Xerium (XRM) 10-Q 4 May 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2016	May. 01, 2016
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Trading Symbol	XRM
Entity Registrant Name	XERIUM TECHNOLOGIES INC
Entity Central Index Key	1,287,151
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		15,994,057

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 15,450	$ 9,839
Accounts receivable, net	72,174	68,562
Inventories, net	71,366	71,698
Prepaid expenses	7,390	6,649
Other current assets	15,952	16,869
Total current assets	182,332	173,617
Property and equipment, net	301,682	297,083
Goodwill	59,302	58,599
Intangible assets	1,455	1,547
Non-current deferred tax asset	9,467	9,325
Other assets	10,358	10,203
Total assets	564,596	550,374
Current liabilities:
Notes payable	6,721	6,556
Accounts payable	39,019	40,696
Accrued expenses	64,098	56,076
Current maturities of long-term debt	6,433	5,410
Total current liabilities	116,271	108,738
Long-term debt, net of current maturities	459,436	462,470
Liabilities under capital leases	18,137	8,737
Non-current deferred tax liability	9,255	8,770
Pension, other post-retirement and post-employment obligations	63,722	63,606
Other long-term liabilities	$ 3,898	$ 11,123
Commitments and contingencies
Stockholders’ deficit
Preferred stock, $0.001 par value, 1,000,000 shares authorized; no shares outstanding as of March 31, 2016 and December 31, 2015	$ 0	$ 0
Common stock, $0.001 par value, 20,000,000 shares authorized; 15,994,057 and 15,745,914 shares outstanding as of March 31, 2016 and December 31, 2015, respectively	16	16
Paid-in capital	429,628	430,054
Accumulated deficit	(422,893)	(421,448)
Accumulated other comprehensive loss	(112,874)	(121,692)
Total stockholders’ deficit	(106,123)	(113,070)
Total liabilities and stockholders’ deficit	$ 564,596	$ 550,374

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Mar. 31, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	1,000,000	1,000,000
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	20,000,000	20,000,000
Common stock, shares outstanding (in shares)	15,994,057	15,745,914

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Income Statement [Abstract]
Net Sales	$ 114,965	$ 121,029
Costs and expenses:
Cost of products sold	71,428	72,476
Selling	15,721	16,326
General and administrative	11,507	13,846
Research and development	1,940	1,962
Restructuring	2,832	2,224
Costs and expenses	103,428	106,834
Income from operations	11,537	14,195
Interest expense, net	(10,341)	(9,664)
Foreign exchange gain	24	977
Income before provision for income taxes	1,220	5,508
Provision for income taxes	(2,665)	(3,775)
Net (loss) income	(1,445)	1,733
Comprehensive income (loss)	$ 7,373	$ (29,398)
Net (loss) income per share:
Basic (in dollars per share)	$ (0.09)	$ 0.11
Diluted (in dollars per share)	$ (0.09)	$ 0.11
Shares used in computing net (loss) income per share:
Basic (in shares)	15,789,991	15,560,995
Diluted (in shares)	15,789,991	16,479,368

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Operating activities
Net (loss) income	$ (1,445)	$ 1,733
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Stock-based compensation	592	822
Depreciation	7,900	7,163
Amortization of intangibles	94	79
Deferred financing cost amortization	756	875
Foreign exchange loss (gain) on revaluation of debt	1,120	(1,973)
Deferred taxes	155	979
Loss on disposition of property and equipment	17	14
Provision for doubtful accounts	(72)	472
Change in assets and liabilities which provided (used) cash:
Accounts receivable	(2,130)	(592)
Inventories	2,232	1,436
Prepaid expenses	(621)	25
Other current assets	1,024	(1,679)
Accounts payable and accrued expenses	3,660	2,218
Deferred and other long-term liabilities	792	(3,571)
Net cash provided by operating activities	14,074	8,001
Investing activities
Capital expenditures	(3,550)	(12,155)
Proceeds from disposals of property and equipment	20	32
Net cash used in investing activities	(3,530)	(12,123)
Financing activities
Proceeds from borrowings	13,313	22,568
Principal payments on debt	(16,439)	(18,331)
Payment of financing fees	(98)	(25)
Payment of obligations under capital leases	(673)	(265)
Net cash (used in) provided by financing activities	(3,897)	3,947
Effect of exchange rate changes on cash flows	(1,036)	(516)
Net increase (decrease) in cash	5,611	(691)
Cash and cash equivalents at beginning of period	9,839	9,517
Cash and cash equivalents at end of period	15,450	8,826
Non-cash capitalized lease asset and liability	1,259	0
Accrued construction in process	$ 0	$ 1,519

Description of Business and Sig

Description of Business and Significant Accounting Policies	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Significant Accounting Policies	Description of Business and Significant Accounting Policies Description of Business Xerium Technologies, Inc. (the "Company") is a leading global provider of industrial consumables and mechanical services used in the production of paper, paperboard, building products and nonwoven materials. Its operations are strategically located in the major paper-making regions of the world, including North America, Europe, South America and Asia-Pacific. Basis of Presentation The accompanying unaudited condensed consolidated interim financial statements at March 31, 2016 and for the three ended March 31, 2016 and 2015 include the accounts of the Company and its wholly-owned subsidiaries and have been prepared in conformity with U.S. Generally Accepted Accounting Principles (“GAAP”) for interim financial reporting and pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC"). Accordingly, such financial statements do not include all of the information and footnotes required by GAAP for complete financial statements. GAAP requires the Company’s management to make estimates and assumptions that affect the amounts reported in the financial statements. Actual results could differ from those estimates. The interim results presented herein are not necessarily indicative of the results to be expected for the entire year. In management’s opinion, these unaudited condensed consolidated interim financial statements contain all adjustments of a normal recurring nature necessary for a fair presentation of the financial statements for the interim periods presented. These unaudited condensed consolidated interim financial statements should be read in conjunction with the Company’s audited consolidated financial statements for the year ended December 31, 2015 as reported on the Company's Annual Report on Form 10-K filed on March 14, 2016. Accounting Policies Inventories, net Inventories are generally valued at the lower of cost or market using the first-in, first-out (FIFO) method. Raw materials are valued principally on a weighted average cost basis. The Company’s work in process and finished goods are specifically identified and valued based on actual inputs to production. Provisions are recorded as appropriate to write-down obsolete and excess inventory to estimated net realizable value. The process for evaluating obsolete and excess inventory often requires management to make subjective judgments and estimates concerning future sales levels, quantities and prices at which such inventory will be able to be sold in the normal course of business, while considering the general aging of inventory and factoring in any new business conditions. The components of inventories are as follows at: March 31, December 31, Raw materials $ 12,343 $ 12,389 Work in process 26,695 25,203 Finished goods (includes consigned inventory of $6,496 at March 31, 2016 and $6,513 at December 31, 2015) 38,727 40,058 Inventory allowances (6,399 ) (5,952 ) $ 71,366 $ 71,698 Goodwill The Company accounts for goodwill and other intangible assets in accordance with ASC Topic 350, Intangibles—Goodwill and Other Intangible Assets (“Topic 350”). Topic 350 requires that goodwill and intangible assets that have indefinite lives not be amortized, but instead, must be tested for impairment at least annually or whenever events or business conditions warrant. During the three months ended March 31, 2016 , the Company evaluated events and business conditions to determine if a test for an impairment of goodwill was warranted. No such events or business conditions took place during this period, therefore no test was determined to be warranted at March 31, 2016 . Warranties The Company offers warranties on certain roll products that it sells. The specific terms and conditions of these warranties vary depending on the product sold, the country in which the product is sold and arrangements with the customer. The Company estimates the costs that may be incurred under its warranties and records a liability in Accrued Expenses on its Consolidated Balance Sheet for such costs. Factors that affect the Company’s warranty liability include the number of units sold, historical and anticipated rates of warranty claims, cost per claim and new product introduction. The Company periodically assesses the adequacy of its recorded warranty claims and adjusts the amounts as necessary. The table below represents the changes in the Company’s warranty liability for the three months ended March 31, 2016 and 2015: Beginning Balance Charged to Cost of Sales Effect of Foreign Currency Translation Deduction from Reserves Ending Balance Three Months Ended March 31, 2016: $ 2,175 $ 477 $ 34 $ (189 ) $ 2,497 Three Months Ended March 31, 2015: $ 2,685 $ 336 $ (118 ) $ (578 ) $ 2,325 Net (Loss) Income Per Common Share Net (loss) income per common share has been computed and presented pursuant to the provisions of ASC Topic 260, Earnings per Share (“Topic 260”). Net (loss) income per share is based on the weighted-average number of shares outstanding during the period. As of March 31, 2016 and 2015, the Company had outstanding restricted stock units (“RSUs”), deferred stock units (“DSUs”) and options. The following table sets forth the computation of basic and diluted weighted-average shares: Three Months ended March 31, 2016 2015 Weighted-average common shares outstanding–basic 15,789,991 15,560,995 Dilutive effect of stock-based compensation awards outstanding — 918,373 Weighted-average common shares outstanding–diluted 15,789,991 16,479,368 The following table sets forth the aggregate of the dilutive securities that were outstanding in the three ended March 31, 2016 and 2015, but were not included in the computation of diluted earnings per share because the impact would have been anti-dilutive: Three Months ended March 31, 2016 2015 Anti-dilutive securities 738,294 21,957 Impairment The Company reviews its long-lived assets that have finite lives for impairment in accordance with ASC Topic 360, Property, Plant, and Equipment (“Topic 360”). This topic requires that companies evaluate the fair value of long-lived assets based on the anticipated undiscounted future cash flows to be generated by the assets when indicators of impairment exist to determine if there is impairment to the carrying value. Any change in the carrying amount of an asset as a result of the Company's evaluation has been recorded in either restructuring expense, if it was a result of the Company's restructuring activities, or general and administrative expense for all other impairments in the consolidated statements of operations. For the three months ended March 31, 2016 and 2015, the Company had no impairment charges included in restructuring expense. New Accounting Pronouncements In March of 2016, t he FASB issued Accounting Standards Update No 2016-09 Improvements to Employee Share-Based Payment Accounting ("ASC 2016-09"). ASC 2016-09 will change certain aspects of accounting for share-based payments to employees. The new guidance will require all income tax effects of awards to be recognized in the income statement when the awards vest or are settled. It also will allow an employer to repurchase more of an employee’s shares than it can today for tax withholding purposes without triggering liability accounting and to make a policy election to account for forfeitures as they occur. ASU 2014-09 is required to be adopted in January of 2017. The Company is in the process of evaluating this accounting standard update. In February of 2016, the FASB issued Accounting Standards Update No 2016-02 Leases ("ASC 2016-02"). ASC 2016-02 includes final guidance that requires lessees to put most leases on their balance sheets but recognize expenses in the income statement in a manner similar to today’s accounting. The guidance also eliminates today’s real estate-specific provisions and changes the guidance on sale-leaseback transactions, initial direct costs and lease executory costs for all entities. For lessors, the standard modifies the classification criteria and the accounting for sales-type and direct financing leases. All entities will classify leases to determine how to recognize lease-related revenue and expense. Classification will continue to affect amounts that lessors record on the balance sheet. Entities are required to use a modified retrospective approach for leases that exist or are entered into after the beginning of the earliest comparative period in the financial statements. They have the option to use certain relief. Full retrospective application is prohibited. ASC 2016 - 02 is effective for public companies with annual periods beginning after 15 December 2018, and interim periods within those years. For all other entities, it is effective for annual periods beginning after 15 December 2019, and interim periods the following year. Early adoption is permitted for all entities. The Company is in the process of evaluating this accounting standard update. In November of 2015, the FASB issued ASC 2015-17 Income Taxes (Topic 740), Balance Sheet Classification of Deferred Taxes ("ASC 2015-17"). This guidance requires companies to classify all deferred tax assets and liabilities as non-current on the balance sheet instead of separating deferred taxes into current and non-current amounts. For public companies, the guidance is effective for financial statements issued for annual periods beginning after 15 December 2016 (i.e., 2017 for a calendar-year company) and interim periods within those annual periods. For all other entities, the guidance is effective for financial statements issued for annual periods beginning after 15 December 2017 (i.e., 2018 for a calendar-year company), and interim periods within annual periods beginning a year later. Early adoption of the guidance is permitted. Companies can adopt the guidance either prospectively or retrospectively. The Company is in the process of evaluating this accounting standard update and does not expect that adopting ASC 2015-17 will have a material impact on its consolidated financial statements. In July of 2015, the FASB issued Accounting Standards Update Inventory ("ASU 2015-11"). ASU 2015-11 applies only to first-in, first-out (FIFO) and average cost inventory costing methods and will reduce costs and increase comparability for these methods. There will be no change for last-in, first-out, (LIFO) or retail inventory methods as the costs of transitioning to a new method would outweigh the benefits due to the complexity of these methods. Under this ASU, inventory should be measured at the lower of cost and net realizable value (selling prices in the ordinary course of business less reasonably predictable costs of completion, disposal, and transportation). When the net realizable value of inventory is less than its cost, the difference will be recognized as a loss in earnings in the period in which it occurs. This ASU more closely aligns the measurement of inventory under GAAP with International Financial Reporting Standards guidance. The amendments are effective for public companies for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years, and for other entities, the amendments are effective for fiscal years beginning after December 15, 2016, and interim periods within fiscal years beginning after December 15, 2017. The amendments should be applied prospectively, and early application is permitted as of the beginning of an interim or annual reporting period.The Company is in the process of evaluating this accounting standard update. In May of 2014, the FASB issued Accounting Standard Update No. 2014-09 Revenue from Contracts with Customers ("ASU 2014-09"). ASU 2014-09 requires the use of a new five-step model to recognize revenue from customer contracts. The five-step model requires that the Company identify the contract with the customer, identify the performance obligations in the contract, determine the transaction price, allocate the transaction price to the performance obligations in the contract and recognize revenue when it satisfies the performance obligations. The Company will also be required to disclose information regarding the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. ASU 2014-09 is required to be adopted in January of 2018. Retrospective application is required either to all periods presented or with the cumulative effect of initial adoption recognized in the period of adoption. In addition, in March of 2016, the FASB issued Accounting Standard Update No. 2016-08 P rincipal versus Agent Considerations (Reporting Revenue Gross vs. Net) ("ASU 2016-08"). ASU 2016-08 amends the principal versus agent guidance in ASU 2014-09, and clarifies that the analysis must focus on whether the entity has control of the goods or services before they are transfered to the customer. ASU 2014-09 is required to be adopted in January of 2018. The Company is in the process of evaluating this accounting standard update.

