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Restructuring
6 Months Ended
Jun. 30, 2019
Restructuring and Related Activities [Abstract]  
Restructuring

5. Restructuring

MC restructuring charges include expenses for the first six months of 2019 and 2018 principally related to discontinued operations at its MC production facility in Sélestat, France. In 2018, the plan was approved by the French Labor Ministry which led to restructuring expense of $8.6 million in the first six months of 2018 for severance and outplacement costs for the approximately 50 positions that were terminated under this plan. In the first six months of 2019, restructuring charges were $0.8 million. Since 2017, we have recorded $12.5 million of restructuring charges related to this action.

AEC restructuring charges include expenses for the first six months of 2019 and 2018 related to work force reductions in AEC locations in Salt Lake City, Utah and Rochester, New Hampshire.


15


Index

The following table summarizes charges reported in the Consolidated Statements of Income under “Restructuring expenses, net”:

Three months ended June 30,

Six months ended June 30,

(in thousands)

2019

2018

2019

2018

Machine Clothing

$935

$1,800

$1,336

$10,152

Albany Engineered Composites

(32)

558

51

779

Corporate expenses

(4)

231

(4)

231

Total

$899

$2,589

$1,383

$11,162

Six months ended June 30, 2019

(in thousands)

Total restructuring costs incurred

Termination and other costs

Impairment of assets

Machine Clothing

$1,336

$1,309

$27

Albany Engineered Composites

51

51

Corporate expenses

(4)

(4)

Total

$1,383

$1,356

$27

Six months ended June 30, 2018

(in thousands)

Total restructuring costs incurred

Termination and other costs

Machine Clothing

$10,152

$10,152

Albany Engineered Composites

779

779

Corporate expenses

231

231

Total

$11,162

$11,162

We expect that approximately $2.3 million of Accrued liabilities for restructuring at June 30, 2019 will be paid within one year and approximately $1.2 million will be paid the following year. The table below presents the year-to-date changes in restructuring liabilities for 2019 and 2018, all of which related to termination costs:

(in thousands)

December 31, 2018

Restructuring charges accrued

Payments

Currency translation /other

June 30, 2019

Total termination and other costs

$5,570

$1,356

$(3,129)

$(290)

$3,507

(in thousands)

December 31, 2017

Restructuring charges accrued

Payments

Currency translation/ other

June 30, 2018

Total termination and other costs

$3,326

$11,162

$(5,323)

$(378)

$8,787