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Reportable Segments | 6 Months Ended
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Jun. 30, 2013
Reportable Segments [Abstract] |
Reportable Segments | 3. Reportable Segments The following tables show data by reportable segment, reconciled to consolidated totals included in the financial statements:
|  | Three months ended June 30, |  | Six months ended June 30,
(in thousands) |  | 2013 |  | 2012 |  | 2013 |  | 2012
Net sales |  |  |  |  |  |  |  |  |  |  |  |
Machine Clothing (MC) |  | $177,536 |  |  | $177,122 |  |  | $344,946 |  |  | $341,410 |
Engineered Composites (AEC) |  | 20,438 |  |  | 14,818 |  |  | 39,682 |  |  | 30,607 |
Consolidated total |  | $197,974 |  |  | $191,940 |  |  | $384,628 |  |  | $372,017 |
Operating income/(loss) |  |  |  |  |  |  |  |  |  |  |  |
Machine Clothing |  | $20,699 |  |  | $44,997 |  |  | $63,607 |  |  | $75,842 |
Engineered Composites |  | (1,825 | ) |  | (369 | ) |  | (3,888 | ) |  | (340 | )
Research expense |  | (7,673 | ) |  | (7,253 | ) |  | (14,664 | ) |  | (13,318 | )
Unallocated expenses |  | (14,714 | ) |  | (123,379 | ) |  | (26,050 | ) |  | (149,097 | )
Operating income/(loss) before reconciling items |  | (3,513 | ) |  | (86,004 | ) |  | 19,005 |  |  | (86,913 | )
Reconciling items: |  |  |  |  |  |  |  |  |  |  |  |
Interest income |  | (300 | ) |  | (522 | ) |  | (600 | ) |  | (606 | )
Interest expense |  | 3,847 |  |  | 4,491 |  |  | 8,172 |  |  | 9,219 |
Other expense/ (income), net |  | 2,211 |  |  | (2,555 | ) |  | 2,945 |  |  | 1,993 |
Income/(loss) from continuing operations before income taxes |  | ($9,271 | ) |  | ($87,418 | ) |  | $8,488 |  |  | ($97,519 | )
The table below presents pension settlement and restructuring costs by reportable segment (also see Note 5):
|  | Three months ended June 30, |  | Six months ended June 30,
(in thousands) |  | 2013 |  | 2012 |  | 2013 |  | 2012
Pension settlement |  |  |  |  |  |  |  |
Unallocated expenses |  | $0 |  | $110,560 |  | $0 |  | $119,735 |
Restructuring expense |  |  |  |  |  |  |  |
Machine Clothing |  | $24,230 |  | $2,903 |  | $24,423 |  | $3,576 |
Engineered Composites |  | 91 |  | - |  | 534 |  | - |
Unallocated expenses |  | - |  | 249 |  | - |  | (166 | )
Consolidated total |  | $24,321 |  | $3,152 |  | $24,957 |  | $3,410 |
Substantially all of the restructuring charges recorded in the second quarter of 2013 relate to the completion of consultations with employee works councils in Sélestat and St. Junien, France, which will result in the reduction of approximately 200 employees, most of which will leave the Company during the third quarter of 2013. The restructuring program was driven by the Company's need to balance manufacturing capacity and demand. Through the first six months of 2013, the Company incurred some restructuring costs in the Engineered Composites segment that were related to organizational changes and exiting certain aerospace programs. The 2012 restructuring expense was principally due to a reduction in workforce in Sweden and curtailment of manufacturing in New York and Wisconsin which was related to the lower demand for paper machine clothing. Those costs were partially offset by a reduction in accruals related to the Company's headquarters. There were no material changes in the total assets of the reportable segments during this period.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 + Details
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