Derivatives and Hedging

Derivatives and Hedging	3 Months Ended
	Mar. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Hedging	Derivatives and Hedging Risk Management Objective of Using Derivatives The Company is exposed to certain risks arising from both its business operations and economic conditions. The Company principally manages its exposures to a wide variety of business and operational risks through management of its core business activities. From time to time, the Company enters into derivative financial instruments to manage exposures that arise from business activities that result in the receipt or payment of future known cash amounts, the value of which are determined by interest rates or foreign exchange rates. Cash Flow Hedges of Interest Rate Risk From time to time, the Company uses interest rate derivatives to add stability to interest expense and to manage its exposure to interest rate movements. However, at March 31, 2016 , the Company had no interest rate swaps. Non-designated Hedges of Foreign Exchange Risk Derivatives not designated as hedges are not speculative and are used to manage the Company’s exposure to foreign exchange rates, but do not meet the strict hedge accounting requirements of ASC Topic 815. Changes in the fair value of derivatives not designated in hedging relationships are recorded directly in earnings. The Company, from time to time, may enter into foreign exchange forward contracts to fix currencies at specified rates based on expected future cash flows to protect against the fluctuations in cash flows resulting from sales denominated in foreign currencies. Additionally, to manage its exposure to fluctuations in foreign currency on intercompany balances and certain purchase commitments, the Company from time to time may use foreign exchange forward contracts. As of March 31, 2016 and December 31, 2015 , the Company had outstanding derivatives that were not designated as hedges in qualifying hedging relationships. The value of these contracts is recognized at fair value based on market exchange forward rates and is recorded in other assets or other liabilities on the Consolidated Balance Sheets. The following represents the fair value of these derivatives at March 31, 2016 and December 31, 2015 and the change in fair value included in foreign exchange gain (loss) in the three months ended March 31, 2016 and 2015: March 31, 2016 December 31, 2015 Fair value of derivative asset (liability) $ 468 $ (1,188 ) Three Months Ended March 31, 2016: Three Months Ended March 31, 2015: Change in fair value of derivative included in foreign exchange loss $ 1,170 $ (2,059 ) The following represents the notional amounts of foreign exchange forward contracts at March 31, 2016 : Notional Sold Notional Purchased Non-designated hedges of foreign exchange risk $ 3,983 $ (49,902 ) Fair Value of Derivatives Under ASC Topic 820 ASC Topic 820, Fair Value Measurements and Disclosures (“Topic 820”), emphasizes that fair value is a market-based measurement, not an entity-specific measurement. Therefore, a fair value measurement should be determined based on the assumptions that market participants would use in pricing the asset or liability. As a basis for considering market participant assumptions in fair value measurements, Topic 820 establishes a fair value hierarchy that distinguishes between market participant assumptions based on market data obtained from sources independent of the reporting entity (observable inputs that are classified within Levels 1 and 2 of the hierarchy) and the reporting entity’s own assumptions about market participant assumptions (unobservable inputs classified within Level 3 of the hierarchy). Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access. Level 2 inputs are inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs may include quoted prices for similar assets and liabilities in active markets, as well as inputs that are observable for the asset or liability (other than quoted prices), such as interest rates, foreign exchange rates, and yield curves that are observable at commonly quoted intervals. Level 3 inputs are unobservable inputs including fair value of investments that do not have the ability to redeem at net asset value as of the measurement date, or during the first quarter following the measurement date. The derivative assets or liabilities are typically based on an entity’s own assumptions, as there is little, if any, market activity. In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and the Company considers factors specific to the asset or liability. The Company determined that its derivative valuations, which are based on market exchange forward rates, fall within Level 2 of the fair value hierarchy.

Long term Debt

Long term Debt	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Long term Debt	Long term Debt At March 31, 2016 and December 31, 2015 , long term debt consisted of the following: March 31, 2016 December 31, 2015 Senior secured term loan facility, payable quarterly, U.S. Dollar denominated–LIBOR $ 223,424 $ 223,937 Senior Notes (Unsecured), payable semi-annually–U.S. Dollar denominated interest rate fixed at 8.875%. Matures June of 2018. 236,410 236,410 Notes payable, working capital loan, variable interest rate at 2.05%. Matures June 30, 2016, with one-year rollover option. 6,721 6,556 Fixed asset loan contract, variable interest rate of 5.78%. Matures June of 2020. 8,515 8,548 Other debt 4,116 6,278 Total debt 479,186 481,729 Less deferred financing costs (6,596 ) (7,293 ) Less current maturities of long term debt and notes payable (13,154 ) (11,966 ) Total long term debt $ 459,436 $ 462,470 On May 17, 2013, the Company entered into a Credit and Guaranty Agreement for a $200.0 million term loan credit facility (the “Term Credit Facility”), net of a discount of $1.0 million , among the Company, certain direct and indirect U.S. subsidiaries of the Company as guarantors and certain financial institutions. The Company also entered into a Revolving Credit and Guaranty Agreement originally for a $40.0 million asset-based revolving credit facility subject to a borrowing base among Xerium Technologies, Inc., as a US borrower, Xerium Canada Inc., as Canadian borrower, certain direct and indirect U.S. subsidiaries of the Company as guarantors and certain financial institutions (the "Domestic Revolver"). On March 3, 2014, the Company entered into an amendment to the Revolving Credit and Guaranty Agreement (as amended, the “ABL Facility,” and collectively with the Term Credit Facility, the “Credit Facility”), increasing the aggregate availability under the ABL Facility to $55 million . On November 3, 2015, the Company refinanced its existing ABL Facility and entered into a new Revolving Credit and Guaranty Agreement (as amended, the "New ABL Facility") with one of its existing ABL lenders. The amount of the ABL Facility continues to provide aggregate availability of $55 million and the collateral pledged thereunder will has remained the same. The New ABL Facility matures in November of 2020 and accrues interest at LIBOR plus a margin of 75 basis points, and is 4.50% at March 31, 2016. On August 18, 2014, the Company entered into the Second Amendment to Credit and Guaranty Agreement (the “Second Amendment”). Under the Second Amendment, the Company borrowed an additional $30.0 million by utilizing the Incremental Facility. The $30.0 million in additional borrowings was used to finance a tax amnesty payment in Brazil. The Second Amendment made no changes to the repayment and other previously disclosed terms of the Credit Facility. The Credit Facility contains certain customary covenants that, subject to exceptions, restrict the Company's ability to, among other things: • declare dividends or redeem or repurchase equity interests; • prepay, redeem or purchase debt; • incur liens and engage in sale-leaseback transactions; • make loans and investments; • incur additional indebtedness; • amend or otherwise alter debt and other material agreements; • make capital expenditures in excess of $42 million per fiscal year, subject to adjustment; • engage in mergers, acquisitions and asset sales; • transact with affiliates; and • engage in businesses that are not related to the Company's existing business. On July 17, 2015 (the "Closing Date"), Xerium China, Co., Ltd. ("Xerium China"), a wholly-owned subsidiary of the Company entered into and closed a Fixed Assets Loan Contract (the "Loan Agreement") with the Industrial and Commercial Bank of China Limited, Shanghai-Jingan Branch (the “Bank”) with respect to a RMB 58.5 million loan, which was approximately $9.4 million USD on July 17, 2015. The loan is secured by pledged machinery and equipment of Xerium China and guaranteed by Xerium Asia Pacific (Shanghai) Limited and Stowe Woodward (Changzhou) Roll Technologies Co. Ltd., which are wholly-owned subsidiaries of the Company, pursuant to guarantee agreements (the "Guarantee Agreements"). Interest on the outstanding principal balance of the loan accrues at a benchmark rate plus a margin. The current interest rate at March 31, 2016 is approximately 5.8% . The interest rate will be adjusted every 12 months during the term of the loan, based on the benchmark interest rate adjustment. Interest under the loan is payable quarterly in arrears. Principal on the loan is to be repaid in part every six months following the Closing Date, in accordance with a predetermined schedule set forth in the Loan Agreement. Proceeds of the Loan will be used by Xerium China to purchase production equipment. The Loan Agreement contains certain customary representations and warranties and provisions relating to events of default. As of March 31, 2016 , the outstanding balance of the Company's term debt under its Credit Facility and Notes was $459.8 million , which is net of a $0.6 million discount. In addition, as of March 31, 2016 , an aggregate of $33.9 million is available for additional borrowings. This availability represents a borrowing base of $36.9 million less $3.0 million of that facility committed for letters of credit or additional borrowings. As of March 31, 2016 , the carrying value of the Company’s long term debt was $466.0 million and its fair value was approximately $419.2 million . The Company determined the fair value of its debt utilizing significant other observable inputs (Level 2 of the fair value hierarchy). Capitalized Lease Liabilities As of March 31, 2016 , the Company had capitalized lease liabilities totaling $18.1 million . These amounts represent the lease on the corporate headquarters and the Kunshan, China facility, as well as other leases for software, vehicles and machinery and equipment. In addition, in April of 2016, the Company entered into sales - lease back arrangements totaling $6.0 for various machinery and equipment in North America. The proceeds were used to fund the JJ Plank acquisition, which closed in May of 2016.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company utilizes the liability method for accounting for income taxes in accordance with ASC Topic 740 , Income Taxes (“Topic 740”). Under Topic 740, deferred tax assets and liabilities are determined based on the difference between their financial reporting and tax basis. The assets and liabilities are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company reduces its deferred tax assets by a valuation allowance if, based upon the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. In making this determination, the Company evaluates all available information including the Company’s financial position and results of operations for the current and preceding years, as well as any available projected information for future years. For the three months ended March 31, 2016 , the provision for income taxes was $2,665 as compared to $3,775 for the three months ended March 31, 2015 . The decrease in tax expense in the three months ended March 31, 2016 was primarily attributable to decreased earnings in 2016, as well as a tax benefit in the current quarter related to additional interest deductions resulting from the 2014 Brazil tax assessments, as compared to tax expense in the prior quarter resulting from an increase in the unrecognized tax benefit due to the effects of income tax audits. Generally, the provision for income taxes is primarily impacted by income earned in tax paying jurisdictions relative to income earned in non-tax paying jurisdictions. The majority of income recognized for purposes of computing the effective tax rate is earned in countries where the statutory income tax rates range from 15.0% to 35.4% ; however, permanent income adjustments recorded against pre-tax earnings may result in an effective tax rate that is higher or lower than the statutory tax rate in these jurisdictions. The Company generates losses in certain jurisdictions for which no tax benefit is realized, as the deferred tax assets in these jurisdictions (including the net operating losses) are fully reserved in the valuation allowance. For this reason, the Company recognizes minimal income tax expense or benefit in these jurisdictions, of which the most material jurisdictions are the United States and Australia. Due to these reserves, the geographic mix of the Company’s pre-tax earnings has a direct correlation with how high or low its annual effective tax rate is relative to consolidated earnings. As the Company continues to reorganize and restructure its operations, it is possible that deferred tax assets, for which no income tax benefit has previously been provided, may more likely than not become realized. The company continues to evaluate future operations and will record an income tax benefit in the period where it believes it is more likely than not that the deferred tax asset will be able to be realized. The most material unrecognized deferred tax asset relates to the U.S. By 2029, future U.S. earnings ranging between $30 million and $120 million , generated by U.S. earnings from continuing operations or qualified tax planning strategies, would be required in order to fully recognize the U.S. deferred tax asset. Historic and future ownership changes could potentially reduce the amount of net operating loss carry-forwards available for use. As of March 31, 2016 , the Company had a gross amount of unrecognized tax benefit of $7,791 , exclusive of interest and penalties. The unrecognized tax benefit increased by approximately $264 during the three months ended March 31, 2016 , as a result of new positions related to the current year and foreign currency effects. The Company’s policy is to recognize interest and penalties related to income tax matters as income tax expense, which were $40 related to the unrecognized tax benefits for the three months ended March 31, 2016 . The tax years 2002 through 2015 remain open to examination in a number of the major tax jurisdictions to which the Company and its subsidiaries are subject. The Company believes that it has made adequate provisions for all income tax uncertainties.

Pensions, Other Post-retirement

Pensions, Other Post-retirement and Post-employment Benefits	3 Months Ended
	Mar. 31, 2016
Compensation and Retirement Disclosure [Abstract]
Pensions, Other Post-retirement and Post-employment Benefits	Pensions, Other Post-retirement and Post-employment Benefits The Company accounts for its pensions, other post-retirement and post-employment benefit plans in accordance with ASC Topic 715, Compensation—Retirement Benefits (“Topic 715”). The Company has defined benefit pension plans covering substantially all of its U.S. and Canadian employees and employees of certain subsidiaries in other countries. Benefits are generally based on the employee’s years of service and compensation. These plans are funded in conformity with the funding requirements of applicable government regulations. The Company does not fund certain plans, as funding is not required. The Company plans to continue to fund its U.S. defined benefit plans to comply with the Pension Protection Act of 2006. In addition, the Company also intends to fund its U.K. and Canadian defined benefit plans in accordance with local regulations. As required by Topic 715, the following tables summarize the components of net periodic benefit cost: Defined Benefit Plans Three Months ended March 31, 2016 2015 Service cost $ 405 $ 842 Interest cost 1,485 1,670 Expected return on plan assets (1,548 ) (1,815 ) Amortization of net loss 558 755 Net periodic benefit cost $ 900 $ 1,452

Comprehensive Loss and Accumula

Comprehensive Loss and Accumulated Other Comprehensive Loss	3 Months Ended
	Mar. 31, 2016
Equity [Abstract]
Comprehensive Loss and Accumulated Other Comprehensive Loss	Comprehensive Loss and Accumulated Other Comprehensive Loss Comprehensive loss for the three months ended March 31, 2016 (net of tax expense of $67 ) and 2015 (net of tax expense of $851 ) is as follows: Three Months ended March 31, 2016 2015 Net (loss) income $ (1,445 ) $ 1,733 Foreign currency translation adjustments 8,460 (32,857 ) Pension liability changes under Topic 715 358 1,684 Change in value of derivative instruments — 42 Comprehensive income (loss) $ 7,373 $ (29,398 ) The components of accumulated other comprehensive loss for the three months ended March 31, 2016 are as follows (net of tax benefits of $6,954 ): Foreign Currency Translation Adjustment Pension Liability Changes Under Topic 715 Change in Value of Derivative Instruments Accumulated Other Comprehensive (Loss) Income Balance at December 31, 2015 $ (85,982 ) $ (35,759 ) $ 49 $ (121,692 ) Other comprehensive loss before reclassifications 8,460 — — 8,460 Amounts reclassified from other comprehensive loss Amortization of actuarial losses — 358 — 358 Net current period other comprehensive loss (income) 8,460 358 — 8,818 Balance at March 31, 2016 $ (77,522 ) $ (35,401 ) $ 49 $ (112,874 ) For the three months ended March 31, 2016 , the amortization of actuarial losses is included in cost of products sold and general and administrative expenses in the Consolidated Statements of Operations.

