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Restructuring
3 Months Ended
Mar. 31, 2020
Restructuring And Related Activities [Abstract]  
Restructuring

3.

RESTRUCTURING

In the first quarter of 2020 we announced restructuring actions within the Composite Fibers operating segment. The actions primarily consisted of the consolidation of our metallizing operation from Gernsbach, Germany to our Caerphilly, U.K. site. In connection with this we recorded a non-cash charge of $2.5 million associated with accelerated depreciation and cash severance costs totaling $3.5 million. The restructuring charge is recorded under the caption “Costs of product sold” in the accompanying condensed consolidated statements of income for the three months ended March 31, 2020.

We expect to record additional non-cash charges and severance costs in the second and third quarters of 2020 aggregating approximately $4.0 million to $5.0 million.