condensed Consolidated Statements of Income for the Nine Months Ended September 30, 2016 and September 30, 2015 Amount of (Loss) Gain Derivatives Not Designated Location of (Loss) Gain Recognized Recognized in Income as Hedging Instruments in Income on Derivatives on Derivatives Foreign Exchange Contracts Other (Expense) Income: Miscellaneous, net $ $ $ $
Schedule of offsetting derivative assets and liabilities	Gross Amounts not Offset Net Amounts in the Statement of Gross Amounts Presented in Financial Position Gross Offset in the the Statement of Financial Cash Collateral Net Amount Financial Position Financial Position Instruments Received Amount Description September 30, 2016 Derivative Assets $ — $ — — $ Total Assets $ — $ — — $ Derivative Liabilities $ — $ — — $ Total Liabilities $ — $ — — $ December 31, 2015 Derivative Assets $ — $ — — $ Total Assets $ — $ — — $ Derivative Liabilities $ — $ — — $ Total Liabilities $ — $ — — $

FAIR VALUE (Tables)

FAIR VALUE (Tables)	9 Months Ended
	Sep. 30, 2016
FAIR VALUE
Schedule of fair values of financial assets and liabilities	As of September 30, 2016, 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) $ $ — $ $ — Total assets at fair value $ $ — $ $ — Liabilities Forward exchange contracts (a) $ $ — $ $ — Total liabilities at fair value $ $ — $ $ — As of December 31, 2015, 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) $ $ — $ $ — Total assets at fair value $ $ — $ $ — Liabilities Forward exchange contracts (a) $ $ — $ $ — Total liabilities at fair value $ $ — $ $ — (a) Market approach valuation technique based on observable market transactions of spot and forward rates.

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	9 Months Ended
	Sep. 30, 2016
STOCK-BASED COMPENSATION
Weighted-average assumptions used to estimate fair value of stock options granted	Stock Awards Plans: Nine Months Ended September 30, Dividend Yield % % Expected Stock Price Volatility % % Risk-free Interest Rate % % Expected Life of Option (years)
Summary of option activity	Stock Awards Plans Director Stock Option Plans Weighted Average Weighted Average Options Exercise Price Options Exercise Price Outstanding, January 1, 2016 $ $ Granted — — Exercised Forfeited or expired — — Outstanding at September 30, 2016 $ $ Exercisable at September 30, 2016 $ $ Weighted-Average Remaining Contractual Term (Years): Outstanding at September 30, 2016 Exercisable at September 30, 2016 Aggregate Intrinsic Value: Outstanding at September 30, 2016 $ $ Exercisable at September 30, 2016 $ $ Intrinsic Value of Options Exercised During the Nine Months Ended: September 30, 2016 $ $ September 30, 2015 $ $
Summary of restricted stock unit activity	Director Restricted Stock Awards Plans Stock Unit Plan Weighted Average Weighted Average RSUs Grant-Date Fair Value RSUs Grant-Date Fair Value Nonvested at January 1, 2016 $ $ Granted Vested Forfeited — — Nonvested at September 30, 2016 $ $

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	9 Months Ended
	Sep. 30, 2016
EARNINGS PER SHARE
Reconciliation of Basic and Diluted Earnings Per Share	Three Months Ended September 30, 2016 September 30, 2015 Diluted Basic Diluted Basic Consolidated operations Income available to common shareholders $ $ $ $ Average equivalent shares Shares of common stock Effect of dilutive stock based compensation Stock options — — Restricted stock — — Total average equivalent shares Net income per share $ $ $ $ Nine Months Ended September 30, 2016 September 30, 2015 Diluted Basic Diluted Basic Consolidated operations Income available to common shareholders $ $ $ $ Average equivalent shares Shares of common stock Effect of dilutive stock based compensation Stock options — — Restricted stock — — Total average equivalent shares Net income per share $ $ $ $

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	9 Months Ended
	Sep. 30, 2016
SEGMENT INFORMATION
Financial information regarding the Company's reportable segments	Three Months Ended September 30, Nine Months Ended September 30, Total Sales: Beauty + Home $ $ $ $ Pharma Food + Beverage Total Sales Less: Intersegment Sales: Beauty + Home $ $ $ $ Pharma — — — Food + Beverage Total Intersegment Sales $ $ $ $ Net Sales: Beauty + Home $ $ $ $ Pharma Food + Beverage Net Sales $ $ $ $ Segment Income (1): Beauty + Home $ $ $ $ Pharma Food + Beverage Corporate & Other Income before interest and taxes $ $ $ $ Interest expense, net Income before income taxes $ $ $ $ (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 and income taxes.

