AptarGroup (ATR) 10-Q 1 May 20 2020 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2020	Apr. 24, 2020
Document and Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2020
Entity File Number	1-11846
Entity Registrant Name	APTARGROUP INC
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	36-3853103
Entity Address, Address Line One	265 EXCHANGE DRIVE
Entity Address, Address Line Two	SUITE 100
Entity Address, City or Town	CRYSTAL LAKE
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60014
City Area Code	815
Local Phone Number	477-0424
Title of 12(b) Security	Common Stock, $.01 par value
Trading Symbol	ATR
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		64,186,756
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Entity Central Index Key	0000896622
Amendment Flag	false

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
Net sales	$ 721,553	$ 744,460
Operating Expenses:
Cost of sales (exclusive of depreciation and amortization shown below)	451,256	469,132
Selling, research & development and administrative	126,192	121,215
Depreciation and amortization	50,806	47,489
Restructuring initiatives	4,839	9,530
Total Operating Expenses	633,093	647,366
Operating Income	88,460	97,094
Other (Expense) Income:
Interest expense	(8,388)	(9,214)
Interest income	175	1,748
Equity in results of affiliates	(799)	(95)
Miscellaneous, net	(1,412)	466
Total Other Income (Expense)	(10,424)	(7,095)
Income before Income Taxes	78,036	89,999
Provision for Income Taxes	22,786	27,000
Net Income	55,250	62,999
Net (Income) Loss Attributable to Noncontrolling Interests	3	5
Net Income Attributable to AptarGroup, Inc.	$ 55,253	$ 63,004
Net Income Attributable to AptarGroup, Inc. Per Common Share:
Basic (in dollars per share)	$ 0.86	$ 1
Diluted (in dollars per share)	$ 0.84	$ 0.96
Average number of shares outstanding:
Basic (in shares)	64,009	62,964
Diluted (in shares)	66,111	65,349
Dividends per Common Share (in dollars per share)	$ 0.36	$ 0.34

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Net Income	$ 55,250	$ 62,999
Other Comprehensive Income (Loss):
Foreign currency translation adjustments	(42,229)	(9,611)
Gain (loss) on derivatives, net of tax	1,483	(393)
Defined benefit pension plan, net of tax
Amortization of prior service cost included in net income, net of tax	71	84
Amortization of net loss included in net income, net of tax	1,565	637
Total defined benefit pension plan, net of tax	1,636	721
Total other comprehensive income (loss)	(39,110)	(9,283)
Comprehensive Income	16,140	53,716
Comprehensive (Income) Loss Attributable to Noncontrolling Interests	3	(3)
Comprehensive Income Attributable to AptarGroup, Inc.	$ 16,143	$ 53,713

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Current Assets:
Cash and equivalents	$ 410,840	$ 241,970
Accounts and notes receivable, less current expected credit loss ("CECL") of $5,657 in 2020 and $3,626 in 2019	602,027	558,428
Inventories	371,859	375,795
Prepaid and other	129,926	115,048
Total Current Assets	1,514,652	1,291,241
Property, Plant and Equipment:
Buildings and improvements	502,706	504,328
Machinery and equipment	2,506,084	2,521,737
Property, Plant and Equipment, Gross	3,008,790	3,026,065
Less: Accumulated depreciation	(1,961,683)	(1,963,520)
Property, Plant and Equipment, Net	1,047,107	1,062,545
Land	24,312	25,133
Total Property, Plant and Equipment	1,071,419	1,087,678
Other Assets:
Investments in equity securities	39,167	8,396
Goodwill	756,081	763,461
Intangible assets	284,121	291,084
Operating lease right-of-use assets	65,925	72,377
Miscellaneous	45,187	47,882
Total Other Assets	1,190,481	1,183,200
Total Assets	3,776,552	3,562,119
Current Liabilities:
Notes payable, revolving credit facility and overdrafts	220,511	44,259
Current maturities of long-term obligations, net of unamortized debt issuance costs	65,049	65,988
Accounts payable, accrued and other liabilities	605,738	573,028
Total Current Liabilities	891,298	683,275
Long-term obligations, net of unamortized debt issuance costs	1,075,745	1,085,453
Deferred Liabilities and Other:
Deferred income taxes	39,795	41,388
Retirement and deferred compensation plans	104,140	101,225
Operating lease liabilities	49,004	55,276
Deferred and other non-current liabilities	28,947	23,250
Commitments and contingencies
Total Deferred Liabilities and Other	221,886	221,139
AptarGroup, Inc. stockholders' equity
Common stock, $.01 par value, 199 million shares authorized, 68.9 and 68.6 million shares issued as of March 31, 2020 and December 31, 2019, respectively	689	686
Capital in excess of par value	785,567	770,596
Retained earnings	1,554,665	1,523,820
Accumulated other comprehensive (loss)	(381,058)	(341,948)
Less treasury stock at cost, 4.7 and 4.8 million shares as of March 31, 2020 and December 31, 2019, respectively	(372,573)	(381,238)
Total AptarGroup, Inc. Stockholders' Equity	1,587,290	1,571,916
Noncontrolling interests in subsidiaries	333	336
Total Stockholders' Equity	1,587,623	1,572,252
Total Liabilities and Stockholders' Equity	$ 3,776,552	$ 3,562,119

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands, shares in Millions	Mar. 31, 2020	Dec. 31, 2019
CONDENSED CONSOLIDATED BALANCE SHEETS
Accounts and notes receivable, allowance for doubtful accounts (in dollars)	$ 5,657	$ 3,626
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	199	199
Common stock, shares issued	68.9	68.6
Treasury stock, shares	4.7	4.8

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, 2018	$ 1,371,826	$ (310,504)	$ 673	$ (318,208)	$ 678,769	$ 315	$ 1,422,871
Increase (Decrease) in Stockholders' Equity
Net Income	63,004					(5)	62,999
Foreign currency translation adjustments		(9,619)				8	(9,611)
Changes in unrecognized pension gains (losses) and related amortization, net of tax		721					721
Changes in derivative gains (losses), net of tax		(393)					(393)
Stock awards and option exercises			3	5,337	22,164		27,504
Cash dividends declared on common stock	(21,377)						(21,377)
Treasury stock purchased				(15,000)			(15,000)
Balance at Mar. 31, 2019	1,413,453	(319,795)	676	(327,871)	700,933	318	1,467,714
Balance at Dec. 31, 2019	1,523,820	(341,948)	686	(381,238)	770,596	336	1,572,252
Increase (Decrease) in Stockholders' Equity
Net Income	55,253					(3)	55,250
Adoption of accounting standards | Accounting Standards Update 2016-13	(1,377)						(1,377)
Foreign currency translation adjustments		(42,229)					(42,229)
Changes in unrecognized pension gains (losses) and related amortization, net of tax		1,636					1,636
Changes in derivative gains (losses), net of tax		1,483					1,483
Stock awards and option exercises			3	8,665	14,971		23,639
Cash dividends declared on common stock	(23,031)						(23,031)
Balance at Mar. 31, 2020	$ 1,554,665	$ (381,058)	$ 689	$ (372,573)	$ 785,567	$ 333	$ 1,587,623

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Cash Flows from Operating Activities:
Net income	$ 55,250	$ 62,999
Adjustments to reconcile net income to net cash provided by operations:
Depreciation	42,792	41,487
Amortization	8,014	6,002
Stock based compensation	9,141	6,565
Provision for CECL	1,251	497
(Gain) loss on disposition of fixed assets	54	310
Deferred income taxes	6	671
Defined benefit plan expense	5,775	3,858
Equity in results of affiliates	799	95
Changes in balance sheet items, excluding effects from acquisitions and foreign currency adjustments:
Accounts and other receivables	(64,764)	(35,301)
Inventories	(8,615)	(13,097)
Prepaid and other current assets	(11,787)	(2,282)
Accounts payable, accrued and other liabilities	45,458	6,865
Income taxes payable	(5,278)	3,511
Retirement and deferred compensation plan liabilities	(1,312)	(5,940)
Other changes, net	8,249	1,396
Net Cash Provided by Operations	85,033	77,636
Cash Flows from Investing Activities:
Capital expenditures	(61,625)	(51,742)
Proceeds from sale of property, plant and equipment	166	178
Acquisition of business, release of escrow	(1,463)	(4,036)
Acquisition of intangible assets	(3,955)	(221)
Investment in equity securities	(20,423)
Proceeds from sale of investment in equity securities		16,487
Notes receivable, net	(785)	231
Net Cash Used by Investing Activities	(88,085)	(39,103)
Cash Flows from Financing Activities:
Proceeds from notes payable and overdrafts	8,148	16,783
Repayments of notes payable and overdrafts	(2,030)	(21,130)
Proceeds and repayments of short term credit facility, net	175,000	(78,222)
Proceeds from long-term obligations		10,446
Repayments of long-term obligations	(2,386)	(3,227)
Dividends paid	(23,031)	(21,377)
Proceeds from stock option exercises	18,602	20,939
Purchase of treasury stock		(15,000)
Net Cash Provided (Used) by Financing Activities	174,303	(90,788)
Effect of Exchange Rate Changes on Cash	(3,381)	2,809
Net Increase (Decrease) in Cash and Equivalents and Restricted Cash	167,870	(49,446)
Cash and Equivalents and Restricted Cash at Beginning of Period	246,973	266,823
Cash and Equivalents and Restricted Cash at End of Period	$ 414,843	$ 217,377

CONSOLIDATED STATEMENTS OF CA_2

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019	Dec. 31, 2018
Restricted cash included in the line item prepaid and other on the Condensed Consolidated Balance Sheets as shown below represents amounts held in escrow.
Cash and equivalents	$ 410,840	$ 241,970	$ 217,377
Restricted cash included in prepaid and other	4,003
Total Cash and Equivalents and Restricted Cash shown in the Statement of Cash Flows	$ 414,843	$ 246,973	$ 217,377	$ 266,823

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2020
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”, “Aptar”, “Company”, “we”, “us” or “our” as used herein refer to AptarGroup, Inc. and our subsidiaries. All significant intercompany accounts and transactions have been eliminated. In the opinion of management, the unaudited Condensed Consolidated Financial Statements (the “Condensed Consolidated Financial Statements”) include all normal recurring adjustments necessary for a fair statement of consolidated financial position, results of operations, comprehensive income, changes in equity and cash flows for the interim periods presented. The accompanying Condensed Consolidated Financial Statements have been prepared by the Company, pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) have been condensed or omitted pursuant to such rules and regulations, although we believe that the disclosures made are adequate to make the information presented not misleading. Also, certain financial position data included herein was derived from the audited Consolidated Financial Statements included in our Annual Report on Form 10-K for the year ended December 31, 2019 but does not include all disclosures required by U.S. GAAP. Accordingly, these Condensed Consolidated Financial Statements and related notes should be read in conjunction with the audited Consolidated Financial Statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2019. The results of operations of any interim period are not necessarily indicative of the results that may be expected for the year. There are many uncertainties regarding the current COVID-19 pandemic, including the scope of scientific and health issues, the anticipated duration of the pandemic and the extent of local and worldwide social, political and economic disruption it may cause. The pandemic has impacted our business, operations and financial results during the quarter ended March 31, 2020 including an overall reduction to net sales. No impairments were recorded as of March 31, 2020. While the disruption is currently expected to be temporary, there is uncertainty around the duration. Due to significant uncertainty surrounding the situation, our judgment regarding future results could change and therefore our results could be materially impacted. ​ ADOPTION OF RECENT ACCOUNTING STANDARDS ​ Changes to U.S. GAAP are established by the Financial Accounting Standards Board (“FASB”) in the form of Accounting Standards Updates (“ASUs”) to the FASB’s Accounting Standards Codification. Effective January 1, 2020, we adopted ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, issued by the FASB in June 2016, as well as the clarifying amendments subsequently issued. We applied the guidance using a modified retrospective approach and accordingly recognized an amount of $1.4 million as the cumulative adjustment to opening retained earnings in the first quarter of 2020. This is based on management's best estimates of specific losses on individual exposures particularly on current trade receivables, as well as the time value of money and reasonable and supportable information that is available at the reporting date about past events, current conditions and forecasts of future economic conditions. On an ongoing basis, we will contemplate forward-looking economic conditions in recording lifetime expected credit losses for our financial assets measured at cost, such as our trade receivables and certain other assets. In January 2017, the FASB issued ASU 2017-04, which provides guidance to simplify how an entity is required to test goodwill for impairm ent by eliminating Step 2 from the goodwill impairment test. As a result, impairment charges are required for the amount by which a reporting unit’s carrying amount exceeds its fair value up to the amount of its allocated goodwill. We adopted the standard on January 1, 2020 and did not record any impairment charges. In August 2018, the FASB issued ASU 2018-15 to help entities evaluate the accounting for fees paid by a customer in a cloud computing arrangement (hosting arrangement) by providing guidance for determining when the arrangement includes a software license. The amendments in this update align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). Accordingly, the amendments require an entity (customer) in a hosting arrangement that is a service contract to follow the guidance in Subtopic 350-40 to determine which implementation costs to capitalize as an asset related to the service contract and which costs to expense. The amendments also require the entity (customer) to expense the capitalized implementation costs of a hosting arrangement that is a service contract over the term of the hosting arrangement, which includes reasonably certain renewals. We adopted the standard on January 1, 2020 and no material impacts were noted. In August 2018, the FASB issued ASU 2018-13, which amends disclosure requirements for fair value measurements. The new standard modifies disclosure requirements including removing requirements to disclose the valuation process for Level 3 measurements and adding requirements to disclose the changes in unrealized gains and losses for the period included in other comprehensive income for recurring Level 3 fair value measurements and the range and weighted average of significant unobservable inputs used to develop Level 3 measurements. We adopted the standard on January 1, 2020 and no material impacts were noted. Other accounting standards that have been issued by the FASB or other standards-setting bodies did not have a material impact on our Condensed Consolidated Financial Statements. INCOME TAXES ​ We compute taxes on income in accordance with the tax rules and regulations of the many taxing authorities where the income is earned. The income tax rates imposed by these taxing authorities may vary substantially. Taxable income may differ from pre-tax income for financial accounting purposes. To the extent that these differences create timing differences between the tax basis of an asset or liability and our reported amount in the financial statements, an appropriate provision for deferred income taxes is made. We maintain our assertion that the cash and distributable reserves at our non-U.S. affiliates are indefinitely reinvested. Under current U.S. tax laws, all of our non-U.S. earnings are subject to U.S. taxation. We will provide for the necessary withholding and local income taxes when management decides that an affiliate should make a distribution. These decisions are made taking into consideration the financial requirements of the non-U.S. affiliates and the global cash management goals of the Company. We provide a liability for the amount of unrecognized tax benefits from uncertain tax positions. This liability is provided whenever we determine that a tax benefit will not meet a more-likely-than-not threshold for recognition. The Company is subject to taxation and files income tax returns in the U.S. federal jurisdiction and many state and foreign jurisdictions. The Company believes that an adequate provision has been made for any adjustments that may result from tax examinations. However, the outcome of tax audits cannot be predicted with certainty. If any issues addressed in the Company’s tax audits are resolved in a manner inconsistent with its expectations, the Company could be required to adjust its provision for income taxes in the period such resolution occurs. The resolution of each of these audits is not expected to be material to our Condensed Consolidated Financial Statements. ​

REVENUE

REVENUE	3 Months Ended
	Mar. 31, 2020
REVENUE.
REVENUE	NOTE 2 – REVENUE At contract inception, we assess the goods and services promised in our contracts with customers and identify a performance obligation for each promise to transfer a good or service (or bundle of goods or services) that is distinct. To identify the performance obligations, we consider all the goods or services promised in the contract, whether explicitly stated or implied based on customary business practices. For a contract that has more than one performance obligation, we allocate the total contract consideration to each distinct performance obligation on a relative standalone selling price basis. Revenue is recognized when (or as) the performance obligations are satisfied (i.e., when the customer obtains control of the good or service). The majority of our revenues are derived from product and tooling sales; however, we also receive revenues from service, license, exclusivity and royalty arrangements, which collectively are not material to the year-to-date results. Revenue by segment and geography for the three months ended March 31, 2020 and 2019 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Three Months Ended March 31, 2020 ​ ​ ​ ​ ​ ​ ​ Latin ​ ​ ​ ​ ​ ​ ​ Segment ​ Europe ​ Domestic ​ America ​ Asia ​ Total Beauty + Home ​ $ 186,950 ​ $ 81,845 ​ $ 36,181 ​ $ 19,584 ​ $ 324,560 ​ Pharma ​ ​ 190,130 ​ ​ 90,965 ​ ​ 6,579 ​ ​ 9,522 ​ ​ 297,196 ​ Food + Beverage ​ ​ 28,769 ​ ​ 57,590 ​ ​ 8,034 ​ ​ 5,404 ​ ​ 99,797 ​ Total ​ $ 405,849 ​ $ 230,400 ​ $ 50,794 ​ $ 34,510 ​ $ 721,553 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Three Months Ended March 31, 2019 ​ ​ ​ ​ ​ ​ ​ ​ Latin ​ ​ ​ ​ ​ ​ ​ Segment ​ Europe ​ Domestic ​ America ​ Asia ​ Total ​ Beauty + Home ​ $ 216,233 ​ $ 86,979 ​ $ 42,642 ​ $ 21,805 ​ $ 367,659 ​ Pharma ​ ​ 184,174 ​ ​ 71,772 ​ ​ 7,656 ​ ​ 9,099 ​ ​ 272,701 ​ Food + Beverage ​ ​ 30,961 ​ ​ 55,120 ​ ​ 7,884 ​ ​ 10,135 ​ ​ 104,100 ​ Total ​ $ 431,368 ​ $ 213,871 ​ $ 58,182 ​ $ 41,039 ​ $ 744,460 ​ ​ We perform our obligations under a contract with a customer by transferring goods and/or services in exchange for consideration from the customer. The timing of performance will sometimes differ from the timing of the receipt of the associated consideration from the customer, thus resulting in the recognition of a contract asset or a contract liability. We recognize a contract asset when we transfer control of goods or services to a customer prior to invoicing for the related performance obligation. The contract asset is transferred to accounts receivable when the product is shipped and invoiced to the customer. We recognize a contract liability if the customer's payment of consideration precedes the entity's performance. The opening and closing balances of our contract asset and contract liabilities are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance as of Balance as of ​ Increase/ ​ December 31, 2019 March 31, 2020 (Decrease) Contract asset (current) ​ $ 16,245 ​ $ 13,457 ​ $ (2,788) ​ Contract asset (long-term) ​ $ — ​ $ — ​ $ — ​ Contract liability (current) ​ $ 79,305 ​ $ 78,974 ​ $ (331) ​ Contract liability (long-term) ​ $ 9,779 ​ $ 14,994 ​ $ 5,215 ​ ​ The differences in the opening and closing balances of our contract asset and contract liabilities are primarily the result of timing differences between our performance and the customer’s payment. The total amount of revenue recognized during the current year against contract liabilities is $12.5 million, including $10.6 million relating to contract liabilities at the beginning of the year. Determining the Transaction Price In most cases, the transaction price for each performance obligation is stated in the contract. In determining the variable amounts of consideration within the transaction price (such as volume-based customer rebates), we include an estimate of the expected amount of consideration as revenue. We apply the expected value method based on all of the information (historical, current, and forecast) that is reasonably available and identify reasonable estimates based on this information. We apply the method consistently throughout the contract when estimating the effect of an uncertainty on the amount of variable consideration to which we will be entitled. Product Sales We primarily manufacture and sell dispensing, sealing and active packaging solutions. The amount of consideration is typically fixed for such customers. At the time of delivery, the customer is invoiced the agreed-upon price. Revenue from product sales is typically recognized upon manufacture or shipment, when control of the goods transfers to the customer. To determine when the control transfers, we typically assess, among other things, the shipping terms of the contract, shipping being one of the indicators of transfer of control. A majority of product sales are sold free on board (“FOB”) shipping point. For FOB shipping point shipments, control of the goods transfers to the customer at the time of shipment of the goods. Therefore, our performance obligation is satisfied at the time of shipment. We have elected to account for shipping and handling costs that occur after the customer has obtained control of a good as fulfillment costs rather than as a promised service. We do not have any material significant payment terms as payment is typically received shortly after the point of sale. There also exist instances where we manufacture highly customized products that have no alternative use to us and for which we have an enforceable right to payment for performance completed to date. For these products, we transfer control and recognize revenue over time by measuring progress towards completion using the Output Method based on the number of products produced. As we normally make our products to a customer’s order, the time between production and shipment of our products is typically within a few weeks. As a part of our customary business practice, we offer a standard warranty that the products will materially comply with the technical specifications and will be free from material defects. Because such warranties are not sold separately, do not provide for any service beyond a guarantee of a product’s initial specifications, and are not required by law, there is no revenue deferral for these types of warranties. Tooling Sales We also build, or contract to build molds and other tools (collectively defined as “tooling”) necessary to produce our products. As with product sales, we recognize revenue when control of the tool transfers to the customer. If the tooling is highly customized with no alternative use to us and we have an enforceable right to payment for performance completed to date, we transfer control and recognize revenue over time by measuring progress towards completion using the Input Method based on costs incurred relative to total estimated costs to completion. Otherwise, revenue for the tooling is recognized at the point in time when the customer approves the tool. We do not have any material significant payment terms as payment is typically either received during the mold-build process or shortly after completion. In certain instances, we offer extended warranties on tools sold to our customers above and beyond the normal standard warranties. We normally receive payment at the inception of the contract and recognize revenue over the term of the contract. At December 31, 2019, $515 thousand of unearned revenue associated with outstanding contracts was reported in Accounts Payable, Accrued and Other Liabilities. At March 31, 2020, the unearned amount was $432 thousand. We expect to recognize approximately $172 thousand of the unearned amount during the remainder of 2020, $123 thousand in 2021, and $137 thousand thereafter. Credit Risk We are exposed to credit losses primarily through our product sales, tooling sales and services to our customers. We assess each customer’s ability to pay for the products we sell by conducting a credit review. The credit review considers our expected billing exposure and timing for payment and the customer’s established credit rating or our assessment of the customer’s creditworthiness based on our analysis of their financial statements when a credit rating is not available. We also consider contract terms and conditions, country and political risks, and business strategy in our evaluation. A credit limit is established for each customer based on the outcome of this review. We monitor our ongoing credit exposure through active review of customer balances against contract terms and due dates. Our activities include timely account reconciliation, dispute resolution and payment confirmation. We may employ collection agencies and legal counsel to pursue recovery of defaulted receivables. At March 31, 2020, we reported $602 million of accounts receivable, net of CECL of $5.7 million. Changes in the allowance were not material for the three months ended March 31, 2020. Current uncertainty in credit and market conditions due to the COVID-19 pandemic may slow our collection efforts if customers experience significant difficulty accessing credit and paying their obligations, which may lead to higher than normal accounts receivable and increased CECL charges.

