Restructuring

6 Months Ended

Jun. 30, 2021

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.

	Three months ended June 30		Six months ended June 30
In thousands	2020		2020
Severance and benefit continuation	$	2,689	$	6,143
Accelerated depreciation		1,352		3,885
Inventory and spare parts		935		935
Other		91		91
Total	$	5,067	$	11,054

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 six months ended June 30, 2020. The amounts accrued for severance and benefit continuation are recorded as other current liabilities in the accompanying condensed consolidated balance sheet as of June 30, 2021

and December 31, 2020. The accrued and unpaid restructuring charge totaled approximately $0.2 million and $1.0 million as of June 30, 2021 and December 31, 2020, respectively. With the exception of the severance and benefit continuation amounts, substantially all other amounts accrued represent accelerated non-cash asset write-downs.