10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q

x Quarterly Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

For the quarterly period ended June 30, 2014

or

¨ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

For the transition period from              to             

96 South George Street, Suite 520

York, Pennsylvania 17401

(Address of principal executive offices)

(717) 225-4711

(Registrant’s telephone number, including area code)

Commission file number	Exact name of registrant as specified in its charter	IRS Employer Identification No.	State or other jurisdiction of incorporation or organization
1-03560	P. H. Glatfelter Company	23-0628360	Pennsylvania

N/A

(Former name or former address, if changed since last report)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for at the past 90 days.     Yes  x    No  ¨.

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).     Yes  x    No  ¨.

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a small reporting company. See the definitions of “large accelerated filer”, “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer	x	Accelerated filer	¨
Non-accelerated filer	¨  (Do not check if a smaller reporting company).	Small reporting company	¨

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act)     Yes  ¨    No  x.

Common Stock outstanding on July 30, 2014 totaled 42,904,447 shares.

P. H. GLATFELTER COMPANY AND

SUBSIDIARIES

REPORT ON FORM 10-Q

For the QUARTERLY PERIOD ENDED

June 30, 2014

Table of Contents

		Page
PART I – FINANCIAL INFORMATION
Item 1	Financial Statements
	Condensed Consolidated Statements of Income for the three months and six months ended June 30, 2014 and 2013 (unaudited)		2
	Condensed Consolidated Statements of Comprehensive Income for the three months and six months ended June 30, 2014 and 2013 (unaudited)		3
	Condensed Consolidated Balance Sheets as of June 30, 2014 and December 31, 2013 (unaudited)		4
	Condensed Consolidated Statements of Cash Flows for the six months ended June 30, 2014 and 2013 (unaudited)		5
	Notes to Condensed Consolidated Financial Statements (unaudited)		6
Item 2	Management’s Discussion and Analysis of Financial Condition and Results of Operations		28
Item 3	Quantitative and Qualitative Disclosures About Market Risks		39
Item 4	Controls and Procedures		39
PART II – OTHER INFORMATION
Item 6	Exhibits		40
SIGNATURES			40

PART I

Item 1 – Financial Statements

P. H. GLATFELTER COMPANY AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(unaudited)

	Three months ended June 30						Six months ended June 30
In thousands, except per share	2014			2013			2014			2013
Net sales	$	445,341		$	425,967		$	901,062		$	831,156
Energy and related sales, net		790			424			6,052			1,525
Total revenues		446,131			426,391			907,114			832,681
Costs of products sold		404,694			385,551			810,637			734,466
Gross profit		41,437			40,840			96,477			98,215
Selling, general and administrative expenses		32,314			34,528			65,865			68,015
Gains on dispositions of plant, equipment and timberlands, net		(1,482	)		(19	)		(2,291	)		(92	)
Operating income		10,605			6,331			32,903			30,292
Non-operating income (expense)
Interest expense		(4,762	)		(4,514	)		(9,574	)		(8,355	)
Interest income		52			46			113			148
Other, net		61			175			272			422
Total non-operating expense		(4,649	)		(4,293	)		(9,189	)		(7,785	)
Income before income taxes		5,956			2,038			23,714			22,507
Income tax provision		1,287			1,105			4,397			5,945
Net income	$	4,669		$	933		$	19,317		$	16,562
Earnings per share
Basic	$	0.11		$	0.02		$	0.45		$	0.38
Diluted		0.11			0.02			0.44			0.38
Cash dividends declared per common share	$	0.11		$	0.10		$	0.22		$	0.20
Weighted average shares outstanding
Basic		43,287			43,134			43,327			43,050
Diluted		44,136			44,202			44,251			44,119

The accompanying notes are an integral part of these condensed consolidated financial statements.

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GLATFELTER

6.30.14 Form 10-Q

P. H. GLATFELTER COMPANY AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(unaudited)

	Three months ended June 30						Six months ended June 30
In thousands	2014			2013			2014		2013
Net income	$	4,669		$	933		$	19,317	$	16,562
Foreign currency translation adjustments		(533	)		3,727			195		(8,230	)
Net change in:
Deferred gains (losses) on cash flow hedges, net of taxes of $(408), $136, $(381) and $(34), respectively		1,080			(395	)		1,001		46
Unrecognized retirement obligations, net of taxes of $(1,513), $(2,263), $(2,928) and $(4,576), respectively		2,479			3,773			4,795		7,600
Other comprehensive income (loss)		3,026			7,105			5,991		(584	)
Comprehensive income	$	7,695		$	8,038		$	25,308	$	15,978

The accompanying notes are an integral part of these condensed consolidated financial statements.

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GLATFELTER

6.30.14 Form 10-Q

P. H. GLATFELTER COMPANY AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(unaudited)

	June 30			December 31
In thousands	2014			2013
Assets
Cash and cash equivalents	$	28,016		$	122,882
Accounts receivable, net		191,124			167,830
Inventories		257,832			236,310
Prepaid expenses and other current assets		64,773			59,560
Total current assets		541,745			586,582
Plant, equipment and timberlands, net		719,819			723,340
Goodwill		94,826			95,948
Intangible assets		92,230			96,081
Other assets		181,487			176,459
Total assets	$	1,630,107		$	1,678,410
Liabilities and Shareholders’ Equity
Current portion of long-term debt	$	1,821		$	—
Accounts payable		142,348			161,242
Dividends payable		4,767			4,363
Environmental liabilities		125			125
Other current liabilities		114,746			122,637
Total current liabilities		263,807			288,367
Long-term debt		413,617			442,325
Deferred income taxes		140,005			141,020
Other long-term liabilities		120,095			122,222
Total liabilities		937,524			993,934
Commitments and contingencies		—			—
Shareholders’ equity
Common stock		544			544
Capital in excess of par value		52,401			53,940
Retained earnings		879,113			869,329
Accumulated other comprehensive loss		(69,366	)		(75,357	)
		862,692			848,456
Less cost of common stock in treasury		(170,109	)		(163,980	)
Total shareholders’ equity		692,583			684,476
Total liabilities and shareholders’ equity	$	1,630,107		$	1,678,410

The accompanying notes are an integral part of these condensed consolidated financial statements.

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GLATFELTER

6.30.14 Form 10-Q

P. H. GLATFELTER COMPANY AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(unaudited)

	Six months ended June 30
In thousands	2014			2013
Operating activities
Net income	$	19,317		$	16,562
Adjustments to reconcile to net cash provided by operations:
Depreciation, depletion and amortization		36,893			32,024
Amortization of debt issue costs and original issue discount		656			649
Pension expense, net of unfunded benefits paid		3,330			6,433
Deferred income tax benefit		(2,724	)		(971	)
Gains on dispositions of plant, equipment and timberlands, net		(2,291	)		(92	)
Share-based compensation		3,617			3,587
Change in operating assets and liabilities
Accounts receivable		(23,805	)		(20,008	)
Inventories		(21,783	)		2,071
Prepaid and other current assets		(6,937	)		4,069
Accounts payable		(16,870	)		7,357
Accruals and other current liabilities		(11,147	)		(6,477	)
Other		378			3,023
Net cash (used) provided by operating activities		(21,366	)		48,227
Investing activities
Expenditures for purchases of plant, equipment and timberlands		(30,156	)		(60,823	)
Proceeds from disposals of plant, equipment and timberlands, net		2,360			92
Acquisition, net of cash acquired		—			(210,911	)
Other		(100	)		(225	)
Net cash used by investing activities		(27,896	)		(271,867	)
Financing activities
Net borrowings under (repayments of) revolving credit facility		(25,425	)		126,139
Payments of borrowing costs		—			(419	)
Proceeds from term loan		—			56,091
Repurchases of common stock		(9,158	)		—
Payments of dividends		(9,164	)		(8,245	)
Payments related to share-based compensation awards and other		(1,816	)		(2,332	)
Net cash (used) provided by financing activities		(45,563	)		171,234
Effect of exchange rate changes on cash		(41	)		(518	)
Net decrease in cash and cash equivalents		(94,866	)		(52,924	)
Cash and cash equivalents at the beginning of period		122,882			97,679
Cash and cash equivalents at the end of period	$	28,016		$	44,755
Supplemental cash flow information
Cash paid for:
Interest, net of amounts capitalized	$	9,011		$	7,836
Income taxes, net		16,323			5,466

The accompanying notes are an integral part of these condensed consolidated financial statements.

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GLATFELTER

6.30.14 Form 10-Q

P. H. GLATFELTER COMPANY AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(unaudited)

1. ORGANIZATION

P. H. Glatfelter Company and subsidiaries (“Glatfelter”) is a manufacturer of specialty papers and fiber-based engineered materials. Headquartered in York, Pennsylvania, our manufacturing facilities are located in Spring Grove, Pennsylvania; Chillicothe and Freemont, Ohio; Gatineau, Quebec, Canada; Lydney, England; Caerphilly, Wales; Gernsbach, Falkenhagen and Heidenau, Germany; Scaër, France; and the Philippines. Our products are marketed worldwide, either through wholesale paper merchants, brokers and agents, or directly to customers.

2. ACCOUNTING POLICIES

Basis of Presentation The unaudited condensed consolidated financial statements (“financial statements”) include the accounts of Glatfelter and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated.

We prepared these financial statements in accordance with accounting principles generally accepted in the United States of America (“generally accepted accounting principles” or “GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission pertaining to interim financial statements. In our opinion, the financial statements reflect all normal, recurring adjustments needed to present fairly our results for the interim periods. When preparing these financial statements, we have assumed that you have read the audited consolidated financial statements included in our 2013 Annual Report on Form 10-K.

Accounting Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingencies as of the balance sheet date and the reported amounts of revenues and expenses during the reporting period. Management believes the estimates and assumptions used in the preparation of these financial statements are reasonable, based upon currently available facts and known circumstances, but recognizes that actual results may differ from those estimates and assumptions.

Recently Issued Accounting Pronouncements In May 2014, the Financial Accounting Standards Board issued Accounting Standards Update No. 2014-09 - Revenue from Contracts with Customers which clarifies the principles for recognizing revenue and develops a common revenue standard for GAAP and International Financial Reporting Standards. The new standard is required to be adopted for fiscal years beginning after December 15, 2016 and early adoption is not permitted. We are in the process of evaluating the impact this standard may have, if any, on our reported results of operations or financial position.

3. ACQUISITION

On April 30, 2013, we completed the acquisition of all outstanding shares of Dresden Papier GmbH (“Dresden”) from Fortress Paper Ltd. for $211 million, net of cash acquired. Dresden, based in Heidenau, Germany, is the leading global supplier of nonwoven wallpaper base materials, and is a major supplier to most of the world’s largest wallpaper manufacturers. Dresden’s revenue for the full year 2013 was $158.6 million and it employed approximately 146 people at its state-of-the-art, 72,800 short-ton-capacity manufacturing facility. We financed the acquisition through a combination of cash on hand and borrowings under our Revolving Credit Facility.

The acquisition of Dresden added another industry-leading nonwovens product line to our Composite Fibers business, and broadens our relationship with leading producers of consumer and industrial products. The Dresden acquisition also provided additional operational leverage and growth opportunities for Glatfelter globally, particularly in large markets such as Russia and China, and other developing markets in Eastern Europe and Asia.

Dresden now operates as part of our Composite Fibers business unit which manufactures fiber-based products for growing global niche markets including filtration papers for tea and single serve coffee applications, metallized papers, and technical specialties.

The share purchase agreement provides for, among other terms, indemnification provisions for claims that may arise, including among others, uncertain tax positions and other third party claims. The allocation of the purchase price to assets acquired and liabilities assumed is as follows:

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GLATFELTER

6.30.14 Form 10-Q

In thousands	As originally presented			Cumulative adjustments			Adjusted
Assets
Cash and cash equivalents	$	12,227		$	—		$	12,227
Accounts receivable		23,870			—			23,870
Inventory		13,864			—			13,864
Prepaid and other current assets		6,674			1,386			8,060
Plant, equipment and timberlands		60,951			—			60,951
Intangible assets		87,596			—			87,596
Goodwill		76,256			(1,386	)		74,870
Total assets		281,438			—			281,438
Liabilities
Accounts payable		20,360			(107	)		20,253
Deferred tax liabilities		36,120			—			36,120
Other long term liabilities		1,820			107			1,927
Total liabilities		58,300			—			58,300
Total		223,138			—			223,138
less cash acquired		(12,227	)		—			(12,227	)
Total purchase price	$	210,911		$	—		$	210,911

The adjustments set forth above primarily relate to the recognition of additional indemnification receivable from the seller associated with certain tax matters. Such adjustments were recorded in the third quarter of 2013 and did not impact previously reported results of operations, earnings per share, or cash flows.

For purposes of allocating the total purchase price, assets acquired and liabilities assumed are recorded at their estimated fair market value. The allocation set forth above is based on management’s estimate of the fair value using valuation techniques such as discounted cash flow models, appraisals and similar methodologies. The amount allocated to intangible assets represents the estimated value of customer relationships, technological know-how and trade name.

Acquired property, plant and equipment are being depreciated on a straight-line basis with estimated remaining lives ranging from 5 years to 30 years. Intangible assets are being amortized on a straight-line basis over an average estimated remaining life of 17 years reflecting the expected future value.

In connection with the Dresden acquisition we recorded $74.9 million of goodwill and $87.6 million of intangible assets. The goodwill arising from the acquisition largely relates to strategic benefits, product and market diversification, assembled workforce, and similar factors. For tax purposes, none of the goodwill is deductible. Intangible assets consist of $9.8 million of non-amortizing tradename, and the remainder consists of technology and customer relationships.

Our results of operations include the results of Dresden prospectively since the acquisition was completed on April 30, 2013. All such results reported herein are included as part of the Composite Fibers business unit. Revenue of Dresden included in our consolidated results of operations for the second quarter and first six months of 2014 totaled $38.3 million and $79.6 million, respectively, and operating income for the same periods of 2014 totaled $8.2 million and $17.1 million, respectively.

The table below summarizes pro forma financial information as if the acquisition and related financing transaction occurred as of January 1, 2013:

In thousands, except per share	Three months ended June  30 2013		Six months ended June 30 2013
Pro forma
Net sales	$	441,204	$	887,975
Net income		6,643		29,436
Diluted earnings per share		0.15		0.67

This unaudited pro forma financial information above is not necessarily indicative of what the operating results would have been had the acquisition been completed at the beginning of the respective period nor is it indicative of future results.

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GLATFELTER

6.30.14 Form 10-Q

4. GAINS ON DISPOSITIONS OF PLANT, EQUIPMENT AND TIMBERLANDS, NET

During the first six months of 2014 and 2013, we completed sales of assets as summarized in the following table:

Dollars in thousands	Acres		Proceeds		Gain
2014
Timberlands		935	$	2,355	$	2,290
Other		n/a		5		1
Total			$	2,360	$	2,291
2013
Other		n/a		92		92
Total			$	92	$	92

5. EARNINGS PER SHARE

The following table sets forth the details of basic and diluted earnings per share (“EPS”):

	Three months ended June 30
In thousands, except per share	2014		2013
Net income	$	4,669	$	933
Weighted average common shares outstanding used in basic EPS		43,287		43,134
Common shares issuable upon exercise of dilutive stock options and PSAs / RSUs		849		1,068
Weighted average common shares outstanding and common share equivalents used in diluted EPS		44,136		44,202
Earnings per share
Basic	$	0.11	$	0.02
Diluted		0.11		0.02

	Six months ended June 30
In thousands, except per share	2014		2013
Net income	$	19,317	$	16,562
Weighted average common shares outstanding used in basic EPS		43,327		43,050
Common shares issuable upon exercise of dilutive stock options and PSAs / RSUs		924		1,069
Weighted average common shares outstanding and common share equivalents used in diluted EPS		44,251		44,119
Earnings per share
Basic	$	0.45	$	0.38
Diluted		0.44		0.38

The following table sets forth potential common shares outstanding for stock options and restricted stock units that were not included in the computation of diluted EPS for the period indicated, because their effect would be anti-dilutive:

	June 30
	2014		2013
Three months ended		279		—
Six months ended		273		—

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GLATFELTER

6.30.14 Form 10-Q

6. ACCUMULATED OTHER COMPREHENSIVE INCOME

The following table sets forth details of the changes in accumulated other comprehensive income (losses) for the three months and six months ended June 30, 2014 and 2013.

in thousands	Currency Translation Adjustments			Unrealized gain (loss) on cash flow hedges			Change in pensions			Change in other postretirement defined benefit plans			Total
Balance at April 1, 2014	$	15,869		$	(1,020	)	$	(87,266	)	$	25		$	(72,392	)
Other comprehensive income before reclassifications (net of tax)		(533	)		618			—			—			85
Amounts reclassified from accumulated other comprehensive income (net of tax)		—			462			2,444			35			2,941
Net current period other comprehensive income (loss)		(533	)		1,080			2,444			35			3,026
Balance at June 30, 2014	$	15,336		$	60		$	(84,822	)	$	60		$	(69,366	)
Balance at April 1, 2013	$	(11,642	)	$	17		$	(155,781	)	$	(4,249	)	$	(171,655	)
Other comprehensive income before reclassifications (net of tax)		3,727			(531	)		—			—			3,196
Amounts reclassified from accumulated other comprehensive income (net of tax)		—			136			3,725			48			3,909
Net current period other comprehensive income (loss)		3,727			(395	)		3,725			48			7,105
Balance at June 30, 2013	$	(7,915	)	$	(378	)	$	(152,056	)	$	(4,201	)	$	(164,550	)
Balance at January 1, 2014	$	15,141		$	(941	)	$	(89,547	)	$	(10	)	$	(75,357	)
Other comprehensive income before reclassifications (net of tax)		195			215			—			—			410
Amounts reclassified from accumulated other comprehensive income (net of tax)		—			786			4,725			70			5,581
Net current period other comprehensive income (loss)		195			1,001			4,725			70			5,991
Balance at June 30, 2014	$	15,336		$	60		$	(84,822	)	$	60		$	(69,366	)
Balance at January 1, 2013	$	315		$	(424	)	$	(159,560	)	$	(4,297	)	$	(163,966	)
Other comprehensive income before reclassifications (net of tax)		(8,230	)		(141	)		—			—			(8,371	)
Amounts reclassified from accumulated other comprehensive income (net of tax)		—			187			7,504			96			7,787
Net current period other comprehensive income (loss)		(8,230	)		46			7,504			96			(584	)
Balance at June 30, 2013	$	(7,915	)	$	(378	)	$	(152,056	)	$	(4,201	)	$	(164,550	)

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GLATFELTER

6.30.14 Form 10-Q

Reclassifications out of accumulated other comprehensive income were as follows:

	Three months ended June 30						Six months ended June 30
In thousands	2014			2013			2014			2013
Description													Line Item in Statements of Income
Cash flow hedges (Note 14)
(Gains) losses on cash flow hedges	$	641		$	188		$	1,090		$	258		Costs of products sold
		(179	)		(52	)		(304	)		(71	)	Income tax provision
Net of tax		462			136			786			187
Retirement plan obligations (Note 9)
Amortization of deferred benefit pension plan items
Prior service costs		695			613			1,243			1,226		Costs of products sold
		226			161			412			322		Selling, general and administrative
Actuarial losses		2,233			4,025			4,429			8,139		Costs of products sold
		781			1,160			1,525			2,335		Selling, general and administrative
		3,935			5,959			7,609			12,022
		(1,491	)		(2,234	)		(2,884	)		(4,518	)	Income tax provision
Net of tax		2,444			3,725			4,725			7,504
Amortization of deferred benefit other plan items
Prior service costs		(59	)		(100	)		(118	)		(200	)	Costs of products sold
		(13	)		(25	)		(26	)		(50	)	Selling, general and administrative
Actuarial losses		106			155			212			310		Costs of products sold
		23			47			46			94		Selling, general and administrative
		57			77			114			154
		(22	)		(29	)		(44	)		(58	)	Income tax provision
Net of tax		35			48			70			96
Total reclassifications, net of tax	$	2,941		$	3,909		$	5,581		$	7,787

7. INCOME TAXES

Income taxes are recognized for the amount of taxes payable or refundable for the current year and deferred tax liabilities and assets for the future tax consequences of events that have been recognized in our consolidated financial statements or tax returns. The effects of income taxes are measured based on enacted tax laws and rates.

As of June 30, 2014 and December 31, 2013, we had $14.4 million and $14.9 million of gross unrecognized tax benefits. As of June 30, 2014, if such benefits were to be recognized, approximately $14.4 million would be recorded as a component of income tax expense, thereby affecting our effective tax rate.

We, or one of our subsidiaries, file income tax returns with the United States Internal Revenue Service, as well as various state and foreign authorities.

The following table summarizes, by major jurisdiction, tax years that remain subject to examination:

	Open Tax Years
Jurisdiction	Examinations not yet initiated		Examination in progress
United States
Federal		2010, 2013		2011 -2012
State		2009 - 2013		N/A
Canada (1)		2010 - 2013		2009
Germany (1)		2012 - 2013		2007 - 2011
France		2010, 2013		2011 - 2012
United Kingdom		2010 - 2013		N/A
Philippines		2012 - 2013		2011

(1) – includes provincial or similar local jurisdictions, as applicable

- 10 -

GLATFELTER

6.30.14 Form 10-Q

The amount of income taxes we pay is subject to ongoing audits by federal, state and foreign tax authorities, which often result in proposed assessments. Management performs a comprehensive review of its global tax positions on a quarterly basis and accrues amounts for uncertain tax positions. Based on these reviews and the result of discussions and resolutions of matters with certain tax authorities and the closure of tax years subject to tax audit, reserves are adjusted as necessary. However, future results may include favorable or unfavorable adjustments to our estimated tax liabilities in the period the assessments are determined or resolved or as such statutes are closed. Due to potential for resolution of federal, state and foreign examinations, and the lapse of various statutes of limitation, it is reasonably possible our gross unrecognized tax benefits balance may decrease within the next twelve months by a range of zero to $5.2 million. Substantially all of this range relates to tax positions taken in the U.S. and Germany.

We recognize interest and penalties related to uncertain tax positions as income tax expense. The following table summarizes information related to interest and penalties on uncertain tax positions:

	Six months ended June 30
In millions	2014		2013
Interest expense	$	0.1	$	0.3
Penalties		—		—
	June 30 2014		December 31 2013
Accrued interest payable	$	0.7	$	0.6

8. STOCK-BASED COMPENSATION

The P. H. Glatfelter Amended and Restated Long Term Incentive Plan (the “LTIP”) provides for the issuance of Glatfelter common stock to eligible participants in the form of restricted stock units, restricted stock awards, non-qualified stock options, performance shares, incentive stock options and performance units.

Pursuant to terms of the LTIP, we have issued to eligible participants restricted stock units, performance share awards and stock only stock appreciation rights.

Restricted Stock Units (“RSU”) and Performance Share Awards (“PSAs”) Awards of RSUs and PSAs are made under our LTIP. The RSUs vest on the passage of time, generally on a graded scale over a three, four, and five-year period, or in certain instances the RSUs were issued with five year cliff vesting. PSAs are issued annually to members of management and each respective grant cliff vests each December 31 of the third year following the grant, assuming the achievement of predetermined, three-year cumulative performance targets. The performance measures include a minimum, target and maximum performance level providing the grantees an opportunity to receive more or less shares than targeted depending on actual financial performance. For both RSUs and PSAs, the grant date fair value of the awards, which is equal to the closing price per common share on the date of the award, is used to determine the amount of expense to be recognized over the applicable service period. Settlement of RSUs and PSAs will be made in shares of our common stock currently held in treasury.

The following table summarizes RSU and PSA activity during periods indicated:

Units	2014			2013
Balance January 1,		1,001,814			847,679
Granted		167,255			180,602
Forfeited		(38,458	)		(36,435	)
Shares delivered		(239,394	)		(111,730	)
Balance June 30,		891,217			880,116

The amount granted in 2014 and 2013 includes PSAs of 93,660 and 151,955, respectively, exclusive of reinvested dividends.

The following table sets forth aggregate RSU and PSA compensation expense for the periods indicated:

	June 30
In thousands	2014		2013
Three months ended	$	441	$	604
Six months ended		1,020		1,324

Stock Only Stock Appreciation Rights (“SOSARs”) Under terms of the SOSAR, a recipient receives the right to a payment in the form of shares of common stock equal to the difference, if any, in the fair market value of one share of common stock at the time of exercising the SOSAR and the exercise price. The SOSARs vest ratably over a three year period and have a term of ten years.

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GLATFELTER

6.30.14 Form 10-Q

The following table sets forth information related to outstanding SOSARS.

	2014					2013
SOSARS	Shares			Wtd Avg Exercise Price		Shares			Wtd Avg Exercise Price
Outstanding at January 1,		1,977,133		$	13.91		2,121,454		$	12.93
Granted		275,529			29.89		361,923			18.36
Exercised		(19,199	)		15.57		(435,562	)		12.63
Canceled / forfeited		(24,719	)		18.85		(73,901	)		16.25
Outstanding at June 30,		2,208,744		$	15.83		1,973,914		$	13.87
SOSAR Grants
Weighted average grant date fair value per share	$	9.85				$	5.64
Aggregate grant date fair value (in thousands)	$	2,713				$	2,042
Black-Scholes assumptions
Dividend yield		1.47	%				2.18	%
Risk free rate of return		1.73	%				0.99	%
Volatility		37.59	%				39.62	%
Expected life		6 yrs					6 yrs

The following table sets forth SOSAR compensation expense for the periods indicated:

	June 30
In thousands	2014		2013
Three months ended	$	559	$	415
Six months ended		1,008		800

9. RETIREMENT PLANS AND OTHER POST-RETIREMENT BENEFITS

The following tables provide information with respect to the net periodic costs of our pension and post retirement medical benefit plans.

	Three months ended June 30
In thousands	2014			2013
Pension Benefits
Service cost	$	2,504		$	2,585
Interest cost		6,309			5,480
Expected return on plan assets		(10,931	)		(10,810	)
Amortization of prior service cost		921			774
Amortization of unrecognized loss		3,014			5,185
Net periodic benefit cost	$	1,817		$	3,214
Other Benefits
Service cost	$	615		$	789
Interest cost		598			545
Amortization of prior service cost		(72	)		(125	)
Amortization of unrecognized loss		129			202
Net periodic benefit cost	$	1,270		$	1,411
	Six months ended June 30
In thousands	2014			2013
Pension Benefits
Service cost	$	5,208		$	5,796
Interest cost		12,480			11,000
Expected return on plan assets		(21,938	)		(21,713	)
Amortization of prior service cost		1,655			1,548
Amortization of unrecognized loss		5,954			10,474
Net periodic benefit cost	$	3,359		$	7,105
Other Benefits
Service cost	$	1,230		$	1,578
Interest cost		1,196			1,090
Amortization of prior service cost		(144	)		(250	)
Amortization of unrecognized loss		258			404
Net periodic benefit cost	$	2,540		$	2,822

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GLATFELTER

6.30.14 Form 10-Q

10. INVENTORIES

Inventories, net of reserves, were as follows:

In thousands	June 30 2014		December 31 2013
Raw materials	$	66,232	$	59,440
In-process and finished		123,350		109,578
Supplies		68,250		67,292
Total	$	257,832	$	236,310

11. LONG-TERM DEBT

Long-term debt is summarized as follows:

In thousands	June 30 2014			December 31 2013
Revolving credit facility, due Nov. 2016	$	107,153		$	133,540
5.375% Notes, due Oct. 2020		250,000			250,000
2.05% Term Loan, due Mar. 2023		58,285			58,785
Total long-term debt		415,438			442,325
Less current portion		(1,821	)		—
Long-term debt, net of current portion	$	413,617		$	442,325

On November 21, 2011, we entered into an amendment to our revolving credit agreement with a consortium of banks (the “Revolving Credit Facility”) which increased the amount available for borrowing to $350 million, extended the maturity of the facility to November 21, 2016, and instituted a lower interest rate pricing grid.

For all U.S. dollar denominated borrowings under the Revolving Credit Facility, the borrowing rate is, at our option, (a) the bank’s base rate which is equal to the greater of i) the prime rate; ii) the federal funds rate plus 50 basis points plus an applicable spread ranging from 25 basis points to 125 basis points based on our corporate credit ratings determined by Standard & Poor’s Rating Services and Moody’s Investor Service, Inc. (the “Corporate Credit Rating”); or iii) the daily Euro-rate plus 100 basis points; or (b) the daily Euro-rate plus an applicable margin ranging from 125 basis points to 225 basis points based on the Corporate Credit Rating. For non-US dollar denominated borrowings, interest is based on (b) above.

The Revolving Credit Facility contains a number of customary covenants for financings of this type that, among other things, restrict our ability to dispose of or create liens on assets, incur additional indebtedness, repay other indebtedness, limits certain intercompany financing

arrangements, make acquisitions and engage in mergers or consolidations. We are also required to comply with specified financial tests and ratios including: i) maximum net debt to earnings before interest, taxes, depreciation and amortization (“EBITDA”) ratio (the “leverage ratio”); ii) a consolidated EBITDA to interest expense ratio; and iii) beginning December 31, 2015, a minimum liquidity ratio. The most restrictive of our covenants is a maximum leverage ratio of 3.5x. As of June 30, 2014, the leverage ratio, as calculated in accordance with the definition in our credit agreement, was 2.44x, within the limits set forth in our credit agreement. A breach of these requirements would give rise to certain remedies under the Revolving Credit Facility, among which are the termination of the agreement and accelerated repayment of the outstanding borrowings plus accrued and unpaid interest under the credit facility.

On October 3, 2012, we completed a private placement offering of $250.0 million aggregate principal amount of 5.375% Senior Notes due 2020 (the “5.375% Notes”). The 5.375% Notes are fully and unconditionally guaranteed, jointly and severally, by PHG Tea Leaves, Inc., Mollanvick, Inc., and Glatfelter Holdings, LLC (the “Guarantors”). The net proceeds from this were used to refinance our previous $200.0 million, to repay amounts outstanding under our revolving credit facility and for general corporate purposes.

Interest on the 5.375% Notes is payable semiannually in arrears on April 15 and October 15, commencing on April 15, 2013.

The 5.375% Notes are redeemable, in whole or in part, at anytime on or after October 15, 2016 at the redemption prices specified in the applicable Indenture. Prior to October 15, 2016, we may redeem some or all of the Notes at a “make-whole” premium as specified in the Indenture. These Notes and the guarantees of the notes are senior obligations of the Company and the Guarantors, respectively, rank equally in right of payment with future senior indebtedness of the Company and the Guarantors and will mature on October 15, 2020.

The 5.375% Notes contain various covenants customary to indebtedness of this nature including limitations on i) the amount of indebtedness that may be incurred; ii) certain restricted payments including common stock dividends; iii) distributions from certain subsidiaries; iv) sales of assets; v) transactions amongst subsidiaries; and vi) incurrence of liens on assets. In addition, the 5.375% Notes contain cross default provisions that could result in all such notes becoming due and payable in the event of a failure to repay debt outstanding under the Revolving Credit Agreement at maturity or a default under the Revolving Credit Agreement that accelerates the debt outstanding thereunder. As of June 30, 2014, we met all of the requirements of our debt covenants.

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GLATFELTER

6.30.14 Form 10-Q

On April 11, 2013, Glatfelter Gernsbach GmbH & Co. KG (“Gernsbach”), a wholly-owned subsidiary of ours, entered into an agreement with IKB Deutsche Industriebank AG, Düsseldorf (“IKB”), pursuant to which Gernsbach borrowed from IKB approximately €42.7 million (or $57.6 million) aggregate principal amount (the “IKB Loan”).

The IKB Loan, guaranteed in full by us, is repayable in 32 quarterly installments beginning on June 30, 2015 and ending on March 31, 2023 and will bear interest at a rate of 2.05% per annum. Interest on the IKB Loan or portion thereof is payable quarterly in each year of the term of the loan with interest accruing from the date the loan or portion thereof is drawn.

The IKB Loan provides for representations, warranties and covenants customary for financings of this type. The financial covenants contained in the IKB Loan, which relate to the minimum ratio of consolidated EBITDA to consolidated interest expense and the maximum ratio of consolidated total net debt to consolidated adjusted EBITDA, will be calculated by reference to our Amended and Restated Credit Agreement, dated November 21, 2011.

P. H. Glatfelter Company guarantees all debt obligations of its subsidiaries. All such obligations are recorded in these condensed consolidated financial statements.

As of June 30, 2014 and December 31, 2013, we had $5.2 million of letters of credit issued to us by certain financial institutions. The letters of credit, which reduce amounts available under our revolving credit facility, primarily provide financial assurances for the benefit of certain state workers compensation insurance agencies in conjunction with our self-insurance program. We bear the credit risk on this amount to the extent that we do not comply with the provisions of certain agreements. No amounts are outstanding under the letters of credit.

12. ASSET RETIREMENT OBLIGATION

During 2008, we recorded $11.5 million, net present value, of asset retirement obligations related to the legal requirement to close several lagoons at the Spring Grove, PA facility. Historically, lagoons were used to dispose of residual waste material. Closure of the lagoons is expected to be completed in 2016 and will be accomplished by filling the lagoons, installing a non-permeable liner which will be covered with soil to construct the required cap over the lagoons. The

retirement obligation was accrued with a corresponding increase in the carrying value of the property, equipment and timberlands caption on the consolidated balance sheet. The amount capitalized is being amortized as a charge to operations on the straight-line basis in relation to the expected closure period. Following is a summary of activity recorded during the first six months of 2014 and 2013:

In thousands	2014			2013
Balance at January 1,	$	5,032		$	8,882
Accretion		77			164
Payments		(429	)		(2,332	)
Gain		(86	)		—
Balance at June 30,	$	4,594		$	6,714

The following table summarizes the line items in the accompanying condensed consolidated balance sheets where the asset retirement obligations are recorded:

In thousands	June 30 2014		December 31 2013
Other current liabilities	$	2,485	$	915
Other long-term liabilities		2,109		4,117
Total	$	4,594	$	5,032

13. FAIR VALUE OF FINANCIAL INSTRUMENTS

The amounts reported on the condensed consolidated balance sheets for cash and cash equivalents and accounts receivable approximate fair value. The following table sets forth carrying value and fair value of long-term debt:

	June 30, 2014				December 31, 2013
In thousands	Carrying Value		Fair Value		Carrying Value		Fair Value
Fixed-rate bonds	$	250,000	$	264,244	$	250,000	$	254,533
2.05% Term loan		58,285		58,224		58,785		57,952
Variable rate debt		107,153		107,153		133,540		133,540
Total	$	415,438	$	429,621	$	442,325	$	446,025

As of June 30, 2014, and December 31, 2013, we had $250.0 million of 5.375% fixed rate bonds. These bonds are publicly registered, but thinly traded. Accordingly, the values set forth above for the bonds, as well as our other debt instruments, are based on observable inputs and other relevant market data (Level 2). The fair value of financial derivatives is set forth below in Note 14.

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GLATFELTER

6.30.14 Form 10-Q

14. FINANCIAL DERIVATIVES AND HEDGING ACTIVITIES

As part of our overall risk management practices, we enter into financial derivatives primarily designed to either i) hedge foreign currency risks associated with forecasted transactions – “cash flow hedges”; or ii) mitigate the impact that changes in currency exchange rates have on intercompany financing transactions and foreign currency denominated receivables and payables – “foreign currency hedges.”

Derivatives Designated as Hedging Instruments - Cash Flow Hedges We use currency forward contracts as cash flow hedges to manage our exposure to fluctuations in the currency exchange rates on certain forecasted production costs expected to be incurred over a maximum of twelve months. Currency forward contracts involve fixing the exchange for delivery of a specified amount of foreign currency on a specified date.

We designate certain currency forward contracts as cash flow hedges of forecasted raw material purchases or certain production costs with exposure to changes in foreign currency exchange rates. The effective portion of changes in the fair value of derivatives designated and that qualify as cash flow hedges of foreign exchange risk is deferred as a component of accumulated other comprehensive income in the accompanying condensed consolidated balance sheets and is subsequently reclassified into costs of products sold in the period that inventory produced using the hedged transaction affects earnings. The ineffective portion of the change in fair value of the derivative is recognized directly to earnings and reflected in the accompanying condensed consolidated statements of income as non-operating income (expense) under the caption “Other-net.”

We had the following outstanding derivatives that were used to hedge foreign exchange risks associated with forecasted transactions and designated as hedging instruments:

In thousands	June 30 2014		December 31 2013
Derivative	Buy Notional
Sell / Buy
Euro / U.S. dollar		26,348		27,105
U.S. dollar / Canadian dollar		9,449		13,077
Euro / Philippine peso		510,705		—
British Pound / Philippine peso		207,955		—
Euro / British Pound		3,468		—

These contracts have maturities of twelve months or less.

Derivatives Not Designated as Hedging Instruments—Foreign Currency Hedges We also enter into forward foreign exchange contracts to mitigate the impact changes in currency exchange rates have on balance sheet

monetary assets and liabilities. None of these contracts are designated as hedges for financial accounting purposes and, accordingly, changes in value of the foreign exchange forward contracts and in the offsetting underlying on-balance-sheet transactions are reflected in the accompanying condensed consolidated statements of income under the caption “Other – net.”

The following sets forth derivatives used to mitigate the impact changes in currency exchange rates have on balance sheet monetary assets and liabilities:

In thousands	June 30 2014			December 31 2013
Derivative	Sell (Buy) Notional
Sell / Buy
Euro / U.S. dollar		8,000			9,000
Euro / British Pound		(9,000	)		(8,000	)
Euro / British Pound		4,000			5,000
Canadian dollar / U.S. dollar		2,000			2,000
U.S. dollar / Euro		—			2,000
U.S. dollar / British Pound		7,000			6,000

These contracts have maturities of one month from the date originally entered into.

Fair Value Measurements The following table summarizes the fair values of derivative instruments for the period indicated and the line items in the accompanying condensed consolidated balance sheets where the instruments are recorded:

In thousands	June 30 2014		December 31 2013		June 30 2014		December 31 2013
Balance sheet caption	Prepaid Expenses and Other Current Assets				Other Current Liabilities
Designated as hedging:
Forward foreign currency exchange contracts	$	321	$	—	$	155	$	1,163
Not designated as hedging:
Forward foreign currency exchange contracts	$	15	$	36	$	80	$	46

The amounts set forth in the table above represent the net asset or liability giving effect to rights of offset with each counterparty. The effect of netting the amounts presented above did not have a material effect on our consolidated financial position.

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GLATFELTER

6.30.14 Form 10-Q

The following table summarizes the amount of income or (loss) from derivative instruments recognized in our results of operations for the periods indicated and the line items in the accompanying condensed consolidated statements of income where the results are recorded:

	Three months ended June 30						Six months ended June 30
In thousands	2014			2013			2014			2013
Designated as hedging:
Forward foreign currency exchange contracts:
Effective portion – cost of products sold	$	(641	)	$	(188	)	$	(1,090	)	$	(258	)
Ineffective portion – other – net		119			(53	)		100			26
Not designated as hedging:
Forward foreign currency exchange contracts:
Other – net	$	861		$	(763	)	$	1,196		$	(446	)

The impact of activity not designated as hedging was substantially all offset by the remeasurement of the underlying on-balance sheet item.

The fair value hierarchy consists of three broad levels, which gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3).

The fair values of the foreign exchange forward contracts are considered to be Level 2. Foreign currency forward contracts are valued using foreign currency forward and interest rate curves. The fair value of each contract is determined by comparing the contract rate to the forward rate and discounting to present value. Contracts in a gain position are recorded in the condensed consolidated balance sheets under the caption “Prepaid expenses and other current assets” and the value of contracts in a loss position is recorded under the caption “Other current liabilities.”

A rollforward of fair value amounts recorded as a component of accumulated other comprehensive income is as follows:

In thousands	2014			2013
Balance at January 1,	$	(1,296	)	$	(599	)
Deferred (losses) gains on cash flow hedges		292			(177	)
Reclassified to earnings		1,090			258
Balance at June 30,	$	86		$	(518	)

We expect substantially all of the amounts recorded as a component of accumulated other comprehensive income will be realized in results of operations within the next twelve months and the amount ultimately recognized will vary depending on actual market rates.

Credit risk related to derivative activity arises in the event the counterparty fails to meet its obligations to us. This exposure is generally limited to the amounts, if any, by which the counterparty’s obligations exceed our obligation to them. Our policy is to enter into contracts only with financial institutions which meet certain minimum credit ratings.

15. SHARE REPURCHASES

The following table summarizes share repurchases made pursuant to a $50 million share repurchase program which expires in May 2016:

	shares		(thousands)
Authorized amount		n/a	$	50,000
Repurchases		651,419		(14,006	)
Remaining authorization			$	35,994

The amounts set forth above include 360,299 shares at a cost of $9.5 million of repurchases completed in 2014.

16. COMMITMENTS, CONTINGENCIES AND LEGAL PROCEEDINGS

Fox River – Neenah, Wisconsin

Background. We have significant uncertainties associated with environmental claims arising out of the presence of polychlorinated biphenyls (“PCBs”) in sediments in the lower Fox River, on which our former Neenah facility was located, and in the Bay of Green Bay Wisconsin (collectively, the “Site”). The United States, the State of Wisconsin, and two Indian tribes (collectively, the “Governments”) seek to require (a) a cleanup of the Site

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GLATFELTER

6.30.14 Form 10-Q

(“response actions”), (b) reimbursement of cleanup costs (“response costs”), and (c) natural resource damages (“NRDs”). They claim that we, together with seven other entities that have been formally notified that they are potentially responsible parties (“PRPs”) under CERCLA for response costs or NRDs, are jointly and severally responsible under the Comprehensive Environmental Response, Compensation and Liability Act (“CERCLA” or “Superfund”) for those response actions, response costs, and NRDs, all of which may total in excess of $1 billion.

The PRPs consist of us, Appvion, Inc. (formerly known as Appleton Papers Inc.), CBC Coating, Inc. (formerly known as Riverside Paper Corporation), Georgia-Pacific Consumer Products, L.P. (formerly known as Fort James Operating Company), Menasha Corporation, NCR Corporation (“NCR”), U.S. Paper Mills Corp., and WTM I Company.

The Governments have identified manufacturing and recycling of NCR^®-brand carbonless copy paper as the principal source of the PCBs in sediments at the Site. Our predecessor, the Bergstrom Paper Company and later we, operated a deinking paper mill in Neenah, Wisconsin. This mill received NCR^®-brand carbonless copy paper in its furnish and discharged PCBs to Little Lake Butte des Morts, an impoundment of the river at the upstream end of the Site.

The United States Environmental Protection Agency (“EPA”) has divided the Site into five “operable units”, including the most upstream (“OU1”) and four downstream reaches of the river and bay (“OU2-5”). OU1 extends from primarily Lake Winnebago to the dam at Appleton, and is comprised of Little Lake Butte des Morts. The Neenah Facility discharged its wastewater into this portion of the site.

We have resolved our liability for response actions and response costs associated with the permanent cleanup of Little Lake Butte des Morts through a consent decree, and amendments, entered in United States v. P.H. Glatfelter Co., No. 2:03-cv-949-LA (E.D. Wis.). Together with WTM I Company and with assistance from Menasha Corporation, we have completed that cleanup except for on-going operation and maintenance.

In November 2007, the EPA issued a unilateral administrative order for remedial action (“UAO”) to us and to seven other respondents directing us to implement the cleanup of the Site downstream of Little Lake Butte des Morts. Since that time, the district court has held that one of the respondents, Appvion, is not liable for this Site. In addition, the United States and the State of Wisconsin have entered into a settlement with another respondent, Georgia-Pacific LLP (“GP”), limiting GP’s responsibility

to the downstream-most three miles of the river. Work has proceeded to implement the UAO, mostly funded by NCR and its indemnitors.

In January 2008, two of the UAO respondents, NCR and Appleton Papers Inc. (now known as Appvion), brought two actions, consolidated under the caption Appleton Papers Inc. v. George A. Whiting Paper Co., No. 2:08-cv-16-WCG (E.D. Wis.) (“Whiting Litigation”), that ultimately involved us and more than two dozen parties in litigation to allocate among the parties the responsibility for response actions, response costs, and NRDs for this Site. Most of the parties responsible for relatively small discharges of PCBs settled with the Governments, resolving their liability. On June 27, 2013, the district court entered a final judgment that (a) neither NCR nor Appvion may pursue any other party for contribution, (b) NCR owes us and the other non-settling parties “full contribution” for any amounts we may have to pay on account of response actions or response costs downstream of Little Lake Butte des Morts or on account of NRDs, (c) NCR is not liable for response costs, response actions, or NRDs in Little Lake Butte des Morts, and (d) NCR owes us reimbursement of $4.28 million in costs we incurred in the past. NCR and Appvion have appealed that judgment. We have filed a cross-appeal of that judgment (as have several other defendants), challenging those portions of the judgment with which we disagree, including the ruling that NCR is not liable for response costs, response actions, or NRDs in Little Lake Butte des Morts. Until the Whiting Litigation judgment is affirmed on appeal, all past and future costs or damages incurred by any person remain the subject of litigation against us.

In October 2010, the United States and the State of Wisconsin sued us and thirteen other defendants to recover an injunction requiring the UAO respondents to complete the response actions required by the UAO and all parties to reimburse past and future response costs incurred by the Governments as well as to pay NRDs. That case is captioned United States v. NCR Corp., No. 1:10-cv-910-WCG (E.D. Wis.) (“Government Action”). To date, litigation of the Government Action has been limited to the United States’ claim against the UAO respondents for a mandatory injunction to require implementation of the remaining work under the UAO, that is, completion of the remedy in the 33 miles of the river downstream of Little Lake Butte des Morts. Following a trial in December 2012, on May 1, 2013, the district court granted that injunction (“May 2013 Order”). The May 2013 Order directs the Company “jointly and severally” along with three other defendants that are also enjoined (NCR, WTM I Company, and Menasha Corporation) to comply with the UAO. An accompanying declaratory judgment declares the Company and those three defendants jointly and severally liable with three

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6.30.14 Form 10-Q

additional defendants (Georgia-Pacific, LLP, U.S. Paper Mills, Inc., and CBC Coatings, Inc.) that have entered into agreements with the United States governing those parties’ compliance with the UAO. The district court has denied NCR’s motion to require us to contribute to compliance with the injunction. We have appealed the May 2013 Order, as have NCR, WTM I, and Menasha.

On March 26, 2014, the United States lodged three proposed consent decrees under which all parties, other than NCR, GP, and us, would resolve their liability for this Site. Under the terms of those consent decrees, each of the Settling Defendants would pay a cash amount aggregating $56.6 million primarily for NRDs and past response costs, and would have no further obligations under the UAO or to satisfy any judgment in the Government Action.

Cost estimates. Estimates of the Site remediation change over time as we, or others, gain additional data and experience at the Site. In addition, disagreement exists over the likely costs for some of this work. Based upon estimates made by the Governments and independent estimates commissioned by various potentially responsible parties, we have no reason to disagree with the Governments’ assertion that total past and future response costs and NRDs at this site may exceed $1 billion and that $1.5 billion is a reasonable “outside estimate.” Much of that amount has already been incurred. As described below, some of that amount is NRDs. The parties implementing the response action under the UAO in the downstream part of the river estimate the cost of work done in 2013 and the future cost of work yet to be done totals approximately $360 million. The Governments seek to have that work done at a rate estimated to cost approximately $70 million each year from 2013 through 2016, and at lower rates afterward.

NRDs. The Governments’ NRD assessment documents claimed that we are jointly and severally responsible for NRDs with a value between $176 million and $333 million. The Governments now claim that this range should be inflated to 2009 dollars and then certain unreimbursed past assessment costs should be added, so that the range of their claim would be $287 million to $423 million. We deny liability for most of these NRDs and believe that even if anyone is liable, that we are not jointly and severally liable for the full amount. The May 2013 Order does not determine whether liability for NRDs would be joint and several. Moreover, we believe that the Natural Resource Trustees may not legally pursue this claim at this late date, as the limitations period for NRD claims is three years from discovery.

Reserves for the Site. As of June 30, 2014, our reserve for the Site, including our remediation and ongoing monitoring obligations in Little Lake Butte des Morts, our

share of remediation of the rest of the Site, NRDs associated with PCB contamination at the Site and all pending, threatened or asserted and unasserted claims against us relating to PCB contamination at the Site totaled $16.3 million. Of our total reserve for the Fox River, $0.1 million is recorded in the accompanying condensed consolidated balance sheets under the caption “Environmental liabilities” and the remainder is recorded under the caption “Other long term liabilities.”

Although we believe that amounts already funded by us and WTM I to implement the Little Lake Butte des Morts remedy are adequate and no payments have been required since January 2009, there can be no assurance that these amounts will in fact suffice. WTM I has filed a bankruptcy petition in the Bankruptcy Court in Richmond; accordingly, there can be no assurance that WTM I will be able to fulfill its obligation to pay half of any additional costs, if required.

We do not believe that we will be allocated a significant percentage share of liability in any final equitable allocation of the response costs and NRDs. The accompanying condensed consolidated financial statements do not include reserves for defense costs for the Whiting Litigation, the Government Action, or any future defense costs related to our involvement at the Site, which could be significant.

In setting our reserve for the Site, we have assessed our legal defenses, including our successful defenses to the allegations made in the Whiting Litigation and the determination in the Whiting Litigation that NCR owes us “full contribution” for response costs and NRDs that we may become obligated to pay except in OU1, and assumed that we will not bear the entire cost of remediation or damages to the exclusion of other known parties at the Site, who are also potentially jointly and severally liable. The existence and ability of other parties to participate has also been taken into account in setting our reserve, and is generally based on our evaluation of recent publicly available financial information on certain of the responsible parties and any known insurance, indemnity or cost sharing agreements between responsible parties and third parties. In addition, our assessment is based upon the magnitude, nature, location and circumstances associated with the various discharges of PCBs to the river and the relationship of those discharges to identified contamination. We will continue to evaluate our exposure and the level of our reserves, including, but not limited to, our potential share of the costs and NRDs, if any, associated with the Site.

The amount and timing of future expenditures for environmental compliance, cleanup, remediation and personal injury, NRDs and property damage liabilities cannot be ascertained with any certainty due to, among

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GLATFELTER

6.30.14 Form 10-Q

other things, the unknown extent and nature of any contamination, the response actions that may ultimately be required, the availability of remediation equipment and landfill space, and the number and financial resources of any other PRPs.

Other Information. The Governments have published studies estimating the amount of PCBs discharged by each identified potentially responsible party (“PRP’s”) to the lower Fox River and Green Bay. These reports estimate our Neenah mill’s share of the mass of PCBs discharged to be as high as 27%. The district court in its May 2013 Order found the discharge mass estimates used in these studies not to be accurate. We believe that the Neenah mill’s absolute and relative contribution of PCB mass is significantly lower than the estimates set forth in these studies. The trial court in the Government Action has found that the Neenah mill discharged an unknown amount of PCBs.

In any event, based upon the rulings in the Whiting Litigation and the Government Action, neither of which endorsed an equitable allocation in proportion to the mass of PCBs discharged, we continue to believe that an allocation in proportion to mass of PCBs discharged would not constitute an equitable allocation of the potential liability for the contamination at the Fox River. We contend that other factors, such as the location of contamination, the location of discharge, and a party’s role in causing discharge, must be considered in order for the allocation to be equitable.

In the 1990s, we entered into interim cost-sharing agreements with six of the other PRPs, which provided for those PRPs to share certain costs relating to scientific studies of PCBs discharged at the Site (“Interim Cost Sharing Agreements”). These Interim Cost Sharing Agreements do not establish the final allocation of remediation costs incurred at the Site. Based upon our evaluation of the rulings in the Whiting Litigation as well as the volume, nature and location of the various discharges of PCBs at the Site and the relationship of those discharges to identified contamination, we believe our allocable share of liability at the Site is less than our share of costs under the Interim Cost Sharing Agreements.

Range of Reasonably Possible Outcomes. Our analysis of the range of reasonably possible outcomes is derived from all available information, including but not limited to decisions of the courts, official documents such as records of decision, discussions with the United States and other parties, as well as legal counsel and engineering

consultants. Based on our analysis of the current records of decision and cost estimates for work to be performed at the Site, we believe that it is reasonably possible that our costs associated with the Fox River matter may exceed our cost estimates and the aggregate amounts accrued for the Fox River matter by amounts that are insignificant or that could range up to $275 million over an undeterminable period that could range beyond 10 years. We believe that the likelihood of an outcome in the upper end of the monetary range is significantly less than other possible outcomes within the range and that the possibility of an outcome in excess of the upper end of the monetary range is remote. The rulings in our favor in the Whiting Litigation, if sustained on appeal, suggest that outcomes in the upper end of the monetary range have become somewhat less likely, while adverse rulings on some issues in the Whiting Litigation and the Government Action and increases in cost estimates for some of the work may make an outcome in the upper end of the range more likely. The Company also believes that the effect of reading the Whiting Litigation decisions together with the May 2013 Order requires the ongoing compliance with the UAO to be funded by NCR, or to the extent that the Company is required to provide any such funding, that NCR will be required to reimburse the Company. There can be no assurance, however, that the May 2013 Order will not have a material adverse effect on the Company’s consolidated financial position, liquidity or results of operation.

Summary. Our current assessment is that we will be able to manage this environmental matter without a long-term, material adverse impact on the Company. This matter could, however, at any particular time or for any particular year or years, have a material adverse effect on our consolidated financial position, liquidity and/or results of operations or could result in a default under our debt covenants. Moreover, there can be no assurance that our reserves will be adequate to provide for future obligations related to this matter, that our share of costs and/or damages will not exceed our available resources, or that those obligations will not have a long-term, material adverse effect on our consolidated financial position, liquidity or results of operations. Should a court grant the United States or the State of Wisconsin relief that requires us individually either to perform directly or to contribute significant amounts towards remedial action downstream of Little Lake Butte des Morts or to NRDs, those developments could have a material adverse effect on our consolidated financial position, liquidity and results of operations and might result in a default under our loan covenants.

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GLATFELTER

6.30.14 Form 10-Q

17. SEGMENT INFORMATION

The following tables sets forth financial and other information by business unit for the period indicated:

Three months ended June 30 Dollars in millions	Composite Fibers				Advanced Airlaid Materials				Specialty Papers						Other and Unallocated						Total
	2014		2013		2014		2013		2014			2013			2014			2013			2014			2013
Net sales	$	157.0	$	142.6	$	70.5	$	66.4	$	217.9		$	217.0		$	—		$	—		$	445.3		$	426.0
Energy and related sales, net		—		—		—		—		0.8			0.4			—			—			0.8			0.4
Total revenue		157.0		142.6		70.5		66.4		218.7			217.4			—			—			446.1			426.4
Cost of products sold		126.9		114.6		62.0		58.8		214.1			207.9			1.7			4.2			404.7			385.6
Gross profit (loss)		30.1		27.9		8.5		7.6		4.6			9.5			(1.7	)		(4.2	)		41.4			40.8
SG&A		12.8		11.5		2.3		2.4		11.8			13.4			5.4			7.3			32.3			34.5
Gains on dispositions of plant, equipment and timberlands, net		—		—		—		—		—			—			(1.5	)		—			(1.5	)		—
Total operating income (loss)		17.3		16.4		6.2		5.2		(7.2	)		(3.9	)		(5.6	)		(11.5	)		10.6			6.3
Non-operating expense		—		—		—		—		—			—			(4.6	)		(4.3	)		(4.6	)		(4.3	)
Income (loss) before income taxes	$	17.3	$	16.4	$	6.2	$	5.2	$	(7.2	)	$	(3.9	)	$	(10.2	)	$	(15.8	)	$	6.0		$	2.0
Supplementary Data
Net tons sold (thousands)		39.4		35.0		24.6		23.7		190.7			195.7			—			—			254.8			254.4
Depreciation, depletion and amortization	$	7.6	$	5.9	$	2.3	$	2.2	$	7.9		$	8.3		$	0.5		$	0.2		$	18.3		$	16.7
Capital expenditures		5.4		18.8		1.4		1.9		8.6			8.2			0.3			0.6			15.7			29.4
Six months ended June 30 Dollars in millions	Composite Fibers				Advanced Airlaid Materials				Specialty Papers						Other and Unallocated						Total
	2014		2013		2014		2013		2014			2013			2014			2013			2014			2013
Net sales	$	315.6	$	254.4	$	141.8	$	132.7	$	443.7		$	444.1		$	—		$	—		$	901.1		$	831.2
Energy and related sales, net		—		—		—		—		6.1			1.5			—			—			6.1			1.5
Total revenue		315.6		254.4		141.8		132.7		449.8			445.6			—			—			907.1			832.7
Cost of products sold		252.9		205.0		125.1		118.4		429.1			403.4			3.5			7.7			810.6			734.5
Gross profit (loss)		62.7		49.4		16.7		14.3		20.7			42.3			(3.5	)		(7.7	)		96.5			98.2
SG&A		26.1		21.3		4.7		4.5		25.5			27.9			9.6			14.3			65.9			68.0
Gains on dispositions of plant, equipment and timberlands, net		—		—		—		—		—			—			(2.3	)		(0.1	)		(2.3	)		(0.1	)
Total operating income (loss)		36.6		28.1		12.0		9.8		(4.8	)		14.4			(10.8	)		(21.9	)		32.9			30.3
Non-operating expense		—		—		—		—		—			—			(9.2	)		(7.8	)		(9.2	)		(7.8	)
Income (loss) before income taxes	$	36.6	$	28.1	$	12.0	$	9.8	$	(4.8	)	$	14.4		$	(20.0	)	$	(29.7	)	$	23.7		$	22.5
Supplementary Data
Net tons sold (thousands)		79.4		57.6		49.7		47.6		392.9			398.0			—			—			522.1			503.2
Depreciation, depletion and amortization	$	15.3	$	10.6	$	4.6	$	4.4	$	16.1		$	16.6		$	0.9		$	0.4		$	36.9		$	32.0
Capital expenditures		11.4		36.2		2.9		4.0		14.8			16.8			1.1			3.8			30.2			60.8

The sum of individual amounts set forth above may not agree to the consolidated financial statements included herein due to rounding.

On April 30, 2013, we completed the acquisition of Dresden for $211 million. Dresden’s results are included prospectively from the acquisition date as part of the Composite Fibers business unit. For additional information related to this acquisition, refer to Note 3 – Acquisition.

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GLATFELTER

6.30.14 Form 10-Q

18. CONDENSED CONSOLIDATING FINANCIAL STATEMENTS

Our 5.375% Notes issued by P. H. Glatfelter Company (the “Parent”) are fully and unconditionally guaranteed, on a joint and several basis, by certain of our 100%-owned domestic subsidiaries, PHG Tea Leaves, Inc., Mollanvick, Inc., and Glatfelter Holdings, LLC. The guarantees are subject to certain customary release provisions including i) the designation of such subsidiary as an unrestricted or excluded subsidiary; (ii) in connection with any sale or disposition of the capital stock of the subsidiary guarantor; and (iii) upon our exercise of our legal defeasance option or our covenant defeasance option, all of which are more fully described in the Indenture dated as of October 3, 2012 among us, the Guarantors and US Bank National Association, as Trustee, relating to the 5.375% Notes. The following presents our condensed consolidating statements of income, including comprehensive income for the three months and six months ended June 30, 2014 and 2013, our condensed consolidating balance sheets as of June 30, 2014 and December 31, 2013 and condensed consolidating cash flows for the six months ended June 30, 2014 and 2013. These financial statements reflect the parent, the guarantor subsidiaries (on a combined basis), the non-guarantor subsidiaries (on a combined basis) and elimination entries necessary to combine such entities on a consolidated basis. Effective December 31, 2013, Glatfelter Pulpwood Company, previously a guarantor, was merged with and into the parent. Accordingly, all condensed consolidating financial statements have been restated to give effect to this merger as of the earliest period presented. In addition, the amounts of intercompany investing and financing activities and the related interest expense and interest income previously presented net for the six months ended June 30, 2013 have been presented on a gross basis to conform to the current year’s presentation.

Condensed Consolidating Statements of Income and Comprehensive Income for the

three months ended June 30, 2014

In thousands	Parent Company			Guarantors			Non Guarantors			Adjustments/ Eliminations			Consolidated
Net sales	$	217,864		$	4		$	227,478		$	(5	)	$	445,341
Energy and related sales, net		790			—			—			—			790
Total revenues		218,654			4			227,478			(5	)		446,131
Costs of products sold		215,756			4			188,939			(5	)		404,694
Gross profit		2,898			—			38,539			—			41,437
Selling, general and administrative expenses		16,555			143			15,616			—			32,314
Gains on dispositions of plant, equipment and timberlands, net		(162	)		(1,316	)		(4	)		—			(1,482	)
Operating income (loss)		(13,495	)		1,173			22,927			—			10,605
Other non-operating income (expense)
Interest expense		(4,756	)		—			(2,815	)		2,809			(4,762	)
Interest income		164			2,656			41			(2,809	)		52
Other, net		18,683			11			389			(19,022	)		61
Total other non-operating income (expense)		14,091			2,667			(2,385	)		(19,022	)		(4,649	)
Income before income taxes		596			3,840			20,542			(19,022	)		5,956
Income tax provision (benefit)		(4,073	)		715			4,645			—			1,287
Net income		4,669			3,125			15,897			(19,022	)		4,669
Other comprehensive income (loss)		3,026			(550	)		1,098			(548	)		3,026
Comprehensive income	$	7,695		$	2,575		$	16,995		$	(19,570	)	$	7,695

- 21 -

GLATFELTER

6.30.14 Form 10-Q

Condensed Consolidating Statements of Income and Comprehensive Income for the

three months ended June 30, 2013

In thousands	Parent Company			Guarantors			Non Guarantors			Adjustments/ Eliminations			Consolidated
Net sales	$	216,985		$	8		$	208,982		$	(8	)	$	425,967
Energy and related sales, net		424			—			—			—			424
Total revenues		217,409			8			208,982			(8	)		426,391
Costs of products sold		210,978			8			174,573			(8	)		385,551
Gross profit		6,431			—			34,409			—			40,840
Selling, general and administrative expenses		16,928			88			17,512			—			34,528
Gains on dispositions of plant, equipment and timberlands, net		(17	)		—			(2	)		—			(19	)
Operating income (loss)		(10,480	)		(88	)		16,899			—			6,331
Other non-operating income (expense)
Interest expense		(4,703	)		—			(1,672	)		1,861			(4,514	)
Interest income		176			1,727			4			(1,861	)		46
Other, net		12,139			(6	)		714			(12,672	)		175
Total other non-operating income (expense)		7,612			1,721			(954	)		(12,672	)		(4,293	)
Income (loss) before income taxes		(2,868	)		1,633			15,945			(12,672	)		2,038
Income tax provision (benefit)		(3,801	)		634			4,272			—			1,105
Net income		933			999			11,673			(12,672	)		933
Other comprehensive income		7,105			1,379			3,119			(4,498	)		7,105
Comprehensive income	$	8,038		$	2,378		$	14,792		$	(17,170	)	$	8,038

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GLATFELTER

6.30.14 Form 10-Q

Condensed Consolidating Statements of Income and Comprehensive Income for the

six months ended June 30, 2014

In thousands	Parent Company			Guarantors			Non Guarantors			Adjustments/ Eliminations			Consolidated
Net sales	$	443,695		$	21		$	457,367		$	(21	)	$	901,062
Energy and related sales – net		6,052			—			—			—			6,052
Total revenues		449,747			21			457,367			(21	)		907,114
Costs of products sold		432,472			21			378,165			(21	)		810,637
Gross profit		17,275			—			79,202			—			96,477
Selling, general and administrative expenses		34,347			156			31,362			—			65,865
Gains on dispositions of plant, equipment and timberlands, net		(974	)		(1,317	)		—			—			(2,291	)
Operating income		(16,098	)		1,161			47,840			—			32,903
Other non-operating income (expense)
Interest expense		(9,494	)		—			(5,545	)		5,465			(9,574	)
Interest income		316			5,214			48			(5,465	)		113
Other, net		40,300			21			1,471			(41,520	)		272
Total other non-operating income (expense)		31,122			5,235			(4,026	)		(41,520	)		(9,189	)
Income before income taxes		15,024			6,396			43,814			(41,520	)		23,714
Income tax provision (benefit)		(4,293	)		1,628			7,062			—			4,397
Net income		19,317			4,768			36,752			(41,520	)		19,317
Other comprehensive income (loss)		5,991			(549	)		1,983			(1,434	)		5,991
Comprehensive income	$	25,308		$	4,219		$	38,735		$	(42,954	)	$	25,308

- 23 -

GLATFELTER

6.30.14 Form 10-Q

Condensed Consolidating Statements of Income and Comprehensive Income for the

six months ended June 30, 2013

In thousands	Parent Company			Guarantors			Non Guarantors			Adjustments/ Eliminations			Consolidated
Net sales	$	444,101		$	13		$	387,055		$	(13	)	$	831,156
Energy and related sales, net		1,525			—			—			—			1,525
Total revenues		445,626			13			387,055			(13	)		832,681
Costs of products sold		409,926			13			324,540			(13	)		734,466
Gross profit		35,700			—			62,515			—			98,215
Selling, general and administrative expenses		38,054			102			29,859			—			68,015
Gains on dispositions of plant, equipment and timberlands, net		(90	)		—			(2	)		—			(92	)
Operating income (loss)		(2,264	)		(102	)		32,658			—			30,292
Other non-operating income (expense)
Interest expense		(9,419	)		—			(2,485	)		3,549			(8,355	)
Interest income		260			3,416			22			(3,550	)		148
Other, net		24,095			(8	)		1,454			(25,119	)		422
Total other non-operating income (expense)		14,936			3,408			(1,009	)		(25,120	)		(7,785	)
Income before income taxes		12,672			3,306			31,649			(25,120	)		22,507
Income tax provision (benefit)		(3,890	)		1,308			8,527			—			5,945
Net income		16,562			1,998			23,122			(25,120	)		16,562
Other comprehensive loss		(584	)		(3,229	)		(4,859	)		8,088			(584	)
Comprehensive income (loss)	$	15,978		$	(1,231	)	$	18,263		$	(17,032	)	$	15,978

- 24 -

GLATFELTER

6.30.14 Form 10-Q

Condensed Consolidating Balance Sheet as of

June 30, 2014

In thousands	Parent Company		Guarantors		Non Guarantors		Adjustments/ Eliminations			Consolidated
Assets
Cash and cash equivalents	$	9,411	$	179	$	18,426	$	—		$	28,016
Other current assets		225,862		335,537		318,541		(366,211	)		513,729
Plant, equipment and timberlands, net		249,508		997		469,314		—			719,819
Other assets		1,021,078		234,602		209,890		(1,097,027	)		368,543
Total assets	$	1,505,859	$	571,315	$	1,016,171	$	(1,463,238	)	$	1,630,107
Liabilities and Shareholders’ Equity
Current liabilities	$	385,613	$	5,435	$	247,066	$	(374,307	)	$	263,807
Long-term debt		250,000		—		481,686		(318,069	)		413,617
Deferred income taxes		73,380		207		75,883		(9,465	)		140,005
Other long-term liabilities		104,283		—		12,809		3,003			120,095
Total liabilities		813,276		5,642		817,444		(698,838	)		937,524
Shareholders’ equity		692,583		565,673		198,727		(764,400	)		692,583
Total liabilities and shareholders’ equity	$	1,505,859	$	571,315	$	1,016,171	$	(1,463,238	)	$	1,630,107

Condensed Consolidating Balance Sheet as of

December 31, 2013

In thousands	Parent Company		Guarantors			Non Guarantors		Adjustments/ Eliminations			Consolidated
Assets
Cash and cash equivalents	$	56,216	$	501		$	66,165	$	—		$	122,882
Other current assets		208,814		327,152			253,779		(326,045	)		463,700
Plant, equipment and timberlands, net		247,243		1,054			475,043		—			723,340
Other assets		973,748		236,411			214,301		(1,055,972	)		368,488
Total assets	$	1,486,021	$	565,118		$	1,009,288	$	(1,382,017	)	$	1,678,410
Liabilities and Shareholders’ Equity
Current liabilities	$	375,535	$	2,855		$	247,855	$	(337,878	)	$	288,367
Long-term debt		250,000		—			513,120		(320,795	)		442,325
Deferred income taxes		70,989		(283	)		78,633		(8,319	)		141,020
Other long-term liabilities		105,021		—			13,792		3,409			122,222
Total liabilities		801,545		2,572			853,400		(663,583	)		993,934
Shareholders’ equity		684,476		562,546			155,888		(718,434	)		684,476
Total liabilities and shareholders’ equity	$	1,486,021	$	565,118		$	1,009,288	$	(1,382,017	)	$	1,678,410

- 25 -

GLATFELTER

6.30.14 Form 10-Q

Condensed Consolidating Statement of Cash Flows for the six

months ended June 30, 2014

In thousands	Parent Company			Guarantors			Non Guarantors			Adjustments/ Eliminations			Consolidated
Net cash provided (used) by
Operating activities	$	(15,054	)	$	1,773		$	(8,085	)	$	—		$	(21,366	)
Investing activities
Expenditures for purchases of plant, equipment and timberlands		(15,963	)		—			(14,193	)		—			(30,156	)
Proceeds from disposal plant, equipment and timberlands, net		1,000			1,355			5			—			2,360
Advances of intercompany loans		—			(3,450	)		—			3,450			—
Other		(100	)		—			—			—			(100	)
Total investing activities		(15,063	)		(2,095	)		(14,188	)		3,450			(27,896	)
Financing activities
Net repayments of indebtedness		—			—			(25,425	)		—			(25,425	)
Payment of dividends to shareholders		(9,164	)		—			—			—			(9,164	)
Repurchases of common stock		(9,158	)		—			—			—			(9,158	)
Borrowings of intercompany loans		3,450			—			—			(3,450	)		—
Payments related to share-based compensation awards and other		(1,816	)		—			—			—			(1,816	)
Total financing activities		(16,688	)		—			(25,425	)		(3,450	)		(45,563	)
Effect of exchange rate on cash		—			—			(41	)		—			(41	)
Net decrease in cash		(46,805	)		(322	)		(47,739	)		—			(94,866	)
Cash at the beginning of period		56,216			501			66,165			—			122,882
Cash at the end of period	$	9,411		$	179		$	18,426		$	—		$	28,016

- 26 -

GLATFELTER

6.30.14 Form 10-Q

Condensed Consolidating Statement of Cash Flows for the six

months ended June 30, 2013

In thousands	Parent Company			Guarantors			Non Guarantors			Adjustments/ Eliminations			Consolidated
Net cash provided (used) by
Operating activities	$	13,825		$	2,187		$	32,215		$	—		$	48,227
Investing activities
Expenditures for purchases of plant, equipment and timberlands		(20,618	)		—			(40,205	)		—			(60,823	)
Proceeds from disposal plant, equipment and timberlands, net		89			—			3			—			92
Repayments from intercompany loans		—			28,750			—			(28,750	)		—
Advances of intercompany loans		(1,000	)		(35,057	)		—			36,057			—
Intecompany capital contributed		—			(91	)		—			91			—
Acquisitions, net of cash acquired		—			—			(210,911	)		—			(210,911	)
Other		(225	)		—			—			—			(225	)
Total investing activities		(21,754	)		(6,398	)		(251,113	)		7,398			(271,867	)
Financing activities
Net proceeds from indebtedness		—			—			182,230			—			182,230
Payments of note offering costs		(160	)		—			(259	)		—			(419	)
Payment of dividends to shareholders		(8,245	)		—			—			—			(8,245	)
Repayments of intercompany loans		(14,750	)		—			(14,000	)		28,750			—
Borrowings of intercompany loans		330			—			35,727			(36,057	)		—
Intercompany capital received		—			—			91			(91	)		—
Proceeds from stock options exercised and other		(2,332	)		—			—			—			(2,332	)
Total financing activities		(25,157	)		—			203,789			(7,398	)		171,234
Effect of exchange rate on cash		—			—			(518	)		—			(518	)
Net decrease in cash		(33,086	)		(4,211	)		(15,627	)		—			(52,924	)
Cash at the beginning of period		43,781			4,278			49,620			—			97,679
Cash at the end of period	$	10,695		$	67		$	33,993		$	—		$	44,755

- 27 -

GLATFELTER

6.30.14 Form 10-Q

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The following discussion should be read in conjunction with the information in the unaudited condensed consolidated financial statements and notes thereto included herein and Glatfelter’s Financial Statements and Management’s Discussion and Analysis of Financial Condition and Results of Operations included in our 2013 Annual Report on Form 10-K.

Forward-Looking Statements This Quarterly Report on Form 10-Q includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact, including statements regarding industry prospects and future consolidated financial position or results of operations, made in this Report on Form 10-Q are forward looking. We use words such as “anticipates”, “believes”, “expects”, “future”, “intends” and similar expressions to identify forward-looking statements. Forward-looking statements reflect management’s current expectations and are inherently uncertain. Our actual results may differ significantly from such expectations. The following discussion includes forward-looking statements regarding expectations of, among others, shipping volumes, selling prices, input costs, non-cash pension expense, environmental costs, capital expenditures and liquidity, all of which are inherently difficult to predict. Although we make such statements based on assumptions that we believe to be reasonable, there can be no assurance that actual results will not differ materially from our expectations. Accordingly, we identify the following important factors, among others, which could cause our results to differ from any results that might be projected, forecasted or estimated in any such forward-looking statements:

i. variations in demand for our products including the impact of any unplanned market-related downtime, or variations in product pricing;

ii. changes in the cost or availability of raw materials we use, in particular pulpwood, pulp, pulp substitutes, caustic soda, and abaca fiber;

iii. changes in energy-related costs and commodity raw materials with an energy component;

iv. our ability to develop new, high value-added products;

v. the impact of exposure to volatile market-based pricing for sales of excess electricity;

vi. the impact of competition, both domestic and international, changes in industry production capacity, including the construction of new mills or new machines, the closing of mills and incremental changes due to capital expenditures or productivity increases;

vii. the gain or loss of significant customers and/or on-going viability of such customers;

viii. cost and other effects of environmental compliance, cleanup, damages, remediation or restoration, or personal injury or property damages related thereto, such as the costs of natural resource restoration or damages related to the presence of polychlorinated biphenyls (“PCBs”) in the lower Fox River on which our former Neenah mill was located;

ix. adverse results in litigation in the Fox River matter;

x. risks associated with our international operations, including local economic and political environments and fluctuations in currency exchange rates;

xi. geopolitical events, including war and terrorism;

xii. disruptions in production and/or increased costs due to labor disputes;

xiii. the impact of unfavorable outcomes of audits by various state, federal or international tax authorities;

xiv. enactment of adverse state, federal or foreign tax or other legislation or changes in government policy or regulation; and

xv. our ability to finance, consummate and integrate acquisitions.

We manufacture a wide array of specialty papers and fiber-based engineered materials. We manage our company along three business units:

• Composite Fibers with revenue from the sale of single-serve coffee and tea filtration papers, non-woven wall covering, metallized papers, composite laminates, and other technical specialty papers;

• Advanced Airlaid Materials with revenue from the sale of airlaid non-woven fabric like materials used in feminine hygiene products, adult incontinence products, cleaning pads, food pads, napkins, tablecloths, and baby wipes; and

• Specialty Papers with revenue from the sale of carbonless papers, forms, book publishing, envelope & converting papers, and fiber-based engineered products.

- 28 -

GLATFELTER

6.30.14 Form 10-Q

RESULTS OF OPERATIONS

Six months ended June 30, 2014 versus the six months ended June 30, 2013

Overview For the first six months of 2014, net income was $19.3 million, or $0.44 per diluted share, compared with $16.6 million, or $0.38 per diluted share, in the same period of 2013. Our results reflect benefits from our two growth businesses as they delivered a combined 18% increase in net sales. Composite Fibers, driven by the previously acquired Dresden business, and Advanced Airlaid Materials reported improved operating profit of 30% and 22%, respectively, over the prior year period. In Specialty Papers, the first half of 2014 was significantly affected by poor pulp mill performance issues in Ohio, severe weather conditions and higher costs related to annual maintenance outages which led to unfavorable results compared to the prior year. In addition, our results benefited from a lower effective tax rate due to a greater proportion of earnings generated in lower tax foreign jurisdictions relative to the U.S. and a $2.2 million tax benefit related to the revaluation of deferred taxes.

The following table sets forth summarized results of operations:

	Six months ended June 30
In thousands, except per share	2014		2013
Net sales	$	901,062	$	831,156
Gross profit		96,477		98,215
Operating income		32,903		30,292
Net income		19,317		16,562
Earnings per diluted share		0.44		0.38

Effective April 30, 2013, we completed the acquisition of Dresden Papier GmbH (“Dresden”) for approximately $211 million, net of cash acquired. Our reported results include Dresden prospectively from the acquisition date, including $79.6 million of net sales and $17.1 million of operating profit for the first six months of 2014. The comparable amounts for the year earlier period were $27.7 million and $5.5 million, respectively.

In addition to the results reported in accordance with GAAP, we evaluate our performance using adjusted net income and adjusted earnings per diluted share. We disclose this information to allow investors to evaluate our performance exclusive of certain items that impact the comparability of results from period to period and that it is helpful in understanding underlying operating trends and cash flow generation. Adjusted net income consists of net income determined in accordance with GAAP adjusted to exclude the impact of the following:

Timberland sales and related costs. These adjustments exclude gains from the sales of timberlands as these items are not considered to be part of our core business, ongoing results of operations or cash flows. These adjustments are irregular in timing and amount and may significantly impact the Company’s operating performance. As such, these items may not be indicative of past and future performance of the Company and therefore are excluded for comparability purposes.

Acquisition and integration related costs. These adjustments include costs directly related to the consummation of the acquisition process and those related to integrating recently acquired businesses. These costs are irregular in timing and as such may not be indicative of our past and future performance.

International legal entity restructuring costs. These adjustments include costs that are directly related to actions undertaken to improve the flexibility of the organizational structure to support our growth initiatives. As such, these items are considered to be unusual in nature and not indicative of our past and future and are therefore excluded for the purpose of understanding underlying operating trends.

Adjusted earnings per diluted share is calculated by dividing adjusted net income by diluted weighted-average shares outstanding. Adjusted earnings and adjusted earnings per diluted share are considered measures not calculated in accordance with GAAP, and therefore are non-GAAP measures. These non-GAAP measures may differ from other companies. The non-GAAP financial information should not be considered in isolation from, or as a substitute for, measures of financial performance prepared in accordance with GAAP.

In thousands, except per share	After-tax Gain (loss)			Diluted EPS
2014
Net income	$	19,317		$	0.44
Timberland sales and related costs		(1,379	)		(0.03	)
Adjusted earnings (non-GAAP)	$	17,938		$	0.41
2013
Net income	$	16,562		$	0.38
Acquisition and integration related costs		5,730			0.13
International legal entity restructuring costs		453			0.01
Timberland sales and related costs		(282	)		(0.01	)
Adjusted earnings (non-GAAP)	$	22,463		$	0.51

- 29 -

GLATFELTER

6.30.14 Form 10-Q

Our growth-oriented fiber-based materials businesses reported improved results evidenced by a $10.7 million increase in operating profit. However, total operating income from all of our business units declined $8.5 million reflecting the impact of the decline in Specialty Papers results. Overall, shipping volumes increased 3.8% in the year-over-year comparison.

Composite Fibers’ operating income increased to $36.6 million from $28.1 million in the first six months of 2013 primarily due to the inclusion of Dresden. Excluding Dresden, shipping volumes declined 2.1% although the mix improved.

Advanced Airlaid Materials’ operating income increased to $12.0 million compared with $9.8 million for the first six months of 2013. The improved performance was largely driven by a 4.4% increase in shipping volumes.

Specialty Papers’ operating earnings declined $19.2 million to a loss of $4.8 million. The results were significantly affected by disruptions in pulp production, severe weather conditions through the first two months of 2014 and higher costs of the annual maintenance outages. Volumes shipped declined 1.3% in the comparison, although selling prices increased.

Business Unit Performance

Six months ended June 30 Dollars in millions	Composite Fibers				Advanced Airlaid Materials				Specialty Papers					Other and Unallocated						Total
	2014		2013		2014		2013		2014			2013		2014			2013			2014			2013
Net sales	$	315.6	$	254.4	$	141.8	$	132.7	$	443.7		$	444.1	$	—		$	—		$	901.1		$	831.2
Energy and related sales, net		—		—		—		—		6.1			1.5		—			—			6.1			1.5
Total revenue		315.6		254.4		141.8		132.7		449.8			445.6		—			—			907.1			832.7
Cost of products sold		252.9		205		125.1		118.4		429.1			403.4		3.5			7.7			810.6			734.5
Gross profit (loss)		62.7		49.4		16.7		14.3		20.7			42.3		(3.5	)		(7.7	)		96.5			98.2
SG&A		26.1		21.3		4.7		4.5		25.5			27.9		9.6			14.3			65.9			68.0
Gains on dispositions of plant, equipment and timberlands, net		—		—		—		—		—			—		(2.3	)		(0.1	)		(2.3	)		(0.1	)
Total operating income (loss)		36.6		28.1		12.0		9.8		(4.8	)		14.4		(10.8	)		(21.9	)		32.9			30.3
Non-operating expense		—		—		—		—		—			—		(9.2	)		(7.8	)		(9.2	)		(7.8	)
Income (loss) before income taxes	$	36.6	$	28.1	$	12.0	$	9.8	$	(4.8	)	$	14.4	$	(20.0	)	$	(29.7	)	$	23.7		$	22.5
Supplementary Data
Net tons sold (thousands)		79.4		57.6		49.7		47.6		392.9			398.0		—			—			522.1			503.2
Depreciation, depletion and amortization	$	15.3	$	10.6	$	4.6	$	4.4	$	16.1		$	16.6	$	0.9		$	0.4		$	36.9		$	32.0
Capital expenditures		11.4		36.2		2.9		4.0		14.8			16.8		1.1			3.8			30.2			60.8

The sum of individual amounts set forth above may not agree to the consolidated financial statements included herein due to rounding.

Business Units Results of individual business units 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 business units are not necessarily comparable with similar information for any other company. The management accounting process uses assumptions and allocations to measure performance of the business units. 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 business unit are allocated primarily based on an estimated utilization of support area services or are included in “Other and Unallocated” in the Business Unit Performance table.

Management evaluates results of operations of the business units 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 business units and the extent of cash flow generated from these core operations. Such amounts are presented under the caption “Other and Unallocated.” 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.

- 30 -

GLATFELTER

6.30.14 Form 10-Q

Sales and Costs of Products Sold

	Six months ended June 30
In thousands	2014			2013			Change
Net sales	$	901,062		$	831,156		$	69,906
Energy and related sales – net		6,052			1,525			4,527
Total revenues		907,114			832,681			74,433
Costs of products sold		810,637			734,466			76,171
Gross profit	$	96,477		$	98,215		$	(1,738	)
Gross profit as a percent of Net sales		10.7	%		11.8	%

The following table sets forth the contribution to consolidated net sales by each business unit:

	Six months ended June 30
Percent of Total	2014			2013
Business Unit
Composite Fibers		35.0	%		30.6	%
Advanced Airlaid Material		15.7			16.0
Specialty Papers		49.3			53.4
Total		100.0	%		100.0	%

Net sales for the first six months of 2014 totaled $901.1 million, an 8.4% increase compared with the same period of 2013. Excluding the Dresden acquisition, organic growth totaled 2.2%.

Composite Fibers’ net sales totaled $315.6 million in the first half of 2014, an increase of $61.2 million compared to the first half of 2013, of which the Dresden acquisition accounted for $51.9 million. On an organic basis, shipping volumes declined 2.1% although the mix was favorable. The translation of foreign currencies benefited the comparison by $9.7 million.

Operating income for the first six months of 2014 increased $8.5 million compared to the year-ago period due to the Dresden acquisition partially offset by raw material and other cost inflation.

In Advanced Airlaid Materials, net sales increased $9.1 million, or 6.9%, primarily due to a 4.4% increase in shipping volumes. Foreign currency translation favorably impacted the year-over-year net sales comparison by $3.5 million.

Advanced Airlaid Material’s operating income for the first six months of 2014 increased $2.2 million, or 22.4%, compared with the year-ago period, primarily due to higher shipping volumes and foreign currency translation.

In the Specialty Papers business unit, net sales in the first six months of 2014 decreased by $0.4 million compared with the same period of 2013 as the benefits of higher selling prices were offset by a 1.3% decline in shipping volumes. Higher average selling prices favorably affected the comparison by $7.7 million.

Specialty Papers’ reported an operating loss of $4.8 million for the first six months of 2014 compared with operating income of $14.4 million in the same period of 2013. The decline was primarily due to $9.4 million of costs related to pulp mill performance issues at its Ohio facility resulting in higher per ton pulp production costs as well as increased use of higher cost purchased pulp. These performance issues have since been resoled. In addition, the 2014 results were adversely impacted by $6.6 million of costs related to severe weather conditions as well as $6.5 million of higher costs related to the annual maintenance outages. Energy and related sales increased $4.5 million in the year-over-year comparison as severe weather conditions early in 2014 resulted in higher selling prices for excess power.

We sell excess power generated by the Spring Grove, PA facility. The following table summarizes this activity for the first six months of 2014 and 2013:

	Six months ended June 30
In thousands	2014			2013			Change
Energy sales	$	9,202		$	3,657		$	5,545
Costs to produce		(4,021	)		(3,294	)		(727	)
Net		5,181			363			4,818
Renewable energy credits		871			1,162			(291	)
Total	$	6,052		$	1,525		$	4,527

Renewable energy credits (“RECs”) represent sales of certified credits earned related to burning renewable sources of energy such as black liquor and wood waste. We sell RECs into an emerging and illiquid market. The extent and value of future revenues from REC sales is dependent on many factors outside of management’s control. Therefore, we may not be able to generate consistent additional sales of RECs in future periods.

Other and Unallocated The amount of net operating expenses not allocated to a business unit and reported as “Other and Unallocated” in our table of Business Unit Performance, totaled $10.8 million in the first six months of 2014 compared with $21.9 million in the first six months of

- 31 -

GLATFELTER

6.30.14 Form 10-Q

2013. Excluding the gains from sales of timberlands in the comparison, unallocated net operating expenses decreased $8.9 million primarily due to lower acquisition related costs and lower pension expense.

Pension Expense The following table summarizes the amounts of pension expense recognized for the periods indicated:

	Six months ended June 30
In thousands	2014		2013		Change
Recorded as:
Costs of products sold	$	3,306	$	6,182	$	(2,876	)
SG&A expense		53		923		(870	)
Total	$	3,359	$	7,105	$	(3,746	)

The amount of pension expense recognized each year is dependent on various actuarial assumptions and certain other factors, including discount rates and the fair value of our pension assets. Pension expense in 2014 is expected to be approximately $6.7 million compared with $14.2 million in 2013. The decrease is primarily due to higher discount rates and the impact of amortizing deferred actuarial gains from higher returns on assets in 2013.

Income taxes For the first six months of 2014, we recorded a provision for income taxes of $4.4 million on pretax income of $23.7 million The comparable amounts in the first six months of 2013 were income tax expense of $5.9 million on $22.5 million of pretax income. The effective tax rate in the first half of 2014 reflects a greater proportion of earnings generated in lower tax foreign jurisdictions relative to the U.S. and a $2.2 million tax benefit related to the revaluation of deferred taxes. In addition, due to the expiration of the U.S. research and development tax credit at the end of 2013, no credits were recorded in the first six months of 2014. The first six months of 2013 effective tax rate benefited from such credits by $1.9 million. In addition, the 2013 effective tax rate reflects the impact of certain non-deductible acquisition costs related to the Dresden acquisition.

Foreign Currency We own and operate facilities in Canada, Germany, France, the United Kingdom and the Philippines. The functional currency of our Canadian operations is the U.S. dollar. However, in Germany and France it is the Euro, in the UK, it is the British Pound Sterling, and in the Philippines the functional currency is the Peso. During the first six months of 2014, Euro functional currency operations generated approximately 33.4% of our sales and 30.0% of operating expenses and British Pound Sterling operations represented 6.1% of net sales and 5.5% of operating expenses. The translation of the results from international operations into U.S. dollars is subject to changes in foreign currency exchange rates.

- 32 -

GLATFELTER

6.30.14 Form 10-Q

The table below summarizes the translation impact on reported results that changes in currency exchange rates had on our non-U.S. based operations from the conversion of these operation’s results for the first six months of 2014 compared to the first six months 2013:

In thousands	Six months ended June 30, 2014
	Favorable (unfavorable)
Net sales	$	13,159
Costs of products sold		(9,151	)
SG&A expenses		(955	)
Income taxes and other		(531	)
Net income	$	2,522

The above table only presents the financial reporting impact of foreign currency translations assuming currency exchange rates in 2014 were the same as 2013. It does not present the impact of certain competitive advantages or disadvantages of operating or competing in multi-currency markets.

Three months ended June 30, 2014 versus the three months ended June 30, 2013

Overview For the second quarter of 2014, net income was $4.7 million, or $0.11 per diluted share, compared with $0.9 million, or $0.02 per diluted share, in the second quarter of 2013.

The following table sets forth summarized results of operations:

	Three months ended June 30
In thousands, except per share	2014		2013
Net sales	$	445,341	$	425,967
Gross profit		41,437		40,840
Operating income		10,605		6,331
Net income		4,669		933
Earnings per diluted share		0.11		0.02

Adjusted earnings, a non-GAAP financial measure, is set forth in the following table for the second quarters of 2014 and 2013:

In thousands, except per share	After-tax Gain (loss)			Diluted EPS
2014
Net income	$	4,669		$	0.11
Timberland sales and related costs		(872	)		(0.02	)
Adjusted earnings (non-GAAP)	$	3,797		$	0.09
2013
Net income	$	933		$	0.02
Acquisition and integration related costs		3,969			0.09
International legal entity restructuring costs		193			—
Adjusted earnings (non-GAAP)	$	5,095		$	0.12

- 33 -

GLATFELTER

6.30.14 Form 10-Q

Business Unit Performance

Three months ended June 30 Dollars in millions	Composite Fibers				Advanced Airlaid Materials				Specialty Papers						Other and Unallocated						Total
	2014		2013		2014		2013		2014			2013			2014			2013			2014			2013
Net sales	$	157.0	$	142.6	$	70.5	$	66.4	$	217.9		$	217.0		$	—		$	—		$	445.3		$	426.0
Energy and related sales, net		—		—		—		—		0.8			0.4			—			—			0.8			0.4
Total revenue		157.0		142.6		70.5		66.4		218.7			217.4			—			—			446.1			426.4
Cost of products sold		126.9		114.6		62.0		58.8		214.1			207.9			1.7			4.2			404.7			385.6
Gross profit (loss)		30.1		27.9		8.5		7.6		4.6			9.5			(1.7	)		(4.2	)		41.4			40.8
SG&A		12.8		11.5		2.3		2.4		11.8			13.4			5.4			7.3			32.3			34.5
Gains on dispositions of plant, equipment and timberlands, net		—		—		—		—		—			—			(1.5	)		—			(1.5	)		—
Total operating income (loss)		17.3		16.4		6.2		5.2		(7.2	)		(3.9	)		(5.6	)		(11.5	)		10.6			6.3
Non-operating expense		—		—		—		—		—			—			(4.6	)		(4.3	)		(4.6	)		(4.3	)
Income (loss) before income taxes	$	17.3	$	16.4	$	6.2	$	5.2	$	(7.2	)	$	(3.9	)	$	(10.2	)	$	(15.8	)	$	6.0		$	2.0
Supplementary Data
Net tons sold (thousands)		39.4		35.0		24.6		23.7		190.7			195.7			—			—			254.8			254.4
Depreciation, depletion and amortization	$	7.6	$	5.9	$	2.3	$	2.2	$	7.9		$	8.3		$	0.5		$	0.2		$	18.3		$	16.7
Capital expenditures		5.4		18.8		1.4		1.9		8.6			8.2			0.3			0.6			15.7			29.4

The sum of individual amounts set forth above may not agree to the consolidated financial statements included herein due to rounding.

Sales and Costs of Products Sold

	Three months ended June 30
In thousands	2014			2013			Change
Net sales	$	445,341		$	425,967		$	19,374
Energy and related sales – net		790			424			366
Total revenues		446,131			426,391			19,740
Costs of products sold		404,694			385,551			19,143
Gross profit	$	41,437		$	40,840		$	597
Gross profit as a percent of Net sales		9.3	%		9.6	%

The following table sets forth the contribution to consolidated net sales by each business unit:

	Three months ended June 30
Percent of Total	2014			2013
Business Unit
Composite Fibers		35.3	%		33.5	%
Advanced Airlaid Material		15.8			15.6
Specialty Papers		48.9			50.9
Total		100.0	%		100.0	%

Net sales for the second quarter of 2014 totaled $445.3 million, a 4.5% increase compared with $426.0 million for the same period of 2013.

Composite Fibers’ net sales increased $14.4 million, or 10.1%, primarily due to the inclusion of a full quarter of Dresden’s results in 2014. Foreign currency translation favorably impacted the year-over-year net sales comparison by $6.0 million.

Composite Fibers’ second-quarter 2014 operating income increased $0.9 million to $17.3 million. Selling prices were down $3.4 million due to increased market competition for wallcover and metalized products. A full quarter of shipments from the Dresden acquisition and a positive mix shift improved operating income by $2.6 million. Improved operating efficiencies and lower input costs combined benefited earnings by $1.4 million.

Advanced Airlaid Materials’ net sales totaled $70.5 million, a $4.0 million, or 6.1%, increase compared to the second quarter of 2013. The increase was primarily due to a 4.0% increase in shipping volumes. Foreign currency translation favorably impacted the year-over-year net sales comparison by $2.0 million.

Second quarter 2014 operating income increased $0.9 million, or 17.4%, compared with the year-ago quarter, primarily due to higher shipments of hygiene products and $0.7 million from currency translation. These favorable factors were partially offset by cost inflation and higher freight costs to meet North American customer demand from our European facility.

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GLATFELTER

6.30.14 Form 10-Q

In the Specialty Papers business unit, net sales increased $0.9 million, or 0.4 percent primarily due to a $6.0 million benefit from higher average selling prices offset by lower shipping volumes.

For the second quarter of 2014, Specialty Papers’ operating loss increased to $7.2 million compared with a loss of $3.9 million in the second quarter of 2013. We completed annually scheduled maintenance outages at our Chillicothe, OH and Spring Grove, PA facilities which adversely impacted results by $27.6 million and $21.7 million in the second quarters of 2014 and 2013, respectively, reflecting a $5.9 million increase for a broader scope of work. In addition, higher prices for raw materials and energy negatively impacted operating results by $1.7 million.

We sell excess power generated by the Spring Grove, PA facility. The following table summarizes this activity for the second quarters of 2014 and 2013:

	Three months ended June 30
In thousands	2014			2013			Change
Energy sales	$	1,880		$	2,082		$	(202	)
Costs to produce		(1,428	)		(1,900	)		472
Net		452			182			270
Renewable energy credits		338			242			96
Total	$	790		$	424		$	366

Renewable energy credits (“RECs”) represent sales of certified credits earned related to burning renewable sources of energy such as black liquor and wood waste. We sell RECs into an emerging and illiquid market. The extent and value of future revenues from REC sales is dependent on many factors outside of management’s control. Therefore, we may not be able to generate consistent additional sales of RECs in future periods.

Other and Unallocated The amount of net operating expenses not allocated to a business unit and reported as “Other and Unallocated” in our table of Business Unit Performance, totaled $5.6 million in the second quarter of 2014 compared with $11.5 million in the second quarter of 2013. Excluding the impact of sales of timberlands in the comparison, unallocated net operating expenses decreased $4.4 million primarily due to lower acquisition related costs and pension expense.

Pension Expense The following table summarizes the amounts of pension expense recognized for the periods indicated:

	Three months ended June 30
In thousands	2014		2013		Change
Recorded as:
Costs of products sold	$	1,687	$	2,932	$	(1,245	)
SG&A expense		130		282		(152	)
Total	$	1,817	$	3,214	$	(1,397	)

The amount of pension expense recognized each year is dependent on various actuarial assumptions and certain other factors, including discount rates and the fair value of our pension assets. Pension expense in 2014 is expected to be approximately $6.7 million compared with $14.2 million in 2013. The decrease is primarily due to higher discount rates and the impact of amortizing deferred actuarial gains from higher returns on assets in 2013.

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GLATFELTER

6.30.14 Form 10-Q

Income taxes For the second quarter of 2014, we recorded a provision for income taxes of $1.3 million on pretax income of $6.0 million The comparable amounts in the second quarter of 2013 were income tax expense of $1.1 million on $2.0 million of pretax income. The effective tax rate in the second quarter of 2014 reflects a greater proportion of earnings generated in lower tax foreign jurisdictions relative to the U.S. In the second quarter of 2013, the effective tax rate reflects the impact of non-deductible acquisition related costs.

Foreign Currency We own and operate facilities in Canada, Germany, France, the United Kingdom and the Philippines. The functional currency of our Canadian operations is the U.S. dollar. However, in Germany and France it is the Euro, in the UK, it is the British Pound Sterling, and in the Philippines the functional currency is the Peso. During the second quarter of 2014, Euro functional currency operations generated approximately 32.9% of our sales and 29.8% of operating expenses and British Pound Sterling operations represented 6.4% of net sales and 5.7% of operating expenses. The translation of the results from international operations into U.S. dollars is subject to changes in foreign currency exchange rates.

The table below summarizes the translation impact on reported results that changes in currency exchange rates had on our non-U.S. based operations from the conversion of these operation’s results for the second quarter of 2014 compared to the second quarter of 2013:

In thousands	Three months ended June  30, 2014
	Favorable (unfavorable)
Net sales	$	8,003
Costs of products sold		(5,705	)
SG&A expenses		(619	)
Income taxes and other		(473	)
Net income	$	1,206

The above table only presents the financial reporting impact of foreign currency translations assuming currency exchange rates in 2014 were the same as 2013. It does not present the impact of certain competitive advantages or disadvantages of operating or competing in multi-currency markets.

LIQUIDITY AND CAPITAL RESOURCES

Our business is capital intensive and requires significant expenditures for new or enhanced equipment, to support our research and development efforts, for environmental compliance matters including, but not limited to, the Clean Air Act, and to support our business strategy. In addition, we have mandatory debt service requirements of both principal and interest. The following table summarizes cash flow information for each of the periods presented:

	Six months ended June 30
In thousands	2014			2013
Cash and cash equivalents at beginning of period	$	122,882		$	97,679
Cash provided (used) by
Operating activities		(21,366	)		48,227
Investing activities		(27,896	)		(271,867	)
Financing activities		(45,563	)		171,234
Effect of exchange rate changes on cash		(41	)		(518	)
Net cash used		(94,866	)		(52,924	)
Cash and cash equivalents at end of period	$	28,016		$	44,755

At June 30, 2014, we had $28.0 million in cash and cash equivalents held by both domestic and foreign subsidiaries. Although unremitted earnings of our foreign subsidiaries are deemed to be permanently reinvested, all of the cash and cash equivalents is available for use domestically. In addition to our cash and cash equivalents, $182.3 million is available under our revolving credit agreement, which matures in November 2016.

Cash flow used by operating activities in the first six months of 2014 totaled $21.4 million compared with $48.2 million provided from operations in the same period a year ago. The year-over-year comparison primarily reflects an increase in working capital usage, primarily related to an increase in inventory and reduction of accounts payable, higher tax payments and payment of customer incentives earned at Dresden.

Net cash used by investing activities declined by $244.0 million in the comparison of the first six months of 2014 to the first six months of 2013. Excluding $210.9 million of cash used in 2013 to acquire Dresden, cash used for investing activities declined in the comparison by $33.1 million primarily due to lower capital expenditures. Through the first six months of 2014, capital expenditures totaled $30.2 million compared with $60.8 million in the same period of 2013. The prior year amount included $25.6 million related to the Composite Fibers capacity expansion project. Capital expenditures for all of 2014 are expected to be approximately $80 million to $90 million compared to $103.0 million for the year ended December 31, 2013.

