XML 92 R11.htm IDEA: XBRL DOCUMENT
v2.4.0.6

Restructuring | 12 Months Ended
--- | ---
Dec. 31, 2011
Restructuring [Abstract] |
Restructuring | 5. Restructuring In 2011, we incurred restructuring costs principally due to actions to merge the Paper Machine Clothing and Engineered Fabrics (EF) reportable segments, to reduce Paper Machine Clothing manufacturing capacity in the United States, and to move the Company headquarters offices from New York to New Hampshire. Restructuring costs totaled $9.3 million, including a $1.8 million provision for impairment of property and equipment at the Company's location in Albany, New York. The Company expects to incur additional restructuring expense in 2012 related to the merger of Paper Machine Clothing and EF, and the movement of the Company headquarters, but is presently unable to determine the amount of additional expense that may be incurred. On February 23, 2012, we announced that our subsidiary in France has initiated consultation with the employee works council in France regarding a proposal to cease operations at the Company's facility in St. Junien. The consultation will be completed in accordance with applicable French legislation. Restructuring expenses for 2009 and 2010 were the result of previously announced restructuring and performance improvement plans affecting each of our reportable segments. The restructuring activities were driven by the need for us to balance our manufacturing capacity with anticipated demand, improving efficiency in all aspects of our business, and to strengthen our competitive position. We also took actions to reduce costs and to create process efficiencies within STG&R. Restructuring expenses totaled $68.2 million in 2009 and $3.7 million in 2010. Restructuring expense was reduced by pension and postretirement net curtailment gains of $6.6 million in 2009 and $1.2 million in 2010. Paper Machine Clothing restructuring activities in 2009 and 2010 included closure or significant reductions of manufacturing in Canada, France, Finland, Germany, Sweden, Australia, and the United States. Restructuring expense included provisions for property, plant, and equipment impairments of $1.2 million in 2010, and $8.6 million in 2009. Restructuring expense in 2009 included $5.1 million in impairment provisions related to a joint venture investment located in South Africa. The Engineered Fabrics business was affected by the announcement of a plan in June 2009 to discontinue manufacturing at its plant in Gosford, Australia, and to transfer production to its St. Stephen, South Carolina, manufacturing facility. The actions as part of that plan resulted in net restructuring charges in our EF segment of $4.3 million in 2009 and $1.1 million in 2010. Restructuring expense in 2009 included a $4.8 million charge for the impairment of plant and equipment. The following table summarizes charges reported in the Statements of Operations and Retained Earnings under Restructuring and other, net:
Year ended December 31, 2011 (in thousands) | Total restructuring costs incurred | Termination and other costs | Impairment of plant and equipment | Benefit plan curtailment/ settlement
Paper Machine Clothing | $3,260 | $3,260 | $ - | $ -
Engineered Fabrics | 2,420 | 2,224 | - | 196
Engineered Composites | 57 | 57 | - | -
Corporate and other unallocated | 3,580 | 1,830 | 1,750 | -
Total | $9,317 | $7,371 | $1,750 | $196
Year ended December 31, 2010 (in thousands) | Total restructuring costs incurred | Termination and other costs | Impairment of plant and equipment | Benefit plan curtailment/ settlement
Paper Machine Clothing | $3,705 | $1,710 | $1,243 | $752
Engineered Fabrics | 1,057 | 1,057 | - | -
Engineered Composites | 930 | 930 | - | -
Corporate and other unallocated | (1,945) | - | - | (1,945)
Total | $3,747 | $3,697 | $1,243 | ($1,193)
Year ended December 31, 2009 (in thousands) | Total restructuring costs incurred | Termination and other costs | Impairment of plant and equipment | Benefit plan curtailment/ settlement
Paper Machine Clothing | $66,941 | $53,803 | $13,678 | ($540)
Engineered Fabrics | 4,311 | (906) | 4,849 | 368
Engineered Composites | 291 | 291 | - | -
PrimaLoft® Products | 61 | 61 | - | -
Corporate and other unallocated | (3,430) | 3,022 | - | (6,452)
Total | $68,174 | $56,271 | $18,527 | ($6,624)
We expect that substantially all accruals for restructuring liabilities will be paid within one year. The table below presents the changes in restructuring liabilities:
|  | Restructuring |  |  |
(in thousands) | December 31, 2010 | charges accrued | Payments | Currency translation/other | December 31, 2011
Termination costs | $2,809 | $6,890 | ($2,707) | ($13) | $6,979
Total | $2,809 | $6,890 | ($2,707) | ($13) | $6,979
|  | Restructuring |  |  |
(in thousands) | December 31, 2009 | charges accrued | Payments | Currency translation/other | December 31, 2010
Termination costs | $19,301 | $2,714 | ($19,100) | ($106) | $2,809
Total | $19,301 | $2,714 | ($19,100) | ($106) | $2,809

X
- Details
Name: | us-gaap_RestructuringAndRelatedActivitiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 5.P.4) -URI http://asc.fasb.org/extlink&oid=6394695&loc=d3e140904-122747 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 146 -Paragraph 20 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 5 -Section P -Subsection 3, 4 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 5.P.3) -URI http://asc.fasb.org/extlink&oid=6394695&loc=d3e140864-122747 + Details
Name: | us-gaap_RestructuringAndRelatedActivitiesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration