Mativ (MATV) 10-Q 7 Nov 18 2018 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2018	Nov. 07, 2018
Document And Entity Information [Abstract]
Entity Registrant Name	SCHWEITZER MAUDUIT INTERNATIONAL INC
Entity Central Index Key	1,000,623
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Sep. 30, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding		30,767,451
Entity Small Business	false
Entity Emerging Growth Company	false

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Income Statement [Abstract]
Revenues	$ 260.3	$ 257.8	$ 792.6	$ 746.4
Cost of products sold	195	181.8	577.9	530.1
Gross profit	65.3	76	214.7	216.3
Selling expense	8.9	8.1	27.2	24.6
Research expense	3.6	3.9	11.8	12.9
General expense	21.3	23.2	66.1	67.4
Total nonmanufacturing expenses	33.8	35.2	105.1	104.9
Restructuring and impairment expense	0.4	1.5	1.4	4.2
Operating profit	31.1	39.3	108.2	107.2
Interest expense	7.3	7.4	20.1	20
Other income, net	11.2	3.3	10.4	0.6
Income from continuing operations before income taxes and income from equity affiliates	35	35.2	98.5	87.8
(Benefit) provision for income taxes	(5.6)	9.5	10.4	26.5
Income (loss) from equity affiliates, net of income taxes	0.3	0	(0.5)	0.4
Income from continuing operations	40.9	25.7	87.6	61.7
Income (loss) from discontinued operations	0.1	0.1	(0.3)	0.1
Net income	$ 41	$ 25.8	$ 87.3	$ 61.8
Net income per share - basic:
Income per share from continuing operations (in dollars per share)	$ 1.33	$ 0.84	$ 2.85	$ 2.02
Income (loss) per share from discontinued operations (in dollars per share)	0	0	(0.01)	0
Net income per share - basic (in dollars per share)	1.33	0.84	2.84	2.02
Net income per share – diluted:
Income per share from continuing operations (in dollars per share)	1.33	0.84	2.84	2.01
Income (loss) per share from discontinued operations (in dollars per share)	0	0	(0.01)	0
Net income per share - diluted (in dollars per share)	$ 1.33	$ 0.84	$ 2.83	$ 2.01
Weighted average shares outstanding:
Diluted (in shares)	30,722,800	30,569,500	30,683,100	30,534,700
Basic (in shares)	30,569,600	30,422,800	30,541,600	30,400,400

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Statement of Comprehensive Income [Abstract]
Net income	$ 41	$ 25.8	$ 87.3	$ 61.8
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	(2.8)	11.4	(24.8)	37.1
Less: Reclassification adjustment for realized translation adjustments	(0.2)	0	(0.6)	0
Unrealized gains (losses) on derivative instruments	0.4	(2.8)	0.7	(5.4)
Less: Reclassification adjustment for (gains) losses on derivative instruments included in net income	(0.8)	0.9	(2.4)	0.5
Net loss from postretirement benefit plans	0	(0.3)	0	(0.3)
Reclassification adjustment for amortization of postretirement benefit plans' costs included in net periodic benefit cost	0.8	0.2	2.3	2.4
Other comprehensive (loss) income	(2.6)	9.4	(24.8)	34.3
Comprehensive income	$ 38.4	$ 35.2	$ 62.5	$ 96.1

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Current assets
Cash and cash equivalents	$ 90.5	$ 106.9
Accounts receivable, net	161	149.4
Inventories	150.9	155.2
Income taxes receivable	2.4	3.4
Assets held for sale	11.6	12.8
Other current assets	5.3	5.4
Total current assets	421.7	433.1
Property, plant and equipment, net	343.7	361.9
Deferred income tax benefits	1.8	1
Investment in equity affiliates	62.6	68.5
Goodwill	338.7	341.3
Intangible assets	279	297.2
Other assets	39.8	39.5
Total assets	1,487.3	1,542.5
Current liabilities
Current debt	3.2	5.1
Accounts payable	58.6	59.4
Income taxes payable	1.1	4
Accrued expenses	73.4	78.6
Total current liabilities	136.3	147.1
Long-term debt	637.6	679.1
Long-term income tax payable	23.7	36.7
Pension and other postretirement benefits	28.9	30.7
Deferred income tax liabilities	44.7	42.3
Other liabilities	47.4	59.9
Total liabilities	918.6	995.8
Stockholders’ equity:
Preferred stock, $0.10 par value; 10,000,000 shares authorized; none issued or outstanding	0	0
Common stock, $0.10 par value; 100,000,000 shares authorized; 30,767,973 and 30,711,299 shares issued and outstanding at September 30, 2018 and December 31, 2017, respectively	3.1	3.1
Additional paid-in-capital	70	66.3
Retained earnings	609.8	566.7
Accumulated other comprehensive loss, net of tax	(114.2)	(89.4)
Total stockholders’ equity	568.7	546.7
Total liabilities and stockholders’ equity	$ 1,487.3	$ 1,542.5

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.1	$ 0.1
Preferred shares authorized (in shares)	10,000,000	10,000,000
Preferred shares issued (in shares)	0	0
Preferred shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.1	$ 0.1
Common shares authorized (in shares)	100,000,000	100,000,000
Common shares issued (in shares)	30,767,973	30,711,299
Common stock outstanding (in shares)	30,767,973	30,711,299

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Millions	Total	Common Stock Issued [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]
Beginning Balance at Dec. 31, 2016	$ 508.3	$ 3.1	$ 59.2	$ 585.3	$ (139.3)
Beginning Balance (in shares) at Dec. 31, 2016		30,544,494
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	61.8			61.8
Other comprehensive income (loss), net of tax	34.3				34.3
Dividends declared	(38.7)			(38.7)
Restricted stock issuances, net	0
Restricted stock issuances, net (in shares)		186,773
Stock-based employee compensation expense	4.3		4.3
Stock issued to directors as compensation	0.2		0.2
Stock issued to directors as compensation (in shares)		4,352
Purchases and retirement of common stock	(1.1)			(1.1)
Purchases and retirement of common stock (in shares)		(25,176)
Ending Balance at Sep. 30, 2017	569.1	$ 3.1	63.7	607.3	(105)
Ending Balance (in shares) at Sep. 30, 2017		30,710,443
Beginning Balance at Jun. 30, 2017	544.7	$ 3.1	61.5	594.5	(114.4)
Beginning Balance (in shares) at Jun. 30, 2017		30,706,861
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	25.8			25.8
Other comprehensive income (loss), net of tax	9.4				9.4
Dividends declared	(12.9)			(12.9)
Restricted stock issuances, net	0
Restricted stock issuances, net (in shares)		2,560
Stock-based employee compensation expense	2.1		2.1
Stock issued to directors as compensation	0.1		0.1
Stock issued to directors as compensation (in shares)		1,611
Purchases and retirement of common stock	(0.1)			(0.1)
Purchases and retirement of common stock (in shares)		(589)
Ending Balance at Sep. 30, 2017	569.1	$ 3.1	63.7	607.3	(105)
Ending Balance (in shares) at Sep. 30, 2017		30,710,443
Beginning Balance at Dec. 31, 2017	546.7	$ 3.1	66.3	566.7	(89.4)
Beginning Balance (in shares) at Dec. 31, 2017		30,711,299
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cumulative effects of changes in accounting standards	(1.7)			(1.7)
Net income	87.3			87.3
Other comprehensive income (loss), net of tax	(24.8)				(24.8)
Dividends declared	(39.7)			(39.7)
Restricted stock issuances, net	0
Restricted stock issuances, net (in shares)		122,817
Stock-based employee compensation expense	3.5		3.5
Stock issued to directors as compensation	0.2		0.2
Stock issued to directors as compensation (in shares)		3,615
Purchases and retirement of common stock	(2.8)			(2.8)
Purchases and retirement of common stock (in shares)		(69,758)
Ending Balance at Sep. 30, 2018	568.7	$ 3.1	70	609.8	(114.2)
Ending Balance (in shares) at Sep. 30, 2018		30,767,973
Beginning Balance at Jun. 30, 2018	542.5	$ 3.1	68.8	582.2	(111.6)
Beginning Balance (in shares) at Jun. 30, 2018		30,754,759
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	41			41
Other comprehensive income (loss), net of tax	(2.6)				(2.6)
Dividends declared	(13.3)			(13.3)
Restricted stock issuances, net	0
Restricted stock issuances, net (in shares)		14,663
Stock-based employee compensation expense	1.1		1.1
Stock issued to directors as compensation	0.1		0.1
Stock issued to directors as compensation (in shares)		972
Purchases and retirement of common stock	(0.1)			(0.1)
Purchases and retirement of common stock (in shares)		(2,421)
Ending Balance at Sep. 30, 2018	$ 568.7	$ 3.1	$ 70	$ 609.8	$ (114.2)
Ending Balance (in shares) at Sep. 30, 2018		30,767,973

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - $ / shares	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Statement of Stockholders' Equity [Abstract]
Common Stock, Dividends, Per Share, Declared	$ 1.29	$ 1.26

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flow - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Operating
Net income	$ 87.3	$ 61.8
Less: (Loss) income from discontinued operations	(0.3)	0.1
Income from continuing operations	87.6	61.7
Non-cash items included in net income:
Depreciation and amortization	46.8	46.7
Restructuring-related impairment	0.2	0.8
Deferred income tax provision	3	2.4
Pension and other postretirement benefits	2.8	2.5
Stock-based compensation	3.7	4.5
Loss (income) from equity affiliates	0.5	(0.4)
Gain on sale of assets	0	(4.8)
Long-term income tax payable	(12)	0
Change in fair value of contingent consideration	(10.2)	0
Cash dividends received from equity affiliates	2	1.8
Other items	(0.1)	(0.2)
Changes in operating working capital, net of assets acquired:
Accounts receivable	(23.7)	(16.7)
Inventories	(3.2)	1.4
Prepaid expenses	(0.3)	(0.6)
Accounts payable	1.7	1.2
Accrued expenses	(4.3)	(0.2)
Accrued income taxes	(1.5)	(6.9)
Net changes in operating working capital	(31.3)	(21.8)
Net cash provided by operating activities of:
- Continuing operations	93	93.2
- Discontinued operations	0.2	0.1
Net cash provided by operations	93.2	93.3
Investing
Capital spending	(19.8)	(27.5)
Capitalized software costs	(1.1)	(2.6)
Acquisitions, net of cash acquired	0	(291.7)
Proceeds from sale of assets	0	7
Other investing	2.6	5.6
Net cash used in investing	(18.3)	(309.2)
Financing
Cash dividends paid to SWM stockholders	(39.7)	(38.7)
Changes in short-term debt	(1.4)	0
Proceeds from issuances of long-term debt	636.1	440.4
Payments on long-term debt	(676.9)	(196.2)
Purchases of common stock	(2.8)	(1.1)
Payments for debt issuance costs	(3.4)	(0.6)
Net cash (used in) provided by financing	(88.1)	203.8
Effect of exchange rate changes on cash and cash equivalents	(3.2)	5.3
Increase (decrease) in cash and cash equivalents	(16.4)	(6.8)
Cash and cash equivalents at beginning of period	106.9	107.4
Cash and cash equivalents at end of period	90.5	100.6
Supplemental Cash Flow Disclosures
Cash paid for interest	20.6	15.2
Cash paid for taxes, net	20.6	30.8
Change in capital spending in accounts payable and accrued liabilities	0.5	4.4
Deferred contingent business acquisition consideration	$ 0	$ 8.6

General

General	9 Months Ended
	Sep. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
General	General Nature of Business Schweitzer-Mauduit International, Inc., or SWM or the Company, headquartered in the United States of America, is a multinational diversified producer of highly engineered solutions and advanced materials for a variety of industries. The Company maintains two operating product line segments: Advanced Materials and Structures and Engineered Papers. The Advanced Materials & Structures segment, or AMS, produces mostly resin-based rolled goods such as nets, films and meltblown materials, typically through an extrusion process or other non-woven technologies. These products are used in a variety of specialty applications across the filtration, construction and infrastructure, transportation, industrial and medical end-markets. As discussed more fully in Note 4 . Business Acquisitions, in January 2017, the Company completed the acquisition of Conwed Plastics LLC, a Delaware limited liability company, and its Belgian subsidiary ("Conwed NV" and collectively with Conwed Plastic LLC, “Conwed”), which has been integrated into the AMS segment. The Engineered Papers segment, or EP, primarily serves the tobacco industry with production of various cigarette papers and reconstituted tobacco products, or "recon". Traditional reconstituted tobacco leaf, or "RTL", is used as a blend with virgin tobacco in cigarettes and used as wrappers and binders for cigars. Recon, as well as LIP (low ignition propensity) cigarette paper, a specialty product with fire-safety features, are two key profit drivers, which together account for more than half of segment net sales. The EP segment also produces non-tobacco papers for both premium applications, such as energy storage and industrial commodity paper grades. We conduct business in over 90 countries and operate 23 production locations worldwide, with facilities in the U.S., Canada, United Kingdom, France, Luxembourg, Belgium, Russia, Brazil, China and Poland. We also have a 50% equity interest in two joint ventures in China. The first, China Tobacco Mauduit (Jiangmen) Paper Industry Ltd., or CTM, produces cigarette and porous plug wrap papers and the second, China Tobacco Schweitzer (Yunnan) Reconstituted Tobacco Co. Ltd., or CTS, produces RTL. Basis of Presentation The accompanying unaudited condensed consolidated financial statements and the notes thereto have been prepared in accordance with the instructions of Form 10-Q and Rule 10-01 of Regulation S-X of the Securities and Exchange Commission, or the SEC, and do not include all of the information and disclosures required by accounting principles generally accepted in the United States of America, or U.S. GAAP. However, such information reflects all adjustments (consisting of normal recurring adjustments) which are, in the opinion of management, necessary for a fair statement of results for the interim periods including the results of a business reclassified as a discontinued operation which is more fully described in Note 5 . Discontinued Operations. The results of operations for the three and nine months ended September 30, 2018 are not necessarily indicative of the results to be expected for the full year. The unaudited condensed consolidated financial statements and these notes thereto included herein should be read in conjunction with the audited consolidated financial statements and the related notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017 , as filed with the SEC on March 1, 2018. Principles of Consolidation The condensed consolidated financial statements include the accounts of the Company and its wholly-owned, majority-owned and controlled subsidiaries. The Company’s share of the net income of its 50% -owned joint ventures in China is included in the condensed consolidated statements of income as Income from equity affiliates, net of income taxes. Intercompany balances and transactions have been eliminated. Certain reclassifications of prior year data were made in the Condensed Consolidated Statements of Income and in the Notes to Consolidated Financial Statements. The reclassifications were made to conform to the current year presentation. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires estimates and assumptions that affect the reported amounts of assets and liabilities, revenues and expenses and related disclosures of contingent assets and liabilities in the condensed consolidated financial statements and accompanying notes. Estimates are used for, but not limited to, inventory valuation, useful lives of tangible and intangible assets, fair values, sales returns and rebates, receivables valuation, pension, postretirement and other benefits, restructuring and impairment, taxes and contingencies. Actual results could differ materially from those estimates. Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board, or FASB, issued Accounting Standards Update ("ASU") 2014-09, "Revenue from Contracts with Customers" (Topic 606). This guidance specifies how and when an entity will recognize revenue arising from contracts with customers and requires entities to disclose information about the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. The Company adopted this ASU effective January 1, 2018, utilizing the modified retrospective transition approach upon adoption. This approach required an adjustment upon adoption to the financial statements to reflect the cumulative impact of the guidance and results in no change to prior period financial statements. The guidance in this update was applied to all contracts that were not completed at the date of adoption. Based on the evaluation of the provisions included in the new guidance, along with the related updates discussed below, the adoption of this standard resulted in a cumulative-effect adjustment directly to retained earnings of $0.5 million as of January 1, 2018. The adoption of this guidance did not materially impact the amount or timing of revenues recognized in the consolidated financial statements or materially effect our financial position. See Note 2 . Revenue Recognition for further discussion. In February 2016, the FASB issued ASU 2016-02, "Leases (Topic 842): Amendments to the FASB Accounting Standards Codification." The new standard establishes a right-of-use model that requires a lessee to record a right-of-use asset and a lease liability on the balance sheet for all leases with terms longer than twelve months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. This guidance is effective for annual reporting periods beginning after December 15, 2018, and interim periods thereafter. Early adoption is permitted. In July 2018, the FASB issued ASU 2018-11, "Leases (Topic 842) - Targeted Improvements", providing companies with the option to adopt the provisions of the standard prospectively without adjusting comparative periods; the Company expects to elect this option for transition and adopt the standard on January 1, 2019. Upon adoption, the Company will recognize a cumulative-effect adjustment to the opening balance of retained earnings. The Company plans to apply the package of practical expedients provided in the standard. The Company has established an implementation team in order to analyze the standard and is currently modifying its current accounting policies and procedures for differences and changes which will result from applying the requirements of the new standard to its lease contracts. The Company expects that adoption will have a material impact on the consolidated balance sheets related to recording right-of-use assets and corresponding lease liabilities. The Company is also currently in the process of evaluating the impact of adoption on the consolidated statements of income, but does not expect that the impact will be material and will represent a timing difference in recognition of lease expense over the lease term of certain lease contracts. The Company does not expect the adoption of the new lease standard to have an impact on its debt covenant compliance under its current debt and indenture agreements. In March, April and May 2016, the FASB issued ASU 2016-08, “Revenue from Contracts with Customers: Principal versus Agent Considerations (Reporting Revenue Gross versus Net),” ASU 2016-10, “Revenue from Contracts with Customers: Identifying Performance Obligations and Licensing,” ASU 2016-11, "Revenue Recognition (Topic 605) and Derivatives and Hedging (Topic 815): Rescission of SEC Guidance Because of Accounting Standards Updates 2014-09 and 2014-16 Pursuant to Staff Announcements at the March 3, 2016 EITF Meeting," and ASU 2016-12, "Revenue from Contracts with Customers: Narrow-Scope Improvements and Practical Expedients," which provide supplemental adoption guidance and clarification to ASU 2014-09. ASU 2016-08, ASU 2016-10, ASU 2016-11 and ASU 2016-12 must be adopted concurrently with the adoption of ASU 2014-09. The Company adopted these updates effective January 1, 2018 and adoption of these updates did not materially affect our financial position or materially impact the amount or timing of revenues recognized in the consolidated financial statements, as discussed above. See Note 2 . Revenue Recognition for further discussion. In October 2016, the FASB issued ASU 2016-16, "Income Taxes (Topic 718): Intra-Entity Transfers of Assets Other Than Inventory." This standard states that an entity should recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs, thus eliminating the exception for an intra-entity transfer of an asset other than inventory. This guidance is effective for annual reporting periods beginning after December 15, 2017, including interim reporting periods within those annual reporting periods. Early adoption is permitted. The Company adopted this ASU effective January 1, 2018, utilizing the modified retrospective basis transition approach upon adoption. The adoption of this guidance resulted in a cumulative-effect adjustment directly to retained earnings of $2.2 million as of January 1, 2018. In January 2017, the FASB issued ASU No. 2017-01, "Business Combinations (Topic 805): Clarifying the Definition of a Business." The guidance clarifies the definition of a business with the objective of assisting entities in evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. Acquisitions of integrated sets of assets and activities that do not meet the definition of a business are accounted for as asset acquisitions. The new update is effective for annual periods beginning after December 15, 2017. The Company adopted this guidance as of January 1, 2018. Adoption of ASU 2017-01 did not have an impact on the consolidated financial statements. In January 2017, the FASB issued ASU 2017-04, "Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment." The amendment eliminates the second step of the analysis that required the measurement of a goodwill impairment by comparing the implied value of a reporting unit’s goodwill and the goodwill’s carrying amount. This guidance is effective for annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2019. Early adoption is permitted. The Company is currently in the process of evaluating the impact of the pronouncement and does not expect the adoption of this guidance to have a material impact on the consolidated financial statements. In March 2017, the FASB issued ASU 2017-07, "Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost." The amendment requires an employer to report the service cost component in the same line item or line items as other compensation costs arising from services rendered by the pertinent employees during the period. The other components of net benefit cost are required to be presented in the income statement separately from the service cost component and outside a subtotal from operations. This guidance is effective for annual periods beginning after December 15, 2017. The Company adopted this ASU effective January 1, 2018, utilizing the retrospective transition approach upon adoption. The adoption of this guidance resulted in a reclassification of the components of net periodic pension cost, other than service cost, from Cost of products sold and General expense to Other income (expense), net, in the Consolidated Statements of Income. The reclassification of these costs effects only the EP segment, as there are no pension costs associated with the AMS segment. For the three and nine months ended September 30, 2017 , respectively, $0.8 million and $2.6 million in pension expense were reclassified from Operating profit to Other expense in the condensed consolidated statement of income for the 2017 comparative periods. The adoption of this guidance had no effect on Net income in the Consolidated Statements of Income and no effect on the other consolidated financial statements. In May 2017, the FASB issued ASU 2017-09, "Compensation-Stock Compensation (Topic 718): Scope of Modification Accounting". This amendment clarifies the changes to terms or conditions of a share-based payment award that require an entity to apply modification accounting. ASU 2017-09 is effective for annual reporting periods, and interim periods therein, beginning after December 15, 2017. Early application is permitted and prospective application is required. The Company adopted this guidance as of January 1, 2018. Adoption of ASU 2017-09 did not have a material impact on the consolidated financial statements. In August 2017, the FASB issued ASU 2017-12, "Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities." This amendment better aligns an entity's risk management activities and financial reporting for hedging relationships through changes to both the designation and measurement guidance for qualifying hedging relationships and the presentation of hedge results. ASU 2017-12 is effective for annual reporting periods, and interim periods therein, beginning after December 15, 2018. Early application is permitted and should be applied to hedging relationships existing on the date of adoption. The effect of adoption should be reflected as of the beginning of the fiscal year of adoption. The Company elected to early adopt this guidance as of January 1, 2018. Refer to Note 12 . Derivatives for additional information regarding the impact of adoption of this standard on the Company's financial statements. In February 2018, the FASB issued ASU 2018-02, "Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income." This ASU was issued following the enactment of the Tax Cuts and Jobs Act (the "Tax Act") of 2017. This ASU allows an entity to elect a reclassification from accumulated other comprehensive income to retained earnings for stranded effects resulting from the Tax Act. ASU 2018-02 is effective for annual reporting periods, and interim periods therein, beginning after December 15, 2018. Early adoption is permitted and should be applied either in the period of adoption or retrospectively to each period in which the effect of the change in the U.S. federal corporate income tax rate in the Tax Act is recognized. The Company is currently in the process of evaluating the impact of the pronouncement and does not expect the adoption of this guidance to have a material impact on the consolidated financial statements. In June 2018, the FASB issued ASU 2018-07, "Compensation—Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting." The amendments in this Update expand the scope of Topic 718 to include share-based payment transactions for acquiring goods and services from nonemployees and make the accounting treatment for employee and nonemployee share-based transactions more consistent. ASU 2018-07 is effective for annual reporting periods, and interim periods therein, beginning after December 15, 2018. Early adoption is permitted, but no earlier than the entity's adoption date of Topic 606. The Company is currently in the process of evaluating the impact of the pronouncement and does not expect the adoption of this guidance to have a material impact on the consolidated financial statements. In August 2018, the FASB issued ASU 2018-14, "Compensation—Retirement Benefits—Defined Benefit Plans—General (Subtopic 715-20): Disclosure Framework—Changes to the Disclosure Requirements for Defined Benefit Plans." The new standard modifies the disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans. The provisions of this ASU are effective for years beginning after December 15, 2020, with early adoption permitted. The new standard requires the amendments to be applied on a retrospective basis for all periods presented. The Company is currently in the process of evaluating the impact of the pronouncement and does not expect the adoption of this guidance to have a material impact on the consolidated financial statements. In August 2018, the FASB issued ASU 2018-15, "Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract." The new standard provides updated guidance surrounding implementation costs associated with cloud computing arrangements that are service contracts. The provisions of this ASU are effective for years beginning after December 15, 2020, with early adoption permitted. The Company is currently in the process of evaluating the impact of the pronouncement on the consolidated financial statements.

Other Comprehensive Income

Other Comprehensive Income	9 Months Ended
	Sep. 30, 2018
Equity [Abstract]
Other Comprehensive Income	Other Comprehensive Income Comprehensive income includes net income, as well as certain items charged and credited directly to stockholders' equity, which are excluded from net income. The Company has presented comprehensive income in the condensed consolidated statements of comprehensive income (loss). Reclassification adjustments of derivative instruments are presented in Net sales, Other (expense) income, net, or Interest expense in the condensed consolidated statements of income. See Note 12 . Derivatives for additional information. Amortization of accumulated pension and other post-employment benefit, or OPEB, liabilities are included in the computation of net periodic pension and OPEB costs, which are more fully discussed in Note 14 . Postretirement and Other Benefits. Components of Accumulated other comprehensive loss, net of tax, were as follows ($ in millions): September 30, 2018 December 31, 2017 Accumulated pension and OPEB liability adjustments, net of income tax benefit of $12.9 million and $13.8 million at September 30, 2018 and December 31, 2017, respectively $ (22.6 ) $ (24.9 ) Accumulated unrealized (loss) gain on derivative instruments, net of income tax benefit of $1.5 million and $0.2 million at September 30, 2018 and December 31, 2017, respectively (1.3 ) 0.4 Accumulated unrealized foreign currency translation adjustments, net of income tax benefit of $2.7 million and $4.5 million at September 30, 2018 and December 31, 2017, respectively (90.3 ) (64.9 ) Accumulated other comprehensive loss $ (114.2 ) $ (89.4 ) Changes in the components of Accumulated other comprehensive loss were as follows ($ in millions): Three Months Ended September 30, 2018 September 30, 2017 Pre-tax Tax Net of Tax Pre-tax Tax Net of Tax Unrealized gain (loss) on pension and OPEB liability adjustments $ 1.0 $ (0.2 ) $ 0.8 $ 1.1 $ (1.2 ) $ (0.1 ) Unrealized (loss) gain on derivative instruments (0.4 ) — (0.4 ) (2.1 ) 0.2 (1.9 ) Unrealized (loss) gain on foreign currency translation (3.1 ) 0.1 (3.0 ) 11.4 — 11.4 Total $ (2.5 ) $ (0.1 ) $ (2.6 ) $ 10.4 $ (1.0 ) $ 9.4 Nine Months Ended September 30, 2018 September 30, 2017 Pre-tax Tax Net of Pre-tax Tax Net of Unrealized gain (loss) on pension and OPEB liability adjustments $ 3.2 $ (0.9 ) $ 2.3 $ 3.7 $ (1.6 ) $ 2.1 Unrealized (loss) gain on derivative instruments (3.0 ) 1.3 (1.7 ) (7.1 ) 2.2 (4.9 ) Unrealized (loss) gain on foreign currency translation (23.6 ) (1.8 ) (25.4 ) 37.1 — 37.1 Total $ (23.4 ) $ (1.4 ) $ (24.8 ) $ 33.7 $ 0.6 $ 34.3

Revenue Recognition

Revenue Recognition	9 Months Ended
	Sep. 30, 2018
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition The Company has two main sources of revenue: product sales and materials conversion. The Company recognizes product sales revenues when control of a product is transferred to the customer. For the majority of product sales, transfer of control occurs when the products are shipped from one of the Company’s manufacturing facilities to the customer. The cost of delivering finished goods to the Company’s customers is recorded as a component of cost of products sold. Those costs include the amounts paid to a third party to deliver the finished goods. Any freight costs billed to and paid by a customer are included in net sales. The Company also provides services to customers through the conversion of customer-owned raw materials into processed finished goods. In these transactions, the Company generally recognizes revenue as processing is completed. Revenue is recognized when performance obligations under the terms of a contract with a customer are satisfied, which generally occurs when control of the promised goods or services is transferred to the customer, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. Generally, the Company considers collectability of amounts due under a contract to be probable upon inception of a sale based on an evaluation of the credit worthiness of each customer. If collectability is not considered to be probable, the Company defers recognition of revenue on satisfied performance obligations until the uncertainty is resolved. Any variable consideration, such as discounts or price concessions, is set forth in the terms of the contract at inception, and is included in the assessment of the transaction price at the outset of the arrangement. The transaction price is allocated to the individual performance obligations due under the contract based on the relative stand-alone fair value of the performance obligations identified in the contract. The Company typically uses an observable price to determine the stand-alone selling price for separate performance obligations. The Company does not typically include extended payment terms or significant financing components in our contracts with customers. Certain product sales contracts may include cash-based incentives (volume rebates or credits), which are accounted for as variable consideration. We estimate these amounts at least quarterly based on the expected forecast quantities to be provided to customers and reduce revenues recognized accordingly. Incidental items that are immaterial in the context of the contract are recognized as expense in the period incurred. The Company generally expenses sales commissions when incurred because the amortization period is one year or less. These costs are recorded within sales and marketing expenses. The Company does not disclose the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less and (ii) contracts for which we recognize revenue at the amount to which we have the right to invoice for services performed. As a practical expedient, the Company treats shipping and handling activities that occur after control of the good transfers as fulfillment activities, and therefore, does not account for shipping and handling costs as a separate performance obligation. Following is the Company’s net sales disaggregated by revenue source ($ in millions). Sales and usage-based taxes are excluded from net sales. Three Months Ended September 30, 2018 September 30, 2017 AMS EP Total AMS EP Total Product revenues $ 117.9 $ 124.2 $ 242.1 $ 112.4 $ 122.3 $ 234.7 Materials conversion revenues 1.9 13.9 15.8 3.2 17.9 21.1 Other revenues 1.0 1.4 2.4 0.6 1.4 2.0 Total revenues (1) $ 120.8 $ 139.5 $ 260.3 $ 116.2 $ 141.6 $ 257.8 (1) Revenues include net hedging gains and losses for the three months ended September 30, 2018 and 2017 . Nine Months Ended September 30, 2018 September 30, 2017 AMS EP Total AMS EP Total Product revenues $ 346.9 $ 378.6 $ 725.5 $ 318.4 $ 350.8 $ 669.2 Materials conversion revenues 10.3 50.1 60.4 14.0 57.9 71.9 Other revenues 2.9 3.8 6.7 1.6 3.7 5.3 Total revenues (1) $ 360.1 $ 432.5 $ 792.6 $ 334.0 $ 412.4 $ 746.4 (1) Revenues include net hedging gains and losses for the nine months ended September 30, 2018 and 2017 . Net sales are attributed to the following geographic locations based on the location of the Company’s direct customers ($ in millions): Three Months Ended September 30, 2018 September 30, 2017 AMS EP Total AMS EP Total United States $ 84.7 $ 47.0 $ 131.7 $ 80.6 $ 46.8 $ 127.4 Europe and the former Commonwealth of Independent States 10.0 51.0 61.0 13.5 52.8 66.3 Asia/Pacific (including China) 20.3 17.9 38.2 16.4 21.2 37.6 Latin America 2.1 11.0 13.1 2.4 11.0 13.4 Other foreign countries 3.7 12.6 16.3 3.3 9.8 13.1 Total revenues (1) $ 120.8 $ 139.5 $ 260.3 $ 116.2 $ 141.6 $ 257.8 (1) Revenues include net hedging gains and losses for the three months ended September 30, 2018 and 2017 . Nine Months Ended September 30, 2018 September 30, 2017 AMS EP Total AMS EP Total United States $ 247.6 $ 146.7 $ 394.3 $ 227.6 $ 140.2 $ 367.8 Europe and the former Commonwealth of Independent States 36.5 168.6 205.1 37.6 155.1 192.7 Asia/Pacific (including China) 56.9 57.1 114.0 50.8 59.7 110.5 Latin America 7.8 33.0 40.8 7.8 32.4 40.2 Other foreign countries 11.3 27.1 38.4 10.2 25.0 35.2 Total revenues (1) $ 360.1 $ 432.5 $ 792.6 $ 334.0 $ 412.4 $ 746.4 (1) Revenues include net hedging gains and losses for the nine months ended September 30, 2018 and 2017 .

Business Acquisitions

Business Acquisitions	9 Months Ended
	Sep. 30, 2018
Business Combinations [Abstract]
Business Acquisitions	Business Acquisitions On January 20, 2017, the Company completed the acquisition of Conwed pursuant to the Equity Interest Purchase Agreement, dated as of December 14, 2016, by and among the Company, Delstar Technologies, Inc., Baldwin Enterprises, Inc., Conwed and Leucadia National Corporation. As a result of the transaction, Conwed and its subsidiaries became wholly-owned indirect subsidiaries of the Company. The acquisition of Conwed expanded and continued the diversification of SWM's global presence in advanced materials and has been integrated into the Company's AMS segment. The consideration for the Conwed acquisition was $295.0 million in cash, subject to certain customary post-closing adjustments, plus three potential earn-out payments not to exceed $40.0 million in the aggregate, which payments are contingent upon the achievement of certain financial metrics in each of 2019, 2020 and 2021, in each case, upon the terms and subject to the conditions contained in the Purchase Agreement. The estimated fair value of the potential earn-out payments at the acquisition date was $8.6 million , for total consideration transferred of $303.6 million . The estimated fair value of the deferred contingent consideration was determined based on management's projections related to the achievement of certain financial metrics for the aforementioned years. The discount rate used to value the liability was based on specific business risk, cost of capital and other factors. The fair value of the contingent consideration was determined using significant unobservable inputs and is considered a Level 3 liability. The liability associated with the contingent consideration is remeasured each quarter subsequent to the acquisition date, taking into consideration the changes in management's projections related to the achievement of certain financial metrics related to the contingent consideration. The liability will continue to be remeasured each quarter until either the agreement has expired or the contingency is resolved. Any changes in the fair value of contingent consideration related to updated assumptions and estimates are recognized within Other income, net, in the Condensed Consolidated Statements of Income during the period in which the change occurs. As of December 31, 2017, the fair value of the contingent liability was $9.5 million . As of September 30, 2018 , the fair value of the contingent liability had increased to $10.2 million , including $0.7 million in accretion year-to-date. Upon review of management's projections and estimates through December 31, 2021, the Company determined that the contingent payments were no longer probable, such that the fair value of the contingent consideration was reduced to $0.0 million as of September 30, 2018, resulting in a $10.2 million gain recognized in Other income, net. The purchase price for Conwed was funded from the Company’s borrowings under the First Amendment to Second Amended and Restated Credit Agreement, while the purchase price for Conwed NV was funded from cash on hand. See Note 11 . Debt, for additional information. The consideration paid for Conwed and the final fair values of the assets acquired and liabilities assumed as of the January 20, 2017 acquisition date were as follows ($ in millions): Fair Value as of January 20, 2017 Cash and cash equivalents $ 3.3 Accounts receivable 15.4 Inventory 20.6 Other current assets 1.1 Property, plant and equipment 31.7 Identifiable intangible assets 134.4 Total assets 206.5 Accounts payable and accrued expenses 8.2 Deferred tax liabilities 0.9 Net identifiable assets acquired 197.4 Goodwill 106.2 Fair value of consideration transferred $ 303.6 The Company used the income, market or cost approach (or a combination thereof) for the valuation as appropriate and used valuation inputs in these models and analyses that were based on market participant assumptions. Market participants are considered to be buyers and sellers in the principal or most advantageous market for the asset or liability. For certain items, the carrying amount was determined to be a reasonable approximation of fair value based on information available to SWM management. The fair value of receivables acquired from Conwed on January 20, 2017 was $15.4 million , with gross contractual amounts receivable of $15.8 million . Acquired inventories and property, plant and equipment were recorded at their fair values. Acquired intangible assets are primarily customer relationships, developed technology, trade names and non-competition agreements. The fair value of the inventory acquired from Conwed on January 20, 2017 was $20.6 million , which included a step-up in basis of $2.9 million . Finished goods and work-in-process inventory were valued using the comparative sales method, which is a function of the estimated selling price less the sum of (a) any cost to complete, (b) costs of disposal, (c) holding costs and (d) a reasonable profit for allowance for the acquirer. Raw materials were valued using the replacement cost method of the cost approach. Properties acquired included manufacturing and related facilities, land and leased sites that include leasehold improvements, and machinery and equipment for use in manufacturing operations. Management valued properties using the market and cost approaches, supported where available by observable market data which included consideration of obsolescence. Intangible assets acquired included a number of customer relationships in the infrastructure, construction and industrial end-markets. In addition to these intangible assets, the Company acquired a number of patented and unpatented technologies, a number of business-to-business trade names and non-competition agreements. Management valued intangible assets using the relief from royalty, multi-period excess earnings and with-and-without methods, all forms of the income approach supported by observable market data for peer companies. The following table shows the fair values assigned to intangible assets ($ in millions): Fair Value as of January 20, 2017 Weighted-Average Amortization Period (Years) Amortizable intangible assets: Customer relationships $ 108.0 15.0 Developed technology 18.1 17.2 Non-competition agreements 1.2 7.2 Total amortizable intangible assets 127.3 Indefinite-lived intangible assets: Trade names 7.1 Indefinite Total $ 134.4 In connection with the acquisition, the Company recorded goodwill, which represents the excess of the consideration transferred over the fair value of tangible and intangible assets acquired, net of liabilities assumed. The goodwill is attributed primarily to Conwed's revenue growth and potential operational synergies from combining the SWM and Conwed businesses and workforces as well as the benefits of access to different markets and customers. Goodwill from the Conwed acquisition was assigned to the AMS reportable segment. The goodwill was determined on the basis of the fair values of the assets and liabilities identified as part of the transaction. The goodwill acquired in connection with Conwed and its domestic subsidiaries is deductible for tax purposes. The goodwill associated with Conwed NV is not deductible for tax purposes. For the nine months ended September 30, 2018 and 2017 , the Company recognized no and $0.1 million of direct and indirect acquisition-related costs, respectively. In the nine months ended September 30, 2017 , the Company incurred $0.6 million in acquisition-related financing costs. Direct and indirect acquisition-related costs were expensed as incurred and are included in the General expense line item in the condensed consolidated statements of income. Financing costs related to expanding the Amended Credit Agreement (as defined below) have been capitalized and are amortized in Interest expense over the life of the Amended Credit Agreement. The amounts of Net sales and Income from continuing operations of Conwed included in the Company's consolidated income statement from the acquisition date are as follows ($ in millions): Net Sales Income from Continuing Operations July 1, 2017 - September 30, 2017 $ 40.7 $ 4.7 January 20, 2017 - September 30, 2017 106.2 7.9 The amounts of the unaudited pro forma Net sales and Income from continuing operations of the combined entity had the acquisition date been January 1, 2017 are as follows ($ in millions): Net Sales Income from Continuing Operations 2017 Supplemental Pro Forma from January 1, 2017 - September 30, 2017 $ 754.1 $ 58.4

Discontinued Operations

Discontinued Operations	9 Months Ended
	Sep. 30, 2018
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	Discontinued Operations The Company's former paper mill in San Pedro, Philippines has been reported as a discontinued operation since 2013. This operation was previously presented as a component of the EP segment. The physical assets at the Philippines paper mill were sold during the fourth quarter of 2013. For all periods presented, results of this operation have been removed from each individual line within the statements of income and the operating activities section of the statements of cash flow. In each case, a separate line has been added for the net results of discontinued operations. Included in Other current assets, Other assets and Accrued expenses within the condensed consolidated balance sheet are the following major classes of assets and liabilities, respectively, associated with the discontinued operations ($ in millions): September 30, 2018 December 31, 2017 Assets of discontinued operations: Current assets $ 0.8 $ 1.0 Other assets 1.4 2.4 Liabilities of discontinued operations: Current liabilities 0.1 0.1 Summary financial results of discontinued operations were as follows ($ in millions): Three Months Ended Nine Months Ended September 30, 2018 September 30, 2017 September 30, 2018 September 30, 2017 Net sales $ — $ — $ — $ — Other income (expense) 0.1 0.1 (0.3 ) 0.1 Loss from discontinued operations before income taxes 0.1 0.1 (0.3 ) 0.1 Income tax (provision) benefit — — — — Loss from discontinued operations 0.1 0.1 (0.3 ) 0.1

Net Income Per Share

Net Income Per Share	9 Months Ended
	Sep. 30, 2018
Earnings Per Share [Abstract]
Net Income Per Share	Net Income Per Share The Company uses the two-class method to calculate earnings per share. The Company has granted restricted stock that contains non-forfeitable rights to dividends on unvested shares. Since these unvested shares are considered participating securities under the two-class method, the Company allocates earnings per share to common stock and participating securities according to dividends declared and participation rights in undistributed earnings. Diluted net income per common share is computed based on net income divided by the weighted average number of common and potential common shares outstanding. Potential common shares during the respective periods are those related to dilutive stock-based compensation, including long-term stock-based incentive compensation and directors’ accumulated deferred stock compensation, which may be received by the directors in the form of stock or cash. A reconciliation of the average number of common and potential common shares outstanding used in the calculations of basic and diluted net income per share follows ($ in millions, shares in thousands): Three Months Ended Nine Months Ended September 30, September 30, September 30, September 30, Numerator (basic and diluted): Net income $ 41.0 $ 25.8 $ 87.3 $ 61.8 Less: Dividends paid to participating securities (0.1 ) (0.1 ) (0.2 ) (0.3 ) Less: Undistributed earnings available to participating securities (0.2 ) (0.1 ) (0.4 ) (0.2 ) Undistributed and distributed earnings available to common stockholders $ 40.7 $ 25.6 $ 86.7 $ 61.3 Denominator: Average number of common shares outstanding 30,569.6 30,422.8 30,541.6 30,400.4 Effect of dilutive stock-based compensation 153.2 146.7 141.5 134.3 Average number of common and potential common shares outstanding 30,722.8 30,569.5 30,683.1 30,534.7

Inventories

Inventories	9 Months Ended
	Sep. 30, 2018
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories are valued at the lower of cost (using the First-In, First-Out and weighted average methods) or net realizable value. The Company's costs included in inventory primarily include resins, pulp, chemicals, direct labor, utilities, maintenance, depreciation, finishing supplies and an allocation of certain overhead costs. Machine start-up costs or abnormal machine shut downs are expensed in the period incurred and are not reflected in inventory. The Company reviews inventories at least quarterly to determine the necessity of write-offs for excess, obsolete or unsalable inventory. The Company estimates write-offs for inventory obsolescence and shrinkage based on its judgment of future realization. These reviews require the Company to assess customer and market demand. The following schedule details inventories by major class ($ in millions): September 30, December 31, Raw materials $ 49.0 $ 50.4 Work in process 25.1 21.3 Finished goods 67.4 74.2 Supplies and other 9.4 9.3 Total $ 150.9 $ 155.2

Goodwill

Goodwill	9 Months Ended
	Sep. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	Goodwill The changes in the carrying amount of goodwill by segment for the nine months ended September 30, 2018 were as follows ($ in millions): Advanced Materials & Structures Engineered Papers Total Goodwill as of December 31, 2017 $ 336.1 $ 5.2 $ 341.3 Foreign currency translation adjustments (2.4 ) (0.2 ) (2.6 ) Goodwill as of September 30, 2018 $ 333.7 $ 5.0 $ 338.7

Intangible Assets

Intangible Assets	9 Months Ended
	Sep. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	Intangible Assets The gross carrying amount and accumulated amortization for intangible assets consisted of the following ($ in millions): September 30, 2018 Gross Carrying Amount Accumulated Amortization Accumulated Impairments Accumulated Foreign Exchange Net Carrying Amount Amortized Intangible Assets Advanced Materials & Structures Customer relationships $ 276.3 $ 46.0 $ — $ (0.2 ) $ 230.5 Developed technology 34.0 8.0 — 0.1 25.9 Trade names 21.8 0.8 20.7 0.3 — Non-compete agreements 2.9 1.6 — — 1.3 Patents 1.5 0.3 — — 1.2 Total $ 336.5 $ 56.7 $ 20.7 $ 0.2 $ 258.9 Unamortized Intangible Assets (Advanced Materials & Structures) Trade names $ 20.0 $ — $ 0.1 $ (0.2 ) $ 20.1 December 31, 2017 Gross Carrying Amount Accumulated Amortization Accumulated Impairments Accumulated Foreign Exchange Net Carrying Amount Amortized Intangible Assets Advanced Materials & Structures Customer relationships $ 276.3 $ 32.9 $ — $ (2.3 ) $ 245.7 Developed technology 34.0 6.0 — (0.1 ) 28.1 Customer contracts 0.9 0.9 — — — Trade names 21.8 0.8 20.7 0.3 — Non-compete agreements 2.9 1.1 — — 1.8 Patents 1.5 0.3 — — 1.2 Total $ 337.4 $ 42.0 $ 20.7 $ (2.1 ) $ 276.8 Unamortized Intangible Assets (Advanced Materials & Structures) Trade names $ 20.0 $ — $ — $ (0.4 ) $ 20.4 Amortization expense of intangible assets was $5.2 million and $5.2 million for the three months ended September 30, 2018 and 2017 , respectively, and $15.6 million and $15.7 million for the nine months ended September 30, 2018 and 2017 , respectively. Finite-lived intangibles in the AMS segment are expensed using the straight-line amortization method. The estimated average aggregate amortization expense is $20.3 million in each of the next five years.

Restructuring and Impairment Ac

Restructuring and Impairment Activities	9 Months Ended
	Sep. 30, 2018
Restructuring and Related Activities [Abstract]
Restructuring and Impairment Activities	Restructuring and Impairment Activities The Company incurred Restructuring and impairment expense of $0.4 million and $1.5 million in the three months ended September 30, 2018 and 2017 , respectively, and $1.4 million and $4.2 million in the nine months ended September 30, 2018 and 2017 , respectively. In the AMS segment, Restructuring and impairment expense was $0.4 million and $1.2 million for the three months ended September 30, 2018 and 2017 , respectively, and $1.2 million and $2.4 million in the nine months ended September 30, 2018 and 2017 , respectively. Restructuring and impairment expense for the nine months ended September 30, 2018 consisted of $0.9 million in severance accruals for employees at our U.S. manufacturing operations, as well as $0.3 million in impairment charges at our U.S manufacturing operations. In the nine months ended September 30, 2017 , Restructuring and impairment expense consisted of severance accruals for employees at our U.S. and Belgium manufacturing operations. In the EP segment, Restructuring and impairment expense was $0.0 million and $0.4 million for the three months ended September 30, 2018 and 2017 , respectively, and $0.2 million and $1.7 million in the nine months ended September 30, 2018 and 2017 , respectively. During the nine months ended September 30, 2018 , Restructuring and impairment expense consisted of $0.2 million in severance accruals for employees at our manufacturing facilities in France. During the nine months ended September 30, 2017 , Restructuring and impairment expense consisted of $0.9 million in severance accruals for employees at our manufacturing facilities in the U.S. and France, as well as an impairment charge of $0.8 million at our Philippines RTL location. Additionally, the Company incurred no restructuring and impairment expense and reallocated $0.1 million between segments during the three months ended September 30, 2018 and 2017 , respectively, and $0.0 million and $0.1 million in the nine months ended September 30, 2018 and 2017 , respectively, in each case related to accruals for severance expenses within supporting overhead departments which were not allocated to a specific segment. Restructuring liabilities were classified within Accrued expenses in each of the condensed consolidated balance sheets as of September 30, 2018 and December 31, 2017 . Changes in the restructuring liabilities, substantially all of which are employee-related, during the periods ended September 30, 2018 and December 31, 2017 are summarized as follows ($ in millions): Nine Months Ended Year Ended September 30, December 31, Balance at beginning of year $ 1.7 $ 4.3 Accruals for announced programs 1.1 3.5 Cash payments (2.5 ) (6.4 ) Other 1.8 — Exchange rate impacts — 0.3 Balance at end of period $ 2.1 $ 1.7 Long-lived assets to be sold are classified as held for sale in the period in which all of the following criteria are met: management, having the authority to approve the action, commits to a plan to sell the assets; the assets are available for immediate sale in present condition subject only to terms that are usual and customary for sales of such assets; an active program to locate a buyer and other actions required to complete the plan to sell the assets have been initiated; the sale of the assets is probable, and transfer of the assets is expected to qualify for recognition as a completed sale within one year, except if events or circumstances beyond our control extend the period of time required to sell the assets beyond one year; the assets are being actively marketed for sale at a price that is reasonable in relation to current fair value; and actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn. A long-lived asset that is classified as held for sale is initially measured at the lower of its carrying value or fair value less any costs to sell. Any loss resulting from this measurement is recognized in the period in which the held for sale criteria are met. Conversely, gains are not recognized on the sale of a long-lived asset until the date of sale. The fair value of a long-lived asset less any costs to sell is assessed each reporting period it remains classified as held for sale and any reduction in fair value is reported as an adjustment to the carrying value of the asset. Upon being classified as held for sale, depreciation is ceased. Long-lived assets to be disposed of other than by sale continue to be depreciated. Upon determining that a long-lived asset meets the criteria to be classified as held for sale, the assets and liabilities of the disposal group, if material, are reported in the line item Assets held for sale in our condensed consolidated balance sheets. In early 2015, the Company made the decision to dispose of the Company's mothballed RTL facility and related equipment in the Philippines. These assets are included in the EP segment. During 2015, the Company reclassified the balance of the equipment, along with the land and building associated with the property, at this location from Property, plant and equipment, net, to Assets held for sale on the consolidated balance sheets. The reclassifications were made for all assets that are expected to be sold within one year of the balance sheet date and, as of September 30, 2018 , all of the physical assets of this entity are classified as Assets held for sale. The Company incurred no and $0.8 million in impairment charges related to these assets during the nine months ended September 30, 2018 and 2017 , respectively.

Debt

Debt	9 Months Ended
	Sep. 30, 2018
Debt Disclosure [Abstract]
Debt	Debt The components of total debt are summarized in the following table ($ in millions): September 30, December 31, Revolving credit facility - U.S. dollar borrowings $ 91.0 $ 344.5 Revolving credit facility - Euro borrowings 3.5 26.4 Term loan facility 200.0 — Term loan A-1 — 60.0 Term loan A-2 — 244.4 6.875% senior unsecured notes due October 1, 2026, net of discount of $7.8 million 342.2 — French employee profit sharing 6.7 9.1 Long-term capital lease obligations 4.6 4.1 Other — 1.5 Debt issuance costs (7.2 ) (5.8 ) Total debt 640.8 684.2 Less: Current debt (3.2 ) (5.1 ) Long-term debt $ 637.6 $ 679.1 New Credit Facility On September 25, 2018, the Company entered into a $700.0 million credit agreement (the “New Credit Agreement”), which replaces the Company’s existing senior secured credit facilities and provides for a five -year $500.0 million revolving line of credit (the “Revolving Credit Facility”) and a seven -year $200.0 million bank term loan facility (the “Term Loan Facility”). Subject to certain conditions, including the absence of a default or event of default under the New Credit Agreement, the Company may request incremental loans to be extended under the Revolving Credit Facility or the Term Loan Facility so long as the Company is in pro forma compliance with the financial covenants set forth in the New Credit Agreement and the aggregate of such increases does not exceed $400.0 million . Borrowings under the Revolving Credit Facility will initially bear interest, at the Company’s option, at either (i) 1.75% in excess of a reserve adjusted London Interbank Offered Rate (“LIBOR”) or (ii) 0.75% in excess of an alternative base rate. Borrowings under the Term Loan Facility will initially bear interest, at the Company’s option, at either (i) 2.00% in excess of a reserve adjusted LIBOR rate or (ii) 1.00% in excess of an alternative base rate. The Term Loan amortizes at the rate of 1.0% per year and will mature on September 25, 2025. Under the terms of the New Credit Agreement, the Company will be required to maintain certain financial ratios and comply with certain financial covenants, including maintaining a net debt to EBITDA ratio, as defined in the New Credit Agreement, calculated on a trailing four fiscal quarter basis, not greater than 4.50 and an interest coverage ratio, also as defined in the New Credit Agreement, of not less than 3.00 . In addition, borrowings and loans made under the New Credit Agreement are secured by substantially all of the Company’s and the guarantors’ personal property, excluding certain customary items of collateral, and will be guaranteed by the Company’s existing and future wholly-owned material domestic subsidiaries and by SWM Luxembourg. The Company was in compliance with all of its covenants under the New Credit Agreement at September 30, 2018 . Also on September 25, 2018, the Company borrowed approximately $96.0 million under the Revolving Credit Facility and $200.0 million under the Term Loan Facility. The Company utilized these borrowings under the New Credit Agreement together with the net proceeds from the offering of the Notes to refinance all amounts outstanding under the Company’s Prior Credit Agreement and to pay related fees and expenses. Indenture for 6.875% Senior Unsecured Notes Due 2026 On September 25, 2018, the Company closed a private offering of $350.0 million of 6.875% senior unsecured notes due 2026 (the “Notes”). The Notes were sold in a private placement in reliance on Rule 144A and Regulation S under the Securities Act of 1933, as amended, pursuant to a purchase agreement between the Company, certain subsidiaries of the Company and J.P. Morgan Securities LLC, as representative of the initial purchasers. The Notes are guaranteed on a senior unsecured basis by each of the Company’s existing and future wholly-owned subsidiaries that is a borrower under or that guarantees obligations under the New Credit Agreement (as defined below) or that guarantees certain other indebtedness, subject to certain exceptions. The Notes were issued pursuant to an Indenture (the “Indenture”), dated as of September 25, 2018, by and among the Company, the guarantors listed therein and Wilmington Trust, National Association, as trustee. The Indenture provides that interest on the Notes will accrue from September 25, 2018 and is payable semi-annually in arrears on April 1 and October 1 of each year, beginning on April 1, 2019, and the Notes mature on October 1, 2026. The Company may redeem some or all of the Notes at any time on or after October 1, 2021, at the redemption prices set forth in the Indenture, together with accrued and unpaid interest, if any, to, but excluding, the redemption date. Prior to October 1, 2021, the Company may redeem some or all of the Notes at a price equal to 100% of the principal amount thereof, plus a “make-whole” premium as set forth in the Indenture. The Company may redeem up to 35% of the original aggregate principal amount of the Notes on or prior to October 1, 2021 with the proceeds of certain equity offerings at a redemption price equal to 106.875% of the principal amount of the Notes. If the Company sells certain assets or consummates certain change of control transactions, the Company will be required to make an offer to repurchase the Notes, subject to certain conditions. The Indenture contains certain covenants that, among other things, limit the Company’s ability and the ability of its restricted subsidiaries to incur additional indebtedness, make certain dividends, repurchase Company stock or make other distributions, make certain investments, create liens, transfer or sell assets, merge or consolidate and enter into transactions with the Company’s affiliates. Such covenants are subject to a number of exceptions and qualifications set forth in the Indenture. The Indenture also contains certain customary events of default, including failure to make payments in respect of the principal amount of the Notes, failure to make payments of interest on the Notes when due and payable, failure to comply with certain covenants and agreements and certain events of bankruptcy or insolvency. The Company was in compliance with all of its covenants under the Indenture at September 30, 2018 . As of September 30, 2018 , the average interest rate was 4.00% on outstanding US Revolving Credit Facility borrowings, 1.75% on outstanding Euro Revolving Credit Facility borrowings and 4.25% on outstanding Term Loan Facility borrowings. The effective rate on the 6.875% senior unsecured notes due 2026 was 7.245% . The weighted average effective interest rate on the Company's debt facilities, including the impact of interest rate hedges, was approximately 4.01% and 3.12% for the nine months ended September 30, 2018 and 2017 , respectively. In conjunction with the Indenture and New Credit Agreement, the Company capitalized approximately $3.4 million in deferred debt issuance costs during the third quarter of 2018 which will be amortized over the term of the related debt instruments. Additionally, the Company wrote-off $0.5 million in deferred debt issuance costs related to the prior debt facilities. As of September 30, 2018 and December 31, 2017 , the Company's total deferred debt issuance costs, net of accumulated amortization, were $7.2 million and $5.8 million , respectively. Amortization expense of $1.4 million was recorded during each of the nine months ended September 30, 2018 and 2017 , respectively, and has been included as a component of Interest expense in the accompanying consolidated statements of income. Principal Repayments Under the New Credit Agreement, the Company selects an "interest period" for each of its borrowings from the Revolving Credit Facility. The Company can repay such borrowings and borrow again at a subsequent date if it chooses to do so, providing it flexibility and efficient use of any excess cash. The Company currently has the intent and ability to allow its debt balances to remain outstanding and expects to continue to file notices of continuation related to its borrowings outstanding at September 30, 2018 such that those amounts are not expected to be repaid prior to the September 2023 expiration of the Revolving Credit Facility. Following are the expected maturities for the Company's debt obligations as of September 30, 2018 ($ in millions): 2018 $ 0.5 2019 4.5 2020 3.2 2021 3.9 2022 3.7 Thereafter 640.0 Total $ 655.8 Prior Credit Agreement On December 1, 2016, the Company entered into the First Amendment to the Second Amended and Restated Credit Agreement ("First Amendment") with JPMorgan Chase Bank, N.A. as administrative agent. Under the terms of the First Amendment, and effective upon the closing of the Conwed acquisition on January 20, 2017, the Company's maximum net debt to EBITDA ratio, as defined in the First Amendment, calculated on a trailing four fiscal quarter basis, was required to be not greater than 4.25 at December 31, 2017, reducing to 4.00 after December 31, 2017, 3.75 after March 31, 2018, 3.50 after June 30, 2018 and 3.00 after December 31, 2018. On October 28, 2015, the Company, together with two of its Luxembourg-based wholly-owned holding subsidiaries, entered into the Second Amended and Restated Credit Agreement, or the Amended Credit Agreement, with JPMorgan Chase Bank, N.A., as administrative agent, providing for credit facilities in the aggregate principal amount of $1 billion , consisting of a $650 million revolving credit facility, or Revolving Credit Facility, available to the Company; a $100 million Term Loan A-1, or Term Loan A-1, made to the Company; and a $250 million Term Loan A-2, or Term Loan A-2 and, together with Term Loan A-1, the Term Loans, made to the Company. The Revolving Credit Facility was to mature on October 28, 2020 . The Term Loan A-1 amortized at the rate of 5.0% for the first two years, at the rate of 10.0% for the final three years and was to mature on October 28, 2020 . The Term Loan A-2 amortized at the rate of 1.0% per year and was to mature on October 28, 2022 . The Term Loans were generally subject to mandatory repayment out of the net cash proceeds of asset sales which are not reinvested in operating assets. The credit facilities were secured by substantially all of the personal property of the Company and its domestic subsidiaries, while the obligations of the Luxembourg-based holding subsidiaries were secured by a pledge of certain of the equity interests held in their operating subsidiaries. In December 2015, the Company prepaid the full amount of amortization for Term Loan A-1, which totaled $40 million . The interest rate margins applicable to the Revolving Credit Facility and the Term Loans under the Amended Credit Agreement were based on a fluctuating rate of interest measured by reference to either, at the Company's option, (i) a base rate, plus an applicable margin, which ranged from 0.25% to 1.50% , in the case of the Revolving Credit Facility and Term Loan A-1, and from 0.50% to 1.75% , in the case of Term Loan A-2, or (ii) an adjusted London interbank offered rate (adjusted for maximum reserves), or LIBOR, plus an applicable margin, which ranged from 1.25% to 2.50% , in the case of the Revolving Credit Facility and Term Loan A-1, and from 1.50% to 2.75% , in the case of Term Loan A-2. The applicable margin, in each case, was adjusted from time to time based on the Company's ratio of net debt to EBITDA as defined in the Amended Credit Agreement. In conjunction with the First Amendment, the Company capitalized approximately $0.6 million in deferred debt issuance costs during the first quarter of 2017 which will be amortized over the term of the related debt instruments. Fair Value of Debt At September 30, 2018 , the fair market value of the Company's 6.875% senior unsecured notes was $359.6 million . The fair market value for the senior unsecured notes was determined using quoted market prices, which are directly observable Level 1 inputs. The fair market value of all other debt as of September 30, 2018 approximated the respective carrying amounts as the interest rates are variable and based on current market indices. At December 31, 2017 , the estimated fair values of the Company’s current and long-term debt approximated the respective carrying amounts as the interest rates were variable and based on current market indices.

