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Restructuring (Tables) | 9 Months Ended
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Sep. 30, 2017
Restructuring and Related Activities [Abstract] |
Schedule of Restructuring Charges | 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 | )
Schedule of Restructuring Liability | 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 Tabular disclosure of costs incurred for restructuring including, but not limited to, exit and disposal activities, remediation, implementation, integration, asset impairment, and charges against earnings from the write-down of assets. + References Reference 1: 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 2: 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 3: 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 + Details
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- Definition Tabular disclosure of an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost. This element may also include a description of any reversal and other adjustment made during the period to the amount of an accrued liability for restructuring activities. This element may be used to encapsulate the roll forward presentations of an entity's restructuring reserve by type of cost and in total, and explanation of changes that occurred in the period. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b)(2) -URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 Reference 2: 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(b)(2)) -URI http://asc.fasb.org/extlink&oid=27011515&loc=d3e140904-122747 + Details
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