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Restructuring | 6 Months Ended
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Jun. 30, 2021
Restructuring And Related Activities [Abstract] |
Restructuring |
5. | RESTRUCTURING
In the first quarter of 2020, we announced restructuring actions within the Composite Fibers operating segment. The actions primarily consisted of the consolidation of our metallizing operation from Gernsbach, Germany to our Caerphilly, U.K. site.
|  | Three months ended June 30 |  |  |  | Six months ended June 30 |  |
In thousands |  | 2020 |  |  |  | 2020 |  |
Severance and benefit continuation |  | $ | 2,689 |  |  |  | $ | 6,143 |  |
Accelerated depreciation |  |  | 1,352 |  |  |  |  | 3,885 |  |
Inventory and spare parts |  |  | 935 |  |  |  |  | 935 |  |
Other |  |  | 91 |  |  |  |  | 91 |  |
Total |  | $ | 5,067 |  |  |  | $ | 11,054 |  |
The restructuring charge is recorded under the caption “Costs of product sold” in the accompanying condensed consolidated statements of income for the three months and six months ended June 30, 2020. The amounts accrued for severance and benefit continuation are recorded as other current liabilities in the accompanying condensed consolidated balance sheet as of June 30, 2021 and December 31, 2020. The accrued and unpaid restructuring charge totaled approximately $0.2 million and $1.0 million as of June 30, 2021 and December 31, 2020, respectively. With the exception of the severance and benefit continuation amounts, substantially all other amounts accrued represent accelerated non-cash asset write-downs.

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -URI http://asc.fasb.org/topic&trid=2175745 + Details
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