Restructuring

9 Months Ended

Sep. 30, 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.

	Three months ended September 30		Nine months ended September 30
In thousands	2020		2020
Severance and benefit continuation	$	—	$	6,143
Accelerated depreciation		15		3,900
Inventory and spare parts		42		977
Other		—		91
Total	$	57	$	11,111

The restructuring charge is recorded under the caption “Costs of product sold” in the accompanying condensed consolidated statements of income for the three months and nine months ended September 30, 2020. With the exception of the severance and benefit continuation amounts, all other amounts accrued represent accelerated non-cash asset write-downs. As of September 30, 2020, the accrued and unpaid restructuring charge totaled approximately $1.6 million. The severance and benefit continuation costs are generally expected to be paid out ratably over the next 3 months.