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GLATFELTER

6.30.14 Form 10-Q

Net cash used by financing activities totaled $45.6 million in the first six months of 2014 reflecting cash used to reduce revolving credit facility borrowings, common stock repurchases and dividends. In the same period of 2013, $171.2 million of cash was provided by financing activities primarily reflecting borrowings to fund the Dresden acquisition partially offset by dividends paid on common stock.

The following table sets forth our outstanding long-term indebtedness:

In thousands	June 30 2014			December 31 2013
Revolving credit facility, due Nov. 2016	$	107,153		$	133,540
5.375% Notes, due Oct. 2020		250,000			250,000
2.05% Term Loan, due Mar. 2023		58,285			58,785
Total long-term debt		415,438			442,325
Less current portion		(1,821	)		—
Long-term debt, net of current portion	$	413,617		$	442,325

Our revolving credit facility contains a number of customary compliance covenants, the most restrictive of which is a maximum leverage ratio of 3.5x. As of June 30, 2014, the leverage ratio, as calculated in accordance with the definition in our credit agreement, was 2.44x, within the limits set forth in our credit agreement. Based on our expectations of future results of operations and capital needs, we do not believe the debt covenants will impact our operations or limit our ability to undertake financings that may be necessary to meet our capital needs.

The 5.375% Notes contain cross default provisions that could result in all such notes becoming due and payable in the event of a failure to repay debt outstanding under the credit agreement at maturity, or a default under the credit agreement that accelerates the debt outstanding thereunder. As of June 30, 2014, we met all of the requirements of our debt covenants. The significant terms of the debt instruments are more fully discussed in Item 1—Financial Statements – Note 11.

Cash used for financing activities includes cash used for common stock dividends and to repurchase stock. In 2014, our Board of Directors authorized a 10% increase in our quarterly cash dividend. In the first six months of 2014, we used $9.2 million of cash for dividends on our common stock compared with $8.2 million in the first six months of 2013. The Board of Directors determines what, if any, dividends will be paid to our shareholders. Dividend payment decisions are based upon then-existing factors and conditions and, therefore, historical trends of dividend payments are not necessarily indicative of future payments.

Cash used for common share repurchases totaled $9.2 million in the first six months of 2014. On May 1, 2014, the Company announced that its Board of Directors approved a $25 million increase to the share repurchase program and extended the expiration date to May 1, 2016. Under the revised program, the Company may repurchase up to $50 million of its outstanding common stock. The following table summarizes share repurchases made under this program through June 30, 2014:

	shares		(thousands)
Authorized amount		n/a	$	50,000
Repurchases		651,419		(14,006	)
Remaining authorization			$	35,994

The total repurchases set forth above includes 360,299 shares at a cost of $9.5 million completed in the first half of 2014. No shares were repurchased in the first half of 2013.

We are subject to various federal, state and local laws and regulations intended to protect the environment as well as human health and safety. At various times, we have incurred significant costs to comply with these regulations and we could incur additional costs as new regulations are developed or regulatory priorities change. As a result of new air quality regulations including the U.S. EPA Best Available Retrofit Technology rule (BART; otherwise known as the Regional Haze Rule) and the Boiler Maximum Achievable Control Technology rule (Boiler MACT), we anticipate that we could incur material capital and operating costs. Recently issued rules will require process modifications and/or installation of air pollution controls on power boilers at two of our facilities. The cost of compliance is likely to be significant. Our current estimate to implement viable options could result in capital spending of between $70 million to $95 million depending on the solutions available to comply with the regulations. However, the amount of capital spending ultimately incurred may differ, and the difference could be material. In addition, the timing of such capital spending is uncertain, although we currently expect to incur the majority of expenditures generally between the second half of 2014 and 2016. Enactment of new environmental laws or regulations or changes in existing laws or regulations could significantly change our estimates.

In addition, we may incur obligations to remove or mitigate any adverse effects on the environment resulting from our operations, including the restoration of natural resources and liability for personal injury and for damages to property and natural resources. See Item 1 – Financial Statements – Note 16 for a summary of significant environmental matters.

We expect to meet all of our near- and longer-term cash needs from a combination of operating cash flow, cash and cash equivalents, our credit facility or other bank lines of credit and other long-term debt. However, as discussed in Item 1 – Financial Statements – Note 16, an unfavorable outcome of various environmental matters could have a material adverse impact on our consolidated financial position, liquidity and/or results of operations.

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GLATFELTER

6.30.14 Form 10-Q

Off-Balance-Sheet Arrangements As of June 30, 2014 and December 31, 2013, we had not entered into any off-balance-sheet arrangements. Financial derivative instruments, to which we are a party, and guarantees of indebtedness, which solely consist of obligations of subsidiaries and a partnership, are reflected in the condensed consolidated balance sheets included herein in Item 1 – Financial Statements.

Outlook In the third quarter of 2014, Composite Fibers’ shipping volumes are expected to be slightly higher than the second quarter of 2014. Selling prices and raw material and energy costs are expected to be in line with the second quarter of 2014.

Shipping volumes for Advanced Airlaid Materials in the third quarter of 2014 are expected to be slightly higher than the second quarter of 2014. Average raw material prices are expected to be slightly higher than the second quarter of 2014 resulting in higher selling prices consistent with our pass- through arrangements.

For Specialty Papers, shipping volumes in the third quarter of 2014 are expected to be approximately 5% higher than the second quarter of 2014 reflecting normal seasonal patterns. Overall selling prices are expected to be slightly higher in the third quarter as previously announced price increases are implemented. Input costs are expected to be in-line with the second quarter of 2014.

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GLATFELTER

6.30.14 Form 10-Q

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISKS

	Year Ended December 31															June 30, 2014
Dollars in thousands	2014			2015			2016			2017			2018			Carrying Value		Fair Value
Long-term debt
Average principal outstanding
At fixed interest rates – Bond	$	250,000		$	250,000		$	250,000		$	250,000		$	250,000		$	250,000	$	264,244
At fixed interest rates – Term Loan		58,285			57,193			51,000			43,714			36,428			58,285		58,224
At variable interest rates		107,153			107,153			95,410			—			—			107,153		107,153
																$	415,438	$	429,621
Weighted-average interest rate
On fixed rate debt – Bond		5.375	%		5.375	%		5.375	%		5.375	%		5.375	%
On fixed rate debt – Term Loan		2.05	%		2.05	%		2.05	%		2.05	%		2.05	%
On variable rate debt		1.83	%		1.83	%		1.83	%		—			—

The table above presents the average principal outstanding and related interest rates for the next five years for debt outstanding as of June 30, 2014. Fair values included herein have been determined based upon rates currently available to us for debt with similar terms and remaining maturities.

Our market risk exposure primarily results from changes in interest rates and currency exchange rates. At June 30, 2014, we had $415.4 million of long-term debt, of which 25.8% is at variable interest rates. Variable-rate debt outstanding represents borrowings under our revolving credit agreement that accrues interest based on one month LIBOR plus a margin. At June 30, 2014, the interest rate paid was approximately 1.83%. A hypothetical 100 basis point increase or decrease in the interest rate on variable rate debt would increase or decrease annual interest expense by $1.1 million.

As part of our overall risk management practices, we enter into financial derivatives primarily designed to either i) hedge foreign currency risks associated with forecasted transactions – “cash flow hedges”; or ii) mitigate the impact that changes in currency exchange rates have on intercompany financing transactions and foreign currency denominated receivables and payables – “foreign currency hedges.” For a more complete discussion of this activity, refer to Item 1 – Financial Statements – Note 14.

We are subject to certain risks associated with changes in foreign currency exchange rates to the extent our operations are conducted in currencies other than the U.S. Dollar. During the first six months of 2014, Euro functional currency operations generated approximately 33.4% of our sales and 30.0% of operating expenses and British Pound Sterling operations represented 6.1% of net sales and 5.5% of operating expenses.

ITEM 4. CONTROLS AND PROCEDURES

Evaluation of Disclosure Controls and Procedures Our chief executive officer and our principal financial officer, after evaluating the effectiveness of our disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) as of June 30, 2014, have concluded that, as of the evaluation date, our disclosure controls and procedures are effective.

Changes in Internal Controls There were no changes in our internal control over financial reporting during the three months ended June 30, 2014, that have materially affected or are reasonably likely to materially affect our internal control over financial reporting.

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GLATFELTER

6.30.14 Form 10-Q

PART II

ITEM 6. EXHIBITS

The following exhibits are filed herewith or incorporated by reference as indicated.

31.1	Certification of Dante C. Parrini, Chairman and Chief Executive Officer of Glatfelter, pursuant to Section 302(a) of the Sarbanes-Oxley Act of 2002.
31.2	Certification of John P. Jacunski, Executive Vice President and Chief Financial Officer of Glatfelter, pursuant to Section 302(a) of the Sarbanes-Oxley Act of 2002.
32.1	Certification of Dante C. Parrini, Chairman and Chief Executive Officer of Glatfelter, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, 18 U.S.C. Section 1350.
32.2	Certification of John P. Jacunski, Executive Vice President and Chief Financial Officer of Glatfelter, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, 18 U.S.C. Section 1350.
101.INS	XBRL Instance Document, filed herewith
101.SCH	XBRL Taxonomy Extension Schema, filed herewith
101.CAL	XBRL Extension Calculation Linkbase, filed herewith
101.DEF	XBRL Extension Definition Linkbase, filed herewith
101.LAB	XBRL Extension Label Linkbase, filed herewith
101.PRE	XBRL Extension Presentation Linkbase, filed herewith

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	P. H. GLATFELTER COMPANY
	(Registrant)
August 4, 2014
	By	/s/ David C. Elder
		David C. Elder
		Vice President, Finance

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GLATFELTER

6.30.14 Form 10-Q

EXHIBIT INDEX

Exhibit Number	Description
31.1	Certification of Dante C. Parrini, Chairman and Chief Executive Officer of Glatfelter, pursuant to Section 302(a) of the Sarbanes-Oxley Act of 2002, 18 U.S.C. Section 1350 – Chief Executive Officer, filed herewith.
31.2	Certification of John P. Jacunski, Executive Vice President and Chief Financial Officer of Glatfelter, pursuant to Section 302(a) of the Sarbanes-Oxley Act of 2002 – Chief Financial Officer, filed herewith.
32.1	Certification of Dante C. Parrini, Chairman and Chief Executive Officer of Glatfelter, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 – Chief Executive Officer, filed herewith.
32.2	Certification of John P. Jacunski, Executive Vice President and Chief Financial Officer of Glatfelter, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, 18 U.S.C. Section 1350 – Chief Financial Officer, filed herewith.
101.INS	XBRL Instance Document, filed herewith
101.SCH	XBRL Taxonomy Extension Schema, filed herewith
101.CAL	XBRL Extension Calculation Linkbase, filed herewith
101.DEF	XBRL Extension Definition Linkbase, filed herewith
101.LAB	XBRL Extension Label Linkbase, filed herewith
101.PRE	XBRL Extension Presentation Linkbase, filed herewith

- 41 -

GLATFELTER

6.30.14 Form 10-Q

EX-31.1

EXHIBIT 31.1

CERTIFICATION PURSUANT TO SECTION 302 (a) OF THE SARBANES-OXLEY ACT OF 2002

I, Dante C. Parrini certify that:

1. I have reviewed this Quarterly Report on Form 10-Q for the quarter ended June 30, 2014 of P. H. Glatfelter Company (“Glatfelter”);

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report.

4. Glatfelter’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for Glatfelter and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to Glatfelter, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of Glatfelter’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in Glatfelter’s internal control over financial reporting that occurred during Glatfelter’s most recent fiscal quarter (the fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, Glatfelter’s internal control over financial reporting.

5. Glatfelter’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to Glatfelter’s auditors and the audit committee of Glatfelter’s board of directors (or persons performing similar functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect Glatfelter’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in Glatfelter’s internal control over financial reporting.

August 4, 2014

By	/s/ Dante C. Parrini
	Dante C. Parrini
	Chairman and Chief Executive Officer

EX-31.2

EXHIBIT 31.2

CERTIFICATION PURSUANT TO SECTION 302 (a) OF THE SARBANES-OXLEY ACT OF 2002

I, John P. Jacunski certify that:

1. I have reviewed this Quarterly Report on Form 10-Q for the quarter ended June 30, 2014 of P. H. Glatfelter Company (“Glatfelter”);

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report.

4. Glatfelter’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for Glatfelter and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to Glatfelter, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of Glatfelter’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in Glatfelter’s internal control over financial reporting that occurred during Glatfelter’s most recent fiscal quarter (the fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, Glatfelter’s internal control over financial reporting.

5. Glatfelter’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to Glatfelter’s auditors and the audit committee of Glatfelter’s board of directors (or persons performing similar functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect Glatfelter’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in Glatfelter’s internal control over financial reporting.

August 4, 2014

By	/s/ John P. Jacunski
	John P. Jacunski
	Executive Vice President and Chief Financial Officer

EX-32.1

EXHIBIT 32.1

CERTIFICATION PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002 18 U.S.C. SECTION 1350

In connection with the Quarterly Report on Form 10-Q for the quarter ended June 30, 2014, of P. H. Glatfelter Company (the “Company”) as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Dante C. Parrini, Chairman and Chief Executive Officer of the Company, certify to the best of my knowledge, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, 18 U.S.C. Section 1350, that:

1) The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

A signed original of this written statement required by Section 906 has been provided to Glatfelter and will be retained by Glatfelter and furnished to the Securities and Exchange Commission or its staff upon request.

August 4, 2014

By	/s/ Dante C. Parrini
	Dante C. Parrini
	Chairman and Chief Executive Officer

EX-32.2

EXHIBIT 32.2

CERTIFICATION PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002 18 U.S.C. SECTION 1350

In connection with the Quarterly Report on Form 10-Q for the quarter ended June 30, 2014, of P. H. Glatfelter Company (the “Company”) as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, John P. Jacunski, Executive Vice President and Chief Financial Officer of the Company, certify to the best of my knowledge, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, 18 U.S.C. Section 1350, that:

1) The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

A signed original of this written statement required by Section 906 has been provided to Glatfelter and will be retained by Glatfelter and furnished to the Securities and Exchange Commission or its staff upon request.

August 4, 2014

By	/s/ John P. Jacunski
	John P. Jacunski
	Executive Vice President and Chief Financial Officer

XML

Segment Information (Tables)

6 Months Ended

Jun. 30, 2014

Segment Reporting [Abstract]

Schedule of Financial and Other Information by Business Unit

The following tables sets forth financial and other information by business unit for the period indicated:

Three months ended June 30 Dollars in millions	Composite Fibers				Advanced Airlaid Materials				Specialty Papers						Other and Unallocated						Total
	2014		2013		2014		2013		2014			2013			2014			2013			2014			2013
Net sales	$	157.0	$	142.6	$	70.5	$	66.4	$	217.9		$	217.0		$	—		$	—		$	445.3		$	426.0
Energy and related sales, net		—		—		—		—		0.8			0.4			—			—			0.8			0.4
Total revenue		157.0		142.6		70.5		66.4		218.7			217.4			—			—			446.1			426.4
Cost of products sold		126.9		114.6		62.0		58.8		214.1			207.9			1.7			4.2			404.7			385.6
Gross profit (loss)		30.1		27.9		8.5		7.6		4.6			9.5			(1.7	)		(4.2	)		41.4			40.8
SG&A		12.8		11.5		2.3		2.4		11.8			13.4			5.4			7.3			32.3			34.5
Gains on dispositions of plant, equipment and timberlands, net		—		—		—		—		—			—			(1.5	)		—			(1.5	)		—
Total operating income (loss)		17.3		16.4		6.2		5.2		(7.2	)		(3.9	)		(5.6	)		(11.5	)		10.6			6.3
Non-operating expense		—		—		—		—		—			—			(4.6	)		(4.3	)		(4.6	)		(4.3	)
Income (loss) before income taxes	$	17.3	$	16.4	$	6.2	$	5.2	$	(7.2	)	$	(3.9	)	$	(10.2	)	$	(15.8	)	$	6.0		$	2.0
Supplementary Data
Net tons sold (thousands)		39.4		35.0		24.6		23.7		190.7			195.7			—			—			254.8			254.4
Depreciation, depletion and amortization	$	7.6	$	5.9	$	2.3	$	2.2	$	7.9		$	8.3		$	0.5		$	0.2		$	18.3		$	16.7
Capital expenditures		5.4		18.8		1.4		1.9		8.6			8.2			0.3			0.6			15.7			29.4
Six months ended June 30 Dollars in millions	Composite Fibers				Advanced Airlaid Materials				Specialty Papers						Other and Unallocated						Total
	2014		2013		2014		2013		2014			2013			2014			2013			2014			2013
Net sales	$	315.6	$	254.4	$	141.8	$	132.7	$	443.7		$	444.1		$	—		$	—		$	901.1		$	831.2
Energy and related sales, net		—		—		—		—		6.1			1.5			—			—			6.1			1.5
Total revenue		315.6		254.4		141.8		132.7		449.8			445.6			—			—			907.1			832.7
Cost of products sold		252.9		205.0		125.1		118.4		429.1			403.4			3.5			7.7			810.6			734.5
Gross profit (loss)		62.7		49.4		16.7		14.3		20.7			42.3			(3.5	)		(7.7	)		96.5			98.2
SG&A		26.1		21.3		4.7		4.5		25.5			27.9			9.6			14.3			65.9			68.0
Gains on dispositions of plant, equipment and timberlands, net		—		—		—		—		—			—			(2.3	)		(0.1	)		(2.3	)		(0.1	)
Total operating income (loss)		36.6		28.1		12.0		9.8		(4.8	)		14.4			(10.8	)		(21.9	)		32.9			30.3
Non-operating expense		—		—		—		—		—			—			(9.2	)		(7.8	)		(9.2	)		(7.8	)
Income (loss) before income taxes	$	36.6	$	28.1	$	12.0	$	9.8	$	(4.8	)	$	14.4		$	(20.0	)	$	(29.7	)	$	23.7		$	22.5
Supplementary Data
Net tons sold (thousands)		79.4		57.6		49.7		47.6		392.9			398.0			—			—			522.1			503.2
Depreciation, depletion and amortization	$	15.3	$	10.6	$	4.6	$	4.4	$	16.1		$	16.6		$	0.9		$	0.4		$	36.9		$	32.0
Capital expenditures		11.4		36.2		2.9		4.0		14.8			16.8			1.1			3.8			30.2			60.8

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Stock-Based Compensation - Compensation Expense for Stock Option Activity (Detail) (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Restricted Stock Units (RSU) and Performance Share Awards (PSAs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense	$ 441	$ 604	$ 1,020	$ 1,324
Stock Only Stock Appreciation Rights (SOSARs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense	$ 559	$ 415	$ 1,008	$ 800

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Accumulated Other Comprehensive Income - Schedule of Amounts Reclassifications Out of Accumulated Other Comprehensive Income (Detail) (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Defined Benefit Plan Disclosure [Line Items]
Costs of products sold	$ (404,694)	$ (385,551)	$ (810,637)	$ (734,466)
Selling, general and administrative	(32,314)	(34,528)	(65,865)	(68,015)
Income tax provision	(1,287)	(1,105)	(4,397)	(5,945)
Reclassifications Out of Accumulated Other Comprehensive Income [Member]
Defined Benefit Plan Disclosure [Line Items]
Net of tax	2,941	3,909	5,581	7,787
Reclassifications Out of Accumulated Other Comprehensive Income [Member] | Amortization of Deferred Benefit Pension Plan Items [Member]
Defined Benefit Plan Disclosure [Line Items]
Before tax	3,935	5,959	7,609	12,022
Income tax provision	(1,491)	(2,234)	(2,884)	(4,518)
Net of tax	2,444	3,725	4,725	7,504
Reclassifications Out of Accumulated Other Comprehensive Income [Member] | Amortization of Deferred Benefit Pension Plan Items [Member] | Prior Service Costs [Member]
Defined Benefit Plan Disclosure [Line Items]
Costs of products sold	695	613	1,243	1,226
Selling, general and administrative	226	161	412	322
Reclassifications Out of Accumulated Other Comprehensive Income [Member] | Amortization of Deferred Benefit Pension Plan Items [Member] | Actuarial Losses [Member]
Defined Benefit Plan Disclosure [Line Items]
Costs of products sold	2,233	4,025	4,429	8,139
Selling, general and administrative	781	1,160	1,525	2,335
Reclassifications Out of Accumulated Other Comprehensive Income [Member] | Amortization of Deferred Benefit Other Plan Items [Member]
Defined Benefit Plan Disclosure [Line Items]
Before tax	57	77	114	154
Income tax provision	(22)	(29)	(44)	(58)
Net of tax	35	48	70	96
Reclassifications Out of Accumulated Other Comprehensive Income [Member] | Amortization of Deferred Benefit Other Plan Items [Member] | Prior Service Costs [Member]
Defined Benefit Plan Disclosure [Line Items]
Costs of products sold	(59)	(100)	(118)	(200)
Selling, general and administrative	(13)	(25)	(26)	(50)
Reclassifications Out of Accumulated Other Comprehensive Income [Member] | Amortization of Deferred Benefit Other Plan Items [Member] | Actuarial Losses [Member]
Defined Benefit Plan Disclosure [Line Items]
Costs of products sold	106	155	212	310
Selling, general and administrative	23	47	46	94
Reclassifications Out of Accumulated Other Comprehensive Income [Member] | Cash Flow Hedges [Member] | (Gains) Losses on Cash Flow Hedges [Member]
Defined Benefit Plan Disclosure [Line Items]
Costs of products sold	641	188	1,090	258
Income tax provision	(179)	(52)	(304)	(71)
Net of tax	$ 462	$ 136	$ 786	$ 187

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Financial Derivatives and Hedging Activities - Fair Value Amounts Recorded as Component of Accumulated Other Comprehensive Income (Detail) (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Balance at January 1,	$ (1,296)	$ (599)
Deferred (losses) gains on cash flow hedges	292	(177)
Reclassified to earnings	1,090	258
Balance at June 30,	$ 86	$ (518)

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Stock-Based Compensation - Schedule of Information Related to Outstanding SOSARS (Detail) (Stock Only Stock Appreciation Rights (SOSARs) [Member], USD $) In Thousands, except Share data, unless otherwise specified	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Stock Only Stock Appreciation Rights (SOSARs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Beginning Balance, Outstanding	1,977,133	2,121,454
Granted	275,529	361,923
Exercised	(19,199)	(435,562)
Canceled / forfeited	(24,719)	(73,901)
Ending Balance, Outstanding	2,208,744	1,973,914
Beginning Balance, Weighted Average Exercise Price, Outstanding	$ 13.91	$ 12.93
Weighted Average Exercise Price, Granted	$ 29.89	$ 18.36
Weighted Average Exercise Price, Exercised	$ 15.57	$ 12.63
Weighted Average Exercise Price, Canceled / forfeited	$ 18.85	$ 16.25
Ending Balance, Weighted Average Exercise Price, Outstanding	$ 15.83	$ 13.87
Weighted average grant date fair value per share	$ 9.85	$ 5.64
Aggregate grant date fair value	$ 2,713	$ 2,042
Black-Scholes assumptions
Dividend yield	1.47%	2.18%
Risk free rate of return	1.73%	0.99%
Volatility	37.59%	39.62%
Expected life	6 years	6 years

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Condensed Consolidating Financial Statements - Condensed Consolidating Balance Sheet (Detail) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013	Jun. 30, 2013	Dec. 31, 2012
Assets
Cash and cash equivalents	$ 28,016	$ 122,882	$ 44,755	$ 97,679
Other current assets	513,729	463,700
Plant, equipment and timberlands, net	719,819	723,340
Other assets	368,543	368,488
Total assets	1,630,107	1,678,410
Liabilities and Shareholders' Equity
Current liabilities	263,807	288,367
Long-term debt	413,617	442,325
Deferred income taxes	140,005	141,020
Other long-term liabilities	120,095	122,222
Total liabilities	937,524	993,934
Shareholders' equity	692,583	684,476
Total liabilities and shareholders' equity	1,630,107	1,678,410
Adjustments/ Eliminations [Member]
Assets
Other current assets	(366,211)	(326,045)
Other assets	(1,097,027)	(1,055,972)
Total assets	(1,463,238)	(1,382,017)
Liabilities and Shareholders' Equity
Current liabilities	(374,307)	(337,878)
Long-term debt	(318,069)	(320,795)
Deferred income taxes	(9,465)	(8,319)
Other long-term liabilities	3,003	3,409
Total liabilities	(698,838)	(663,583)
Shareholders' equity	(764,400)	(718,434)
Total liabilities and shareholders' equity	(1,463,238)	(1,382,017)
Parent Company [Member]
Assets
Cash and cash equivalents	9,411	56,216	10,695	43,781
Other current assets	225,862	208,814
Plant, equipment and timberlands, net	249,508	247,243
Other assets	1,021,078	973,748
Total assets	1,505,859	1,486,021
Liabilities and Shareholders' Equity
Current liabilities	385,613	375,535
Long-term debt	250,000	250,000
Deferred income taxes	73,380	70,989
Other long-term liabilities	104,283	105,021
Total liabilities	813,276	801,545
Shareholders' equity	692,583	684,476
Total liabilities and shareholders' equity	1,505,859	1,486,021
Guarantors [Member]
Assets
Cash and cash equivalents	179	501	67	4,278
Other current assets	335,537	327,152
Plant, equipment and timberlands, net	997	1,054
Other assets	234,602	236,411
Total assets	571,315	565,118
Liabilities and Shareholders' Equity
Current liabilities	5,435	2,855
Deferred income taxes	207	(283)
Total liabilities	5,642	2,572
Shareholders' equity	565,673	562,546
Total liabilities and shareholders' equity	571,315	565,118
Non Guarantors [Member]
Assets
Cash and cash equivalents	18,426	66,165	33,993	49,620
Other current assets	318,541	253,779
Plant, equipment and timberlands, net	469,314	475,043
Other assets	209,890	214,301
Total assets	1,016,171	1,009,288
Liabilities and Shareholders' Equity
Current liabilities	247,066	247,855
Long-term debt	481,686	513,120
Deferred income taxes	75,883	78,633
Other long-term liabilities	12,809	13,792
Total liabilities	817,444	853,400
Shareholders' equity	198,727	155,888
Total liabilities and shareholders' equity	$ 1,016,171	$ 1,009,288

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Earnings Per Share - Number of Potential Common Shares that have been Excluded from Computation of Diluted Earnings Per Share for Indicated Period Due to Their Anti-Dilutive Nature (Detail)	3 Months Ended	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2014
Earnings Per Share [Abstract]
Potential common shares	279	273

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Inventories (Tables)

6 Months Ended

Jun. 30, 2014

Inventory Disclosure [Abstract]

Inventories, Net of Reserves

Inventories, net of reserves, were as follows:

In thousands	June 30 2014		December 31 2013
Raw materials	$	66,232	$	59,440
In-process and finished		123,350		109,578
Supplies		68,250		67,292
Total	$	257,832	$	236,310

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Condensed Consolidating Financial Statements - Condensed Consolidating Statement of Cash Flows (Detail) (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided (used) by Operating activities	$ (21,366)	$ 48,227
Investing activities
Expenditures for purchases of plant, equipment and timberlands	(30,156)	(60,823)
Proceeds from disposal plant, equipment and timberlands, net	2,360	92
Repayments from intercompany loans		0
Advances of intercompany loans	0	0
Intercompany capital contributed		0
Acquisitions, net of cash acquired	0	(210,911)
Other	(100)	(225)
Net cash used by investing activities	(27,896)	(271,867)
Financing activities
Net (repayments of) proceeds from indebtedness	(25,425)	182,230
Payments of note offering costs	0	(419)
Payment of dividends to shareholders	(9,164)	(8,245)
Repayments of intercompany loans		0
Repurchases of common stock	(9,158)
Borrowings of intercompany loans	0	0
Intercompany capital received		0
Payments related to share-based compensation awards and other	(1,816)	(2,332)
Net cash (used) provided by financing activities	(45,563)	171,234
Effect of exchange rate on cash	(41)	(518)
Net decrease in cash and cash equivalents	(94,866)	(52,924)
Cash and cash equivalents at the beginning of period	122,882	97,679
Cash and cash equivalents at the end of period	28,016	44,755
Adjustments/ Eliminations [Member]
Investing activities
Repayments from intercompany loans		(28,750)
Advances of intercompany loans	3,450	36,057
Intercompany capital contributed		91
Net cash used by investing activities	3,450	7,398
Financing activities
Repayments of intercompany loans		28,750
Borrowings of intercompany loans	(3,450)	(36,057)
Intercompany capital received		(91)
Net cash (used) provided by financing activities	(3,450)	(7,398)
Parent Company [Member]
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided (used) by Operating activities	(15,054)	13,825
Investing activities
Expenditures for purchases of plant, equipment and timberlands	(15,963)	(20,618)
Proceeds from disposal plant, equipment and timberlands, net	1,000	89
Advances of intercompany loans		(1,000)
Other	(100)	(225)
Net cash used by investing activities	(15,063)	(21,754)
Financing activities
Payments of note offering costs		(160)
Payment of dividends to shareholders	(9,164)	(8,245)
Repayments of intercompany loans		(14,750)
Repurchases of common stock	(9,158)
Borrowings of intercompany loans	3,450	330
Payments related to share-based compensation awards and other	(1,816)	(2,332)
Net cash (used) provided by financing activities	(16,688)	(25,157)
Net decrease in cash and cash equivalents	(46,805)	(33,086)
Cash and cash equivalents at the beginning of period	56,216	43,781
Cash and cash equivalents at the end of period	9,411	10,695
Guarantors [Member]
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided (used) by Operating activities	1,773	2,187
Investing activities
Proceeds from disposal plant, equipment and timberlands, net	1,355
Repayments from intercompany loans		28,750
Advances of intercompany loans	(3,450)	(35,057)
Intercompany capital contributed		(91)
Net cash used by investing activities	(2,095)	(6,398)
Financing activities
Net decrease in cash and cash equivalents	(322)	(4,211)
Cash and cash equivalents at the beginning of period	501	4,278
Cash and cash equivalents at the end of period	179	67
Non Guarantors [Member]
Condensed Cash Flow Statements, Captions [Line Items]
Net cash provided (used) by Operating activities	(8,085)	32,215
Investing activities
Expenditures for purchases of plant, equipment and timberlands	(14,193)	(40,205)
Proceeds from disposal plant, equipment and timberlands, net	5	3
Acquisitions, net of cash acquired		(210,911)
Net cash used by investing activities	(14,188)	(251,113)
Financing activities
Net (repayments of) proceeds from indebtedness	(25,425)	182,230
Payments of note offering costs		(259)
Repayments of intercompany loans		(14,000)
Borrowings of intercompany loans		35,727
Intercompany capital received		91
Net cash (used) provided by financing activities	(25,425)	203,789
Effect of exchange rate on cash	(41)	(518)
Net decrease in cash and cash equivalents	(47,739)	(15,627)
Cash and cash equivalents at the beginning of period	66,165	49,620
Cash and cash equivalents at the end of period	$ 18,426	$ 33,993

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Commitments, Contingencies and Legal Proceedings - Additional Information (Detail) (USD $)	0 Months Ended		1 Months Ended	6 Months Ended		1 Months Ended
	Mar. 26, 2014 Decree	May 01, 2013 Defendant	Oct. 31, 2010 Defendant	Jun. 30, 2014 Participants Operable_Unit Entity	Nov. 30, 2007 Little Lake Butte Des Morts [Member] site	Nov. 30, 2007 Appvion [Member] site
Commitments Contingencies And Litigation [Line Items]
Aggregate of response actions, response costs and NRDs				$ 1,000,000,000
Number of entities				7
Number of operable units				5
Number of respondents directing to implement the cleanup of the Site downstream					7
Number of respondents not liable for this site						1
Cost of response incurred by government				4,280,000
Number of defendants			13
Number of other defendants to recover injunctions		3
Number of additional defendants entered into agreements		3
Number of proposed consent decrees	3
Cash settlement amount	56,600,000
Reasonable outside estimate for cost of remediation made by Government to all parties				1,500,000,000
Estimated future cost of work yet to be done				360,000,000
Annual estimated cost rate seek by Government				70,000,000
Initial minimum amount of NRD assessment				176,000,000
Initial maximum amount of NRD assessment				333,000,000
Revised minimum amount of NRD assessment				287,000,000
Revised maximum amount of NRD assessment				423,000,000
The limitations period for the NRD claims				3 years
Reserve for environmental liabilities, current portion				100,000
Reserve for claiming liability				16,300,000
Maximum estimated percentage of discharge				27.00%
Number of other PRP entered into interim cost-sharing agreement				6
Maximum estimated cost related to Fox River matter				$ 275,000,000
Period over which estimated cost accrued				10 years

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Inventories - Inventories, Net of Reserves (Detail) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
Inventory Disclosure [Abstract]
Raw materials	$ 66,232	$ 59,440
In-process and finished	123,350	109,578
Supplies	68,250	67,292
Total	$ 257,832	$ 236,310