Restructuring and Impairment Ex

Restructuring and Impairment Expense	3 Months Ended
	Mar. 31, 2016
Restructuring and Related Activities [Abstract]
Restructuring and Impairment Expense	Restructuring Expense For the three months ended March 31, 2016 , the Company incurred restructuring expenses of $2.8 million . These included $0.7 million of charges related to the closure of the Middletown, Va. facility and $2.1 million of charges relating to headcount reductions and other costs related to previous plant closures. For the three months ended March 31, 2015, the Company incurred restructuring expenses of $2.2 million . These included charges of $1.3 million relating to the closure of the Joao Pessoa, Brazil plant and headcount reductions of $0.9 million . The following table sets forth the significant components of the restructuring accrual (included in Accrued Expenses on our Consolidated Balance Sheet), including activity under restructuring programs for the three months ended March 31, 2016 and 2015: Balance at Charges Currency Cash Balance at Severance and other benefits $ 5,308 $ 1,390 $ 62 $ (1,804 ) $ 4,956 Facility costs and other 903 1,442 63 (1,871 ) 537 Total $ 6,211 $ 2,832 $ 125 $ (3,675 ) $ 5,493 Balance at Charges Currency Cash Balance at Severance and other benefits $ 4,880 $ 881 $ (243 ) $ (1,286 ) $ 4,232 Facility costs and other 818 1,343 (365 ) (1,796 ) — Total $ 5,698 $ 2,224 $ (608 ) $ (3,082 ) $ 4,232 Restructuring and impairment expense by segment, which is not included in Segment Earnings in Note 8, is as follows: Three Months Ended March 31, 2016 2015 Clothing $ 1,452 $ 2,092 Roll Covers 891 101 Corporate 489 31 Total $ 2,832 $ 2,224

Business Segment Information

Business Segment Information	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Business Segment Information	Business Segment Information The Company is a global manufacturer and supplier of consumable products used primarily in the production of paper and is organized into two reportable segments: clothing and roll covers. The clothing segment represents the manufacture and sale of synthetic textile belts used to transport paper along the length of papermaking machines. The roll covers segment primarily represents the manufacture and refurbishment of covers used on the steel rolls of papermaking machines and the servicing of those rolls. The Company manages each of these operating segments separately. Management evaluates segment performance based on adjusted earnings before interest, taxes, depreciation and amortization, yet after allocation of corporate charges. Such measure is then adjusted to exclude items that are of an unusual nature and are not used in measuring segment performance or are not segment specific (“Segment Earnings (Loss)”). The accounting policies of these segments are the same as those for the Company as a whole. Inter-segment net sales and inter-segment eliminations are not material for any of the periods presented. Summarized financial information for the Company’s reportable segments is presented in the tables that follow for the three months ended March 31, 2016 and 2015. Clothing Roll Corporate Total Three Months Ended March 31, 2016: Net Sales $ 71,337 $ 43,628 $ — $ 114,965 Segment Earnings (Loss) $ 18,638 $ 9,258 $ (3,937 ) $ 23,959 Three Months Ended March 31, 2015: Net Sales $ 77,284 $ 43,745 $ — $ 121,029 Segment Earnings (Loss) $ 21,766 8,091 (3,647 ) $ 26,210 Provided below is a reconciliation of Segment Earnings (Loss) to income before provision for income taxes for the three months ended March 31, 2016 and 2015, respectively. Three Months ended March 31, 2016 2015 Segment Earnings: Clothing $ 18,638 $ 21,766 Roll Covers 9,258 8,091 Corporate (3,937 ) (3,647 ) Stock-based compensation (592 ) (822 ) Interest expense, net (10,341 ) (9,664 ) Depreciation and amortization (7,994 ) (7,242 ) Restructuring expense (2,832 ) (2,224 ) Other non-recurring expense (103 ) — Plant startup costs (877 ) (750 ) Income before provision for income taxes $ 1,220 $ 5,508

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies The Company is involved in various legal matters which have arisen in the ordinary course of business as a result of various immaterial labor claims, taxing authority reviews and other routine legal matters. As of March 31, 2016 , the Company accrued an immaterial amount in its financial statements for these matters for which the Company believed the possibility of loss was probable and was able to estimate the damages. The Company does not believe that the ultimate resolution of these matters will have a material adverse effect on its financial position, results of operations or cash flow. The Company believes that any additional liability in excess of amounts provided which may result from the resolution of legal matters will not have a material adverse effect on the financial condition, liquidity or cash flow of the Company.

Stock-Based Compensation and St

Stock-Based Compensation and Stockholders' Deficit	3 Months Ended
	Mar. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation and Stockholders' Deficit	Stock-Based Compensation and Stockholders’ Deficit The Company records stock-based compensation expense in accordance with ASC Topic 718, Accounting for Stock Compensation and has used the straight-line attribution method to recognize expense for RSUs, options and DSUs. The Company recorded stock-based compensation expense during the three months ended March 31, 2016 and March 31, 2015 as follows: Three Months ended March 31, 2016 2015 RSU, Options and DSU Awards (1) $ 592 $ 822 (1) Related to RSUs, Options and DSUs awarded to certain employees and non-employee directors. Long-Term Incentive Program—2015 LTIP and 2014 LTIP At March 31, 2016, based on the current stock price of the Company, management performed a valuation on the market-based stock units, and determined the estimated payout to be at 0% under both the 2015 and 2014 LTIP plans, and reduced stock compensation by $0.2 million in accordance with ASC Topic 718, Compensation—Stock Compensation. Long-Term Incentive Program—2013 LTIP Awards under the 2013 LTIP vested on March 15, 2016, and were converted to 207,385 shares of common stock, net of withholdings. Directors’ Deferred Stock Unit Plan Under the 2011 non-management directors stock plan ("2011 DSU Plan”), as amended in January of 2015, each director receives an annual retainer of $132 , to be paid on a quarterly basis in arrears. Approximately half of the annual retainer is payable in DSUs, with the remaining half payable in cash or a mix of both cash and DSUs at the election of each director. The non-management directors were awarded an aggregate of 21,938 DSUs under the 2011 DSU Plan for service during the quarter ended March 31, 2016 . In addition, in accordance with the 2011 DSU Plan, as amended in January of 2015, 18,524 DSUs were settled in common stock during the quarter ended March 31, 2016 . In addition, in March of 2016, 22,234 DSU's were settled in common stock in connection with the retirement of a director in September of 2015.

