RESTRUCTURING

6 Months Ended

Jun. 30, 2021

Restructuring and Related Activities [Abstract]

RESTRUCTURING

RESTRUCTURING

During the third quarter of 2020, the Company’s Performance Materials segment undertook actions to discontinue production of a lower efficiency air filtration media product and, in turn, fully depreciated the supporting machinery and equipment in North America and consolidated certain product lines. In addition, the Company began exiting underperforming facilities in Europe. These restructuring activities, which will be completed in the third quarter of 2021, are expected to reduce operating costs, increase production efficiency, and enhance the Company’s flexibility by better aligning its manufacturing operations with the segment's customer base. The Company expects to incur total pre-tax expenses of approximately $17.0 million. As a result of these restructuring activities, the Company incurred total pre-tax expenses of $16.9 million through June 30, 2021, of which approximately $11.2 million was related to cash expenditures primarily due to severance and employee retention expenses. Also contributing to total pre-tax expenses was $5.7 million of non-cash expenditures, which consisted of fully depreciating and/or amortizing long-lived assets and, to a lesser extent, writing-off inventory. See Note 3, "Divestiture Activities", in these Notes to Condensed Consolidated Financial Statements for additional information.

The following table summarizes the total restructuring expenses incurred, by cost type, for the three and six-month periods ended June 30, 2021:

	For the Three Months Ended		For the Six Months Ended
	June 30, 2021		June 30, 2021
Severance and Related Expenses	$	190	$	967
Total pre-tax expense incurred	$	190	$	967

The following table summarizes the change in the accrued liability balance for the restructuring actions:

In thousands	Total
Balance as of December 31, 2020	$	9,431
Pre-tax restructuring expenses, excluding asset write-off expenses	967
Cash paid	(1,642)
Accrued liability included with the sale of the German facility	(7,311)
Currency translation adjustments	5
Accrued liability included in Liabilities of a business held-for-sale	(1,414)
Balance as of June 30, 2021	$	36

The above accrued liability balances were included in Restructuring liabilities on the Company’s Condensed Consolidated Balance Sheets.