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Condensed Consolidating Financial Statements - Additional Information (Detail)	Jun. 30, 2014	Oct. 03, 2012
PHG Tea Leaves, Inc. [Member]
Schedule of Equity Method Investments [Line Items]
Percentage owned in domestic subsidiaries	100.00%
Mollanvick, Inc. [Member]
Schedule of Equity Method Investments [Line Items]
Percentage owned in domestic subsidiaries	100.00%
Glatfelter Holdings, LLC [Member]
Schedule of Equity Method Investments [Line Items]
Percentage owned in domestic subsidiaries	100.00%
5.375% Notes [Member]
Schedule of Equity Method Investments [Line Items]
Interest rate on notes guaranteed	5.375%	5.375%

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Condensed Consolidating Financial Statements - Condensed Consolidating Statements of Income and Comprehensive Income (Detail) (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Condensed Income Statements, Captions [Line Items]
Net sales	$ 445,341	$ 425,967	$ 901,062	$ 831,156
Energy and related sales, net	790	424	6,052	1,525
Total revenues	446,131	426,391	907,114	832,681
Costs of products sold	404,694	385,551	810,637	734,466
Gross profit	41,437	40,840	96,477	98,215
Selling, general and administrative expenses	32,314	34,528	65,865	68,015
Gains on dispositions of plant, equipment and timberlands, net	(1,482)	(19)	(2,291)	(92)
Operating income (loss)	10,605	6,331	32,903	30,292
Other non-operating income (expense)
Interest expense	(4,762)	(4,514)	(9,574)	(8,355)
Interest income	52	46	113	148
Other, net	61	175	272	422
Total other non-operating income (expense)	(4,649)	(4,293)	(9,189)	(7,785)
Income (loss) before income taxes	5,956	2,038	23,714	22,507
Income tax provision (benefit)	1,287	1,105	4,397	5,945
Net income	4,669	933	19,317	16,562
Other comprehensive income (loss)	3,026	7,105	5,991	(584)
Comprehensive income (loss)	7,695	8,038	25,308	15,978
Adjustments/ Eliminations [Member]
Condensed Income Statements, Captions [Line Items]
Net sales	(5)	(8)	(21)	(13)
Total revenues	(5)	(8)	(21)	(13)
Costs of products sold	(5)	(8)	(21)	(13)
Other non-operating income (expense)
Interest expense	2,809	1,861	5,465	3,549
Interest income	(2,809)	(1,861)	(5,465)	(3,550)
Other, net	(19,022)	(12,672)	(41,520)	(25,119)
Total other non-operating income (expense)	(19,022)	(12,672)	(41,520)	(25,120)
Income (loss) before income taxes	(19,022)	(12,672)	(41,520)	(25,120)
Net income	(19,022)	(12,672)	(41,520)	(25,120)
Other comprehensive income (loss)	(548)	(4,498)	(1,434)	8,088
Comprehensive income (loss)	(19,570)	(17,170)	(42,954)	(17,032)
Parent Company [Member]
Condensed Income Statements, Captions [Line Items]
Net sales	217,864	216,985	443,695	444,101
Energy and related sales, net	790	424	6,052	1,525
Total revenues	218,654	217,409	449,747	445,626
Costs of products sold	215,756	210,978	432,472	409,926
Gross profit	2,898	6,431	17,275	35,700
Selling, general and administrative expenses	16,555	16,928	34,347	38,054
Gains on dispositions of plant, equipment and timberlands, net	(162)	(17)	(974)	(90)
Operating income (loss)	(13,495)	(10,480)	(16,098)	(2,264)
Other non-operating income (expense)
Interest expense	(4,756)	(4,703)	(9,494)	(9,419)
Interest income	164	176	316	260
Other, net	18,683	12,139	40,300	24,095
Total other non-operating income (expense)	14,091	7,612	31,122	14,936
Income (loss) before income taxes	596	(2,868)	15,024	12,672
Income tax provision (benefit)	(4,073)	(3,801)	(4,293)	(3,890)
Net income	4,669	933	19,317	16,562
Other comprehensive income (loss)	3,026	7,105	5,991	(584)
Comprehensive income (loss)	7,695	8,038	25,308	15,978
Guarantors [Member]
Condensed Income Statements, Captions [Line Items]
Net sales	4	8	21	13
Total revenues	4	8	21	13
Costs of products sold	4	8	21	13
Selling, general and administrative expenses	143	88	156	102
Gains on dispositions of plant, equipment and timberlands, net	(1,316)		(1,317)
Operating income (loss)	1,173	(88)	1,161	(102)
Other non-operating income (expense)
Interest income	2,656	1,727	5,214	3,416
Other, net	11	(6)	21	(8)
Total other non-operating income (expense)	2,667	1,721	5,235	3,408
Income (loss) before income taxes	3,840	1,633	6,396	3,306
Income tax provision (benefit)	715	634	1,628	1,308
Net income	3,125	999	4,768	1,998
Other comprehensive income (loss)	(550)	1,379	(549)	(3,229)
Comprehensive income (loss)	2,575	2,378	4,219	(1,231)
Non Guarantors [Member]
Condensed Income Statements, Captions [Line Items]
Net sales	227,478	208,982	457,367	387,055
Total revenues	227,478	208,982	457,367	387,055
Costs of products sold	188,939	174,573	378,165	324,540
Gross profit	38,539	34,409	79,202	62,515
Selling, general and administrative expenses	15,616	17,512	31,362	29,859
Gains on dispositions of plant, equipment and timberlands, net	(4)	(2)		(2)
Operating income (loss)	22,927	16,899	47,840	32,658
Other non-operating income (expense)
Interest expense	(2,815)	(1,672)	(5,545)	(2,485)
Interest income	41	4	48	22
Other, net	389	714	1,471	1,454
Total other non-operating income (expense)	(2,385)	(954)	(4,026)	(1,009)
Income (loss) before income taxes	20,542	15,945	43,814	31,649
Income tax provision (benefit)	4,645	4,272	7,062	8,527
Net income	15,897	11,673	36,752	23,122
Other comprehensive income (loss)	1,098	3,119	1,983	(4,859)
Comprehensive income (loss)	$ 16,995	$ 14,792	$ 38,735	$ 18,263

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Share Repurchases - Summary of Share Repurchases under Stock Repurchase Plan (Detail) (USD $) In Thousands, except Share data, unless otherwise specified	6 Months Ended	26 Months Ended
	Jun. 30, 2014	Jun. 30, 2014
Equity [Abstract]
Authorized, shares
Authorized, amount	$ 50,000	$ 50,000
Repurchases, shares	360,299	651,419
Repurchases, amount	(9,500)	(14,006)
Remaining authorization, amount		$ 35,994

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Accounting Policies (Policies)

6 Months Ended

Jun. 30, 2014

Accounting Policies [Abstract]

Basis of Presentation

Basis of Presentation The unaudited condensed consolidated financial statements (“financial statements”) include the accounts of Glatfelter and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated.

We prepared these financial statements in accordance with accounting principles generally accepted in the United States of America (“generally accepted accounting principles” or “GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission pertaining to interim financial statements. In our opinion, the financial statements reflect all normal, recurring adjustments needed to present fairly our results for the interim periods. When preparing these financial statements, we have assumed that you have read the audited consolidated financial statements included in our 2013 Annual Report on Form 10-K.

Accounting Estimates

Accounting Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingencies as of the balance sheet date and the reported amounts of revenues and expenses during the reporting period. Management believes the estimates and assumptions used in the preparation of these financial statements are reasonable, based upon currently available facts and known circumstances, but recognizes that actual results may differ from those estimates and assumptions.

Recently Issued Accounting Pronouncements

Recently Issued Accounting Pronouncements In May 2014, the Financial Accounting Standards Board issued Accounting Standards Update No. 2014-09 - Revenue from Contracts with Customers which clarifies the principles for recognizing revenue and develops a common revenue standard for GAAP and International Financial Reporting Standards. The new standard is required to be adopted for fiscal years beginning after December 15, 2016 and early adoption is not permitted. We are in the process of evaluating the impact this standard may have, if any, on our reported results of operations or financial position.

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Income Taxes - Summary of Tax Years that Remain Subject to Examination by Major Jurisdiction (Detail)	6 Months Ended
	Jun. 30, 2014
United States - Federal [Member]
Income Tax Examination [Line Items]
Examinations not yet initiated	2010, 2013
Examination in progress	2011 - 2012
United States - State [Member]
Income Tax Examination [Line Items]
Examinations not yet initiated	2009 - 2013
Canada [Member]
Income Tax Examination [Line Items]
Examinations not yet initiated	2010 - 2013
Examination in progress	2009
Germany [Member]
Income Tax Examination [Line Items]
Examinations not yet initiated	2012 - 2013
Examination in progress	2007 - 2011
France [Member]
Income Tax Examination [Line Items]
Examinations not yet initiated	2010, 2013
Examination in progress	2011 - 2012
United Kingdom [Member]
Income Tax Examination [Line Items]
Examinations not yet initiated	2010 - 2013
Philippines [Member]
Income Tax Examination [Line Items]
Examinations not yet initiated	2012 - 2013
Examination in progress	2011

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Acquisition - Summary of Preliminary Allocation of Purchase Price to Assets Acquired and Liabilities Assumed (Detail) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2014
Assets
Cash and cash equivalents	$ 12,227
Accounts receivable	23,870
Inventory	13,864
Prepaid and other current assets	8,060
Plant, equipment and timberlands	60,951
Intangible assets	87,596
Goodwill	74,870
Total assets	281,438
Liabilities
Accounts payable	20,253
Deferred tax liabilities	36,120
Other long term liabilities	1,927
Total liabilities	58,300
Total	223,138
Total	223,138
less cash acquired	(12,227)
Total purchase price	210,911
As Originally Presented [Member]
Assets
Cash and cash equivalents	12,227
Accounts receivable	23,870
Inventory	13,864
Prepaid and other current assets	6,674
Plant, equipment and timberlands	60,951
Intangible assets	87,596
Goodwill	76,256
Total assets	281,438
Liabilities
Accounts payable	20,360
Deferred tax liabilities	36,120
Other long term liabilities	1,820
Total liabilities	58,300
Total	223,138
Total	223,138
less cash acquired	(12,227)
Total purchase price	210,911
Cumulative Adjustments [Member]
Assets
Prepaid and other current assets	1,386
Goodwill	(1,386)
Liabilities
Accounts payable	(107)
Other long term liabilities	$ 107

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Segment Information - Additional Information (Detail) (USD $) In Thousands, unless otherwise specified	0 Months Ended	6 Months Ended
	Apr. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Segment Reporting Information [Line Items]
Payment made for acquisition, net of cash acquired	$ 211,000	$ 0	$ 210,911
Dresden Papier GmbH [Member]
Segment Reporting Information [Line Items]
Date of acquisition	Apr. 30, 2013
Payment made for acquisition, net of cash acquired	$ 211,000

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Financial Derivatives and Hedging Activities (Tables)

6 Months Ended

Jun. 30, 2014

Fair Values of Derivative Instruments

The following table summarizes the fair values of derivative instruments for the period indicated and the line items in the accompanying condensed consolidated balance sheets where the instruments are recorded:

In thousands	June 30 2014		December 31 2013		June 30 2014		December 31 2013
Balance sheet caption	Prepaid Expenses and Other Current Assets				Other Current Liabilities
Designated as hedging:
Forward foreign currency exchange contracts	$	321	$	—	$	155	$	1,163
Not designated as hedging:
Forward foreign currency exchange contracts	$	15	$	36	$	80	$	46

Income or (Loss) from Derivative Instruments Recognized in Results of Operations

The following table summarizes the amount of income or (loss) from derivative instruments recognized in our results of operations for the periods indicated and the line items in the accompanying condensed consolidated statements of income where the results are recorded:

	Three months ended June 30						Six months ended June 30
In thousands	2014			2013			2014			2013
Designated as hedging:
Forward foreign currency exchange contracts:
Effective portion – cost of products sold	$	(641	)	$	(188	)	$	(1,090	)	$	(258	)
Ineffective portion – other – net		119			(53	)		100			26
Not designated as hedging:
Forward foreign currency exchange contracts:
Other – net	$	861		$	(763	)	$	1,196		$	(446	)

Fair Value Amounts Recorded as Component of Accumulated Other Comprehensive Income

A rollforward of fair value amounts recorded as a component of accumulated other comprehensive income is as follows:

In thousands	2014			2013
Balance at January 1,	$	(1,296	)	$	(599	)
Deferred (losses) gains on cash flow hedges		292			(177	)
Reclassified to earnings		1,090			258
Balance at June 30,	$	86		$	(518	)

Designated as Hedging [Member]

Outstanding Derivatives Used to Hedge Foreign Exchange Risks

We had the following outstanding derivatives that were used to hedge foreign exchange risks associated with forecasted transactions and designated as hedging instruments:

In thousands	June 30 2014		December 31 2013
Derivative	Buy Notional
Sell / Buy
Euro / U.S. dollar		26,348		27,105
U.S. dollar / Canadian dollar		9,449		13,077
Euro / Philippine peso		510,705		—
British Pound / Philippine peso		207,955		—
Euro / British Pound		3,468		—

Not Designated as Hedging [Member]

Outstanding Derivatives Used to Hedge Foreign Exchange Risks

The following sets forth derivatives used to mitigate the impact changes in currency exchange rates have on balance sheet monetary assets and liabilities:

In thousands	June 30 2014			December 31 2013
Derivative	Sell (Buy) Notional
Sell / Buy
Euro / U.S. dollar		8,000			9,000
Euro / British Pound		(9,000	)		(8,000	)
Euro / British Pound		4,000			5,000
Canadian dollar / U.S. dollar		2,000			2,000
U.S. dollar / Euro		—			2,000
U.S. dollar / British Pound		7,000			6,000

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Stock-Based Compensation - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Restricted Stock Units (RSU) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
The vesting graded scale	Over a three, four, and five-year period, or in certain instances the RSUs were issued with five year cliff vesting.
Performance Share Awards (PSAs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cumulative performance targets	3 years
Grants under performance share awards	93,660	151,955
Stock Only Stock Appreciation Rights (SOSARs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period of stock	3 years
Vesting term	10 years

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Financial Derivatives and Hedging Activities - Outstanding Derivatives Used to Hedge Foreign Exchange Risks (Detail) In Thousands, unless otherwise specified	Jun. 30, 2014 Cash Flow Hedges [Member] Designated as Hedging [Member] Euro / U.S. Dollar [Member] USD ($)	Dec. 31, 2013 Cash Flow Hedges [Member] Designated as Hedging [Member] Euro / U.S. Dollar [Member] USD ($)	Jun. 30, 2014 Cash Flow Hedges [Member] Designated as Hedging [Member] U.S. Dollar / Canadian Dollar [Member] CAD	Dec. 31, 2013 Cash Flow Hedges [Member] Designated as Hedging [Member] U.S. Dollar / Canadian Dollar [Member] CAD	Jun. 30, 2014 Cash Flow Hedges [Member] Designated as Hedging [Member] Euro / Philippine Peso [Member] PHP	Jun. 30, 2014 Cash Flow Hedges [Member] Designated as Hedging [Member] British Pound / Philippine Peso [Member] PHP	Jun. 30, 2014 Cash Flow Hedges [Member] Designated as Hedging [Member] Euro / British Pound [Member] GBP (£)	Jun. 30, 2014 Foreign Currency Hedges [Member] Not Designated as Hedging [Member] Euro / U.S. Dollar [Member] EUR (€)	Dec. 31, 2013 Foreign Currency Hedges [Member] Not Designated as Hedging [Member] Euro / U.S. Dollar [Member] EUR (€)	Jun. 30, 2014 Foreign Currency Hedges [Member] Not Designated as Hedging [Member] Euro / British Pound [Member] EUR (€)	Jun. 30, 2014 Foreign Currency Hedges [Member] Not Designated as Hedging [Member] Euro / British Pound [Member] GBP (£)	Dec. 31, 2013 Foreign Currency Hedges [Member] Not Designated as Hedging [Member] Euro / British Pound [Member] EUR (€)	Dec. 31, 2013 Foreign Currency Hedges [Member] Not Designated as Hedging [Member] Euro / British Pound [Member] GBP (£)	Jun. 30, 2014 Foreign Currency Hedges [Member] Not Designated as Hedging [Member] Canadian Dollar / U.S Dollar [Member] CAD	Dec. 31, 2013 Foreign Currency Hedges [Member] Not Designated as Hedging [Member] Canadian Dollar / U.S Dollar [Member] CAD	Dec. 31, 2013 Foreign Currency Hedges [Member] Not Designated as Hedging [Member] U.S Dollar / Euro [Member] USD ($)	Jun. 30, 2014 Foreign Currency Hedges [Member] Not Designated as Hedging [Member] U.S. Dollar / British Pound [Member] USD ($)	Dec. 31, 2013 Foreign Currency Hedges [Member] Not Designated as Hedging [Member] U.S. Dollar / British Pound [Member] USD ($)
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Sell (Buy) Notional	$ (26,348)	$ (27,105)	(9,449)	(13,007)	(510,705)	(207,955)	£ (3,468)	€ 8,000	€ 9,000	€ 4,000	£ (9,000)	€ 5,000	£ (8,000)	2,000	2,000	$ 2,000	$ 7,000	$ 6,000

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Asset Retirement Obligation - Additional Information (Detail) (USD $) In Millions, unless otherwise specified	Dec. 31, 2008
Asset Retirement Obligation Disclosure [Abstract]
Fair value of asset retirement obligations related to the legal requirements	$ 11.5

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Accumulated Other Comprehensive Income - Schedule of Changes in Accumulated Other Comprehensive Income (Losses) (Detail) (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	$ (72,392)	$ (171,655)	$ (75,357)	$ (163,966)
Other comprehensive income before reclassifications (net of tax)	85	3,196	410	(8,371)
Amounts reclassified from accumulated other comprehensive income (net of tax)	2,941	3,909	5,581	7,787
Other comprehensive income (loss)	3,026	7,105	5,991	(584)
Ending Balance	(69,366)	(164,550)	(69,366)	(164,550)
Currency Translation Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	15,869	(11,642)	15,141	315
Other comprehensive income before reclassifications (net of tax)	(533)	3,727	195	(8,230)
Other comprehensive income (loss)	(533)	3,727	195	(8,230)
Ending Balance	15,336	(7,915)	15,336	(7,915)
Unrealized Gain (Loss) on Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	(1,020)	17	(941)	(424)
Other comprehensive income before reclassifications (net of tax)	618	(531)	215	(141)
Amounts reclassified from accumulated other comprehensive income (net of tax)	462	136	786	187
Other comprehensive income (loss)	1,080	(395)	1,001	46
Ending Balance	60	(378)	60	(378)
Pension Plans [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	(87,266)	(155,781)	(89,547)	(159,560)
Other comprehensive income before reclassifications (net of tax)	0	0	0	0
Amounts reclassified from accumulated other comprehensive income (net of tax)	2,444	3,725	4,725	7,504
Other comprehensive income (loss)	2,444	3,725	4,725	7,504
Ending Balance	(84,822)	(152,056)	(84,822)	(152,056)
Other Postretirement Benefit Plans [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	25	(4,249)	(10)	(4,297)
Other comprehensive income before reclassifications (net of tax)	0	0	0	0
Amounts reclassified from accumulated other comprehensive income (net of tax)	35	48	70	96
Other comprehensive income (loss)	35	48	70	96
Ending Balance	$ 60	$ (4,201)	$ 60	$ (4,201)

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Acquisition

6 Months Ended

Jun. 30, 2014

Business Combinations [Abstract]

Acquisition

3. ACQUISITION

On April 30, 2013, we completed the acquisition of all outstanding shares of Dresden Papier GmbH (“Dresden”) from Fortress Paper Ltd. for $211 million, net of cash acquired. Dresden, based in Heidenau, Germany, is the leading global supplier of nonwoven wallpaper base materials, and is a major supplier to most of the world’s largest wallpaper manufacturers. Dresden’s revenue for the full year 2013 was $158.6 million and it employed approximately 146 people at its state-of-the-art, 72,800 short-ton-capacity manufacturing facility. We financed the acquisition through a combination of cash on hand and borrowings under our Revolving Credit Facility.

The acquisition of Dresden added another industry-leading nonwovens product line to our Composite Fibers business, and broadens our relationship with leading producers of consumer and industrial products. The Dresden acquisition also provided additional operational leverage and growth opportunities for Glatfelter globally, particularly in large markets such as Russia and China, and other developing markets in Eastern Europe and Asia.

Dresden now operates as part of our Composite Fibers business unit which manufactures fiber-based products for growing global niche markets including filtration papers for tea and single serve coffee applications, metallized papers, and technical specialties.

The share purchase agreement provides for, among other terms, indemnification provisions for claims that may arise, including among others, uncertain tax positions and other third party claims. The allocation of the purchase price to assets acquired and liabilities assumed is as follows:

In thousands	As originally presented			Cumulative adjustments			Adjusted
Assets
Cash and cash equivalents	$	12,227		$	—		$	12,227
Accounts receivable		23,870			—			23,870
Inventory		13,864			—			13,864
Prepaid and other current assets		6,674			1,386			8,060
Plant, equipment and timberlands		60,951			—			60,951
Intangible assets		87,596			—			87,596
Goodwill		76,256			(1,386	)		74,870
Total assets		281,438			—			281,438
Liabilities
Accounts payable		20,360			(107	)		20,253
Deferred tax liabilities		36,120			—			36,120
Other long term liabilities		1,820			107			1,927
Total liabilities		58,300			—			58,300
Total		223,138			—			223,138
less cash acquired		(12,227	)		—			(12,227	)
Total purchase price	$	210,911		$	—		$	210,911

The adjustments set forth above primarily relate to the recognition of additional indemnification receivable from the seller associated with certain tax matters. Such adjustments were recorded in the third quarter of 2013 and did not impact previously reported results of operations, earnings per share, or cash flows.

For purposes of allocating the total purchase price, assets acquired and liabilities assumed are recorded at their estimated fair market value. The allocation set forth above is based on management’s estimate of the fair value using valuation techniques such as discounted cash flow models, appraisals and similar methodologies. The amount allocated to intangible assets represents the estimated value of customer relationships, technological know-how and trade name.

Acquired property, plant and equipment are being depreciated on a straight-line basis with estimated remaining lives ranging from 5 years to 30 years. Intangible assets are being amortized on a straight-line basis over an average estimated remaining life of 17 years reflecting the expected future value.

In connection with the Dresden acquisition we recorded $74.9 million of goodwill and $87.6 million of intangible assets. The goodwill arising from the acquisition largely relates to strategic benefits, product and market diversification, assembled workforce, and similar factors. For tax purposes, none of the goodwill is deductible. Intangible assets consist of $9.8 million of non-amortizing tradename, and the remainder consists of technology and customer relationships.

Our results of operations include the results of Dresden prospectively since the acquisition was completed on April 30, 2013. All such results reported herein are included as part of the Composite Fibers business unit. Revenue of Dresden included in our consolidated results of operations for the second quarter and first six months of 2014 totaled $38.3 million and $79.6 million, respectively, and operating income for the same periods of 2014 totaled $8.2 million and $17.1 million, respectively.

The table below summarizes pro forma financial information as if the acquisition and related financing transaction occurred as of January 1, 2013:

In thousands, except per share	Three months ended June 30 2013		Six months ended June 30 2013
Pro forma
Net sales	$	441,204	$	887,975
Net income		6,643		29,436
Diluted earnings per share		0.15		0.67

This unaudited pro forma financial information above is not necessarily indicative of what the operating results would have been had the acquisition been completed at the beginning of the respective period nor is it indicative of future results.

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Asset Retirement Obligation - Schedule of Asset Retirement Obligation (Detail) (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Asset Retirement Obligation Disclosure [Abstract]
Balance at January 1,	$ 5,032	$ 8,882
Accretion	77	164
Payments	(429)	(2,332)
Gain	(86)
Balance at June 30,	$ 4,594	$ 6,714

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Acquisition - Summary of Pro Forma Financial Information (Detail) (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended	6 Months Ended
	Jun. 30, 2013	Jun. 30, 2013
Pro forma
Net sales	$ 441,204	$ 887,975
Net income	$ 6,643	$ 29,436
Diluted earnings per share	$ 0.15	$ 0.67

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Accumulated Other Comprehensive Income (Tables)

6 Months Ended

Jun. 30, 2014

Equity [Abstract]

Schedule of Changes in Accumulated Other Comprehensive Income (Losses)

The following table sets forth details of the changes in accumulated other comprehensive income (losses) for the three months and six months ended June 30, 2014 and 2013.

in thousands	Currency Translation Adjustments			Unrealized gain (loss) on cash flow hedges			Change in pensions			Change in other postretirement defined benefit plans			Total
Balance at April 1, 2014	$	15,869		$	(1,020	)	$	(87,266	)	$	25		$	(72,392	)
Other comprehensive income before reclassifications (net of tax)		(533	)		618			—			—			85
Amounts reclassified from accumulated other comprehensive income (net of tax)		—			462			2,444			35			2,941
Net current period other comprehensive income (loss)		(533	)		1,080			2,444			35			3,026
Balance at June 30, 2014	$	15,336		$	60		$	(84,822	)	$	60		$	(69,366	)
Balance at April 1, 2013	$	(11,642	)	$	17		$	(155,781	)	$	(4,249	)	$	(171,655	)
Other comprehensive income before reclassifications (net of tax)		3,727			(531	)		—			—			3,196
Amounts reclassified from accumulated other comprehensive income (net of tax)		—			136			3,725			48			3,909
Net current period other comprehensive income (loss)		3,727			(395	)		3,725			48			7,105
Balance at June 30, 2013	$	(7,915	)	$	(378	)	$	(152,056	)	$	(4,201	)	$	(164,550	)
Balance at January 1, 2014	$	15,141		$	(941	)	$	(89,547	)	$	(10	)	$	(75,357	)
Other comprehensive income before reclassifications (net of tax)		195			215			—			—			410
Amounts reclassified from accumulated other comprehensive income (net of tax)		—			786			4,725			70			5,581
Net current period other comprehensive income (loss)		195			1,001			4,725			70			5,991
Balance at June 30, 2014	$	15,336		$	60		$	(84,822	)	$	60		$	(69,366	)
Balance at January 1, 2013	$	315		$	(424	)	$	(159,560	)	$	(4,297	)	$	(163,966	)
Other comprehensive income before reclassifications (net of tax)		(8,230	)		(141	)		—			—			(8,371	)
Amounts reclassified from accumulated other comprehensive income (net of tax)		—			187			7,504			96			7,787
Net current period other comprehensive income (loss)		(8,230	)		46			7,504			96			(584	)
Balance at June 30, 2013	$	(7,915	)	$	(378	)	$	(152,056	)	$	(4,201	)	$	(164,550	)

Schedule of Reclassifications Out of Accumulated Other Comprehensive Income

Reclassifications out of accumulated other comprehensive income were as follows:

	Three months ended June 30						Six months ended June 30
In thousands	2014			2013			2014			2013
Description													Line Item in Statements of Income
Cash flow hedges (Note 14)
(Gains) losses on cash flow hedges	$	641		$	188		$	1,090		$	258		Costs of products sold
		(179	)		(52	)		(304	)		(71	)	Income tax provision
Net of tax		462			136			786			187
Retirement plan obligations (Note 9)
Amortization of deferred benefit pension plan items
Prior service costs		695			613			1,243			1,226		Costs of products sold
		226			161			412			322		Selling, general and administrative
Actuarial losses		2,233			4,025			4,429			8,139		Costs of products sold
		781			1,160			1,525			2,335		Selling, general and administrative
		3,935			5,959			7,609			12,022
		(1,491	)		(2,234	)		(2,884	)		(4,518	)	Income tax provision
Net of tax		2,444			3,725			4,725			7,504
Amortization of deferred benefit other plan items
Prior service costs		(59	)		(100	)		(118	)		(200	)	Costs of products sold
		(13	)		(25	)		(26	)		(50	)	Selling, general and administrative
Actuarial losses		106			155			212			310		Costs of products sold
		23			47			46			94		Selling, general and administrative
		57			77			114			154
		(22	)		(29	)		(44	)		(58	)	Income tax provision
Net of tax		35			48			70			96
Total reclassifications, net of tax	$	2,941		$	3,909		$	5,581		$	7,787

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Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2014

Earnings Per Share [Abstract]

Details of Basic and Diluted Earnings Per Share (EPS)

The following table sets forth the details of basic and diluted earnings per share (“EPS”):

	Three months ended June 30
In thousands, except per share	2014		2013
Net income	$	4,669	$	933
Weighted average common shares outstanding used in basic EPS		43,287		43,134
Common shares issuable upon exercise of dilutive stock options and PSAs / RSUs		849		1,068
Weighted average common shares outstanding and common share equivalents used in diluted EPS		44,136		44,202
Earnings per share
Basic	$	0.11	$	0.02
Diluted		0.11		0.02

	Six months ended June 30
In thousands, except per share	2014		2013
Net income	$	19,317	$	16,562
Weighted average common shares outstanding used in basic EPS		43,327		43,050
Common shares issuable upon exercise of dilutive stock options and PSAs / RSUs		924		1,069
Weighted average common shares outstanding and common share equivalents used in diluted EPS		44,251		44,119
Earnings per share
Basic	$	0.45	$	0.38
Diluted		0.44		0.38

Number of Potential Common Shares that have been Excluded from Computation of Diluted Earnings Per Share for Indicated Period Due to Their Anti-Dilutive Nature

The following table sets forth potential common shares outstanding for stock options and restricted stock units that were not included in the computation of diluted EPS for the period indicated, because their effect would be anti-dilutive:

	June 30
	2014		2013
Three months ended		279		—
Six months ended		273		—

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Retirement Plans and Other Post-Retirement Benefits - Schedule of Net Periodic Costs of Pension and Post Retirement Medical Benefit Plans (Detail) (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Amortization of Deferred Benefit Pension Plan Items [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 2,504	$ 2,585	$ 5,208	$ 5,796
Interest cost	6,309	5,480	12,480	11,000
Expected return on plan assets	(10,931)	(10,810)	(21,938)	(21,713)
Amortization of prior service cost	921	774	1,655	1,548
Amortization of unrecognized loss	3,014	5,185	5,954	10,474
Net periodic benefit cost	1,817	3,214	3,359	7,105
Other Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	615	789	1,230	1,578
Interest cost	598	545	1,196	1,090
Amortization of prior service cost	(72)	(125)	(144)	(250)
Amortization of unrecognized loss	129	202	258	404
Net periodic benefit cost	$ 1,270	$ 1,411	$ 2,540	$ 2,822

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Gains on Dispositions of Plant, Equipment and Timberlands, Net - Summary for Sale of Timberlands and Other Assets (Detail) (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Property, Plant and Equipment [Line Items]
Proceeds			$ 2,360	$ 92
Gain	1,482	19	2,291	92
Timberlands [Member]
Property, Plant and Equipment [Line Items]
Acres			935
Proceeds			2,355
Gain			2,290
Other [Member]
Property, Plant and Equipment [Line Items]
Proceeds			5	92
Gain			$ 1	$ 92

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Income Taxes (Tables)

6 Months Ended

Jun. 30, 2014

Income Tax Disclosure [Abstract]

Summary of Tax Years that Remain Subject to Examination by Major Jurisdiction

The following table summarizes, by major jurisdiction, tax years that remain subject to examination:

	Open Tax Years
Jurisdiction	Examinations not yet initiated		Examination in progress
United States
Federal		2010, 2013		2011 -2012
State		2009 - 2013		N/A
Canada (1)		2010 - 2013		2009
Germany (1)		2012 - 2013		2007 - 2011
France		2010, 2013		2011 - 2012
United Kingdom		2010 - 2013		N/A
Philippines		2012 - 2013		2011

(1) – includes provincial or similar local jurisdictions, as applicable

Summary of Information Related to Interest and Penalties on Uncertain Tax Positions

The following table summarizes information related to interest and penalties on uncertain tax positions:

	Six months ended June 30
In millions	2014		2013
Interest expense	$	0.1	$	0.3
Penalties		—		—
	June 30 2014		December 31 2013
Accrued interest payable	$	0.7	$	0.6

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Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2014

Restricted Stock Units (RSU) and Performance Share Awards (PSAs) [Member]

Summary of Stock Option Activity

The following table summarizes RSU and PSA activity during periods indicated:

Units	2014			2013
Balance January 1,		1,001,814			847,679
Granted		167,255			180,602
Forfeited		(38,458	)		(36,435	)
Shares delivered		(239,394	)		(111,730	)
Balance June 30,		891,217			880,116

Compensation Expense for Stock Option Activity

The following table sets forth aggregate RSU and PSA compensation expense for the periods indicated:

	June 30
In thousands	2014		2013
Three months ended	$	441	$	604
Six months ended		1,020		1,324

Stock Only Stock Appreciation Rights (SOSARs) [Member]

Summary of Stock Option Activity

The following table sets forth information related to outstanding SOSARS.

	2014					2013
SOSARS	Shares			Wtd Avg Exercise Price		Shares			Wtd Avg Exercise Price
Outstanding at January 1,		1,977,133		$	13.91		2,121,454		$	12.93
Granted		275,529			29.89		361,923			18.36
Exercised		(19,199	)		15.57		(435,562	)		12.63
Canceled / forfeited		(24,719	)		18.85		(73,901	)		16.25
Outstanding at June 30,		2,208,744		$	15.83		1,973,914		$	13.87
SOSAR Grants
Weighted average grant date fair value per share	$	9.85				$	5.64
Aggregate grant date fair value (in thousands)	$	2,713				$	2,042
Black-Scholes assumptions
Dividend yield		1.47	%				2.18	%
Risk free rate of return		1.73	%				0.99	%
Volatility		37.59	%				39.62	%
Expected life		6 yrs					6 yrs

Compensation Expense for Stock Option Activity

The following table sets forth SOSAR compensation expense for the periods indicated:

	June 30
In thousands	2014		2013
Three months ended	$	559	$	415
Six months ended		1,008		800

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Accounting Policies

6 Months Ended

Jun. 30, 2014

Accounting Policies [Abstract]

Accounting Policies

2. ACCOUNTING POLICIES

Basis of Presentation The unaudited condensed consolidated financial statements (“financial statements”) include the accounts of Glatfelter and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated.

We prepared these financial statements in accordance with accounting principles generally accepted in the United States of America (“generally accepted accounting principles” or “GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission pertaining to interim financial statements. In our opinion, the financial statements reflect all normal, recurring adjustments needed to present fairly our results for the interim periods. When preparing these financial statements, we have assumed that you have read the audited consolidated financial statements included in our 2013 Annual Report on Form 10-K.

Accounting Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingencies as of the balance sheet date and the reported amounts of revenues and expenses during the reporting period. Management believes the estimates and assumptions used in the preparation of these financial statements are reasonable, based upon currently available facts and known circumstances, but recognizes that actual results may differ from those estimates and assumptions.

Recently Issued Accounting Pronouncements In May 2014, the Financial Accounting Standards Board issued Accounting Standards Update No. 2014-09 - Revenue from Contracts with Customers which clarifies the principles for recognizing revenue and develops a common revenue standard for GAAP and International Financial Reporting Standards. The new standard is required to be adopted for fiscal years beginning after December 15, 2016 and early adoption is not permitted. We are in the process of evaluating the impact this standard may have, if any, on our reported results of operations or financial position.

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Retirement Plans and Other Post-Retirement Benefits (Tables)

6 Months Ended

Jun. 30, 2014

Compensation And Retirement Disclosure [Abstract]

Schedule of Net Periodic Costs of Pension and Post Retirement Medical Benefit Plans

The following tables provide information with respect to the net periodic costs of our pension and post retirement medical benefit plans.

	Three months ended June 30
In thousands	2014			2013
Pension Benefits
Service cost	$	2,504		$	2,585
Interest cost		6,309			5,480
Expected return on plan assets		(10,931	)		(10,810	)
Amortization of prior service cost		921			774
Amortization of unrecognized loss		3,014			5,185
Net periodic benefit cost	$	1,817		$	3,214
Other Benefits
Service cost	$	615		$	789
Interest cost		598			545
Amortization of prior service cost		(72	)		(125	)
Amortization of unrecognized loss		129			202
Net periodic benefit cost	$	1,270		$	1,411
	Six months ended June 30
In thousands	2014			2013
Pension Benefits
Service cost	$	5,208		$	5,796
Interest cost		12,480			11,000
Expected return on plan assets		(21,938	)		(21,713	)
Amortization of prior service cost		1,655			1,548
Amortization of unrecognized loss		5,954			10,474
Net periodic benefit cost	$	3,359		$	7,105
Other Benefits
Service cost	$	1,230		$	1,578
Interest cost		1,196			1,090
Amortization of prior service cost		(144	)		(250	)
Amortization of unrecognized loss		258			404
Net periodic benefit cost	$	2,540		$	2,822

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Condensed Consolidating Financial Statements (Tables)

6 Months Ended

Jun. 30, 2014

Condensed Financial Information Of Parent Company Only Disclosure [Abstract]

Condensed Consolidating Statements of Income and Comprehensive Income

Condensed Consolidating Statements of Income and Comprehensive Income for the

three months ended June 30, 2014

In thousands	Parent Company			Guarantors			Non Guarantors			Adjustments/ Eliminations			Consolidated
Net sales	$	217,864		$	4		$	227,478		$	(5	)	$	445,341
Energy and related sales, net		790			—			—			—			790
Total revenues		218,654			4			227,478			(5	)		446,131
Costs of products sold		215,756			4			188,939			(5	)		404,694
Gross profit		2,898			—			38,539			—			41,437
Selling, general and administrative expenses		16,555			143			15,616			—			32,314
Gains on dispositions of plant, equipment and timberlands, net		(162	)		(1,316	)		(4	)		—			(1,482	)
Operating income (loss)		(13,495	)		1,173			22,927			—			10,605
Other non-operating income (expense)
Interest expense		(4,756	)		—			(2,815	)		2,809			(4,762	)
Interest income		164			2,656			41			(2,809	)		52
Other, net		18,683			11			389			(19,022	)		61
Total other non-operating income (expense)		14,091			2,667			(2,385	)		(19,022	)		(4,649	)
Income before income taxes		596			3,840			20,542			(19,022	)		5,956
Income tax provision (benefit)		(4,073	)		715			4,645			—			1,287
Net income		4,669			3,125			15,897			(19,022	)		4,669
Other comprehensive income (loss)		3,026			(550	)		1,098			(548	)		3,026
Comprehensive income	$	7,695		$	2,575		$	16,995		$	(19,570	)	$	7,695

Condensed Consolidating Statements of Income and Comprehensive Income for the

three months ended June 30, 2013

In thousands	Parent Company			Guarantors			Non Guarantors			Adjustments/ Eliminations			Consolidated
Net sales	$	216,985		$	8		$	208,982		$	(8	)	$	425,967
Energy and related sales, net		424			—			—			—			424
Total revenues		217,409			8			208,982			(8	)		426,391
Costs of products sold		210,978			8			174,573			(8	)		385,551
Gross profit		6,431			—			34,409			—			40,840
Selling, general and administrative expenses		16,928			88			17,512			—			34,528
Gains on dispositions of plant, equipment and timberlands, net		(17	)		—			(2	)		—			(19	)
Operating income (loss)		(10,480	)		(88	)		16,899			—			6,331
Other non-operating income (expense)
Interest expense		(4,703	)		—			(1,672	)		1,861			(4,514	)
Interest income		176			1,727			4			(1,861	)		46
Other, net		12,139			(6	)		714			(12,672	)		175
Total other non-operating income (expense)		7,612			1,721			(954	)		(12,672	)		(4,293	)
Income (loss) before income taxes		(2,868	)		1,633			15,945			(12,672	)		2,038
Income tax provision (benefit)		(3,801	)		634			4,272			—			1,105
Net income		933			999			11,673			(12,672	)		933
Other comprehensive income		7,105			1,379			3,119			(4,498	)		7,105
Comprehensive income	$	8,038		$	2,378		$	14,792		$	(17,170	)	$	8,038

Condensed Consolidating Statements of Income and Comprehensive Income for the

six months ended June 30, 2014

In thousands	Parent Company			Guarantors			Non Guarantors			Adjustments/ Eliminations			Consolidated
Net sales	$	443,695		$	21		$	457,367		$	(21	)	$	901,062
Energy and related sales – net		6,052			—			—			—			6,052
Total revenues		449,747			21			457,367			(21	)		907,114
Costs of products sold		432,472			21			378,165			(21	)		810,637
Gross profit		17,275			—			79,202			—			96,477
Selling, general and administrative expenses		34,347			156			31,362			—			65,865
Gains on dispositions of plant, equipment and timberlands, net		(974	)		(1,317	)		—			—			(2,291	)
Operating income		(16,098	)		1,161			47,840			—			32,903
Other non-operating income (expense)
Interest expense		(9,494	)		—			(5,545	)		5,465			(9,574	)
Interest income		316			5,214			48			(5,465	)		113
Other, net		40,300			21			1,471			(41,520	)		272
Total other non-operating income (expense)		31,122			5,235			(4,026	)		(41,520	)		(9,189	)
Income before income taxes		15,024			6,396			43,814			(41,520	)		23,714
Income tax provision (benefit)		(4,293	)		1,628			7,062			—			4,397
Net income		19,317			4,768			36,752			(41,520	)		19,317
Other comprehensive income (loss)		5,991			(549	)		1,983			(1,434	)		5,991
Comprehensive income	$	25,308		$	4,219		$	38,735		$	(42,954	)	$	25,308

Condensed Consolidating Statements of Income and Comprehensive Income for the

six months ended June 30, 2013

In thousands	Parent Company			Guarantors			Non Guarantors			Adjustments/ Eliminations			Consolidated
Net sales	$	444,101		$	13		$	387,055		$	(13	)	$	831,156
Energy and related sales, net		1,525			—			—			—			1,525
Total revenues		445,626			13			387,055			(13	)		832,681
Costs of products sold		409,926			13			324,540			(13	)		734,466
Gross profit		35,700			—			62,515			—			98,215
Selling, general and administrative expenses		38,054			102			29,859			—			68,015
Gains on dispositions of plant, equipment and timberlands, net		(90	)		—			(2	)		—			(92	)
Operating income (loss)		(2,264	)		(102	)		32,658			—			30,292
Other non-operating income (expense)
Interest expense		(9,419	)		—			(2,485	)		3,549			(8,355	)
Interest income		260			3,416			22			(3,550	)		148
Other, net		24,095			(8	)		1,454			(25,119	)		422
Total other non-operating income (expense)		14,936			3,408			(1,009	)		(25,120	)		(7,785	)
Income before income taxes		12,672			3,306			31,649			(25,120	)		22,507
Income tax provision (benefit)		(3,890	)		1,308			8,527			—			5,945
Net income		16,562			1,998			23,122			(25,120	)		16,562
Other comprehensive loss		(584	)		(3,229	)		(4,859	)		8,088			(584	)
Comprehensive income (loss)	$	15,978		$	(1,231	)	$	18,263		$	(17,032	)	$	15,978

Condensed Consolidating Balance Sheet

Condensed Consolidating Balance Sheet as of

June 30, 2014

In thousands	Parent Company		Guarantors		Non Guarantors		Adjustments/ Eliminations			Consolidated
Assets
Cash and cash equivalents	$	9,411	$	179	$	18,426	$	—		$	28,016
Other current assets		225,862		335,537		318,541		(366,211	)		513,729
Plant, equipment and timberlands, net		249,508		997		469,314		—			719,819
Other assets		1,021,078		234,602		209,890		(1,097,027	)		368,543
Total assets	$	1,505,859	$	571,315	$	1,016,171	$	(1,463,238	)	$	1,630,107
Liabilities and Shareholders’ Equity
Current liabilities	$	385,613	$	5,435	$	247,066	$	(374,307	)	$	263,807
Long-term debt		250,000		—		481,686		(318,069	)		413,617
Deferred income taxes		73,380		207		75,883		(9,465	)		140,005
Other long-term liabilities		104,283		—		12,809		3,003			120,095
Total liabilities		813,276		5,642		817,444		(698,838	)		937,524
Shareholders’ equity		692,583		565,673		198,727		(764,400	)		692,583
Total liabilities and shareholders’ equity	$	1,505,859	$	571,315	$	1,016,171	$	(1,463,238	)	$	1,630,107

Condensed Consolidating Balance Sheet as of

December 31, 2013

In thousands	Parent Company		Guarantors			Non Guarantors		Adjustments/ Eliminations			Consolidated
Assets
Cash and cash equivalents	$	56,216	$	501		$	66,165	$	—		$	122,882
Other current assets		208,814		327,152			253,779		(326,045	)		463,700
Plant, equipment and timberlands, net		247,243		1,054			475,043		—			723,340
Other assets		973,748		236,411			214,301		(1,055,972	)		368,488
Total assets	$	1,486,021	$	565,118		$	1,009,288	$	(1,382,017	)	$	1,678,410
Liabilities and Shareholders’ Equity
Current liabilities	$	375,535	$	2,855		$	247,855	$	(337,878	)	$	288,367
Long-term debt		250,000		—			513,120		(320,795	)		442,325
Deferred income taxes		70,989		(283	)		78,633		(8,319	)		141,020
Other long-term liabilities		105,021		—			13,792		3,409			122,222
Total liabilities		801,545		2,572			853,400		(663,583	)		993,934
Shareholders’ equity		684,476		562,546			155,888		(718,434	)		684,476
Total liabilities and shareholders’ equity	$	1,486,021	$	565,118		$	1,009,288	$	(1,382,017	)	$	1,678,410

Condensed Consolidating Statement of Cash Flows

Condensed Consolidating Statement of Cash Flows for the six

months ended June 30, 2014

In thousands	Parent Company			Guarantors			Non Guarantors			Adjustments/ Eliminations			Consolidated
Net cash provided (used) by
Operating activities	$	(15,054	)	$	1,773		$	(8,085	)	$	—		$	(21,366	)
Investing activities
Expenditures for purchases of plant, equipment and timberlands		(15,963	)		—			(14,193	)		—			(30,156	)
Proceeds from disposal plant, equipment and timberlands, net		1,000			1,355			5			—			2,360
Advances of intercompany loans		—			(3,450	)		—			3,450			—
Other		(100	)		—			—			—			(100	)
Total investing activities		(15,063	)		(2,095	)		(14,188	)		3,450			(27,896	)
Financing activities
Net repayments of indebtedness		—			—			(25,425	)		—			(25,425	)
Payment of dividends to shareholders		(9,164	)		—			—			—			(9,164	)
Repurchases of common stock		(9,158	)		—			—			—			(9,158	)
Borrowings of intercompany loans		3,450			—			—			(3,450	)		—
Payments related to share-based compensation awards and other		(1,816	)		—			—			—			(1,816	)
Total financing activities		(16,688	)		—			(25,425	)		(3,450	)		(45,563	)
Effect of exchange rate on cash		—			—			(41	)		—			(41	)
Net decrease in cash		(46,805	)		(322	)		(47,739	)		—			(94,866	)
Cash at the beginning of period		56,216			501			66,165			—			122,882
Cash at the end of period	$	9,411		$	179		$	18,426		$	—		$	28,016

Condensed Consolidating Statement of Cash Flows for the six

months ended June 30, 2013

In thousands	Parent Company			Guarantors			Non Guarantors			Adjustments/ Eliminations			Consolidated
Net cash provided (used) by
Operating activities	$	13,825		$	2,187		$	32,215		$	—		$	48,227
Investing activities
Expenditures for purchases of plant, equipment and timberlands		(20,618	)		—			(40,205	)		—			(60,823	)
Proceeds from disposal plant, equipment and timberlands, net		89			—			3			—			92
Repayments from intercompany loans		—			28,750			—			(28,750	)		—
Advances of intercompany loans		(1,000	)		(35,057	)		—			36,057			—
Intecompany capital contributed		—			(91	)		—			91			—
Acquisitions, net of cash acquired		—			—			(210,911	)		—			(210,911	)
Other		(225	)		—			—			—			(225	)
Total investing activities		(21,754	)		(6,398	)		(251,113	)		7,398			(271,867	)
Financing activities
Net proceeds from indebtedness		—			—			182,230			—			182,230
Payments of note offering costs		(160	)		—			(259	)		—			(419	)
Payment of dividends to shareholders		(8,245	)		—			—			—			(8,245	)
Repayments of intercompany loans		(14,750	)		—			(14,000	)		28,750			—
Borrowings of intercompany loans		330			—			35,727			(36,057	)		—
Intercompany capital received		—			—			91			(91	)		—
Proceeds from stock options exercised and other		(2,332	)		—			—			—			(2,332	)
Total financing activities		(25,157	)		—			203,789			(7,398	)		171,234
Effect of exchange rate on cash		—			—			(518	)		—			(518	)
Net decrease in cash		(33,086	)		(4,211	)		(15,627	)		—			(52,924	)
Cash at the beginning of period		43,781			4,278			49,620			—			97,679
Cash at the end of period	$	10,695		$	67		$	33,993		$	—		$	44,755

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Stock-Based Compensation - Summary of RSU and PSA Activity (Detail) (Restricted Stock Units (RSU) and Performance Share Awards (PSAs) [Member])	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Restricted Stock Units (RSU) and Performance Share Awards (PSAs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Beginning Balance	1,001,814	847,679
Granted	167,255	180,602
Forfeited	(38,458)	(36,435)
Shares delivered	(239,394)	(111,730)
Ending Balance	891,217	880,116

XML

Share Repurchases - Additional Information (Detail) (USD $) In Thousands, except Share data, unless otherwise specified	6 Months Ended	26 Months Ended
	Jun. 30, 2014	Jun. 30, 2014
Equity [Abstract]
Authorized a share repurchase under a stock repurchase plan	$ 50,000	$ 50,000
Share repurchase program expiration date	2016-05
Repurchases, shares	360,299	651,419
Repurchases, amount	$ 9,500	$ 14,006

XML

Condensed Consolidated Statements of Income (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Income Statement [Abstract]
Net sales	$ 445,341	$ 425,967	$ 901,062	$ 831,156
Energy and related sales, net	790	424	6,052	1,525
Total revenues	446,131	426,391	907,114	832,681
Costs of products sold	404,694	385,551	810,637	734,466
Gross profit	41,437	40,840	96,477	98,215
Selling, general and administrative expenses	32,314	34,528	65,865	68,015
Gains on dispositions of plant, equipment and timberlands, net	(1,482)	(19)	(2,291)	(92)
Operating income	10,605	6,331	32,903	30,292
Non-operating income (expense)
Interest expense	(4,762)	(4,514)	(9,574)	(8,355)
Interest income	52	46	113	148
Other, net	61	175	272	422
Total non-operating expense	(4,649)	(4,293)	(9,189)	(7,785)
Income before income taxes	5,956	2,038	23,714	22,507
Income tax provision	1,287	1,105	4,397	5,945
Net income	$ 4,669	$ 933	$ 19,317	$ 16,562
Earnings per share
Basic	$ 0.11	$ 0.02	$ 0.45	$ 0.38
Diluted	$ 0.11	$ 0.02	$ 0.44	$ 0.38
Cash dividends declared per common share	$ 0.11	$ 0.10	$ 0.22	$ 0.20
Weighted average shares outstanding
Basic	43,287	43,134	43,327	43,050
Diluted	44,136	44,202	44,251	44,119

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Earnings Per Share - Details of Basic and Diluted Earnings Per Share (EPS) (Detail) (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Earnings Per Share [Abstract]
Net income	$ 4,669	$ 933	$ 19,317	$ 16,562
Weighted average common shares outstanding used in basic EPS	43,287	43,134	43,327	43,050
Common shares issuable upon exercise of dilutive stock options and PSAs / RSUs	849	1,068	924	1,069
Weighted average common shares outstanding and common share equivalents used in diluted EPS	44,136	44,202	44,251	44,119
Earnings per share
Basic	$ 0.11	$ 0.02	$ 0.45	$ 0.38
Diluted	$ 0.11	$ 0.02	$ 0.44	$ 0.38

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Condensed Consolidated Statements of Cash Flows (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Operating activities
Net income	$ 19,317	$ 16,562
Adjustments to reconcile to net cash provided by operations:
Depreciation, depletion and amortization	36,893	32,024
Amortization of debt issue costs and original issue discount	656	649
Pension expense, net of unfunded benefits paid	3,330	6,433
Deferred income tax benefit	(2,724)	(971)
Gains on dispositions of plant, equipment and timberlands, net	(2,291)	(92)
Share-based compensation	3,617	3,587
Change in operating assets and liabilities
Accounts receivable	(23,805)	(20,008)
Inventories	(21,783)	2,071
Prepaid and other current assets	(6,937)	4,069
Accounts payable	(16,870)	7,357
Accruals and other current liabilities	(11,147)	(6,477)
Other	378	3,023
Net cash (used) provided by operating activities	(21,366)	48,227
Investing activities
Expenditures for purchases of plant, equipment and timberlands	(30,156)	(60,823)
Proceeds from disposals of plant, equipment and timberlands, net	2,360	92
Acquisition, net of cash acquired	0	(210,911)
Other	(100)	(225)
Net cash used by investing activities	(27,896)	(271,867)
Financing activities
Net borrowings under (repayments of) revolving credit facility	(25,425)	126,139
Payments of borrowing costs	0	(419)
Proceeds from term loan	0	56,091
Repurchases of common stock	(9,158)
Payments of dividends	(9,164)	(8,245)
Payments related to share-based compensation awards and other	(1,816)	(2,332)
Net cash (used) provided by financing activities	(45,563)	171,234
Effect of exchange rate changes on cash	(41)	(518)
Net decrease in cash and cash equivalents	(94,866)	(52,924)
Cash and cash equivalents at the beginning of period	122,882	97,679
Cash and cash equivalents at the end of period	28,016	44,755
Cash paid for:
Interest, net of amounts capitalized	9,011	7,836
Income taxes, net	$ 16,323	$ 5,466

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Long-Term Debt - Summary of Long-Term Debt (Parenthetical) (Detail)	6 Months Ended
	Jun. 30, 2014	Dec. 31, 2013
5.375% Notes, Due Oct. 2020 [Member]
Debt Instrument [Line Items]
Long-term debt, maturity date	Oct. 31, 2020
Percentage of aggregate principal amount of outstanding	5.375%	5.375%
2.05% Term Loan, Due Mar. 2023 [Member]
Debt Instrument [Line Items]
Long-term debt, maturity date	Mar. 31, 2023
Percentage of aggregate principal amount of outstanding	2.05%	2.05%
Revolving Credit Facility, Due Nov. 2016 [Member]
Debt Instrument [Line Items]
Long-term debt, maturity date	Nov. 30, 2016

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Asset Retirement Obligation (Tables)

6 Months Ended

Jun. 30, 2014

Asset Retirement Obligation Disclosure [Abstract]

Schedule of Asset Retirement Obligation

Following is a summary of activity recorded during the first six months of 2014 and 2013:

In thousands	2014			2013
Balance at January 1,	$	5,032		$	8,882
Accretion		77			164
Payments		(429	)		(2,332	)
Gain		(86	)		—
Balance at June 30,	$	4,594		$	6,714

Schedule of Consolidated Balance Sheets where Asset Retirement Obligations Recorded

The following table summarizes the line items in the accompanying condensed consolidated balance sheets where the asset retirement obligations are recorded:

In thousands	June 30 2014		December 31 2013
Other current liabilities	$	2,485	$	915
Other long-term liabilities		2,109		4,117
Total	$	4,594	$	5,032

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Fair Value of Financial Instruments - Additional Information (Detail) (5.375% Fixed Rate Bonds [Member], USD $) In Millions, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
5.375% Fixed Rate Bonds [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Amount of fixed rate debt	$ 250.0	$ 250.0
Percentage of aggregate principal amount of outstanding	5.375%	5.375%

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Commitments, Contingencies and Legal Proceedings

6 Months Ended

Jun. 30, 2014

Commitments And Contingencies Disclosure [Abstract]

Commitments, Contingencies and Legal Proceedings

16. COMMITMENTS, CONTINGENCIES AND LEGAL PROCEEDINGS

Fox River – Neenah, Wisconsin

Background. We have significant uncertainties associated with environmental claims arising out of the presence of polychlorinated biphenyls (“PCBs”) in sediments in the lower Fox River, on which our former Neenah facility was located, and in the Bay of Green Bay Wisconsin (collectively, the “Site”). The United States, the State of Wisconsin, and two Indian tribes (collectively, the “Governments”) seek to require (a) a cleanup of the Site

(“response actions”), (b) reimbursement of cleanup costs (“response costs”), and (c) natural resource damages (“NRDs”). They claim that we, together with seven other entities that have been formally notified that they are potentially responsible parties (“PRPs”) under CERCLA for response costs or NRDs, are jointly and severally responsible under the Comprehensive Environmental Response, Compensation and Liability Act (“CERCLA” or “Superfund”) for those response actions, response costs, and NRDs, all of which may total in excess of $1 billion.

The PRPs consist of us, Appvion, Inc. (formerly known as Appleton Papers Inc.), CBC Coating, Inc. (formerly known as Riverside Paper Corporation), Georgia-Pacific Consumer Products, L.P. (formerly known as Fort James Operating Company), Menasha Corporation, NCR Corporation (“NCR”), U.S. Paper Mills Corp., and WTM I Company.

The Governments have identified manufacturing and recycling of NCR^®-brand carbonless copy paper as the principal source of the PCBs in sediments at the Site. Our predecessor, the Bergstrom Paper Company and later we, operated a deinking paper mill in Neenah, Wisconsin. This mill received NCR^®-brand carbonless copy paper in its furnish and discharged PCBs to Little Lake Butte des Morts, an impoundment of the river at the upstream end of the Site.

The United States Environmental Protection Agency (“EPA”) has divided the Site into five “operable units”, including the most upstream (“OU1”) and four downstream reaches of the river and bay (“OU2-5”). OU1 extends from primarily Lake Winnebago to the dam at Appleton, and is comprised of Little Lake Butte des Morts. The Neenah Facility discharged its wastewater into this portion of the site.

We have resolved our liability for response actions and response costs associated with the permanent cleanup of Little Lake Butte des Morts through a consent decree, and amendments, entered in United States v. P.H. Glatfelter Co., No. 2:03-cv-949-LA (E.D. Wis.). Together with WTM I Company and with assistance from Menasha Corporation, we have completed that cleanup except for on-going operation and maintenance.

In November 2007, the EPA issued a unilateral administrative order for remedial action (“UAO”) to us and to seven other respondents directing us to implement the cleanup of the Site downstream of Little Lake Butte des Morts. Since that time, the district court has held that one of the respondents, Appvion, is not liable for this Site. In addition, the United States and the State of Wisconsin have entered into a settlement with another respondent, Georgia-Pacific LLP (“GP”), limiting GP’s responsibility to the downstream-most three miles of the river. Work has proceeded to implement the UAO, mostly funded by NCR and its indemnitors.

In January 2008, two of the UAO respondents, NCR and Appleton Papers Inc. (now known as Appvion), brought two actions, consolidated under the caption Appleton Papers Inc. v. George A. Whiting Paper Co., No. 2:08-cv-16-WCG (E.D. Wis.) (“Whiting Litigation”), that ultimately involved us and more than two dozen parties in litigation to allocate among the parties the responsibility for response actions, response costs, and NRDs for this Site. Most of the parties responsible for relatively small discharges of PCBs settled with the Governments, resolving their liability. On June 27, 2013, the district court entered a final judgment that (a) neither NCR nor Appvion may pursue any other party for contribution, (b) NCR owes us and the other non-settling parties “full contribution” for any amounts we may have to pay on account of response actions or response costs downstream of Little Lake Butte des Morts or on account of NRDs, (c) NCR is not liable for response costs, response actions, or NRDs in Little Lake Butte des Morts, and (d) NCR owes us reimbursement of $4.28 million in costs we incurred in the past. NCR and Appvion have appealed that judgment. We have filed a cross-appeal of that judgment (as have several other defendants), challenging those portions of the judgment with which we disagree, including the ruling that NCR is not liable for response costs, response actions, or NRDs in Little Lake Butte des Morts. Until the Whiting Litigation judgment is affirmed on appeal, all past and future costs or damages incurred by any person remain the subject of litigation against us.

In October 2010, the United States and the State of Wisconsin sued us and thirteen other defendants to recover an injunction requiring the UAO respondents to complete the response actions required by the UAO and all parties to reimburse past and future response costs incurred by the Governments as well as to pay NRDs. That case is captioned United States v. NCR Corp., No. 1:10-cv-910-WCG (E.D. Wis.) (“Government Action”). To date, litigation of the Government Action has been limited to the United States’ claim against the UAO respondents for a mandatory injunction to require implementation of the remaining work under the UAO, that is, completion of the remedy in the 33 miles of the river downstream of Little Lake Butte des Morts. Following a trial in December 2012, on May 1, 2013, the district court granted that injunction (“May 2013 Order”). The May 2013 Order directs the Company “jointly and severally” along with three other defendants that are also enjoined (NCR, WTM I Company, and Menasha Corporation) to comply with the UAO. An accompanying declaratory judgment declares the Company and those three defendants jointly and severally liable with three additional defendants (Georgia-Pacific, LLP, U.S. Paper Mills, Inc., and CBC Coatings, Inc.) that have entered into agreements with the United States governing those parties’ compliance with the UAO. The district court has denied NCR’s motion to require us to contribute to compliance with the injunction. We have appealed the May 2013 Order, as have NCR, WTM I, and Menasha.

On March 26, 2014, the United States lodged three proposed consent decrees under which all parties, other than NCR, GP, and us, would resolve their liability for this Site. Under the terms of those consent decrees, each of the Settling Defendants would pay a cash amount aggregating $56.6 million primarily for NRDs and past response costs, and would have no further obligations under the UAO or to satisfy any judgment in the Government Action.

Cost estimates. Estimates of the Site remediation change over time as we, or others, gain additional data and experience at the Site. In addition, disagreement exists over the likely costs for some of this work. Based upon estimates made by the Governments and independent estimates commissioned by various potentially responsible parties, we have no reason to disagree with the Governments’ assertion that total past and future response costs and NRDs at this site may exceed $1 billion and that $1.5 billion is a reasonable “outside estimate.” Much of that amount has already been incurred. As described below, some of that amount is NRDs. The parties implementing the response action under the UAO in the downstream part of the river estimate the cost of work done in 2013 and the future cost of work yet to be done totals approximately $360 million. The Governments seek to have that work done at a rate estimated to cost approximately $70 million each year from 2013 through 2016, and at lower rates afterward.

NRDs. The Governments’ NRD assessment documents claimed that we are jointly and severally responsible for NRDs with a value between $176 million and $333 million. The Governments now claim that this range should be inflated to 2009 dollars and then certain unreimbursed past assessment costs should be added, so that the range of their claim would be $287 million to $423 million. We deny liability for most of these NRDs and believe that even if anyone is liable, that we are not jointly and severally liable for the full amount. The May 2013 Order does not determine whether liability for NRDs would be joint and several. Moreover, we believe that the Natural Resource Trustees may not legally pursue this claim at this late date, as the limitations period for NRD claims is three years from discovery.

Reserves for the Site. As of June 30, 2014, our reserve for the Site, including our remediation and ongoing monitoring obligations in Little Lake Butte des Morts, our share of remediation of the rest of the Site, NRDs associated with PCB contamination at the Site and all pending, threatened or asserted and unasserted claims against us relating to PCB contamination at the Site totaled $16.3 million. Of our total reserve for the Fox River, $0.1 million is recorded in the accompanying condensed consolidated balance sheets under the caption “Environmental liabilities” and the remainder is recorded under the caption “Other long term liabilities.”

Although we believe that amounts already funded by us and WTM I to implement the Little Lake Butte des Morts remedy are adequate and no payments have been required since January 2009, there can be no assurance that these amounts will in fact suffice. WTM I has filed a bankruptcy petition in the Bankruptcy Court in Richmond; accordingly, there can be no assurance that WTM I will be able to fulfill its obligation to pay half of any additional costs, if required.

We do not believe that we will be allocated a significant percentage share of liability in any final equitable allocation of the response costs and NRDs. The accompanying condensed consolidated financial statements do not include reserves for defense costs for the Whiting Litigation, the Government Action, or any future defense costs related to our involvement at the Site, which could be significant.

In setting our reserve for the Site, we have assessed our legal defenses, including our successful defenses to the allegations made in the Whiting Litigation and the determination in the Whiting Litigation that NCR owes us “full contribution” for response costs and NRDs that we may become obligated to pay except in OU1, and assumed that we will not bear the entire cost of remediation or damages to the exclusion of other known parties at the Site, who are also potentially jointly and severally liable. The existence and ability of other parties to participate has also been taken into account in setting our reserve, and is generally based on our evaluation of recent publicly available financial information on certain of the responsible parties and any known insurance, indemnity or cost sharing agreements between responsible parties and third parties. In addition, our assessment is based upon the magnitude, nature, location and circumstances associated with the various discharges of PCBs to the river and the relationship of those discharges to identified contamination. We will continue to evaluate our exposure and the level of our reserves, including, but not limited to, our potential share of the costs and NRDs, if any, associated with the Site.

The amount and timing of future expenditures for environmental compliance, cleanup, remediation and personal injury, NRDs and property damage liabilities cannot be ascertained with any certainty due to, among other things, the unknown extent and nature of any contamination, the response actions that may ultimately be required, the availability of remediation equipment and landfill space, and the number and financial resources of any other PRPs.

Other Information. The Governments have published studies estimating the amount of PCBs discharged by each identified potentially responsible party (“PRP’s”) to the lower Fox River and Green Bay. These reports estimate our Neenah mill’s share of the mass of PCBs discharged to be as high as 27%. The district court in its May 2013 Order found the discharge mass estimates used in these studies not to be accurate. We believe that the Neenah mill’s absolute and relative contribution of PCB mass is significantly lower than the estimates set forth in these studies. The trial court in the Government Action has found that the Neenah mill discharged an unknown amount of PCBs.

In any event, based upon the rulings in the Whiting Litigation and the Government Action, neither of which endorsed an equitable allocation in proportion to the mass of PCBs discharged, we continue to believe that an allocation in proportion to mass of PCBs discharged would not constitute an equitable allocation of the potential liability for the contamination at the Fox River. We contend that other factors, such as the location of contamination, the location of discharge, and a party’s role in causing discharge, must be considered in order for the allocation to be equitable.

In the 1990s, we entered into interim cost-sharing agreements with six of the other PRPs, which provided for those PRPs to share certain costs relating to scientific studies of PCBs discharged at the Site (“Interim Cost Sharing Agreements”). These Interim Cost Sharing Agreements do not establish the final allocation of remediation costs incurred at the Site. Based upon our evaluation of the rulings in the Whiting Litigation as well as the volume, nature and location of the various discharges of PCBs at the Site and the relationship of those discharges to identified contamination, we believe our allocable share of liability at the Site is less than our share of costs under the Interim Cost Sharing Agreements.