Supplemental Guarantor Financia

Supplemental Guarantor Financial Information	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Supplemental Guarantor Financial Information	Supplemental Guarantor Financial Information On May 26, 2011, the Company closed on the sale of its Notes. The Notes are unsecured obligations of the Company and are fully and unconditionally guaranteed on a senior unsecured basis by all of the domestic wholly owned subsidiaries of the Company (the “Guarantors”). In accordance with Rule 3-10 of Regulation S-X promulgated under the Securities Act of 1933, as amended, the following condensed consolidating financial statements present the financial position, results of operations and cash flows of Xerium Technologies, Inc. (referred to as “Parent” for the purpose of this note only) on a stand-alone parent-only basis, the Guarantors on a Guarantors-only basis, the combined non-Guarantor subsidiaries and elimination entries necessary to arrive at the information for the Parent, the Guarantors and non-Guarantor subsidiaries on a consolidated basis. Xerium Technologies, Inc. Consolidating Balance Sheet—(Unaudited) At March 31, 2016 (Dollars in thousands) Parent Total Total Non Other The ASSETS Current assets: Cash and cash equivalents $ 2,062 $ (2 ) $ 13,390 $ — $ 15,450 Accounts receivable, net 575 17,742 53,857 — 72,174 Intercompany receivables (112,466 ) 118,426 (5,960 ) — — Inventories, net — 13,466 58,921 (1,021 ) 71,366 Prepaid expenses 1,383 1,160 4,847 — 7,390 Other current assets — 2,682 13,270 — 15,952 Total current assets (108,446 ) 153,474 138,325 (1,021 ) 182,332 Property and equipment, net 9,082 68,922 223,678 — 301,682 Investments 846,166 226,119 — (1,072,285 ) — Goodwill — 17,737 41,565 — 59,302 Intangible assets — 1,320 135 — 1,455 Non-current deferred tax asset — — 9,467 — 9,467 Other assets — — 10,358 — 10,358 Total assets $ 746,802 $ 467,572 $ 423,528 $ (1,073,306 ) $ 564,596 LIABILITIES AND STOCKHOLDERS’ (DEFICIT) EQUITY Current liabilities: Accounts payable $ 2,486 $ 10,523 $ 26,010 $ — $ 39,019 Accrued expenses 19,416 9,313 35,369 — 64,098 Notes payable — — 6,721 — 6,721 Current maturities of long-term debt 2,591 2,300 1,542 — 6,433 Total current liabilities 24,493 22,136 69,642 — 116,271 Long-term debt, net of current maturities 451,948 — 7,488 — 459,436 Liabilities under capital leases 3,208 5,513 9,416 — 18,137 Non-current deferred tax liability (1,342 ) 1,243 9,354 — 9,255 Pension, other post-retirement and post-employment obligations 19,460 2,998 41,264 — 63,722 Other long-term liabilities — — 3,898 — 3,898 Intercompany loans 343,403 (404,580 ) 61,177 — — Total stockholders’ (deficit) equity (94,368 ) 840,262 221,289 (1,073,306 ) (106,123 ) Total liabilities and stockholders’ equity $ 746,802 $ 467,572 $ 423,528 $ (1,073,306 ) $ 564,596 Xerium Technologies, Inc. Consolidating Balance Sheet At December 31, 2015 (Dollars in thousands) Parent Total Total Non Other The ASSETS Current assets: Cash and cash equivalents $ 3,105 $ (2 ) $ 6,736 $ — $ 9,839 Accounts receivable, net 20 18,585 49,957 — 68,562 Intercompany receivables (110,541 ) 113,736 (3,195 ) — — Inventories, net — 14,694 57,929 (925 ) 71,698 Prepaid expenses 510 1,330 4,809 — 6,649 Other current assets — 2,849 14,020 — 16,869 Total current assets (106,906 ) 151,192 130,256 (925 ) 173,617 Property and equipment, net 9,518 68,075 219,490 — 297,083 Investments 837,064 207,443 — (1,044,507 ) — Goodwill — 17,737 40,862 — 58,599 Intangible assets — 1,389 158 — 1,547 Non-current deferred tax asset — — 9,325 9,325 Other assets — — 10,203 — 10,203 Total assets $ 739,676 $ 445,836 $ 410,294 $ (1,045,432 ) $ 550,374 LIABILITIES AND STOCKHOLDERS’ (DEFICIT) EQUITY Current liabilities: Accounts payable $ 2,642 $ 11,100 $ 26,954 $ — $ 40,696 Accrued expenses 12,661 9,668 33,747 — 56,076 Notes payable — — 6,556 — 6,556 Current maturities of long-term debt 2,663 1,937 810 — 5,410 Total current liabilities 17,966 22,705 68,067 — 108,738 Long-term debt, net of current maturities 451,923 — 10,547 — 462,470 Liabilities under capital leases 3,276 4,425 1,036 — 8,737 Non-current deferred tax liability (1,515 ) 1,243 9,042 — 8,770 Pension, other post-retirement and post-employment obligations 19,950 2,619 41,037 — 63,606 Other long-term liabilities — — 11,123 — 11,123 Intercompany loans 341,412 (403,154 ) 61,742 — — Total stockholders’ (deficit) equity (93,336 ) 817,998 207,700 (1,045,432 ) (113,070 ) Total liabilities and stockholders’ (deficit) equity $ 739,676 $ 445,836 $ 410,294 $ (1,045,432 ) $ 550,374 Xerium Technologies, Inc. Consolidating Statement of Operations and Comprehensive (Loss) Income (Unaudited) For the three months ended March 31, 2016 (Dollars in thousands) Parent Total Total Non Other The Net sales $ — $ 40,588 $ 81,600 $ (7,223 ) $ 114,965 Costs and expenses: Cost of products sold — 28,296 50,259 (7,127 ) 71,428 Selling 305 5,011 10,405 — 15,721 General and administrative 2,691 923 7,893 — 11,507 Research and development 380 1,091 469 — 1,940 Restructuring 428 1,028 1,376 — 2,832 3,804 36,349 70,402 (7,127 ) 103,428 (Loss) income from operations (3,804 ) 4,239 11,198 (96 ) 11,537 Interest (expense) income, net (9,714 ) 517 (1,144 ) — (10,341 ) Foreign exchange gain (loss) 17 (54 ) 61 — 24 Equity in subsidiaries income 9,102 7,804 — (16,906 ) — Dividend income 3,145 — — (3,145 ) — (Loss) income before provision for income taxes (1,254 ) 12,506 10,115 (20,147 ) 1,220 Provision for income taxes (191 ) (2 ) (2,472 ) — (2,665 ) Net (loss) income $ (1,445 ) $ 12,504 $ 7,643 $ (20,147 ) $ (1,445 ) Comprehensive (loss) income $ (606 ) $ 12,494 $ 15,632 $ (20,147 ) $ 7,373 Xerium Technologies, Inc. Consolidating Statement of Operations and Comprehensive Income (Loss)-(Unaudited) For the three months ended March 31, 2015 (Dollars in thousands) Parent Total Total Non Other The Net sales $ — $ 42,850 $ 81,688 $ (3,509 ) $ 121,029 Costs and expenses: Cost of products sold (348 ) 29,378 46,860 (3,414 ) 72,476 Selling 268 4,801 11,257 — 16,326 General and administrative 2,828 1,411 9,607 — 13,846 Research and development 232 1,196 534 — 1,962 Restructuring 7,952 175 (5,903 ) — 2,224 10,932 36,961 62,355 (3,414 ) 106,834 (Loss) income from operations (10,932 ) 5,889 19,333 (95 ) 14,195 Interest (expense) income, net (9,399 ) 1,160 (1,425 ) — (9,664 ) Foreign exchange gain (loss) 213 (141 ) 905 — 977 Dividend income 700 — — (700 ) — Equity in subsidiaries income 21,669 6,623 — (28,292 ) — Income before provision for income taxes 2,251 13,531 18,813 (29,087 ) 5,508 Provision for income taxes (518 ) (29 ) (3,228 ) — (3,775 ) Net income $ 1,733 $ 13,502 $ 15,585 $ (29,087 ) $ 1,733 Comprehensive income (loss) $ 1,631 $ 14,143 $ (16,085 ) $ (29,087 ) $ (29,398 ) Xerium Technologies, Inc. Consolidating Statement of Cash Flows-(Unaudited) For the three months ended March 31, 2016 (Dollars in thousands) Parent Total Total Non Other The Operating activities Net (loss) income $ (1,445 ) $ 12,504 $ 7,643 $ (20,147 ) $ (1,445 ) Adjustments to reconcile net income to net cash (used in) provided by operating activities: Stock-based compensation 603 — (11 ) — 592 Depreciation 555 2,053 5,292 — 7,900 Amortization of intangibles — 69 25 — 94 Deferred financing cost amortization 732 — 24 — 756 Foreign exchange gain on revaluation of debt 1,120 — — — 1,120 Deferred taxes 173 — (18 ) — 155 Loss on disposition of property and equipment — — 17 — 17 Provision for doubtful accounts — — (72 ) — (72 ) Undistributed equity in earnings of subsidiaries (9,102 ) (7,804 ) — 16,906 — Change in assets and liabilities which provided (used) cash: Accounts receivable (555 ) 842 (2,417 ) — (2,130 ) Inventories — 1,229 907 96 2,232 Prepaid expenses (872 ) 170 81 — (621 ) Other current assets — 167 857 — 1,024 Accounts payable and accrued expenses 5,430 (932 ) (838 ) — 3,660 Deferred and other long-term liabilities 3 379 410 — 792 Intercompany loans 1,925 (4,721 ) 2,796 — — Net cash (used in) provided by operating activities (1,433 ) 3,956 14,696 (3,145 ) 14,074 Investing activities Capital expenditures (117 ) (938 ) (2,495 ) — (3,550 ) Intercompany property and equipment transfers, net (2 ) 2 — — — Proceeds from disposals of property and equipment — 5 15 — 20 Net cash used in investing activities (119 ) (931 ) (2,480 ) — (3,530 ) Financing activities — Proceeds from borrowings 10,992 — 2,321 — 13,313 Principal payments on debt (11,547 ) — (4,892 ) — (16,439 ) Dividends paid — (3,145 ) — 3,145 — Payment of obligations under capital leases (67 ) (517 ) (89 ) — (673 ) Payment of financing fees (116 ) — 18 — (98 ) Intercompany loans 1,247 637 (1,884 ) — — Net cash provided by (used in) financing activities 509 (3,025 ) (4,526 ) 3,145 (3,897 ) Effect of exchange rate changes on cash flows — — (1,036 ) — (1,036 ) Net (decrease) increase in cash (1,043 ) — 6,654 — 5,611 Cash and cash equivalents at beginning of period 3,105 (2 ) 6,736 — 9,839 Cash and cash equivalents at end of period $ 2,062 $ (2 ) $ 13,390 $ — $ 15,450 Xerium Technologies, Inc. Consolidating Statement of Cash Flows (Unaudited) For the three months ended March 31, 2015 (Dollars in Thousands) Parent Total Total Non Other The Operating activities Net income (loss) $ 1,733 $ 13,502 $ 15,585 $ (29,087 ) $ 1,733 Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities: Stock-based compensation 752 — 70 — 822 Depreciation 361 1,719 5,083 — 7,163 Amortization of intangibles — 69 10 — 79 Deferred financing cost amortization 852 — 23 — 875 Foreign exchange gain on revaluation of debt (1,973 ) — — — (1,973 ) Deferred taxes 511 — 468 — 979 Loss (gain) on disposition of property and equipment — 25 (11 ) — 14 Provision for doubtful accounts — 49 423 — 472 Undistributed equity in earnings of subsidiaries (21,669 ) (6,623 ) — 28,292 — Change in assets and liabilities which provided (used) cash: Accounts receivable (47 ) 231 (776 ) — (592 ) Inventories — 1,047 294 95 1,436 Prepaid expenses (1,328 ) 543 810 — 25 Other current assets — 326 (2,005 ) — (1,679 ) Accounts payable and accrued expenses 5,618 (947 ) (2,453 ) — 2,218 Deferred and other long-term liabilities (42 ) 347 (3,876 ) — (3,571 ) Intercompany loans (4,290 ) (3,343 ) 7,633 — — Net cash (used in) provided by operating activities (19,522 ) 6,945 21,278 (700 ) 8,001 Investing activities Capital expenditures (4,697 ) (1,103 ) (6,355 ) — (12,155 ) Intercompany property and equipment transfers, net — 191 (191 ) — — Proceeds from disposals of property and equipment — 26 6 — 32 Net cash (used in) provided by investing activities (4,697 ) (886 ) (6,540 ) — (12,123 ) Financing activities — Net increase in notes payable — — 3,526 3,526 Proceeds from borrowings 13,516 — 5,526 — 19,042 Principal payments on debt (14,059 ) — (4,272 ) — (18,331 ) Dividends paid — (700 ) 700 — Payments of obligations under capitalized leases (161 ) (101 ) (3 ) — (265 ) Payment of deferred financing fees (34 ) — 9 — (25 ) Intercompany loans 19,587 (5,258 ) (14,329 ) — — Other financing activities 5,500 — (5,500 ) — Net cash provided by (used in) financing activities 24,349 (6,059 ) (15,043 ) 700 3,947 Effect of exchange rate changes on cash flows — — (516 ) — (516 ) Net (decrease) increase in cash 130 — (821 ) — (691 ) Cash and cash equivalents at beginning of period 605 (14 ) 8,926 — 9,517 Cash and cash equivalents at end of period $ 735 $ (14 ) $ 8,105 $ — $ 8,826

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2016
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On May 3, 2016, the Company signed an agreement to acquire J.J. Plank Corporation ("JJ Plank") for approximately $18 million ( $16.0 million payable at closing, with the remainder due upon certain post-closing milestones). JJ Plank is a specialty rolls & services company primarily serving targeted markets of the Company’s commercial repositioning program, and has products and services that the Company does not provide today.

Description of Business and S18

Description of Business and Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated interim financial statements at March 31, 2016 and for the three ended March 31, 2016 and 2015 include the accounts of the Company and its wholly-owned subsidiaries and have been prepared in conformity with U.S. Generally Accepted Accounting Principles (“GAAP”) for interim financial reporting and pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC"). Accordingly, such financial statements do not include all of the information and footnotes required by GAAP for complete financial statements. GAAP requires the Company’s management to make estimates and assumptions that affect the amounts reported in the financial statements. Actual results could differ from those estimates. The interim results presented herein are not necessarily indicative of the results to be expected for the entire year. In management’s opinion, these unaudited condensed consolidated interim financial statements contain all adjustments of a normal recurring nature necessary for a fair presentation of the financial statements for the interim periods presented. These unaudited condensed consolidated interim financial statements should be read in conjunction with the Company’s audited consolidated financial statements for the year ended December 31, 2015 as reported on the Company's Annual Report on Form 10-K filed on March 14, 2016.
Inventories, net	Inventories, net Inventories are generally valued at the lower of cost or market using the first-in, first-out (FIFO) method. Raw materials are valued principally on a weighted average cost basis. The Company’s work in process and finished goods are specifically identified and valued based on actual inputs to production. Provisions are recorded as appropriate to write-down obsolete and excess inventory to estimated net realizable value. The process for evaluating obsolete and excess inventory often requires management to make subjective judgments and estimates concerning future sales levels, quantities and prices at which such inventory will be able to be sold in the normal course of business, while considering the general aging of inventory and factoring in any new business conditions.
Goodwill	Goodwill The Company accounts for goodwill and other intangible assets in accordance with ASC Topic 350, Intangibles—Goodwill and Other Intangible Assets (“Topic 350”). Topic 350 requires that goodwill and intangible assets that have indefinite lives not be amortized, but instead, must be tested for impairment at least annually or whenever events or business conditions warrant. During the three months ended March 31, 2016 , the Company evaluated events and business conditions to determine if a test for an impairment of goodwill was warranted. No such events or business conditions took place during this period, therefore no test was determined to be warranted at March 31, 2016 .
Warranties	Warranties The Company offers warranties on certain roll products that it sells. The specific terms and conditions of these warranties vary depending on the product sold, the country in which the product is sold and arrangements with the customer. The Company estimates the costs that may be incurred under its warranties and records a liability in Accrued Expenses on its Consolidated Balance Sheet for such costs. Factors that affect the Company’s warranty liability include the number of units sold, historical and anticipated rates of warranty claims, cost per claim and new product introduction. The Company periodically assesses the adequacy of its recorded warranty claims and adjusts the amounts as necessary.
Net (Loss) Income Per Common Share	Net (Loss) Income Per Common Share Net (loss) income per common share has been computed and presented pursuant to the provisions of ASC Topic 260, Earnings per Share (“Topic 260”). Net (loss) income per share is based on the weighted-average number of shares outstanding during the period.
Impairment	Impairment The Company reviews its long-lived assets that have finite lives for impairment in accordance with ASC Topic 360, Property, Plant, and Equipment (“Topic 360”). This topic requires that companies evaluate the fair value of long-lived assets based on the anticipated undiscounted future cash flows to be generated by the assets when indicators of impairment exist to determine if there is impairment to the carrying value. Any change in the carrying amount of an asset as a result of the Company's evaluation has been recorded in either restructuring expense, if it was a result of the Company's restructuring activities, or general and administrative expense for all other impairments in the consolidated statements of operations.
New Accounting Pronouncements	New Accounting Pronouncements In March of 2016, t he FASB issued Accounting Standards Update No 2016-09 Improvements to Employee Share-Based Payment Accounting ("ASC 2016-09"). ASC 2016-09 will change certain aspects of accounting for share-based payments to employees. The new guidance will require all income tax effects of awards to be recognized in the income statement when the awards vest or are settled. It also will allow an employer to repurchase more of an employee’s shares than it can today for tax withholding purposes without triggering liability accounting and to make a policy election to account for forfeitures as they occur. ASU 2014-09 is required to be adopted in January of 2017. The Company is in the process of evaluating this accounting standard update. In February of 2016, the FASB issued Accounting Standards Update No 2016-02 Leases ("ASC 2016-02"). ASC 2016-02 includes final guidance that requires lessees to put most leases on their balance sheets but recognize expenses in the income statement in a manner similar to today’s accounting. The guidance also eliminates today’s real estate-specific provisions and changes the guidance on sale-leaseback transactions, initial direct costs and lease executory costs for all entities. For lessors, the standard modifies the classification criteria and the accounting for sales-type and direct financing leases. All entities will classify leases to determine how to recognize lease-related revenue and expense. Classification will continue to affect amounts that lessors record on the balance sheet. Entities are required to use a modified retrospective approach for leases that exist or are entered into after the beginning of the earliest comparative period in the financial statements. They have the option to use certain relief. Full retrospective application is prohibited. ASC 2016 - 02 is effective for public companies with annual periods beginning after 15 December 2018, and interim periods within those years. For all other entities, it is effective for annual periods beginning after 15 December 2019, and interim periods the following year. Early adoption is permitted for all entities. The Company is in the process of evaluating this accounting standard update. In November of 2015, the FASB issued ASC 2015-17 Income Taxes (Topic 740), Balance Sheet Classification of Deferred Taxes ("ASC 2015-17"). This guidance requires companies to classify all deferred tax assets and liabilities as non-current on the balance sheet instead of separating deferred taxes into current and non-current amounts. For public companies, the guidance is effective for financial statements issued for annual periods beginning after 15 December 2016 (i.e., 2017 for a calendar-year company) and interim periods within those annual periods. For all other entities, the guidance is effective for financial statements issued for annual periods beginning after 15 December 2017 (i.e., 2018 for a calendar-year company), and interim periods within annual periods beginning a year later. Early adoption of the guidance is permitted. Companies can adopt the guidance either prospectively or retrospectively. The Company is in the process of evaluating this accounting standard update and does not expect that adopting ASC 2015-17 will have a material impact on its consolidated financial statements. In July of 2015, the FASB issued Accounting Standards Update Inventory ("ASU 2015-11"). ASU 2015-11 applies only to first-in, first-out (FIFO) and average cost inventory costing methods and will reduce costs and increase comparability for these methods. There will be no change for last-in, first-out, (LIFO) or retail inventory methods as the costs of transitioning to a new method would outweigh the benefits due to the complexity of these methods. Under this ASU, inventory should be measured at the lower of cost and net realizable value (selling prices in the ordinary course of business less reasonably predictable costs of completion, disposal, and transportation). When the net realizable value of inventory is less than its cost, the difference will be recognized as a loss in earnings in the period in which it occurs. This ASU more closely aligns the measurement of inventory under GAAP with International Financial Reporting Standards guidance. The amendments are effective for public companies for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years, and for other entities, the amendments are effective for fiscal years beginning after December 15, 2016, and interim periods within fiscal years beginning after December 15, 2017. The amendments should be applied prospectively, and early application is permitted as of the beginning of an interim or annual reporting period.The Company is in the process of evaluating this accounting standard update. In May of 2014, the FASB issued Accounting Standard Update No. 2014-09 Revenue from Contracts with Customers ("ASU 2014-09"). ASU 2014-09 requires the use of a new five-step model to recognize revenue from customer contracts. The five-step model requires that the Company identify the contract with the customer, identify the performance obligations in the contract, determine the transaction price, allocate the transaction price to the performance obligations in the contract and recognize revenue when it satisfies the performance obligations. The Company will also be required to disclose information regarding the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. ASU 2014-09 is required to be adopted in January of 2018. Retrospective application is required either to all periods presented or with the cumulative effect of initial adoption recognized in the period of adoption. In addition, in March of 2016, the FASB issued Accounting Standard Update No. 2016-08 P rincipal versus Agent Considerations (Reporting Revenue Gross vs. Net) ("ASU 2016-08"). ASU 2016-08 amends the principal versus agent guidance in ASU 2014-09, and clarifies that the analysis must focus on whether the entity has control of the goods or services before they are transfered to the customer. ASU 2014-09 is required to be adopted in January of 2018. The Company is in the process of evaluating this accounting standard update.

