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Restructuring | 12 Months Ended
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Dec. 31, 2017
Restructuring and Related Activities [Abstract] |
Restructuring | 5. Restructuring In 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. During 2017, we incurred $1.1 million of restructuring expense associated with this proposal. In February 2018, we completed negotiations with the Works Council regarding benefits that would be provided to affected employees, and submitted the proposed plan to the government labor authorities for approval. While there can be no assurance that such approval will be obtained, we consider it probable that such approval will be obtained in the first quarter of 2018. We are presently unable to reasonably estimate the total costs for severance and other charges associated with the proposal. AEC restructuring charges in 2017 included the discontinuation of 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. We also incurred restructuring charges of $5.0 million in 2017 related to completed work force reductions in Salt Lake City, Utah and Rochester, New Hampshire. Cost savings associated with these actions will result, principally, in lower cost of goods sold in 2018. In 2016, the Company discontinued research and development activities at its Machine Clothing facility in Sélestat, France as part of a plan to reduce research and development costs. This initiative resulted in 2016 expense of $2.2 million for severance, outplacement, and the write-off of equipment. In 2017, we recorded additional restructuring charges of $1.6 million, principally related to additional termination benefits paid to former employees. 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 which led to total restructuring charges of $14.8 million from 2015 to 2017. 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 and 2017, we recorded additional restructuring charges of $2.6 million and $0.8 million, respectively, principally related to the final closure of the plant in Germany. AEC restructuring expenses in 2016 were principally related to the consolidation of legacy programs into Boerne, Texas. 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 include $4.3 million related to the reduction in selling, general and administrative employment in Machine Clothing and Corporate. The following table summarizes charges reported in the Consolidated Statements of Income under “Restructuring expenses, net”:
| Total restructuring costs incurred |  | Termination and other costs |  | Impairment of assets | Benefit plan curtailment/ settlement |
Year ended December 31, 2017 (in thousands)
Machine Clothing | $3,429 |  | $2,945 |  | $484 | $- |
Albany Engineered Composites | 10,062 |  | 5,004 |  | 5,058 | - |
Corporate expenses | - |  | - |  | - | - |
Total | $13,491 |  | $7,949 |  | $5,542 | $- |
| Total restructuring costs incurred |  | Termination and other costs |  | Impairment of assets | Benefit plan curtailment/ settlement |
Year ended December 31, 2016 (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 assets | 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 | $-
We expect that approximately $2.7 million of Accrued liabilities for restructuring at December 31, 2017 will be paid within one year and approximately $0.6 million will be paid the following year. The table below presents the changes in restructuring liabilities for 2017 and 2016, all of which related to termination costs:
| December 31, | Restructuring |  | Currency | December 31,
(in thousands) | 2016 | charges accrued | Payments | translation/other | 2017
Total termination and other costs | $5,559 | $7,949 | ($10,351) | $169 | $3,326
| 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

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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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