Range of Reasonably Possible Outcomes. Our analysis of the range of reasonably possible outcomes is derived from all available information, including but not limited to decisions of the courts, official documents such as records of decision, discussions with the United States and other parties, as well as legal counsel and engineering consultants. Based on our analysis of the current records of decision and cost estimates for work to be performed at the Site, we believe that it is reasonably possible that our costs associated with the Fox River matter may exceed our cost estimates and the aggregate amounts accrued for the Fox River matter by amounts that are insignificant or that could range up to $275 million over an undeterminable period that could range beyond 10 years. We believe that the likelihood of an outcome in the upper end of the monetary range is significantly less than other possible outcomes within the range and that the possibility of an outcome in excess of the upper end of the monetary range is remote. The rulings in our favor in the Whiting Litigation, if sustained on appeal, suggest that outcomes in the upper end of the monetary range have become somewhat less likely, while adverse rulings on some issues in the Whiting Litigation and the Government Action and increases in cost estimates for some of the work may make an outcome in the upper end of the range more likely. The Company also believes that the effect of reading the Whiting Litigation decisions together with the May 2013 Order requires the ongoing compliance with the UAO to be funded by NCR, or to the extent that the Company is required to provide any such funding, that NCR will be required to reimburse the Company. There can be no assurance, however, that the May 2013 Order will not have a material adverse effect on the Company’s consolidated financial position, liquidity or results of operation.

Summary. Our current assessment is that we will be able to manage this environmental matter without a long-term, material adverse impact on the Company. This matter could, however, at any particular time or for any particular year or years, have a material adverse effect on our consolidated financial position, liquidity and/or results of operations or could result in a default under our debt covenants. Moreover, there can be no assurance that our reserves will be adequate to provide for future obligations related to this matter, that our share of costs and/or damages will not exceed our available resources, or that those obligations will not have a long-term, material adverse effect on our consolidated financial position, liquidity or results of operations. Should a court grant the United States or the State of Wisconsin relief that requires us individually either to perform directly or to contribute significant amounts towards remedial action downstream of Little Lake Butte des Morts or to NRDs, those developments could have a material adverse effect on our consolidated financial position, liquidity and results of operations and might result in a default under our loan covenants.

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Fair Value of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2014

Fair Value Disclosures [Abstract]

Carrying Value and Fair Value of Long-Term Debt

The following table sets forth carrying value and fair value of long-term debt:

	June 30, 2014				December 31, 2013
In thousands	Carrying Value		Fair Value		Carrying Value		Fair Value
Fixed-rate bonds	$	250,000	$	264,244	$	250,000	$	254,533
2.05% Term loan		58,285		58,224		58,785		57,952
Variable rate debt		107,153		107,153		133,540		133,540
Total	$	415,438	$	429,621	$	442,325	$	446,025

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Condensed Consolidating Financial Statements

6 Months Ended

Jun. 30, 2014

Condensed Financial Information Of Parent Company Only Disclosure [Abstract]

Condensed Consolidating Financial Statements

18. CONDENSED CONSOLIDATING FINANCIAL STATEMENTS

Our 5.375% Notes issued by P. H. Glatfelter Company (the “Parent”) are fully and unconditionally guaranteed, on a joint and several basis, by certain of our 100%-owned domestic subsidiaries, PHG Tea Leaves, Inc., Mollanvick, Inc., and Glatfelter Holdings, LLC. The guarantees are subject to certain customary release provisions including i) the designation of such subsidiary as an unrestricted or excluded subsidiary; (ii) in connection with any sale or disposition of the capital stock of the subsidiary guarantor; and (iii) upon our exercise of our legal defeasance option or our covenant defeasance option, all of which are more fully described in the Indenture dated as of October 3, 2012 among us, the Guarantors and US Bank National Association, as Trustee, relating to the 5.375% Notes. The following presents our condensed consolidating statements of income, including comprehensive income for the three months and six months ended June 30, 2014 and 2013, our condensed consolidating balance sheets as of June 30, 2014 and December 31, 2013 and condensed consolidating cash flows for the six months ended June 30, 2014 and 2013. These financial statements reflect the parent, the guarantor subsidiaries (on a combined basis), the non-guarantor subsidiaries (on a combined basis) and elimination entries necessary to combine such entities on a consolidated basis. Effective December 31, 2013, Glatfelter Pulpwood Company, previously a guarantor, was merged with and into the parent. Accordingly, all condensed consolidating financial statements have been restated to give effect to this merger as of the earliest period presented. In addition, the amounts of intercompany investing and financing activities and the related interest expense and interest income previously presented net for the six months ended June 30, 2013 have been presented on a gross basis to conform to the current year’s presentation.

Condensed Consolidating Statements of Income and Comprehensive Income for the

three months ended June 30, 2014

In thousands	Parent Company			Guarantors			Non Guarantors			Adjustments/ Eliminations			Consolidated
Net sales	$	217,864		$	4		$	227,478		$	(5	)	$	445,341
Energy and related sales, net		790			—			—			—			790
Total revenues		218,654			4			227,478			(5	)		446,131
Costs of products sold		215,756			4			188,939			(5	)		404,694
Gross profit		2,898			—			38,539			—			41,437
Selling, general and administrative expenses		16,555			143			15,616			—			32,314
Gains on dispositions of plant, equipment and timberlands, net		(162	)		(1,316	)		(4	)		—			(1,482	)
Operating income (loss)		(13,495	)		1,173			22,927			—			10,605
Other non-operating income (expense)
Interest expense		(4,756	)		—			(2,815	)		2,809			(4,762	)
Interest income		164			2,656			41			(2,809	)		52
Other, net		18,683			11			389			(19,022	)		61
Total other non-operating income (expense)		14,091			2,667			(2,385	)		(19,022	)		(4,649	)
Income before income taxes		596			3,840			20,542			(19,022	)		5,956
Income tax provision (benefit)		(4,073	)		715			4,645			—			1,287
Net income		4,669			3,125			15,897			(19,022	)		4,669
Other comprehensive income (loss)		3,026			(550	)		1,098			(548	)		3,026
Comprehensive income	$	7,695		$	2,575		$	16,995		$	(19,570	)	$	7,695

Condensed Consolidating Statements of Income and Comprehensive Income for the

three months ended June 30, 2013

In thousands	Parent Company			Guarantors			Non Guarantors			Adjustments/ Eliminations			Consolidated
Net sales	$	216,985		$	8		$	208,982		$	(8	)	$	425,967
Energy and related sales, net		424			—			—			—			424
Total revenues		217,409			8			208,982			(8	)		426,391
Costs of products sold		210,978			8			174,573			(8	)		385,551
Gross profit		6,431			—			34,409			—			40,840
Selling, general and administrative expenses		16,928			88			17,512			—			34,528
Gains on dispositions of plant, equipment and timberlands, net		(17	)		—			(2	)		—			(19	)
Operating income (loss)		(10,480	)		(88	)		16,899			—			6,331
Other non-operating income (expense)
Interest expense		(4,703	)		—			(1,672	)		1,861			(4,514	)
Interest income		176			1,727			4			(1,861	)		46
Other, net		12,139			(6	)		714			(12,672	)		175
Total other non-operating income (expense)		7,612			1,721			(954	)		(12,672	)		(4,293	)
Income (loss) before income taxes		(2,868	)		1,633			15,945			(12,672	)		2,038
Income tax provision (benefit)		(3,801	)		634			4,272			—			1,105
Net income		933			999			11,673			(12,672	)		933
Other comprehensive income		7,105			1,379			3,119			(4,498	)		7,105
Comprehensive income	$	8,038		$	2,378		$	14,792		$	(17,170	)	$	8,038

Condensed Consolidating Statements of Income and Comprehensive Income for the

six months ended June 30, 2014

In thousands	Parent Company			Guarantors			Non Guarantors			Adjustments/ Eliminations			Consolidated
Net sales	$	443,695		$	21		$	457,367		$	(21	)	$	901,062
Energy and related sales – net		6,052			—			—			—			6,052
Total revenues		449,747			21			457,367			(21	)		907,114
Costs of products sold		432,472			21			378,165			(21	)		810,637
Gross profit		17,275			—			79,202			—			96,477
Selling, general and administrative expenses		34,347			156			31,362			—			65,865
Gains on dispositions of plant, equipment and timberlands, net		(974	)		(1,317	)		—			—			(2,291	)
Operating income		(16,098	)		1,161			47,840			—			32,903
Other non-operating income (expense)
Interest expense		(9,494	)		—			(5,545	)		5,465			(9,574	)
Interest income		316			5,214			48			(5,465	)		113
Other, net		40,300			21			1,471			(41,520	)		272
Total other non-operating income (expense)		31,122			5,235			(4,026	)		(41,520	)		(9,189	)
Income before income taxes		15,024			6,396			43,814			(41,520	)		23,714
Income tax provision (benefit)		(4,293	)		1,628			7,062			—			4,397
Net income		19,317			4,768			36,752			(41,520	)		19,317
Other comprehensive income (loss)		5,991			(549	)		1,983			(1,434	)		5,991
Comprehensive income	$	25,308		$	4,219		$	38,735		$	(42,954	)	$	25,308

Condensed Consolidating Statements of Income and Comprehensive Income for the

six months ended June 30, 2013

In thousands	Parent Company			Guarantors			Non Guarantors			Adjustments/ Eliminations			Consolidated
Net sales	$	444,101		$	13		$	387,055		$	(13	)	$	831,156
Energy and related sales, net		1,525			—			—			—			1,525
Total revenues		445,626			13			387,055			(13	)		832,681
Costs of products sold		409,926			13			324,540			(13	)		734,466
Gross profit		35,700			—			62,515			—			98,215
Selling, general and administrative expenses		38,054			102			29,859			—			68,015
Gains on dispositions of plant, equipment and timberlands, net		(90	)		—			(2	)		—			(92	)
Operating income (loss)		(2,264	)		(102	)		32,658			—			30,292
Other non-operating income (expense)
Interest expense		(9,419	)		—			(2,485	)		3,549			(8,355	)
Interest income		260			3,416			22			(3,550	)		148
Other, net		24,095			(8	)		1,454			(25,119	)		422
Total other non-operating income (expense)		14,936			3,408			(1,009	)		(25,120	)		(7,785	)
Income before income taxes		12,672			3,306			31,649			(25,120	)		22,507
Income tax provision (benefit)		(3,890	)		1,308			8,527			—			5,945
Net income		16,562			1,998			23,122			(25,120	)		16,562
Other comprehensive loss		(584	)		(3,229	)		(4,859	)		8,088			(584	)
Comprehensive income (loss)	$	15,978		$	(1,231	)	$	18,263		$	(17,032	)	$	15,978

Condensed Consolidating Balance Sheet as of

June 30, 2014

In thousands	Parent Company		Guarantors		Non Guarantors		Adjustments/ Eliminations			Consolidated
Assets
Cash and cash equivalents	$	9,411	$	179	$	18,426	$	—		$	28,016
Other current assets		225,862		335,537		318,541		(366,211	)		513,729
Plant, equipment and timberlands, net		249,508		997		469,314		—			719,819
Other assets		1,021,078		234,602		209,890		(1,097,027	)		368,543
Total assets	$	1,505,859	$	571,315	$	1,016,171	$	(1,463,238	)	$	1,630,107
Liabilities and Shareholders’ Equity
Current liabilities	$	385,613	$	5,435	$	247,066	$	(374,307	)	$	263,807
Long-term debt		250,000		—		481,686		(318,069	)		413,617
Deferred income taxes		73,380		207		75,883		(9,465	)		140,005
Other long-term liabilities		104,283		—		12,809		3,003			120,095
Total liabilities		813,276		5,642		817,444		(698,838	)		937,524
Shareholders’ equity		692,583		565,673		198,727		(764,400	)		692,583
Total liabilities and shareholders’ equity	$	1,505,859	$	571,315	$	1,016,171	$	(1,463,238	)	$	1,630,107

Condensed Consolidating Balance Sheet as of

December 31, 2013

In thousands	Parent Company		Guarantors			Non Guarantors		Adjustments/ Eliminations			Consolidated
Assets
Cash and cash equivalents	$	56,216	$	501		$	66,165	$	—		$	122,882
Other current assets		208,814		327,152			253,779		(326,045	)		463,700
Plant, equipment and timberlands, net		247,243		1,054			475,043		—			723,340
Other assets		973,748		236,411			214,301		(1,055,972	)		368,488
Total assets	$	1,486,021	$	565,118		$	1,009,288	$	(1,382,017	)	$	1,678,410
Liabilities and Shareholders’ Equity
Current liabilities	$	375,535	$	2,855		$	247,855	$	(337,878	)	$	288,367
Long-term debt		250,000		—			513,120		(320,795	)		442,325
Deferred income taxes		70,989		(283	)		78,633		(8,319	)		141,020
Other long-term liabilities		105,021		—			13,792		3,409			122,222
Total liabilities		801,545		2,572			853,400		(663,583	)		993,934
Shareholders’ equity		684,476		562,546			155,888		(718,434	)		684,476
Total liabilities and shareholders’ equity	$	1,486,021	$	565,118		$	1,009,288	$	(1,382,017	)	$	1,678,410

Condensed Consolidating Statement of Cash Flows for the six

months ended June 30, 2014

In thousands	Parent Company			Guarantors			Non Guarantors			Adjustments/ Eliminations			Consolidated
Net cash provided (used) by
Operating activities	$	(15,054	)	$	1,773		$	(8,085	)	$	—		$	(21,366	)
Investing activities
Expenditures for purchases of plant, equipment and timberlands		(15,963	)		—			(14,193	)		—			(30,156	)
Proceeds from disposal plant, equipment and timberlands, net		1,000			1,355			5			—			2,360
Advances of intercompany loans		—			(3,450	)		—			3,450			—
Other		(100	)		—			—			—			(100	)
Total investing activities		(15,063	)		(2,095	)		(14,188	)		3,450			(27,896	)
Financing activities
Net repayments of indebtedness		—			—			(25,425	)		—			(25,425	)
Payment of dividends to shareholders		(9,164	)		—			—			—			(9,164	)
Repurchases of common stock		(9,158	)		—			—			—			(9,158	)
Borrowings of intercompany loans		3,450			—			—			(3,450	)		—
Payments related to share-based compensation awards and other		(1,816	)		—			—			—			(1,816	)
Total financing activities		(16,688	)		—			(25,425	)		(3,450	)		(45,563	)
Effect of exchange rate on cash		—			—			(41	)		—			(41	)
Net decrease in cash		(46,805	)		(322	)		(47,739	)		—			(94,866	)
Cash at the beginning of period		56,216			501			66,165			—			122,882
Cash at the end of period	$	9,411		$	179		$	18,426		$	—		$	28,016

Condensed Consolidating Statement of Cash Flows for the six

months ended June 30, 2013

In thousands	Parent Company			Guarantors			Non Guarantors			Adjustments/ Eliminations			Consolidated
Net cash provided (used) by
Operating activities	$	13,825		$	2,187		$	32,215		$	—		$	48,227
Investing activities
Expenditures for purchases of plant, equipment and timberlands		(20,618	)		—			(40,205	)		—			(60,823	)
Proceeds from disposal plant, equipment and timberlands, net		89			—			3			—			92
Repayments from intercompany loans		—			28,750			—			(28,750	)		—
Advances of intercompany loans		(1,000	)		(35,057	)		—			36,057			—
Intecompany capital contributed		—			(91	)		—			91			—
Acquisitions, net of cash acquired		—			—			(210,911	)		—			(210,911	)
Other		(225	)		—			—			—			(225	)
Total investing activities		(21,754	)		(6,398	)		(251,113	)		7,398			(271,867	)
Financing activities
Net proceeds from indebtedness		—			—			182,230			—			182,230
Payments of note offering costs		(160	)		—			(259	)		—			(419	)
Payment of dividends to shareholders		(8,245	)		—			—			—			(8,245	)
Repayments of intercompany loans		(14,750	)		—			(14,000	)		28,750			—
Borrowings of intercompany loans		330			—			35,727			(36,057	)		—
Intercompany capital received		—			—			91			(91	)		—
Proceeds from stock options exercised and other		(2,332	)		—			—			—			(2,332	)
Total financing activities		(25,157	)		—			203,789			(7,398	)		171,234
Effect of exchange rate on cash		—			—			(518	)		—			(518	)
Net decrease in cash		(33,086	)		(4,211	)		(15,627	)		—			(52,924	)
Cash at the beginning of period		43,781			4,278			49,620			—			97,679
Cash at the end of period	$	10,695		$	67		$	33,993		$	—		$	44,755

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Financial Derivatives and Hedging Activities - Fair Values of Derivative Instruments (Detail) (Forward Foreign Currency Exchange Contracts [Member], USD $) In Thousands, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
Designated as Hedging [Member] | Prepaid Expenses and Other Current Assets [Member]
Derivatives, Fair Value [Line Items]
Derivative asset, fair value	$ 321
Designated as Hedging [Member] | Other Current Liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative liability, fair value	155	1,163
Not Designated as Hedging [Member] | Prepaid Expenses and Other Current Assets [Member]
Derivatives, Fair Value [Line Items]
Derivative asset, fair value	15	36
Not Designated as Hedging [Member] | Other Current Liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative liability, fair value	$ 80	$ 46

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Organization

6 Months Ended

Jun. 30, 2014

Accounting Policies [Abstract]

Organization

1. ORGANIZATION

P. H. Glatfelter Company and subsidiaries (“Glatfelter”) is a manufacturer of specialty papers and fiber-based engineered materials. Headquartered in York, Pennsylvania, our manufacturing facilities are located in Spring Grove, Pennsylvania; Chillicothe and Freemont, Ohio; Gatineau, Quebec, Canada; Lydney, England; Caerphilly, Wales; Gernsbach, Falkenhagen and Heidenau, Germany; Scaër, France; and the Philippines. Our products are marketed worldwide, either through wholesale paper merchants, brokers and agents, or directly to customers.

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Condensed Consolidated Statements of Comprehensive Income (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 4,669	$ 933	$ 19,317	$ 16,562
Foreign currency translation adjustments	(533)	3,727	195	(8,230)
Net change in:
Deferred gains (losses) on cash flow hedges, net of taxes of $(408), $136, $(381) and $(34), respectively	1,080	(395)	1,001	46
Unrecognized retirement obligations, net of taxes of $(1,513), $(2,263), $(2,928) and $(4,576), respectively	2,479	3,773	4,795	7,600
Other comprehensive income (loss)	3,026	7,105	5,991	(584)
Comprehensive income	$ 7,695	$ 8,038	$ 25,308	$ 15,978

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Long-Term Debt

6 Months Ended

Jun. 30, 2014

Debt Disclosure [Abstract]

Long-Term Debt

11. LONG-TERM DEBT

Long-term debt is summarized as follows:

In thousands	June 30 2014			December 31 2013
Revolving credit facility, due Nov. 2016	$	107,153		$	133,540
5.375% Notes, due Oct. 2020		250,000			250,000
2.05% Term Loan, due Mar. 2023		58,285			58,785
Total long-term debt		415,438			442,325
Less current portion		(1,821	)		—
Long-term debt, net of current portion	$	413,617		$	442,325

On November 21, 2011, we entered into an amendment to our revolving credit agreement with a consortium of banks (the “Revolving Credit Facility”) which increased the amount available for borrowing to $350 million, extended the maturity of the facility to November 21, 2016, and instituted a lower interest rate pricing grid.

For all U.S. dollar denominated borrowings under the Revolving Credit Facility, the borrowing rate is, at our option, (a) the bank’s base rate which is equal to the greater of i) the prime rate; ii) the federal funds rate plus 50 basis points plus an applicable spread ranging from 25 basis points to 125 basis points based on our corporate credit ratings determined by Standard & Poor’s Rating Services and Moody’s Investor Service, Inc. (the “Corporate Credit Rating”); or iii) the daily Euro-rate plus 100 basis points; or (b) the daily Euro-rate plus an applicable margin ranging from 125 basis points to 225 basis points based on the Corporate Credit Rating. For non-US dollar denominated borrowings, interest is based on (b) above.

The Revolving Credit Facility contains a number of customary covenants for financings of this type that, among other things, restrict our ability to dispose of or create liens on assets, incur additional indebtedness, repay other indebtedness, limits certain intercompany financing arrangements, make acquisitions and engage in mergers or consolidations. We are also required to comply with specified financial tests and ratios including: i) maximum net debt to earnings before interest, taxes, depreciation and amortization (“EBITDA”) ratio (the “leverage ratio”); ii) a consolidated EBITDA to interest expense ratio; and iii) beginning December 31, 2015, a minimum liquidity ratio. The most restrictive of our covenants is a maximum leverage ratio of 3.5x. As of June 30, 2014, the leverage ratio, as calculated in accordance with the definition in our credit agreement, was 2.44x, within the limits set forth in our credit agreement. A breach of these requirements would give rise to certain remedies under the Revolving Credit Facility, among which are the termination of the agreement and accelerated repayment of the outstanding borrowings plus accrued and unpaid interest under the credit facility.

On October 3, 2012, we completed a private placement offering of $250.0 million aggregate principal amount of 5.375% Senior Notes due 2020 (the “5.375% Notes”). The 5.375% Notes are fully and unconditionally guaranteed, jointly and severally, by PHG Tea Leaves, Inc., Mollanvick, Inc., and Glatfelter Holdings, LLC (the “Guarantors”). The net proceeds from this were used to refinance our previous $200.0 million, to repay amounts outstanding under our revolving credit facility and for general corporate purposes.

Interest on the 5.375% Notes is payable semiannually in arrears on April 15 and October 15, commencing on April 15, 2013.

The 5.375% Notes are redeemable, in whole or in part, at anytime on or after October 15, 2016 at the redemption prices specified in the applicable Indenture. Prior to October 15, 2016, we may redeem some or all of the Notes at a “make-whole” premium as specified in the Indenture. These Notes and the guarantees of the notes are senior obligations of the Company and the Guarantors, respectively, rank equally in right of payment with future senior indebtedness of the Company and the Guarantors and will mature on October 15, 2020.

The 5.375% Notes contain various covenants customary to indebtedness of this nature including limitations on i) the amount of indebtedness that may be incurred; ii) certain restricted payments including common stock dividends; iii) distributions from certain subsidiaries; iv) sales of assets; v) transactions amongst subsidiaries; and vi) incurrence of liens on assets. In addition, the 5.375% Notes contain cross default provisions that could result in all such notes becoming due and payable in the event of a failure to repay debt outstanding under the Revolving Credit Agreement at maturity or a default under the Revolving Credit Agreement that accelerates the debt outstanding thereunder. As of June 30, 2014, we met all of the requirements of our debt covenants.

On April 11, 2013, Glatfelter Gernsbach GmbH & Co. KG (“Gernsbach”), a wholly-owned subsidiary of ours, entered into an agreement with IKB Deutsche Industriebank AG, Düsseldorf (“IKB”), pursuant to which Gernsbach borrowed from IKB approximately €42.7 million (or $57.6 million) aggregate principal amount (the “IKB Loan”).

The IKB Loan, guaranteed in full by us, is repayable in 32 quarterly installments beginning on June 30, 2015 and ending on March 31, 2023 and will bear interest at a rate of 2.05% per annum. Interest on the IKB Loan or portion thereof is payable quarterly in each year of the term of the loan with interest accruing from the date the loan or portion thereof is drawn.

The IKB Loan provides for representations, warranties and covenants customary for financings of this type. The financial covenants contained in the IBK Loan, which relate to the minimum ratio of consolidated EBITDA to consolidated interest expense and the maximum ratio of consolidated total net debt to consolidated adjusted EBITDA, will be calculated by reference to our Amended and Restated Credit Agreement, dated November 21, 2011.

P. H. Glatfelter Company guarantees all debt obligations of its subsidiaries. All such obligations are recorded in these condensed consolidated financial statements.

As of June 30, 2014 and December 31, 2013, we had $5.2 million of letters of credit issued to us by certain financial institutions. The letters of credit, which reduce amounts available under our revolving credit facility, primarily provide financial assurances for the benefit of certain state workers compensation insurance agencies in conjunction with our self-insurance program. We bear the credit risk on this amount to the extent that we do not comply with the provisions of certain agreements. No amounts are outstanding under the letters of credit.

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Document and Entity Information	6 Months Ended
	Jun. 30, 2014	Jul. 30, 2014
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2014
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	Q2
Trading Symbol	GLT
Entity Registrant Name	GLATFELTER P H CO
Entity Central Index Key	0000041719
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		42,904,447

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Asset Retirement Obligation

6 Months Ended

Jun. 30, 2014

Asset Retirement Obligation Disclosure [Abstract]

Asset Retirement Obligation

12. ASSET RETIREMENT OBLIGATION

During 2008, we recorded $11.5 million, net present value, of asset retirement obligations related to the legal requirement to close several lagoons at the Spring Grove, PA facility. Historically, lagoons were used to dispose of residual waste material. Closure of the lagoons is expected to be completed in 2016 and will be accomplished by filling the lagoons, installing a non-permeable liner which will be covered with soil to construct the required cap over the lagoons. The retirement obligation was accrued with a corresponding increase in the carrying value of the property, equipment and timberlands caption on the consolidated balance sheet. The amount capitalized is being amortized as a charge to operations on the straight-line basis in relation to the expected closure period. Following is a summary of activity recorded during the first six months of 2014 and 2013:

In thousands	2014			2013
Balance at January 1,	$	5,032		$	8,882
Accretion		77			164
Payments		(429	)		(2,332	)
Gain		(86	)		—
Balance at June 30,	$	4,594		$	6,714

The following table summarizes the line items in the accompanying condensed consolidated balance sheets where the asset retirement obligations are recorded:

In thousands	June 30 2014		December 31 2013
Other current liabilities	$	2,485	$	915
Other long-term liabilities		2,109		4,117
Total	$	4,594	$	5,032

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Condensed Consolidated Statements of Comprehensive Income (Parenthetical) (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Statement Of Income And Comprehensive Income [Abstract]
Taxes on deferred gains (losses) on cash flow hedges	$ (408)	$ 136	$ (381)	$ (34)
Taxes on unrecognized retirement obligations	$ (1,513)	$ (2,263)	$ (2,928)	$ (4,576)

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Accumulated Other Comprehensive Income

6 Months Ended

Jun. 30, 2014

Equity [Abstract]

Accumulated Other Comprehensive Income

6. ACCUMULATED OTHER COMPREHENSIVE INCOME

The following table sets forth details of the changes in accumulated other comprehensive income (losses) for the three months and six months ended June 30, 2014 and 2013.

in thousands	Currency Translation Adjustments			Unrealized gain (loss) on cash flow hedges			Change in pensions			Change in other postretirement defined benefit plans			Total
Balance at April 1, 2014	$	15,869		$	(1,020	)	$	(87,266	)	$	25		$	(72,392	)
Other comprehensive income before reclassifications (net of tax)		(533	)		618			—			—			85
Amounts reclassified from accumulated other comprehensive income (net of tax)		—			462			2,444			35			2,941
Net current period other comprehensive income (loss)		(533	)		1,080			2,444			35			3,026
Balance at June 30, 2014	$	15,336		$	60		$	(84,822	)	$	60		$	(69,366	)
Balance at April 1, 2013	$	(11,642	)	$	17		$	(155,781	)	$	(4,249	)	$	(171,655	)
Other comprehensive income before reclassifications (net of tax)		3,727			(531	)		—			—			3,196
Amounts reclassified from accumulated other comprehensive income (net of tax)		—			136			3,725			48			3,909
Net current period other comprehensive income (loss)		3,727			(395	)		3,725			48			7,105
Balance at June 30, 2013	$	(7,915	)	$	(378	)	$	(152,056	)	$	(4,201	)	$	(164,550	)
Balance at January 1, 2014	$	15,141		$	(941	)	$	(89,547	)	$	(10	)	$	(75,357	)
Other comprehensive income before reclassifications (net of tax)		195			215			—			—			410
Amounts reclassified from accumulated other comprehensive income (net of tax)		—			786			4,725			70			5,581
Net current period other comprehensive income (loss)		195			1,001			4,725			70			5,991
Balance at June 30, 2014	$	15,336		$	60		$	(84,822	)	$	60		$	(69,366	)
Balance at January 1, 2013	$	315		$	(424	)	$	(159,560	)	$	(4,297	)	$	(163,966	)
Other comprehensive income before reclassifications (net of tax)		(8,230	)		(141	)		—			—			(8,371	)
Amounts reclassified from accumulated other comprehensive income (net of tax)		—			187			7,504			96			7,787
Net current period other comprehensive income (loss)		(8,230	)		46			7,504			96			(584	)
Balance at June 30, 2013	$	(7,915	)	$	(378	)	$	(152,056	)	$	(4,201	)	$	(164,550	)

Reclassifications out of accumulated other comprehensive income were as follows:

	Three months ended June 30						Six months ended June 30
In thousands	2014			2013			2014			2013
Description													Line Item in Statements of Income
Cash flow hedges (Note 14)
(Gains) losses on cash flow hedges	$	641		$	188		$	1,090		$	258		Costs of products sold
		(179	)		(52	)		(304	)		(71	)	Income tax provision
Net of tax		462			136			786			187
Retirement plan obligations (Note 9)
Amortization of deferred benefit pension plan items
Prior service costs		695			613			1,243			1,226		Costs of products sold
		226			161			412			322		Selling, general and administrative
Actuarial losses		2,233			4,025			4,429			8,139		Costs of products sold
		781			1,160			1,525			2,335		Selling, general and administrative
		3,935			5,959			7,609			12,022
		(1,491	)		(2,234	)		(2,884	)		(4,518	)	Income tax provision
Net of tax		2,444			3,725			4,725			7,504
Amortization of deferred benefit other plan items
Prior service costs		(59	)		(100	)		(118	)		(200	)	Costs of products sold
		(13	)		(25	)		(26	)		(50	)	Selling, general and administrative
Actuarial losses		106			155			212			310		Costs of products sold
		23			47			46			94		Selling, general and administrative
		57			77			114			154
		(22	)		(29	)		(44	)		(58	)	Income tax provision
Net of tax		35			48			70			96
Total reclassifications, net of tax	$	2,941		$	3,909		$	5,581		$	7,787

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Earnings Per Share

6 Months Ended

Jun. 30, 2014

Earnings Per Share [Abstract]

Earnings Per Share

5. EARNINGS PER SHARE

The following table sets forth the details of basic and diluted earnings per share (“EPS”):

	Three months ended June 30
In thousands, except per share	2014		2013
Net income	$	4,669	$	933
Weighted average common shares outstanding used in basic EPS		43,287		43,134
Common shares issuable upon exercise of dilutive stock options and PSAs / RSUs		849		1,068
Weighted average common shares outstanding and common share equivalents used in diluted EPS		44,136		44,202
Earnings per share
Basic	$	0.11	$	0.02
Diluted		0.11		0.02

	Six months ended June 30
In thousands, except per share	2014		2013
Net income	$	19,317	$	16,562
Weighted average common shares outstanding used in basic EPS		43,327		43,050
Common shares issuable upon exercise of dilutive stock options and PSAs / RSUs		924		1,069
Weighted average common shares outstanding and common share equivalents used in diluted EPS		44,251		44,119
Earnings per share
Basic	$	0.45	$	0.38
Diluted		0.44		0.38

The following table sets forth potential common shares outstanding for stock options and restricted stock units that were not included in the computation of diluted EPS for the period indicated, because their effect would be anti-dilutive:

	June 30
	2014		2013
Three months ended		279		—
Six months ended		273		—

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Segment Information

6 Months Ended

Jun. 30, 2014

Segment Reporting [Abstract]

Segment Information

17. SEGMENT INFORMATION

The following tables sets forth financial and other information by business unit for the period indicated:

Three months ended June 30 Dollars in millions	Composite Fibers				Advanced Airlaid Materials				Specialty Papers						Other and Unallocated						Total
	2014		2013		2014		2013		2014			2013			2014			2013			2014			2013
Net sales	$	157.0	$	142.6	$	70.5	$	66.4	$	217.9		$	217.0		$	—		$	—		$	445.3		$	426.0
Energy and related sales, net		—		—		—		—		0.8			0.4			—			—			0.8			0.4
Total revenue		157.0		142.6		70.5		66.4		218.7			217.4			—			—			446.1			426.4
Cost of products sold		126.9		114.6		62.0		58.8		214.1			207.9			1.7			4.2			404.7			385.6
Gross profit (loss)		30.1		27.9		8.5		7.6		4.6			9.5			(1.7	)		(4.2	)		41.4			40.8
SG&A		12.8		11.5		2.3		2.4		11.8			13.4			5.4			7.3			32.3			34.5
Gains on dispositions of plant, equipment and timberlands, net		—		—		—		—		—			—			(1.5	)		—			(1.5	)		—
Total operating income (loss)		17.3		16.4		6.2		5.2		(7.2	)		(3.9	)		(5.6	)		(11.5	)		10.6			6.3
Non-operating expense		—		—		—		—		—			—			(4.6	)		(4.3	)		(4.6	)		(4.3	)
Income (loss) before income taxes	$	17.3	$	16.4	$	6.2	$	5.2	$	(7.2	)	$	(3.9	)	$	(10.2	)	$	(15.8	)	$	6.0		$	2.0
Supplementary Data
Net tons sold (thousands)		39.4		35.0		24.6		23.7		190.7			195.7			—			—			254.8			254.4
Depreciation, depletion and amortization	$	7.6	$	5.9	$	2.3	$	2.2	$	7.9		$	8.3		$	0.5		$	0.2		$	18.3		$	16.7
Capital expenditures		5.4		18.8		1.4		1.9		8.6			8.2			0.3			0.6			15.7			29.4
Six months ended June 30 Dollars in millions	Composite Fibers				Advanced Airlaid Materials				Specialty Papers						Other and Unallocated						Total
	2014		2013		2014		2013		2014			2013			2014			2013			2014			2013
Net sales	$	315.6	$	254.4	$	141.8	$	132.7	$	443.7		$	444.1		$	—		$	—		$	901.1		$	831.2
Energy and related sales, net		—		—		—		—		6.1			1.5			—			—			6.1			1.5
Total revenue		315.6		254.4		141.8		132.7		449.8			445.6			—			—			907.1			832.7
Cost of products sold		252.9		205.0		125.1		118.4		429.1			403.4			3.5			7.7			810.6			734.5
Gross profit (loss)		62.7		49.4		16.7		14.3		20.7			42.3			(3.5	)		(7.7	)		96.5			98.2
SG&A		26.1		21.3		4.7		4.5		25.5			27.9			9.6			14.3			65.9			68.0
Gains on dispositions of plant, equipment and timberlands, net		—		—		—		—		—			—			(2.3	)		(0.1	)		(2.3	)		(0.1	)
Total operating income (loss)		36.6		28.1		12.0		9.8		(4.8	)		14.4			(10.8	)		(21.9	)		32.9			30.3
Non-operating expense		—		—		—		—		—			—			(9.2	)		(7.8	)		(9.2	)		(7.8	)
Income (loss) before income taxes	$	36.6	$	28.1	$	12.0	$	9.8	$	(4.8	)	$	14.4		$	(20.0	)	$	(29.7	)	$	23.7		$	22.5
Supplementary Data
Net tons sold (thousands)		79.4		57.6		49.7		47.6		392.9			398.0			—			—			522.1			503.2
Depreciation, depletion and amortization	$	15.3	$	10.6	$	4.6	$	4.4	$	16.1		$	16.6		$	0.9		$	0.4		$	36.9		$	32.0
Capital expenditures		11.4		36.2		2.9		4.0		14.8			16.8			1.1			3.8			30.2			60.8

The sum of individual amounts set forth above may not agree to the consolidated financial statements included herein due to rounding.