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	9 Months Ended
	Sep. 30, 2016
ACQUISITIONS
Summary of assets acquired and liabilities assumed at estimated fair value	February 29, 2016 Assets Cash and equivalents $ Accounts receivable Inventories Prepaid and other Property, plant and equipment Goodwill Intangible assets Other miscellaneous assets Liabilities Current maturities of long-term obligations Accounts payable and accrued liabilities Long-term obligations Deferred income taxes Net assets acquired $
Summary of the fair value estimates of the acquired identifiable intangible assets and weighted-average useful lives as of the acquisition date	Weighted-Average Estimated Useful Life Fair Value (in years) of Asset Customer relationships $ Technology Trademark Total $
Schedule of unaudited pro forma financial information	Three Months Ended September 30, Nine Months Ended September 30, ($ millions) Net Sales $ $ $ $ Net Income Attributable to AptarGroup Inc. Net Income per common share — basic Net Income per common share — diluted

SUMMARY OF SIGNIFICANT ACCOUN36

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($) $ / shares in Units, $ in Thousands, shares in Millions	3 Months Ended	9 Months Ended
	Jun. 30, 2015	Sep. 30, 2016	Dec. 31, 2015
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Intangible assets		$ 101,959	$ 31,529
Long-term obligations		$ 776,766	$ 760,848
RETIREMENT OF COMMON STOCK
Common stock repurchased and retired (in shares)		1.1
Common stock, par value (in dollars per share)		$ 0.01	$ 0.01
Accounting Standards Update 201503
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Intangible assets			$ (1,700)
Long-term obligations			$ (1,700)
Accounting principle change
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Cumulative pre-tax effect	$ 7,400
Effect of change on net income attributable to AptarGroup	$ 4,800
Effect of change on net income attributable to AptarGroup per diluted share	$ 0.08

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Inventories, by component
Raw materials	$ 99,050	$ 91,214
Work in process	103,970	90,625
Finished goods	119,008	113,073
Total	$ 322,028	$ 294,912

GOODWILL AND OTHER INTANGIBLE38

GOODWILL AND OTHER INTANGIBLE ASSETS (Schedule of Goodwill) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Changes in the carrying amount of goodwill
Goodwill	$ 426,395	$ 311,855
Accumulated impairment losses	(1,615)	(1,615)
Goodwill, Total	424,780	310,240
Acquisition	105,562
Foreign currency exchange effects	8,978
Operating segment | Beauty + Home
Changes in the carrying amount of goodwill
Goodwill	217,320	164,590
Goodwill, Total	217,320	164,590
Acquisition	49,735
Foreign currency exchange effects	2,995
Operating segment | Pharma
Changes in the carrying amount of goodwill
Goodwill	190,986	129,360
Goodwill, Total	190,986	129,360
Acquisition	55,827
Foreign currency exchange effects	5,799
Operating segment | Food + Beverage
Changes in the carrying amount of goodwill
Goodwill	16,474	16,290
Goodwill, Total	16,474	16,290
Foreign currency exchange effects	184
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 INTANGIBLE39

GOODWILL AND OTHER INTANGIBLE ASSETS (Summary of Intangible Assets) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Amortized intangible assets:
Gross Carrying Amount	$ 149,195		$ 149,195		$ 75,016
Accumulated Amortization	(47,236)		(47,236)		(43,487)
Net Value	101,959		101,959		31,529
Aggregate amortization expense	2,553	$ 1,071	6,788	$ 3,237
Future estimated amortization expense
2,016	2,586		2,586
2,017	12,556		12,556
2,018	10,131		10,131
2,019	9,930		9,930
2020 and thereafter	66,756		$ 66,756
Weighted Average
Amortized intangible assets:
Amortization Period			10 years 8 months 12 days
Patents
Amortized intangible assets:
Gross Carrying Amount	15,812		$ 15,812		15,358
Accumulated Amortization	(15,788)		(15,788)		(15,330)
Net Value	24		$ 24		28
Patents | Weighted Average
Amortized intangible assets:
Amortization Period			1 month 6 days
Technology
Amortized intangible assets:
Gross Carrying Amount	44,496		$ 44,496		32,030
Accumulated Amortization	(9,960)		(9,960)		(7,475)
Net Value	34,536		$ 34,536		24,555
Technology | Weighted Average
Amortized intangible assets:
Amortization Period			14 years 10 months 24 days
Customer relationships
Amortized intangible assets:
Gross Carrying Amount	65,789		$ 65,789		6,406
Accumulated Amortization	(5,599)		(5,599)		(1,493)
Net Value	60,190		$ 60,190		4,913
Customer relationships | Weighted Average
Amortized intangible assets:
Amortization Period			11 years 9 months 18 days
License agreements and other
Amortized intangible assets:
Gross Carrying Amount	23,098		$ 23,098		21,222
Accumulated Amortization	(15,889)		(15,889)		(19,189)
Net Value	$ 7,209		$ 7,209		$ 2,033
License agreements and other | Weighted Average
Amortized intangible assets:
Amortization Period			6 years 10 months 24 days