Derivatives

Derivatives	9 Months Ended
	Sep. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives	Derivatives In the normal course of business, the Company is exposed to foreign currency exchange rate risk and interest rate risk on its variable-rate debt. To manage these risks, the Company utilizes a variety of practices including, where considered appropriate, derivative instruments. The Company has no derivative instruments for trading or speculative purposes or derivatives with credit risk-related contingent features. All derivative instruments used by the Company are either exchange traded or are entered into with major financial institutions in order to reduce credit risk and risk of nonperformance by third parties. The fair values of the Company’s derivative instruments are determined using observable inputs and are considered Level 2 assets or liabilities. The Company utilizes currency forward, swap and, to a lesser extent, option contracts to selectively hedge its exposure to foreign currency risk when it is practical and economical to do so. The use of these contracts minimizes transactional exposure to exchange rate changes. We designate certain of our foreign currency hedges as cash flow hedges. Changes in the fair value of cash flow hedges are reported as a component of other comprehensive income (loss) and reclassified into earnings when the forecasted transaction affects earnings. For foreign exchange contracts not designated as cash flow hedges, changes in the contracts’ fair values are recorded to net income each period. The Company selectively hedges its exposure to interest rate increases on variable-rate, long-term debt when it is practical and economical to do so. Changes in the fair value of interest rate contracts considered cash flow hedges are reported as a component of other comprehensive income (loss) and reclassified into earnings when the forecasted transaction affects earnings. On January 20, 2017, the Company entered into an interest rate swap transaction with JPMorgan Chase Bank, N.A. for a three -year term on a notional amount of $315 million . The interest rate swap is intended to manage the Company's interest rate risk by fixing the interest rate on a portion of the Company's debt currently outstanding under its credit facility that was previously subject to a floating interest rate equal to 1-month LIBOR plus a credit spread. The swap provides for the Company to pay a fixed rate of 1.65% per annum in addition to the credit spread on such portion of its outstanding debt in exchange for receiving a variable interest rate based on 1-month LIBOR. On September 25, 2018, in conjunction with the debt refinancing discussed in Note 11. Debt, the Company settled a notional amount of $130 million which resulted in a gain of $1.8 million as of the settlement date. This gain will be amortized on a ratable basis from Accumulated other comprehensive income into income as interest expense over the remaining term of the interest rate swap. On January 20, 2017, the Company also entered into a three -year cross-currency swap with JPMorgan Chase Bank, N.A. designated as a hedge of a portion of the Company's net investment in certain Euro-denominated subsidiaries. The terms of the cross-currency swap provide for an exchange of principal on a notional amount of $100 million swapped to €93.7 million at maturity. The Company will receive from our swap counterparty U.S. dollar interest at a fixed rate of 1.65% per annum and pay to our swap counterparty Euro interest at a fixed rate of -0.18% per annum. The following table presents the fair value of asset and liability derivatives and the respective balance sheet locations at September 30, 2018 ($ in millions): Asset Derivatives Liability Derivatives Balance Sheet Location Fair Value Balance Sheet Location Fair Value Derivatives designated as hedges: Foreign exchange contracts Accounts receivable, net $ 2.3 Accrued expenses $ 2.8 Foreign exchange contracts Other assets — Other liabilities 11.3 Interest rate contracts Other assets 2.6 Other liabilities — Total derivatives designated as hedges 4.9 14.1 Derivatives not designated as hedges: Foreign exchange contracts Accounts receivable, net — Accrued expenses 0.2 Total derivatives not designated as hedges — 0.2 Total derivatives $ 4.9 $ 14.3 The following table presents the fair value of asset and liability derivatives and the respective balance sheet locations at December 31, 2017 ($ in millions): Asset Derivatives Liability Derivatives Balance Sheet Location Fair Value Balance Sheet Location Fair Value Derivatives designated as hedges: Foreign exchange contracts Accounts receivable, net $ 4.7 Accrued expenses $ 0.2 Foreign exchange contracts Other assets — Other liabilities 14.2 Interest rate contracts Other assets 2.0 Other liabilities — Total derivatives designated as hedges 6.7 14.4 Derivatives not designated as hedges: Foreign exchange contracts Accounts receivable, net 0.1 Accounts payable — Total derivatives not designated as hedges 0.1 — Total derivatives $ 6.8 $ 14.4 The following table provides the gross effect that derivative instruments in cash flow hedging relationships had on accumulated other comprehensive income (loss), or AOCI, and results of operations ($ in millions): Derivatives Designated as Cash Flow Hedging Relationships Unrealized Gain (Loss) Recognized in AOCI on Derivatives, Net of Tax Location of Gain (Loss) Reclassified from AOCI Gain (Loss) Reclassified from AOCI Three Months Ended Nine Months Ended Three Months Ended Nine Months Ended September 30, September 30, September 30, September 30, 2018 2017 2018 2017 2018 2017 2018 2017 Foreign exchange contracts $ (0.4 ) $ 0.6 $ (3.1 ) $ 2.1 Net sales $ (0.1 ) $ 0.2 $ 0.6 $ 0.1 Foreign exchange contracts (0.4 ) (3.4 ) (0.4 ) (6.7 ) Other income, net 0.1 (0.8 ) 0.1 0.4 Interest rate contracts 1.2 — 4.2 (0.8 ) Interest expense 0.8 (0.3 ) 1.7 (1.0 ) Total $ 0.4 $ (2.8 ) $ 0.7 $ (5.4 ) $ 0.8 $ (0.9 ) $ 2.4 $ (0.5 ) The Company's designated derivative instruments are highly effective. As such, related to the hedge ineffectiveness or amounts excluded from hedge effectiveness testing, there were no gains or losses recognized immediately in income for the three and nine months ended September 30, 2018 or 2017 , other than those related to the cross-currency swap, noted below. In January 2018, the Company early adopted the guidance in ASU 2017-12, "Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities." Upon adoption of this standard, the Company elected to de-designate the original hedging relationship of its pay-EUR, receive-USD cross currency swap and re-designate the cross currency swap with the terms based on the spot rate of the EUR. Prospectively, future changes in the components related to the spot change on the notional will be recorded in OCI and remain there until the hedged subsidiaries are substantially liquidated. Starting with the adoption date, all coupon payments will be recorded in earnings and the initial value of excluded components currently recorded in AOCI as an unrealized translation adjustment will be amortized into interest expense over the remaining 25 months of the swap, resulting in a positive impact to Net income. As of September 30, 2018 , the loss, net of taxes, recognized in Other comprehensive income on the cross currency swap derivative was $7.0 million . For the three months ended September 30, 2018 , $0.2 million was reclassified from Accumulated other comprehensive income into income as interest expense and $0.5 million was recognized in income as derivative amounts excluded from effectiveness testing as Interest expense. For the nine months ended September 30, 2018 , $0.6 million was reclassified from Accumulated other comprehensive income into income as Interest expense and $1.4 million was recognized in income as derivative amounts excluded from effectiveness testing as Interest expense. The following table provides the effect that derivative instruments not designated as cash flow hedging instruments had on net income ($ in millions): Derivatives Not Designated as Cash Flow Hedging Instruments Location of Gain (Loss) Recognized in Income Amount of Gain (Loss) Recognized in Income Three Months Ended Nine Months Ended September 30, 2018 September 30, 2017 September 30, 2018 September 30, 2017 Foreign exchange contracts Other income, net $ — $ 4.6 $ (2.1 ) $ 3.2

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Litigation Brazil Imposto sobre Circulação de Mercadorias e Serviços, or ICMS, a form of value-added tax in Brazil, was assessed to our Brazilian subsidiary Schweitzer-Mauduit do Brasil Indústria e Comércio de Papel Ltda. ("SWM-B") in December of 2000. SWM-B received two assessments from the tax authorities of the State of Rio de Janeiro for unpaid ICMS taxes on certain raw materials from January 1995 through November 2000, collectively the Raw Materials Assessment. The Raw Materials Assessments concerned the accrual and use by SWM-B of ICMS tax credits generated from the production and sale of certain non-tobacco related grades of paper sold domestically. SWM-B has contested the Raw Materials Assessments based on Article 150, VI of the Brazilian Federal Constitution of 1988, which grants immunity from ICMS taxes to papers intended for printing books, newspapers and periodicals, or immune papers, and thus to the raw material inputs used to produce immune papers. The Federal Supreme Court decided the first Raw Materials Assessment in favor of SWM-B. SWM-B's appeal on the merits concerning Assessment 2 in the amount of approximately $10.7 million was denied by a single justice in a different chamber of the Federal Supreme Court of Brazil on April 9, 2018, and SWM-B has appealed his decision to the full chamber of the Federal Supreme Court on May 11, 2018. SWM-B received assessments from the tax authorities of the State of Rio de Janeiro for unpaid ICMS and Fundo Estadual de Combate à Pobreza ("FECP", a value-added tax similar to ICMS) taxes on interstate purchases of electricity. The state issued four sets of assessments against SWM-B, one for May 2006 - November 2007, a second for January 2008 - December 2010, a third for September 2011 - September 2013 which was replaced by a smaller assessment for January - June 2013, and a fourth for July 2013 - December 2017 (collectively the "Electricity Assessments"). SWM-B challenged all Electricity Assessments in administrative proceedings before the state tax council (in the first-level court Junta de Revisão Fiscal and, where appropriate, the appellate court Conselho de Contribuintes) based on Resolution 1.610/89, which defers these taxes on electricity purchased by an "electricity-intensive consumer." In 2014, a majority of the Conselho de Contribuintes sitting en banc ruled against SWM-B in the first and second Electricity Assessments ( $5.0 million and $7.5 million , respectively, based on the foreign currency exchange rate at September 30, 2018 ), and SWM-B is now pursuing challenges to these two assessments in the state judicial system. Different chambers of the judicial court granted SWM-B preliminary injunctions against enforcement of these two assessments. The appellate administrative court (Conselho de Contribuintes) unanimously upheld SWM-B's challenge to the third Electricity Assessment and dismissed this Electricity Assessment on technical grounds, after the State admitted the tax did not apply as it had asserted. Instead, in August 2018, the State filed a revised Electricity Assessment in the amount of $0.5 million for ICMS on electricity purchased during part of 2013. In August 2018, the State filed a fourth Electricity Assessment in the amount of $8.2 million pertaining to ICMS and FECP on electricity purchased from July 2013 to December 2017. SWM-B filed challenges to these recent assessments in the first-level administrative court based on the statute of limitations and on the same grounds as the older cases. Additionally, the State issued a new regulation effective January 1, 2018 that only specific industries are “electricity-intensive consumers,” a list that excludes paper manufacturers. SWM-B contends this regulation shows that paper manufacturers were electricity-intensive consumers eligible to defer ICMS before 2018. SWM-B believes that both the remaining Raw Materials Assessment and the remaining Electricity Assessments will ultimately be resolved in its favor. No liability has been recorded in our consolidated financial statements for these assessments based on our evaluation of these matters under the facts and law as presently understood. The Company can give no assurance as to the ultimate outcome of such proceedings. France In December 2016, the Conseil de Prud’hommes d’Orange (a French court dealing with labor matters) rendered a decision by which the Company’s wholly owned subsidiary, Schweitzer Mauduit France (“SWM France”), was ordered to pay approximately €1.3 million to 18 former employees of Malaucène Industries, another wholly owned subsidiary, on the grounds, among other things, that SWM France was a “co-employer” of the plaintiffs, and, as a result, liable for certain obligations of Malaucène Industries with respect to such employees. Malaucène Industries stopped production in 2009. The Company believes that SWM France, which is a corporate holding company and indirect corporate parent of Malaucène Industries, is not a “co-employer” of any person and that the other claims are also without merit. The Company has no liability recorded in the consolidated financial statements for this matter, believing that the chances of SWM France to reverse the decision on appeal are sufficient that no such reserve is warranted. There can be no assurance, however, that the court of appeals will decide in favor of SWM France on any of the questions pending before the court. Environmental Matters The Company's operations are subject to various nations' federal, state and local laws, regulations and ordinances relating to environmental matters. The nature of the Company's operations exposes it to the risk of claims with respect to various environmental matters, and there can be no assurance that material costs or liabilities will not be incurred in connection with such claims. While the Company has incurred in the past several years, and will continue to incur, capital and operating expenditures in order to comply with environmental laws and regulations, it believes that its future cost of compliance with environmental laws, regulations and ordinances, and its exposure to liability for environmental claims and its obligation to participate in the remediation and monitoring of certain hazardous waste disposal sites, will not have a material effect on its financial condition, results of operations or cash flows. However, future events, such as changes in existing laws and regulations (including the enforcement thereof), or unknown contamination of sites owned, operated or used for waste disposal by the Company (including contamination caused by prior owners and operators of such sites or other waste generators), or similar circumstances arising at our unconsolidated joint ventures, may give rise to additional costs which could have a material effect on the Company's financial condition or results of operations. General Matters In the ordinary course of its business activities, the Company and its subsidiaries are involved in certain other judicial, administrative and regulatory proceedings involving both private parties and governmental authorities. These proceedings include insured and uninsured regulatory, employment, general and commercial liability, environmental, intellectual property rights and other matters. At this time, the Company does not expect any of these proceedings to have a material adverse effect on its reputation, business, financial condition, results of operations or cash flows. However, as the outcomes of such proceedings are unpredictable, the Company can give no assurance that the results of any such proceedings will not materially affect its reputation, business, financial condition, results of operations or cash flows.