INVENTORIES

INVENTORIES	3 Months Ended
	Mar. 31, 2020
INVENTORIES
INVENTORIES	NOTE 3 - INVENTORIES Inventories, by component, consisted of: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ ​ 2020 ​ 2019 Raw materials ​ $ 106,787 ​ $ 111,653 ​ Work in process ​ 120,151 ​ 123,750 ​ Finished goods ​ 144,921 ​ 140,392 ​ Total ​ $ 371,859 ​ $ 375,795 ​ ​

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS	3 Months Ended
	Mar. 31, 2020
GOODWILL AND OTHER INTANGIBLE ASSETS
GOODWILL AND OTHER INTANGIBLE ASSETS	NOTE 4 – GOODWILL AND OTHER INTANGIBLE ASSETS The changes in the carrying amount of goodwill by reporting segment since December 31, 2019 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beauty + ​ ​ Food + Corporate ​ ​ ​ ​ Home ​ Pharma ​ Beverage ​ & Other ​ Total Goodwill ​ $ 221,658 ​ $ 413,650 ​ $ 128,153 ​ $ 1,615 ​ $ 765,076 ​ Accumulated impairment losses ​ ​ — ​ — ​ — ​ (1,615) ​ (1,615) ​ Balance as of December 31, 2019 ​ $ 221,658 ​ $ 413,650 ​ $ 128,153 ​ $ — ​ $ 763,461 ​ Acquisition ​ ​ — ​ ​ 463 ​ ​ — ​ ​ — ​ ​ 463 ​ Foreign currency exchange effects ​ (2,201) ​ (5,543) ​ (99) ​ — ​ (7,843) ​ Goodwill ​ $ 219,457 ​ $ 408,570 ​ $ 128,054 ​ $ 1,615 ​ $ 757,696 ​ Accumulated impairment losses ​ — ​ — ​ — ​ (1,615) ​ (1,615) ​ Balance as of March 31, 2020 ​ $ 219,457 ​ $ 408,570 ​ $ 128,054 ​ $ — ​ $ 756,081 ​ ​ The table below shows a summary of intangible assets as of March 31, 2020 and December 31, 2019. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2020 ​ ​ December 31, 2019 ​ Weighted Average ​ Gross ​ ​ ​ ​ ​ ​ ​ Gross ​ ​ ​ ​ ​ ​ Amortization Period ​ Carrying ​ Accumulated ​ Net ​ Carrying ​ Accumulated ​ Net ​ (Years) Amount Amortization Value Amount Amortization Value Amortized intangible assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Patents 7.9 ​ $ 3,001 ​ ​ (1,304) ​ $ 1,697 ​ $ 2,804 ​ $ (1,318) ​ $ 1,486 ​ Acquired technology 13.0 ​ 99,437 ​ ​ (27,143) ​ 72,294 ​ 100,511 ​ (25,430) ​ 75,081 ​ Customer relationships ​ 13.7 ​ ​ 216,198 ​ ​ (37,774) ​ ​ 178,424 ​ ​ 217,934 ​ ​ (33,924) ​ ​ 184,010 ​ Trademarks and trade names ​ 6.9 ​ ​ 34,131 ​ ​ (11,919) ​ ​ 22,212 ​ ​ 35,015 ​ ​ (11,003) ​ ​ 24,012 ​ License agreements and other 17.6 ​ 19,671 ​ ​ (10,177) ​ 9,494 ​ 16,153 ​ (9,658) ​ 6,495 ​ Total intangible assets 13.0 ​ $ 372,438 ​ $ (88,317) ​ $ 284,121 ​ $ 372,417 ​ $ (81,333) ​ $ 291,084 ​ ​ Aggregate amortization expense for the intangible assets above for the quarters ended March 31, 2020 and 2019 was $8,014 and $6,002, respectively. Future estimated amortization expense for the years ending December 31 is as follows: ​ ​ ​ ​ ​ ​ 2020 ​ $ 20,725 ​ (remaining estimated amortization for 2020) 2021 ​ 27,154 ​ ​ 2022 ​ 26,915 ​ ​ 2023 ​ 26,835 ​ ​ 2024 and thereafter ​ 182,492 ​ ​ ​ Future amortization expense may fluctuate depending on changes in foreign currency rates. The estimates for amortization expense noted above are based upon foreign exchange rates as of March 31, 2020.

INCOME TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2020
INCOME TAXES
INCOME TAXES	NOTE 5 – INCOME TAXES The tax provision for interim periods is determined using the estimated annual effective consolidated tax rate, based on the current estimate of full-year earnings and related estimated full year-taxes, adjusted for the impact of discrete quarterly items. ​ The effective tax rate for the three months ended March 31, 2020 and 2019, respectively, was 29.2% and 30.0% . ​

DEBT

DEBT	3 Months Ended
	Mar. 31, 2020
DEBT
DEBT	NOTE 6 – DEBT Notes Payable, Revolving Credit Facility and Overdrafts At March 31, 2020 and December 31, 2019, our notes payable, revolving credit facility and overdrafts, consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ 2020 2019 Notes payable 8.10% due in 2020 ​ $ 2,664 ​ $ 1,436 ​ Revolving credit facility 1.88% due in 2020 ​ ​ 200,000 ​ ​ 25,000 ​ Overdrafts 5.68% - 7.82% due in 2020 ​ ​ 17,847 ​ ​ 17,823 ​ ​ ​ $ 220,511 ​ $ 44,259 ​ ​ We maintain a multi-currency revolving credit facility with two tranches that matures in July 2022 which provides for unsecured financing of up to $300 million that is available in the U.S. and up to €150 million that is available to our wholly-owned UK subsidiary. $200.0 million was utilized under our U.S. facility and no balance was utilized under our euro-based revolving credit facility as of March 31, 2020. $25.0 million was utilized under our U.S. facility and no balance was utilized on our euro-based revolving credit facility as of December 31, 2019. There are no compensating balance requirements associated with our revolving credit facility. Each borrowing under the credit facility will bear interest at rates based on LIBOR, prime rates or other similar rates, in each case plus an applicable margin. A facility fee on the total amount of the facility is also payable quarterly, regardless of usage. The applicable margins for borrowings under the credit facility and the facility fee percentage may change from time to time depending on changes in our consolidated leverage ratio. Long-Term Obligations At March 31, 2020, our long-term obligations consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unamortized ​ ​ ​ ​ ​ Debt Issuance ​ ​ Principal Costs Net Notes payable 0.00% – 10.90%, due in monthly and annual installments through 2028 ​ $ 15,551 ​ $ — ​ $ 15,551 ​ Senior unsecured notes 3.2%, due in 2022 ​ 75,000 ​ 59 ​ 74,941 ​ Senior unsecured debts 3.1% USD floating swapped to 1.36% EUR fixed, equal annual installments through 2022 ​ 168,000 ​ 352 ​ 167,648 ​ Senior unsecured notes 3.5%, due in 2023 ​ ​ 125,000 ​ ​ 135 ​ ​ 124,865 ​ Senior unsecured notes 1.0%, due in 2023 ​ ​ 110,315 ​ ​ 341 ​ ​ 109,974 ​ Senior unsecured notes 3.4%, due in 2024 ​ 50,000 ​ 60 ​ 49,940 ​ Senior unsecured notes 3.5%, due in 2024 ​ ​ 100,000 ​ ​ 135 ​ ​ 99,865 ​ Senior unsecured notes 1.2%, due in 2024 ​ ​ 220,630 ​ ​ 701 ​ ​ 219,929 ​ Senior unsecured notes 3.6%, due in 2025 ​ ​ 125,000 ​ ​ 157 ​ ​ 124,843 ​ Senior unsecured notes 3.6%, due in 2026 ​ ​ 125,000 ​ ​ 157 ​ ​ 124,843 ​ Finance Lease Liabilities ​ 28,395 ​ — ​ 28,395 ​ ​ ​ $ 1,142,891 ​ $ 2,097 ​ $ 1,140,794 ​ Current maturities of long-term obligations ​ (65,049) ​ — ​ (65,049) ​ Total long-term obligations ​ $ 1,077,842 ​ $ 2,097 ​ $ 1,075,745 ​ ​ At December 31, 2019, our long-term obligations consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unamortized ​ ​ ​ ​ ​ Debt Issuance ​ ​ ​ Principal Costs Net Notes payable 0.00% – 10.90%, due in monthly and annual installments through 2028 ​ $ 19,220 ​ $ — ​ $ 19,220 ​ Senior unsecured notes 3.2%, due in 2022 ​ 75,000 ​ 64 ​ 74,936 ​ Senior unsecured debts 3.2% USD floating swapped to 1.36% EUR fixed, equal annual installments through 2022 ​ 168,000 ​ 390 ​ 167,610 ​ Senior unsecured notes 3.5%, due in 2023 ​ ​ 125,000 ​ ​ 144 ​ ​ 124,856 ​ Senior unsecured notes 1.0%, due in 2023 ​ ​ 112,170 ​ ​ 356 ​ ​ 111,814 ​ Senior unsecured notes 3.4%, due in 2024 ​ 50,000 ​ 63 ​ 49,937 ​ Senior unsecured notes 3.5%, due in 2024 ​ ​ 100,000 ​ ​ 144 ​ ​ 99,856 ​ Senior unsecured notes 1.2%, due in 2024 ​ ​ 224,340 ​ ​ 742 ​ ​ 223,598 ​ Senior unsecured notes 3.6%, due in 2025 ​ ​ 125,000 ​ ​ 169 ​ ​ 124,831 ​ Senior unsecured notes 3.6%, due in 2026 ​ ​ 125,000 ​ ​ 169 ​ ​ 124,831 ​ Finance Lease Liabilities ​ 29,952 ​ — ​ 29,952 ​ ​ ​ $ 1,153,682 ​ $ 2,241 ​ $ 1,151,441 ​ Current maturities of long-term obligations ​ (65,988) ​ ​ — ​ ​ (65,988) ​ Total long-term obligations ​ $ 1,087,694 ​ $ 2,241 ​ $ 1,085,453 ​ ​ The aggregate long-term maturities, excluding finance lease liabilities, which are disclosed in Note 7, due annually from the current balance sheet date for the next five years are $61,181, $60,285, $134,343, $337,444, $270,846 and $250,397 thereafter. Covenants Our revolving credit facility and corporate long-term obligations require us to satisfy certain financial and other covenants including: ​ ​ ​ ​ ​ ​ ​ ​ Requirement Level at March 31, 2020 Consolidated Leverage Ratio (1) Maximum 1.73 to 1.00 Consolidated Interest Coverage Ratio (1) Minimum of 3.00 to 1.00 16.32 to 1.00 (1) Definitions of ratios are included as part of the revolving credit facility agreement and the note purchase agreements.

LEASE COMMITMENTS

LEASE COMMITMENTS	3 Months Ended
	Mar. 31, 2020
LEASE COMMITMENTS
LEASE COMMITMENTS	NOTE 7 – LEASES We lease certain warehouse, plant and office facilities as well as certain equipment under noncancelable operating and finance leases expiring at various dates through the year 2032. Most of the operating leases contain renewal options and certain leases include options to purchase the related asset during or at the end of the lease term. Amortization expense related to finance leases is included in depreciation expense while rent expense related to operating leases is included within cost of sales and selling research & development and administrative expenses (“SG&A”). The components of lease expense for the three months ended March 31, 2020 and 2019 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, 2020 2019 Operating lease cost ​ $ 5,254 ​ $ 6,004 ​ ​ ​ ​ ​ ​ ​ ​ ​ Finance lease cost: ​ ​ ​ ​ ​ ​ ​ Amortization of right-of-use assets ​ $ 1,199 ​ $ 872 ​ Interest on lease liabilities ​ ​ 348 ​ ​ 315 ​ Total finance lease cost ​ $ 1,547 ​ $ 1,187 ​ ​ ​ ​ ​ ​ ​ ​ ​ Short-term lease and variable lease costs ​ $ 2,448 ​ $ 1,942 ​ ​ Supplemental cash flow information related to leases was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, 2020 ​ 2019 ​ Cash paid for amounts included in the measurement of lease liabilities: ​ ​ ​ ​ ​ ​ ​ Operating cash flows from operating leases ​ $ 5,328 ​ $ 6,469 ​ Operating cash flows from finance leases ​ ​ 369 ​ ​ 243 ​ Financing cash flows from finance leases ​ ​ 1,657 ​ ​ 1,140 ​ ​ ​ ​ ​ ​ ​ ​ ​ Right-of-use assets obtained in exchange for lease obligations: ​ ​ ​ ​ ​ ​ ​ Operating leases ​ $ 5,233 ​ $ 4,515 ​ Finance leases ​ ​ 220 ​ ​ 10,697 ​ ​

RETIREMENT AND DEFERRED COMPENS

RETIREMENT AND DEFERRED COMPENSATION PLANS	3 Months Ended
	Mar. 31, 2020
RETIREMENT AND DEFERRED COMPENSATION PLANS
RETIREMENT AND DEFERRED COMPENSATION PLANS	NOTE 8 – RETIREMENT AND DEFERRED COMPENSATION PLANS Components of Net Periodic Benefit Cost: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Domestic Plans ​ Foreign Plans ​ Three Months Ended March 31, ​ 2020 ​ 2019 ​ 2020 ​ 2019 Service cost ​ $ 3,577 ​ $ 2,773 ​ $ 1,768 ​ $ 1,460 ​ Interest cost ​ 1,987 ​ 1,845 ​ 340 ​ 501 ​ Expected return on plan assets ​ (3,422) ​ (3,094) ​ (634) ​ (592) ​ Amortization of net loss ​ 1,548 ​ 489 ​ 514 ​ 363 ​ Amortization of prior service cost ​ — ​ — ​ 97 ​ 113 ​ Net periodic benefit cost ​ $ 3,690 ​ $ 2,013 ​ $ 2,085 ​ $ 1,845 ​ ​ The components of net periodic benefit cost, other than the service cost component, are included in the line “Miscellaneous, net” in the income statement. ​ EMPLOYER CONTRIBUTIONS Although we have no minimum funding requirement, we contributed $204

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME	3 Months Ended
	Mar. 31, 2020
ACCUMULATED OTHER COMPREHENSIVE INCOME
ACCUMULATED OTHER COMPREHENSIVE INCOME	NOTE 9 – ACCUMULATED OTHER COMPREHENSIVE INCOME Changes in Accumulated Other Comprehensive (Loss) Income by Component: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign Defined Benefit ​ ​ ​ ​ ​ ​ Currency ​ Pension Plans ​ Derivatives ​ Total Balance - December 31, 2018 ​ $ (248,401) ​ $ (60,463) ​ $ (1,640) ​ $ (310,504) ​ Other comprehensive (loss) income before reclassifications ​ (9,619) ​ — ​ 5,738 ​ (3,881) ​ Amounts reclassified from accumulated other comprehensive income (loss) ​ — ​ 721 ​ (6,131) ​ (5,410) ​ Net current-period other comprehensive (loss) income ​ (9,619) ​ 721 ​ (393) ​ (9,291) ​ Balance - March 31, 2019 ​ $ (258,020) ​ $ (59,742) ​ $ (2,033) ​ $ (319,795) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance - December 31, 2019 ​ $ (257,124) ​ $ (83,147) ​ $ (1,677) ​ $ (341,948) ​ Other comprehensive (loss) income before reclassifications ​ (42,229) ​ — ​ 5,026 ​ (37,203) ​ Amounts reclassified from accumulated other comprehensive income (loss) ​ — ​ 1,636 ​ (3,543) ​ (1,907) ​ Net current-period other comprehensive (loss) income ​ (42,229) ​ 1,636 ​ 1,483 ​ (39,110) ​ Balance - March 31, 2020 ​ $ (299,353) ​ $ (81,511) ​ $ (194) ​ $ (381,058) ​ ​ Reclassifications Out of Accumulated Other Comprehensive (Loss) 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 March 31, 2020 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Defined Benefit Pension Plans ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortization of net loss ​ $ 2,062 ​ $ 852 (1) ​ Amortization of prior service cost ​ 97 ​ 113 (1) ​ ​ ​ 2,159 ​ 965 Total before tax ​ ​ ​ (523) ​ (244) Tax benefit ​ ​ ​ $ 1,636 ​ $ 721 Net of tax ​ Derivatives ​ ​ ​ ​ ​ ​ ​ ​ ​ Changes in cross currency swap: interest component ​ $ (763) ​ $ (1,454) ​ Interest Expense ​ Changes in cross currency swap: foreign exchange component ​ (2,780) ​ (4,677) Miscellaneous, net ​ ​ ​ $ (3,543) ​ $ (6,131) Net of tax ​ Total reclassifications for the period ​ $ (1,907) ​ $ (5,410) ​ ​ ​ (1) These accumulated other comprehensive income components are included in the computation of net periodic benefit costs, net of tax. See Note 8 – Retirement and Deferred Compensation Plans for additional details. ​ ​

DERIVATIVE INSTRUMENTS AND HEDG

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	3 Months Ended
	Mar. 31, 2020
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	NOTE 10 – DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES We maintain a foreign exchange risk management policy designed to establish a framework to protect the value of our non-functional denominated transactions from adverse changes in exchange rates. Sales of our products can be denominated in a currency different from the currency in which the related costs to produce the product are denominated. Changes in exchange rates on such inter-country sales or intercompany loans can impact our results of operations. Our policy is not to engage in speculative foreign currency hedging activities, but to minimize our net foreign currency transaction exposure, defined as firm commitments and transactions recorded and denominated in currencies other than the functional currency. We may use foreign currency forward exchange contracts, options and cross currency swaps to economically hedge these risks. For derivative instruments designated as hedges, we formally document the nature and relationships between the hedging instruments and the hedged items, as well as the risk management objectives, strategies for undertaking the various hedge transactions, and the method of assessing hedge effectiveness at inception. Quarterly thereafter, we formally assess whether the derivatives that are used in hedging transactions are highly effective in offsetting changes in the fair value or cash flows of the hedged item. Additionally, in order to designate any derivative instrument as a hedge of an anticipated transaction, the significant characteristics and expected terms of any anticipated transaction must be specifically identified, and it must be probable that the anticipated transaction will occur. All derivative financial instruments used as hedges are recorded at fair value in the Condensed Consolidated Balance Sheets. See Note 11 - Fair Value for additional details. Cash Flow Hedge For derivative instruments that are designated and qualify as cash flow hedges, the changes in fair values are recorded in accumulated other comprehensive loss and included in changes in derivative gain/loss. The changes in the fair values of derivatives designated as cash flow hedges are reclassified from accumulated other comprehensive loss to net income when the underlying hedged item is recognized in earnings. Cash flows from the settlement of derivative contracts designated as cash flow hedges offset cash flows from the underlying hedged items and are included in operating activities in the Condensed Consolidated Statements of Cash Flows. During 2017, our wholly-owned UK subsidiary borrowed $280 million in term loan borrowings under a new credit facility. In order to mitigate the currency risk of U.S. dollar debt on a euro functional currency entity and to mitigate the risk of variability in interest rates, we entered into a cross currency swap in the notional amount of $280 million to effectively hedge the foreign exchange and interest rate exposure on the $280 million term loan. This EUR/USD swap agreement fixed our U.S. dollar floating-rate debt to 1.36% euro fixed-rate debt. Related to this hedge, approximately $0.2 million of loss is included in accumulated other comprehensive loss at March 31, 2020. The amount expected to be recognized into earnings during the next 12 months related to the interest component of our cross currency swap based on prevailing foreign exchange and interest rates at March 31, 2020 is $2.2 million. The amount expected to be recognized into earnings during the next 12 months related to the foreign exchange component of our cross currency swap is dependent on fluctuations in currency exchange rates. As of March 31, 2020, the fair values of the cross currency swap were a $6.8 million asset. The swap contract expires on July 20, 2022. Hedge of Net Investments in Foreign Operations A significant number of our operations are located outside of the United States. Because of this, movements in exchange rates may have a significant impact on the translation of the financial condition and results of operations of our foreign subsidiaries. A strengthening U.S. dollar relative to foreign currencies has a dilutive translation effect on our financial condition and results of operations. Conversely, a weakening U.S. dollar has an additive effect. In some cases, we maintain debt in these subsidiaries to offset the net asset exposure. We do not otherwise actively manage this risk using derivative financial instruments. In the event we plan on a full or partial liquidation of any of our foreign subsidiaries where our net investment is likely to be monetized, we will consider hedging the currency exposure associated with such a transaction. Other As of March 31, 2020, we have recorded the fair value of foreign currency forward exchange contracts of $2.1 million in prepaid and other and $0.5 million in accounts payable and accrued liabilities on the balance sheet. All forward exchange contracts outstanding as of March 31, 2020 had an aggregate notional contract amount of $56.1 million. ​ ​ Fair Value of Derivative Instruments in the Condensed Consolidated Balance Sheets as of March 31, 2020 and December 31, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2020 December 31, 2019 ​ ​ ​ ​ ​ ​ Derivatives ​ ​ ​ Derivatives ​ ​ ​ ​ ​ Derivatives ​ not ​ Derivatives ​ not ​ ​ ​ ​ ​ Designated ​ Designated ​ Designated ​ Designated ​ ​ ​ Balance Sheet ​ as Hedging ​ as Hedging ​ as Hedging ​ as Hedging ​ ​ ​ Location ​ Instruments ​ Instruments ​ Instruments ​ Instruments Derivative Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign Exchange Contracts Prepaid and other ​ $ — ​ $ 2,061 ​ $ — ​ $ 206 ​ Cross Currency Swap Contract (1) Prepaid and other ​ 6,769 ​ — ​ 2,552 ​ — ​ ​ ​ ​ ​ $ 6,769 ​ $ 2,061 ​ $ 2,552 ​ $ 206 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivative Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign Exchange Contracts Accounts payable, accrued and other liabilities ​ $ — ​ $ 505 ​ $ — ​ $ 401 ​ ​ ​ ​ ​ $ — ​ $ 505 ​ $ — ​ $ 401 ​ (1) This cross currency swap contract is composed of both an interest component and a foreign exchange component. ​ ​ The Effect of Cash Flow Hedge Accounting on Accumulated Other Comprehensive Income (Loss) for the Three Months Ended March 31, 2020 and 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amount of Gain (Loss) ​ Total Amount ​ ​ ​ Amount of Gain (Loss) ​ Location of (Loss) ​ Reclassified from ​ of Affected ​ Derivatives in Cash ​ Recognized in ​ Gain Recognized ​ Accumulated ​ Income ​ Flow Hedging ​ Other Comprehensive ​ in Income on ​ Other Comprehensive ​ Statement ​ Relationships ​ Income on Derivative ​ Derivatives ​ Income on Derivative ​ Line Item ​ ​ ​ 2020 ​ 2019 ​ ​ ​ 2020 ​ 2019 ​ ​ Cross currency swap contract: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest component $ 2,246 ​ $ 1,392 ​ Interest expense ​ $ 763 ​ $ 1,454 ​ $ (8,388) ​ Foreign exchange component ​ 2,780 ​ ​ 4,677 ​ Miscellaneous, net ​ ​ 2,780 ​ ​ 4,677 ​ ​ (1,412) ​ ​ ​ $ 5,026 ​ $ 6,069 ​ ​ ​ $ 3,543 ​ $ 6,131 ​ ​ ​ ​ ​ ​ The Effect of Derivatives Not Designated as Hedging Instruments on the Condensed Consolidated Statements of Income for the Three Months Ended March 31, 2020 and 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amount of (Loss) Gain ​ Derivatives Not Designated ​ Location of (Loss) Gain Recognized ​ Recognized in Income ​ as Hedging Instruments ​ in Income on Derivatives ​ on Derivatives ​ ​ ​ ​ ​ 2020 ​ 2019 Foreign Exchange Contracts Other (Expense) Income: ​ $ 1,747 ​ $ (263) ​ ​ ​ ​ ​ $ 1,747 ​ $ (263) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Amounts not Offset ​ ​ ​ ​ ​ ​ ​ ​ Gross Amounts ​ Net Amounts ​ in the Statement of ​ ​ ​ ​ ​ ​ ​ ​ Offset in the ​ Presented in ​ Financial Position ​ ​ ​ ​ Gross ​ Statement of ​ the Statement of ​ Financial ​ Cash Collateral ​ Net ​ ​ Amount ​ Financial Position ​ Financial Position ​ Instruments ​ Received ​ Amount Description ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2020 ​ Derivative Assets ​ $ 8,830 — ​ $ 8,830 — — ​ $ 8,830 ​ Total Assets ​ $ 8,830 — ​ $ 8,830 — — ​ $ 8,830 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivative Liabilities ​ $ 505 — ​ $ 505 — — ​ $ 505 ​ Total Liabilities ​ $ 505 — ​ $ 505 — — ​ $ 505 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 ​ Derivative Assets ​ $ 2,758 — ​ $ 2,758 — — ​ $ 2,758 ​ Total Assets ​ $ 2,758 — ​ $ 2,758 — — ​ $ 2,758 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivative Liabilities ​ $ 401 — ​ $ 401 — — ​ $ 401 ​ Total Liabilities ​ $ 401 — ​ $ 401 — — ​ $ 401 ​ ​

FAIR VALUE

FAIR VALUE	3 Months Ended
	Mar. 31, 2020
FAIR VALUE
FAIR VALUE	NOTE 11 – FAIR VALUE Authoritative guidelines require the categorization of assets and liabilities into three levels based upon the assumptions (inputs) used to price the assets or liabilities. Level 1 provides the most reliable measure of fair value, whereas Level 3 generally requires significant management judgment. The three levels are defined as follows: ● Level 1: Unadjusted quoted prices in active markets for identical assets and liabilities. ● Level 2: Observable inputs other than those included in Level 1. For example, quoted prices for similar assets or liabilities in active markets or quoted prices for identical assets or liabilities in inactive markets. ● Level 3: Unobservable inputs reflecting management’s own assumptions about the inputs used in pricing the asset or liability. As of March 31, 2020, the fair values of our financial assets and liabilities were categorized as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Level 1 Level 2 Level 3 Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign exchange contracts (1) ​ $ 2,061 ​ $ — ​ $ 2,061 ​ $ — ​ Cross currency swap contract (1) ​ ​ 6,769 ​ ​ — ​ ​ 6,769 ​ ​ — ​ Total assets at fair value ​ $ 8,830 ​ $ — ​ $ 8,830 ​ $ — ​ Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign exchange contracts (1) ​ $ 505 ​ $ — ​ $ 505 ​ $ — ​ Contingent consideration obligation ​ ​ 5,930 ​ ​ — ​ ​ — ​ ​ 5,930 ​ Total liabilities at fair value ​ $ 6,435 ​ $ — ​ $ 505 ​ $ 5,930 ​ ​ As of December 31, 2019, the fair values of our financial assets and liabilities were categorized as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Level 1 Level 2 Level 3 Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign exchange contracts (1) ​ $ 206 ​ $ — ​ $ 206 ​ $ — ​ Cross currency swap contract (1) ​ ​ 2,552 ​ ​ — ​ ​ 2,552 ​ ​ — ​ Total assets at fair value ​ $ 2,758 ​ $ — ​ $ 2,758 ​ $ — ​ Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign exchange contracts (1) ​ $ 401 ​ $ — ​ $ 401 ​ $ — ​ Contingent consideration obligation ​ ​ 5,930 ​ ​ — ​ ​ — ​ ​ 5,930 ​ Total liabilities at fair value ​ $ 6,331 ​ $ — ​ $ 401 ​ $ 5,930 ​ (1) Market approach valuation technique based on observable market transactions of spot and forward rates. ​ ​ The carrying amounts of our other current financial instruments such as cash and equivalents, accounts and notes receivable, notes payable and current maturities of long-term obligations approximate fair value due to the short-term maturity of the instruments. We consider our long-term obligations a Level 2 liability and utilize the market approach valuation technique based on interest rates that are currently available to us for issuance of debt with similar terms and maturities. The estimated fair value of our long-term obligations was $1.0 billion as of March 31, 2020 and $1.1 billion as of December 31, 2019. As discussed in Note 17 - Acquisitions, we have a contingent consideration obligation to the selling equity holders of Noble in connection with the Noble Acquisition (as defined herein) based on 2024 cumulative performance targets and a contingent consideration obligation to the selling equity holder of Gateway in connection with the Gateway Acquisition (as defined herein) based on 2020 and 2022 performance targets. We consider these obligations a Level 3 liability and have estimated the aggregate fair value for these contingent consideration arrangements to be $2.9 million and $3.0 million, respectively, as of March 31, 2020 and December 31, 2019.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2020
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	NOTE 12 - 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 our financial position, results of operations or cash flows, claims and legal proceedings are subject to inherent uncertainties, and unfavorable outcomes could occur and could include amounts in excess of any accruals which management has established. Were such unfavorable final outcomes to occur, it is possible that they could have a material adverse effect on our financial position, results of operations and cash flows. Under our Certificate of Incorporation, we have agreed to indemnify our officers and directors for certain events or occurrences while the officer or director is, or was, serving at our request in such capacity. The maximum potential amount of future payments we could be required to make under these indemnification agreements is unlimited; however, we have a directors and officers liability insurance policy that covers a portion of our exposure. As a result of our insurance policy coverage, we believe the estimated fair value of these indemnification agreements is minimal. We have no liabilities recorded for these agreements as of March 31, 2020 and December 31, 2019. A fire caused damage to our facility in Annecy, France in June 2016. We are insured for the damages caused by the fire, including business interruption insurance. For the three months ended March 31, 2020, we did not receive any insurance proceeds, and have no insurance receivable as of March 31, 2020. During the three months ended March 31, 2020 and 2019, profitability was not impacted. The final settlement continues to be negotiated. In many cases, our insurance coverage exceeds the amount of our recognized losses. However, no gain contingencies were recognized during the three months ended March 31, 2020 as our ability to realize those gains remains uncertain. An environmental investigation, undertaken to assess areas of possible contamination, was completed at our facility in Jundiaí, São Paulo, Brazil. The facility is primarily an internal supplier of anodized aluminum components for certain of our dispensing systems. The testing indicated that soil and groundwater in certain areas of the facility were impacted above acceptable levels established by local regulations. In March 2017, we reported the findings to the relevant environmental authority, the Environmental Company of the State of São Paulo – CETESB. Based upon our best estimate, we recorded a reserve of $1.5 million (operating expense) in the first quarter of 2017 related to this contingency. During 2019, we paid approximately $0.6 million. For the three months ended March 31, 2020, we paid approximately $0.1 million and made adjustments to the accrual based on our future anticipated expenditures. As of March 31, 2020, our outstanding reserve is $0.4 million. The ultimate loss associated with this environmental contingency is subject to the investigation and ongoing review of the CETESB. We will continue to evaluate the range of likely costs as the investigation proceeds and we have further clarity on the nature and extent of remediation that will be required. We note that the contamination, or any failure to complete any required remediation in a timely manner, could potentially result in fines or penalties. In March 2017, the Supreme Court of Brazil issued a decision that a certain state value added tax should not be included in the calculation of federal gross receipts taxes. The decision reduces our gross receipts tax in Brazil prospectively and, potentially, retrospectively. During the first quarter of 2019, we received a favorable court decision of $2.7 million for the retrospective right to recover part of our claim. This amount is recorded in cost of sales as a favorable impact of $1.7 million and $1.0 million was recognized as interest income. If the Judicial Court grants full retrospective recovery, we estimate remaining potential recoveries of approximately $2 million to $8 million, including interest, depending on the future decisions of the Supreme Court of Brazil. Due to uncertainties around our remaining court recovery claims, we have not recorded any further amounts relating to the retrospective nature of this matter. In December 2019, tax authorities in Brazil notified us of a tax assessment of approximately $6.1 million, including interest and penalties of $2.3 million and $0.8 million, respectively, relating to differences in tax classification codes used for import duties for the period from January 2015 to August 2018. We are vigorously contesting the assessment, including interest and penalties, and have filed an administrative defense appeal in December 2019. Considering the complex nature of the assessment, we expect the appeal process to go through different levels of administrative and/or judicial review. Accordingly, due to uncertainty of the timing and amounts of assessment, no liability is recorded as of March 31, 2020. ​

STOCK REPURCHASE PROGRAM

STOCK REPURCHASE PROGRAM	3 Months Ended
	Mar. 31, 2020
STOCK REPURCHASE PROGRAM
STOCK REPURCHASE PROGRAM	NOTE 13 – STOCK REPURCHASE PROGRAM On April 18, 2019, we announced a share repurchase authorization of up to $350 million of common stock. This authorization replaces previous authorizations and has no expiration date. We may repurchase shares through the open market, privately negotiated transactions or other programs, subject to market conditions. During the three months ended March 31, 2020, we did not repurchase any shares. During the three months ended March 31, 2019, the Company repurchased approximately 159 thousand shares for approximately $15.0 million. As of March 31, 2020, there was $278.5 million of authorized share repurchases available to us. ​

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	3 Months Ended
	Mar. 31, 2020
STOCK-BASED COMPENSATION
STOCK-BASED COMPENSATION	NOTE 14 – STOCK-BASED COMPENSATION We issue restricted stock units (“RSUs”), which consist of time-based and performance-based awards, to employees under stock awards plans approved by stockholders. In addition, RSUs are issued to non-employee directors under a Restricted Stock Unit Award Agreement for Directors pursuant to the Company’s 2018 Equity Incentive Plan. RSUs granted to employees vest according to a specified performance period and/or vesting period. Time-based RSUs generally vest over three years. Performance-based RSUs vest at the end of the specified performance period, generally three years, assuming required performance or market vesting conditions are met. Performance-based RSUs have one of two vesting conditions: (1) based on our internal financial performance metrics and (2) based on our total shareholder return (“TSR”) relative to total shareholder returns of an industrial peer group. At the time of vesting, the vested shares of common stock are issued in the employee’s name. In addition, RSU awards are generally net settled (shares are withheld to cover the employee tax obligation). RSUs granted to directors are only time-based and generally vest over one year. The fair value of both time-based RSUs and performance-based RSUs pertaining to internal performance metrics is determined using the closing price of our common stock on the grant date. The fair value of performance-based RSUs pertaining to TSR is estimated using a Monte Carlo simulation. Inputs and assumptions used to calculate the fair value are shown in the table below. The fair value of these RSUs is expensed over the vesting period using the straight-line method or using the graded vesting method when an employee becomes eligible to retain the award at retirement. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ 2020 ​ ​ ​ 2019 ​ Fair value per stock award ​ $ 94.98 ​ ​ $ 134.97 ​ ​ Grant date stock price ​ $ 83.93 ​ ​ $ 104.51 ​ ​ Assumptions: ​ ​ ​ ​ ​ ​ ​ ​ ​ Aptar's stock price expected volatility ​ ​ 23.80 % ​ ​ 16.50 % ​ Expected average volatility of peer companies ​ ​ 48.50 % ​ ​ 31.90 % ​ Correlation assumption ​ ​ 63.50 % ​ ​ 37.40 % ​ Risk-free interest rate ​ ​ 0.31 % ​ ​ 2.19 % ​ Dividend yield assumption ​ ​ 1.72 % ​ ​ 1.30 % ​ ​ A summary of RSU activity as of March 31, 2020 and changes during the three month period then ended is presented below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Time-Based RSUs ​ Performance-Based RSUs ​ Weighted Average ​ Weighted Average ​ ​ ​ Units ​ Grant-Date Fair Value ​ Units ​ Grant-Date Fair Value ​ Nonvested at January 1, 2020 ​ 480,729 ​ $ 95.45 ​ 181,680 ​ $ 117.26 ​ Granted ​ 176,424 ​ 81.75 ​ 206,408 ​ 90.85 ​ Vested ​ (112,515) ​ ​ 82.64 ​ — ​ ​ — ​ Forfeited ​ (217) ​ 100.14 ​ (589) ​ 120.61 ​ Nonvested at March 31, 2020 ​ 544,421 ​ $ 92.11 ​ 387,499 ​ $ 103.23 ​ ​ Included in the March 31, 2020 time-based RSUs are 11,490 units granted to non-employee directors. Compensation expense recorded attributable to RSUs for the first three months of 2020 and 2019 was approximately $8.3 million and $4.7 million, respectively. The actual tax benefit realized for the tax deduction from RSUs was approximately $1.5 million in the three months ended March 31, 2020. The fair value of units vested during the three months ended March 31, 2020 and 2019 was $9.3 million and $2.7 million, respectively. The intrinsic value of units vested during the three months ended March 31, 2020 and 2019 was $11.5 million and $3.2 million, respectively. As of March 31, 2020, there was $62.7 million of total unrecognized compensation cost relating to RSU awards which is expected to be recognized over a weighted-average period of 2.3 years. Historically we issued stock options to our employees and non-employee directors. Beginning in 2019, we no longer issue stock options. Stock options were awarded with the exercise price equal to the market price on the date of grant and generally vest over three years and expire 10 years after grant. Compensation expense attributable to employee stock options for the first three months of 2020 was approximately $0.9 million ($0.7 million after tax). Approximately $0.7 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 attributable to stock options for the first three months of 2019 was approximately $1.8 million ($1.5 million after tax). Approximately $1.6 million of the compensation expense was recorded in selling, research & development and administrative expenses and the balance was recorded in cost of sales. The reduction in stock option expense is due to our move to RSUs as discussed above. For stock option grants, we used historical data to estimate expected life and volatility. A summary of option activity under our stock plans during the three months ended March 31, 2020 is presented below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Stock Awards Plans ​ Director Stock Option Plans ​ ​ ​ Weighted Average ​ Weighted Average ​ ​ ​ Options ​ Exercise Price ​ Options ​ Exercise Price Outstanding, January 1, 2020 ​ 5,044,180 ​ $ 68.32 135,251 ​ $ 58.45 ​ Granted ​ — ​ — — ​ — ​ Exercised ​ (292,090) ​ 55.16 (21,251) ​ 51.20 ​ Forfeited or expired ​ (6,630) ​ 65.60 — ​ — ​ Outstanding at March 31, 2020 ​ 4,745,460 ​ $ 69.20 114,000 ​ $ 59.80 ​ Exercisable at March 31, 2020 ​ 4,583,864 ​ $ 68.43 114,000 ​ $ 59.80 ​ Weighted-Average Remaining Contractual Term (Years): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Outstanding at March 31, 2020 ​ 5.3 ​ ​ ​ ​ 3.2 ​ ​ ​ Exercisable at March 31, 2020 ​ 5.1 ​ ​ ​ ​ 3.2 ​ ​ ​ Aggregate Intrinsic Value: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Outstanding at March 31, 2020 ​ $ 143,971 ​ ​ ​ $ 4,530 ​ ​ ​ ​ Exercisable at March 31, 2020 ​ $ 142,195 ​ ​ ​ $ 4,530 ​ ​ ​ ​ Intrinsic Value of Options Exercised During the Three Months Ended: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2020 ​ $ 18,202 ​ ​ ​ $ 1,385 ​ ​ ​ ​ March 31, 2019 ​ $ 14,047 ​ ​ ​ $ 51 ​ ​ ​ ​ ​ The grant date fair value of options vested during the three months ended March 31, 2020 and 2019 was $7.6 million and $12.2 million, respectively. Cash received from option exercises was approximately

