DECONSOLIDATION |
9 Months Ended |
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Sep. 30, 2026 | |
| Disaggregation of Income Statement Expense [Abstract] | |
| DECONSOLIDATION | DECONSOLIDATION Effective as of September 21, 2026, we concluded that we no longer met the accounting criteria for consolidation of our Russian subsidiary due to a loss of control over our Russian operations. On September 21, 2026, the President of the Russian Federation issued a governmental decree that placed the Company's Russian subsidiary, OOO Aptar Vladimir ("Aptar Vladimir"), under external administration. Historically all three segments produced and sold products out of our Russian subsidiary. As part of our segment realignment, this subsidiary was primarily used by our Closures segment. As of the close of the third quarter 2026, we deconsolidated and changed to the cost method of accounting for our Russian operations. We recorded a $58.0 million loss on deconsolidation as we reduced the value of our cost method investment in the Russian subsidiary resulting in the full impairment of that investment. We also recorded a $2.6 million CECL reserve related to all Russian receivables held by our other subsidiaries and $0.5 million in legal costs. The recorded loss on deconsolidation also included $18.7 million of historical cumulative translation adjustments related to our Russian operations that had previously been recorded in accumulated other comprehensive income within equity. Additionally, $30.0 million of cash held by our Russian subsidiary to which we no longer have access is reflected within the investing section of the Condensed Consolidated Statements of Cash Flows. We have determined the fair value of our investment in our Russian subsidiary to be insignificant because recovery of any amounts from the Russian government related to the expropriation is highly unlikely given uncertainty around any potential recovery through legal proceedings. Russian counter-sanction measures restrict the Company’s ability to sell, transfer or repatriate value from the Russian business and that any disposition would require Russian governmental approval, and we have no continuing commercial relationship with, or obligations to, Aptar Vladimir. As of September 21, 2026, we no longer include sales, earnings or net assets of our Russian subsidiary within our consolidated financial statements. Under the cost method of accounting, we will recognize earnings only to the extent cash is received from our Russian subsidiary. We will monitor the extent of our ability to control our Russian operations as our current situation in Russia may change over time and lead to re-consolidation at a future date. Aptar will account for any potential recovery from the Russian government, the external administrator or a sale only when realized.
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