INCOME TAX UNCERTAINTIES (Detai

INCOME TAX UNCERTAINTIES (Details) - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
INCOME TAX UNCERTAINTIES
Income tax uncertainties	$ 9.1	$ 7.9
Amount of income tax uncertainties that, if recognized, would impact the effective tax rate	9.1	$ 7.9
Decrease in liability for uncertain tax positions, high end of range	$ 7

LONG-TERM OBLIGATIONS (Details)

LONG-TERM OBLIGATIONS (Details) $ in Thousands	1 Months Ended
	Feb. 28, 2015USD ($)	Dec. 31, 2014USD ($)item	Sep. 30, 2016USD ($)	Dec. 31, 2015USD ($)
Long-Term Obligations
Proceeds from private placement		$ 475,000
Number of maturity tranches in funding of private placement | item		2
Long-term obligations gross including current maturities			$ 781,499	$ 814,413
Current maturities of long-term obligations			(3,228)	(51,889)
Total long-term obligations			778,271	762,524
Deferred Finance Costs, Net, Total			1,505	1,681
Deferred debt issuance costs current				(5)
Deferred debt issuance costs noncurrent			1,505	1,676
Long-term obligations including current maturities			779,994	812,732
Current maturities of long-term obligations			(3,228)	(51,884)
Long-term obligations			776,766	760,848
Aggregate long-term maturities, excluding capital lease obligations
2,016			2,707
2,017			3,603
2,018			78,604
2,019			4,686
2,020			85,816
Thereafter			604,226
Notes payable
Long-Term Obligations
Proceeds from debt	$ 225,000	$ 250,000
Notes payable 0.61% - 16.00%, due in monthly and annual installments through 2027
Long-Term Obligations
Long-term obligations gross including current maturities			20,641	3,785
Long-term obligations including current maturities			$ 20,641	$ 3,785
Notes payable 0.61% - 16.00%, due in monthly and annual installments through 2027 | Minimum
Long-Term Obligations
Interest rate on notes (as a percent)			0.61%	0.61%
Notes payable 0.61% - 16.00%, due in monthly and annual installments through 2027 | Maximum
Long-Term Obligations
Interest rate on notes (as a percent)			16.00%	14.50%
Senior unsecured notes 6.0% due in 2016
Long-Term Obligations
Long-term obligations gross including current maturities				$ 50,000
Deferred Finance Costs, Net, Total				5
Long-term obligations including current maturities				$ 49,995
Interest rate on notes (as a percent)				6.00%
Senior unsecured notes 6.0%, due in 2018
Long-Term Obligations
Long-term obligations gross including current maturities			$ 75,000	$ 75,000
Deferred Finance Costs, Net, Total			44	63
Long-term obligations including current maturities			$ 74,956	$ 74,937
Interest rate on notes (as a percent)			6.00%	6.00%
Senior unsecured notes 3.8%, due in 2020
Long-Term Obligations
Long-term obligations gross including current maturities			$ 84,000	$ 84,000
Deferred Finance Costs, Net, Total			128	150
Long-term obligations including current maturities			$ 83,872	$ 83,850
Interest rate on notes (as a percent)			3.80%	3.80%
Senior unsecured notes 3.2%, due in 2022
Long-Term Obligations
Long-term obligations gross including current maturities			$ 75,000	$ 75,000
Deferred Finance Costs, Net, Total			144	163
Long-term obligations including current maturities			$ 74,856	$ 74,837
Interest rate on notes (as a percent)			3.20%	3.20%
Senior unsecured notes 3.5%, due in 2023
Long-Term Obligations
Term of debt		9 years
Long-term obligations gross including current maturities			$ 125,000	$ 125,000
Deferred Finance Costs, Net, Total			265	293
Long-term obligations including current maturities			$ 124,735	$ 124,707
Interest rate on notes (as a percent)			3.49%	3.49%
Senior unsecured notes 3.4%, due in 2024
Long-Term Obligations
Long-term obligations gross including current maturities			$ 50,000	$ 50,000
Deferred Finance Costs, Net, Total			107	118
Long-term obligations including current maturities			$ 49,893	$ 49,882
Interest rate on notes (as a percent)			3.40%	3.40%
Senior unsecured notes 3.5%, due in 2024
Long-Term Obligations
Term of debt	9 years
Long-term obligations gross including current maturities			$ 100,000	$ 100,000
Deferred Finance Costs, Net, Total			265	293
Long-term obligations including current maturities			$ 99,735	$ 99,707
Interest rate on notes (as a percent)			3.49%	3.49%
Senior unsecured notes 3.6%, due in 2025
Long-Term Obligations
Term of debt		11 years
Long-term obligations gross including current maturities			$ 125,000	$ 125,000
Deferred Finance Costs, Net, Total			276	298
Long-term obligations including current maturities			$ 124,724	$ 124,702
Interest rate on notes (as a percent)			3.61%	3.61%
Senior unsecured notes 3.6%, due in 2026
Long-Term Obligations
Term of debt	11 years
Long-term obligations gross including current maturities			$ 125,000	$ 125,000
Deferred Finance Costs, Net, Total			276	298
Long-term obligations including current maturities			$ 124,724	$ 124,702
Interest rate on notes (as a percent)			3.61%	3.61%
Capital lease obligations
Long-Term Obligations
Long-term obligations gross including current maturities			$ 1,858	$ 1,628
Long-term obligations including current maturities			$ 1,858	$ 1,628