Description of Business and S19

Description of Business and Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Components of Inventories	The components of inventories are as follows at: March 31, December 31, Raw materials $ 12,343 $ 12,389 Work in process 26,695 25,203 Finished goods (includes consigned inventory of $6,496 at March 31, 2016 and $6,513 at December 31, 2015) 38,727 40,058 Inventory allowances (6,399 ) (5,952 ) $ 71,366 $ 71,698
Changes in Warranty Liability	The table below represents the changes in the Company’s warranty liability for the three months ended March 31, 2016 and 2015: Beginning Balance Charged to Cost of Sales Effect of Foreign Currency Translation Deduction from Reserves Ending Balance Three Months Ended March 31, 2016: $ 2,175 $ 477 $ 34 $ (189 ) $ 2,497 Three Months Ended March 31, 2015: $ 2,685 $ 336 $ (118 ) $ (578 ) $ 2,325
Computation of Basic and Diluted Weighted-Average Shares	The following table sets forth the computation of basic and diluted weighted-average shares: Three Months ended March 31, 2016 2015 Weighted-average common shares outstanding–basic 15,789,991 15,560,995 Dilutive effect of stock-based compensation awards outstanding — 918,373 Weighted-average common shares outstanding–diluted 15,789,991 16,479,368
Schedule of Antidilutive Securities Excluded from Computation of Diluted Earnings Per Share	The following table sets forth the aggregate of the dilutive securities that were outstanding in the three ended March 31, 2016 and 2015, but were not included in the computation of diluted earnings per share because the impact would have been anti-dilutive: Three Months ended March 31, 2016 2015 Anti-dilutive securities 738,294 21,957

Derivatives and Hedging (Tables

Derivatives and Hedging (Tables)	3 Months Ended
	Mar. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments	The following represents the fair value of these derivatives at March 31, 2016 and December 31, 2015 and the change in fair value included in foreign exchange gain (loss) in the three months ended March 31, 2016 and 2015: March 31, 2016 December 31, 2015 Fair value of derivative asset (liability) $ 468 $ (1,188 ) Three Months Ended March 31, 2016: Three Months Ended March 31, 2015: Change in fair value of derivative included in foreign exchange loss $ 1,170 $ (2,059 )
Notional Amounts of Foreign Exchange Forward Contracts	The following represents the notional amounts of foreign exchange forward contracts at March 31, 2016 : Notional Sold Notional Purchased Non-designated hedges of foreign exchange risk $ 3,983 $ (49,902 )

Long-term Debt (Tables)

Long-term Debt (Tables)	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Schedule of Long Term Debt	At March 31, 2016 and December 31, 2015 , long term debt consisted of the following: March 31, 2016 December 31, 2015 Senior secured term loan facility, payable quarterly, U.S. Dollar denominated–LIBOR $ 223,424 $ 223,937 Senior Notes (Unsecured), payable semi-annually–U.S. Dollar denominated interest rate fixed at 8.875%. Matures June of 2018. 236,410 236,410 Notes payable, working capital loan, variable interest rate at 2.05%. Matures June 30, 2016, with one-year rollover option. 6,721 6,556 Fixed asset loan contract, variable interest rate of 5.78%. Matures June of 2020. 8,515 8,548 Other debt 4,116 6,278 Total debt 479,186 481,729 Less deferred financing costs (6,596 ) (7,293 ) Less current maturities of long term debt and notes payable (13,154 ) (11,966 ) Total long term debt $ 459,436 $ 462,470

Pensions, Other Post-retireme22

Pensions, Other Post-retirement and Post-employment Benefits (Tables)	3 Months Ended
	Mar. 31, 2016
Compensation and Retirement Disclosure [Abstract]
Components of Net Periodic Benefit Cost	As required by Topic 715, the following tables summarize the components of net periodic benefit cost: Defined Benefit Plans Three Months ended March 31, 2016 2015 Service cost $ 405 $ 842 Interest cost 1,485 1,670 Expected return on plan assets (1,548 ) (1,815 ) Amortization of net loss 558 755 Net periodic benefit cost $ 900 $ 1,452

Comprehensive Loss and Accumu23

Comprehensive Loss and Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
	Mar. 31, 2016
Equity [Abstract]
Components of Comprehensive Loss, Net of Tax	Comprehensive loss for the three months ended March 31, 2016 (net of tax expense of $67 ) and 2015 (net of tax expense of $851 ) is as follows: Three Months ended March 31, 2016 2015 Net (loss) income $ (1,445 ) $ 1,733 Foreign currency translation adjustments 8,460 (32,857 ) Pension liability changes under Topic 715 358 1,684 Change in value of derivative instruments — 42 Comprehensive income (loss) $ 7,373 $ (29,398 )
Components of Accumulated Other Comprehensive Loss	The components of accumulated other comprehensive loss for the three months ended March 31, 2016 are as follows (net of tax benefits of $6,954 ): Foreign Currency Translation Adjustment Pension Liability Changes Under Topic 715 Change in Value of Derivative Instruments Accumulated Other Comprehensive (Loss) Income Balance at December 31, 2015 $ (85,982 ) $ (35,759 ) $ 49 $ (121,692 ) Other comprehensive loss before reclassifications 8,460 — — 8,460 Amounts reclassified from other comprehensive loss Amortization of actuarial losses — 358 — 358 Net current period other comprehensive loss (income) 8,460 358 — 8,818 Balance at March 31, 2016 $ (77,522 ) $ (35,401 ) $ 49 $ (112,874 )

Restructuring and Impairment 24

Restructuring and Impairment Expense (Tables)	3 Months Ended
	Mar. 31, 2016
Restructuring and Related Activities [Abstract]
Restructuring Programs	The following table sets forth the significant components of the restructuring accrual (included in Accrued Expenses on our Consolidated Balance Sheet), including activity under restructuring programs for the three months ended March 31, 2016 and 2015: Balance at Charges Currency Cash Balance at Severance and other benefits $ 5,308 $ 1,390 $ 62 $ (1,804 ) $ 4,956 Facility costs and other 903 1,442 63 (1,871 ) 537 Total $ 6,211 $ 2,832 $ 125 $ (3,675 ) $ 5,493 Balance at Charges Currency Cash Balance at Severance and other benefits $ 4,880 $ 881 $ (243 ) $ (1,286 ) $ 4,232 Facility costs and other 818 1,343 (365 ) (1,796 ) — Total $ 5,698 $ 2,224 $ (608 ) $ (3,082 ) $ 4,232
Restructuring and Impairment Expense by Segment	Restructuring and impairment expense by segment, which is not included in Segment Earnings in Note 8, is as follows: Three Months Ended March 31, 2016 2015 Clothing $ 1,452 $ 2,092 Roll Covers 891 101 Corporate 489 31 Total $ 2,832 $ 2,224

Business Segment Information (T

Business Segment Information (Tables)	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Summarized Financial Information and Segment Earnings (Loss)	Summarized financial information for the Company’s reportable segments is presented in the tables that follow for the three months ended March 31, 2016 and 2015. Clothing Roll Corporate Total Three Months Ended March 31, 2016: Net Sales $ 71,337 $ 43,628 $ — $ 114,965 Segment Earnings (Loss) $ 18,638 $ 9,258 $ (3,937 ) $ 23,959 Three Months Ended March 31, 2015: Net Sales $ 77,284 $ 43,745 $ — $ 121,029 Segment Earnings (Loss) $ 21,766 8,091 (3,647 ) $ 26,210 Provided below is a reconciliation of Segment Earnings (Loss) to income before provision for income taxes for the three months ended March 31, 2016 and 2015, respectively. Three Months ended March 31, 2016 2015 Segment Earnings: Clothing $ 18,638 $ 21,766 Roll Covers 9,258 8,091 Corporate (3,937 ) (3,647 ) Stock-based compensation (592 ) (822 ) Interest expense, net (10,341 ) (9,664 ) Depreciation and amortization (7,994 ) (7,242 ) Restructuring expense (2,832 ) (2,224 ) Other non-recurring expense (103 ) — Plant startup costs (877 ) (750 ) Income before provision for income taxes $ 1,220 $ 5,508

Stock-Based Compensation and 26

Stock-Based Compensation and Stockholders' Deficit (Tables)	3 Months Ended
	Mar. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation Expense	The Company recorded stock-based compensation expense during the three months ended March 31, 2016 and March 31, 2015 as follows: Three Months ended March 31, 2016 2015 RSU, Options and DSU Awards (1) $ 592 $ 822 (1) Related to RSUs, Options and DSUs awarded to certain employees and non-employee directors.

