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TableofContents
Item9.ChangesinandDisagreementsWithAccountantsonAccountingandFinancialDisclosure.
None.
Item9A.ControlsandProcedures.
a.TheCompanycarriedoutanevaluation,underthesupervisionandwiththeparticipationofitsmanagement,includingtheChief
ExecutiveOfficerandChiefFinancialOfficer,oftheeffectivenessofthedesignandoperationoftheCompany’s“disclosurecontrols
andprocedures”(asdefinedintheExchangeActRule13a-15(e))asoftheendoftheperiodcoveredbythisreport.Baseduponthat
evaluation,theChiefExecutiveOfficerandChiefFinancialOfficerconcludedthattheCompany’sdisclosurecontrolsand
proceduresareeffective.
b.TheCompany’smanagementisresponsibleforestablishingandmaintaininganadequatesystemofinternalcontroloverfinancial
reporting,asdefinedintheExchangeActRule13a-15(f).ManagementconductedanassessmentoftheCompany’sinternalcontrol
overfinancialreportingbasedontheframeworkestablishedbytheCommitteeofSponsoringOrganizationsoftheTreadway
CommissioninInternalControl—IntegratedFramework(2013).Basedontheassessment,managementconcludedthat,asof
December31,2015,theCompany’sinternalcontroloverfinancialreportingiseffective.Management’sassessmentofthe
effectivenessoftheCompany’sinternalcontroloverfinancialreportingasofDecember31,2015excludedCapitalSafetyGroup
S.A.R.L.andPolyporeInternational,Inc.’sSeparationMediaBusiness,whichwerebothacquiredbytheCompanyinAugust2015
inpurchasebusinesscombinations.Theseacquiredbusinesses’totalassetsandtotalnetsales,intheaggregate,representedlessthan
2percentandlessthan1percent,respectively,oftheCompany’sconsolidatedfinancialstatementamountsasofandfortheyear
endedDecember31,2015.Companiesareallowedtoexcludeacquisitionsfromtheirassessmentofinternalcontroloverfinancial
reportingduringthefirstyearofacquisitionwhileintegratingtheacquiredcompanyunderguidelinesestablishedbytheSecurities
andExchangeCommission.TheCompany’sinternalcontroloverfinancialreportingasofDecember31,2015hasbeenauditedby
PricewaterhouseCoopersLLP,anindependentregisteredpublicaccountingfirm,asstatedintheirreportwhichisincludedherein,
whichexpressesanunqualifiedopinionontheeffectivenessoftheCompany’sinternalcontroloverfinancialreportingasof
December31,2015.
c.TherewasnochangeintheCompany’sinternalcontroloverfinancialreportingthatoccurredduringtheCompany’smostrecently
completedfiscalquarterthathasmateriallyaffected,orisreasonablylikelytomateriallyaffect,theCompany’sinternalcontrolover
financialreporting.
TheCompanyisimplementinganenterpriseresourceplanning(“ERP”)systemonaworldwidebasis,whichisexpectedtoimprove
theefficiencyofcertainfinancialandrelatedtransactionprocesses.Thegradualimplementationisexpectedtooccurinphasesover
thenextseveralyears.TheimplementationofaworldwideERPsystemwilllikelyaffecttheprocessesthatconstituteourinternal
controloverfinancialreportingandwillrequiretestingforeffectiveness.
TheCompanycompletedimplementationwithrespecttoelementsofcertainprocesses/sub-processesinlimited
subsidiaries/locationsandwillcontinuetoroll-outtheERPsystemoverthenextseveralyears.Aswithanynewinformation
technologyapplicationweimplement,thisapplication,alongwiththeinternalcontrolsoverfinancialreportingincludedinthis
process,wasappropriatelyconsideredwithinthetestingforeffectivenesswithrespecttotheimplementationintheseinstances.We
concluded,aspartofourevaluationdescribedintheaboveparagraphs,thattheimplementationofERPinthesecircumstanceshas
notmateriallyaffectedourinternalcontroloverfinancialreporting.
Item9B.OtherInformation.
None.
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