Postretirement and Other Benefi

Postretirement and Other Benefits	9 Months Ended
	Sep. 30, 2018
Retirement Benefits [Abstract]
Postretirement and Other Benefits	Postretirement and Other Benefits The Company sponsors pension benefits in the United States, France and Canada and OPEB benefits related to postretirement healthcare and life insurance in the United States and Canada. The Company’s Canadian pension and OPEB benefits are not material and therefore are not included in the following disclosures. Pension and OPEB Benefits The components of net pension and OPEB benefit costs for U.S. employees and net pension benefit costs for French employees during the three or nine months ended September 30, 2018 and 2017 were as follows ($ in millions): Three Months Ended September 30, U.S. Pension Benefits French Pension Benefits U.S. OPEB Benefits 2018 2017 2018 2017 2018 2017 Service cost $ — $ — $ 0.2 $ 0.3 $ — $ — Interest cost 1.0 1.2 0.1 0.1 — — Expected return on plan assets (1.5 ) (1.6 ) — — — — Amortizations and other 0.7 0.6 0.2 0.3 0.1 0.1 Net periodic benefit cost $ 0.2 $ 0.2 $ 0.5 $ 0.7 $ 0.1 $ 0.1 Nine Months Ended September 30, U.S. Pension Benefits French Pension Benefits U.S. OPEB Benefits 2018 2017 2018 2017 2018 2017 Service cost $ — $ — $ 0.8 $ 0.8 $ — $ — Interest cost 3.2 3.6 0.3 0.3 — — Expected return on plan assets (4.4 ) (4.8 ) (0.1 ) (0.1 ) — — Amortizations and other 2.4 2.4 0.6 0.9 0.2 0.2 Net periodic benefit cost $ 1.2 $ 1.2 $ 1.6 $ 1.9 $ 0.2 $ 0.2 The components of net periodic benefit cost other than the service cost component are included in Other income (expense), net in the Condensed Consolidated Statements of Income. During the fiscal year ending December 31, 2018 , the Company expects to recognize approximately $3.4 million for amortization of accumulated other comprehensive loss related to its U.S. pension and OPEB plans and approximately $0.8 million for its French pension plans.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2018
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For interim financial reporting, the Company estimates the annual tax rate based on projected taxable income for the full year and records a quarterly income tax provision in accordance with ASC No. 740-270 "Accounting for Income Taxes in Interim Periods." These interim estimates are subject to variation due to several factors, including the ability of the Company to accurately forecast pre-tax and taxable income and loss by jurisdiction, changes in laws or regulations, and expenses or losses for which tax benefits are not recognized. Jurisdictions with a projected loss for the year or an actual year-to-date loss where no tax benefit can be recognized are excluded from the estimated annual effective tax rate. The impact of including these jurisdictions on the quarterly effective tax rate calculations could result in a higher or lower effective tax rate during a particular quarter, based upon the mix and timing of actual earnings versus annual projections. On December 22, 2017, the 2017 Tax Cuts and Jobs Act (the "Tax Act") was enacted into law and the new legislation contains several key tax provisions that require recognition of the effect of the tax law changes in the period of enactment. In December 2017, the SEC staff issued Staff Accounting Bulletin No. 118, Income Tax Accounting Implications of the Tax Cuts and Jobs Act ("SAB 118"), which allows the Company to record provisional amounts during a measurement period not to extend beyond one year of the enactment date. The Company is applying the guidance in SAB 118 when accounting for the enactment date effects of the Tax Act. The Company determined that the remeasurement of its deferred tax assets and liabilities, transition tax liability and the related foreign currency implications, state taxes, and tax liability associated with investments in non-US subsidiaries where book basis exceeds tax basis were provisional amounts and reasonable estimates as of December 31, 2017. At September 30, 2018, the Company has not completed its accounting for the tax effects of the Tax Act. As of September 30, 2018, the Company has updated its provisional estimates for transition tax and its indefinite reinvestment assertion. During the three months ended September 30, 2018, the Company recorded a $13.0 million benefit as an update to its provisional estimate for its transition tax liability based on analyses of its accumulated earnings and foreign taxes paid. Due to the transition tax, the Company will incur U.S. tax on substantially all of its prior accumulated earnings of its foreign subsidiaries. This will increase the Company’s previously taxed earnings and generally allows for the repatriation of earnings without additional U.S. federal tax. However, any repatriation of its foreign earnings could still be subjected to withholding taxes, state taxes, foreign currency gain or loss or other income taxes that might be incurred. While the Company’s analysis is incomplete at this time with respect to its investment intentions for its accumulated foreign earnings, the Company has repatriated $24.5 million of foreign earnings and recorded withholding taxes on such distributions. As of September 30, 2018, the Company does not intend to be permanently reinvested with respect to certain of its non-US earnings, but in connection with the finalization of its transition tax calculation the Company will further evaluate, among other factors, the need for cash within and outside the United States, legal entity capitalization requirements, cash controls imposed in foreign jurisdictions, withholding taxes and the availability to offset with foreign tax credits in determining its investment assertion on its accumulated foreign earnings. The impact of the Tax Act may differ from provisional estimates, possibly materially, during the one-year measurement period due to further refinement of the Company’s calculations. Further, additional guidance may be issued to address questions that arise because of the Tax Act, which may affect actions the Company may take as a result of the Tax Act. The Tax Act subjects a U.S. shareholder to tax on the Global Intangible Low Tax Income ("GILTI") earned by certain foreign subsidiaries. The FASB Staff Q&A, Topic 740, No. 5, Accounting for GILTI, states that an entity can make an accounting policy election to either recognize deferred taxes for temporary basis differences expected to reverse as GILTI in future years or to provide for the tax expense related to GILTI in the year the tax is incurred as a period expense only. Due to the complexity of the new GILTI tax rules, the Company is continuing to evaluate this provision of the Tax Act and the accounting policy choice of either (1) treating taxes due on future U.S. inclusions in taxable income related to GILTI as a current-period expense when incurred or (2) factoring such amounts into the Company’s measurement of its deferred taxes. Since the future impacts on taxable income depends on a number of different aspects of estimated future results of global operations, the policy decision has not yet been made. All unrecognized tax positions could impact the Company's effective tax rate if recognized. With respect to penalties and interest incurred from income tax assessments or related to unrecognized tax benefits, the Company’s policy is to classify penalties as provision for income taxes and interest as interest expense in its consolidated statement of income. There were no material income tax penalties or interest accrued during the three or nine months ended September 30, 2018 or 2017 . The Company's effective tax rate from continuing operations was (16.0)% and 27.0% for the three months ended September 30, 2018 and 2017 , respectively. The decrease was materially due to the favorable US tax rate reduction and mix of earnings by jurisdiction, partially offset by other unfavorable US tax reform adjustments. The Company's effective tax rate from continuing operations was 10.6% and 30.2% for the nine months ended September 30, 2018 and 2017 , respectively. The decrease was materially due to the favorable US tax rate reduction and mix of earnings by jurisdiction, partially offset by other unfavorable US tax reform adjustments.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2018
Segment Reporting [Abstract]
Segment Information	Segment Information The Company's two operating product line segments are also the Company's reportable segments: Advanced Materials & Structures and Engineered Papers. The AMS segment primarily produces engineered resin-based rolled goods such as nets, films and other non-wovens for use in high-performance applications in the filtration, infrastructure and construction, transportation, medical and industrial end-markets. It consists of the operations of various acquisitions. The EP segment primarily produces various cigarette papers and recon for sale to cigarette manufacturers. The EP segment also includes non-tobacco paper for battery separators, printing and writing, drinking straw wrap and furniture laminates. Information about Net Sales and Operating Profit The accounting policies of these segments are the same as those described in Note 2. Summary of Significant Accounting Policies in the notes to the consolidated financial statements in the Company's Annual Report on Form 10-K for the year ended December 31, 2017 . The Company primarily evaluates segment performance and allocates resources based on operating profit. Expense amounts not associated with segments are referred to as unallocated expenses. In conjunction with the Company's adoption of ASU 2017-07, the Company recorded a reclassification of the components of net periodic pension cost, other than service cost, from Cost of products sold and General expense to Other income (expense), net, in the Consolidated Statements of Income. The reclassification of these costs effects only the EP segment, as there are no pension costs associated with the AMS segment. For the three and nine months ended September 30, 2017 , $0.8 million and $2.6 million , respectively, in pension expense was reclassified from Operating profit to Other expense in the condensed consolidated statement of income for the 2017 comparative period. The adoption of this guidance had no effect on Net income in the Consolidated Statements of Income and no effect on the other condensed consolidated financial statements. ($ in millions) Net Sales Three Months Ended Nine Months Ended September 30, 2018 September 30, 2017 September 30, 2018 September 30, 2017 Advanced Materials & Structures $ 120.8 46.4 % $ 116.2 45.1 % $ 360.1 45.4 % $ 334.0 44.7 % Engineered Papers 139.5 53.6 141.6 54.9 432.5 54.6 412.4 55.3 Total Consolidated $ 260.3 100.0 % $ 257.8 100.0 % $ 792.6 100.0 % $ 746.4 100.0 % ($ in millions) Operating Profit Three Months Ended Nine Months Ended September 30, 2018 September 30, 2017 September 30, 2018 September 30, 2017 Advanced Materials & Structures $ 11.9 38.3 % $ 15.4 39.2 % $ 39.5 36.5 % $ 40.9 38.2 % Engineered Papers 27.5 88.4 33.1 84.2 94.7 87.5 92.6 86.4 Unallocated (8.3 ) (26.7 ) (9.2 ) (23.4 ) (26.0 ) (24.0 ) (26.3 ) (24.6 ) Total Consolidated $ 31.1 100.0 % $ 39.3 100.0 % $ 108.2 100.0 % $ 107.2 100.0 % ($ in millions) Segment Assets September 30, December 31, Advanced Materials & Structures $ 808.6 $ 811.7 Engineered Papers 511.8 537.6 Unallocated 166.9 193.2 Total Consolidated $ 1,487.3 $ 1,542.5

Subsequent Event

Subsequent Event	9 Months Ended
	Sep. 30, 2018
Subsequent Events [Abstract]
Subsequent Event	Subsequent Event On October 22, 2018, the Company entered into a three -year cross-currency swap with Bank of America Merrill Lynch designated as a hedge of a portion of the Company's net investment in certain Euro-denominated subsidiaries. The terms of the cross-currency swap provide for an exchange of principal on a notional amount of $75.0 million swapped to €65.4 million at maturity. The Company will receive from our swap counterparty U.S. dollar interest at a fixed rate of 6.875% per annum and pay to our swap counterparty Euro interest at a fixed rate of 3.6725% per annum. As the terms of the swap are based on the forward contract rate of the EUR, the swap will be considered a net investment hedge to which hedge accounting will be applied under ASC 815-20, Derivatives and Hedging and ASC 830-20, Foreign Currency Matters.

General (Policies)

General (Policies)	9 Months Ended
	Sep. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements and the notes thereto have been prepared in accordance with the instructions of Form 10-Q and Rule 10-01 of Regulation S-X of the Securities and Exchange Commission, or the SEC, and do not include all of the information and disclosures required by accounting principles generally accepted in the United States of America, or U.S. GAAP. However, such information reflects all adjustments (consisting of normal recurring adjustments) which are, in the opinion of management, necessary for a fair statement of results for the interim periods including the results of a business reclassified as a discontinued operation which is more fully described in Note 5 . Discontinued Operations. The results of operations for the three and nine months ended September 30, 2018 are not necessarily indicative of the results to be expected for the full year. The unaudited condensed consolidated financial statements and these notes thereto included herein should be read in conjunction with the audited consolidated financial statements and the related notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017 , as filed with the SEC on March 1, 2018.
Principles of Consolidation	Principles of Consolidation The condensed consolidated financial statements include the accounts of the Company and its wholly-owned, majority-owned and controlled subsidiaries. The Company’s share of the net income of its 50% -owned joint ventures in China is included in the condensed consolidated statements of income as Income from equity affiliates, net of income taxes. Intercompany balances and transactions have been eliminated. Certain reclassifications of prior year data were made in the Condensed Consolidated Statements of Income and in the Notes to Consolidated Financial Statements. The reclassifications were made to conform to the current year presentation.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires estimates and assumptions that affect the reported amounts of assets and liabilities, revenues and expenses and related disclosures of contingent assets and liabilities in the condensed consolidated financial statements and accompanying notes. Estimates are used for, but not limited to, inventory valuation, useful lives of tangible and intangible assets, fair values, sales returns and rebates, receivables valuation, pension, postretirement and other benefits, restructuring and impairment, taxes and contingencies. Actual results could differ materially from those estimates.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board, or FASB, issued Accounting Standards Update ("ASU") 2014-09, "Revenue from Contracts with Customers" (Topic 606). This guidance specifies how and when an entity will recognize revenue arising from contracts with customers and requires entities to disclose information about the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. The Company adopted this ASU effective January 1, 2018, utilizing the modified retrospective transition approach upon adoption. This approach required an adjustment upon adoption to the financial statements to reflect the cumulative impact of the guidance and results in no change to prior period financial statements. The guidance in this update was applied to all contracts that were not completed at the date of adoption. Based on the evaluation of the provisions included in the new guidance, along with the related updates discussed below, the adoption of this standard resulted in a cumulative-effect adjustment directly to retained earnings of $0.5 million as of January 1, 2018. The adoption of this guidance did not materially impact the amount or timing of revenues recognized in the consolidated financial statements or materially effect our financial position. See Note 2 . Revenue Recognition for further discussion. In February 2016, the FASB issued ASU 2016-02, "Leases (Topic 842): Amendments to the FASB Accounting Standards Codification." The new standard establishes a right-of-use model that requires a lessee to record a right-of-use asset and a lease liability on the balance sheet for all leases with terms longer than twelve months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. This guidance is effective for annual reporting periods beginning after December 15, 2018, and interim periods thereafter. Early adoption is permitted. In July 2018, the FASB issued ASU 2018-11, "Leases (Topic 842) - Targeted Improvements", providing companies with the option to adopt the provisions of the standard prospectively without adjusting comparative periods; the Company expects to elect this option for transition and adopt the standard on January 1, 2019. Upon adoption, the Company will recognize a cumulative-effect adjustment to the opening balance of retained earnings. The Company plans to apply the package of practical expedients provided in the standard. The Company has established an implementation team in order to analyze the standard and is currently modifying its current accounting policies and procedures for differences and changes which will result from applying the requirements of the new standard to its lease contracts. The Company expects that adoption will have a material impact on the consolidated balance sheets related to recording right-of-use assets and corresponding lease liabilities. The Company is also currently in the process of evaluating the impact of adoption on the consolidated statements of income, but does not expect that the impact will be material and will represent a timing difference in recognition of lease expense over the lease term of certain lease contracts. The Company does not expect the adoption of the new lease standard to have an impact on its debt covenant compliance under its current debt and indenture agreements. In March, April and May 2016, the FASB issued ASU 2016-08, “Revenue from Contracts with Customers: Principal versus Agent Considerations (Reporting Revenue Gross versus Net),” ASU 2016-10, “Revenue from Contracts with Customers: Identifying Performance Obligations and Licensing,” ASU 2016-11, "Revenue Recognition (Topic 605) and Derivatives and Hedging (Topic 815): Rescission of SEC Guidance Because of Accounting Standards Updates 2014-09 and 2014-16 Pursuant to Staff Announcements at the March 3, 2016 EITF Meeting," and ASU 2016-12, "Revenue from Contracts with Customers: Narrow-Scope Improvements and Practical Expedients," which provide supplemental adoption guidance and clarification to ASU 2014-09. ASU 2016-08, ASU 2016-10, ASU 2016-11 and ASU 2016-12 must be adopted concurrently with the adoption of ASU 2014-09. The Company adopted these updates effective January 1, 2018 and adoption of these updates did not materially affect our financial position or materially impact the amount or timing of revenues recognized in the consolidated financial statements, as discussed above. See Note 2 . Revenue Recognition for further discussion. In October 2016, the FASB issued ASU 2016-16, "Income Taxes (Topic 718): Intra-Entity Transfers of Assets Other Than Inventory." This standard states that an entity should recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs, thus eliminating the exception for an intra-entity transfer of an asset other than inventory. This guidance is effective for annual reporting periods beginning after December 15, 2017, including interim reporting periods within those annual reporting periods. Early adoption is permitted. The Company adopted this ASU effective January 1, 2018, utilizing the modified retrospective basis transition approach upon adoption. The adoption of this guidance resulted in a cumulative-effect adjustment directly to retained earnings of $2.2 million as of January 1, 2018. In January 2017, the FASB issued ASU No. 2017-01, "Business Combinations (Topic 805): Clarifying the Definition of a Business." The guidance clarifies the definition of a business with the objective of assisting entities in evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. Acquisitions of integrated sets of assets and activities that do not meet the definition of a business are accounted for as asset acquisitions. The new update is effective for annual periods beginning after December 15, 2017. The Company adopted this guidance as of January 1, 2018. Adoption of ASU 2017-01 did not have an impact on the consolidated financial statements. In January 2017, the FASB issued ASU 2017-04, "Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment." The amendment eliminates the second step of the analysis that required the measurement of a goodwill impairment by comparing the implied value of a reporting unit’s goodwill and the goodwill’s carrying amount. This guidance is effective for annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2019. Early adoption is permitted. The Company is currently in the process of evaluating the impact of the pronouncement and does not expect the adoption of this guidance to have a material impact on the consolidated financial statements. In March 2017, the FASB issued ASU 2017-07, "Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost." The amendment requires an employer to report the service cost component in the same line item or line items as other compensation costs arising from services rendered by the pertinent employees during the period. The other components of net benefit cost are required to be presented in the income statement separately from the service cost component and outside a subtotal from operations. This guidance is effective for annual periods beginning after December 15, 2017. The Company adopted this ASU effective January 1, 2018, utilizing the retrospective transition approach upon adoption. The adoption of this guidance resulted in a reclassification of the components of net periodic pension cost, other than service cost, from Cost of products sold and General expense to Other income (expense), net, in the Consolidated Statements of Income. The reclassification of these costs effects only the EP segment, as there are no pension costs associated with the AMS segment. For the three and nine months ended September 30, 2017 , respectively, $0.8 million and $2.6 million in pension expense were reclassified from Operating profit to Other expense in the condensed consolidated statement of income for the 2017 comparative periods. The adoption of this guidance had no effect on Net income in the Consolidated Statements of Income and no effect on the other consolidated financial statements. In May 2017, the FASB issued ASU 2017-09, "Compensation-Stock Compensation (Topic 718): Scope of Modification Accounting". This amendment clarifies the changes to terms or conditions of a share-based payment award that require an entity to apply modification accounting. ASU 2017-09 is effective for annual reporting periods, and interim periods therein, beginning after December 15, 2017. Early application is permitted and prospective application is required. The Company adopted this guidance as of January 1, 2018. Adoption of ASU 2017-09 did not have a material impact on the consolidated financial statements. In August 2017, the FASB issued ASU 2017-12, "Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities." This amendment better aligns an entity's risk management activities and financial reporting for hedging relationships through changes to both the designation and measurement guidance for qualifying hedging relationships and the presentation of hedge results. ASU 2017-12 is effective for annual reporting periods, and interim periods therein, beginning after December 15, 2018. Early application is permitted and should be applied to hedging relationships existing on the date of adoption. The effect of adoption should be reflected as of the beginning of the fiscal year of adoption. The Company elected to early adopt this guidance as of January 1, 2018. Refer to Note 12 . Derivatives for additional information regarding the impact of adoption of this standard on the Company's financial statements. In February 2018, the FASB issued ASU 2018-02, "Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income." This ASU was issued following the enactment of the Tax Cuts and Jobs Act (the "Tax Act") of 2017. This ASU allows an entity to elect a reclassification from accumulated other comprehensive income to retained earnings for stranded effects resulting from the Tax Act. ASU 2018-02 is effective for annual reporting periods, and interim periods therein, beginning after December 15, 2018. Early adoption is permitted and should be applied either in the period of adoption or retrospectively to each period in which the effect of the change in the U.S. federal corporate income tax rate in the Tax Act is recognized. The Company is currently in the process of evaluating the impact of the pronouncement and does not expect the adoption of this guidance to have a material impact on the consolidated financial statements. In June 2018, the FASB issued ASU 2018-07, "Compensation—Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting." The amendments in this Update expand the scope of Topic 718 to include share-based payment transactions for acquiring goods and services from nonemployees and make the accounting treatment for employee and nonemployee share-based transactions more consistent. ASU 2018-07 is effective for annual reporting periods, and interim periods therein, beginning after December 15, 2018. Early adoption is permitted, but no earlier than the entity's adoption date of Topic 606. The Company is currently in the process of evaluating the impact of the pronouncement and does not expect the adoption of this guidance to have a material impact on the consolidated financial statements. In August 2018, the FASB issued ASU 2018-14, "Compensation—Retirement Benefits—Defined Benefit Plans—General (Subtopic 715-20): Disclosure Framework—Changes to the Disclosure Requirements for Defined Benefit Plans." The new standard modifies the disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans. The provisions of this ASU are effective for years beginning after December 15, 2020, with early adoption permitted. The new standard requires the amendments to be applied on a retrospective basis for all periods presented. The Company is currently in the process of evaluating the impact of the pronouncement and does not expect the adoption of this guidance to have a material impact on the consolidated financial statements. In August 2018, the FASB issued ASU 2018-15, "Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract." The new standard provides updated guidance surrounding implementation costs associated with cloud computing arrangements that are service contracts. The provisions of this ASU are effective for years beginning after December 15, 2020, with early adoption permitted. The Company is currently in the process of evaluating the impact of the pronouncement on the consolidated financial statements.