Supplemental Guarantor Financ27

Supplemental Guarantor Financial Information (Tables)	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Consolidating Balance Sheet (Unaudited)	Xerium Technologies, Inc. Consolidating Balance Sheet—(Unaudited) At March 31, 2016 (Dollars in thousands) Parent Total Total Non Other The ASSETS Current assets: Cash and cash equivalents $ 2,062 $ (2 ) $ 13,390 $ — $ 15,450 Accounts receivable, net 575 17,742 53,857 — 72,174 Intercompany receivables (112,466 ) 118,426 (5,960 ) — — Inventories, net — 13,466 58,921 (1,021 ) 71,366 Prepaid expenses 1,383 1,160 4,847 — 7,390 Other current assets — 2,682 13,270 — 15,952 Total current assets (108,446 ) 153,474 138,325 (1,021 ) 182,332 Property and equipment, net 9,082 68,922 223,678 — 301,682 Investments 846,166 226,119 — (1,072,285 ) — Goodwill — 17,737 41,565 — 59,302 Intangible assets — 1,320 135 — 1,455 Non-current deferred tax asset — — 9,467 — 9,467 Other assets — — 10,358 — 10,358 Total assets $ 746,802 $ 467,572 $ 423,528 $ (1,073,306 ) $ 564,596 LIABILITIES AND STOCKHOLDERS’ (DEFICIT) EQUITY Current liabilities: Accounts payable $ 2,486 $ 10,523 $ 26,010 $ — $ 39,019 Accrued expenses 19,416 9,313 35,369 — 64,098 Notes payable — — 6,721 — 6,721 Current maturities of long-term debt 2,591 2,300 1,542 — 6,433 Total current liabilities 24,493 22,136 69,642 — 116,271 Long-term debt, net of current maturities 451,948 — 7,488 — 459,436 Liabilities under capital leases 3,208 5,513 9,416 — 18,137 Non-current deferred tax liability (1,342 ) 1,243 9,354 — 9,255 Pension, other post-retirement and post-employment obligations 19,460 2,998 41,264 — 63,722 Other long-term liabilities — — 3,898 — 3,898 Intercompany loans 343,403 (404,580 ) 61,177 — — Total stockholders’ (deficit) equity (94,368 ) 840,262 221,289 (1,073,306 ) (106,123 ) Total liabilities and stockholders’ equity $ 746,802 $ 467,572 $ 423,528 $ (1,073,306 ) $ 564,596 Xerium Technologies, Inc. Consolidating Balance Sheet At December 31, 2015 (Dollars in thousands) Parent Total Total Non Other The ASSETS Current assets: Cash and cash equivalents $ 3,105 $ (2 ) $ 6,736 $ — $ 9,839 Accounts receivable, net 20 18,585 49,957 — 68,562 Intercompany receivables (110,541 ) 113,736 (3,195 ) — — Inventories, net — 14,694 57,929 (925 ) 71,698 Prepaid expenses 510 1,330 4,809 — 6,649 Other current assets — 2,849 14,020 — 16,869 Total current assets (106,906 ) 151,192 130,256 (925 ) 173,617 Property and equipment, net 9,518 68,075 219,490 — 297,083 Investments 837,064 207,443 — (1,044,507 ) — Goodwill — 17,737 40,862 — 58,599 Intangible assets — 1,389 158 — 1,547 Non-current deferred tax asset — — 9,325 9,325 Other assets — — 10,203 — 10,203 Total assets $ 739,676 $ 445,836 $ 410,294 $ (1,045,432 ) $ 550,374 LIABILITIES AND STOCKHOLDERS’ (DEFICIT) EQUITY Current liabilities: Accounts payable $ 2,642 $ 11,100 $ 26,954 $ — $ 40,696 Accrued expenses 12,661 9,668 33,747 — 56,076 Notes payable — — 6,556 — 6,556 Current maturities of long-term debt 2,663 1,937 810 — 5,410 Total current liabilities 17,966 22,705 68,067 — 108,738 Long-term debt, net of current maturities 451,923 — 10,547 — 462,470 Liabilities under capital leases 3,276 4,425 1,036 — 8,737 Non-current deferred tax liability (1,515 ) 1,243 9,042 — 8,770 Pension, other post-retirement and post-employment obligations 19,950 2,619 41,037 — 63,606 Other long-term liabilities — — 11,123 — 11,123 Intercompany loans 341,412 (403,154 ) 61,742 — — Total stockholders’ (deficit) equity (93,336 ) 817,998 207,700 (1,045,432 ) (113,070 ) Total liabilities and stockholders’ (deficit) equity $ 739,676 $ 445,836 $ 410,294 $ (1,045,432 ) $ 550,374
Consolidating Statement of Operations and Comprehensive (Loss) Income (Unaudited)	Xerium Technologies, Inc. Consolidating Statement of Operations and Comprehensive (Loss) Income (Unaudited) For the three months ended March 31, 2016 (Dollars in thousands) Parent Total Total Non Other The Net sales $ — $ 40,588 $ 81,600 $ (7,223 ) $ 114,965 Costs and expenses: Cost of products sold — 28,296 50,259 (7,127 ) 71,428 Selling 305 5,011 10,405 — 15,721 General and administrative 2,691 923 7,893 — 11,507 Research and development 380 1,091 469 — 1,940 Restructuring 428 1,028 1,376 — 2,832 3,804 36,349 70,402 (7,127 ) 103,428 (Loss) income from operations (3,804 ) 4,239 11,198 (96 ) 11,537 Interest (expense) income, net (9,714 ) 517 (1,144 ) — (10,341 ) Foreign exchange gain (loss) 17 (54 ) 61 — 24 Equity in subsidiaries income 9,102 7,804 — (16,906 ) — Dividend income 3,145 — — (3,145 ) — (Loss) income before provision for income taxes (1,254 ) 12,506 10,115 (20,147 ) 1,220 Provision for income taxes (191 ) (2 ) (2,472 ) — (2,665 ) Net (loss) income $ (1,445 ) $ 12,504 $ 7,643 $ (20,147 ) $ (1,445 ) Comprehensive (loss) income $ (606 ) $ 12,494 $ 15,632 $ (20,147 ) $ 7,373 Xerium Technologies, Inc. Consolidating Statement of Operations and Comprehensive Income (Loss)-(Unaudited) For the three months ended March 31, 2015 (Dollars in thousands) Parent Total Total Non Other The Net sales $ — $ 42,850 $ 81,688 $ (3,509 ) $ 121,029 Costs and expenses: Cost of products sold (348 ) 29,378 46,860 (3,414 ) 72,476 Selling 268 4,801 11,257 — 16,326 General and administrative 2,828 1,411 9,607 — 13,846 Research and development 232 1,196 534 — 1,962 Restructuring 7,952 175 (5,903 ) — 2,224 10,932 36,961 62,355 (3,414 ) 106,834 (Loss) income from operations (10,932 ) 5,889 19,333 (95 ) 14,195 Interest (expense) income, net (9,399 ) 1,160 (1,425 ) — (9,664 ) Foreign exchange gain (loss) 213 (141 ) 905 — 977 Dividend income 700 — — (700 ) — Equity in subsidiaries income 21,669 6,623 — (28,292 ) — Income before provision for income taxes 2,251 13,531 18,813 (29,087 ) 5,508 Provision for income taxes (518 ) (29 ) (3,228 ) — (3,775 ) Net income $ 1,733 $ 13,502 $ 15,585 $ (29,087 ) $ 1,733 Comprehensive income (loss) $ 1,631 $ 14,143 $ (16,085 ) $ (29,087 ) $ (29,398 )
Consolidating Statement of Cash Flows (Unaudited)	Xerium Technologies, Inc. Consolidating Statement of Cash Flows-(Unaudited) For the three months ended March 31, 2016 (Dollars in thousands) Parent Total Total Non Other The Operating activities Net (loss) income $ (1,445 ) $ 12,504 $ 7,643 $ (20,147 ) $ (1,445 ) Adjustments to reconcile net income to net cash (used in) provided by operating activities: Stock-based compensation 603 — (11 ) — 592 Depreciation 555 2,053 5,292 — 7,900 Amortization of intangibles — 69 25 — 94 Deferred financing cost amortization 732 — 24 — 756 Foreign exchange gain on revaluation of debt 1,120 — — — 1,120 Deferred taxes 173 — (18 ) — 155 Loss on disposition of property and equipment — — 17 — 17 Provision for doubtful accounts — — (72 ) — (72 ) Undistributed equity in earnings of subsidiaries (9,102 ) (7,804 ) — 16,906 — Change in assets and liabilities which provided (used) cash: Accounts receivable (555 ) 842 (2,417 ) — (2,130 ) Inventories — 1,229 907 96 2,232 Prepaid expenses (872 ) 170 81 — (621 ) Other current assets — 167 857 — 1,024 Accounts payable and accrued expenses 5,430 (932 ) (838 ) — 3,660 Deferred and other long-term liabilities 3 379 410 — 792 Intercompany loans 1,925 (4,721 ) 2,796 — — Net cash (used in) provided by operating activities (1,433 ) 3,956 14,696 (3,145 ) 14,074 Investing activities Capital expenditures (117 ) (938 ) (2,495 ) — (3,550 ) Intercompany property and equipment transfers, net (2 ) 2 — — — Proceeds from disposals of property and equipment — 5 15 — 20 Net cash used in investing activities (119 ) (931 ) (2,480 ) — (3,530 ) Financing activities — Proceeds from borrowings 10,992 — 2,321 — 13,313 Principal payments on debt (11,547 ) — (4,892 ) — (16,439 ) Dividends paid — (3,145 ) — 3,145 — Payment of obligations under capital leases (67 ) (517 ) (89 ) — (673 ) Payment of financing fees (116 ) — 18 — (98 ) Intercompany loans 1,247 637 (1,884 ) — — Net cash provided by (used in) financing activities 509 (3,025 ) (4,526 ) 3,145 (3,897 ) Effect of exchange rate changes on cash flows — — (1,036 ) — (1,036 ) Net (decrease) increase in cash (1,043 ) — 6,654 — 5,611 Cash and cash equivalents at beginning of period 3,105 (2 ) 6,736 — 9,839 Cash and cash equivalents at end of period $ 2,062 $ (2 ) $ 13,390 $ — $ 15,450 Xerium Technologies, Inc. Consolidating Statement of Cash Flows (Unaudited) For the three months ended March 31, 2015 (Dollars in Thousands) Parent Total Total Non Other The Operating activities Net income (loss) $ 1,733 $ 13,502 $ 15,585 $ (29,087 ) $ 1,733 Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities: Stock-based compensation 752 — 70 — 822 Depreciation 361 1,719 5,083 — 7,163 Amortization of intangibles — 69 10 — 79 Deferred financing cost amortization 852 — 23 — 875 Foreign exchange gain on revaluation of debt (1,973 ) — — — (1,973 ) Deferred taxes 511 — 468 — 979 Loss (gain) on disposition of property and equipment — 25 (11 ) — 14 Provision for doubtful accounts — 49 423 — 472 Undistributed equity in earnings of subsidiaries (21,669 ) (6,623 ) — 28,292 — Change in assets and liabilities which provided (used) cash: Accounts receivable (47 ) 231 (776 ) — (592 ) Inventories — 1,047 294 95 1,436 Prepaid expenses (1,328 ) 543 810 — 25 Other current assets — 326 (2,005 ) — (1,679 ) Accounts payable and accrued expenses 5,618 (947 ) (2,453 ) — 2,218 Deferred and other long-term liabilities (42 ) 347 (3,876 ) — (3,571 ) Intercompany loans (4,290 ) (3,343 ) 7,633 — — Net cash (used in) provided by operating activities (19,522 ) 6,945 21,278 (700 ) 8,001 Investing activities Capital expenditures (4,697 ) (1,103 ) (6,355 ) — (12,155 ) Intercompany property and equipment transfers, net — 191 (191 ) — — Proceeds from disposals of property and equipment — 26 6 — 32 Net cash (used in) provided by investing activities (4,697 ) (886 ) (6,540 ) — (12,123 ) Financing activities — Net increase in notes payable — — 3,526 3,526 Proceeds from borrowings 13,516 — 5,526 — 19,042 Principal payments on debt (14,059 ) — (4,272 ) — (18,331 ) Dividends paid — (700 ) 700 — Payments of obligations under capitalized leases (161 ) (101 ) (3 ) — (265 ) Payment of deferred financing fees (34 ) — 9 — (25 ) Intercompany loans 19,587 (5,258 ) (14,329 ) — — Other financing activities 5,500 — (5,500 ) — Net cash provided by (used in) financing activities 24,349 (6,059 ) (15,043 ) 700 3,947 Effect of exchange rate changes on cash flows — — (516 ) — (516 ) Net (decrease) increase in cash 130 — (821 ) — (691 ) Cash and cash equivalents at beginning of period 605 (14 ) 8,926 — 9,517 Cash and cash equivalents at end of period $ 735 $ (14 ) $ 8,105 $ — $ 8,826

Description of Business and S28

Description of Business and Significant Accounting Policies - Components of Inventories (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Raw materials	$ 12,343	$ 12,389
Work in process	26,695	25,203
Finished goods (includes consigned inventory of $6,496 at March 31, 2016 and $6,513 at December 31, 2015)	38,727	40,058
Inventory allowances	(6,399)	(5,952)
Inventories, net	71,366	71,698
Consigned inventory	$ 6,496	$ 6,513

Description of Business and S29

Description of Business and Significant Accounting Policies - Changes In Warranty Liability (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Warranties, Increase (Decrease)
Beginning Balance	$ 2,175	$ 2,685
Charged to Cost of Sales	477	336
Effect of Foreign Currency Translation	34	(118)
Deduction from Reserves	(189)	(578)
Ending Balance	$ 2,497	$ 2,325

Description of Business and S30

Description of Business and Significant Accounting Policies - Net (Loss) Income (Loss) Per Common Share (Detail) - shares	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Weighted-average common shares outstanding–basic (in shares)	15,789,991	15,560,995
Dilutive effect of stock-based compensation awards outstanding (in shares)	0	918,373
Weighted-average common shares outstanding–diluted (in shares)	15,789,991	16,479,368
Anti-dilutive securities (in shares)	738,294	21,957

Description of Business and S31

Description of Business and Significant Accounting Policies - Additional Information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Restructuring Expense
Restructuring Cost and Reserve [Line Items]
Asset impairment	$ 0	$ 0

Derivatives and Hedging - Narra

Derivatives and Hedging - Narrative (Details)	Mar. 31, 2016derivative_instrument
Designated as Hedging Instrument | Interest Rate Swap
Derivative [Line Items]
Number of derivative instruments	0

Derivatives and Hedging - Sched

Derivatives and Hedging - Schedule of Derivative Instruments (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Derivative [Line Items]
Change in fair value of derivative included in foreign exchange loss	$ 1,170	$ (2,059)
Not Designated as Hedging Instrument | Foreign Exchange Forward Contracts
Derivative [Line Items]
Fair value of derivative asset (liability)	$ 468		$ (1,188)

Derivatives and Hedging - Notio

Derivatives and Hedging - Notional Amounts of Foreign Exchange Forward Contracts (Detail) - Not Designated as Hedging Instrument - Foreign Exchange Forward Contracts $ in Thousands	Mar. 31, 2016USD ($)
Notional Sold
Derivative [Line Items]
Non-designated hedges of foreign exchange risk	$ (3,983)
Notional Purchased
Derivative [Line Items]
Non-designated hedges of foreign exchange risk	$ (49,902)

Long term Debt - Schedule of Lo

Long term Debt - Schedule of Long Term Debt (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015	May. 17, 2013
Debt Instrument [Line Items]
Long-term debt	$ 466,000
Notes payable	6,721	$ 6,556
Total debt	479,186	481,729
Less deferred financing costs	(6,596)	(7,293)
Less current maturities of long term debt and notes payable	(13,154)	(11,966)
Total long term debt	459,436	462,470
Other Debt
Debt Instrument [Line Items]
Long-term debt	$ 4,116	$ 6,278
Notes Payable
Debt Instrument [Line Items]
Debt instrument variable interest rate (percent)	2.05%	2.05%
Rollover option period (years)	1 year	1 year
Notes Payable | Working Capital Loan
Debt Instrument [Line Items]
Notes payable	$ 6,721	$ 6,556
Senior Secured Term Loan Facility | Senior Secured Term Loan Facility, Payable Quarterly, US Dollar Denominated, Matures May 2019
Debt Instrument [Line Items]
Long-term debt	$ 223,424	$ 223,937
Debt instrument interest rate (percent)	6.25%	6.25%
Debt discount	$ 600	$ 600	$ 1,000
Senior Secured Term Loan Facility | Senior Secured Term Loan Facility, Payable Quarterly, US Dollar Denominated, Matures May 2019 | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Debt Instrument, minimum variable rate basis (percent)	1.25%	1.25%
Debt instrument, basis spread on variable rate (percent)	5.00%	5.00%
Senior Notes (Unsecured) | Senior Notes Unsecured, Payable Semi Annually, US Dollar Denominated Interest Rate Fixed at 8.875%, Matures June 2018
Debt Instrument [Line Items]
Long-term debt	$ 236,410	$ 236,410
Debt instrument fixed interest rate (percent)	8.875%	8.875%
Capital Lease Obligations | Fixed Asset Loan Contract
Debt Instrument [Line Items]
Fixed asset loan	$ 8,515	$ 8,548
Debt instrument interest rate (percent)	5.78%	5.78%

