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Restructuring | 12 Months Ended
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Dec. 31, 2016
Restructuring and Related Activities [Abstract] |
Restructuring | 5. Restructuring In 2016, the Company announced a plan to discontinue research and development activities at its Machine Clothing production facility in Sélestat, France. We subsequently reached agreement with the Works Council on the restructuring plan and we recorded $2.2 million of restructuring expense in 2016 for severance, outplacement, and the write-off of equipment. Cost savings associated with this action reduced 2016 research and development expenses. AEC restructuring expenses in 2016 were principally related to the consolidation of legacy programs into Boerne, Texas. 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. In 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 estimated fair market value, and the property was sold in 2016 at that value. In 2016, we recorded additional restructuring charges of $2.6 million, principally related to the final closure of the plant in Germany. 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. 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 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 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, 2016 |  | Total restructuring costs incurred |  | Termination and other costs |  | Impairment of plant and equipment |  | Benefit plan curtailment/ settlement
(in thousands) |  |  |  |  |  |  |  |  |  |  |  |
Machine Clothing |  | $6,069 |  |  | $5,756 |  |  | $425 |  |  | ($112 | )
Albany Engineered Composites |  | 2,314 |  |  | 1,502 |  |  | 812 |  |  |  |
Corporate expenses |  | (7 | ) |  | (7 | ) |  |  |  |  |  |
Total |  | $8,376 |  |  | $7,251 |  |  | $1,237 |  |  | ($112 | )
Year ended December 31, 2015 |  | Total restructuring costs incurred |  | Termination and other costs |  | Impairment of plant and equipment |  | Benefit plan curtailment/ settlement
(in thousands) |  |  |  |  |  |  |  |  |  |  |  |
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 incurred |  | Termination and other costs |  | Impairment of plant and equipment |  | Benefit plan curtailment/ settlement
(in thousands) |  |  |  |  |  |  |  |  |  |  |  |
Machine Clothing |  | $4,828 |  |  | $5,769 |  |  | $- |  |  | ($941 | )
Albany Engineered Composites |  | 931 |  |  | 319 |  |  | 612 |  |  | - |
Corporate expenses |  | - |  |  | - |  |  | - |  |  | - |
Total |  | $5,759 |  |  | $6,088 |  |  | $612 |  |  | ($941 | )
We expect that approximately $4.7 million of Accrued liabilities for restructuring at December 31, 2016 will be paid within one year and approximately $0.9 million will be paid the following year. The table below presents the changes in restructuring liabilities for 2016 and 2015, all of which related to termination costs:
|  | December 31, |  | Restructuring |  |  |  | Currency |  | December 31,
(in thousands) |  | 2015 |  | charges accrued |  | Payments |  | translation/other |  | 2016
Total termination and other costs |  | $10,177 |  |  | $7,251 |  |  | ($11,800 | ) |  | ($69 | ) |  | $5,559 |
|  | December 31, |  | Restructuring |  |  |  | Currency |  | December 31,
(in thousands) |  | 2014 |  | charges accrued |  | Payments |  | translation/other |  | 2015
Total termination and other costs |  | $1,874 |  |  | $20,541 |  |  | ($12,323 | ) |  | $85 |  |  | $10,177 |

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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 + Details
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