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v3.23.3

SEGMENT INFORMATION | 9 Months Ended
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Sep. 30, 2023
Segment Reporting [Abstract] |
SEGMENT INFORMATION | SEGMENT INFORMATION The following tables set forth financial and other information by segment for the period indicated:
| Three months ended September 30, |  | Nine months ended September 30,
Dollars in thousands | 2023 |  | 2022 |  | 2023 |  | 2022
Net Sales |  |  |  |  |  |  |
Airlaid Material | $ | 147,014 |  |  | $ | 154,351 |  |  | $ | 458,966 |  |  | $ | 447,523 |
Composite Fibers | 109,715 |  |  | 128,269 |  |  | 368,031 |  |  | 387,436 |
Spunlace | 73,791 |  |  | 89,160 |  |  | 239,934 |  |  | 282,464 |
Inter-segment sales elimination | (599) |  |  | — |  |  | (1,797) |  |  | — |
Total | $ | 329,921 |  |  | $ | 371,780 |  |  | $ | 1,065,134 |  |  | $ | 1,117,423 |
Operating income (loss) |  |  |  |  |  |  |
Airlaid Material | $ | 11,196 |  |  | $ | 16,553 |  |  | $ | 34,836 |  |  | $ | 40,718 |
Composite Fibers | 7,268 |  |  | 6,636 |  |  | 14,293 |  |  | 12,080 |
Spunlace | (1,053) |  |  | (4,671) |  |  | (4,390) |  |  | (8,051) |
Other and unallocated | (14,758) |  |  | (52,585) |  |  | (46,458) |  |  | (185,779) |
Total | $ | 2,653 |  |  | $ | (34,067) |  |  | $ | (1,719) |  |  | $ | (141,032) |
Depreciation and amortization |  |  |  |  |  |  |
Airlaid Material | $ | 7,553 |  |  | $ | 7,400 |  |  | $ | 22,876 |  |  | $ | 22,571 |
Composite Fibers | 3,898 |  |  | 3,961 |  |  | 11,760 |  |  | 15,276 |
Spunlace | 3,289 |  |  | 2,954 |  |  | 9,857 |  |  | 8,813 |
Other and unallocated | 953 |  |  | 1,231 |  |  | 2,901 |  |  | 3,822 |
Total | $ | 15,693 |  |  | $ | 15,546 |  |  | $ | 47,394 |  |  | $ | 50,482 |
Capital expenditures |  |  |  |  |  |  |
Airlaid Material | $ | 2,625 |  |  | $ | 1,925 |  |  | $ | 7,039 |  |  | $ | 7,457 |
Composite Fibers | 2,579 |  |  | 2,462 |  |  | 8,352 |  |  | 12,720 |
Spunlace | 2,271 |  |  | 1,341 |  |  | 7,481 |  |  | 5,227 |
Other and unallocated | 296 |  |  | 1,659 |  |  | 2,357 |  |  | 4,680 |
Total | $ | 7,771 |  |  | $ | 7,387 |  |  | $ | 25,229 |  |  | $ | 30,084 |
Tons shipped (metric) |  |  |  |  |  |  |
Airlaid Material | 40,076 |  |  | 41,925 |  |  | 119,149 |  |  | 125,658 |
Composite Fibers | 22,188 |  |  | 24,958 |  |  | 71,972 |  |  | 77,415 |
Spunlace | 14,436 |  |  | 17,674 |  |  | 46,047 |  |  | 57,768 |
Inter-segment sales elimination | (328) |  |  | — |  |  | (925) |  |  | — |
Total | 76,372 |  |  | 84,557 |  |  | 236,243 |  |  | 260,841 |
Segments 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 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 segment are allocated primarily based on an estimated utilization of support area services or are included in “Other and Unallocated” in the table set forth above. Management evaluates results of operations of the operating segments before 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 the 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 segments 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.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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