Other Comprehensive Income (Tab

Other Comprehensive Income (Tables)	9 Months Ended
	Sep. 30, 2018
Equity [Abstract]
Components of Accumulated Other Comprehensive Income	Components of Accumulated other comprehensive loss, net of tax, were as follows ($ in millions): September 30, 2018 December 31, 2017 Accumulated pension and OPEB liability adjustments, net of income tax benefit of $12.9 million and $13.8 million at September 30, 2018 and December 31, 2017, respectively $ (22.6 ) $ (24.9 ) Accumulated unrealized (loss) gain on derivative instruments, net of income tax benefit of $1.5 million and $0.2 million at September 30, 2018 and December 31, 2017, respectively (1.3 ) 0.4 Accumulated unrealized foreign currency translation adjustments, net of income tax benefit of $2.7 million and $4.5 million at September 30, 2018 and December 31, 2017, respectively (90.3 ) (64.9 ) Accumulated other comprehensive loss $ (114.2 ) $ (89.4 )
Changes in Components of Other Comprehensive Income	Changes in the components of Accumulated other comprehensive loss were as follows ($ in millions): Three Months Ended September 30, 2018 September 30, 2017 Pre-tax Tax Net of Tax Pre-tax Tax Net of Tax Unrealized gain (loss) on pension and OPEB liability adjustments $ 1.0 $ (0.2 ) $ 0.8 $ 1.1 $ (1.2 ) $ (0.1 ) Unrealized (loss) gain on derivative instruments (0.4 ) — (0.4 ) (2.1 ) 0.2 (1.9 ) Unrealized (loss) gain on foreign currency translation (3.1 ) 0.1 (3.0 ) 11.4 — 11.4 Total $ (2.5 ) $ (0.1 ) $ (2.6 ) $ 10.4 $ (1.0 ) $ 9.4 Nine Months Ended September 30, 2018 September 30, 2017 Pre-tax Tax Net of Pre-tax Tax Net of Unrealized gain (loss) on pension and OPEB liability adjustments $ 3.2 $ (0.9 ) $ 2.3 $ 3.7 $ (1.6 ) $ 2.1 Unrealized (loss) gain on derivative instruments (3.0 ) 1.3 (1.7 ) (7.1 ) 2.2 (4.9 ) Unrealized (loss) gain on foreign currency translation (23.6 ) (1.8 ) (25.4 ) 37.1 — 37.1 Total $ (23.4 ) $ (1.4 ) $ (24.8 ) $ 33.7 $ 0.6 $ 34.3

Revenue Recognition (Tables)

Revenue Recognition (Tables)	9 Months Ended
	Sep. 30, 2018
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	Following is the Company’s net sales disaggregated by revenue source ($ in millions). Sales and usage-based taxes are excluded from net sales. Three Months Ended September 30, 2018 September 30, 2017 AMS EP Total AMS EP Total Product revenues $ 117.9 $ 124.2 $ 242.1 $ 112.4 $ 122.3 $ 234.7 Materials conversion revenues 1.9 13.9 15.8 3.2 17.9 21.1 Other revenues 1.0 1.4 2.4 0.6 1.4 2.0 Total revenues (1) $ 120.8 $ 139.5 $ 260.3 $ 116.2 $ 141.6 $ 257.8 (1) Revenues include net hedging gains and losses for the three months ended September 30, 2018 and 2017 . Nine Months Ended September 30, 2018 September 30, 2017 AMS EP Total AMS EP Total Product revenues $ 346.9 $ 378.6 $ 725.5 $ 318.4 $ 350.8 $ 669.2 Materials conversion revenues 10.3 50.1 60.4 14.0 57.9 71.9 Other revenues 2.9 3.8 6.7 1.6 3.7 5.3 Total revenues (1) $ 360.1 $ 432.5 $ 792.6 $ 334.0 $ 412.4 $ 746.4 (1) Revenues include net hedging gains and losses for the nine months ended September 30, 2018 and 2017 . Net sales are attributed to the following geographic locations based on the location of the Company’s direct customers ($ in millions): Three Months Ended September 30, 2018 September 30, 2017 AMS EP Total AMS EP Total United States $ 84.7 $ 47.0 $ 131.7 $ 80.6 $ 46.8 $ 127.4 Europe and the former Commonwealth of Independent States 10.0 51.0 61.0 13.5 52.8 66.3 Asia/Pacific (including China) 20.3 17.9 38.2 16.4 21.2 37.6 Latin America 2.1 11.0 13.1 2.4 11.0 13.4 Other foreign countries 3.7 12.6 16.3 3.3 9.8 13.1 Total revenues (1) $ 120.8 $ 139.5 $ 260.3 $ 116.2 $ 141.6 $ 257.8 (1) Revenues include net hedging gains and losses for the three months ended September 30, 2018 and 2017 . Nine Months Ended September 30, 2018 September 30, 2017 AMS EP Total AMS EP Total United States $ 247.6 $ 146.7 $ 394.3 $ 227.6 $ 140.2 $ 367.8 Europe and the former Commonwealth of Independent States 36.5 168.6 205.1 37.6 155.1 192.7 Asia/Pacific (including China) 56.9 57.1 114.0 50.8 59.7 110.5 Latin America 7.8 33.0 40.8 7.8 32.4 40.2 Other foreign countries 11.3 27.1 38.4 10.2 25.0 35.2 Total revenues (1) $ 360.1 $ 432.5 $ 792.6 $ 334.0 $ 412.4 $ 746.4 (1) Revenues include net hedging gains and losses for the nine months ended September 30, 2018 and 2017 .

Business Acquisitions (Tables)

Business Acquisitions (Tables) - Conwed Plastics LLC [Member]	9 Months Ended
	Sep. 30, 2018
Business Acquisition [Line Items]
Schedule of Recognized Identifiable Assets Acquired and Liabilities Assumed	The consideration paid for Conwed and the final fair values of the assets acquired and liabilities assumed as of the January 20, 2017 acquisition date were as follows ($ in millions): Fair Value as of January 20, 2017 Cash and cash equivalents $ 3.3 Accounts receivable 15.4 Inventory 20.6 Other current assets 1.1 Property, plant and equipment 31.7 Identifiable intangible assets 134.4 Total assets 206.5 Accounts payable and accrued expenses 8.2 Deferred tax liabilities 0.9 Net identifiable assets acquired 197.4 Goodwill 106.2 Fair value of consideration transferred $ 303.6
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination	The following table shows the fair values assigned to intangible assets ($ in millions): Fair Value as of January 20, 2017 Weighted-Average Amortization Period (Years) Amortizable intangible assets: Customer relationships $ 108.0 15.0 Developed technology 18.1 17.2 Non-competition agreements 1.2 7.2 Total amortizable intangible assets 127.3 Indefinite-lived intangible assets: Trade names 7.1 Indefinite Total $ 134.4
Actual and Pro Forma Net Sales and Income from Continuing Operations	The amounts of Net sales and Income from continuing operations of Conwed included in the Company's consolidated income statement from the acquisition date are as follows ($ in millions): Net Sales Income from Continuing Operations July 1, 2017 - September 30, 2017 $ 40.7 $ 4.7 January 20, 2017 - September 30, 2017 106.2 7.9 The amounts of the unaudited pro forma Net sales and Income from continuing operations of the combined entity had the acquisition date been January 1, 2017 are as follows ($ in millions): Net Sales Income from Continuing Operations 2017 Supplemental Pro Forma from January 1, 2017 - September 30, 2017 $ 754.1 $ 58.4

Discontinued Operations (Tables

Discontinued Operations (Tables)	9 Months Ended
	Sep. 30, 2018
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement	Summary financial results of discontinued operations were as follows ($ in millions): Three Months Ended Nine Months Ended September 30, 2018 September 30, 2017 September 30, 2018 September 30, 2017 Net sales $ — $ — $ — $ — Other income (expense) 0.1 0.1 (0.3 ) 0.1 Loss from discontinued operations before income taxes 0.1 0.1 (0.3 ) 0.1 Income tax (provision) benefit — — — — Loss from discontinued operations 0.1 0.1 (0.3 ) 0.1
Major Classes of Assets and Liabilities Associated with Discontinued Operations	Included in Other current assets, Other assets and Accrued expenses within the condensed consolidated balance sheet are the following major classes of assets and liabilities, respectively, associated with the discontinued operations ($ in millions): September 30, 2018 December 31, 2017 Assets of discontinued operations: Current assets $ 0.8 $ 1.0 Other assets 1.4 2.4 Liabilities of discontinued operations: Current liabilities 0.1 0.1

Net Income Per Share (Tables)

Net Income Per Share (Tables)	9 Months Ended
	Sep. 30, 2018
Earnings Per Share [Abstract]
Reconciliation of the Common and Potential Common Shares Outstanding Used in Earnings Per Share Calculation	A reconciliation of the average number of common and potential common shares outstanding used in the calculations of basic and diluted net income per share follows ($ in millions, shares in thousands): Three Months Ended Nine Months Ended September 30, September 30, September 30, September 30, Numerator (basic and diluted): Net income $ 41.0 $ 25.8 $ 87.3 $ 61.8 Less: Dividends paid to participating securities (0.1 ) (0.1 ) (0.2 ) (0.3 ) Less: Undistributed earnings available to participating securities (0.2 ) (0.1 ) (0.4 ) (0.2 ) Undistributed and distributed earnings available to common stockholders $ 40.7 $ 25.6 $ 86.7 $ 61.3 Denominator: Average number of common shares outstanding 30,569.6 30,422.8 30,541.6 30,400.4 Effect of dilutive stock-based compensation 153.2 146.7 141.5 134.3 Average number of common and potential common shares outstanding 30,722.8 30,569.5 30,683.1 30,534.7

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2018
Inventory Disclosure [Abstract]
Schedule of Inventories by Major Class	The following schedule details inventories by major class ($ in millions): September 30, December 31, Raw materials $ 49.0 $ 50.4 Work in process 25.1 21.3 Finished goods 67.4 74.2 Supplies and other 9.4 9.3 Total $ 150.9 $ 155.2

Goodwill (Tables)

Goodwill (Tables)	9 Months Ended
	Sep. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The changes in the carrying amount of goodwill by segment for the nine months ended September 30, 2018 were as follows ($ in millions): Advanced Materials & Structures Engineered Papers Total Goodwill as of December 31, 2017 $ 336.1 $ 5.2 $ 341.3 Foreign currency translation adjustments (2.4 ) (0.2 ) (2.6 ) Goodwill as of September 30, 2018 $ 333.7 $ 5.0 $ 338.7

Intangible Assets (Tables)

Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Unamortized Intangible Assets	The gross carrying amount and accumulated amortization for intangible assets consisted of the following ($ in millions): September 30, 2018 Gross Carrying Amount Accumulated Amortization Accumulated Impairments Accumulated Foreign Exchange Net Carrying Amount Amortized Intangible Assets Advanced Materials & Structures Customer relationships $ 276.3 $ 46.0 $ — $ (0.2 ) $ 230.5 Developed technology 34.0 8.0 — 0.1 25.9 Trade names 21.8 0.8 20.7 0.3 — Non-compete agreements 2.9 1.6 — — 1.3 Patents 1.5 0.3 — — 1.2 Total $ 336.5 $ 56.7 $ 20.7 $ 0.2 $ 258.9 Unamortized Intangible Assets (Advanced Materials & Structures) Trade names $ 20.0 $ — $ 0.1 $ (0.2 ) $ 20.1 December 31, 2017 Gross Carrying Amount Accumulated Amortization Accumulated Impairments Accumulated Foreign Exchange Net Carrying Amount Amortized Intangible Assets Advanced Materials & Structures Customer relationships $ 276.3 $ 32.9 $ — $ (2.3 ) $ 245.7 Developed technology 34.0 6.0 — (0.1 ) 28.1 Customer contracts 0.9 0.9 — — — Trade names 21.8 0.8 20.7 0.3 — Non-compete agreements 2.9 1.1 — — 1.8 Patents 1.5 0.3 — — 1.2 Total $ 337.4 $ 42.0 $ 20.7 $ (2.1 ) $ 276.8 Unamortized Intangible Assets (Advanced Materials & Structures) Trade names $ 20.0 $ — $ — $ (0.4 ) $ 20.4
Schedule of Amortized Intangible Assets	The gross carrying amount and accumulated amortization for intangible assets consisted of the following ($ in millions): September 30, 2018 Gross Carrying Amount Accumulated Amortization Accumulated Impairments Accumulated Foreign Exchange Net Carrying Amount Amortized Intangible Assets Advanced Materials & Structures Customer relationships $ 276.3 $ 46.0 $ — $ (0.2 ) $ 230.5 Developed technology 34.0 8.0 — 0.1 25.9 Trade names 21.8 0.8 20.7 0.3 — Non-compete agreements 2.9 1.6 — — 1.3 Patents 1.5 0.3 — — 1.2 Total $ 336.5 $ 56.7 $ 20.7 $ 0.2 $ 258.9 Unamortized Intangible Assets (Advanced Materials & Structures) Trade names $ 20.0 $ — $ 0.1 $ (0.2 ) $ 20.1 December 31, 2017 Gross Carrying Amount Accumulated Amortization Accumulated Impairments Accumulated Foreign Exchange Net Carrying Amount Amortized Intangible Assets Advanced Materials & Structures Customer relationships $ 276.3 $ 32.9 $ — $ (2.3 ) $ 245.7 Developed technology 34.0 6.0 — (0.1 ) 28.1 Customer contracts 0.9 0.9 — — — Trade names 21.8 0.8 20.7 0.3 — Non-compete agreements 2.9 1.1 — — 1.8 Patents 1.5 0.3 — — 1.2 Total $ 337.4 $ 42.0 $ 20.7 $ (2.1 ) $ 276.8 Unamortized Intangible Assets (Advanced Materials & Structures) Trade names $ 20.0 $ — $ — $ (0.4 ) $ 20.4

Restructuring and Impairment _2

Restructuring and Impairment Activities (Tables)	9 Months Ended
	Sep. 30, 2018
Restructuring and Related Activities [Abstract]
Changes in Restructuring Liabilities	Changes in the restructuring liabilities, substantially all of which are employee-related, during the periods ended September 30, 2018 and December 31, 2017 are summarized as follows ($ in millions): Nine Months Ended Year Ended September 30, December 31, Balance at beginning of year $ 1.7 $ 4.3 Accruals for announced programs 1.1 3.5 Cash payments (2.5 ) (6.4 ) Other 1.8 — Exchange rate impacts — 0.3 Balance at end of period $ 2.1 $ 1.7

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2018
Debt Disclosure [Abstract]
Schedule of Total Debt	The components of total debt are summarized in the following table ($ in millions): September 30, December 31, Revolving credit facility - U.S. dollar borrowings $ 91.0 $ 344.5 Revolving credit facility - Euro borrowings 3.5 26.4 Term loan facility 200.0 — Term loan A-1 — 60.0 Term loan A-2 — 244.4 6.875% senior unsecured notes due October 1, 2026, net of discount of $7.8 million 342.2 — French employee profit sharing 6.7 9.1 Long-term capital lease obligations 4.6 4.1 Other — 1.5 Debt issuance costs (7.2 ) (5.8 ) Total debt 640.8 684.2 Less: Current debt (3.2 ) (5.1 ) Long-term debt $ 637.6 $ 679.1
Schedule of Maturities of Long-term Debt	Following are the expected maturities for the Company's debt obligations as of September 30, 2018 ($ in millions): 2018 $ 0.5 2019 4.5 2020 3.2 2021 3.9 2022 3.7 Thereafter 640.0 Total $ 655.8

Derivatives (Tables)

Derivatives (Tables)	9 Months Ended
	Sep. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair Value of Asset and Liability Derivatives and the Respective Balance Sheet Locations	The following table presents the fair value of asset and liability derivatives and the respective balance sheet locations at September 30, 2018 ($ in millions): Asset Derivatives Liability Derivatives Balance Sheet Location Fair Value Balance Sheet Location Fair Value Derivatives designated as hedges: Foreign exchange contracts Accounts receivable, net $ 2.3 Accrued expenses $ 2.8 Foreign exchange contracts Other assets — Other liabilities 11.3 Interest rate contracts Other assets 2.6 Other liabilities — Total derivatives designated as hedges 4.9 14.1 Derivatives not designated as hedges: Foreign exchange contracts Accounts receivable, net — Accrued expenses 0.2 Total derivatives not designated as hedges — 0.2 Total derivatives $ 4.9 $ 14.3 The following table presents the fair value of asset and liability derivatives and the respective balance sheet locations at December 31, 2017 ($ in millions): Asset Derivatives Liability Derivatives Balance Sheet Location Fair Value Balance Sheet Location Fair Value Derivatives designated as hedges: Foreign exchange contracts Accounts receivable, net $ 4.7 Accrued expenses $ 0.2 Foreign exchange contracts Other assets — Other liabilities 14.2 Interest rate contracts Other assets 2.0 Other liabilities — Total derivatives designated as hedges 6.7 14.4 Derivatives not designated as hedges: Foreign exchange contracts Accounts receivable, net 0.1 Accounts payable — Total derivatives not designated as hedges 0.1 — Total derivatives $ 6.8 $ 14.4
Effect on Accumulated Other Comprehensive Income (Loss) and Results of Operations of Derivative Instruments in Cash Flow Hedging Relationships	The following table provides the gross effect that derivative instruments in cash flow hedging relationships had on accumulated other comprehensive income (loss), or AOCI, and results of operations ($ in millions): Derivatives Designated as Cash Flow Hedging Relationships Unrealized Gain (Loss) Recognized in AOCI on Derivatives, Net of Tax Location of Gain (Loss) Reclassified from AOCI Gain (Loss) Reclassified from AOCI Three Months Ended Nine Months Ended Three Months Ended Nine Months Ended September 30, September 30, September 30, September 30, 2018 2017 2018 2017 2018 2017 2018 2017 Foreign exchange contracts $ (0.4 ) $ 0.6 $ (3.1 ) $ 2.1 Net sales $ (0.1 ) $ 0.2 $ 0.6 $ 0.1 Foreign exchange contracts (0.4 ) (3.4 ) (0.4 ) (6.7 ) Other income, net 0.1 (0.8 ) 0.1 0.4 Interest rate contracts 1.2 — 4.2 (0.8 ) Interest expense 0.8 (0.3 ) 1.7 (1.0 ) Total $ 0.4 $ (2.8 ) $ 0.7 $ (5.4 ) $ 0.8 $ (0.9 ) $ 2.4 $ (0.5 )
Effect on Net Income of Derivative Instruments Non Designated as Hedging	The following table provides the effect that derivative instruments not designated as cash flow hedging instruments had on net income ($ in millions): Derivatives Not Designated as Cash Flow Hedging Instruments Location of Gain (Loss) Recognized in Income Amount of Gain (Loss) Recognized in Income Three Months Ended Nine Months Ended September 30, 2018 September 30, 2017 September 30, 2018 September 30, 2017 Foreign exchange contracts Other income, net $ — $ 4.6 $ (2.1 ) $ 3.2

Postretirement and Other Bene_2

Postretirement and Other Benefits (Tables)	9 Months Ended
	Sep. 30, 2018
Retirement Benefits [Abstract]
Net Pension Benefit Costs	The components of net pension and OPEB benefit costs for U.S. employees and net pension benefit costs for French employees during the three or nine months ended September 30, 2018 and 2017 were as follows ($ in millions): Three Months Ended September 30, U.S. Pension Benefits French Pension Benefits U.S. OPEB Benefits 2018 2017 2018 2017 2018 2017 Service cost $ — $ — $ 0.2 $ 0.3 $ — $ — Interest cost 1.0 1.2 0.1 0.1 — — Expected return on plan assets (1.5 ) (1.6 ) — — — — Amortizations and other 0.7 0.6 0.2 0.3 0.1 0.1 Net periodic benefit cost $ 0.2 $ 0.2 $ 0.5 $ 0.7 $ 0.1 $ 0.1 Nine Months Ended September 30, U.S. Pension Benefits French Pension Benefits U.S. OPEB Benefits 2018 2017 2018 2017 2018 2017 Service cost $ — $ — $ 0.8 $ 0.8 $ — $ — Interest cost 3.2 3.6 0.3 0.3 — — Expected return on plan assets (4.4 ) (4.8 ) (0.1 ) (0.1 ) — — Amortizations and other 2.4 2.4 0.6 0.9 0.2 0.2 Net periodic benefit cost $ 1.2 $ 1.2 $ 1.6 $ 1.9 $ 0.2 $ 0.2

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2018
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segments	($ in millions) Net Sales Three Months Ended Nine Months Ended September 30, 2018 September 30, 2017 September 30, 2018 September 30, 2017 Advanced Materials & Structures $ 120.8 46.4 % $ 116.2 45.1 % $ 360.1 45.4 % $ 334.0 44.7 % Engineered Papers 139.5 53.6 141.6 54.9 432.5 54.6 412.4 55.3 Total Consolidated $ 260.3 100.0 % $ 257.8 100.0 % $ 792.6 100.0 % $ 746.4 100.0 % ($ in millions) Operating Profit Three Months Ended Nine Months Ended September 30, 2018 September 30, 2017 September 30, 2018 September 30, 2017 Advanced Materials & Structures $ 11.9 38.3 % $ 15.4 39.2 % $ 39.5 36.5 % $ 40.9 38.2 % Engineered Papers 27.5 88.4 33.1 84.2 94.7 87.5 92.6 86.4 Unallocated (8.3 ) (26.7 ) (9.2 ) (23.4 ) (26.0 ) (24.0 ) (26.3 ) (24.6 ) Total Consolidated $ 31.1 100.0 % $ 39.3 100.0 % $ 108.2 100.0 % $ 107.2 100.0 % ($ in millions) Segment Assets September 30, December 31, Advanced Materials & Structures $ 808.6 $ 811.7 Engineered Papers 511.8 537.6 Unallocated 166.9 193.2 Total Consolidated $ 1,487.3 $ 1,542.5

