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Restructuring | 12 Months Ended
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Dec. 31, 2015
Restructuring [Abstract] |
Restructuring | 5. Restructuring In 2015, the Company announced a plan to discontinue manufacturing operations at its press fabric manufacturing facility in Göppingen, Germany and manufacturing operations were discontinued during the second quarter. The restructuring program was driven by the Company's need to balance manufacturing capacity with demand. Approximately 50 employees were terminated under this plan, and the estimated severance payments were recorded in the first quarter of 2015. We recorded charges of $11.4 million related to this restructuring, including $3.3 million related to the write down of the land and former manufacturing facility to the estimated fair market value. Cost savings associated with this action will reduce Cost of goods sold in future periods. In the fourth quarter of 2015, the Company implemented an early retirement program for certain employees in the United States. Restructuring charges associated with this restructuring program were $8.1 million. Cost savings from this initiative are expected to be $5 million to $6 million and will reduce STG&R expenses, most of which will be recognized in 2016. 2015 restructuring charges also includes $4.3 million related to the reduction in STG&R employment in Machine Clothing and Corporate. Machine Clothing restructuring costs in 2014 and 2013 were principally related to restructuring of manufacturing operations in France, where employment was reduced by approximately 200 positions. Albany Engineered Composites restructuring expenses in 2014 and 2013 were principally related to organizational changes and exiting certain aerospace programs. The following table summarizes charges reported in the Consolidated Statements of Income under “Restructuring and other, net”:
Year ended December 31, 2015 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(in thousands) |  |  | Total restructuring costs incurred |  |  |  | Termination and other costs |  |  |  | Impairment of plant and equipment |  |  |  | Benefit plan curtailment/ settlement |
Machine Clothing |  |  | $22,211 |  |  |  | $18,906 |  |  |  | $3,305 |  |  |  | $- |
Albany Engineered Composites |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Corporate expenses |  |  | 1,635 |  |  |  | 1,635 |  |  |  | - |  |  |  | - |
Total |  |  | $23,846 |  |  |  | $20,541 |  |  |  | $3,305 |  |  |  | $- |
Year ended December 31, 2014 |  |  | Total restructuring costs |  |  |  |  |  |  |  | Impairment of plant and |  |  |  | Benefit plan curtailment/ |
(in thousands) |  |  | incurred |  |  |  | Termination and other costs |  |  |  | equipment |  |  |  | settlement |
Machine Clothing |  |  | $4,828 |  |  |  | $5,769 |  |  |  | $- |  |  |  | ($941 | )
Albany Engineered Composites |  |  | 931 |  |  |  | 319 |  |  |  | 612 |  |  |  | - |
Corporate expenses |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Total |  |  | $5,759 |  |  |  | $6,088 |  |  |  | $612 |  |  |  | ($941 | )
Year ended December 31, 2013 |  |  | Total restructuring costs |  |  |  |  |  |  |  | Impairment of plant and |  |  |  | Benefit plan curtailment/ |
(in thousands) |  |  | incurred |  |  |  | Termination and other costs |  |  |  | equipment |  |  |  | settlement |
Machine Clothing |  |  | $24,568 |  |  |  | $25,838 |  |  |  | $- |  |  |  | ($1,270 | )
Albany Engineered Composites |  |  | 540 |  |  |  | 452 |  |  |  | 88 |  |  |  | - |
Corporate expenses |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Total |  |  | $25,108 |  |  |  | $26,290 |  |  |  | $88 |  |  |  | ($1,270 | )
We expect that approximately $6.9 million of Accrued liabilities for restructuring at December 31, 2015 will be paid within one year and approximately $3.3 million will be paid in 2017. The table below presents the changes in restructuring liabilities for 2015 and 2014, all of which related to termination costs:
|  | December 31, |  |  | Restructuring |  |  |  |  |  | Currency |  |  | December 31, |
(in thousands) |  | 2014 |  |  | charges accrued |  |  | Payments |  |  | translation/other |  |  | 2015 |
Total Termination costs |  | $ | 1,874 |  |  | $ | 20,541 |  |  | $ | (12,323 | ) |  | $ | 85 |  |  | $ | 10,177 |
|  | December 31, |  |  | Restructuring |  |  |  |  |  | Currency |  |  | December 31, |
(in thousands) |  | 2013 |  |  | charges accrued |  |  | Payments |  |  | translation/other |  |  | 2014 |
Total Termination costs |  | $ | 9,656 |  |  | $ | 6,088 |  |  | $ | (13,240 | ) |  | $ | (630 | ) |  | $ | 1,874 |

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- 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
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