EARNINGS PER SHARE

EARNINGS PER SHARE	3 Months Ended
	Mar. 31, 2020
EARNINGS PER SHARE
EARNINGS PER SHARE	NOTE 15 – EARNINGS PER SHARE Basic net income per share is calculated by dividing net income attributable to Aptar by the weighted-average number of common shares outstanding during the period. Diluted net income per share is calculated by dividing the net income attributable to Aptar by the weighted-average number of common and common equivalent shares outstanding during the applicable period. The difference between basic and diluted earnings per share is attributable to stock-based compensation awards. Stock-based compensation awards for which total employee proceeds exceed the average market price over the applicable period would have an antidilutive effect on earnings per share, and accordingly, are excluded from the calculation of diluted earnings per share. The reconciliation of basic and diluted earnings per share for the three months ended March 31, 2020 and 2019 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ ​ March 31, 2020 ​ March 31, 2019 ​ ​ ​ Diluted ​ Basic ​ Diluted ​ Basic Consolidated operations ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income available to common stockholders ​ $ 55,253 ​ $ 55,253 ​ $ 63,004 ​ $ 63,004 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Average equivalent shares ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Shares of common stock ​ 64,009 ​ 64,009 ​ 62,964 ​ 62,964 ​ Effect of dilutive stock-based compensation ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Stock options ​ 1,810 ​ — ​ 2,222 ​ — ​ Restricted stock ​ 292 ​ — ​ 163 ​ — ​ Total average equivalent shares ​ 66,111 ​ ​ 64,009 ​ ​ 65,349 ​ ​ 62,964 ​ Net income per share ​ $ 0.84 ​ $ 0.86 ​ $ 0.96 ​ $ 1.00 ​ ​

SEGMENT INFORMATION

SEGMENT INFORMATION	3 Months Ended
	Mar. 31, 2020
SEGMENT INFORMATION
SEGMENT INFORMATION	NOTE 16 – SEGMENT INFORMATION We are organized into three reporting segments. Our Beauty + Home segment sells to the personal care, beauty and home care markets. Our Pharma segment serves customers in the prescription drug, consumer health care, injectables and active packaging markets. Our Food + Beverage segment sells to the food and beverage markets. The accounting policies of the segments are the same as those described in Part II, Item 8, Note 1 - Summary of Significant Accounting Policies in our Annual Report on Form 10-K for the year ended December 31, 2019. We evaluate performance of our business units and allocate resources based upon Adjusted EBITDA. Adjusted EBITDA is defined as earnings before net interest, taxes, depreciation, amortization, unallocated corporate expenses, restructuring and acquisition-related costs. All internal segment reporting and discussions of results with our Chief Operating Decision Maker (CODM) are based on segment Adjusted EBITDA. Financial information regarding our reporting segments is shown below: ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, 2020 ​ 2019 Total Sales: ​ ​ ​ ​ ​ ​ ​ Beauty + Home ​ $ 330,466 ​ $ 373,503 ​ Pharma ​ 299,590 ​ 274,494 ​ Food + Beverage ​ 100,301 ​ 104,727 ​ Total Sales ​ $ 730,357 ​ $ 752,724 ​ Less: Intersegment Sales: ​ ​ ​ ​ ​ ​ ​ Beauty + Home ​ $ 5,906 ​ $ 5,844 ​ Pharma ​ 2,394 ​ 1,793 ​ Food + Beverage ​ 504 ​ 627 ​ Total Intersegment Sales ​ $ 8,804 ​ $ 8,264 ​ Net Sales: ​ ​ ​ ​ ​ ​ ​ Beauty + Home ​ $ 324,560 ​ $ 367,659 ​ Pharma ​ 297,196 ​ 272,701 ​ Food + Beverage ​ 99,797 ​ 104,100 ​ Net Sales ​ $ 721,553 ​ $ 744,460 ​ Adjusted EBITDA (1): ​ ​ ​ ​ ​ ​ ​ Beauty + Home ​ $ 34,247 ​ $ 53,191 ​ Pharma ​ 108,342 ​ 97,357 ​ Food + Beverage ​ 15,407 ​ 16,691 ​ Corporate & Other, unallocated ​ (13,828) ​ (12,755) ​ Acquisition-related costs (2) ​ ​ (2,274) ​ ​ — ​ Restructuring Initiatives (3) ​ ​ (4,839) ​ ​ (9,530) ​ Depreciation and amortization ​ ​ (50,806) ​ ​ (47,489) ​ Interest Expense ​ ​ (8,388) ​ ​ (9,214) ​ Interest Income ​ 175 ​ 1,748 ​ Income before Income Taxes ​ $ 78,036 ​ $ 89,999 ​ (1) We evaluate performance of our reporting segments and allocate resources based upon Adjusted EBITDA. Adjusted EBITDA is defined as earnings before net interest, taxes, depreciation, amortization, unallocated corporate expenses, restructuring and acquisition-related costs. (2) Acquisition-related costs include transaction costs and purchase accounting adjustments related to acquisitions and investments (see Note 17 – Acquisitions and Note 18 – Investment in Equity Securities for further details). (3) Restructuring Initiatives includes expense items for the three months ended March 31, 2020 and 2019 as follows (see Note 19 – Restructuring Initiatives for further details): ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ 2020 2019 ​ Restructuring Initiatives by Segment ​ ​ ​ ​ ​ ​ ​ Beauty + Home ​ $ 4,907 ​ $ 8,269 ​ Pharma ​ (31) ​ 326 ​ Food + Beverage ​ 103 ​ 510 ​ Corporate & Other ​ ​ (140) ​ ​ 425 ​ Total Restructuring Initiatives ​ $ 4,839 ​ $ 9,530 ​ ​ ​ ​

ACQUISITIONS

ACQUISITIONS	3 Months Ended
	Mar. 31, 2020
ACQUISITIONS
ACQUISITIONS	NOTE 17 – ACQUISITIONS Business Combinations On February 13, 2020, we entered into a securities purchase agreement to acquire 100% of the equity interests (the “Fusion Acquisition”) of Fusion Packaging, Inc. (“Fusion”). Subsequent to the quarter end, on April 1, 2020 we closed on the Fusion Acquisition for a purchase price of approximately $165 million. Fusion, based in Dallas, TX, is a global leader in the design, engineering and distribution of luxury packaging for the beauty industry. The purchase agreement also provides an earn-out provision providing for the payment of up to $33.9 million based on Fusion’s financial performance during a 3 year measurement period. On October 31, 2019, we completed our acquisition (the “Noble Acquisition”) of 100% of the equity interests of Noble International Holdings, Inc., Genia Medical, Inc. and JBCB Holdings, LLC (collectively referred to as “Noble”). Noble, based in Orlando, FL, is a leading provider in developing patient-centric advanced drug delivery system training devices including autoinjector, prefilled syringe, onbody and respiratory devices for the world’s leading biopharmaceutical companies and original equipment manufacturers. The purchase price was approximately $62.3 million (net of $1.6 million of cash acquired) and was funded by cash on hand. As part of the Noble Acquisition, we are also obligated to pay to the selling equityholders of Noble certain contingent consideration based on 2024 cumulative financial performance metrics defined in the purchase agreement. Based on projection as of the acquisition date, we estimated the aggregate fair value for this contingent consideration arrangement to be $2.9 million utilizing the Black-Scholes valuation model. As of December 31, 2019, $5 million was held in restricted cash pending the finalization of a working capital adjustment and indemnity escrow. During the first quarter of 2020, $1.0 million related to the working capital escrow was released from restriction, resulting in an additional $463 thousand payment due to the seller and a corresponding increase to our purchase price and associated goodwill balance. The results of Noble’s operations have been included in the Condensed Consolidated Financial Statements within our Pharma segment since the date of acquisition. On June 5, 2019, we completed our acquisition (the “Nanopharm Acquisition”) of all of the outstanding capital stock of Nanopharm Ltd. (“Nanopharm”). Nanopharm, located in Newport, UK, is a science-driven, leading provider of orally inhaled and nasal drug product design and development services. The purchase price was approximately $38.1 million (net of $1.8 million of cash acquired) and was funded by cash on hand. The results of Nanopharm’s operations have been included in the Condensed Consolidated Financial Statements within our Pharma segment since the date of acquisition. On May 31, 2019, we completed our acquisition (the “Gateway Acquisition”) of all of the outstanding equity interests of Gateway Analytical LLC (“Gateway”). Gateway, located in Gibsonia, PA, provides industry-leading particulate detection and predictive analytical services to customers developing injectable medicines. The purchase price was approximately $7.0 million and was funded by cash on hand. As part of the Gateway Acquisition, we are also obligated to pay to the selling equityholder of Gateway certain contingent consideration based on 2020 and 2022 performance targets defined in the purchase agreement. Based on projections as of the acquisition date, we estimated the aggregate fair value for this contingent consideration arrangement to be $3.0 million. The results of Gateway’s operations have been included in the Condensed Consolidated Financial Statements within our Pharma segment since the date of acquisition. The following table summarizes the assets acquired and liabilities assumed ​ ​ ​ ​ ​ ​ ​ 2019 Assets ​ ​ ​ ​ Cash and equivalents ​ $ 3,427 ​ Accounts receivable ​ 3,504 ​ Prepaid and other ​ 2,478 ​ Property, plant and equipment ​ 4,267 ​ Goodwill ​ 59,143 ​ Intangible assets ​ 52,980 ​ Other miscellaneous assets ​ 430 ​ Liabilities ​ ​ ​ ​ Accounts payable, accrued and other liabilities ​ 5,388 ​ Deferred income taxes ​ 2,592 ​ Deferred and other non-current liabilities ​ 1,598 ​ Net assets acquired ​ $ 116,651 ​ ​ 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: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2019 ​ ​ Weighted-Average Estimated ​ ​ Useful Life ​ Fair Value ​ ​ (in years) ​ of Asset Acquired technology 8 ​ $ 9,160 ​ Customer relationships 11 ​ 39,379 ​ Trademarks and trade names ​ 4 ​ ​ 2,457 ​ License agreements and other 1 ​ 1,984 ​ Total ​ ​ ​ $ 52,980 ​ ​ Goodwill in the amount of $59.1 million was recorded related to the 2019 acquisitions which is included in the Pharma segment. 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 our commercial presence in selling the Noble, Nanopharm and Gateway lines of products in markets where they did not previously operate and the abilities of the acquired companies to maintain their competitive advantage from a technical viewpoint. Goodwill will not be amortized, but will be tested for impairment at least annually. For 2019 acquisitions, goodwill of $29.6 million will be deductible for tax purposes. Asset Acquisition On August 2, 2019, we completed our asset acquisition (the “Bapco Acquisition”) of the remaining 80% ownership interest in the capital stock of Bapco Closures Holdings Limited (“Bapco”), for $3.8 million (net of $2.9 million of cash acquired). The 20% ownership investment previously held in Bapco is now included within the intangible assets acquired. Bapco, located in Leeds, UK, provides innovative closures sealing technology that provides package integrity and tamper evidence. The results of Bapco’s operations have been included in the Condensed Consolidated Financial Statements within our Food + Beverage segment since the date of acquisition.

INVESTMENT IN EQUITY SECURITIES

INVESTMENT IN EQUITY SECURITIES	3 Months Ended
	Mar. 31, 2020
Equity Method and Other Investments [Abstract]
INVESTMENT IN EQUITY SECURITIES	NOTE 18 –INVESTMENT IN EQUITY SECURITIES Our investment in equity securities consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ 2020 2019 Equity Method Investments: ​ ​ ​ ​ ​ ​ ​ BTY ​ $ 31,043 ​ $ 119 ​ Kali Care ​ ​ 3,772 ​ ​ 3,881 ​ Desotec GmbH ​ ​ 811 ​ ​ 858 ​ ​ ​ ​ ​ ​ ​ ​ ​ Other Investments ​ ​ 3,541 ​ ​ 3,538 ​ ​ ​ $ 39,167 ​ $ 8,396 ​ ​ Equity method investments BTY On October 1, 2019 we entered into a strategic definitive agreement to acquire 49% of the equity interests in 3 related companies: Suzhou Hsing Kwang, Suqian Hsing Kwang and Suzhou BTY (collectively referred to as “BTY”), contingent on the settlement date of the transaction. We have a call option to acquire an additional 26% to 31% of BTY’s equity interests following the initial lock-up period of 5 years based on a predetermined formula. Subsequent to the second lock-up period, which ends 3 years subsequent to the initial lock-up period, we have a call option to acquire the remaining equity interests of BTY based on a predetermined formula. Additionally, the selling shareholders of BTY have a put option for the remaining equity interest to be acquired by Aptar based on a predetermined formula. The BTY entities are leading Chinese manufacturers of high quality, decorative metal components, metal-plastic sub-assemblies, and complete color cosmetics packaging solutions for the beauty industry. On January 1, 2020, the transaction closed for an approximate purchase price of $31 million for our 49% share. As of March 31, 2020, we paid approximately $20 million, with the remaining amount of $11 million included in Accounts payable, accrued and other liabilities. The amount is payable after certain conditions under the definitive agreement are fulfilled and is expected to be paid during the second quarter of 2020. Kali Care During 2017, we invested $5 million to acquire 20% of the equity interests in Kali Care, a technology company that provides digital monitoring systems for medical devices. Desotec GmbH During 2009, we invested €574 thousand to acquire 23% of the equity interests in Desotec GmbH, a leading manufacturer of special assembly machines for bulk processing for the pharmaceutical, beauty and home and food and beverages markets. Healthcare, Inc. Subsequent to the quarter end, on April 1, 2020, we invested $5 million to acquire 30% of the equity interests in Healthcare, Inc., Shanghai Sonmol Internet Technology Co., Ltd. and its subsidiary, Shanghai Sonmol Medical Equipment Co., Ltd., a pharmaceutical company that provides connected devices for asthma control. Other investments During August 2019, we invested an aggregate amount of $3.5 million in two preferred equity investments in sustainability companies Loop and Purecycle Technologies that are accounted for at cost less impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for identical or similar investments of the same issuer. There were no indications of impairment nor were there any changes from observable price changes noted in the three months ended March 31, 2020.

RESTRUCTURING INITIATIVES

RESTRUCTURING INITIATIVES	3 Months Ended
	Mar. 31, 2020
RESTRUCTURING INITIATIVES.
RESTRUCTURING INITIATIVES	NOTE 19 – RESTRUCTURING INITIATIVES In late 2017, we began a business transformation to drive profitable sales growth, increase operational excellence, enhance our approach to innovation and improve organizational effectiveness. The primary focus of the plan is the Beauty + Home segment; however, certain global general and administrative functions are also being addressed. For the three months ended March 31, 2020 and 2019, we recognized $4.8 million and $9.5 million of restructuring costs related to this plan, respectively. Using current exchange rates, we estimate total implementation costs of approximately $110 million for these initiatives, including costs that have been recognized to date. The cumulative expense incurred as of March 31, 2020 was $91.3 million. We also anticipate making capital investments related to the transformation plan of approximately $50 million, of which $40 million has been incurred to date. As of March 31, 2020 we have recorded the following activity associated with the business transformation: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning ​ Net Charges for ​ ​ ​ ​ ​ ​ ​ Ending ​ ​ Reserve at ​ the Three Months ​ ​ ​ ​ Interest and ​ Reserve at ​ ​ 12/31/2019 ​ Ended 3/31/2020 ​ Cash Paid ​ FX Impact ​ 3/31/2020 Employee severance ​ $ 7,090 ​ $ 4,066 ​ $ (503) ​ $ 187 ​ $ 10,840 ​ Professional fees and other costs ​ 3,609 ​ 773 ​ (3,069) ​ (9) ​ 1,304 ​ Totals ​ $ 10,699 ​ $ 4,839 ​ $ (3,572) ​ $ 178 ​ $ 12,144 ​ ​

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Mar. 31, 2020
SUBSEQUENT EVENTS.
SUBSEQUENT EVENTS	​ NOTE 20 – SUBSEQUENT EVENTS On April 1, 2020, the Fusion Acquisition closed for an approximate purchase price of $165 million, plus an earn-out, to acquire 100% of the membership interests. Refer to Note 17 – Acquisitions for further details on the acquisition. ​

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2020
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”, “Aptar”, “Company”, “we”, “us” or “our” as used herein refer to AptarGroup, Inc. and our subsidiaries. All significant intercompany accounts and transactions have been eliminated. In the opinion of management, the unaudited Condensed Consolidated Financial Statements (the “Condensed Consolidated Financial Statements”) include all normal recurring adjustments necessary for a fair statement of consolidated financial position, results of operations, comprehensive income, changes in equity and cash flows for the interim periods presented. The accompanying Condensed Consolidated Financial Statements have been prepared by the Company, pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) have been condensed or omitted pursuant to such rules and regulations, although we believe that the disclosures made are adequate to make the information presented not misleading. Also, certain financial position data included herein was derived from the audited Consolidated Financial Statements included in our Annual Report on Form 10-K for the year ended December 31, 2019 but does not include all disclosures required by U.S. GAAP. Accordingly, these Condensed Consolidated Financial Statements and related notes should be read in conjunction with the audited Consolidated Financial Statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2019. The results of operations of any interim period are not necessarily indicative of the results that may be expected for the year. There are many uncertainties regarding the current COVID-19 pandemic, including the scope of scientific and health issues, the anticipated duration of the pandemic and the extent of local and worldwide social, political and economic disruption it may cause. The pandemic has impacted our business, operations and financial results during the quarter ended March 31, 2020 including an overall reduction to net sales. No impairments were recorded as of March 31, 2020. While the disruption is currently expected to be temporary, there is uncertainty around the duration. Due to significant uncertainty surrounding the situation, our judgment regarding future results could change and therefore our results could be materially impacted.
INCOME TAXES	INCOME TAXES ​ We compute taxes on income in accordance with the tax rules and regulations of the many taxing authorities where the income is earned. The income tax rates imposed by these taxing authorities may vary substantially. Taxable income may differ from pre-tax income for financial accounting purposes. To the extent that these differences create timing differences between the tax basis of an asset or liability and our reported amount in the financial statements, an appropriate provision for deferred income taxes is made. We maintain our assertion that the cash and distributable reserves at our non-U.S. affiliates are indefinitely reinvested. Under current U.S. tax laws, all of our non-U.S. earnings are subject to U.S. taxation. We will provide for the necessary withholding and local income taxes when management decides that an affiliate should make a distribution. These decisions are made taking into consideration the financial requirements of the non-U.S. affiliates and the global cash management goals of the Company. We provide a liability for the amount of unrecognized tax benefits from uncertain tax positions. This liability is provided whenever we determine that a tax benefit will not meet a more-likely-than-not threshold for recognition. The Company is subject to taxation and files income tax returns in the U.S. federal jurisdiction and many state and foreign jurisdictions. The Company believes that an adequate provision has been made for any adjustments that may result from tax examinations. However, the outcome of tax audits cannot be predicted with certainty. If any issues addressed in the Company’s tax audits are resolved in a manner inconsistent with its expectations, the Company could be required to adjust its provision for income taxes in the period such resolution occurs. The resolution of each of these audits is not expected to be material to our Condensed Consolidated Financial Statements.
ADOPTION OF RECENT ACCOUNTING PRONOUNCEMENTS	ADOPTION OF RECENT ACCOUNTING STANDARDS ​ Changes to U.S. GAAP are established by the Financial Accounting Standards Board (“FASB”) in the form of Accounting Standards Updates (“ASUs”) to the FASB’s Accounting Standards Codification. Effective January 1, 2020, we adopted ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, issued by the FASB in June 2016, as well as the clarifying amendments subsequently issued. We applied the guidance using a modified retrospective approach and accordingly recognized an amount of $1.4 million as the cumulative adjustment to opening retained earnings in the first quarter of 2020. This is based on management's best estimates of specific losses on individual exposures particularly on current trade receivables, as well as the time value of money and reasonable and supportable information that is available at the reporting date about past events, current conditions and forecasts of future economic conditions. On an ongoing basis, we will contemplate forward-looking economic conditions in recording lifetime expected credit losses for our financial assets measured at cost, such as our trade receivables and certain other assets. In January 2017, the FASB issued ASU 2017-04, which provides guidance to simplify how an entity is required to test goodwill for impairm ent by eliminating Step 2 from the goodwill impairment test. As a result, impairment charges are required for the amount by which a reporting unit’s carrying amount exceeds its fair value up to the amount of its allocated goodwill. We adopted the standard on January 1, 2020 and did not record any impairment charges. In August 2018, the FASB issued ASU 2018-15 to help entities evaluate the accounting for fees paid by a customer in a cloud computing arrangement (hosting arrangement) by providing guidance for determining when the arrangement includes a software license. The amendments in this update align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). Accordingly, the amendments require an entity (customer) in a hosting arrangement that is a service contract to follow the guidance in Subtopic 350-40 to determine which implementation costs to capitalize as an asset related to the service contract and which costs to expense. The amendments also require the entity (customer) to expense the capitalized implementation costs of a hosting arrangement that is a service contract over the term of the hosting arrangement, which includes reasonably certain renewals. We adopted the standard on January 1, 2020 and no material impacts were noted. In August 2018, the FASB issued ASU 2018-13, which amends disclosure requirements for fair value measurements. The new standard modifies disclosure requirements including removing requirements to disclose the valuation process for Level 3 measurements and adding requirements to disclose the changes in unrealized gains and losses for the period included in other comprehensive income for recurring Level 3 fair value measurements and the range and weighted average of significant unobservable inputs used to develop Level 3 measurements. We adopted the standard on January 1, 2020 and no material impacts were noted. Other accounting standards that have been issued by the FASB or other standards-setting bodies did not have a material impact on our Condensed Consolidated Financial Statements.

REVENUE (Tables)

REVENUE (Tables)	3 Months Ended
	Mar. 31, 2020
REVENUE.
Schedule of revenue by segment by geographic area	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Three Months Ended March 31, 2020 ​ ​ ​ ​ ​ ​ ​ Latin ​ ​ ​ ​ ​ ​ ​ Segment ​ Europe ​ Domestic ​ America ​ Asia ​ Total Beauty + Home ​ $ 186,950 ​ $ 81,845 ​ $ 36,181 ​ $ 19,584 ​ $ 324,560 ​ Pharma ​ ​ 190,130 ​ ​ 90,965 ​ ​ 6,579 ​ ​ 9,522 ​ ​ 297,196 ​ Food + Beverage ​ ​ 28,769 ​ ​ 57,590 ​ ​ 8,034 ​ ​ 5,404 ​ ​ 99,797 ​ Total ​ $ 405,849 ​ $ 230,400 ​ $ 50,794 ​ $ 34,510 ​ $ 721,553 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Three Months Ended March 31, 2019 ​ ​ ​ ​ ​ ​ ​ ​ Latin ​ ​ ​ ​ ​ ​ ​ Segment ​ Europe ​ Domestic ​ America ​ Asia ​ Total ​ Beauty + Home ​ $ 216,233 ​ $ 86,979 ​ $ 42,642 ​ $ 21,805 ​ $ 367,659 ​ Pharma ​ ​ 184,174 ​ ​ 71,772 ​ ​ 7,656 ​ ​ 9,099 ​ ​ 272,701 ​ Food + Beverage ​ ​ 30,961 ​ ​ 55,120 ​ ​ 7,884 ​ ​ 10,135 ​ ​ 104,100 ​ Total ​ $ 431,368 ​ $ 213,871 ​ $ 58,182 ​ $ 41,039 ​ $ 744,460 ​
Schedule of opening and closing balances of contract assets and contract liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance as of Balance as of ​ Increase/ ​ December 31, 2019 March 31, 2020 (Decrease) Contract asset (current) ​ $ 16,245 ​ $ 13,457 ​ $ (2,788) ​ Contract asset (long-term) ​ $ — ​ $ — ​ $ — ​ Contract liability (current) ​ $ 79,305 ​ $ 78,974 ​ $ (331) ​ Contract liability (long-term) ​ $ 9,779 ​ $ 14,994 ​ $ 5,215 ​

INVENTORIES (Tables)

INVENTORIES (Tables)	3 Months Ended
	Mar. 31, 2020
INVENTORIES
Schedule of inventories, by component	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ ​ 2020 ​ 2019 Raw materials ​ $ 106,787 ​ $ 111,653 ​ Work in process ​ 120,151 ​ 123,750 ​ Finished goods ​ 144,921 ​ 140,392 ​ Total ​ $ 371,859 ​ $ 375,795 ​

GOODWILL AND OTHER INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)	3 Months Ended
	Mar. 31, 2020
GOODWILL AND OTHER INTANGIBLE ASSETS
Schedule of changes in the carrying amount of goodwill	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beauty + ​ ​ Food + Corporate ​ ​ ​ ​ Home ​ Pharma ​ Beverage ​ & Other ​ Total Goodwill ​ $ 221,658 ​ $ 413,650 ​ $ 128,153 ​ $ 1,615 ​ $ 765,076 ​ Accumulated impairment losses ​ ​ — ​ — ​ — ​ (1,615) ​ (1,615) ​ Balance as of December 31, 2019 ​ $ 221,658 ​ $ 413,650 ​ $ 128,153 ​ $ — ​ $ 763,461 ​ Acquisition ​ ​ — ​ ​ 463 ​ ​ — ​ ​ — ​ ​ 463 ​ Foreign currency exchange effects ​ (2,201) ​ (5,543) ​ (99) ​ — ​ (7,843) ​ Goodwill ​ $ 219,457 ​ $ 408,570 ​ $ 128,054 ​ $ 1,615 ​ $ 757,696 ​ Accumulated impairment losses ​ — ​ — ​ — ​ (1,615) ​ (1,615) ​ Balance as of March 31, 2020 ​ $ 219,457 ​ $ 408,570 ​ $ 128,054 ​ $ — ​ $ 756,081 ​
Summary of amortized intangible assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2020 ​ ​ December 31, 2019 ​ Weighted Average ​ Gross ​ ​ ​ ​ ​ ​ ​ Gross ​ ​ ​ ​ ​ ​ Amortization Period ​ Carrying ​ Accumulated ​ Net ​ Carrying ​ Accumulated ​ Net ​ (Years) Amount Amortization Value Amount Amortization Value Amortized intangible assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Patents 7.9 ​ $ 3,001 ​ ​ (1,304) ​ $ 1,697 ​ $ 2,804 ​ $ (1,318) ​ $ 1,486 ​ Acquired technology 13.0 ​ 99,437 ​ ​ (27,143) ​ 72,294 ​ 100,511 ​ (25,430) ​ 75,081 ​ Customer relationships ​ 13.7 ​ ​ 216,198 ​ ​ (37,774) ​ ​ 178,424 ​ ​ 217,934 ​ ​ (33,924) ​ ​ 184,010 ​ Trademarks and trade names ​ 6.9 ​ ​ 34,131 ​ ​ (11,919) ​ ​ 22,212 ​ ​ 35,015 ​ ​ (11,003) ​ ​ 24,012 ​ License agreements and other 17.6 ​ 19,671 ​ ​ (10,177) ​ 9,494 ​ 16,153 ​ (9,658) ​ 6,495 ​ Total intangible assets 13.0 ​ $ 372,438 ​ $ (88,317) ​ $ 284,121 ​ $ 372,417 ​ $ (81,333) ​ $ 291,084 ​
Schedule of future estimated amortization expense	Future estimated amortization expense for the years ending December 31 is as follows: ​ ​ ​ ​ ​ ​ 2020 ​ $ 20,725 ​ (remaining estimated amortization for 2020) 2021 ​ 27,154 ​ ​ 2022 ​ 26,915 ​ ​ 2023 ​ 26,835 ​ ​ 2024 and thereafter ​ 182,492 ​ ​ ​

DEBT (Tables)

DEBT (Tables)	3 Months Ended
	Mar. 31, 2020
DEBT
Schedule of short-term debt	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ 2020 2019 Notes payable 8.10% due in 2020 ​ $ 2,664 ​ $ 1,436 ​ Revolving credit facility 1.88% due in 2020 ​ ​ 200,000 ​ ​ 25,000 ​ Overdrafts 5.68% - 7.82% due in 2020 ​ ​ 17,847 ​ ​ 17,823 ​ ​ ​ $ 220,511 ​ $ 44,259 ​
Schedule of long-term obligations	At March 31, 2020, our long-term obligations consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unamortized ​ ​ ​ ​ ​ Debt Issuance ​ ​ Principal Costs Net Notes payable 0.00% – 10.90%, due in monthly and annual installments through 2028 ​ $ 15,551 ​ $ — ​ $ 15,551 ​ Senior unsecured notes 3.2%, due in 2022 ​ 75,000 ​ 59 ​ 74,941 ​ Senior unsecured debts 3.1% USD floating swapped to 1.36% EUR fixed, equal annual installments through 2022 ​ 168,000 ​ 352 ​ 167,648 ​ Senior unsecured notes 3.5%, due in 2023 ​ ​ 125,000 ​ ​ 135 ​ ​ 124,865 ​ Senior unsecured notes 1.0%, due in 2023 ​ ​ 110,315 ​ ​ 341 ​ ​ 109,974 ​ Senior unsecured notes 3.4%, due in 2024 ​ 50,000 ​ 60 ​ 49,940 ​ Senior unsecured notes 3.5%, due in 2024 ​ ​ 100,000 ​ ​ 135 ​ ​ 99,865 ​ Senior unsecured notes 1.2%, due in 2024 ​ ​ 220,630 ​ ​ 701 ​ ​ 219,929 ​ Senior unsecured notes 3.6%, due in 2025 ​ ​ 125,000 ​ ​ 157 ​ ​ 124,843 ​ Senior unsecured notes 3.6%, due in 2026 ​ ​ 125,000 ​ ​ 157 ​ ​ 124,843 ​ Finance Lease Liabilities ​ 28,395 ​ — ​ 28,395 ​ ​ ​ $ 1,142,891 ​ $ 2,097 ​ $ 1,140,794 ​ Current maturities of long-term obligations ​ (65,049) ​ — ​ (65,049) ​ Total long-term obligations ​ $ 1,077,842 ​ $ 2,097 ​ $ 1,075,745 ​ ​ At December 31, 2019, our long-term obligations consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unamortized ​ ​ ​ ​ ​ Debt Issuance ​ ​ ​ Principal Costs Net Notes payable 0.00% – 10.90%, due in monthly and annual installments through 2028 ​ $ 19,220 ​ $ — ​ $ 19,220 ​ Senior unsecured notes 3.2%, due in 2022 ​ 75,000 ​ 64 ​ 74,936 ​ Senior unsecured debts 3.2% USD floating swapped to 1.36% EUR fixed, equal annual installments through 2022 ​ 168,000 ​ 390 ​ 167,610 ​ Senior unsecured notes 3.5%, due in 2023 ​ ​ 125,000 ​ ​ 144 ​ ​ 124,856 ​ Senior unsecured notes 1.0%, due in 2023 ​ ​ 112,170 ​ ​ 356 ​ ​ 111,814 ​ Senior unsecured notes 3.4%, due in 2024 ​ 50,000 ​ 63 ​ 49,937 ​ Senior unsecured notes 3.5%, due in 2024 ​ ​ 100,000 ​ ​ 144 ​ ​ 99,856 ​ Senior unsecured notes 1.2%, due in 2024 ​ ​ 224,340 ​ ​ 742 ​ ​ 223,598 ​ Senior unsecured notes 3.6%, due in 2025 ​ ​ 125,000 ​ ​ 169 ​ ​ 124,831 ​ Senior unsecured notes 3.6%, due in 2026 ​ ​ 125,000 ​ ​ 169 ​ ​ 124,831 ​ Finance Lease Liabilities ​ 29,952 ​ — ​ 29,952 ​ ​ ​ $ 1,153,682 ​ $ 2,241 ​ $ 1,151,441 ​ Current maturities of long-term obligations ​ (65,988) ​ ​ — ​ ​ (65,988) ​ Total long-term obligations ​ $ 1,087,694 ​ $ 2,241 ​ $ 1,085,453 ​
Schedule of covenants on revolving credit facility and corporate long-term obligations	​ ​ ​ ​ ​ ​ ​ Requirement Level at March 31, 2020 Consolidated Leverage Ratio (1) Maximum 1.73 to 1.00 Consolidated Interest Coverage Ratio (1) Minimum of 3.00 to 1.00 16.32 to 1.00 (1) Definitions of ratios are included as part of the revolving credit facility agreement and the note purchase agreements.

LEASE COMMITMENTS (Tables)

LEASE COMMITMENTS (Tables)	3 Months Ended
	Mar. 31, 2020
LEASE COMMITMENTS
Schedule of components of lease expense	​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, 2020 2019 Operating lease cost ​ $ 5,254 ​ $ 6,004 ​ ​ ​ ​ ​ ​ ​ ​ ​ Finance lease cost: ​ ​ ​ ​ ​ ​ ​ Amortization of right-of-use assets ​ $ 1,199 ​ $ 872 ​ Interest on lease liabilities ​ ​ 348 ​ ​ 315 ​ Total finance lease cost ​ $ 1,547 ​ $ 1,187 ​ ​ ​ ​ ​ ​ ​ ​ ​ Short-term lease and variable lease costs ​ $ 2,448 ​ $ 1,942 ​
Schedule of supplemental cash flow information related to leases	​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, 2020 ​ 2019 ​ Cash paid for amounts included in the measurement of lease liabilities: ​ ​ ​ ​ ​ ​ ​ Operating cash flows from operating leases ​ $ 5,328 ​ $ 6,469 ​ Operating cash flows from finance leases ​ ​ 369 ​ ​ 243 ​ Financing cash flows from finance leases ​ ​ 1,657 ​ ​ 1,140 ​ ​ ​ ​ ​ ​ ​ ​ ​ Right-of-use assets obtained in exchange for lease obligations: ​ ​ ​ ​ ​ ​ ​ Operating leases ​ $ 5,233 ​ $ 4,515 ​ Finance leases ​ ​ 220 ​ ​ 10,697 ​

RETIREMENT AND DEFERRED COMPE_2

RETIREMENT AND DEFERRED COMPENSATION PLANS (Tables)	3 Months Ended
	Mar. 31, 2020
RETIREMENT AND DEFERRED COMPENSATION PLANS
Components of net periodic benefit cost	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Domestic Plans ​ Foreign Plans ​ Three Months Ended March 31, ​ 2020 ​ 2019 ​ 2020 ​ 2019 Service cost ​ $ 3,577 ​ $ 2,773 ​ $ 1,768 ​ $ 1,460 ​ Interest cost ​ 1,987 ​ 1,845 ​ 340 ​ 501 ​ Expected return on plan assets ​ (3,422) ​ (3,094) ​ (634) ​ (592) ​ Amortization of net loss ​ 1,548 ​ 489 ​ 514 ​ 363 ​ Amortization of prior service cost ​ — ​ — ​ 97 ​ 113 ​ Net periodic benefit cost ​ $ 3,690 ​ $ 2,013 ​ $ 2,085 ​ $ 1,845 ​ ​

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE INCOME (Tables)	3 Months Ended
	Mar. 31, 2020
ACCUMULATED OTHER COMPREHENSIVE INCOME
Changes in Accumulated Other Comprehensive Income/(Loss) by Component	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign Defined Benefit ​ ​ ​ ​ ​ ​ Currency ​ Pension Plans ​ Derivatives ​ Total Balance - December 31, 2018 ​ $ (248,401) ​ $ (60,463) ​ $ (1,640) ​ $ (310,504) ​ Other comprehensive (loss) income before reclassifications ​ (9,619) ​ — ​ 5,738 ​ (3,881) ​ Amounts reclassified from accumulated other comprehensive income (loss) ​ — ​ 721 ​ (6,131) ​ (5,410) ​ Net current-period other comprehensive (loss) income ​ (9,619) ​ 721 ​ (393) ​ (9,291) ​ Balance - March 31, 2019 ​ $ (258,020) ​ $ (59,742) ​ $ (2,033) ​ $ (319,795) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance - December 31, 2019 ​ $ (257,124) ​ $ (83,147) ​ $ (1,677) ​ $ (341,948) ​ Other comprehensive (loss) income before reclassifications ​ (42,229) ​ — ​ 5,026 ​ (37,203) ​ Amounts reclassified from accumulated other comprehensive income (loss) ​ — ​ 1,636 ​ (3,543) ​ (1,907) ​ Net current-period other comprehensive (loss) income ​ (42,229) ​ 1,636 ​ 1,483 ​ (39,110) ​ Balance - March 31, 2020 ​ $ (299,353) ​ $ (81,511) ​ $ (194) ​ $ (381,058) ​
Reclassifications Out of Accumulated Other Comprehensive (Loss) Income	Reclassifications Out of Accumulated Other Comprehensive (Loss) 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 March 31, 2020 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Defined Benefit Pension Plans ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortization of net loss ​ $ 2,062 ​ $ 852 (1) ​ Amortization of prior service cost ​ 97 ​ 113 (1) ​ ​ ​ 2,159 ​ 965 Total before tax ​ ​ ​ (523) ​ (244) Tax benefit ​ ​ ​ $ 1,636 ​ $ 721 Net of tax ​ Derivatives ​ ​ ​ ​ ​ ​ ​ ​ ​ Changes in cross currency swap: interest component ​ $ (763) ​ $ (1,454) ​ Interest Expense ​ Changes in cross currency swap: foreign exchange component ​ (2,780) ​ (4,677) Miscellaneous, net ​ ​ ​ $ (3,543) ​ $ (6,131) Net of tax ​ Total reclassifications for the period ​ $ (1,907) ​ $ (5,410) ​ ​ ​ (1) These accumulated other comprehensive income components are included in the computation of net periodic benefit costs, net of tax. See Note 8 – Retirement and Deferred Compensation Plans for additional details.