General (Details)

General (Details) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2017USD ($)	Sep. 30, 2018USD ($)countryproduction_locationsegmentjoint_venture	Sep. 30, 2017USD ($)
Nature of Business [Line Items]
Number of operating segments | segment		2
Number of countries in which entity operates | country		90
Number Of Production Locations | production_location		23
Accounting Standards Update 2014-09 [Member]
Nature of Business [Line Items]
Cumulative effects of changes in accounting standards		$ 0.5
Accounting Standards Update 2016-16 [Member]
Nature of Business [Line Items]
Cumulative effects of changes in accounting standards		$ (2.2)
Accounting Standards Update 2017-07 [Member]
Nature of Business [Line Items]
Effect of change on operating results	$ 0.8		$ 2.6
China [Member]
Nature of Business [Line Items]
Equity method investment, ownership percentage		50.00%
Number of joint ventures | joint_venture		2

Other Comprehensive Income - Co

Other Comprehensive Income - Components of Accumulated Comprehensive Income (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Equity [Abstract]
Accumulated pension and OPEB liability adjustments, net of income tax benefit of $12.9 million and $13.8 million at September 30, 2018 and December 31, 2017, respectively	$ (22.6)	$ (24.9)
Accumulated unrealized (loss) gain on derivative instruments, net of income tax benefit of $1.5 million and $0.2 million at September 30, 2018 and December 31, 2017, respectively	(1.3)	0.4
Accumulated unrealized foreign currency translation adjustments, net of income tax benefit of $2.7 million and $4.5 million at September 30, 2018 and December 31, 2017, respectively	(90.3)	(64.9)
Accumulated other comprehensive loss	(114.2)	(89.4)
Accumulated pension and OPEB tax	12.9	13.8
Accumulated tax on gain (loss) on financial instruments	1.5	0.2
Accumulated tax on gain (loss) on unrealized translation adjustments	$ 2.7	$ 4.5

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Revenue from External Customer [Line Items]
Total revenues	$ 260.3	$ 257.8	$ 792.6	$ 746.4
Product Revenues [Member]
Revenue from External Customer [Line Items]
Total revenues	242.1	234.7	725.5	669.2
Material Conversion Revenues [Member]
Revenue from External Customer [Line Items]
Total revenues	15.8	21.1	60.4	71.9
Other Revenues [Member]
Revenue from External Customer [Line Items]
Total revenues	2.4	2	6.7	5.3
Advanced Materials & Structures Segment [Member]
Revenue from External Customer [Line Items]
Total revenues	120.8	116.2	360.1	334
Advanced Materials & Structures Segment [Member] | Product Revenues [Member]
Revenue from External Customer [Line Items]
Total revenues	117.9	112.4	346.9	318.4
Advanced Materials & Structures Segment [Member] | Material Conversion Revenues [Member]
Revenue from External Customer [Line Items]
Total revenues	1.9	3.2	10.3	14
Advanced Materials & Structures Segment [Member] | Other Revenues [Member]
Revenue from External Customer [Line Items]
Total revenues	1	0.6	2.9	1.6
Engineered Papers Segment [Member]
Revenue from External Customer [Line Items]
Total revenues	139.5	141.6	432.5	412.4
Engineered Papers Segment [Member] | Product Revenues [Member]
Revenue from External Customer [Line Items]
Total revenues	124.2	122.3	378.6	350.8
Engineered Papers Segment [Member] | Material Conversion Revenues [Member]
Revenue from External Customer [Line Items]
Total revenues	13.9	17.9	50.1	57.9
Engineered Papers Segment [Member] | Other Revenues [Member]
Revenue from External Customer [Line Items]
Total revenues	1.4	1.4	3.8	3.7
UNITED STATES
Revenue from External Customer [Line Items]
Total revenues	131.7	127.4	394.3	367.8
UNITED STATES | Advanced Materials & Structures Segment [Member]
Revenue from External Customer [Line Items]
Total revenues	84.7	80.6	247.6	227.6
UNITED STATES | Engineered Papers Segment [Member]
Revenue from External Customer [Line Items]
Total revenues	47	46.8	146.7	140.2
Europe and the former Commonwealth of Independent States [Member]
Revenue from External Customer [Line Items]
Total revenues	61	66.3	205.1	192.7
Europe and the former Commonwealth of Independent States [Member] | Advanced Materials & Structures Segment [Member]
Revenue from External Customer [Line Items]
Total revenues	10	13.5	36.5	37.6
Europe and the former Commonwealth of Independent States [Member] | Engineered Papers Segment [Member]
Revenue from External Customer [Line Items]
Total revenues	51	52.8	168.6	155.1
Asia Pacific [Member]
Revenue from External Customer [Line Items]
Total revenues	38.2	37.6	114	110.5
Asia Pacific [Member] | Advanced Materials & Structures Segment [Member]
Revenue from External Customer [Line Items]
Total revenues	20.3	16.4	56.9	50.8
Asia Pacific [Member] | Engineered Papers Segment [Member]
Revenue from External Customer [Line Items]
Total revenues	17.9	21.2	57.1	59.7
Latin America [Member]
Revenue from External Customer [Line Items]
Total revenues	13.1	13.4	40.8	40.2
Latin America [Member] | Advanced Materials & Structures Segment [Member]
Revenue from External Customer [Line Items]
Total revenues	2.1	2.4	7.8	7.8
Latin America [Member] | Engineered Papers Segment [Member]
Revenue from External Customer [Line Items]
Total revenues	11	11	33	32.4
Other Foreign Countries [Member]
Revenue from External Customer [Line Items]
Total revenues	16.3	13.1	38.4	35.2
Other Foreign Countries [Member] | Advanced Materials & Structures Segment [Member]
Revenue from External Customer [Line Items]
Total revenues	3.7	3.3	11.3	10.2
Other Foreign Countries [Member] | Engineered Papers Segment [Member]
Revenue from External Customer [Line Items]
Total revenues	$ 12.6	$ 9.8	$ 27.1	$ 25

Other Comprehensive Income - Ch

Other Comprehensive Income - Changes in Components of Other Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Equity [Abstract]
Pension and OPEB liability adjustments, Pre-tax	$ 1	$ 1.1	$ 3.2	$ 3.7
Unrealized (loss) gain on derivative instruments, Pre-tax	(0.4)	(2.1)	(3)	(7.1)
Unrealized foreign currency translation adjustments, Pre-tax	(3.1)	11.4	(23.6)	37.1
Total other comprehensive income (loss), Pre-tax	(2.5)	10.4	(23.4)	33.7
Pension and OPEB liability adjustments, Tax	(0.2)	(1.2)	(0.9)	(1.6)
Unrealized (loss) gain on derivative instruments, Tax	0	0.2	1.3	2.2
Unrealized foreign currency translation adjustments, Tax	0.1	0	(1.8)	0
Total other comprehensive income (loss), Tax	(0.1)	(1)	(1.4)	0.6
Pension and OPEB liability adjustments, Net of Tax	0.8	(0.1)	2.3	2.1
Unrealized gain (loss) on financial instruments, net of realized gain (loss), Net of Tax	(0.4)	(1.9)	(1.7)	(4.9)
Unrealized foreign currency translation adjustments, Net of Tax	(3)	11.4	(25.4)	37.1
Other comprehensive (loss) income	$ (2.6)	$ 9.4	$ (24.8)	$ 34.3

Business Acquisitions - Additio

Business Acquisitions - Additional Information (Details) - USD ($) $ in Millions	Jan. 20, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Business Acquisition [Line Items]
Change in fair value of contingent consideration		$ (10.2)	$ 0
Conwed Plastics LLC [Member]
Business Acquisition [Line Items]
Consideration, cash	$ 295
Potential earn-out payments	40	10.2
Consideration, acquisition-date fair value of earn-out payments	8.6
Consideration, total	303.6
Fair value of contingent liability		0		$ 9.5
Change in fair value of contingent consideration		0.7
Gain recognized in Other income, net		10.2
Accounts receivable, fair value	15.4
Accounts receivable, gross contractual amount	15.8
Inventory acquired	20.6
Financing costs			0.6
Conwed Plastics LLC [Member] | Inventory step-up in basis [Member]
Business Acquisition [Line Items]
Inventory acquired	$ 2.9
Conwed Plastics LLC [Member] | Acquisition-related Costs [Member]
Business Acquisition [Line Items]
Acquisition-related costs		$ 0	$ 0.1

Business Acquisitions - Schedul

Business Acquisitions - Schedule of Recognized Identifiable Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017	Jan. 20, 2017
Business Acquisition [Line Items]
Goodwill	$ 338.7	$ 341.3
Conwed Plastics LLC [Member]
Business Acquisition [Line Items]
Cash and cash equivalents			$ 3.3
Accounts receivable			15.4
Inventory			20.6
Other current assets			1.1
Property, plant and equipment			31.7
Identifiable intangible assets			134.4
Total assets			206.5
Accounts payable and accrued expenses			8.2
Deferred tax liabilities			0.9
Net identifiable assets acquired			197.4
Goodwill			106.2
Fair value of consideration transferred			$ 303.6

Business Acquisitions - Finite-

Business Acquisitions - Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination (Details) - Conwed Plastics LLC [Member] $ in Millions	Jan. 20, 2017USD ($)
Business Acquisition [Line Items]
Preliminary Fair Value	$ 134.4
Trade names [Member]
Business Acquisition [Line Items]
Preliminary Fair Value	7.1
Finite-Lived Intangible Assets [Member]
Business Acquisition [Line Items]
Preliminary Fair Value	127.3
Customer relationships [Member]
Business Acquisition [Line Items]
Preliminary Fair Value	$ 108
Weighted-Average Amortization Period (Years)	15 years
Developed technology [Member]
Business Acquisition [Line Items]
Preliminary Fair Value	$ 18.1
Weighted-Average Amortization Period (Years)	17 years 2 months 12 days
Non-compete agreements [Member]
Business Acquisition [Line Items]
Preliminary Fair Value	$ 1.2
Weighted-Average Amortization Period (Years)	7 years 2 months 12 days

Business Acquisitions - Actual

Business Acquisitions - Actual and Pro Forma Net Sales and Income from Continuing Operations (Details) - Conwed Plastics LLC [Member] - USD ($) $ in Millions	3 Months Ended	8 Months Ended	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2017	Sep. 30, 2017
Business Acquisition [Line Items]
Actual Net Sales	$ 40.7	$ 106.2
Actual Income from Continuing Operations	$ 4.7	$ 7.9
Pro Forma Net Sales			$ 754.1
Pro Forma Income from Continuing Operations			$ 58.4

Discontinued Operations (Detail

Discontinued Operations (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net sales	$ 0	$ 0	$ 0	$ 0
Other income	0.1	0.1		0.1
Other expense			(0.3)
Loss from discontinued operations before income taxes	0.1	0.1	(0.3)	0.1
Income tax (provision) benefit	0	0	0	0
Loss from discontinued operations	0.1	$ 0.1	(0.3)	$ 0.1
Discontinued Operations, Disposed of by Sale [Member]
Assets of discontinued operations:
Current assets	0.8		0.8		$ 1
Other assets	1.4		1.4		2.4
Liabilities of discontinued operations:
Current liabilities	$ 0.1		$ 0.1		$ 0.1

Net Income Per Share (Details)

Net Income Per Share (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Numerator (basic and diluted):
Net income	$ 41	$ 25.8	$ 87.3	$ 61.8
Less: Dividends paid to participating securities	(0.1)	(0.1)	(0.2)	(0.3)
Less: Undistributed earnings available to participating securities	(0.2)	(0.1)	(0.4)	(0.2)
Undistributed and distributed earnings available to common stockholders	$ 40.7	$ 25.6	$ 86.7	$ 61.3
Denominator:
Average number of common shares outstanding (in shares)	30,569,600	30,422,800	30,541,600	30,400,400
Effect of dilutive stock-based compensation (in shares)	153,200	146,700	141,500	134,300
Average number of common and potential common shares outstanding (in shares)	30,722,800	30,569,500	30,683,100	30,534,700

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Inventory Disclosure [Abstract]
Raw materials	$ 49	$ 50.4
Work in process	25.1	21.3
Finished goods	67.4	74.2
Supplies and other	9.4	9.3
Total	$ 150.9	$ 155.2

Goodwill (Details)

Goodwill (Details) $ in Millions	9 Months Ended
	Sep. 30, 2018USD ($)
Goodwill [Roll Forward]
Goodwill, beginning of period	$ 341.3
Foreign currency translation adjustments	(2.6)
Goodwill, end of period	338.7
Engineered Papers [Member]
Goodwill [Roll Forward]
Goodwill, beginning of period	5.2
Foreign currency translation adjustments	(0.2)
Goodwill, end of period	5
Advanced Materials & Structures Segment [Member]
Goodwill [Roll Forward]
Goodwill, beginning of period	336.1
Foreign currency translation adjustments	(2.4)
Goodwill, end of period	$ 333.7

Intangible Assets (Details)

Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Unamortized Intangible Assets (Advanced Materials & Structures)
Amortization expense of intangible assets	$ 5.2	$ 5.2	$ 15.6	$ 15.7
Estimated average amortization expense in each of next five years	20.3		20.3
Advanced Materials & Structures Segment [Member]
Amortized Intangible Assets
Gross Carrying Amount	336.5		336.5		$ 337.4
Accumulated Amortization	56.7		56.7		42
Accumulated Impairments	20.7		20.7		20.7
Accumulated Foreign Exchange	0.2		0.2		(2.1)
Net Carrying Amount	258.9		258.9		276.8
Advanced Materials & Structures Segment [Member] | Trade names [Member]
Amortized Intangible Assets
Accumulated Impairments	0.1		0.1		0
Accumulated Foreign Exchange	(0.2)		(0.2)		(0.4)
Unamortized Intangible Assets (Advanced Materials & Structures)
Gross Carrying Amount	20		20		20
Net Carrying Amount	20.1		20.1		20.4
Advanced Materials & Structures Segment [Member] | Customer relationships [Member]
Amortized Intangible Assets
Gross Carrying Amount	276.3		276.3		276.3
Accumulated Amortization	46		46		32.9
Accumulated Impairments	0		0		0
Accumulated Foreign Exchange	(0.2)		(0.2)		(2.3)
Net Carrying Amount	230.5		230.5		245.7
Advanced Materials & Structures Segment [Member] | Developed technology [Member]
Amortized Intangible Assets
Gross Carrying Amount	34		34		34
Accumulated Amortization	8		8		6
Accumulated Impairments	0		0		0
Accumulated Foreign Exchange	0.1		0.1		(0.1)
Net Carrying Amount	25.9		25.9		28.1
Advanced Materials & Structures Segment [Member] | Customer contracts [Member]
Amortized Intangible Assets
Gross Carrying Amount					0.9
Accumulated Amortization					0.9
Accumulated Impairments					0
Accumulated Foreign Exchange					0
Net Carrying Amount					0
Advanced Materials & Structures Segment [Member] | Trade names [Member]
Amortized Intangible Assets
Gross Carrying Amount	21.8		21.8		21.8
Accumulated Amortization	0.8		0.8		0.8
Accumulated Impairments	20.7		20.7		20.7
Accumulated Foreign Exchange	0.3		0.3		0.3
Net Carrying Amount	0		0		0
Advanced Materials & Structures Segment [Member] | Non-compete agreements [Member]
Amortized Intangible Assets
Gross Carrying Amount	2.9		2.9		2.9
Accumulated Amortization	1.6		1.6		1.1
Accumulated Impairments	0		0		0
Accumulated Foreign Exchange	0		0		0
Net Carrying Amount	1.3		1.3		1.8
Advanced Materials & Structures Segment [Member] | Patents [Member]
Amortized Intangible Assets
Gross Carrying Amount	1.5		1.5		1.5
Accumulated Amortization	0.3		0.3		0.3
Accumulated Impairments	0		0		0
Accumulated Foreign Exchange	0		0		0
Net Carrying Amount	$ 1.2		$ 1.2		$ 1.2

Restructuring and Impairment _3

Restructuring and Impairment Activities (Details) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Restructuring Cost and Reserve [Line Items]
Restructuring and impairment expense	$ 400,000	$ 1,500,000	$ 1,400,000	$ 4,200,000
Restructuring Reserve [Roll Forward]
Balance at beginning of year			1,700,000	4,300,000	$ 4,300,000
Accruals for announced programs			1,100,000		3,500,000
Cash payments			(2,500,000)		(6,400,000)
Other			1,800,000		0
Exchange rate impacts			0		300,000
Balance at end of period	2,100,000		2,100,000		$ 1,700,000
Corporate, Non-Segment [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and impairment expense	0	(100,000)	0	100,000
Engineered Papers [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and impairment expense	0	400,000	200,000	1,700,000
Engineered Papers [Member] | France [Member] | Employee severance [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and impairment expense			200,000
Engineered Papers [Member] | France, Brazil, And United States [Member] | Employee severance [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and impairment expense				900,000
Engineered Papers [Member] | Philippines [Member] | Asset Impairment Charge [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and impairment expense			0	800,000
Advanced Materials & Structures Segment [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and impairment expense	$ 400,000	$ 1,200,000	1,200,000	$ 2,400,000
Advanced Materials & Structures Segment [Member] | UNITED STATES | Employee severance [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and impairment expense			900,000
Advanced Materials & Structures Segment [Member] | UNITED STATES | Asset Impairment Charge [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and impairment expense			$ 300,000

Debt - Schedule of Debt Summari

Debt - Schedule of Debt Summarized (Details) - USD ($) $ in Millions	Sep. 30, 2018	Sep. 25, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Total debt	$ 640.8		$ 684.2
Other	0		1.5
Debt issuance costs	(7.2)		(5.8)
Less: Current debt	(3.2)		(5.1)
Long-term debt	637.6		679.1
Corporate Bond Securities [Member]
Debt Instrument [Line Items]
Discount	7.8
Deferred Profit Sharing [Member]
Debt Instrument [Line Items]
Total debt	6.7		9.1
Capital Lease Obligations [Member]
Debt Instrument [Line Items]
Total debt	4.6		4.1
Revolving Credit Agreement - U.S. dollar borrowings [Member] | Revolving Credit Agreement [Member]
Debt Instrument [Line Items]
Total debt	91	$ 96	344.5
Euro Revolver [Member] | Revolving Credit Agreement [Member]
Debt Instrument [Line Items]
Total debt	3.5		26.4
Term Loan Facility [Member] | Term Loan [Member]
Debt Instrument [Line Items]
Total debt	200		0
Term Loan A-1 [Member] | Term Loan [Member]
Debt Instrument [Line Items]
Total debt	0		60
Term Loan A-2 [Member] | Term Loan [Member]
Debt Instrument [Line Items]
Total debt	0		244.4
6.875% Senior Unsecured Notes Due 2026 [Member] | Corporate Bond Securities [Member]
Debt Instrument [Line Items]
Total debt	$ 342.2		$ 0
Interest rate		6.875%