RETIREMENT AND DEFERRED COMPE42

RETIREMENT AND DEFERRED COMPENSATION PLANS (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2016	Mar. 31, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Domestic Plans
Change in benefit obligation:
Service cost	$ 2,261		$ 2,504	$ 6,781	$ 7,512
Interest cost	1,694		1,589	5,082	4,767
Change in plan assets:
Employer contribution		$ 10,000
Components of net periodic benefit cost:
Service cost	2,261		2,504	6,781	7,512
Interest cost	1,694		1,589	5,082	4,767
Expected return on plan assets	(2,118)		(1,898)	(6,353)	(5,693)
Amortization of net loss	820		1,351	2,462	4,053
Net periodic benefit cost	2,657		3,546	7,972	10,639
Minimum funding requirements				0
Foreign Plans
Change in benefit obligation:
Service cost	1,148		1,145	3,449	3,444
Interest cost	477		414	1,432	1,246
Change in plan assets:
Employer contribution				1,500
Components of net periodic benefit cost:
Service cost	1,148		1,145	3,449	3,444
Interest cost	477		414	1,432	1,246
Expected return on plan assets	(550)		(449)	(1,651)	(1,351)
Amortization of net loss	388		420	1,165	1,263
Amortization of prior service cost	89		64	265	193
Net periodic benefit cost	$ 1,552		$ 1,594	4,660	$ 4,795
Expected contribution in current fiscal year				$ 4,500

ACCUMULATED OTHER COMPREHENSI43

ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Accumulated other comprehensive income activity
Balance at the beginning of the period	$ 1,149,411
Balance at the end of the period	1,286,051
Foreign Currency
Accumulated other comprehensive income activity
Balance at the beginning of the period	(206,725)	$ (42,851)
Other comprehensive income (loss) before reclassifications	44,329	(115,022)
Amounts reclassified from accumulated other comprehensive income	(82)
Net current-period other comprehensive income (loss)	44,247	(115,022)
Balance at the end of the period	(162,478)	(157,873)
Defined Benefit Pension Plans
Accumulated other comprehensive income activity
Balance at the beginning of the period	(55,550)	(67,097)
Amounts reclassified from accumulated other comprehensive income	2,511	3,516
Net current-period other comprehensive income (loss)	2,511	3,516
Balance at the end of the period	(53,039)	(63,581)
Other
Accumulated other comprehensive income activity
Balance at the beginning of the period	(72)	(97)
Amounts reclassified from accumulated other comprehensive income	19	19
Net current-period other comprehensive income (loss)	19	19
Balance at the end of the period	(53)	(78)
Accumulated Other Comprehensive Income/(Loss)
Accumulated other comprehensive income activity
Balance at the beginning of the period	(262,347)	(110,045)
Other comprehensive income (loss) before reclassifications	44,329	(115,022)
Amounts reclassified from accumulated other comprehensive income	2,448	3,535
Net current-period other comprehensive income (loss)	46,777	(111,487)
Balance at the end of the period	$ (215,570)	$ (221,532)