DERIVATIVE INSTRUMENTS AND HE_2

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)	3 Months Ended
	Mar. 31, 2020
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES
Schedule of Fair Value of Derivative Instruments in the Consolidated Balance Sheets	Fair Value of Derivative Instruments in the Condensed Consolidated Balance Sheets as of March 31, 2020 and December 31, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2020 December 31, 2019 ​ ​ ​ ​ ​ ​ Derivatives ​ ​ ​ Derivatives ​ ​ ​ ​ ​ Derivatives ​ not ​ Derivatives ​ not ​ ​ ​ ​ ​ Designated ​ Designated ​ Designated ​ Designated ​ ​ ​ Balance Sheet ​ as Hedging ​ as Hedging ​ as Hedging ​ as Hedging ​ ​ ​ Location ​ Instruments ​ Instruments ​ Instruments ​ Instruments Derivative Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign Exchange Contracts Prepaid and other ​ $ — ​ $ 2,061 ​ $ — ​ $ 206 ​ Cross Currency Swap Contract (1) Prepaid and other ​ 6,769 ​ — ​ 2,552 ​ — ​ ​ ​ ​ ​ $ 6,769 ​ $ 2,061 ​ $ 2,552 ​ $ 206 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivative Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign Exchange Contracts Accounts payable, accrued and other liabilities ​ $ — ​ $ 505 ​ $ — ​ $ 401 ​ ​ ​ ​ ​ $ — ​ $ 505 ​ $ — ​ $ 401 ​ (1) This cross currency swap contract is composed of both an interest component and a foreign exchange component.
Schedule of Effect of Cash Flow Hedge Accounting on Accumulated Other Comprehensive Income (Loss)	​ ​ The Effect of Cash Flow Hedge Accounting on Accumulated Other Comprehensive Income (Loss) for the Three Months Ended March 31, 2020 and 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amount of Gain (Loss) ​ Total Amount ​ ​ ​ Amount of Gain (Loss) ​ Location of (Loss) ​ Reclassified from ​ of Affected ​ Derivatives in Cash ​ Recognized in ​ Gain Recognized ​ Accumulated ​ Income ​ Flow Hedging ​ Other Comprehensive ​ in Income on ​ Other Comprehensive ​ Statement ​ Relationships ​ Income on Derivative ​ Derivatives ​ Income on Derivative ​ Line Item ​ ​ ​ 2020 ​ 2019 ​ ​ ​ 2020 ​ 2019 ​ ​ Cross currency swap contract: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest component $ 2,246 ​ $ 1,392 ​ Interest expense ​ $ 763 ​ $ 1,454 ​ $ (8,388) ​ Foreign exchange component ​ 2,780 ​ ​ 4,677 ​ Miscellaneous, net ​ ​ 2,780 ​ ​ 4,677 ​ ​ (1,412) ​ ​ ​ $ 5,026 ​ $ 6,069 ​ ​ ​ $ 3,543 ​ $ 6,131 ​ ​ ​ ​
Schedule of Effect of Derivatives Not Designated as Hedging Instruments on the Consolidated Statements of Income	​ ​ The Effect of Derivatives Not Designated as Hedging Instruments on the Condensed Consolidated Statements of Income for the Three Months Ended March 31, 2020 and 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amount of (Loss) Gain ​ Derivatives Not Designated ​ Location of (Loss) Gain Recognized ​ Recognized in Income ​ as Hedging Instruments ​ in Income on Derivatives ​ on Derivatives ​ ​ ​ ​ ​ 2020 ​ 2019 Foreign Exchange Contracts Other (Expense) Income: ​ $ 1,747 ​ $ (263) ​ ​ ​ ​ ​ $ 1,747 ​ $ (263) ​
Schedule of offsetting derivative assets and liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross Amounts not Offset ​ ​ ​ ​ ​ ​ ​ ​ Gross Amounts ​ Net Amounts ​ in the Statement of ​ ​ ​ ​ ​ ​ ​ ​ Offset in the ​ Presented in ​ Financial Position ​ ​ ​ ​ Gross ​ Statement of ​ the Statement of ​ Financial ​ Cash Collateral ​ Net ​ ​ Amount ​ Financial Position ​ Financial Position ​ Instruments ​ Received ​ Amount Description ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2020 ​ Derivative Assets ​ $ 8,830 — ​ $ 8,830 — — ​ $ 8,830 ​ Total Assets ​ $ 8,830 — ​ $ 8,830 — — ​ $ 8,830 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivative Liabilities ​ $ 505 — ​ $ 505 — — ​ $ 505 ​ Total Liabilities ​ $ 505 — ​ $ 505 — — ​ $ 505 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 ​ Derivative Assets ​ $ 2,758 — ​ $ 2,758 — — ​ $ 2,758 ​ Total Assets ​ $ 2,758 — ​ $ 2,758 — — ​ $ 2,758 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivative Liabilities ​ $ 401 — ​ $ 401 — — ​ $ 401 ​ Total Liabilities ​ $ 401 — ​ $ 401 — — ​ $ 401 ​

FAIR VALUE (Tables)

FAIR VALUE (Tables)	3 Months Ended
	Mar. 31, 2020
FAIR VALUE
Schedule of fair values of financial assets and liabilities	As of March 31, 2020, the fair values of our financial assets and liabilities were categorized as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Level 1 Level 2 Level 3 Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign exchange contracts (1) ​ $ 2,061 ​ $ — ​ $ 2,061 ​ $ — ​ Cross currency swap contract (1) ​ ​ 6,769 ​ ​ — ​ ​ 6,769 ​ ​ — ​ Total assets at fair value ​ $ 8,830 ​ $ — ​ $ 8,830 ​ $ — ​ Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign exchange contracts (1) ​ $ 505 ​ $ — ​ $ 505 ​ $ — ​ Contingent consideration obligation ​ ​ 5,930 ​ ​ — ​ ​ — ​ ​ 5,930 ​ Total liabilities at fair value ​ $ 6,435 ​ $ — ​ $ 505 ​ $ 5,930 ​ ​ As of December 31, 2019, the fair values of our financial assets and liabilities were categorized as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Level 1 Level 2 Level 3 Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign exchange contracts (1) ​ $ 206 ​ $ — ​ $ 206 ​ $ — ​ Cross currency swap contract (1) ​ ​ 2,552 ​ ​ — ​ ​ 2,552 ​ ​ — ​ Total assets at fair value ​ $ 2,758 ​ $ — ​ $ 2,758 ​ $ — ​ Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign exchange contracts (1) ​ $ 401 ​ $ — ​ $ 401 ​ $ — ​ Contingent consideration obligation ​ ​ 5,930 ​ ​ — ​ ​ — ​ ​ 5,930 ​ Total liabilities at fair value ​ $ 6,331 ​ $ — ​ $ 401 ​ $ 5,930 ​ (1) Market approach valuation technique based on observable market transactions of spot and forward rates.

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	3 Months Ended
	Mar. 31, 2020
STOCK-BASED COMPENSATION
Summary of option activity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Stock Awards Plans ​ Director Stock Option Plans ​ ​ ​ Weighted Average ​ Weighted Average ​ ​ ​ Options ​ Exercise Price ​ Options ​ Exercise Price Outstanding, January 1, 2020 ​ 5,044,180 ​ $ 68.32 135,251 ​ $ 58.45 ​ Granted ​ — ​ — — ​ — ​ Exercised ​ (292,090) ​ 55.16 (21,251) ​ 51.20 ​ Forfeited or expired ​ (6,630) ​ 65.60 — ​ — ​ Outstanding at March 31, 2020 ​ 4,745,460 ​ $ 69.20 114,000 ​ $ 59.80 ​ Exercisable at March 31, 2020 ​ 4,583,864 ​ $ 68.43 114,000 ​ $ 59.80 ​ Weighted-Average Remaining Contractual Term (Years): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Outstanding at March 31, 2020 ​ 5.3 ​ ​ ​ ​ 3.2 ​ ​ ​ Exercisable at March 31, 2020 ​ 5.1 ​ ​ ​ ​ 3.2 ​ ​ ​ Aggregate Intrinsic Value: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Outstanding at March 31, 2020 ​ $ 143,971 ​ ​ ​ $ 4,530 ​ ​ ​ ​ Exercisable at March 31, 2020 ​ $ 142,195 ​ ​ ​ $ 4,530 ​ ​ ​ ​ Intrinsic Value of Options Exercised During the Three Months Ended: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2020 ​ $ 18,202 ​ ​ ​ $ 1,385 ​ ​ ​ ​ March 31, 2019 ​ $ 14,047 ​ ​ ​ $ 51 ​ ​ ​ ​
Weighted-average assumptions used to estimate fair value of restricted stock units	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ ​ 2020 ​ ​ ​ 2019 ​ Fair value per stock award ​ $ 94.98 ​ ​ $ 134.97 ​ ​ Grant date stock price ​ $ 83.93 ​ ​ $ 104.51 ​ ​ Assumptions: ​ ​ ​ ​ ​ ​ ​ ​ ​ Aptar's stock price expected volatility ​ ​ 23.80 % ​ ​ 16.50 % ​ Expected average volatility of peer companies ​ ​ 48.50 % ​ ​ 31.90 % ​ Correlation assumption ​ ​ 63.50 % ​ ​ 37.40 % ​ Risk-free interest rate ​ ​ 0.31 % ​ ​ 2.19 % ​ Dividend yield assumption ​ ​ 1.72 % ​ ​ 1.30 % ​
Summary of restricted stock unit activity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Time-Based RSUs ​ Performance-Based RSUs ​ Weighted Average ​ Weighted Average ​ ​ ​ Units ​ Grant-Date Fair Value ​ Units ​ Grant-Date Fair Value ​ Nonvested at January 1, 2020 ​ 480,729 ​ $ 95.45 ​ 181,680 ​ $ 117.26 ​ Granted ​ 176,424 ​ 81.75 ​ 206,408 ​ 90.85 ​ Vested ​ (112,515) ​ ​ 82.64 ​ — ​ ​ — ​ Forfeited ​ (217) ​ 100.14 ​ (589) ​ 120.61 ​ Nonvested at March 31, 2020 ​ 544,421 ​ $ 92.11 ​ 387,499 ​ $ 103.23 ​

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	3 Months Ended
	Mar. 31, 2020
EARNINGS PER SHARE
Reconciliation of Basic and Diluted Earnings Per Share	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ ​ ​ March 31, 2020 ​ March 31, 2019 ​ ​ ​ Diluted ​ Basic ​ Diluted ​ Basic Consolidated operations ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income available to common stockholders ​ $ 55,253 ​ $ 55,253 ​ $ 63,004 ​ $ 63,004 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Average equivalent shares ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Shares of common stock ​ 64,009 ​ 64,009 ​ 62,964 ​ 62,964 ​ Effect of dilutive stock-based compensation ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Stock options ​ 1,810 ​ — ​ 2,222 ​ — ​ Restricted stock ​ 292 ​ — ​ 163 ​ — ​ Total average equivalent shares ​ 66,111 ​ ​ 64,009 ​ ​ 65,349 ​ ​ 62,964 ​ Net income per share ​ $ 0.84 ​ $ 0.86 ​ $ 0.96 ​ $ 1.00 ​

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	3 Months Ended
	Mar. 31, 2020
SEGMENT INFORMATION
Financial information regarding the Company's reportable segments	Financial information regarding our reporting segments is shown below: ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, 2020 ​ 2019 Total Sales: ​ ​ ​ ​ ​ ​ ​ Beauty + Home ​ $ 330,466 ​ $ 373,503 ​ Pharma ​ 299,590 ​ 274,494 ​ Food + Beverage ​ 100,301 ​ 104,727 ​ Total Sales ​ $ 730,357 ​ $ 752,724 ​ Less: Intersegment Sales: ​ ​ ​ ​ ​ ​ ​ Beauty + Home ​ $ 5,906 ​ $ 5,844 ​ Pharma ​ 2,394 ​ 1,793 ​ Food + Beverage ​ 504 ​ 627 ​ Total Intersegment Sales ​ $ 8,804 ​ $ 8,264 ​ Net Sales: ​ ​ ​ ​ ​ ​ ​ Beauty + Home ​ $ 324,560 ​ $ 367,659 ​ Pharma ​ 297,196 ​ 272,701 ​ Food + Beverage ​ 99,797 ​ 104,100 ​ Net Sales ​ $ 721,553 ​ $ 744,460 ​ Adjusted EBITDA (1): ​ ​ ​ ​ ​ ​ ​ Beauty + Home ​ $ 34,247 ​ $ 53,191 ​ Pharma ​ 108,342 ​ 97,357 ​ Food + Beverage ​ 15,407 ​ 16,691 ​ Corporate & Other, unallocated ​ (13,828) ​ (12,755) ​ Acquisition-related costs (2) ​ ​ (2,274) ​ ​ — ​ Restructuring Initiatives (3) ​ ​ (4,839) ​ ​ (9,530) ​ Depreciation and amortization ​ ​ (50,806) ​ ​ (47,489) ​ Interest Expense ​ ​ (8,388) ​ ​ (9,214) ​ Interest Income ​ 175 ​ 1,748 ​ Income before Income Taxes ​ $ 78,036 ​ $ 89,999 ​ (1) We evaluate performance of our reporting segments and allocate resources based upon Adjusted EBITDA. Adjusted EBITDA is defined as earnings before net interest, taxes, depreciation, amortization, unallocated corporate expenses, restructuring and acquisition-related costs. (2) Acquisition-related costs include transaction costs and purchase accounting adjustments related to acquisitions and investments (see Note 17 – Acquisitions and Note 18 – Investment in Equity Securities for further details). (3) Restructuring Initiatives includes expense items for the three months ended March 31, 2020 and 2019 as follows (see Note 19 – Restructuring Initiatives for further details): ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ 2020 2019 ​ Restructuring Initiatives by Segment ​ ​ ​ ​ ​ ​ ​ Beauty + Home ​ $ 4,907 ​ $ 8,269 ​ Pharma ​ (31) ​ 326 ​ Food + Beverage ​ 103 ​ 510 ​ Corporate & Other ​ ​ (140) ​ ​ 425 ​ Total Restructuring Initiatives ​ $ 4,839 ​ $ 9,530 ​ ​
Restructuring Initiatives	​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended March 31, ​ 2020 2019 ​ Restructuring Initiatives by Segment ​ ​ ​ ​ ​ ​ ​ Beauty + Home ​ $ 4,907 ​ $ 8,269 ​ Pharma ​ (31) ​ 326 ​ Food + Beverage ​ 103 ​ 510 ​ Corporate & Other ​ ​ (140) ​ ​ 425 ​ Total Restructuring Initiatives ​ $ 4,839 ​ $ 9,530 ​

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	3 Months Ended
	Mar. 31, 2020
ACQUISITIONS
Summary of assets acquired and liabilities assumed at estimated fair value	​ ​ ​ ​ ​ ​ ​ 2019 Assets ​ ​ ​ ​ Cash and equivalents ​ $ 3,427 ​ Accounts receivable ​ 3,504 ​ Prepaid and other ​ 2,478 ​ Property, plant and equipment ​ 4,267 ​ Goodwill ​ 59,143 ​ Intangible assets ​ 52,980 ​ Other miscellaneous assets ​ 430 ​ Liabilities ​ ​ ​ ​ Accounts payable, accrued and other liabilities ​ 5,388 ​ Deferred income taxes ​ 2,592 ​ Deferred and other non-current liabilities ​ 1,598 ​ Net assets acquired ​ $ 116,651 ​
Summary of the fair value estimates of the acquired identifiable intangible assets and weighted-average useful lives as of the acquisition date	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2019 ​ ​ Weighted-Average Estimated ​ ​ Useful Life ​ Fair Value ​ ​ (in years) ​ of Asset Acquired technology 8 ​ $ 9,160 ​ Customer relationships 11 ​ 39,379 ​ Trademarks and trade names ​ 4 ​ ​ 2,457 ​ License agreements and other 1 ​ 1,984 ​ Total ​ ​ ​ $ 52,980 ​

INVESTMENT IN EQUITY SECURITI_2

INVESTMENT IN EQUITY SECURITIES (Tables)	3 Months Ended
	Mar. 31, 2020
Equity Method and Other Investments [Abstract]
Schedule of investments in equity securities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ 2020 2019 Equity Method Investments: ​ ​ ​ ​ ​ ​ ​ BTY ​ $ 31,043 ​ $ 119 ​ Kali Care ​ ​ 3,772 ​ ​ 3,881 ​ Desotec GmbH ​ ​ 811 ​ ​ 858 ​ ​ ​ ​ ​ ​ ​ ​ ​ Other Investments ​ ​ 3,541 ​ ​ 3,538 ​ ​ ​ $ 39,167 ​ $ 8,396 ​

RESTRUCTURING INITIATIVES (Tabl

RESTRUCTURING INITIATIVES (Tables)	3 Months Ended
	Mar. 31, 2020
RESTRUCTURING INITIATIVES.
Activity associated with the entity's restructuring initiatives	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning ​ Net Charges for ​ ​ ​ ​ ​ ​ ​ Ending ​ ​ Reserve at ​ the Three Months ​ ​ ​ ​ Interest and ​ Reserve at ​ ​ 12/31/2019 ​ Ended 3/31/2020 ​ Cash Paid ​ FX Impact ​ 3/31/2020 Employee severance ​ $ 7,090 ​ $ 4,066 ​ $ (503) ​ $ 187 ​ $ 10,840 ​ Professional fees and other costs ​ 3,609 ​ 773 ​ (3,069) ​ (9) ​ 1,304 ​ Totals ​ $ 10,699 ​ $ 4,839 ​ $ (3,572) ​ $ 178 ​ $ 12,144 ​

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)segment$ / shares	Mar. 31, 2019USD ($)shares	Jan. 01, 2020USD ($)	Dec. 31, 2019USD ($)$ / shares
Number of reportable segments | segment	3
Total Restructuring Initiatives	$ 4,839	$ 9,530
INVESTMENTS IN EQUITY SECURITIES
Proceeds from sale of investment in equity securities		$ 16,487
Investment in unconsolidated affiliate	20,423
GOODWILL
Impairment of goodwill	$ 0
RETIREMENT OF COMMON STOCK
Common stock repurchased (retired and held in treasury) (in shares) | shares		159
Common stock, par value (in dollars per share) | $ / shares	$ 0.01			$ 0.01
ADOPTION OF RECENT ACCOUNTING PRONOUNCEMENTS
Retained earnings	$ 1,554,665			$ 1,523,820
Adjustment | Accounting Standards Update 2016-13
ADOPTION OF RECENT ACCOUNTING PRONOUNCEMENTS
Retained earnings			$ (1,400)
Beauty + Home
Total Restructuring Initiatives	4,907	$ 8,269
Pharma
Total Restructuring Initiatives	(31)	326
Food + Beverage
Total Restructuring Initiatives	103	510
Corporate & Other
Total Restructuring Initiatives	(140)	425
Business Transformation
Total Restructuring Initiatives	$ 4,800	$ 9,500

REVENUE - Revenue by Geographic

REVENUE - Revenue by Geographic Segment (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
REVENUE
Net revenue	$ 721,553	$ 744,460
Beauty + Home
REVENUE
Net revenue	324,560	367,659
Pharma
REVENUE
Net revenue	297,196	272,701
Food + Beverage
REVENUE
Net revenue	99,797	104,100
Europe
REVENUE
Net revenue	405,849	431,368
Europe | Beauty + Home
REVENUE
Net revenue	186,950	216,233
Europe | Pharma
REVENUE
Net revenue	190,130	184,174
Europe | Food + Beverage
REVENUE
Net revenue	28,769	30,961
North America
REVENUE
Net revenue	230,400	213,871
North America | Beauty + Home
REVENUE
Net revenue	81,845	86,979
North America | Pharma
REVENUE
Net revenue	90,965	71,772
North America | Food + Beverage
REVENUE
Net revenue	57,590	55,120
Latin America
REVENUE
Net revenue	50,794	58,182
Latin America | Beauty + Home
REVENUE
Net revenue	36,181	42,642
Latin America | Pharma
REVENUE
Net revenue	6,579	7,656
Latin America | Food + Beverage
REVENUE
Net revenue	8,034	7,884
Asia
REVENUE
Net revenue	34,510	41,039
Asia | Beauty + Home
REVENUE
Net revenue	19,584	21,805
Asia | Pharma
REVENUE
Net revenue	9,522	9,099
Asia | Food + Beverage
REVENUE
Net revenue	$ 5,404	$ 10,135

REVENUE - Contract Assets and C

REVENUE - Contract Assets and Contract Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
REVENUE.
Contract asset (current)	$ 13,457	$ 16,245
Increase / (decrease) in contract asset (current)	(2,788)
Contract liability (current)	78,974	79,305
Increase / (decrease) in contract liability (current)	(331)
Contract liability (long-term)	14,994	9,779
Increase / (decrease) in contract liability (long-term)	5,215
Revenue recognized previously included in current contract liabilities	12,500
Revenue recognized previously included in current contract liabilities at beginning of the year	10,600
Unearned revenue associated with outstanding contracts	432	515
Estimated revenue to be recognized in 2020	172
Estimated revenue to be recognized in 2021	123
Estimated revenue to be recognized after 2021	137
Allowance for Credit Loss [Abstract]
Accounts and note receivable	602,027	558,428
Accounts and notes receivable, allowance for doubtful accounts (in dollars)	$ 5,657	$ 3,626

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Inventories, by component
Raw materials	$ 106,787	$ 111,653
Work in process	120,151	123,750
Finished goods	144,921	140,392
Total	$ 371,859	$ 375,795

GOODWILL AND OTHER INTANGIBLE_3

GOODWILL AND OTHER INTANGIBLE ASSETS (Schedule of Goodwill) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Changes in the carrying amount of goodwill
Goodwill	$ 757,696	$ 765,076
Accumulated impairment losses	(1,615)	(1,615)
Goodwill, Total	756,081	763,461
Acquisition	463
Foreign currency exchange effects	(7,843)
Impairment of goodwill	0
Operating segment | Beauty + Home
Changes in the carrying amount of goodwill
Goodwill	219,457	221,658
Goodwill, Total	219,457	221,658
Foreign currency exchange effects	(2,201)
Operating segment | Pharma
Changes in the carrying amount of goodwill
Goodwill	408,570	413,650
Goodwill, Total	408,570	413,650
Acquisition	463
Foreign currency exchange effects	(5,543)
Operating segment | Food + Beverage
Changes in the carrying amount of goodwill
Goodwill	128,054	128,153
Goodwill, Total	128,054	128,153
Foreign currency exchange effects	(99)
Corporate Non-Segment
Changes in the carrying amount of goodwill
Goodwill	1,615	1,615
Accumulated impairment losses	$ (1,615)	$ (1,615)

GOODWILL AND OTHER INTANGIBLE_4

GOODWILL AND OTHER INTANGIBLE ASSETS (Summary of Intangible Assets) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Amortized intangible assets:
Gross Carrying Amount	$ 372,438		$ 372,417
Accumulated Amortization	(88,317)		(81,333)
Net Value	284,121		291,084
Aggregate amortization expense	8,014	$ 6,002
Future estimated amortization expense
2020	20,725
2021	27,154
2022	26,915
2023	26,835
2024 and thereafter	$ 182,492
Weighted Average
Amortized intangible assets:
Amortization Period	13 years
Patents
Amortized intangible assets:
Gross Carrying Amount	$ 3,001		2,804
Accumulated Amortization	(1,304)		(1,318)
Net Value	$ 1,697		1,486
Patents | Weighted Average
Amortized intangible assets:
Amortization Period	7 years 10 months 24 days
Acquired technology
Amortized intangible assets:
Gross Carrying Amount	$ 99,437		100,511
Accumulated Amortization	(27,143)		(25,430)
Net Value	$ 72,294		75,081
Acquired technology | Weighted Average
Amortized intangible assets:
Amortization Period	13 years
Customer relationships
Amortized intangible assets:
Gross Carrying Amount	$ 216,198		217,934
Accumulated Amortization	(37,774)		(33,924)
Net Value	$ 178,424		184,010
Customer relationships | Weighted Average
Amortized intangible assets:
Amortization Period	13 years 8 months 12 days
Trademarks and trade names
Amortized intangible assets:
Gross Carrying Amount	$ 34,131		35,015
Accumulated Amortization	(11,919)		(11,003)
Net Value	$ 22,212		24,012
Trademarks and trade names | Weighted Average
Amortized intangible assets:
Amortization Period	6 years 10 months 24 days
License agreements and other
Amortized intangible assets:
Gross Carrying Amount	$ 19,671		16,153
Accumulated Amortization	(10,177)		(9,658)
Net Value	$ 9,494		$ 6,495
License agreements and other | Weighted Average
Amortized intangible assets:
Amortization Period	17 years 7 months 6 days

INCOME TAXES QTR (Details)

INCOME TAXES QTR (Details)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
INCOME TAXES
Effective income tax rate (as a percent)	29.20%	30.00%

DEBT - Short-term Debt Obligati

DEBT - Short-term Debt Obligations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Short-term Debt [Line Items]
Notes payable, revolving credit facility and overdrafts	$ 220,511	$ 44,259
Notes payable
Short-term Debt [Line Items]
Interest rate (as a percent)	8.10%
Notes payable, revolving credit facility and overdrafts	$ 2,664	1,436
Revolving credit facility
Short-term Debt [Line Items]
Interest rate (as a percent)	1.88%
Notes payable, revolving credit facility and overdrafts	$ 200,000	25,000
Overdrafts
Short-term Debt [Line Items]
Notes payable, revolving credit facility and overdrafts	$ 17,847	$ 17,823
Overdrafts | Minimum
Short-term Debt [Line Items]
Interest rate (as a percent)	5.68%
Overdrafts | Maximum
Short-term Debt [Line Items]
Interest rate (as a percent)	7.82%

DEBT (Details)

DEBT (Details) $ in Thousands, € in Millions	12 Months Ended
	Dec. 31, 2017USD ($)	Mar. 31, 2020USD ($)	Mar. 31, 2020EUR (€)	Dec. 31, 2019USD ($)	Dec. 31, 2019EUR (€)
Components of the company's debt obligations
Consolidated Leverage Ratio		1.73	1.73
Consolidated Interest Coverage Ratio		16.32	16.32
Long-term obligations gross including current maturities		$ 1,142,891		$ 1,153,682
Current maturities of long-term obligations		(65,049)		(65,988)
Total long-term obligations		1,077,842		1,087,694
Deferred Finance Costs, Net, Total		2,097		2,241
Deferred debt issuance costs noncurrent		2,097		2,241
Long-term obligations including current maturities		1,140,794		1,151,441
Current maturities of long-term obligations		(65,049)		(65,988)
Long-term obligations, net of unamortized debt issuance costs		1,075,745		1,085,453
Aggregate long-term maturities, excluding finance lease obligations
Year One		61,181
Year Two		60,285
Year Three		134,343
Year Four		337,444
Year Five		270,846
After Year Five		$ 250,397
Minimum
Components of the company's debt obligations
Consolidated Interest Coverage Ratio		3	3
Maximum
Components of the company's debt obligations
Consolidated Leverage Ratio		3.50	3.50
5-year revolving credit facility maturing in July 2022
Components of the company's debt obligations
Revolving credit facility maximum borrowing capacity		$ 300,000	€ 150
Compensating balance requirement		0
Amount outstanding under line of credit		200,000	€ 0	25,000	€ 0
Notes payable
Components of the company's debt obligations
Proceeds from debt	$ 280,000
Long-term obligations gross including current maturities		168,000		168,000
Deferred Finance Costs, Net, Total		352		390
Long-term obligations including current maturities		$ 167,648		$ 167,610
Interest rate on notes (as a percent)	1.36%	1.36%	1.36%	1.36%	1.36%
Floating interest rate prior to conversion to a fixed interest rate		3.10%	3.10%	3.20%	3.20%
Notes payable 0.00% - 10.90%, due in monthly and annual installments through 2028
Components of the company's debt obligations
Long-term obligations gross including current maturities		$ 15,551		$ 19,220
Long-term obligations including current maturities		$ 15,551		$ 19,220
Notes payable 0.00% - 10.90%, due in monthly and annual installments through 2028 | Minimum
Components of the company's debt obligations
Interest rate on notes (as a percent)		0.00%	0.00%	0.00%	0.00%
Notes payable 0.00% - 10.90%, due in monthly and annual installments through 2028 | Maximum
Components of the company's debt obligations
Interest rate on notes (as a percent)		10.90%	10.90%	10.90%	10.90%
Senior unsecured notes 3.2%, due in 2022
Components of the company's debt obligations
Long-term obligations gross including current maturities		$ 75,000		$ 75,000
Deferred Finance Costs, Net, Total		59		64
Long-term obligations including current maturities		$ 74,941		$ 74,936
Interest rate on notes (as a percent)		3.20%	3.20%	3.20%	3.20%
Senior unsecured notes 3.5%, due in 2023
Components of the company's debt obligations
Long-term obligations gross including current maturities		$ 125,000		$ 125,000
Deferred Finance Costs, Net, Total		135		144
Long-term obligations including current maturities		$ 124,865		$ 124,856
Interest rate on notes (as a percent)		3.50%	3.50%	3.50%	3.50%
Senior unsecured notes 0.98%, due in 2023
Components of the company's debt obligations
Long-term obligations gross including current maturities		$ 110,315		$ 112,170
Deferred Finance Costs, Net, Total		341		356
Long-term obligations including current maturities		$ 109,974		$ 111,814
Interest rate on notes (as a percent)		1.00%	1.00%	1.00%	1.00%
Senior unsecured notes 3.4%, due in 2024
Components of the company's debt obligations
Long-term obligations gross including current maturities		$ 50,000		$ 50,000
Deferred Finance Costs, Net, Total		60		63
Long-term obligations including current maturities		$ 49,940		$ 49,937
Interest rate on notes (as a percent)		3.40%	3.40%	3.40%	3.40%
Senior unsecured notes 3.5%, due in 2024
Components of the company's debt obligations
Long-term obligations gross including current maturities		$ 100,000		$ 100,000
Deferred Finance Costs, Net, Total		135		144
Long-term obligations including current maturities		$ 99,865		$ 99,856
Interest rate on notes (as a percent)		3.50%	3.50%	3.50%	3.50%
Senior unsecured notes 1.17%, due in 2024
Components of the company's debt obligations
Long-term obligations gross including current maturities		$ 220,630		$ 224,340
Deferred Finance Costs, Net, Total		701		742
Long-term obligations including current maturities		$ 219,929		$ 223,598
Interest rate on notes (as a percent)		1.20%	1.20%	1.20%	1.20%
Senior unsecured notes 3.6%, due in 2025
Components of the company's debt obligations
Long-term obligations gross including current maturities		$ 125,000		$ 125,000
Deferred Finance Costs, Net, Total		157		169
Long-term obligations including current maturities		$ 124,843		$ 124,831
Interest rate on notes (as a percent)		3.60%	3.60%	3.60%	3.60%
Senior unsecured notes 3.6%, due in 2026
Components of the company's debt obligations
Long-term obligations gross including current maturities		$ 125,000		$ 125,000
Deferred Finance Costs, Net, Total		157		169
Long-term obligations including current maturities		$ 124,843		$ 124,831
Interest rate on notes (as a percent)		3.60%	3.60%	3.60%	3.60%
Financial lease liabilities
Components of the company's debt obligations
Long-term obligations gross including current maturities		$ 28,395		$ 29,952
Long-term obligations including current maturities		$ 28,395		$ 29,952

LEASE COMMITMENTS - Components

LEASE COMMITMENTS - Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Components of lease expense:
Operating lease cost	$ 5,254	$ 6,004
Finance lease cost:
Amortization of right-of-use assets	1,199	872
Interest on lease liabilities	348	315
Total finance lease cost	1,547	1,187
Short-term lease and variable lease costs	$ 2,448	$ 1,942

LEASE COMMITMENTS - Supplementa

LEASE COMMITMENTS - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 5,328	$ 6,469
Operating cash flows from finance leases	369	243
Financing cash flows from finance leases	1,657	1,140
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	5,233	4,515
Finance leases	$ 220	$ 10,697

RETIREMENT AND DEFERRED COMPE_3

RETIREMENT AND DEFERRED COMPENSATION PLANS (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
United States
Change in benefit obligation:
Service cost	$ 3,577	$ 2,773
Interest cost	1,987	1,845
Change in plan assets:
Employer contribution	204
Components of net periodic benefit cost:
Service cost	3,577	2,773
Interest cost	1,987	1,845
Expected return on plan assets	(3,422)	(3,094)
Amortization of net loss	1,548	489
Net periodic benefit cost	3,690	2,013
Minimum funding requirements	0
Expected contribution in current fiscal year	200
Foreign Plans
Change in benefit obligation:
Service cost	1,768	1,460
Interest cost	340	501
Change in plan assets:
Employer contribution	711
Components of net periodic benefit cost:
Service cost	1,768	1,460
Interest cost	340	501
Expected return on plan assets	(634)	(592)
Amortization of net loss	514	363
Amortization of prior service cost	97	113
Net periodic benefit cost	$ 2,085	$ 1,845

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE INCOME (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Accumulated other comprehensive income activity
Balance at the beginning of the period	$ 1,571,916
Balance at the end of the period	1,587,290
Foreign Currency
Accumulated other comprehensive income activity
Balance at the beginning of the period	(257,124)	$ (248,401)
Other comprehensive income (loss) before reclassifications	(42,229)	(9,619)
Net current-period other comprehensive income (loss)	(42,229)	(9,619)
Balance at the end of the period	(299,353)	(258,020)
Defined Benefit Pension Plans
Accumulated other comprehensive income activity
Balance at the beginning of the period	(83,147)	(60,463)
Amounts reclassified from accumulated other comprehensive income	1,636	721
Net current-period other comprehensive income (loss)	1,636	721
Balance at the end of the period	(81,511)	(59,742)
Derivatives
Accumulated other comprehensive income activity
Balance at the beginning of the period	(1,677)	(1,640)
Other comprehensive income (loss) before reclassifications	5,026	5,738
Amounts reclassified from accumulated other comprehensive income	(3,543)	(6,131)
Net current-period other comprehensive income (loss)	1,483	(393)
Balance at the end of the period	(194)	(2,033)
Accumulated Other Comprehensive Income/(Loss)
Accumulated other comprehensive income activity
Balance at the beginning of the period	(341,948)	(310,504)
Other comprehensive income (loss) before reclassifications	(37,203)	(3,881)
Amounts reclassified from accumulated other comprehensive income	(1,907)	(5,410)
Net current-period other comprehensive income (loss)	(39,110)	(9,291)
Balance at the end of the period	$ (381,058)	$ (319,795)

ACCUMULATED OTHER COMPREHENSI_4

ACCUMULATED OTHER COMPREHENSIVE INCOME (Reclassifications From Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Amount Reclassified from Accumulated Other Comprehensive Income
Miscellaneous, net	$ (1,412)	$ 466
Interest expense	8,388	9,214
Total before tax	(78,036)	(89,999)
Tax benefit	22,786	27,000
Total reclassifications for the period	(55,253)	(63,004)
Amount Reclassified from Accumulated Other Comprehensive Income
Amount Reclassified from Accumulated Other Comprehensive Income
Total reclassifications for the period	(1,907)	(5,410)
Defined Benefit Pension Plans | Amount Reclassified from Accumulated Other Comprehensive Income
Amount Reclassified from Accumulated Other Comprehensive Income
Amortization of net loss	2,062	852
Amortization of prior service cost	97	113
Total before tax	2,159	965
Tax benefit	(523)	(244)
Total reclassifications for the period	1,636	721
Derivatives | Amount Reclassified from Accumulated Other Comprehensive Income
Amount Reclassified from Accumulated Other Comprehensive Income
Total reclassifications for the period	(3,543)	(6,131)
Derivatives | Cross Currency Swap Contract: Interest Component | Amount Reclassified from Accumulated Other Comprehensive Income
Amount Reclassified from Accumulated Other Comprehensive Income
Interest expense	(763)	(1,454)
Derivatives | Cross Currency Swap Contract: Foreign Exchange Component | Amount Reclassified from Accumulated Other Comprehensive Income
Amount Reclassified from Accumulated Other Comprehensive Income
Miscellaneous, net	$ (2,780)	$ (4,677)

DERIVATIVE INSTRUMENTS AND HE_3

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Cash Flow Hedge) (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2017	Dec. 31, 2019
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Net after-tax loss included in accumulated other comprehensive earnings	$ (1,483)	$ 393
Derivatives in Cash Flow Hedging Relationships
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of Gain or (Loss) Recognized in OCI on Derivative (Effective Portion)	5,026	$ 6,069
Cross Currency Swap Contract | Derivatives in Cash Flow Hedging Relationships
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount hedged			$ 280,000
Net after-tax loss included in accumulated other comprehensive earnings	200
Fair value of derivative asset	6,800
Cross Currency Swap Contract: Interest Component | Derivatives in Cash Flow Hedging Relationships
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount expected to be recognized in earnings in next twelve months related to cross currency swap contract	$ 2,200
Notes payable
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Proceeds from debt			$ 280,000
Interest rate on notes (as a percent)	1.36%		1.36%	1.36%

DERIVATIVE INSTRUMENTS AND HE_4

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Fair Value of Derivative Instruments in the Consolidated Balance Sheets) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Fair Value of Derivative Instruments
Derivative Assets	$ 8,830		$ 2,758
Derivative Liabilities	505		401
Foreign Exchange Contract, Amount of Gain (Loss) Recognized in Income on Derivative, not designated as hedging instruments	1,747	$ (263)
Foreign Exchange Contracts
Fair Value of Derivative Instruments
Aggregate amount of forward exchange contracts	56,100
Foreign Exchange Contract, Amount of Gain (Loss) Recognized in Income on Derivative, not designated as hedging instruments	1,747	$ (263)
Derivative Contracts Not Designated as Hedging Instruments
Fair Value of Derivative Instruments
Derivative Assets	2,061		206
Derivative Liabilities	505		401
Derivative Contracts Not Designated as Hedging Instruments | Foreign Exchange Contracts | Prepaid and other
Fair Value of Derivative Instruments
Derivative Assets	2,061		206
Derivative Contracts Not Designated as Hedging Instruments | Foreign Exchange Contracts | Accounts payable and accrued liabilities
Fair Value of Derivative Instruments
Derivative Liabilities	505		401
Derivative Contracts Designated as Hedging Instruments
Fair Value of Derivative Instruments
Derivative Assets	6,769		2,552
Derivative Contracts Designated as Hedging Instruments | Cross Currency Swap Contract | Prepaid and other
Fair Value of Derivative Instruments
Derivative Assets	$ 6,769		$ 2,552