On April 30, 2013, we completed the acquisition of Dresden for $211 million. Dresden’s results are included prospectively from the acquisition date as part of the Composite Fibers business unit. For additional information related to this acquisition, refer to Note 3 – Acquisition.

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Fair Value of Financial Instruments

6 Months Ended

Jun. 30, 2014

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

13. FAIR VALUE OF FINANCIAL INSTRUMENTS

The amounts reported on the condensed consolidated balance sheets for cash and cash equivalents and accounts receivable approximate fair value. The following table sets forth carrying value and fair value of long-term debt:

	June 30, 2014				December 31, 2013
In thousands	Carrying Value		Fair Value		Carrying Value		Fair Value
Fixed-rate bonds	$	250,000	$	264,244	$	250,000	$	254,533
2.05% Term loan		58,285		58,224		58,785		57,952
Variable rate debt		107,153		107,153		133,540		133,540
Total	$	415,438	$	429,621	$	442,325	$	446,025

As of June 30, 2014, and December 31, 2013, we had $250.0 million of 5.375% fixed rate bonds. These bonds are publicly registered, but thinly traded. Accordingly, the values set forth above for the bonds, as well as our other debt instruments, are based on observable inputs and other relevant market data (Level 2). The fair value of financial derivatives is set forth below in Note 14.

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Retirement Plans and Other Post-Retirement Benefits

6 Months Ended

Jun. 30, 2014

Compensation And Retirement Disclosure [Abstract]

Retirement Plans and Other Post-Retirement Benefits

9. RETIREMENT PLANS AND OTHER POST-RETIREMENT BENEFITS

The following tables provide information with respect to the net periodic costs of our pension and post retirement medical benefit plans.

	Three months ended June 30
In thousands	2014			2013
Pension Benefits
Service cost	$	2,504		$	2,585
Interest cost		6,309			5,480
Expected return on plan assets		(10,931	)		(10,810	)
Amortization of prior service cost		921			774
Amortization of unrecognized loss		3,014			5,185
Net periodic benefit cost	$	1,817		$	3,214
Other Benefits
Service cost	$	615		$	789
Interest cost		598			545
Amortization of prior service cost		(72	)		(125	)
Amortization of unrecognized loss		129			202
Net periodic benefit cost	$	1,270		$	1,411
	Six months ended June 30
In thousands	2014			2013
Pension Benefits
Service cost	$	5,208		$	5,796
Interest cost		12,480			11,000
Expected return on plan assets		(21,938	)		(21,713	)
Amortization of prior service cost		1,655			1,548
Amortization of unrecognized loss		5,954			10,474
Net periodic benefit cost	$	3,359		$	7,105
Other Benefits
Service cost	$	1,230		$	1,578
Interest cost		1,196			1,090
Amortization of prior service cost		(144	)		(250	)
Amortization of unrecognized loss		258			404
Net periodic benefit cost	$	2,540		$	2,822

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Long-Term Debt - Additional Information (Detail)	0 Months Ended	6 Months Ended				6 Months Ended				6 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2014 USD ($)	Jun. 30, 2014 IKB Loan [Member] Installment	Apr. 11, 2013 IKB Loan [Member] USD ($)	Apr. 11, 2013 IKB Loan [Member] EUR (€)	Jun. 30, 2014 Maximum [Member]	Jun. 30, 2014 Federal Funds Rate [Member]	Jun. 30, 2014 5.375% Notes [Member]	Oct. 03, 2012 5.375% Notes [Member] USD ($)	Jun. 30, 2014 Revolving Credit Facility [Member]	Nov. 21, 2011 Revolving Credit Facility [Member] USD ($)	Jun. 30, 2014 Revolving Credit Facility, Due Nov. 2016 [Member]	Jun. 30, 2014 Revolving Credit Facility, Due Nov. 2016 [Member] Minimum [Member]	Jun. 30, 2014 Revolving Credit Facility, Due Nov. 2016 [Member] Maximum [Member]	Jun. 30, 2014 Revolving Credit Facility, Due Nov. 2016 [Member] Daily Euro Rate [Member] Minimum [Member]	Jun. 30, 2014 Revolving Credit Facility, Due Nov. 2016 [Member] Daily Euro Rate [Member] Maximum [Member]	Jun. 30, 2014 Letters of Credit [Member] USD ($)	Dec. 31, 2013 Letters of Credit [Member] USD ($)
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity											$ 350,000,000
Debt instrument maturity date								Oct. 15, 2020		Nov. 21, 2016		Nov. 30, 2016
Federal fund rate spread							0.50%						0.25%	1.25%	1.25%	2.25%
Margin over Euro-rate		1.00%
Leverage ratio	2.44					3.50
Aggregate principal amount				57,600,000	42,700,000				250,000,000
Percentage of aggregate principal amount of outstanding			2.05%					5.375%	5.375%
Net proceeds used to refinance previous debt		200,000,000
Frequency of interest payable								Semiannually
Debt instrument redemption								The 5.375% Notes are redeemable, in whole or in part, at anytime on or after October 15, 2016 at the redemption prices specified in the applicable Indenture. Prior to October 15, 2016, we may redeem some or all of the Notes at a "make-whole" premium as specified in the Indenture.
Number of installments			32
Installments beginning date			Jun. 30, 2015
Installments ending date			Mar. 31, 2023
Letters of credit issued																	5,200,000	5,200,000
Letters of credit outstanding																	$ 0

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Income Taxes

6 Months Ended

Jun. 30, 2014

Income Tax Disclosure [Abstract]

Income Taxes

7. INCOME TAXES

Income taxes are recognized for the amount of taxes payable or refundable for the current year and deferred tax liabilities and assets for the future tax consequences of events that have been recognized in our consolidated financial statements or tax returns. The effects of income taxes are measured based on enacted tax laws and rates.

As of June 30, 2014 and December 31, 2013, we had $14.4 million and $14.9 million of gross unrecognized tax benefits. As of June 30, 2014, if such benefits were to be recognized, approximately $14.4 million would be recorded as a component of income tax expense, thereby affecting our effective tax rate.

We, or one of our subsidiaries, file income tax returns with the United States Internal Revenue Service, as well as various state and foreign authorities.

The following table summarizes, by major jurisdiction, tax years that remain subject to examination:

	Open Tax Years
Jurisdiction	Examinations not yet initiated		Examination in progress
United States
Federal		2010, 2013		2011 -2012
State		2009 - 2013		N/A
Canada (1)		2010 - 2013		2009
Germany (1)		2012 - 2013		2007 - 2011
France		2010, 2013		2011 - 2012
United Kingdom		2010 - 2013		N/A
Philippines		2012 - 2013		2011

(1) – includes provincial or similar local jurisdictions, as applicable

The amount of income taxes we pay is subject to ongoing audits by federal, state and foreign tax authorities, which often result in proposed assessments. Management performs a comprehensive review of its global tax positions on a quarterly basis and accrues amounts for uncertain tax positions. Based on these reviews and the result of discussions and resolutions of matters with certain tax authorities and the closure of tax years subject to tax audit, reserves are adjusted as necessary. However, future results may include favorable or unfavorable adjustments to our estimated tax liabilities in the period the assessments are determined or resolved or as such statutes are closed. Due to potential for resolution of federal, state and foreign examinations, and the lapse of various statutes of limitation, it is reasonably possible our gross unrecognized tax benefits balance may decrease within the next twelve months by a range of zero to $5.2 million. Substantially all of this range relates to tax positions taken in the U.S. and Germany.

We recognize interest and penalties related to uncertain tax positions as income tax expense. The following table summarizes information related to interest and penalties on uncertain tax positions:

	Six months ended June 30
In millions	2014		2013
Interest expense	$	0.1	$	0.3
Penalties		—		—
	June 30 2014		December 31 2013
Accrued interest payable	$	0.7	$	0.6

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Stock-Based Compensation

6 Months Ended

Jun. 30, 2014

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Stock-Based Compensation

8. STOCK-BASED COMPENSATION

The P. H. Glatfelter Amended and Restated Long Term Incentive Plan (the “LTIP”) provides for the issuance of Glatfelter common stock to eligible participants in the form of restricted stock units, restricted stock awards, non-qualified stock options, performance shares, incentive stock options and performance units.

Pursuant to terms of the LTIP, we have issued to eligible participants restricted stock units, performance share awards and stock only stock appreciation rights.

Restricted Stock Units (“RSU”) and Performance Share Awards (“PSAs”) Awards of RSUs and PSAs are made under our LTIP. The RSUs vest on the passage of time, generally on a graded scale over a three, four, and five-year period, or in certain instances the RSUs were issued with five year cliff vesting. PSAs are issued annually to members of management and each respective grant cliff vests each December 31 of the third year following the grant, assuming the achievement of predetermined, three-year cumulative performance targets. The performance measures include a minimum, target and maximum performance level providing the grantees an opportunity to receive more or less shares than targeted depending on actual financial performance. For both RSUs and PSAs, the grant date fair value of the awards, which is equal to the closing price per common share on the date of the award, is used to determine the amount of expense to be recognized over the applicable service period. Settlement of RSUs and PSAs will be made in shares of our common stock currently held in treasury.

The following table summarizes RSU and PSA activity during periods indicated:

Units	2014			2013
Balance January 1,		1,001,814			847,679
Granted		167,255			180,602
Forfeited		(38,458	)		(36,435	)
Shares delivered		(239,394	)		(111,730	)
Balance June 30,		891,217			880,116

The amount granted in 2014 and 2013 includes PSAs of 93,660 and 151,955, respectively, exclusive of reinvested dividends.

The following table sets forth aggregate RSU and PSA compensation expense for the periods indicated:

	June 30
In thousands	2014		2013
Three months ended	$	441	$	604
Six months ended		1,020		1,324

Stock Only Stock Appreciation Rights (“SOSARs”) Under terms of the SOSAR, a recipient receives the right to a payment in the form of shares of common stock equal to the difference, if any, in the fair market value of one share of common stock at the time of exercising the SOSAR and the exercise price. The SOSARs vest ratably over a three year period and have a term of ten years.

The following table sets forth information related to outstanding SOSARS.

	2014					2013
SOSARS	Shares			Wtd Avg Exercise Price		Shares			Wtd Avg Exercise Price
Outstanding at January 1,		1,977,133		$	13.91		2,121,454		$	12.93
Granted		275,529			29.89		361,923			18.36
Exercised		(19,199	)		15.57		(435,562	)		12.63
Canceled / forfeited		(24,719	)		18.85		(73,901	)		16.25
Outstanding at June 30,		2,208,744		$	15.83		1,973,914		$	13.87
SOSAR Grants
Weighted average grant date fair value per share	$	9.85				$	5.64
Aggregate grant date fair value (in thousands)	$	2,713				$	2,042
Black-Scholes assumptions
Dividend yield		1.47	%				2.18	%
Risk free rate of return		1.73	%				0.99	%
Volatility		37.59	%				39.62	%
Expected life		6 yrs					6 yrs

The following table sets forth SOSAR compensation expense for the periods indicated:

	June 30
In thousands	2014		2013
Three months ended	$	559	$	415
Six months ended		1,008		800

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Inventories

6 Months Ended

Jun. 30, 2014

Inventory Disclosure [Abstract]

Inventories

10. INVENTORIES

Inventories, net of reserves, were as follows:

In thousands	June 30 2014		December 31 2013
Raw materials	$	66,232	$	59,440
In-process and finished		123,350		109,578
Supplies		68,250		67,292
Total	$	257,832	$	236,310

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Fair Value of Financial Instruments - Carrying Value and Fair Value of Long-Term Debt (Detail) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Value	$ 415,438	$ 442,325
Fair Value	429,621	446,025
Fixed-Rate Bonds [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Value	250,000	250,000
Fair Value	264,244	254,533
2.05% Term Loan [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Value	58,285	58,785
Fair Value	58,224	57,952
Variable Rate Debt [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Value	107,153	133,540
Fair Value	$ 107,153	$ 133,540

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Financial Derivatives and Hedging Activities - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2014
Designated as Hedging [Member]
Derivative [Line Items]
Production costs expected to be incurred maximum period	12 months
Maximum maturity period of foreign currency derivative contracts designated as hedging instruments	12 months
Not Designated as Hedging [Member]
Derivative [Line Items]
Maturities of foreign currency derivative contracts not designated as hedging instruments	1 month
Fair Value, Measurements [Member]
Derivative [Line Items]
Accumulated other comprehensive income realization period	12 months

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Asset Retirement Obligation - Schedule of Consolidated Balance Sheets where Asset Retirement Obligations Recorded (Detail) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013	Jun. 30, 2013	Dec. 31, 2012
Asset retirement obligations	$ 4,594	$ 5,032	$ 6,714	$ 8,882
Other Current Liabilities [Member]
Asset retirement obligations	2,485	915
Other Long-Term Liabilities [Member]
Asset retirement obligations	$ 2,109	$ 4,117

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Long-Term Debt (Tables)

6 Months Ended

Jun. 30, 2014

Debt Disclosure [Abstract]

Summary of Long-Term Debt

Long-term debt is summarized as follows:

In thousands	June 30 2014			December 31 2013
Revolving credit facility, due Nov. 2016	$	107,153		$	133,540
5.375% Notes, due Oct. 2020		250,000			250,000
2.05% Term Loan, due Mar. 2023		58,285			58,785
Total long-term debt		415,438			442,325
Less current portion		(1,821	)		—
Long-term debt, net of current portion	$	413,617		$	442,325

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Income Taxes - Summary of Information Related to Interest and Penalties on Uncertain Tax Positions (Detail) (USD $) In Millions, unless otherwise specified	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013
Income Tax Disclosure [Abstract]
Interest expense	$ 0.1	$ 0.3
Accrued interest payable	$ 0.7		$ 0.6

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Share Repurchases

6 Months Ended

Jun. 30, 2014

Text Block [Abstract]

Share Repurchases

15. SHARE REPURCHASES

The following table summarizes share repurchases made pursuant to a $50 million share repurchase program which expires in May 2016:

	shares		(thousands)
Authorized amount		n/a	$	50,000
Repurchases		651,419		(14,006	)
Remaining authorization			$	35,994

The amounts set forth above include 360,299 shares at a cost of $9.5 million of repurchases completed in 2014.

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Acquisition (Tables)

6 Months Ended

Jun. 30, 2014

Business Combinations [Abstract]

Summary of Allocation of Purchase Price to Assets Acquired and Liabilities Assumed

The allocation of the purchase price to assets acquired and liabilities assumed is as follows:

In thousands	As originally presented			Cumulative adjustments			Adjusted
Assets
Cash and cash equivalents	$	12,227		$	—		$	12,227
Accounts receivable		23,870			—			23,870
Inventory		13,864			—			13,864
Prepaid and other current assets		6,674			1,386			8,060
Plant, equipment and timberlands		60,951			—			60,951
Intangible assets		87,596			—			87,596
Goodwill		76,256			(1,386	)		74,870
Total assets		281,438			—			281,438
Liabilities
Accounts payable		20,360			(107	)		20,253
Deferred tax liabilities		36,120			—			36,120
Other long term liabilities		1,820			107			1,927
Total liabilities		58,300			—			58,300
Total		223,138			—			223,138
less cash acquired		(12,227	)		—			(12,227	)
Total purchase price	$	210,911		$	—		$	210,911

Summary of Pro Forma Financial Information

The table below summarizes pro forma financial information as if the acquisition and related financing transaction occurred as of January 1, 2013:

In thousands, except per share	Three months ended June 30 2013		Six months ended June 30 2013
Pro forma
Net sales	$	441,204	$	887,975
Net income		6,643		29,436
Diluted earnings per share		0.15		0.67

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Income Taxes - Additional Information (Detail) (USD $) In Millions, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
Income Tax Disclosure [Abstract]
Gross unrecognized tax benefits	$ 14.4	$ 14.9
Unrecognized tax benefits that would impact effective tax rate	14.4
Lower range of gross unrecognized tax benefits balance may decrease within the next twelve months	0
Higher range of gross unrecognized tax benefits balance may decrease within the next twelve months	$ 5.2

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Acquisition - Additional Information (Detail) (USD $)	0 Months Ended	3 Months Ended		6 Months Ended			6 Months Ended		3 Months Ended	6 Months Ended	12 Months Ended
	Apr. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013	Jun. 30, 2014 Minimum [Member]	Jun. 30, 2014 Maximum [Member]	Jun. 30, 2014 Dresden Papier GmbH [Member]	Jun. 30, 2014 Dresden Papier GmbH [Member]	Dec. 31, 2013 Dresden Papier GmbH [Member] Employees t
Business Acquisition [Line Items]
Payment made for acquisition, net of cash acquired	$ 211,000,000			$ 0	$ 210,911,000
Revenue		446,131,000	426,391,000	907,114,000	832,681,000				79,600,000	38,300,000	158,600,000
Number of employees											146
Manufacturing capacity											72,800
Date of acquisition										Apr. 30, 2013
Useful life of property plant and equipment							5 years	30 years
Remaining useful life of intangible assets				17 years
Goodwill		94,826,000		94,826,000		95,948,000			74,870,000	74,870,000
Intangible assets		87,596,000		87,596,000					87,596,000	87,596,000
Identifiable intangible assets				9,800,000
Operating income		$ 10,605,000	$ 6,331,000	$ 32,903,000	$ 30,292,000				$ 17,100,000	$ 8,200,000

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Condensed Consolidated Balance Sheets (USD $) In Thousands, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
Assets
Cash and cash equivalents	$ 28,016	$ 122,882
Accounts receivable, net	191,124	167,830
Inventories	257,832	236,310
Prepaid expenses and other current assets	64,773	59,560
Total current assets	541,745	586,582
Plant, equipment and timberlands, net	719,819	723,340
Goodwill	94,826	95,948
Intangible assets	92,230	96,081
Other assets	181,487	176,459
Total assets	1,630,107	1,678,410
Liabilities and Shareholders' Equity
Current portion of long-term debt	1,821
Accounts payable	142,348	161,242
Dividends payable	4,767	4,363
Environmental liabilities	125	125
Other current liabilities	114,746	122,637
Total current liabilities	263,807	288,367
Long-term debt	413,617	442,325
Deferred income taxes	140,005	141,020
Other long-term liabilities	120,095	122,222
Total liabilities	937,524	993,934
Commitments and contingencies
Shareholders' equity
Common stock	544	544
Capital in excess of par value	52,401	53,940
Retained earnings	879,113	869,329
Accumulated other comprehensive loss	(69,366)	(75,357)
Shareholders' equity before treasury stock	862,692	848,456
Less cost of common stock in treasury	(170,109)	(163,980)
Total shareholders' equity	692,583	684,476
Total liabilities and shareholders' equity	$ 1,630,107	$ 1,678,410

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Gains on Dispositions of Plant, Equipment and Timberlands, Net

6 Months Ended

Jun. 30, 2014

Property Plant And Equipment [Abstract]

Gains on Dispositions of Plant, Equipment and Timberlands, Net

4. GAINS ON DISPOSITIONS OF PLANT, EQUIPMENT AND TIMBERLANDS, NET

During the first six months of 2014 and 2013, we completed sales of assets as summarized in the following table:

Dollars in thousands	Acres		Proceeds		Gain
2014
Timberlands		935	$	2,355	$	2,290
Other		n/a		5		1
Total			$	2,360	$	2,291
2013
Other		n/a		92		92
Total			$	92	$	92

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Long-Term Debt - Summary of Long-Term Debt (Detail) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
Debt Instrument [Line Items]
Total long-term debt	$ 415,438	$ 442,325
Less current portion	(1,821)
Long-term debt, net of current portion	413,617	442,325
Total long-term debt	415,438	442,325
5.375% Notes, Due Oct. 2020 [Member]
Debt Instrument [Line Items]
Total long-term debt	250,000	250,000
Total long-term debt	250,000	250,000
2.05% Term Loan, Due Mar. 2023 [Member]
Debt Instrument [Line Items]
Total long-term debt	58,285	58,785
Total long-term debt	58,285	58,785
Revolving Credit Facility, Due Nov. 2016 [Member]
Debt Instrument [Line Items]
Total long-term debt	107,153	133,540
Total long-term debt	$ 107,153	$ 133,540

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Financial Derivatives and Hedging Activities - Income or (Loss) from Derivative Instruments Recognized in Results of Operations (Detail) (Forward Foreign Currency Exchange Contracts [Member], USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Costs of Products Sold [Member] | Designated as Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Effective portion of derivative instruments, gain (loss)	$ (641)	$ (188)	$ (1,090)	$ (258)
Other - Net [Member] | Designated as Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Ineffective portion of derivative instruments, gain (loss)	119	(53)	100	26
Other - Net [Member] | Not Designated as Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative instruments, gain (loss)	$ 861	$ (763)	$ 1,196	$ (446)

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Gains on Dispositions of Plant, Equipment and Timberlands, Net (Tables)

6 Months Ended

Jun. 30, 2014

Property Plant And Equipment [Abstract]

Summary for Sale of Timberlands and Other Assets

During the first six months of 2014 and 2013, we completed sales of assets as summarized in the following table:

Dollars in thousands	Acres		Proceeds		Gain
2014
Timberlands		935	$	2,355	$	2,290
Other		n/a		5		1
Total			$	2,360	$	2,291
2013
Other		n/a		92		92
Total			$	92	$	92

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Segment Information - Schedule of Financial and Other Information by Business Unit (Detail) (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2014 T	Jun. 30, 2013 T	Jun. 30, 2014 T	Jun. 30, 2013 T
Segment Reporting Information [Line Items]
Net sales	$ 445,341	$ 425,967	$ 901,062	$ 831,156
Energy and related sales, net	790	424	6,052	1,525
Total revenue	446,131	426,391	907,114	832,681
Cost of products sold	404,694	385,551	810,637	734,466
Gross profit (loss)	41,437	40,840	96,477	98,215
SG&A	32,314	34,528	65,865	68,015
Gains on dispositions of plant, equipment and timberlands, net	(1,482)	(19)	(2,291)	(92)
Total operating income (loss)	10,605	6,331	32,903	30,292
Non-operating expense	(4,649)	(4,293)	(9,189)	(7,785)
Income (loss) before income taxes	5,956	2,038	23,714	22,507
Supplementary Data
Net tons sold	254,800	254,400	522,100	503,200
Depreciation, depletion and amortization	18,300	16,700	36,893	32,024
Capital expenditures	15,700	29,400	30,200	60,800
Composite Fibers [Member]
Segment Reporting Information [Line Items]
Net sales	157,000	142,600	315,600	254,400
Total revenue	157,000	142,600	315,600	254,400
Cost of products sold	126,900	114,600	252,900	205,000
Gross profit (loss)	30,100	27,900	62,700	49,400
SG&A	12,800	11,500	26,100	21,300
Total operating income (loss)	17,300	16,400	36,600	28,100
Income (loss) before income taxes	17,300	16,400	36,600	28,100
Supplementary Data
Net tons sold	39,400	35,000	79,400	57,600
Depreciation, depletion and amortization	7,600	5,900	15,300	10,600
Capital expenditures	5,400	18,800	11,400	36,200
Advanced Airlaid Materials [Member]
Segment Reporting Information [Line Items]
Net sales	70,500	66,400	141,800	132,700
Total revenue	70,500	66,400	141,800	132,700
Cost of products sold	62,000	58,800	125,100	118,400
Gross profit (loss)	8,500	7,600	16,700	14,300
SG&A	2,300	2,400	4,700	4,500
Total operating income (loss)	6,200	5,200	12,000	9,800
Income (loss) before income taxes	6,200	5,200	12,000	9,800
Supplementary Data
Net tons sold	24,600	23,700	49,700	47,600
Depreciation, depletion and amortization	2,300	2,200	4,600	4,400
Capital expenditures	1,400	1,900	2,900	4,000
Specialty Papers [Member]
Segment Reporting Information [Line Items]
Net sales	217,900	217,000	443,700	444,100
Energy and related sales, net	800	400	6,100	1,500
Total revenue	218,700	217,400	449,800	445,600
Cost of products sold	214,100	207,900	429,100	403,400
Gross profit (loss)	4,600	9,500	20,700	42,300
SG&A	11,800	13,400	25,500	27,900
Total operating income (loss)	(7,200)	(3,900)	(4,800)	14,400
Income (loss) before income taxes	(7,200)	(3,900)	(4,800)	14,400
Supplementary Data
Net tons sold	190,700	195,700	392,900	398,000
Depreciation, depletion and amortization	7,900	8,300	16,100	16,600
Capital expenditures	8,600	8,200	14,800	16,800
Other and Unallocated [Member]
Segment Reporting Information [Line Items]
Cost of products sold	1,700	4,200	3,500	7,700
Gross profit (loss)	(1,700)	(4,200)	(3,500)	(7,700)
SG&A	5,400	7,300	9,600	14,300
Gains on dispositions of plant, equipment and timberlands, net	(1,500)		(2,300)	(100)
Total operating income (loss)	(5,600)	(11,500)	(10,800)	(21,900)
Non-operating expense	(4,600)	(4,300)	(9,200)	(7,800)
Income (loss) before income taxes	(10,200)	(15,800)	(20,000)	(29,700)
Supplementary Data
Depreciation, depletion and amortization	500	200	900	400
Capital expenditures	$ 300	$ 600	$ 1,100	$ 3,800

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Share Repurchases (Tables)

6 Months Ended

Jun. 30, 2014

Text Block [Abstract]

Summary of Share Repurchases under Stock Repurchase Plan

The following table summarizes share repurchases made pursuant to a $50 million share repurchase program which expires in May 2016:

	shares		(thousands)
Authorized amount		n/a	$	50,000
Repurchases		651,419		(14,006	)
Remaining authorization			$	35,994

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Financial Derivatives and Hedging Activities

6 Months Ended

Jun. 30, 2014

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Financial Derivatives and Hedging Activities

14. FINANCIAL DERIVATIVES AND HEDGING ACTIVITIES

As part of our overall risk management practices, we enter into financial derivatives primarily designed to either i) hedge foreign currency risks associated with forecasted transactions – “cash flow hedges”; or ii) mitigate the impact that changes in currency exchange rates have on intercompany financing transactions and foreign currency denominated receivables and payables – “foreign currency hedges.”

Derivatives Designated as Hedging Instruments - Cash Flow Hedges We use currency forward contracts as cash flow hedges to manage our exposure to fluctuations in the currency exchange rates on certain forecasted production costs expected to be incurred over a maximum of twelve months. Currency forward contracts involve fixing the exchange for delivery of a specified amount of foreign currency on a specified date.

We designate certain currency forward contracts as cash flow hedges of forecasted raw material purchases or certain production costs with exposure to changes in foreign currency exchange rates. The effective portion of changes in the fair value of derivatives designated and that qualify as cash flow hedges of foreign exchange risk is deferred as a component of accumulated other comprehensive income in the accompanying condensed consolidated balance sheets and is subsequently reclassified into costs of products sold in the period that inventory produced using the hedged transaction affects earnings. The ineffective portion of the change in fair value of the derivative is recognized directly to earnings and reflected in the accompanying condensed consolidated statements of income as non-operating income (expense) under the caption “Other-net.”

We had the following outstanding derivatives that were used to hedge foreign exchange risks associated with forecasted transactions and designated as hedging instruments:

In thousands	June 30 2014		December 31 2013
Derivative	Buy Notional
Sell / Buy
Euro / U.S. dollar		26,348		27,105
U.S. dollar / Canadian dollar		9,449		13,077
Euro / Philippine peso		510,705		—
British Pound / Philippine peso		207,955		—
Euro / British Pound		3,468		—

These contracts have maturities of twelve months or less.

Derivatives Not Designated as Hedging Instruments—Foreign Currency Hedges We also enter into forward foreign exchange contracts to mitigate the impact changes in currency exchange rates have on balance sheet

monetary assets and liabilities. None of these contracts are designated as hedges for financial accounting purposes and, accordingly, changes in value of the foreign exchange forward contracts and in the offsetting underlying on-balance-sheet transactions are reflected in the accompanying condensed consolidated statements of income under the caption “Other – net.”

The following sets forth derivatives used to mitigate the impact changes in currency exchange rates have on balance sheet monetary assets and liabilities:

In thousands	June 30 2014			December 31 2013
Derivative	Sell (Buy) Notional
Sell / Buy
Euro / U.S. dollar		8,000			9,000
Euro / British Pound		(9,000	)		(8,000	)
Euro / British Pound		4,000			5,000
Canadian dollar / U.S. dollar		2,000			2,000
U.S. dollar / Euro		—			2,000
U.S. dollar / British Pound		7,000			6,000

These contracts have maturities of one month from the date originally entered into.

Fair Value Measurements The following table summarizes the fair values of derivative instruments for the period indicated and the line items in the accompanying condensed consolidated balance sheets where the instruments are recorded:

In thousands	June 30 2014		December 31 2013		June 30 2014		December 31 2013
Balance sheet caption	Prepaid Expenses and Other Current Assets				Other Current Liabilities
Designated as hedging:
Forward foreign currency exchange contracts	$	321	$	—	$	155	$	1,163
Not designated as hedging:
Forward foreign currency exchange contracts	$	15	$	36	$	80	$	46

The amounts set forth in the table above represent the net asset or liability giving effect to rights of offset with each counterparty. The effect of netting the amounts presented above did not have a material effect on our consolidated financial position.

The following table summarizes the amount of income or (loss) from derivative instruments recognized in our results of operations for the periods indicated and the line items in the accompanying condensed consolidated statements of income where the results are recorded:

	Three months ended June 30						Six months ended June 30
In thousands	2014			2013			2014			2013
Designated as hedging:
Forward foreign currency exchange contracts:
Effective portion – cost of products sold	$	(641	)	$	(188	)	$	(1,090	)	$	(258	)
Ineffective portion – other – net		119			(53	)		100			26
Not designated as hedging:
Forward foreign currency exchange contracts:
Other – net	$	861		$	(763	)	$	1,196		$	(446	)

The impact of activity not designated as hedging was substantially all offset by the remeasurement of the underlying on-balance sheet item.

The fair value hierarchy consists of three broad levels, which gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3).

The fair values of the foreign exchange forward contracts are considered to be Level 2. Foreign currency forward contracts are valued using foreign currency forward and interest rate curves. The fair value of each contract is determined by comparing the contract rate to the forward rate and discounting to present value. Contracts in a gain position are recorded in the condensed consolidated balance sheets under the caption “Prepaid expenses and other current assets” and the value of contracts in a loss position is recorded under the caption “Other current liabilities.”

A rollforward of fair value amounts recorded as a component of accumulated other comprehensive income is as follows:

In thousands	2014			2013
Balance at January 1,	$	(1,296	)	$	(599	)
Deferred (losses) gains on cash flow hedges		292			(177	)
Reclassified to earnings		1,090			258
Balance at June 30,	$	86		$	(518	)

We expect substantially all of the amounts recorded as a component of accumulated other comprehensive income will be realized in results of operations within the next twelve months and the amount ultimately recognized will vary depending on actual market rates.

Credit risk related to derivative activity arises in the event the counterparty fails to meet its obligations to us. This exposure is generally limited to the amounts, if any, by which the counterparty’s obligations exceed our obligation to them. Our policy is to enter into contracts only with financial institutions which meet certain minimum credit ratings.