XML 52 R35.htm IDEA: XBRL DOCUMENT v3.22.4
Segment and Geographic Information
12 Months Ended
Dec. 31, 2022
Segment Reporting [Abstract]  
Segment and Geographic Information
25.    SEGMENT AND GEOGRAPHIC INFORMATION
The following table sets forth net sales, profitability and other information by segment:
Year ended December 31,
In thousands, except per share202220212020
Net Sales
Airlaid Material$601,514 $470,250 $391,409 
Composite Fibers523,863 556,807 525,089 
Spunlace365,949 57,637 — 
Total$1,491,326 $1,084,694 $916,498 
Operating income (loss)
Airlaid Material$54,809 $42,244 $46,304 
Composite Fibers16,923 37,422 52,094 
Spunlace(9,289)(1,338)— 
Other and unallocated(226,394)(49,714)(49,242)
Total$(163,951)$28,614 $49,156 
Depreciation and amortization
Airlaid Material$30,114 $28,101 $22,416 
Composite Fibers19,632 27,690 26,175 
Spunlace11,850 1,693 — 
Other and unallocated5,128 3,937 8,009 
Total$66,724 $61,421 $56,600 
Capital expenditures
Airlaid Material$9,691 $8,431 $9,311 
Composite Fibers15,730 11,912 13,262 
Spunlace6,689 3,810 — 
Other and unallocated5,630 5,884 5,563 
Total$37,740 $30,037 $28,136 
Tons shipped (metric)
Airlaid Material164,844 148,134 136,661 
Composite Fibers103,092 132,196 134,758 
Spunlace72,725 12,514 — 
Total340,661 292,844 271,419 
Plant, equipment and timberlands, net
Airlaid Material$347,142 $371,324 $295,806 
Composite Fibers145,959 202,445 225,444 
Spunlace159,648 161,478 — 
Other and unallocated23,062 23,565 22,017 
Total$675,811 $758,812 $543,267 

Results of individual operating segments are presented based on our management accounting practices and management structure. There is no comprehensive, authoritative body of guidance for management accounting equivalent to accounting principles generally accepted in the United States of America; therefore, the financial results of individual segments are not necessarily comparable with similar information for any other company. The management accounting process uses assumptions and allocations to measure performance of the operating segments. Methodologies are refined from time to time as management accounting practices are enhanced and businesses change. The costs incurred by support
areas not directly aligned with the operating segments are allocated primarily based on an estimated utilization of support area services.
Management evaluates results of operations of the operating segments before pension expense, certain corporate level costs, and the effects of certain gains or losses not considered to be related to the core business operations. Management believes that this is a more meaningful representation of the operating performance of its core businesses, the profitability of segments and the extent of cash flow generated from these core operations. Such amounts are presented under the caption “Other and Unallocated.” In the evaluation of operating segment results, management does not use any measures of total assets. This presentation is aligned with the management and operating structure of our company. It is also on this basis that the Company’s performance is evaluated internally and by the Company’s Board of Directors.
Our Airlaid Materials segment is a leading global supplier of highly absorbent cellulose-based airlaid nonwoven materials used in the following categories:
Feminine hygiene and other hygiene applications;
Specialty wipes;
Tabletop;
Adult incontinence;
Home care;
Food pads; and
Other consumer and industrial products.
The Composite Fibers segment serves customers globally and focuses on higher value-added products in the following categories:
Food & beverage;
Technical specialties;
Wallcovering;
Composite laminates; and
Metallized products.
The Spunlace segment is a global leading specialist manufacturer of premium quality spunlace nonwovens for critical cleaning, high-performance materials, personal care, hygiene and medical applications. The categories served by Spunlace include:
Consumer wipes;
Critical cleaning;
Health care;
Hygiene;
High performance; and
Beauty care.
Disaggregated net sales by categories and geographic region for the segments is presented in Item 8 Financial Statements and Supplementary Data, Note 8 – “Revenue.”
In 2022, 2021 and 2020, approximately 15%, 16% and 16%, respectively, of our consolidated net sales were from sales to Procter & Gamble Company, a customer in the Airlaid Materials and Spunlace segments.
Our net sales to external customers and location of net plant, equipment and timberlands are summarized below. Net sales are attributed to countries based upon origin of shipment.
 2022 2021 2020
In thousandsNet sales 
Plant,
Equipment and
Timberlands – Net
 Net sales 
Plant,
Equipment and
Timberlands – Net
 Net sales 
Plant,
Equipment and
Timberlands – Net
United States$508,679 $317,191 $255,086 $326,668 $166,131 $103,570 
Germany537,363 194,586 513,043 251,375 489,655 286,591 
United Kingdom74,487 43,015 82,144 50,420 73,604 50,140 
Canada146,393 61,516 120,808 65,291 112,128 68,975 
Other224,404 59,503 113,613 65,057 74,980 33,991 
Total$1,491,326 $675,811 $1,084,694 $758,812 $916,498 $543,267