DERIVATIVE INSTRUMENTS AND HE_5

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Effect of Derivative Instruments on the Consolidated Statements of Income) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Derivative instruments, gain or (loss)
Foreign Exchange Contract, Amount of Gain (Loss) Recognized in Income on Derivative, not designated as hedging instruments	$ 1,747	$ (263)
Other Nonoperating Income (Expense)	(1,412)	466
Interest Expense.	8,388	9,214
Derivatives in Cash Flow Hedging Relationships
Derivative instruments, gain or (loss)
Amount of Gain or (Loss) Recognized in OCI on Derivative (Effective Portion)	5,026	6,069
Amount of Gain (Loss) Reclassified from AOCI on Derivative	3,543	6,131
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	1,747	(263)
Cross Currency Swap Contract: Interest Component | Interest expense | Derivatives in Cash Flow Hedging Relationships
Derivative instruments, gain or (loss)
Amount of Gain or (Loss) Recognized in OCI on Derivative (Effective Portion)	2,246	1,392
Amount of Gain (Loss) Reclassified from AOCI on Derivative	763	1,454
Interest Expense.	8,388
Cross Currency Swap Contract: Foreign Exchange Component | Other Income (Expense): Miscellaneous, net | Derivatives in Cash Flow Hedging Relationships
Derivative instruments, gain or (loss)
Amount of Gain or (Loss) Recognized in OCI on Derivative (Effective Portion)	2,780	4,677
Amount of Gain (Loss) Reclassified from AOCI on Derivative	2,780	$ 4,677
Other Nonoperating Income (Expense)	$ (1,412)

DERIVATIVE INSTRUMENTS AND HE_6

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Schedule of Derivative Assets and Liabilities) (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Derivative Assets
Gross Amount	$ 8,830	$ 2,758
Net Amounts Presented in the Statement of Financial Position	8,830	2,758
Net Amount	8,830	2,758
Derivative Liabilities
Gross Amount	505	401
Net Amounts Presented in the Statement of Financial Position	505	401
Net Amount	$ 505	$ 401

FAIR VALUE (Details)

FAIR VALUE (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019	Oct. 31, 2019	May 31, 2019
Liabilities
Fair value of long-term obligations	$ 1,000,000	$ 1,100,000
Gateway Analytical
Liabilities
Fair value of contingent consideration arrangement	3,000	3,000		$ 3,000
Noble
Liabilities
Fair value of contingent consideration arrangement	2,900	2,900	$ 2,900
Assets and liabilities measured at fair value on recurring basis
Assets
Foreign exchange contracts, assets	2,061	206
Cross currency swap contract, asset	6,769	2,552
Total assets at fair value	8,830	2,758
Liabilities
Foreign exchange contracts, liabilities	505	401
Fair value of contingent consideration arrangement	5,930	5,930
Total liabilities at fair value	6,435	6,331
Assets and liabilities measured at fair value on recurring basis | Level 2
Assets
Foreign exchange contracts, assets	2,061	206
Cross currency swap contract, asset	6,769	2,552
Total assets at fair value	8,830	2,758
Liabilities
Foreign exchange contracts, liabilities	505	401
Total liabilities at fair value	505	401
Assets and liabilities measured at fair value on recurring basis | Level 3
Liabilities
Fair value of contingent consideration arrangement	5,930	5,930
Total liabilities at fair value	$ 5,930	$ 5,930

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019	Mar. 31, 2017
Brazil
Commitments and contingencies
Accrual for Environmental Loss Contingencies	$ 400,000			$ 1,500,000
Payments to settle environmental loss contingency	100,000	$ 600,000
Brazil | Reduction of gross receipts tax
Commitments and contingencies
Recovery of part of claim			$ 2,700,000
Brazil | Reduction of gross receipts tax | Cost of Sales
Commitments and contingencies
Recovery of part of claim			1,700,000
Brazil | Reduction of gross receipts tax | Interest Income
Commitments and contingencies
Recovery of part of claim			$ 1,000,000
Brazil | Minimum | Reduction of gross receipts tax
Commitments and contingencies
Estimated potential gain contingency, recoveries	2,000,000
Brazil | Maximum | Reduction of gross receipts tax
Commitments and contingencies
Estimated potential gain contingency, recoveries	8,000,000
Indemnification agreements
Commitments and contingencies
Liabilities recorded under indemnification agreements	0	0
Tax Assessment | Brazil
Commitments and contingencies
Estimated loss contingency		6,100,000
Loss contingency liability recorded	0
Tax Assessment, Interest | Brazil
Commitments and contingencies
Estimated loss contingency		2,300,000
Tax Assessment, Penalites | Brazil
Commitments and contingencies
Estimated loss contingency		$ 800,000
Fire damage | France
Commitments and contingencies
Estimated potential gain contingency, recoveries	0
Insurance receivable	$ 0

STOCK REPURCHASE PROGRAM (Detai

STOCK REPURCHASE PROGRAM (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2020	Apr. 18, 2019
Stock repurchase program
Aggregate amount of share repurchases (in dollars)	$ 15,000
Common stock repurchased (retired and held in treasury) (in shares)	159
Common stock repurchased (retired and held in treasury)	$ 15,000
Remaining authorized repurchase amount		$ 278,500
Stock Repurchase Program April 18, 2019
Stock repurchase program
Share repurchases authorized amount			$ 350,000

STOCK-BASED COMPENSATION (Detai

STOCK-BASED COMPENSATION (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
STOCK-BASED COMPENSATION
Proceeds from stock option exercises	$ 18,602	$ 20,939
Stock options
STOCK-BASED COMPENSATION
Award vesting period	3 years
Expiration period	10 years
Compensation expense	$ 900	1,800
Compensation expense, net of tax	700	1,500
Fair value of shares vested	7,600	12,200
Proceeds from stock option exercises	18,600
Actual tax benefit realized for the tax deduction from option exercises	4,800
Unrecognized compensation cost expected to be recognized in future periods	$ 1,500
Weighted-average period over which compensation cost is expected to be recognized	10 months 24 days
Stock options | Selling, research & development and administrative expenses
STOCK-BASED COMPENSATION
Compensation expense	$ 700	1,600
Restricted stock units
STOCK-BASED COMPENSATION
Compensation expense	8,300	4,700
Actual tax benefit realized for the tax deduction from option exercises	1,500
Unrecognized compensation cost expected to be recognized in future periods	$ 62,700
Weighted-average period over which compensation cost is expected to be recognized	2 years 3 months 18 days
Weighted-Average Grant-Date Fair Value
Fair value of units vested	$ 9,300	2,700
Intrinsic value of units vested	$ 11,500	$ 3,200
Restricted stock units (time-based)
STOCK-BASED COMPENSATION
Award vesting period	3 years
Restricted stock unit activity
Balance at the beginning of the period (in shares)	480,729
Granted (in shares)	176,424
Vested (in shares)	(112,515)
Forfeited (in shares)	(217)
Balance at the end of the period (in shares)	544,421
Weighted-Average Grant-Date Fair Value
Nonvested at the beginning of the period (in dollars per share)	$ 95.45
Granted (in dollars per share)	81.75
Vested (in dollars per share)	82.64
Forfeited (in dollars per share)	100.14
Nonvested at the end of the period (in dollars per share)	$ 92.11
Restricted stock units (performance-based)
STOCK-BASED COMPENSATION
Award vesting period	3 years
Assumptions used to estimate fair value of stock options granted
Dividend Yield (as a percent)	1.72%	1.30%
Expected Stock Price Volatility (as a percent)	23.80%	16.50%
Risk-free Interest Rate (as a percent)	0.31%	2.19%
Assumptions used to estimate fair value of restricted stock units granted
Fair value per stock award (in dollars per share)	$ 94.98	$ 134.97
Grant date stock price (in dollars per share)	$ 83.93	$ 104.51
Expected Stock Price Volatility (as a percent)	23.80%	16.50%
Expected average volatility of peer companies (as a percent)	48.50%	31.90%
Correlation assumption (as a percent)	63.50%	37.40%
Risk-free Interest Rate (as a percent)	0.31%	2.19%
Dividend Yield (as a percent)	1.72%	1.30%
Restricted stock unit activity
Balance at the beginning of the period (in shares)	181,680
Granted (in shares)	206,408
Forfeited (in shares)	(589)
Balance at the end of the period (in shares)	387,499
Weighted-Average Grant-Date Fair Value
Nonvested at the beginning of the period (in dollars per share)	$ 117.26
Granted (in dollars per share)	90.85
Forfeited (in dollars per share)	120.61
Nonvested at the end of the period (in dollars per share)	$ 103.23
Stock Awards Plans | Stock options
Stock options activity
Outstanding at the beginning of the period (in shares)	5,044,180
Exercised (in shares)	(292,090)
Forfeited or expired (in shares)	(6,630)
Outstanding at the end of the period (in shares)	4,745,460
Exercisable at the end of the period (in shares)	4,583,864
Weighted Average Exercise Price
Outstanding at the beginning of the period (in dollars per share)	$ 68.32
Exercised (in dollars per share)	55.16
Forfeited or expired (in dollars per share)	65.60
Outstanding at the end of the period (in dollars per share)	69.20
Exercisable at the end of the period (in dollars per share)	$ 68.43
Weighted-Average Remaining Contractual Term (Years):
Outstanding at the end of the period	5 years 3 months 18 days
Exercisable at the end of the period	5 years 1 month 6 days
Aggregate Intrinsic Value:
Outstanding at the end of the period	$ 143,971
Exercisable at the end of the period	142,195
Intrinsic Value of Options Exercised	$ 18,202	$ 14,047
Director Stock Option Plans | Stock options
Stock options activity
Outstanding at the beginning of the period (in shares)	135,251
Exercised (in shares)	(21,251)
Outstanding at the end of the period (in shares)	114,000
Exercisable at the end of the period (in shares)	114,000
Weighted Average Exercise Price
Outstanding at the beginning of the period (in dollars per share)	$ 58.45
Exercised (in dollars per share)	51.20
Outstanding at the end of the period (in dollars per share)	59.80
Exercisable at the end of the period (in dollars per share)	$ 59.80
Weighted-Average Remaining Contractual Term (Years):
Outstanding at the end of the period	3 years 2 months 12 days
Exercisable at the end of the period	3 years 2 months 12 days
Aggregate Intrinsic Value:
Outstanding at the end of the period	$ 4,530
Exercisable at the end of the period	4,530
Intrinsic Value of Options Exercised	$ 1,385	$ 51
Director Stock Option Plans | Restricted stock units
STOCK-BASED COMPENSATION
Award vesting period	1 year
Director Stock Option Plans | Restricted stock units (time-based)
Restricted stock unit activity
Granted (in shares)	11,490

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Earning per share
Authorized common stock (in shares)	199,000		199,000
Common stock, par value (in dollars per share)	$ 0.01		$ 0.01
Income (Numerator)
Income available to common stockholders, basic (in dollars)	$ 55,253	$ 63,004
Income available to common stockholders, diluted (in dollars)	$ 55,253	$ 63,004
Shares (Denominator)
Basic (in shares)	64,009	62,964
Total average equivalent shares	66,111	65,349
Per Share Amount
Net income per share, basic (in dollars per share)	$ 0.86	$ 1
Net income per share, diluted (in dollars per share)	$ 0.84	$ 0.96
Stock options
Shares (Denominator)
Effect of dilutive stock based compensation (in shares)	1,810	2,222
Restricted stock units
Shares (Denominator)
Effect of dilutive stock based compensation (in shares)	292	163

SEGMENT INFORMATION (Summary of

SEGMENT INFORMATION (Summary of Reportable Segments) (Details) $ in Thousands	3 Months Ended		27 Months Ended
	Mar. 31, 2020USD ($)segment	Mar. 31, 2019USD ($)	Mar. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Financial information regarding the Company's reportable segments
Number of reportable segments | segment	3
Net sales	$ 721,553	$ 744,460
Acquisition related costs	(2,274)
Total Restructuring Initiatives	4,839	9,530
Depreciation and amortization	50,806	47,489
Interest expense	(8,388)	(9,214)
Interest income	175	1,748
Income before Income Taxes	78,036	89,999
Capital Expenditures	61,625	51,742
Total Assets	3,776,552		$ 3,776,552	$ 3,562,119
Employee severance
Financial information regarding the Company's reportable segments
Total Restructuring Initiatives	4,066
Business Transformation
Financial information regarding the Company's reportable segments
Total Restructuring Initiatives	4,800	9,500
Capital Expenditures			$ 40,000
Beauty + Home
Financial information regarding the Company's reportable segments
Net sales	324,560	367,659
Adjusted EBITDA	34,247	53,191
Total Restructuring Initiatives	4,907	8,269
Pharma
Financial information regarding the Company's reportable segments
Net sales	297,196	272,701
Adjusted EBITDA	108,342	97,357
Total Restructuring Initiatives	(31)	326
Food + Beverage
Financial information regarding the Company's reportable segments
Net sales	99,797	104,100
Adjusted EBITDA	15,407	16,691
Total Restructuring Initiatives	103	510
Corporate & Other
Financial information regarding the Company's reportable segments
Adjusted EBITDA	(13,828)	(12,755)
Total Restructuring Initiatives	(140)	425
Operating segment
Financial information regarding the Company's reportable segments
Net sales	730,357	752,724
Operating segment | Beauty + Home
Financial information regarding the Company's reportable segments
Net sales	330,466	373,503
Operating segment | Pharma
Financial information regarding the Company's reportable segments
Net sales	299,590	274,494
Operating segment | Food + Beverage
Financial information regarding the Company's reportable segments
Net sales	100,301	104,727
Intersegment
Financial information regarding the Company's reportable segments
Net sales	8,804	8,264
Intersegment | Beauty + Home
Financial information regarding the Company's reportable segments
Net sales	5,906	5,844
Intersegment | Pharma
Financial information regarding the Company's reportable segments
Net sales	2,394	1,793
Intersegment | Food + Beverage
Financial information regarding the Company's reportable segments
Net sales	$ 504	$ 627

ACQUISITIONS (Details)

ACQUISITIONS (Details) - USD ($) $ in Thousands	Apr. 01, 2020	Oct. 31, 2019	Aug. 02, 2019	Jun. 05, 2019	May 31, 2019	Mar. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Acquisitions
Acquisition related costs						$ (2,274)
Restricted cash included in prepaid and other						4,003
Assets
Goodwill						756,081	$ 763,461
Bapco
Acquisitions
Ownership interest previously held								20.00%
Fusion Packaging | Subsequent Events
Acquisitions
Percentage of interest acquired	100.00%
Cost of acquired entity	$ 165,000
Earn-out provision payment maximum under the purchase agreement	$ 33,900
Term of earn-out provision	3 years
2019 Acquisitions
Acquisitions
Goodwill expected to be tax deductible							29,600
Assets
Cash and equivalents							3,427
Accounts receivable							3,504
Prepaid and other							2,478
Property, plant and equipment							4,267
Goodwill							59,143
Intangible assets							52,980
Other miscellaneous assets							430
Liabilities
Accounts payable, accrued and other liabilities							5,388
Deferred income taxes							2,592
Deferred and other non-current liabilities							1,598
Net assets acquired							116,651
Noble
Acquisitions
Percentage of interest acquired		100.00%
Acquisition of business, net of cash received		$ 62,300				463
Fair value of contingent consideration arrangement		2,900				2,900	2,900
Restricted cash included in prepaid and other							5,000
Working capital escrow released						1,000
Assets
Cash and equivalents		$ 1,600
Gateway Analytical
Acquisitions
Acquisition of business, net of cash received					$ 7,000
Fair value of contingent consideration arrangement					$ 3,000	$ 3,000	$ 3,000
Nanopharm
Acquisitions
Acquisition of business, net of cash received				$ 38,100
Assets
Cash and equivalents				$ 1,800
Bapco
Acquisitions
Percentage of interest acquired			80.00%
Acquisition of business, net of cash received			$ 3,800
Assets
Cash and equivalents			$ 2,900

ACQUISITIONS (Acquired Intangib

ACQUISITIONS (Acquired Intangibles) (Details) - 2019 Acquisitions $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)
Acquired finite-lived intangible assets
Estimated Fair Value of Asset	$ 52,980
Acquired technology
Acquired finite-lived intangible assets
Weighted average useful life	8 years
Estimated Fair Value of Asset	$ 9,160
Customer relationships
Acquired finite-lived intangible assets
Weighted average useful life	11 years
Estimated Fair Value of Asset	$ 39,379
Trademarks and trade names
Acquired finite-lived intangible assets
Weighted average useful life	4 years
Estimated Fair Value of Asset	$ 2,457
License agreements and other
Acquired finite-lived intangible assets
Weighted average useful life	1 year
Estimated Fair Value of Asset	$ 1,984

INVESTMENT IN EQUITY SECURITI_3

INVESTMENT IN EQUITY SECURITIES (Details) € in Thousands, $ in Thousands	Apr. 01, 2020USD ($)	Oct. 01, 2019	Mar. 31, 2020USD ($)	Mar. 31, 2019USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2009EUR (€)	Jan. 01, 2020USD ($)	Dec. 31, 2019USD ($)	Aug. 31, 2019USD ($)
Other Investments			$ 3,541					$ 3,538
Total equity method and other investments			39,167					8,396
Investment in unconsolidated affiliate			20,423
Proceeds from sale of investment in equity securities				$ 16,487
Preferred equity stocks
Other Investments									$ 3,500
Number of preferred equity investments									2
Investment impairment			0
BTY
Equity method investments			31,043				$ 31,000	119
Ownership percentage of equity method investment							49.00%
Payment for equity method investment			20,000
Obligation associated with an agreement to acquire equity method investement			11,000
BTY | Strategic Definitive Agreement
Ownership percentage of equity method investment		49.00%
Initial lock-up period		5 years
Second lock-up period		3 years
BTY | Strategic Definitive Agreement | Call Option | Minimum
Ownership percentage of equity method investment		26.00%
BTY | Strategic Definitive Agreement | Call Option | Maximum
Ownership percentage of equity method investment		31.00%
Kali Care
Equity method investments			3,772					3,881
Investment in unconsolidated affiliate					$ 5,000
Ownership percentage of equity method investment					20.00%
Desotec GmbH
Equity method investments			$ 811					$ 858
Investment in unconsolidated affiliate | €						€ 574
Ownership percentage of equity method investment						23.00%
Healthcare, Inc. | Subsequent Events
Investment in unconsolidated affiliate	$ 5,000
Ownership percentage of equity method investment	30.00%

RESTRUCTURING INITIATIVE (Detai

RESTRUCTURING INITIATIVE (Details) - USD ($) $ in Thousands	3 Months Ended		27 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020
Restructuring initiatives
Capital Expenditures	$ 61,625	$ 51,742
Restructuring reserve
Restructuring reserve, balance at the beginning of the period	10,699
Expense recognized related to the plan	4,839	9,530
Cash paid	(3,572)
Interest and FX impact	178
Restructuring reserve, balance at the end of the period	12,144		$ 12,144
Employee severance
Restructuring reserve
Restructuring reserve, balance at the beginning of the period	7,090
Expense recognized related to the plan	4,066
Cash paid	(503)
Interest and FX impact	187
Restructuring reserve, balance at the end of the period	10,840		10,840
Professional fees and other costs
Restructuring reserve
Restructuring reserve, balance at the beginning of the period	3,609
Expense recognized related to the plan	773
Cash paid	(3,069)
Interest and FX impact	(9)
Restructuring reserve, balance at the end of the period	1,304		1,304
Business Transformation
Restructuring initiatives
Expected implementation costs	110,000		110,000
Expected capital investments related to transformation plan	50,000		50,000
Cumulative expense incurred	91,300		91,300
Capital Expenditures			$ 40,000
Restructuring reserve
Expense recognized related to the plan	4,800	9,500
Beauty + Home
Restructuring reserve
Expense recognized related to the plan	4,907	8,269
Pharma
Restructuring reserve
Expense recognized related to the plan	(31)	326
Food + Beverage
Restructuring reserve
Expense recognized related to the plan	103	510
Corporate & Other
Restructuring reserve
Expense recognized related to the plan	$ (140)	$ 425

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - Subsequent Events - Fusion Packaging $ in Millions	Apr. 01, 2020USD ($)
Subsequent Event [Line Items]
Percentage of interest acquired	100.00%
Cost of acquired entity	$ 165