Debt - Additional Information (

Debt - Additional Information (Details)	Sep. 25, 2018USD ($)	Jan. 20, 2017USD ($)	Dec. 31, 2015USD ($)	Sep. 30, 2018USD ($)	Sep. 30, 2017USD ($)	Jan. 01, 2019	Jul. 01, 2018	Apr. 01, 2018	Jan. 01, 2018	Dec. 31, 2017USD ($)	Oct. 28, 2015USD ($)
Debt Instrument [Line Items]
Amount borrowed				$ 640,800,000						$ 684,200,000
Write off of deferred debt issuance costs	$ 500,000
Deferred debt issuance costs				7,200,000						5,800,000
Long-term Debt, Fiscal Year Maturity [Abstract]
2,018				500,000
2,019				4,500,000
2,020				3,200,000
2,021				3,900,000
2,022				3,700,000
Thereafter				640,000,000
Total				655,800,000
Interest Expense [Member]
Debt Instrument [Line Items]
Amortization of debt issuance costs				1,400,000	$ 1,400,000
Corporate Bond Securities [Member]
Long-term Debt, Fiscal Year Maturity [Abstract]
Fair market value				$ 359,600,000
New Credit Facility [Member]
Debt Instrument [Line Items]
Maximum borrowings under credit facility	$ 700,000,000
EBITDA ratio	4.50
Interest coverage ratio	3
Effective interest rate on debt facilities				4.01%	3.12%
6.875% Senior Unsecured Notes Due 2026 [Member] | Corporate Bond Securities [Member]
Debt Instrument [Line Items]
Debt instrument, face amount	$ 350,000,000
Amount borrowed				$ 342,200,000						0
Interest rate	6.875%
Effective rate				7.245%
Redemption price, percentage	100.00%
Amount to be redeemed, percentage	35.00%
Redemption price for equity offerings, percentage	106.875%
New Credit Facility and Bond Indenture [Member]
Debt Instrument [Line Items]
Deferred debt issuance costs	$ 3,400,000
Revolving Credit Agreement - U.S. dollar borrowings [Member] | Line of Credit [Member]
Debt Instrument [Line Items]
Amount borrowed	$ 96,000,000			$ 91,000,000						344,500,000
Euro Revolver [Member] | Line of Credit [Member]
Debt Instrument [Line Items]
Amount borrowed				3,500,000						26,400,000
Term Loan Facility [Member] | Term Loan [Member]
Debt Instrument [Line Items]
Debt instrument term	7 years
Debt instrument, face amount	$ 200,000,000
Amortization rate											1.00%
Amount borrowed				$ 200,000,000						0
Average interest rate on outstanding borrowings				4.25%
Second Amended and Restated Credit Agreement [Member]
Debt Instrument [Line Items]
Maximum borrowings under credit facility											$ 1,000,000,000
EBITDA ratio		4.25					3.50	3.75	4
Term Loan A-1 [Member] | Term Loan [Member]
Debt Instrument [Line Items]
Debt instrument, face amount											$ 100,000,000
Amount borrowed				$ 0						60,000,000
Long-term Debt, Fiscal Year Maturity [Abstract]
Amortization rate - A-1 - first 2 years											5.00%
Amortization rate - A-1 - final 3 years											10.00%
Prepayment of amortization for term loan			$ 40,000,000
Term Loan A-2 [Member] | Term Loan [Member]
Debt Instrument [Line Items]
Debt instrument, face amount											$ 250,000,000
Amount borrowed				$ 0						$ 244,400,000
Long-term Debt, Fiscal Year Maturity [Abstract]
Amortization rate - A-2											1.00%
First Amendment to Second Amended and Restated Credit Agreement [Member]
Debt Instrument [Line Items]
Deferred debt issuance costs		$ 600,000
Revolving Credit Facility [Member] | New Credit Facility and Bond Indenture [Member]
Debt Instrument [Line Items]
Maximum borrowings under credit facility	$ 400,000,000
Debt instrument term	5 years
Revolving line of credit	$ 500,000,000
Revolving Credit Facility [Member] | Revolving Credit Agreement - U.S. dollar borrowings [Member]
Debt Instrument [Line Items]
Average interest rate on outstanding borrowings				4.00%
Revolving Credit Facility [Member] | Euro Revolver [Member]
Debt Instrument [Line Items]
Average interest rate on outstanding borrowings				1.75%
Revolving Credit Facility [Member] | Second Amended and Restated Credit Agreement [Member]
Debt Instrument [Line Items]
Maximum borrowings under credit facility											$ 650,000,000
London Interbank Offered Rate (LIBOR) [Member] | Term Loan A-1 [Member] | Term Loan [Member] | Minimum [Member]
Debt Instrument [Line Items]
Basis spread on variable interest rate				1.25%
London Interbank Offered Rate (LIBOR) [Member] | Term Loan A-1 [Member] | Term Loan [Member] | Maximum [Member]
Debt Instrument [Line Items]
Basis spread on variable interest rate				2.50%
London Interbank Offered Rate (LIBOR) [Member] | Term Loan A-2 [Member] | Term Loan [Member] | Minimum [Member]
Debt Instrument [Line Items]
Basis spread on variable interest rate				1.50%
London Interbank Offered Rate (LIBOR) [Member] | Term Loan A-2 [Member] | Term Loan [Member] | Maximum [Member]
Debt Instrument [Line Items]
Basis spread on variable interest rate				2.75%
London Interbank Offered Rate (LIBOR) [Member] | Revolving Credit Facility [Member] | New Credit Facility and Bond Indenture [Member]
Debt Instrument [Line Items]
Basis spread on variable interest rate				1.75%
London Interbank Offered Rate (LIBOR) [Member] | Revolving Credit Facility [Member] | Second Amended and Restated Credit Agreement [Member] | Minimum [Member]
Debt Instrument [Line Items]
Basis spread on variable interest rate				1.25%
London Interbank Offered Rate (LIBOR) [Member] | Revolving Credit Facility [Member] | Second Amended and Restated Credit Agreement [Member] | Maximum [Member]
Debt Instrument [Line Items]
Basis spread on variable interest rate				2.50%
London Interbank Offered Rate (LIBOR) [Member] | Term Loan Facility [Member] | New Credit Facility and Bond Indenture [Member]
Debt Instrument [Line Items]
Basis spread on variable interest rate				2.00%
Base Rate [Member] | Term Loan A-1 [Member] | Term Loan [Member] | Minimum [Member]
Debt Instrument [Line Items]
Basis spread on variable interest rate				0.25%
Base Rate [Member] | Term Loan A-1 [Member] | Term Loan [Member] | Maximum [Member]
Debt Instrument [Line Items]
Basis spread on variable interest rate				1.50%
Base Rate [Member] | Term Loan A-2 [Member] | Term Loan [Member] | Minimum [Member]
Debt Instrument [Line Items]
Basis spread on variable interest rate				0.50%
Base Rate [Member] | Term Loan A-2 [Member] | Term Loan [Member] | Maximum [Member]
Debt Instrument [Line Items]
Basis spread on variable interest rate				1.75%
Base Rate [Member] | Revolving Credit Facility [Member] | New Credit Facility and Bond Indenture [Member]
Debt Instrument [Line Items]
Basis spread on variable interest rate				0.75%
Base Rate [Member] | Revolving Credit Facility [Member] | Second Amended and Restated Credit Agreement [Member] | Minimum [Member]
Debt Instrument [Line Items]
Basis spread on variable interest rate				0.25%
Base Rate [Member] | Revolving Credit Facility [Member] | Second Amended and Restated Credit Agreement [Member] | Maximum [Member]
Debt Instrument [Line Items]
Basis spread on variable interest rate				1.50%
Base Rate [Member] | Term Loan Facility [Member] | New Credit Facility and Bond Indenture [Member]
Debt Instrument [Line Items]
Basis spread on variable interest rate				1.00%
Forecast [Member] | Second Amended and Restated Credit Agreement [Member]
Debt Instrument [Line Items]
EBITDA ratio						3

Derivatives - Additional Inform

Derivatives - Additional Information (Details) € in Millions, $ in Millions	Sep. 25, 2018USD ($)	Jan. 20, 2017USD ($)	Jan. 31, 2018	Sep. 30, 2018USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2018USD ($)	Sep. 30, 2017USD ($)	Jan. 20, 2017EUR (€)
Cash Flow Hedging [Member]
Derivative [Line Items]
Loss, net of taxes, recognized in other comprehensive income on cross currency swap derivative				$ 0.4	$ (2.8)	$ 0.7	$ (5.4)
Interest Rate Swap [Member]
Derivative [Line Items]
Derivative, term of contract		3 years
Derivative, notional amount		$ 315
Derivative, fixed rate		1.65%						1.65%
Cross Currency Interest Rate Contract [Member]
Derivative [Line Items]
Derivative, term of contract		3 years
Derivative, notional amount		$ 100						€ 93.7
Cross Currency Interest Rate Contract [Member] | Long [Member]
Derivative [Line Items]
Derivative, fixed rate		1.65%						1.65%
Cross Currency Interest Rate Contract [Member] | Short [Member]
Derivative [Line Items]
Derivative, fixed rate		0.18%						0.18%
Cross Currency Interest Rate Contract [Member] | Net Investment Hedging [Member]
Derivative [Line Items]
Derivative, term of contract			25 months
Cross Currency Interest Rate Contract [Member] | Net Investment Hedging [Member] | Accounting Standards Update 2017-12 [Member]
Derivative [Line Items]
Loss, net of taxes, recognized in other comprehensive income on cross currency swap derivative						7
Amount reclassified from accumulated other comprehensive income into income as interest expense				$ 0.2		$ 0.6
Derivative amounts excluded from effectiveness testing as interest expense					$ 0.5		$ 1.4
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Cash Flow Hedging [Member]
Derivative [Line Items]
Derivative, notional amount	$ 130
Gain on settlement date	$ 1.8

Derivatives - Derivatives by Ba

Derivatives - Derivatives by Balance Sheet Location (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Derivatives, Fair Value [Line Items]
Asset Derivatives	$ 4.9	$ 6.8
Liability Derivatives	14.3	14.4
Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Asset Derivatives	4.9	6.7
Liability Derivatives	14.1	14.4
Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Asset Derivatives	0	0.1
Liability Derivatives	0.2	0
Foreign exchange contracts [Member] | Designated as Hedging Instrument [Member] | Accounts receivable, net [Member]
Derivatives, Fair Value [Line Items]
Asset Derivatives	2.3	4.7
Foreign exchange contracts [Member] | Designated as Hedging Instrument [Member] | Other assets [Member]
Derivatives, Fair Value [Line Items]
Asset Derivatives	0	0
Foreign exchange contracts [Member] | Designated as Hedging Instrument [Member] | Accrued expenses [Member]
Derivatives, Fair Value [Line Items]
Liability Derivatives	2.8	0.2
Foreign exchange contracts [Member] | Designated as Hedging Instrument [Member] | Other liabilities [Member]
Derivatives, Fair Value [Line Items]
Liability Derivatives	11.3	14.2
Foreign exchange contracts [Member] | Not Designated as Hedging Instrument [Member] | Accounts receivable, net [Member]
Derivatives, Fair Value [Line Items]
Asset Derivatives	0	0.1
Foreign exchange contracts [Member] | Not Designated as Hedging Instrument [Member] | Accounts Payable [Member]
Derivatives, Fair Value [Line Items]
Liability Derivatives	0.2	0
Interest rate contracts [Member] | Designated as Hedging Instrument [Member] | Other assets [Member]
Derivatives, Fair Value [Line Items]
Asset Derivatives	2.6	2
Interest rate contracts [Member] | Designated as Hedging Instrument [Member] | Other liabilities [Member]
Derivatives, Fair Value [Line Items]
Liability Derivatives	$ 0	$ 0

Derivatives - Derivative Instru

Derivatives - Derivative Instruments Effect on AOCI and Results of Operations (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Cash Flow Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized Gain (Loss) Recognized in AOCI on Derivatives, Net of Tax	$ 0.4	$ (2.8)	$ 0.7	$ (5.4)
Gain (Loss) Reclassified from AOCI	0.8	(0.9)	2.4	(0.5)
Cash Flow Hedging [Member] | Interest rate contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized Gain (Loss) Recognized in AOCI on Derivatives, Net of Tax	1.2	0	4.2	(0.8)
Sales [Member] | Cash Flow Hedging [Member] | Foreign Exchange Contract [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized Gain (Loss) Recognized in AOCI on Derivatives, Net of Tax	(0.4)	0.6	(3.1)	2.1
Gain (Loss) Reclassified from AOCI	(0.1)	0.2	0.6	0.1
Other Income Expense [Member] | Foreign Exchange Contract [Member] | Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Income	0	4.6	(2.1)	3.2
Other Income Expense [Member] | Cash Flow Hedging [Member] | Foreign Exchange Contract [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized Gain (Loss) Recognized in AOCI on Derivatives, Net of Tax	(0.4)	(3.4)	(0.4)	(6.7)
Gain (Loss) Reclassified from AOCI	0.1	(0.8)	0.1	0.4
Interest Expense [Member] | Cash Flow Hedging [Member] | Interest rate contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Reclassified from AOCI	$ 0.8	$ (0.3)	$ 1.7	$ (1)

Commitments and Contingencies (

Commitments and Contingencies (Details) - Unfavorable Regulatory Action [Member] € in Millions	Sep. 30, 2018USD ($)Employees	Sep. 30, 2018EUR (€)Employees	Dec. 31, 2000assessment
Raw Materials Assessment [Member]
Loss Contingencies [Line Items]
Number of assessments from the tax authorities regarding ICMS taxes | assessment			2
Electricity Assessment [Member]
Loss Contingencies [Line Items]
Number of assessments from the tax authorities regarding ICMS taxes | assessment			4
Raw Materials Assessment And Remaining Electricity Assessments [Member]
Loss Contingencies [Line Items]
Liability recorded	$ 0
Malaucene Co-Employment [Member]
Loss Contingencies [Line Items]
Liability recorded	0
Maximum [Member] | Raw Materials Assessment 2 [Member] [Member]
Loss Contingencies [Line Items]
Loss contingency, range of possible loss	10,700,000
Maximum [Member] | Electricity Assessment One [Member]
Loss Contingencies [Line Items]
Loss contingency, range of possible loss	5,000,000
Maximum [Member] | Second Electricity Assessment [Member]
Loss Contingencies [Line Items]
Loss contingency, range of possible loss	7,500,000
Maximum [Member] | Electricity Assessment Three [Member]
Loss Contingencies [Line Items]
Loss contingency, range of possible loss	500,000
Maximum [Member] | Electricity Assessment Four [Member]
Loss Contingencies [Line Items]
Loss contingency, range of possible loss	$ 8,200,000
Maximum [Member] | Malaucene Co-Employment [Member]
Loss Contingencies [Line Items]
Loss contingency, range of possible loss | €		€ 1.3
Number of pending claims | Employees	18	18

Postretirement and Other Bene_3

Postretirement and Other Benefits (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Domestic Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Amortization of accumulated other comprehensive loss related to benefit plans	$ 3.4		$ 3.4
Domestic Plan | Pension Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	0	$ 0	0	$ 0
Interest cost	1	1.2	3.2	3.6
Expected return on plan assets	(1.5)	(1.6)	(4.4)	(4.8)
Amortizations and other	0.7	0.6	2.4	2.4
Net periodic benefit cost	0.2	0.2	1.2	1.2
Domestic Plan | Other Postretirement Benefits Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	0	0	0	0
Interest cost	0	0	0	0
Expected return on plan assets	0	0	0	0
Amortizations and other	0.1	0.1	0.2	0.2
Net periodic benefit cost	0.1	0.1	0.2	0.2
FRANCE
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Amortization of accumulated other comprehensive loss related to benefit plans	0.8		0.8
FRANCE | Pension Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	0.2	0.3	0.8	0.8
Interest cost	0.1	0.1	0.3	0.3
Expected return on plan assets	0	0	(0.1)	(0.1)
Amortizations and other	0.2	0.3	0.6	0.9
Net periodic benefit cost	$ 0.5	$ 0.7	$ 1.6	$ 1.9

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Income Tax Disclosure [Abstract]
Update to provisional estimate for transition tax liability			$ 13
Repatriation foreign earnings			$ 24.5
Effective income tax rate from continuing operations	(16.00%)	27.00%	10.60%	30.20%

Segment Information (Details)

Segment Information (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2018USD ($)segment	Sep. 30, 2017USD ($)	Dec. 31, 2017USD ($)
Segment Reporting Information [Line Items]
Number of operating segments | segment			2
Number of reportable segments | segment			2
Net Sales [Abstract]
Percentage of Net Sales (in hundredths)	100.00%	100.00%	100.00%	100.00%
Net Sales	$ 260.3	$ 257.8	$ 792.6	$ 746.4
Operating Profit [Abstract]
Operating Profit	$ 31.1	$ 39.3	$ 108.2	$ 107.2
Operating Profit (in hundredths)	100.00%	100.00%	100.00%	100.00%
Assets	$ 1,487.3		$ 1,487.3		$ 1,542.5
Operating Segments [Member] | Engineered Papers [Member]
Net Sales [Abstract]
Percentage of Net Sales (in hundredths)	53.60%	54.90%	54.60%	55.30%
Net Sales	$ 139.5	$ 141.6	$ 432.5	$ 412.4
Operating Profit [Abstract]
Operating Profit	$ 27.5	$ 33.1	$ 94.7	$ 92.6
Operating Profit (in hundredths)	88.40%	84.20%	87.50%	86.40%
Assets	$ 808.6		$ 808.6		811.7
Operating Segments [Member] | Advanced Materials & Structures Segment [Member]
Net Sales [Abstract]
Percentage of Net Sales (in hundredths)	46.40%	45.10%	45.40%	44.70%
Net Sales	$ 120.8	$ 116.2	$ 360.1	$ 334
Operating Profit [Abstract]
Operating Profit	$ 11.9	$ 15.4	$ 39.5	$ 40.9
Operating Profit (in hundredths)	38.30%	39.20%	36.50%	38.20%
Assets	$ 511.8		$ 511.8		537.6
Unallocated [Member]
Operating Profit [Abstract]
Operating Profit	$ (8.3)	$ (9.2)	$ (26)	$ (26.3)
Operating Profit (in hundredths)	(26.70%)	(23.40%)	(24.00%)	(24.60%)
Assets	$ 166.9		$ 166.9		$ 193.2
Accounting Standards Update 2017-07 [Member]
Segment Reporting Information [Line Items]
Effect of change on operating results		$ 0.8		$ 2.6

Subsequent Event (Details)

Subsequent Event (Details) - Cross Currency Interest Rate Contract [Member] € in Millions, $ in Millions	Oct. 22, 2018USD ($)	Jan. 20, 2017USD ($)	Oct. 22, 2018EUR (€)	Jan. 20, 2017EUR (€)
Subsequent Event [Line Items]
Derivative, term of contract		3 years
Derivative, notional amount		$ 100		€ 93.7
Long [Member]
Subsequent Event [Line Items]
Derivative, fixed rate		1.65%		1.65%
Short [Member]
Subsequent Event [Line Items]
Derivative, fixed rate		0.18%		0.18%
Subsequent Event [Member]
Subsequent Event [Line Items]
Derivative, term of contract	3 years
Derivative, notional amount	$ 75		€ 65.4
Subsequent Event [Member] | Long [Member]
Subsequent Event [Line Items]
Derivative, fixed rate	6.875%		6.875%
Subsequent Event [Member] | Short [Member]
Subsequent Event [Line Items]
Derivative, fixed rate	3.6725%		3.6725%