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Restructuring | 9 Months Ended
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Sep. 30, 2017
Restructuring and Related Activities [Abstract] |
Restructuring | 5. Restructuring Machine Clothing restructuring costs for the first nine months of 2017 were principally related to additional costs for restructuring actions taken in 2016. Machine Clothing restructuring costs in 2016 were principally related to plant closure costs in Göppingen, Germany and the cessation of research and development activities at the production facility in Sélestat, France. In October 2017, the Company announced the initiation of discussions with the local works council regarding a proposal to discontinue operations at its Machine Clothing production facility in Sélestat, France. The consultations are subject to applicable law and are ongoing. At this time, the Company has not recorded any restructuring charge related to this proposal. AEC incurred restructuring charges of $9.2 million in the first nine months of 2017. In the third quarter of 2017, the Company decided to discontinue the Bear Claw® line of hydraulic fracturing components used in the oil and gas industry, which led to non-cash restructuring charges totaling $4.5 million relating to the impairment of long-lived assets. Other restructuring charges in 2017 principally related to work force reductions in Salt Lake City, Utah and Rochester, New Hampshire. AEC restructuring expenses in 2016 were principally related to the consolidation of legacy programs into Boerne, Texas. The following table summarizes charges reported in the Consolidated Statements of Income under “Restructuring expenses, net”:
| Three months ended September 30, | Nine months ended September 30,
(in thousands) | 2017 | 2016 | 2017 | 2016
Machine Clothing | $96 |  | ($212 | ) | $1,012 |  | $5,921 |
Albany Engineered Composites | 5,407 |  | 640 |  | 9,208 |  | 1,787 |
Corporate Expenses | - |  | (102 | ) | - |  | (55 | )
Total | $5,503 |  | $326 |  | $10,220 |  | $7,653 |
Nine months ended September 30, 2017 | Total restructuring costs incurred | Termination and other costs | Impairment of plant and equipment | Impairment of intangible asset
(in thousands) |  |  |  |
Machine Clothing | $1,012 |  | $1,012 |  | $- |  | $- |
Albany Engineered Composites | 9,208 |  | 4,173 |  | 886 |  | 4,149 |
Corporate Expenses | - |  | - |  | - |  | - |
Total | $10,220 |  | $5,185 |  | $886 |  | $4,149 |
Nine months ended September 30, 2016 | Total restructuring costs incurred | Termination and other costs | Impairment of plant and equipment | Benefit plan curtailment/ settlement
(in thousands) |  |  |  |
Machine Clothing | $5,921 |  | $5,751 |  | $300 |  | ($130 | )
Albany Engineered Composites | 1,787 |  | 1,498 |  | 289 |  | - |
Corporate Expenses | (55 | ) | (55 | ) | - |  | - |
Total | $7,653 |  | $7,194 |  | $589 |  | ($130 | )
We expect that approximately $4.0 million of Accrued liabilities for restructuring at September 30, 2017 will be paid within one year and approximately $0.4 million will be paid in the following year. The table below presents the year-to-date changes in restructuring liabilities for 2017 and 2016, all of which related to termination costs:
| December 31, | Restructuring |  | Currency | September 30,
(in thousands) | 2016 | charges accrued | Payments | translation /other | 2017
Total termination and other costs | $5,559 | $5,185 | ($6,370) | $24 | $4,398
| December 31, | Restructuring |  | Currency | September 30,
(in thousands) | 2015 | charges accrued | Payments | translation /other | 2016
Total termination and other costs | $10,177 | $7,194 | ($9,862) | $2 | $7,511

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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 -URI http://asc.fasb.org/topic&trid=2175745 + Details
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