ACCUMULATED OTHER COMPREHENSI44

ACCUMULATED OTHER COMPREHENSIVE INCOME (Reclassifications From Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Amount Reclassified from Accumulated Other Comprehensive Income
Interest expense	$ 8,753	$ 8,948	$ 26,547	$ 25,446
Net loss on derivatives	(715)	(1,762)	(1,759)	(4,598)
Miscellaneous, net	(728)	1,285	995	2,752
Total before tax	(75,001)	(79,377)	(219,204)	(232,827)
Tax benefit	21,901	26,115	63,187	76,925
Total reclassifications for the period	(53,098)	(53,247)	(156,009)	(155,957)
Amount Reclassified from Accumulated Other Comprehensive Income
Amount Reclassified from Accumulated Other Comprehensive Income
Total reclassifications for the period	761	1,180	2,448	3,535
Defined Benefit Pension Plans | Amount Reclassified from Accumulated Other Comprehensive Income
Amount Reclassified from Accumulated Other Comprehensive Income
Amortization of net loss	1,208	1,771	3,627	5,316
Amortization of prior service cost	89	64	265	193
Total before tax	1,297	1,835	3,892	5,509
Tax benefit	(460)	(661)	(1,381)	(1,993)
Total reclassifications for the period	837	1,174	2,511	3,516
Foreign Currency | Amount Reclassified from Accumulated Other Comprehensive Income
Amount Reclassified from Accumulated Other Comprehensive Income
Miscellaneous, net	(82)		(82)
Total before tax	(82)		(82)
Total reclassifications for the period	(82)		(82)
Other | Treasury locks | Amount Reclassified from Accumulated Other Comprehensive Income
Amount Reclassified from Accumulated Other Comprehensive Income
Interest expense	10	10	30	29
Total before tax	10	10	30	29
Tax benefit	(4)	(4)	(11)	(10)
Total reclassifications for the period	$ 6	$ 6	$ 19	$ 19

DERIVATIVE INSTRUMENTS AND HE45

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Fair Value of Derivative Instruments in the Consolidated Balance Sheets) (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Fair Value of Derivative Instruments
Aggregate amount of forward exchange contracts outstanding	$ 107,500
Derivative Assets	612	$ 2,036
Derivative Liabilities	1,285	1,197
Derivative Contracts Not Designated as Hedging Instruments
Fair Value of Derivative Instruments
Derivative Assets	612	2,036
Derivative Liabilities	1,285	1,197
Derivative Contracts Not Designated as Hedging Instruments | Foreign Exchange Contracts | Prepaid and other
Fair Value of Derivative Instruments
Derivative Assets	612	1,924
Derivative Contracts Not Designated as Hedging Instruments | Foreign Exchange Contracts | Miscellaneous Other Assets
Fair Value of Derivative Instruments
Derivative Assets		112
Derivative Contracts Not Designated as Hedging Instruments | Foreign Exchange Contracts | Accounts payable and accrued liabilities
Fair Value of Derivative Instruments
Derivative Liabilities	$ 1,285	1,152
Derivative Contracts Not Designated as Hedging Instruments | Foreign Exchange Contracts | Deferred and other non-current liabilities
Fair Value of Derivative Instruments
Derivative Liabilities		$ 45

DERIVATIVE INSTRUMENTS AND HE46

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Effect of Derivative Instruments on the Consolidated Statements of Income) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Derivative instruments, gain or (loss)
Foreign Exchange Contract, Amount of Gain (Loss) Recognized in Income on Derivative, not designated as hedging instruments	$ 3,191	$ 5,924	$ (1,875)	$ 5,876
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	$ 3,191	$ 5,924	$ (1,875)	$ 5,876

DERIVATIVE INSTRUMENTS AND HE47

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Schedule of Derivative Assets and Liabilities) (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Derivative Assets
Gross Amount	$ 612	$ 2,036
Net Amounts Presented in the Statement of Financial Position	612	2,036
Net Amount	612	2,036
Derivative Liabilities
Gross Amount	1,285	1,197
Net Amounts Presented in the Statement of Financial Position	1,285	1,197
Net Amount	$ 1,285	$ 1,197

FAIR VALUE (Details)

FAIR VALUE (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Liabilities
Fair value of long-term obligations	$ 803,000	$ 760,000
Assets and liabilities measured at fair value on recurring basis
Assets
Forward exchange contracts, assets	612	2,036
Total assets at fair value	612	2,036
Liabilities
Forward exchange contracts, liabilities	1,285	1,197
Total liabilities at fair value	1,285	1,197
Assets and liabilities measured at fair value on recurring basis | Level 2
Assets
Forward exchange contracts, assets	612	2,036
Total assets at fair value	612	2,036
Liabilities
Forward exchange contracts, liabilities	1,285	1,197
Total liabilities at fair value	$ 1,285	$ 1,197

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Indemnification agreements
Commitments and contingencies
Liabilities recorded under indemnification agreements	$ 0	$ 0

STOCK REPURCHASE PROGRAM (Detai

STOCK REPURCHASE PROGRAM (Details) - USD ($) shares in Thousands, $ in Thousands	Sep. 25, 2015	Dec. 17, 2014	Sep. 30, 2016	Sep. 30, 2016	Sep. 25, 2015	Oct. 20, 2016	Dec. 16, 2014	Oct. 30, 2014
Stock repurchase program
Common stock repurchased and retired (in shares)				1,100
Common stock repurchased and retired				$ 84,790
Stock Repurchase Program October 30, 2014
Stock repurchase program
Share repurchases authorized amount								$ 350,000
Common stock repurchased and retired (in shares)			463	1,100
Common stock repurchased and retired			$ 36,100	$ 84,800
Remaining authorized repurchase amount			$ 1,300	$ 1,300
Stock Repurchase Program October 20, 2016
Stock repurchase program
Share repurchases authorized amount						$ 350,000
ASR Program
Stock repurchase program
Share repurchases authorized amount							$ 250,000
Aggregate amount of share repurchases (in dollars)		$ 250,000
Number of shares repurchased	719	3,100			3,800

STOCK-BASED COMPENSATION (Detai

STOCK-BASED COMPENSATION (Details) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
STOCK-BASED COMPENSATION
Proceeds from stock option exercises	$ 47,563	$ 40,253
Stock options
STOCK-BASED COMPENSATION
Award vesting period	3 years
Expiration period	10 years
Compensation expense	$ 15,500	14,900
Fair value of shares vested	17,200	16,100
Proceeds from stock option exercises	47,600
Actual tax benefit realized for the tax deduction from option exercises	12,000
Unrecognized compensation cost expected to be recognized in future periods	$ 16,100
Weighted-average period over which compensation cost is expected to be recognized	1 year 6 months
Stock options | Selling, research & development and administrative expenses
STOCK-BASED COMPENSATION
Compensation expense	$ 13,700	13,200
Restricted stock units
STOCK-BASED COMPENSATION
Compensation expense	2,300	2,300
Unrecognized compensation cost expected to be recognized in future periods	$ 1,800
Weighted-average period over which compensation cost is expected to be recognized	1 year 2 months 12 days
Weighted-Average Grant-Date Fair Value
Fair value of units vested	$ 1,900	757
Intrinsic value of units vested	$ 2,300	$ 877
Stock Awards Plans | Stock options
STOCK-BASED COMPENSATION
Weighted-average fair value of stock options granted (in dollars per share)	$ 12.87	$ 12.83
Assumptions used to estimate fair value of stock options granted
Dividend Yield (as a percent)	1.80%	1.70%
Expected Stock Price Volatility (as a percent)	20.40%	21.90%
Risk-free Interest Rate (as a percent)	1.60%	1.60%
Expected Life of Option (years)	6 years 8 months 12 days	6 years 10 months 24 days
Stock options activity
Outstanding at the beginning of the period (in shares)	8,032,030
Granted (in shares)	1,481,180
Exercised (in shares)	(1,149,958)
Forfeited or expired (in shares)	(130,374)
Outstanding at the end of the period (in shares)	8,232,878
Exercisable at the end of the period (in shares)	5,463,806
Weighted Average Exercise Price
Outstanding at the beginning of the period (in dollars per share)	$ 51.44
Granted (in dollars per share)	71.17
Exercised (in dollars per share)	42.83
Forfeited or expired (in dollars per share)	62.29
Outstanding at the end of the period (in dollars per share)	56.02
Exercisable at the end of the period (in dollars per share)	$ 49.66
Weighted-Average Remaining Contractual Term (Years):
Outstanding at the end of the period	6 years 3 months 18 days
Exercisable at the end of the period	5 years
Aggregate Intrinsic Value:
Outstanding at the end of the period	$ 176,104
Exercisable at the end of the period	151,634
Intrinsic Value of Options Exercised	$ 38,514	$ 31,920
Stock Awards Plans | Restricted stock units
STOCK-BASED COMPENSATION
Award vesting period	3 years
Restricted stock unit activity
Balance at the beginning of the period (in shares)	66,376
Granted (in shares)	21,754
Vested (in shares)	(11,371)
Forfeited (in shares)	(4,632)
Balance at the end of the period (in shares)	72,127
Weighted-Average Grant-Date Fair Value
Nonvested at the beginning of the period (in dollars per share)	$ 66.61
Granted (in dollars per share)	73.45
Vested (in dollars per share)	61.96
Forfeited (in dollars per share)	68
Nonvested at the end of the period (in dollars per share)	$ 69.31
Director Stock Option Plans | Stock options
Stock options activity
Outstanding at the beginning of the period (in shares)	303,501
Exercised (in shares)	(22,167)
Outstanding at the end of the period (in shares)	281,334
Exercisable at the end of the period (in shares)	255,998
Weighted Average Exercise Price
Outstanding at the beginning of the period (in dollars per share)	$ 56
Exercised (in dollars per share)	50.37
Outstanding at the end of the period (in dollars per share)	56.45
Exercisable at the end of the period (in dollars per share)	$ 55.44
Weighted-Average Remaining Contractual Term (Years):
Outstanding at the end of the period	6 years 1 month 6 days
Exercisable at the end of the period	6 years
Aggregate Intrinsic Value:
Outstanding at the end of the period	$ 5,897
Exercisable at the end of the period	5,623
Intrinsic Value of Options Exercised	$ 536	1,449
Director Stock Option Plans | Restricted stock units
Restricted stock unit activity
Balance at the beginning of the period (in shares)	18,857
Granted (in shares)	15,745
Vested (in shares)	(18,857)
Balance at the end of the period (in shares)	15,745
Weighted-Average Grant-Date Fair Value
Nonvested at the beginning of the period (in dollars per share)	$ 63.10
Granted (in dollars per share)	75.56
Vested (in dollars per share)	63.10
Nonvested at the end of the period (in dollars per share)	$ 75.56
New long-term incentive program
STOCK-BASED COMPENSATION
Compensation expense	$ 973	$ 857
Performance period used to measure cumulative total shareholder return of common stock	3 years
Expected total expense related to program over the performance period	$ 3,700

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Income (Numerator)
Income available to common stockholders (in dollars)	$ 53,098	$ 53,247	$ 156,009	$ 155,957
Shares (Denominator)
Basic (in shares)	62,858	62,886	62,878	62,627
Total average equivalent shares	64,690	64,454	64,989	64,609
Per Share Amount
Net income per share, basic (in dollars per share)	$ 0.84	$ 0.85	$ 2.48	$ 2.49
Net income per share, diluted (in dollars per share)	$ 0.82	$ 0.83	$ 2.40	$ 2.41
Stock options
Shares (Denominator)
Effect of dilutive stock based compensation (in shares)	1,791	1,544	2,059	1,947
Restricted stock units
Shares (Denominator)
Effect of dilutive stock based compensation (in shares)	41	24	52	35

SEGMENT INFORMATION (Summary of

SEGMENT INFORMATION (Summary of Reportable Segments) (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)segment	Sep. 30, 2015USD ($)	Dec. 31, 2015USD ($)
Financial information regarding the Company's reportable segments
Number of reportable segments | segment			3
Net Sales	$ 589,729	$ 586,290	$ 1,792,066	$ 1,770,376
Income before interest and taxes	83,039	86,563	243,992	253,675
Interest expense, net	(8,038)	(7,186)	(24,788)	(20,848)
Income before Income Taxes	75,001	79,377	219,204	232,827
Depreciation and Amortization	39,667	35,439	115,944	103,664
Capital Expenditures			92,366	106,228
Total Assets	2,684,882		2,684,882		$ 2,437,045
Beauty + Home
Financial information regarding the Company's reportable segments
Net Sales	316,030	321,638	970,687	970,176
Income before interest and taxes	25,380	27,961	79,455	78,529
Pharma
Financial information regarding the Company's reportable segments
Net Sales	191,194	175,427	565,363	537,396
Income before interest and taxes	55,037	52,941	166,870	160,404
Food + Beverage
Financial information regarding the Company's reportable segments
Net Sales	82,505	89,225	256,016	262,804
Income before interest and taxes	10,101	13,236	32,977	37,277
Corporate & Other
Financial information regarding the Company's reportable segments
Income before interest and taxes	(7,479)	(7,575)	(35,310)	(22,535)
Operating segment
Financial information regarding the Company's reportable segments
Net Sales	593,386	592,118	1,806,806	1,787,665
Operating segment | Beauty + Home
Financial information regarding the Company's reportable segments
Net Sales	319,244	326,967	984,008	986,502
Operating segment | Pharma
Financial information regarding the Company's reportable segments
Net Sales	191,190	175,427	565,363	537,396
Operating segment | Food + Beverage
Financial information regarding the Company's reportable segments
Net Sales	82,952	89,724	257,435	263,767
Intersegment
Financial information regarding the Company's reportable segments
Net Sales	3,657	5,828	14,740	17,289
Intersegment | Beauty + Home
Financial information regarding the Company's reportable segments
Net Sales	3,214	5,329	13,321	16,326
Intersegment | Pharma
Financial information regarding the Company's reportable segments
Net Sales	(4)
Intersegment | Food + Beverage
Financial information regarding the Company's reportable segments
Net Sales	$ 447	$ 499	$ 1,419	$ 963