Long term Debt - Additional Inf

Long term Debt - Additional Information (Detail)	Mar. 31, 2016USD ($)	Jul. 17, 2015USD ($)	Aug. 18, 2014USD ($)	Apr. 30, 2016USD ($)	Mar. 31, 2016USD ($)	Mar. 31, 2015USD ($)	Dec. 31, 2015USD ($)	Nov. 03, 2015USD ($)	Jul. 17, 2015CNY (¥)	Mar. 03, 2014USD ($)	May. 17, 2013USD ($)
Debt Instrument [Line Items]
Proceeds from borrowings					$ 13,313,000	$ 19,042,000
Carrying value of long-term debt	$ 466,000,000				466,000,000
Fair value of long-term debt	419,200,000				419,200,000
Liabilities under capital leases	18,137,000				18,137,000		$ 8,737,000
Credit Facility and Notes
Debt Instrument [Line Items]
Debt discount	600,000				600,000
Carrying value of long-term debt	459,800,000				459,800,000
Senior Secured Term Loan Facility, Payable Quarterly, US Dollar Denominated, Matures May 2019 | Secured Debt
Debt Instrument [Line Items]
Debt instrument, face amount											$ 200,000,000
Debt discount	$ 600,000				$ 600,000		$ 600,000				1,000,000
Debt instrument interest rate (percent)	6.25%				6.25%		6.25%
Proceeds from borrowings			$ 30,000,000
Carrying value of long-term debt	$ 223,424,000				$ 223,424,000		$ 223,937,000
ABL Secured Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Current borrowing capacity								$ 55,000,000		$ 55,000,000	$ 40,000,000
Debt instrument interest rate (percent)	4.50%				4.50%
Debt instrument, basis spread on variable rate (percent)					0.75%
Debt instrument, covenant compliance, maximum annual capital expenditures (in excess of)					$ 42,000,000
Remaining borrowing capacity	$ 33,900,000				33,900,000
Amount outstanding	36,900,000				36,900,000
ABL Secured Facility | Letter of Credit
Debt Instrument [Line Items]
Amount outstanding	$ 3,000,000				$ 3,000,000
Xerium China Loan Agreement | Secured Debt
Debt Instrument [Line Items]
Debt instrument, face amount		$ 9,400,000							¥ 58,500,000
Interest rate adjustment period (months)		12 months
Frequency of principal payment (months)		6 months
Brazil | Foreign Tax Authority | Senior Secured Term Loan Facility, Payable Quarterly, US Dollar Denominated, Matures May 2019 | Secured Debt
Debt Instrument [Line Items]
Proceeds from borrowings			$ 30,000,000
Benchmark Rate | Xerium China Loan Agreement | Secured Debt
Debt Instrument [Line Items]
Interest rate during period (percent)	5.80%
Subsequent Event
Debt Instrument [Line Items]
Proceeds from sale leaseback transactions				$ 6

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Income Taxes [Line Items]
Provision for income taxes	$ 2,665	$ 3,775
Net earnings required to recognize deferred tax asset, minimum	30,000
Net earnings required to recognize deferred tax asset, maximum	120,000
Gross unrecognized tax benefit	7,791
Increase in unrecognized tax benefits	264
Unrecognized tax benefits related to income tax matters and income tax expense	$ 40
Minimum
Income Taxes [Line Items]
Statutory income tax rate in foreign countries (percent)	15.00%
Maximum
Income Taxes [Line Items]
Statutory income tax rate in foreign countries (percent)	35.36%

Pensions, Other Post-retireme38

Pensions, Other Post-retirement and Post-employment Benefits - Components of Net Periodic Benefit Cost (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Pensions, Other Post-Retirement And Post-Employment Benefits [Abstract]
Service cost	$ 405	$ 842
Interest cost	1,485	1,670
Expected return on plan assets	(1,548)	(1,815)
Amortization of net loss	558	755
Net periodic benefit cost	$ 900	$ 1,452

Comprehensive Loss and Accumu39

Comprehensive Loss and Accumulated Other Comprehensive Loss - Components of Comprehensive Loss, Net of Tax (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Comprehensive Income Loss and Accumulated Other Comprehensive Income (Loss) [Abstract]
Other comprehensive loss, tax (benefit) expense	$ 67	$ 851
Net (loss) income	(1,445)	1,733
Foreign currency translation adjustments	8,460	(32,857)
Pension liability changes under Topic 715	358	1,684
Change in value of derivative instruments	0	42
Comprehensive income (loss)	$ 7,373	$ (29,398)

Comprehensive Loss and Accumu40

Comprehensive Loss and Accumulated Other Comprehensive Loss - Components of Accumulated Other Comprehensive Loss (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss, tax benefit	$ 6,954
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at beginning	(113,070)
Amounts reclassified from other comprehensive loss
Balance at end	(106,123)
Foreign Currency Translation Adjustment
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at beginning	(85,982)
Other comprehensive loss before reclassifications	8,460
Amounts reclassified from other comprehensive loss
Amortization of actuarial losses	0
Net current period other comprehensive (loss) income	8,460
Balance at end	(77,522)
Pension Liability Changes Under Topic 715
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at beginning	(35,759)
Other comprehensive loss before reclassifications	0
Amounts reclassified from other comprehensive loss
Amortization of actuarial losses	358
Net current period other comprehensive (loss) income	358
Balance at end	(35,401)
Change in Value of Derivative Instruments
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at beginning	49
Other comprehensive loss before reclassifications	0
Amounts reclassified from other comprehensive loss
Amortization of actuarial losses	0
Net current period other comprehensive (loss) income	0
Balance at end	49
Accumulated Other Comprehensive (Loss) Income
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at beginning	(121,692)
Other comprehensive loss before reclassifications	8,460
Amounts reclassified from other comprehensive loss
Amortization of actuarial losses	358
Net current period other comprehensive (loss) income	8,818
Balance at end	$ (112,874)

Restructuring and Impairment 41

Restructuring and Impairment Expense - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Restructuring Cost and Reserve [Line Items]
Restructuring	$ 2,832	$ 2,224
Headcount Reductions
Restructuring Cost and Reserve [Line Items]
Restructuring	2,100	900
Clothing Facility | Middletown VA Facility | Facility Closing
Restructuring Cost and Reserve [Line Items]
Restructuring	$ 700
Clothing Facility | Brazil Facility | Facility Closing
Restructuring Cost and Reserve [Line Items]
Restructuring		$ 1,300

Restructuring and Impairment 42

Restructuring and Impairment Expense - Restructuring Programs (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Restructuring Reserve
Beginning Balance	$ 6,211	$ 5,698
Charges	2,832	2,224
Currency Effects	125	(608)
Cash Payments	(3,675)	(3,082)
Ending Balance	5,493	4,232
Severance and other benefits
Restructuring Reserve
Beginning Balance	5,308	4,880
Charges	1,390	881
Currency Effects	62	(243)
Cash Payments	(1,804)	(1,286)
Ending Balance	4,956	4,232
Facility costs and other
Restructuring Reserve
Beginning Balance	903	818
Charges	1,442	1,343
Currency Effects	63	(365)
Cash Payments	(1,871)	(1,796)
Ending Balance	$ 537	$ 0

Restructuring and Impairment 43

Restructuring and Impairment Expense - Restructuring and Impairment Expense by Segment (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Restructuring Cost and Reserve [Line Items]
Restructuring	$ 2,832	$ 2,224
Operating Segments | Clothing
Restructuring Cost and Reserve [Line Items]
Restructuring	1,452	2,092
Operating Segments | Roll Covers
Restructuring Cost and Reserve [Line Items]
Restructuring	891	101
Corporate
Restructuring Cost and Reserve [Line Items]
Restructuring	$ 489	$ 31

Business Segment Information -

Business Segment Information - Additional Information (Details)	3 Months Ended
	Mar. 31, 2016segment
Segment Reporting [Abstract]
Number of reportable segments	2

Business Segment Information 45

Business Segment Information - Summarized Financial Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Segment Reporting Information [Line Items]
Net Sales	$ 114,965	$ 121,029
Segment Earnings (Loss)	23,959	26,210
Operating Segments | Clothing
Segment Reporting Information [Line Items]
Net Sales	71,337	77,284
Segment Earnings (Loss)	18,638	21,766
Operating Segments | Roll Covers
Segment Reporting Information [Line Items]
Net Sales	43,628	43,745
Segment Earnings (Loss)	9,258	8,091
Corporate
Segment Reporting Information [Line Items]
Net Sales	0	0
Segment Earnings (Loss)	$ (3,937)	$ (3,647)

Business Segment Information 46

Business Segment Information - Reconciliation of Segment Earnings (Loss) To Income Before Provision For Income Taxes (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Segment Earnings (Loss):
Segment Earnings (Loss)	$ 23,959	$ 26,210
Stock-based compensation	(592)	(822)
Interest expense, net	(10,341)	(9,664)
Depreciation and amortization	(7,994)	(7,242)
Restructuring expense	(2,832)	(2,224)
Other non-recurring expense	(103)	0
Plant startup costs	(877)	(750)
Income before provision for income taxes	1,220	5,508
Operating Segments | Clothing
Segment Earnings (Loss):
Segment Earnings (Loss)	18,638	21,766
Restructuring expense	(1,452)	(2,092)
Operating Segments | Roll Covers
Segment Earnings (Loss):
Segment Earnings (Loss)	9,258	8,091
Restructuring expense	(891)	(101)
Corporate
Segment Earnings (Loss):
Segment Earnings (Loss)	(3,937)	(3,647)
Restructuring expense	$ (489)	$ (31)

Stock-Based Compensation and 47

Stock-Based Compensation and Stockholders' Deficit - Stock-Based Compensation Expense (Detail) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2016	Mar. 31, 2015
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock compensation expense		$ 592	$ 822
RSU, Options and DSU Awards
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock compensation expense	[1]	$ 592	$ 822
[1]	Related to RSUs, Options and DSUs awarded to certain employees and non-employee directors.

Stock-Based Compensation and 48

Stock-Based Compensation and Stockholders' Deficit - Additional Information (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Mar. 15, 2016	Mar. 31, 2016	Mar. 31, 2016	Mar. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation expense				$ 592	$ 822
2015 - 2014 LTIP | Market-Based Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of award payout	0.00%
Stock compensation expense	$ (200)
2011 DSU Plan | Deferred Stock Unit (DSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual retainer per director				$ 132
Shares issued				21,938,000
Common Stock | 2013 LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Conversion of stock, shares converted		207,385
Common Stock | 2011 DSU Plan | Deferred Stock Unit (DSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued				18,524,000
Director [Member] | Common Stock | Deferred Stock Unit (DSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued			22,234

Supplemental Guarantor Financ49

Supplemental Guarantor Financial Information - Consolidating Balance Sheet (Unaudited) (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 15,450	$ 9,839	$ 8,826	$ 9,517
Accounts receivable, net	72,174	68,562
Intercompany receivables	0	0
Inventories, net	71,366	71,698
Prepaid expenses	7,390	6,649
Other current assets	15,952	16,869
Total current assets	182,332	173,617
Property and equipment, net	301,682	297,083
Investments	0	0
Goodwill	59,302	58,599
Intangible assets	1,455	1,547
Non-current deferred tax asset	9,467	9,325
Other assets	10,358	10,203
Total assets	564,596	550,374
Current liabilities:
Accounts payable	39,019	40,696
Accrued expenses	64,098	56,076
Notes payable	6,721	6,556
Current maturities of long-term debt	6,433	5,410
Total current liabilities	116,271	108,738
Long-term debt, net of current maturities	459,436	462,470
Liabilities under capital leases	18,137	8,737
Non-current deferred tax liability	9,255	8,770
Pension, other post-retirement and post-employment obligations	63,722	63,606
Other long-term liabilities	3,898	11,123
Intercompany loans	0	0
Total stockholders’ (deficit) equity	(106,123)	(113,070)
Total liabilities and stockholders’ deficit	564,596	550,374
Parent
Current assets:
Cash and cash equivalents	2,062	3,105	735	605
Accounts receivable, net	575	20
Intercompany receivables	(112,466)	(110,541)
Inventories, net	0	0
Prepaid expenses	1,383	510
Other current assets	0	0
Total current assets	(108,446)	(106,906)
Property and equipment, net	9,082	9,518
Investments	846,166	837,064
Goodwill	0	0
Intangible assets	0	0
Non-current deferred tax asset	0	0
Other assets	0	0
Total assets	746,802	739,676
Current liabilities:
Accounts payable	2,486	2,642
Accrued expenses	19,416	12,661
Notes payable	0	0
Current maturities of long-term debt	2,591	2,663
Total current liabilities	24,493	17,966
Long-term debt, net of current maturities	451,948	451,923
Liabilities under capital leases	3,208	3,276
Non-current deferred tax liability	(1,342)	(1,515)
Pension, other post-retirement and post-employment obligations	19,460	19,950
Other long-term liabilities	0	0
Intercompany loans	343,403	341,412
Total stockholders’ (deficit) equity	(94,368)	(93,336)
Total liabilities and stockholders’ deficit	746,802	739,676
Total Guarantors
Current assets:
Cash and cash equivalents	(2)	(2)	(14)	(14)
Accounts receivable, net	17,742	18,585
Intercompany receivables	118,426	113,736
Inventories, net	13,466	14,694
Prepaid expenses	1,160	1,330
Other current assets	2,682	2,849
Total current assets	153,474	151,192
Property and equipment, net	68,922	68,075
Investments	226,119	207,443
Goodwill	17,737	17,737
Intangible assets	1,320	1,389
Non-current deferred tax asset	0	0
Other assets	0	0
Total assets	467,572	445,836
Current liabilities:
Accounts payable	10,523	11,100
Accrued expenses	9,313	9,668
Notes payable	0	0
Current maturities of long-term debt	2,300	1,937
Total current liabilities	22,136	22,705
Long-term debt, net of current maturities	0	0
Liabilities under capital leases	5,513	4,425
Non-current deferred tax liability	1,243	1,243
Pension, other post-retirement and post-employment obligations	2,998	2,619
Other long-term liabilities	0	0
Intercompany loans	(404,580)	(403,154)
Total stockholders’ (deficit) equity	840,262	817,998
Total liabilities and stockholders’ deficit	467,572	445,836
Total Non Guarantors
Current assets:
Cash and cash equivalents	13,390	6,736	8,105	8,926
Accounts receivable, net	53,857	49,957
Intercompany receivables	(5,960)	(3,195)
Inventories, net	58,921	57,929
Prepaid expenses	4,847	4,809
Other current assets	13,270	14,020
Total current assets	138,325	130,256
Property and equipment, net	223,678	219,490
Investments	0	0
Goodwill	41,565	40,862
Intangible assets	135	158
Non-current deferred tax asset	9,467	9,325
Other assets	10,358	10,203
Total assets	423,528	410,294
Current liabilities:
Accounts payable	26,010	26,954
Accrued expenses	35,369	33,747
Notes payable	6,721	6,556
Current maturities of long-term debt	1,542	810
Total current liabilities	69,642	68,067
Long-term debt, net of current maturities	7,488	10,547
Liabilities under capital leases	9,416	1,036
Non-current deferred tax liability	9,354	9,042
Pension, other post-retirement and post-employment obligations	41,264	41,037
Other long-term liabilities	3,898	11,123
Intercompany loans	61,177	61,742
Total stockholders’ (deficit) equity	221,289	207,700
Total liabilities and stockholders’ deficit	423,528	410,294
Other Eliminations
Current assets:
Cash and cash equivalents	0	0	$ 0	$ 0
Accounts receivable, net	0	0
Intercompany receivables	0	0
Inventories, net	(1,021)	(925)
Prepaid expenses	0	0
Other current assets	0	0
Total current assets	(1,021)	(925)
Property and equipment, net	0	0
Investments	(1,072,285)	(1,044,507)
Goodwill	0	0
Intangible assets	0	0
Non-current deferred tax asset	0
Other assets	0	0
Total assets	(1,073,306)	(1,045,432)
Current liabilities:
Accounts payable	0	0
Accrued expenses	0	0
Notes payable	0	0
Current maturities of long-term debt	0	0
Total current liabilities	0	0
Long-term debt, net of current maturities	0	0
Liabilities under capital leases	0	0
Non-current deferred tax liability	0	0
Pension, other post-retirement and post-employment obligations	0	0
Other long-term liabilities	0	0
Intercompany loans	0	0
Total stockholders’ (deficit) equity	(1,073,306)	(1,045,432)
Total liabilities and stockholders’ deficit	$ (1,073,306)	$ (1,045,432)

