Restructuring

12 Months Ended

Dec. 31, 2020

Restructuring And Related Activities [Abstract]

Restructuring

5. 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.

	Year ended December 31
In thousands	2020
Severance and benefit continuation	$	6,143
Accelerated depreciation		3,900
Inventory and spare parts		977
Other		91
Total	$	11,111

The restructuring charge is recorded under the caption “Costs of product sold” in the accompanying consolidated statements of income for the year ended December 31, 2020. With the exception of the severance and benefit continuation amounts, all other amounts accrued represent accelerated non-cash asset write-downs. As of December 31, 2020, the accrued and unpaid restructuring charge totaled approximately $1.0 million. The severance and benefit continuation costs are generally expected to be paid out ratably over the next 6 months.