INSURANCE SETTLEMENT RECEIVAB54

INSURANCE SETTLEMENT RECEIVABLE (Details) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2016USD ($)	Sep. 30, 2016USD ($)
Brazil
INSURANCE SETTLEMENT RECEIVABLE
Insurance receivable	$ 2.3	$ 2.3
Beauty + Home | France
INSURANCE SETTLEMENT RECEIVABLE
Costs related to fire	4.9	5.5
Advances on insurance proceeds received	2.2	2.2
Insurance receivable	1.9	1.9
Gain contingencies recognized	$ 0	0
Net expenses related to fire		$ 1.4

ACQUISITIONS (Details)

ACQUISITIONS (Details) $ in Thousands	Feb. 29, 2016USD ($)item	Sep. 30, 2016USD ($)	Sep. 30, 2016USD ($)	Dec. 31, 2015USD ($)
Acquisitions
Acquisition of business, net of cash received			$ 202,985
Assets
Goodwill		$ 424,780	424,780	$ 310,240
Mega Airless
Acquisitions
Acquisition of business, net of cash received	$ 203,000
Cost of acquired entity	223,200
Sales of acquiree during the reporting period		18,300	42,900
Pretax income of acquiree during the reporting period		2,200	2,100
Acquisition costs			$ 5,600
Assets
Cash and equivalents	20,197
Accounts receivable	8,275
Inventories	8,373
Prepaid and other	378
Property, plant and equipment	47,768
Goodwill	105,561
Intangible assets	72,106
Other miscellaneous assets	8
Liabilities
Current maturities of long-term obligations	319
Accounts payable and accrued liabilities	7,398
Long-term obligations	13,402
Deferred income taxes	18,366
Net assets acquired	$ 223,181
Carrying amount adjustments related to fair value adjustments
Deferred income tax liabilities carrying amount adjustment		(400)
Goodwill carrying amount adjustment		$ (400)
Germany | Mega Airless
Acquisitions
Number of manufacturing plants acquired | item	2
United States | Mega Airless
Acquisitions
Number of manufacturing plants acquired | item	1
Beauty + Home | Mega Airless
Assets
Goodwill	$ 49,800
Pharma | Mega Airless
Assets
Goodwill	$ 55,800

ACQUISITIONS (Acquired Intangib

ACQUISITIONS (Acquired Intangibles) (Details) - Mega Airless $ in Thousands	Feb. 29, 2016USD ($)
Acquired finite-lived intangible assets
Estimated Fair Value of Asset	$ 72,106
Customer relationships
Acquired finite-lived intangible assets
Weighted average useful life	11 years
Estimated Fair Value of Asset	$ 57,120
Technology
Acquired finite-lived intangible assets
Weighted average useful life	15 years
Estimated Fair Value of Asset	$ 10,838
Trademark
Acquired finite-lived intangible assets
Weighted average useful life	4 years
Estimated Fair Value of Asset	$ 4,148

ACQUISITIONS (Pro Forma) (Detai

ACQUISITIONS (Pro Forma) (Details) - Mega Airless - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Unaudited pro forma financial information
Net Sales	$ 590	$ 604	$ 1,802	$ 1,823
Net Income Attributable to AptarGroup, Inc.	$ 53	$ 54	$ 163	$ 151
Net Income per common share - basic	$ 0.85	$ 0.86	$ 2.59	$ 2.42
Net Income per common share - diluted	$ 0.83	$ 0.84	$ 2.51	$ 2.34
Acquisition Related Costs
Acquisitions
Transaction costs excluded from supplemental pro forma earnings (after tax)			$ 4.2
Transaction costs excluded from supplemental pro forma earnings (before tax)			5.6
Fair Value Adjustment
Acquisitions
Nonrecurring expense related to the fair value adjustment to acquisition-date inventory excluded from supplemental pro forma earnings (after tax)			1.7
Nonrecurring expense related to the fair value adjustment to acquisition-date inventory excluded from supplemental pro form earnings (before tax)			$ 2.6