Supplemental Guarantor Financ50

Supplemental Guarantor Financial Information - Consolidating Statement of Operations and Comprehensive (Loss) Income (Unaudited) (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Condensed Income Statements, Captions [Line Items]
Net Sales	$ 114,965	$ 121,029
Costs and expenses:
Cost of products sold	71,428	72,476
Selling	15,721	16,326
General and administrative	11,507	13,846
Research and development	1,940	1,962
Restructuring	2,832	2,224
Costs and expenses	103,428	106,834
Income from operations	11,537	14,195
Interest (expense) income, net	(10,341)	(9,664)
Foreign exchange gain	24	977
Equity in subsidiaries income	0	0
Dividend income	0	0
Income before provision for income taxes	1,220	5,508
Provision for income taxes	(2,665)	(3,775)
Net (loss) income	(1,445)	1,733
Comprehensive income (loss)	7,373	(29,398)
Parent
Condensed Income Statements, Captions [Line Items]
Net Sales	0	0
Costs and expenses:
Cost of products sold	0	(348)
Selling	305	268
General and administrative	2,691	2,828
Research and development	380	232
Restructuring	428	7,952
Costs and expenses	3,804	10,932
Income from operations	(3,804)	(10,932)
Interest (expense) income, net	(9,714)	(9,399)
Foreign exchange gain	17	213
Equity in subsidiaries income	9,102	21,669
Dividend income	3,145	700
Income before provision for income taxes	(1,254)	2,251
Provision for income taxes	(191)	(518)
Net (loss) income	(1,445)	1,733
Comprehensive income (loss)	(606)	1,631
Total Guarantors
Condensed Income Statements, Captions [Line Items]
Net Sales	40,588	42,850
Costs and expenses:
Cost of products sold	28,296	29,378
Selling	5,011	4,801
General and administrative	923	1,411
Research and development	1,091	1,196
Restructuring	1,028	175
Costs and expenses	36,349	36,961
Income from operations	4,239	5,889
Interest (expense) income, net	517	1,160
Foreign exchange gain	(54)	(141)
Equity in subsidiaries income	7,804	6,623
Dividend income	0	0
Income before provision for income taxes	12,506	13,531
Provision for income taxes	(2)	(29)
Net (loss) income	12,504	13,502
Comprehensive income (loss)	12,494	14,143
Total Non Guarantors
Condensed Income Statements, Captions [Line Items]
Net Sales	81,600	81,688
Costs and expenses:
Cost of products sold	50,259	46,860
Selling	10,405	11,257
General and administrative	7,893	9,607
Research and development	469	534
Restructuring	1,376	(5,903)
Costs and expenses	70,402	62,355
Income from operations	11,198	19,333
Interest (expense) income, net	(1,144)	(1,425)
Foreign exchange gain	61	905
Equity in subsidiaries income	0	0
Dividend income	0	0
Income before provision for income taxes	10,115	18,813
Provision for income taxes	(2,472)	(3,228)
Net (loss) income	7,643	15,585
Comprehensive income (loss)	15,632	(16,085)
Other Eliminations
Condensed Income Statements, Captions [Line Items]
Net Sales	(7,223)	(3,509)
Costs and expenses:
Cost of products sold	(7,127)	(3,414)
Selling	0	0
General and administrative	0	0
Research and development	0	0
Restructuring	0	0
Costs and expenses	(7,127)	(3,414)
Income from operations	(96)	(95)
Interest (expense) income, net	0	0
Foreign exchange gain	0	0
Equity in subsidiaries income	(16,906)	(28,292)
Dividend income	(3,145)	(700)
Income before provision for income taxes	(20,147)	(29,087)
Provision for income taxes	0	0
Net (loss) income	(20,147)	(29,087)
Comprehensive income (loss)	$ (20,147)	$ (29,087)

Supplemental Guarantor Financ51

Supplemental Guarantor Financial Information - Consolidating Statement of Cash Flows (Unaudited) (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Operating activities
Net (loss) income	$ (1,445)	$ 1,733
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Stock-based compensation	592	822
Depreciation	7,900	7,163
Amortization of intangibles	94	79
Deferred financing cost amortization	756	875
Foreign exchange gain on revaluation of debt	1,120	(1,973)
Deferred taxes	155	979
Loss on disposition of property and equipment	17	14
Provision for doubtful accounts	(72)	472
Undistributed equity in earnings of subsidiaries	0	0
Change in assets and liabilities which provided (used) cash:
Accounts receivable	(2,130)	(592)
Inventories	2,232	1,436
Prepaid expenses	(621)	25
Other current assets	1,024	(1,679)
Accounts payable and accrued expenses	3,660	2,218
Deferred and other long-term liabilities	792	(3,571)
Intercompany loans	0	0
Net cash provided by operating activities	14,074	8,001
Investing activities
Capital expenditures	(3,550)	(12,155)
Intercompany property and equipment transfers, net	0	0
Proceeds from disposals of property and equipment	20	32
Net cash used in investing activities	(3,530)	(12,123)
Financing activities
Net increase in notes payable		3,526
Proceeds from borrowings	13,313	19,042
Principal payments on debt	(16,439)	(18,331)
Dividends paid	0	0
Payment of obligations under capital leases	(673)	(265)
Payment of financing fees	(98)	(25)
Intercompany loans	0	0
Other financing activities		0
Net cash (used in) provided by financing activities	(3,897)	3,947
Effect of exchange rate changes on cash flows	(1,036)	(516)
Net increase (decrease) in cash	5,611	(691)
Cash and cash equivalents at beginning of period	9,839	9,517
Cash and cash equivalents at end of period	15,450	8,826
Parent
Operating activities
Net (loss) income	(1,445)	1,733
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Stock-based compensation	603	752
Depreciation	555	361
Amortization of intangibles	0	0
Deferred financing cost amortization	732	852
Foreign exchange gain on revaluation of debt	1,120	(1,973)
Deferred taxes	173	511
Loss on disposition of property and equipment	0	0
Provision for doubtful accounts	0	0
Undistributed equity in earnings of subsidiaries	(9,102)	(21,669)
Change in assets and liabilities which provided (used) cash:
Accounts receivable	(555)	(47)
Inventories	0	0
Prepaid expenses	(872)	(1,328)
Other current assets	0	0
Accounts payable and accrued expenses	5,430	5,618
Deferred and other long-term liabilities	3	(42)
Intercompany loans	1,925	(4,290)
Net cash provided by operating activities	(1,433)	(19,522)
Investing activities
Capital expenditures	(117)	(4,697)
Intercompany property and equipment transfers, net	(2)	0
Proceeds from disposals of property and equipment	0	0
Net cash used in investing activities	(119)	(4,697)
Financing activities
Net increase in notes payable		0
Proceeds from borrowings	10,992	13,516
Principal payments on debt	(11,547)	(14,059)
Dividends paid	0	0
Payment of obligations under capital leases	(67)	(161)
Payment of financing fees	(116)	(34)
Intercompany loans	1,247	19,587
Other financing activities		5,500
Net cash (used in) provided by financing activities	509	24,349
Effect of exchange rate changes on cash flows	0	0
Net increase (decrease) in cash	(1,043)	130
Cash and cash equivalents at beginning of period	3,105	605
Cash and cash equivalents at end of period	2,062	735
Total Guarantors
Operating activities
Net (loss) income	12,504	13,502
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Stock-based compensation	0	0
Depreciation	2,053	1,719
Amortization of intangibles	69	69
Deferred financing cost amortization	0	0
Foreign exchange gain on revaluation of debt	0	0
Deferred taxes	0	0
Loss on disposition of property and equipment	0	25
Provision for doubtful accounts	0	49
Undistributed equity in earnings of subsidiaries	(7,804)	(6,623)
Change in assets and liabilities which provided (used) cash:
Accounts receivable	842	231
Inventories	1,229	1,047
Prepaid expenses	170	543
Other current assets	167	326
Accounts payable and accrued expenses	(932)	(947)
Deferred and other long-term liabilities	379	347
Intercompany loans	(4,721)	(3,343)
Net cash provided by operating activities	3,956	6,945
Investing activities
Capital expenditures	(938)	(1,103)
Intercompany property and equipment transfers, net	2	191
Proceeds from disposals of property and equipment	5	26
Net cash used in investing activities	(931)	(886)
Financing activities
Net increase in notes payable		0
Proceeds from borrowings	0	0
Principal payments on debt	0	0
Dividends paid	(3,145)	(700)
Payment of obligations under capital leases	(517)	(101)
Payment of financing fees	0	0
Intercompany loans	637	(5,258)
Other financing activities		0
Net cash (used in) provided by financing activities	(3,025)	(6,059)
Effect of exchange rate changes on cash flows	0	0
Net increase (decrease) in cash	0	0
Cash and cash equivalents at beginning of period	(2)	(14)
Cash and cash equivalents at end of period	(2)	(14)
Total Non Guarantors
Operating activities
Net (loss) income	7,643	15,585
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Stock-based compensation	(11)	70
Depreciation	5,292	5,083
Amortization of intangibles	25	10
Deferred financing cost amortization	24	23
Foreign exchange gain on revaluation of debt	0	0
Deferred taxes	(18)	468
Loss on disposition of property and equipment	17	(11)
Provision for doubtful accounts	(72)	423
Undistributed equity in earnings of subsidiaries	0	0
Change in assets and liabilities which provided (used) cash:
Accounts receivable	(2,417)	(776)
Inventories	907	294
Prepaid expenses	81	810
Other current assets	857	(2,005)
Accounts payable and accrued expenses	(838)	(2,453)
Deferred and other long-term liabilities	410	(3,876)
Intercompany loans	2,796	7,633
Net cash provided by operating activities	14,696	21,278
Investing activities
Capital expenditures	(2,495)	(6,355)
Intercompany property and equipment transfers, net	0	(191)
Proceeds from disposals of property and equipment	15	6
Net cash used in investing activities	(2,480)	(6,540)
Financing activities
Net increase in notes payable		3,526
Proceeds from borrowings	2,321	5,526
Principal payments on debt	(4,892)	(4,272)
Dividends paid	0
Payment of obligations under capital leases	(89)	(3)
Payment of financing fees	18	9
Intercompany loans	(1,884)	(14,329)
Other financing activities		(5,500)
Net cash (used in) provided by financing activities	(4,526)	(15,043)
Effect of exchange rate changes on cash flows	(1,036)	(516)
Net increase (decrease) in cash	6,654	(821)
Cash and cash equivalents at beginning of period	6,736	8,926
Cash and cash equivalents at end of period	13,390	8,105
Other Eliminations
Operating activities
Net (loss) income	(20,147)	(29,087)
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Stock-based compensation	0	0
Depreciation	0	0
Amortization of intangibles	0	0
Deferred financing cost amortization	0	0
Foreign exchange gain on revaluation of debt	0	0
Deferred taxes	0	0
Loss on disposition of property and equipment	0	0
Provision for doubtful accounts	0	0
Undistributed equity in earnings of subsidiaries	16,906	28,292
Change in assets and liabilities which provided (used) cash:
Accounts receivable	0	0
Inventories	96	95
Prepaid expenses	0	0
Other current assets	0	0
Accounts payable and accrued expenses	0	0
Deferred and other long-term liabilities	0	0
Intercompany loans	0	0
Net cash provided by operating activities	(3,145)	(700)
Investing activities
Capital expenditures	0	0
Intercompany property and equipment transfers, net	0	0
Proceeds from disposals of property and equipment	0	0
Net cash used in investing activities	0	0
Financing activities
Proceeds from borrowings	0	0
Principal payments on debt	0	0
Dividends paid	3,145	700
Payment of obligations under capital leases	0	0
Payment of financing fees	0	0
Intercompany loans	0	0
Net cash (used in) provided by financing activities	3,145	700
Effect of exchange rate changes on cash flows	0	0
Net increase (decrease) in cash	0	0
Cash and cash equivalents at beginning of period	0	0
Cash and cash equivalents at end of period	$ 0	$ 0

Subsequent Events (Details)

Subsequent Events (Details) - J.J. Plank Corporation - Subsequent Event $ in Millions	May. 03, 2016USD ($)
Subsequent Event [Line Items]
Purchase price	$ 18
Amount payable at closing	$ 16