XML 58 R11.htm IDEA: XBRL DOCUMENT
v3.2.0.727

Restructuring | 6 Months Ended
--- | ---
Jun. 30, 2015
Restructuring [Abstract] |
Restructuring | 5. Restructuring During the first quarter of 2015, the Company announced a plan to discontinue manufacturing operations at its press fabric manufacturing facility in Göppingen, Germany. The restructuring program was driven by the Company's need to balance manufacturing capacity with demand. In April 2015, we reached agreement on the restructuring plan with the Works Council and manufacturing operations discontinued during the second quarter. Approximately 50 employees were terminated under this plan, and the restructuring expense recorded in 2015 reflects our estimate of the severance costs. It is possible that we will incur additional charges for impairment of property, plant and equipment, but no impairment is presently determinable. Whereas the affected employees were related to manufacturing operations, cost savings associated with this action were recorded in Cost of goods sold. Machine Clothing restructuring costs in 2014 were principally related to restructuring actions in France. Albany Engineered Composites restructuring expense in 2014 was related to organizational changes. The following table summarizes charges reported in the Statements of Income under “Restructuring expenses, net”:
|  |  | Three months ended June 30, |  |  |  | Six months ended June 30, |
(in thousands) |  |  | 2015 |  |  | 2014 |  |  | 2015 |  |  | 2014
Machine Clothing |  |  | $ | 1,211 |  |  |  |  | $ | 1,297 |  |  |  |  | $ | 10,212 |  |  |  |  | $ | 2,159 |  |
Albany Engineered Composites |  |  |  | - |  |  |  |  |  | 660 |  |  |  |  |  | - |  |  |  |  |  | 980 |  |
Total |  |  | $ | 1,211 |  |  |  |  | $ | 1,957 |  |  |  |  | $ | 10,212 |  |  |  |  | $ | 3,139 |  |
Six months ended June 30, 2015 (in thousands) |  |  | Total restructuring costs incurred |  |  | Termination and other costs |  |  | Impairment of plant and equipment |  |  | Benefit plan curtailment/ settlement
Machine Clothing |  |  | $ | 10,212 |  |  |  |  | $ | 10,212 |  |  |  |  | $ | - |  |  |  |  | $ | - |  |
Albany Engineered Composites |  |  |  | - |  |  |  |  |  | - |  |  |  |  |  | - |  |  |  |  |  | - |  |
Total |  |  | $ | 10,212 |  |  |  |  | $ | 10,212 |  |  |  |  | $ | - |  |  |  |  | $ | - |  |
Six months ended June 30, 2014 (in thousands) |  | Total restructuring costs incurred |  | Termination and other costs |  | Impairment of plant and equipment |  | Benefit plan curtailment/ settlement
Machine Clothing | $ | 2,159 |  | $ | 2,869 |  | $ | - |  | $ | (710 | )
Albany Engineered Composites |  | 980 |  |  | 320 |  |  | 660 |  |  | - |
Total | $ | 3,139 |  | $ | 3,189 |  | $ | 660 |  | $ | (710 | )
We expect that substantially all Accrued liabilities for restructuring will be paid within one year. The table below presents year-to-date changes in restructuring liabilities for 2015 and 2014, all of which related to termination costs:
|  |  |  | Restructuring |  |  |  | Currency |  |  |
(in thousands) |  | December 31, 2014 |  | charges accrued |  | Payments |  | translation/ other |  |  | June 30, 2015
Total termination costs | $ | 1,874 |  | $ | 10,212 |  | $ | (9,229 | ) | $ | (192 | ) | $ | 2,665 |
|  |  |  |  | Restructuring |  |  |  | Currency |  |  |
(in thousands) |  |  | December 31, 2013 |  | charges accrued |  | Payments |  | translation/ other |  |  | June 30, 2014
Total termination costs | $ | 9,656 |  | $ | 3,189 |  | $ | (8,675 | ) | $ | (144 | ) | $ | 4,026 |

X
- References No definition available. + 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=27011515&loc=d3e140904-122747 Reference 2: 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=27011515&loc=d3e140864-122747 Reference 3: 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 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 5 -Section P -Subsection 3, 4 + Details
Name: | us-gaap_RestructuringAndRelatedActivitiesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration