Neenah (NP) 10-Q 6 Nov 19 2019 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2019	Nov. 01, 2019
Cover page.
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2019
Document Transition Report	false
Entity File Number	001-32240
Entity Registrant Name	Neenah Inc
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-1308307
Entity Address, Address Line One	3460 Preston Ridge Road
Entity Address, City or Town	Alpharetta
Entity Address, State or Province	GA
Entity Address, Postal Zip Code	30005
City Area Code	678
Local Phone Number	566-6500
Title of 12(b) Security	Common Stock
Trading Symbol	NP
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		16,814,795
Entity Central Index Key	0001296435
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) shares in Thousands, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Income Statement [Abstract]
Net sales	$ 231.8	$ 256.2	$ 724.9	$ 794
Cost of products sold	187.1	214.9	585.8	645.2
Gross profit	44.7	41.3	139.1	148.8
Selling, general and administrative expenses	23.1	23.6	75.3	75.6
Impairment loss (Note 12)	0	2	0	34
Restructuring and other non-routine costs (Note 13)	2.4	2.2	5.9	2.5
Pension settlement and other benefit costs (Note 7)	0.1	0	0.1	1.8
Acquisition-related adjustments (Note 1)	0	(3.1)	0	(3.1)
Insurance settlement	0	(0.4)	0	(0.4)
Other expense - net	0.1	0.5	1.6	2.1
Operating income	19	16.5	56.2	36.3
Interest expense - net	2.8	3.2	9	9.8
Income from continuing operations before income taxes	16.2	13.3	47.2	26.5
Provision for income taxes	1.8	0.4	7.4	2.2
Income from continuing operations	14.4	12.9	39.8	24.3
Loss from discontinued operations (Note 1)	0	(0.8)	0	(0.8)
Net income	$ 14.4	$ 12.1	$ 39.8	$ 23.5
Basic
Continuing operations (in usd per share)	$ 0.85	$ 0.76	$ 2.35	$ 1.43
Discontinued operations (in usd per share)	0	(0.05)	0	(0.05)
Basic (in usd per share)	0.85	0.71	2.35	1.38
Diluted
Continuing operations (in usd per share)	0.84	0.75	2.33	1.41
Discontinued operations (in usd per share)	0	(0.05)	0	(0.05)
Diluted (in usd per share)	$ 0.84	$ 0.70	$ 2.33	$ 1.36
Weighted Average Common Shares Outstanding (in thousands)
Basic (in shares)	16,837	16,849	16,850	16,848
Diluted (in shares)	16,905	16,988	16,910	16,984
Cash dividends declared per share of common stock (in usd per share)	$ 0.45	$ 0.41	$ 1.35	$ 1.23

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Statement of Comprehensive Income [Abstract]
Net income	$ 14.4	$ 12.1	$ 39.8	$ 23.5
Reclassification of amounts recognized in the condensed consolidated statements of operations:
Amortization of adjustments to pension and other postretirement benefit liabilities (Note 7)	1.3	1.5	4.4	4.5
SERP settlement loss (Note 7)	0.1	0	0.1	0.8
Amounts recognized in the condensed consolidated statements of operations	1.4	1.5	4.5	5.3
Unrealized foreign currency translation loss	(6.9)	(0.7)	(8.6)	(4.9)
Net gain from pension and other postretirement benefit plans	0	0	4.9	0.4
Income (loss) from other comprehensive income items	(5.5)	0.8	0.8	0.8
Provision for income taxes	0.3	0.4	2.1	1.5
Other comprehensive income (loss)	(5.8)	0.4	(1.3)	(0.7)
Comprehensive income	$ 8.6	$ 12.5	$ 38.5	$ 22.8

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Current Assets
Cash and cash equivalents	$ 7.4	$ 9.9
Accounts receivable (less allowances of $1.5 million and $1.3 million)	112	114.8
Inventories	118.7	131.6
Prepaid and other current assets	15	21.6
Total Current Assets	253.1	277.9
Property, Plant and Equipment
Property, plant and equipment, at cost	838.5	840.2
Less accumulated depreciation	461.8	444
Property, Plant and Equipment—net	376.7	396.2
Lease Right-of-Use Assets (Note 11)	14.2
Deferred Income Taxes	13	16.4
Goodwill	81.9	84
Intangible Assets—net	67.1	70.7
Other Noncurrent Assets	16.4	16
TOTAL ASSETS	822.4	861.2
Current Liabilities
Debt payable within one year	2.6	2.3
Lease liabilities payable within one year (Note 11)	1.8
Accounts payable	51.7	63.3
Accrued expenses	48.7	55.2
Total Current Liabilities	104.8	120.8
Long-term Debt	202	236.8
Deferred Income Taxes	13.5	14.4
Noncurrent Employee Benefits	79.4	92.9
Noncurrent Lease Liabilities (Note 11)	13.2	0
Other Noncurrent Obligations	4	6.1
TOTAL LIABILITIES	416.9	471
Contingencies and Legal Matters (Note 10)	0	0
TOTAL STOCKHOLDERS’ EQUITY	405.5	390.2
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 822.4	$ 861.2

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Accounts receivable, allowances	$ 1.5	$ 1.3

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (UNAUDITED) - USD ($) shares in Thousands, $ in Millions	Total	Common Stock	Treasury Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Loss
Beginning balance (in shares) at Dec. 31, 2017		18,458
Balance at the beginning of the period at Dec. 31, 2017	$ 399.9	$ 0.2	$ (65.8)	$ 323.9	$ 235.7	$ (94.1)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	16.2				16.2
Other comprehensive income, after income tax benefit	7.3					7.3
Dividends declared	(7)				(7)
Shares purchased (Note 9)	(5.3)		(5.3)
Stock options exercised (in shares)		20
Stock options exercised	0.1			0.1
Stock-based compensation	1.8			1.8
Ending balance (in shares) at Mar. 31, 2018		18,478
Balance at the end of the period at Mar. 31, 2018	412.2	$ 0.2	(71.1)	325.8	243.8	(86.5)
Beginning balance (in shares) at Dec. 31, 2017		18,458
Balance at the beginning of the period at Dec. 31, 2017	399.9	$ 0.2	(65.8)	323.9	235.7	(94.1)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	23.5
Other comprehensive income, after income tax benefit	(0.7)
Ending balance (in shares) at Sep. 30, 2018		18,533
Balance at the end of the period at Sep. 30, 2018	399.1	$ 0.2	(72.1)	328.2	237.3	(94.5)
Beginning balance (in shares) at Mar. 31, 2018		18,478
Balance at the beginning of the period at Mar. 31, 2018	412.2	$ 0.2	(71.1)	325.8	243.8	(86.5)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	(4.8)				(4.8)
Other comprehensive income, after income tax benefit	(8.4)					(8.4)
Dividends declared	(6.9)				(6.9)
Shares purchased (Note 9)	(1)		(1)
Stock options exercised (in shares)		12
Stock options exercised	0.3			0.3
Restricted stock vesting (in shares)		8
Restricted stock vesting (Note 9)	0
Stock-based compensation	1.2			1.2
Other/currency	(0.1)			(0.1)
Ending balance (in shares) at Jun. 30, 2018		18,498
Balance at the end of the period at Jun. 30, 2018	392.5	$ 0.2	(72.1)	327.2	232.1	(94.9)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	12.1				12.1
Other comprehensive income, after income tax benefit	0.4					0.4
Dividends declared	(6.9)				(6.9)
Stock options exercised (in shares)		35
Stock options exercised	0.3			0.3
Stock-based compensation	0.7			0.7
Ending balance (in shares) at Sep. 30, 2018		18,533
Balance at the end of the period at Sep. 30, 2018	399.1	$ 0.2	(72.1)	328.2	237.3	(94.5)
Beginning balance (in shares) at Dec. 31, 2018		18,597
Balance at the beginning of the period at Dec. 31, 2018	390.2	$ 0.2	(76.6)	328.5	243.2	(105.1)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	11.8				11.8
Other comprehensive income, after income tax benefit	(1.7)					(1.7)
Dividends declared	(7.6)				(7.6)
Shares purchased (Note 9)	(0.3)		(0.3)
Stock options exercised (in shares)		9
Stock options exercised	0
Restricted stock vesting (in shares)		3
Restricted stock vesting (Note 9)	(0.1)		(0.1)
Stock-based compensation	1.9			1.9
Ending balance (in shares) at Mar. 31, 2019		18,609
Balance at the end of the period at Mar. 31, 2019	394.2	$ 0.2	(77)	330.4	247.4	(106.8)
Beginning balance (in shares) at Dec. 31, 2018		18,597
Balance at the beginning of the period at Dec. 31, 2018	390.2	$ 0.2	(76.6)	328.5	243.2	(105.1)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	39.8
Other comprehensive income, after income tax benefit	(1.3)
Ending balance (in shares) at Sep. 30, 2019		18,635
Balance at the end of the period at Sep. 30, 2019	405.5	$ 0.2	(81.7)	333.3	260.1	(106.4)
Beginning balance (in shares) at Mar. 31, 2019		18,609
Balance at the beginning of the period at Mar. 31, 2019	394.2	$ 0.2	(77)	330.4	247.4	(106.8)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	13.6				13.6
Other comprehensive income, after income tax benefit	6.2					6.2
Dividends declared	(7.6)				(7.6)
Shares purchased (Note 9)	(1.6)		(1.6)
Stock options exercised (in shares)		1
Stock options exercised	0
Restricted stock vesting (in shares)		21
Restricted stock vesting (Note 9)	0
Stock-based compensation	1.7			1.7
Ending balance (in shares) at Jun. 30, 2019		18,631
Balance at the end of the period at Jun. 30, 2019	406.5	$ 0.2	(78.6)	332.1	253.4	(100.6)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	14.4				14.4
Other comprehensive income, after income tax benefit	(5.8)					(5.8)
Dividends declared	(7.7)				(7.7)
Shares purchased (Note 9)	(2.9)		(2.9)
Stock options exercised (in shares)		2
Stock options exercised	0
Restricted stock vesting (in shares)		2
Restricted stock vesting (Note 9)	(0.2)		(0.2)
Stock-based compensation	1.2			1.2
Ending balance (in shares) at Sep. 30, 2019		18,635
Balance at the end of the period at Sep. 30, 2019	$ 405.5	$ 0.2	$ (81.7)	$ 333.3	$ 260.1	$ (106.4)

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Millions	3 Months Ended				9 Months Ended		12 Months Ended
	Sep. 30, 2019	Mar. 31, 2019	Sep. 30, 2018	Mar. 31, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
OPERATING ACTIVITIES
Net income	$ 14.4	$ 11.8	$ 12.1	$ 16.2	$ 39.8	$ 23.5
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization					30.2	27.3
Stock-based compensation					4.8	3.7
Deferred income tax provision (benefit)					1.1	(4.4)
Impairment loss (Note 12)	0		2		0	34
Pension settlement and other benefit costs (Note 7)	0.1		0		0.1	1.8
Loss on asset dispositions					0.1	0.4
Non-cash effects of changes in liabilities for uncertain income tax positions					(0.5)	0.1
Decrease (increase) in working capital					1.4	(8.2)
Pension and other postretirement benefits					(2.2)	(13.5)
Other					(0.4)	(1)
NET CASH PROVIDED BY OPERATING ACTIVITIES					74.4	63.7
INVESTING ACTIVITIES
Capital expenditures					(13.9)	(28.1)
Purchase of marketable securities					(0.3)	0
Other					(0.7)	(0.8)
NET CASH USED IN INVESTING ACTIVITIES					(14.9)	(28.9)
FINANCING ACTIVITIES
Long-term borrowings (Note 6)					155.5	224.8
Repayments of long-term debt (Note 6)					(188.8)	(229.6)
Debt issuance costs					(0.4)	(0.3)
Cash dividends paid					(22.9)	(20.8)
Shares purchased (Note 9)					(5.1)	(6.3)
Proceeds from exercise of stock options					0	0.6
NET CASH USED IN FINANCING ACTIVITIES					(61.7)	(31.6)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS					(0.3)	(0.3)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS					(2.5)	2.9
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR		$ 9.9		$ 4.5	9.9	4.5	$ 4.5
CASH AND CASH EQUIVALENTS, END OF PERIOD	$ 7.4		$ 7.4		7.4	7.4	$ 9.9
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid during period for interest, net of interest costs capitalized					6	6.7
Cash paid during period for income taxes					11.4	6.6
Non-cash investing activities:
Liability for equipment acquired					$ 3.1	$ 3.9

Background and Basis of Present

Background and Basis of Presentation	9 Months Ended
	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Background and Basis of Presentation	Background and Basis of Presentation Background Neenah, Inc. ("Neenah" or the "Company"), is a Delaware corporation incorporated in April 2004. The Company has two primary operations: its technical products business and its fine paper and packaging business. See Note 13, "Business Segment Information." Basis of Consolidation and Presentation These statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the "SEC") and, in accordance with those rules and regulations, do not include all information and footnote disclosures normally included in annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP"). Management believes that the disclosures made are adequate for a fair presentation of the Company’s results of operations, financial position and cash flows. In the opinion of management, the condensed consolidated financial statements reflect all adjustments, consisting only of normal recurring adjustments, necessary to present fairly the results of operations, financial position and cash flows for the interim periods presented herein. The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make extensive use of estimates and assumptions that affect the reported amounts and disclosures. Actual results may vary from these estimates. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s most recent Annual Report on Form 10-K. The results of operations for any interim period are not necessarily indicative of the results of operations to be expected for the full year. The condensed consolidated financial statements of Neenah and its subsidiaries included herein are unaudited. The condensed consolidated financial statements include the financial statements of the Company and its wholly owned and majority owned subsidiaries. Intercompany balances and transactions have been eliminated. Earnings per Share ("EPS") The following table presents the computation of basic and diluted EPS (dollars in millions except per share amounts, shares in thousands): Earnings Per Basic Common Share Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Income from continuing operations $ 14.4 $ 12.9 $ 39.8 $ 24.3 Amounts attributable to participating securities (0.1 ) (0.1 ) (0.2 ) (0.3 ) Income from continuing operations available to common stockholders 14.3 12.8 39.6 24.0 Loss from discontinued operations — (0.8 ) — (0.8 ) Net income available to common stockholders $ 14.3 $ 12.0 $ 39.6 $ 23.2 Weighted-average basic shares outstanding 16,837 16,849 16,850 16,848 Continuing operations $ 0.85 $ 0.76 $ 2.35 $ 1.43 Discontinued operations — (0.05 ) — (0.05 ) Basic earnings per share $ 0.85 $ 0.71 $ 2.35 $ 1.38 Earnings Per Diluted Common Share Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Income from continuing operations $ 14.4 $ 12.9 $ 39.8 $ 24.3 Amounts attributable to participating securities (0.1 ) (0.1 ) (0.2 ) (0.3 ) Income from continuing operations available to common stockholders 14.3 12.8 39.6 24.0 Loss from discontinued operations — (0.8 ) — (0.8 ) Net income available to common stockholders $ 14.3 $ 12.0 $ 39.6 $ 23.2 Weighted-average basic shares outstanding 16,837 16,849 16,850 16,848 Add: Assumed incremental shares under stock compensation plans (a) 68 139 60 136 Weighted-average diluted shares 16,905 16,988 16,910 16,984 Continuing operations $ 0.84 $ 0.75 $ 2.33 $ 1.41 Discontinued operations — (0.05 ) — (0.05 ) Diluted earnings per share $ 0.84 $ 0.70 $ 2.33 $ 1.36 (a) For the three months ended September 30, 2019 and 2018 , there were 231,471 and 106,789 potentially dilutive options, respectively, excluded from the computation of dilutive common shares because the exercise price of such options exceeded the average market price of the Company’s Common Stock. For the nine months ended September 30, 2019 and 2018 , there were 231,199 and 143,853 potentially dilutive options, respectively, similarly excluded from the computation of dilutive common shares. Fair Value of Financial Instruments The Company measures the fair value of financial instruments in accordance with Accounting Standards Codification ("ASC") Topic 820, Fair Value Measurements and Disclosures ("ASC Topic 820") which establishes a framework for measuring fair value. ASC Topic 820 provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The following table presents the carrying value and the fair value of the Company’s debt. September 30, 2019 December 31, 2018 Carrying Value Fair Value (a) Carrying Value Fair Value (a) 2021 Senior Notes (5.25% fixed rate) $ 175.0 $ 174.3 $ 175.0 $ 170.5 Global Revolving Credit Facilities (variable rates) 25.1 25.1 57.9 57.9 German loan agreement (2.45% fixed rate) 3.7 3.8 4.8 5.1 German loan agreement (1.45% fixed rate) 4.0 4.0 4.9 4.9 Total debt $ 207.8 $ 207.2 $ 242.6 $ 238.4 (a) The fair value for all debt instruments was estimated from Level 2 measurements using rates currently available to the Company for debt of the same remaining maturities. As of September 30, 2019 , the Company had $3.9 million in marketable securities in the U.S. classified as "Other Noncurrent Assets" on the Condensed Consolidated Balance Sheet. The cost of such marketable securities was $4.3 million . Fair value for the Company’s marketable securities was estimated from Level 1 inputs. The Company’s U.S. marketable securities are designated for the payment of benefits under its supplemental employee retirement plan ("SERP"). As of September 30, 2019 , Neenah Germany had investments of $1.8 million that were restricted to the payment of certain post-retirement employee benefits of which $0.6 million and $1.2 million are classified as "Prepaid and other current assets" and "Other Noncurrent Assets", respectively, on the Condensed Consolidated Balance Sheet. The cost of these investments approximate market. Acquisitions During the three months ended September 30, 2018, the Company recognized $3.1 million of income related to the adjustment in contingent liability and an escrow arrangement from the 2017 acquisition of Coldenhove ("Coldenhove Acquisition"). These items were recognized as income as they related to the operating results subsequent to the acquisition. Discontinued Operations During the three months ended September 30, 2018, the Company recorded an additional loss on sale of $0.8 million arising from the final adjustment to the transaction price on the sale of the Lahnstein Mill in 2015.

Accounting Standards Changes

Accounting Standards Changes	9 Months Ended
	Sep. 30, 2019
Accounting Changes and Error Corrections [Abstract]
Accounting Standards Changes	Accounting Standards Changes As of September 30, 2019 , no amendments to the ASC have been issued that will have or are reasonably likely to have a material effect on the Company’s financial position, results of operations or cash flows.

Revenue From Contracts With Cus

Revenue From Contracts With Customers	9 Months Ended
	Sep. 30, 2019
Revenues [Abstract]
Revenue from Contracts with Customers	Revenue from Contracts with Customers The Company recognizes sales revenue at a point in time following the transfer of control of the product to the customer, which typically occurs upon shipment or delivery depending on the terms of the underlying contracts. Sales are reported net of allowable discounts and estimated returns. Reserves for cash discounts, trade allowances and sales returns are estimated using historical experience. The Company accounts for shipping and handling activities related to contracts with customers as costs to fulfill our promise to transfer the associated products. Accordingly, the Company records customer payments of shipping and handling costs as a component of net sales and classifies such costs as a component of cost of sales. The Company excludes tax amounts assessed by governmental authorities that are both (i) imposed on and concurrent with a specific revenue-producing transaction and (ii) collected from customers from our measurement of transaction prices. Accordingly, such tax amounts are not included as a component of net sales or cost of sales. The following tables represent a disaggregation of segment revenue from contracts with customers for the three and nine months ended September 30, 2019 and 2018 . The technical products business is an international producer of fiber-formed, coated and/or saturated specialized media that deliver high performance benefits to customers. Included in this segment are transportation and other filtration media ("Filtration"), tape and abrasives backings products ("Backings"), and digital image transfer, durable label and other specialty substrate products ("Specialty"). Following the disposition of the Brattleboro mill which eliminated a significant portion of the products of the Other business segment, in January 2019 the Company realigned the remaining products manufactured in the Other business segment to be managed as part of the Technical Products business segment. As a result, the Company presented the net sales and operating income for the three and nine months ended September 30, 2019 of this remaining portion of the Other business segment within the Technical Products business segment and recast the comparable 2018 information into Specialty products. Refer to Note 13, "Business Segment Information", for further discussion on the amount recast. Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Filtration 43 % 41 % 42 % 40 % Backings 24 % 27 % 25 % 28 % Specialty 33 % 32 % 33 % 32 % Total 100 % 100 % 100 % 100 % The fine paper and packaging business is a leading supplier of premium printing and other high end specialty papers ("Graphic Imaging"), premium packaging ("Packaging") and specialty office papers ("Filing/Office") primarily in North America. With the sale of the Brattleboro mill in 2018, the Filing/Office category has been eliminated. Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Graphic Imaging 80 % 78 % 79 % 77 % Packaging 20 % 18 % 21 % 19 % Filing/Office — % 4 % — % 4 % Total 100 % 100 % 100 % 100 % The following tables represent a disaggregation of revenue from contracts with customers by location of the selling entities for the three and nine months ended September 30, 2019 and 2018 . Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 United States 72 % 73 % 72 % 72 % Germany 21 % 20 % 21 % 21 % Rest of Europe 7 % 7 % 7 % 7 % Total 100 % 100 % 100 % 100 % The Company considers each transaction/shipment as a separate performance obligation. Neenah recognizes revenue when the title transfers to the customer. As such, the remaining performance obligations at period end are not considered significant. Sales terms in the technical products business vary depending on the type of product sold and customer category. In general, sales are collected in 45 to 55 days. Extended credit terms of up to 120 days are offered to customers located in certain international markets. Fine paper and packaging sales terms range between 20 and 30 days with discounts of 0 to 2% for customer payments, with discounts of 1% and 20 -day terms used most often. Extended credit terms are offered to customers located in certain international markets.

Supplemental Balance Sheet Data

Supplemental Balance Sheet Data	9 Months Ended
	Sep. 30, 2019
Balance Sheet Related Disclosures [Abstract]
Supplemental Balance Sheet Data	Supplemental Balance Sheet Data The following table presents inventories by major class: September 30, 2019 December 31, 2018 Raw materials $ 32.0 $ 35.6 Work in progress 25.1 30.1 Finished goods 67.2 78.3 Supplies and other 5.1 3.0 129.4 147.0 Adjust FIFO inventories to LIFO cost (10.7 ) (15.4 ) Total $ 118.7 $ 131.6 The FIFO values of inventories valued on the LIFO method were $103.3 million and $109.1 million as of September 30, 2019 and December 31, 2018 , respectively. For the three and nine months ended September 30, 2019 , income from continuing operations before income taxes was reduced by less than $0.1 million due to a decrease in certain LIFO inventory quantities. The following table presents changes in accumulated other comprehensive income (loss) ("AOCI") for the nine months ended September 30, 2019 : Net Unrealized Foreign Currency Translation Loss Net Loss from Pension and Other Postretirement Liabilities Accumulated Other Comprehensive Loss AOCI — December 31, 2018 $ (15.5 ) $ (89.6 ) $ (105.1 ) Other comprehensive income (loss) before reclassifications (a) (8.6 ) 5.0 (3.6 ) Amounts reclassified from AOCI — 4.4 4.4 Income (loss) from other comprehensive income items (8.6 ) 9.4 0.8 Provision (benefit) for income taxes (0.2 ) 2.3 2.1 Other comprehensive income (loss) (8.4 ) 7.1 (1.3 ) AOCI — September 30, 2019 $ (23.9 ) $ (82.5 ) $ (106.4 ) (a) For the nine months ended September 30, 2019, the Company recorded a $4.9 million decrease in the employee benefit obligations related to a pension remeasurement in conjunction with the redistribution of active and inactive participants between separate pension plans and a $0.1 million settlement loss related to the SERP. For the nine months ended September 30, 2019 and 2018 , the Company reclassified $4.4 million and $4.5 million , respectively, of costs from AOCI to "Other expense - net" on the Condensed Consolidated Statements of Operations. For each of the nine months ended September 30, 2019 and 2018 , the Company recognized an income tax benefit of $1.1 million related to such reclassifications classified as "Provision for income taxes" on the Condensed Consolidated Statements of Operations.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Income Taxes	Note 5. Income Taxes The Company accounts for income taxes in accordance with ASC Topic 740, Income Taxes. Income tax expense represented 11% and 3% of pre-tax book income for the three months ended September 30, 2019 and 2018 , respectively, and 16% and 8% of pre-tax book income for the nine months ended September 30, 2019 and 2018 , respectively. The effective income tax rates for the three and nine months ended September 30, 2019 were reduced by a $1.2 million reversal of U.S. federal and state reserves for uncertain tax positions as a result of expiration of statutes of limitation for audit. The effective income tax rate for the three and nine months ended September 30, 2018 was significantly impacted by the effects of the $34.0 million impairment loss of the Brattleboro mill and associated research and office facilities (see Note 12), as lower pre-tax income resulted in similarly sized reconciling items having a larger percentage impact. In addition, the effective income tax rates for these 2018 periods were favorably impacted by incremental pension plan contributions applied to the 2017 tax year. The following table presents the principal reasons for the difference between the Company's effective income tax (benefit) rate and the U.S. federal statutory income tax (benefit) rate: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 U.S. federal statutory income tax (benefit) rate 21 % 21 % 21 % 21 % U.S. state income taxes (benefit), net of federal income tax effect 1 % — % 1 % (3 )% Foreign tax rate differences and financing structure — % 1 % 1 % 3 % U.S. taxes on foreign earnings 1 % (2 )% 1 % 6 % Change in statutory tax rates — % (3 )% — % (3 )% Research and development and other tax credits (5 )% (10 )% (6 )% (12 )% Excess tax benefits from stock compensation — % (5 )% — % (4 )% Uncertain income tax positions (7 )% 2 % (3 )% 2 % Other differences - net — % (1 )% 1 % (2 )% Effective income tax (benefit) rate 11 % 3 % 16 % 8 %

Debt

Debt	9 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Debt	Debt Long-term debt consisted of the following: September 30, 2019 December 31, 2018 2021 Senior Notes (5.25% fixed rate) due May 2021 $ 175.0 $ 175.0 Global Revolving Credit Facilities (variable rates) due December 2023 25.1 57.9 German loan agreement (2.45% fixed rate) due in quarterly installments ending September 2022 3.7 4.8 German loan agreement (1.45% fixed rate) due in quarterly installments ending March 2023 4.0 4.9 Deferred financing costs (3.2 ) (3.5 ) Total debt 204.6 239.1 Less: Debt payable within one year 2.6 2.3 Long-term debt $ 202.0 $ 236.8 2021 Senior Notes In May 2013, the Company completed an underwritten offering of eight -year senior unsecured notes (the "2021 Senior Notes") at a face amount of $175 million . The 2021 Senior Notes contain terms, covenants and events of default with which the Company must comply, which the Company believes are ordinary and standard for notes of this nature. As of September 30, 2019 , the Company was in compliance with all terms of the indenture for the 2021 Senior Notes. Amended and Restated Secured Revolving Credit Facility In December 2018, the Company amended and restated its existing credit facility by entering into the Fourth Amended and Restated Credit Agreement (the "Fourth Amended Credit Agreement"), that will mature on December 10, 2023. The Fourth Amended Credit Agreement contains covenants with which the Company and its subsidiaries must comply during the term of the agreement, which the Company believes are ordinary and standard for agreements of this nature. As of September 30, 2019 , the Company was in compliance with all terms of the Fourth Amended Credit Agreement. Availability under the Global Revolving Credit Facilities varies over time depending on the value of the Company’s inventory, receivables and various capital assets. As of September 30, 2019 , the Company had $25.1 million of borrowings and $0.5 million in letters of credit outstanding under the Global Revolving Credit Facilities and $176.3 million of available credit (based on exchange rates at September 30, 2019 ). As of September 30, 2019 , the weighted-average interest rate on outstanding Global Revolving Credit Facility borrowings was 1.3 percent per annum. As of December 31, 2018 , the weighted-average interest rate under the Global Revolving Credit Facilities was 2.9 percent per annum. Under the terms of the 2021 Senior Notes and the Fourth Amended Credit Agreement, the Company has limitations on its ability to repurchase shares of and pay dividends on its Common Stock. These limitations are triggered depending on the Company’s credit availability under the Fourth Amended Credit Agreement and leverage levels under the Senior Notes. As of September 30, 2019 , none of these covenants were restrictive to the Company’s ability to repurchase shares of and pay dividends on its Common Stock. For additional information about our debt agreements, see Note 7, "Debt" of the Notes to Consolidated Financial Statements in our 2018 Form 10-K. Borrowings and Repayments of Long-Term Debt The Condensed Consolidated Statements of Cash Flows present borrowings and repayments under the Global Revolving Credit Facilities using a gross approach. This approach presents not only discrete borrowings for transactions such as a business acquisition, but also reflects all borrowings and repayments that occur as part of daily management of cash receipts and disbursements. For the nine months ended September 30, 2019 , the Company made scheduled debt repayments of $1.6 million and net long-term debt repayments of $31.7 million related to daily cash management activities. For the nine months ended September 30, 2018 , the Company made scheduled debt repayments of $1.0 million and net long-term debt repayments of $3.8 million related to daily cash management activities.

Pension and Other Postretiremen

Pension and Other Postretirement Benefits	9 Months Ended
	Sep. 30, 2019
Retirement Benefits [Abstract]
Pension and Other Postretirement Benefits	Pension and Other Postretirement Benefits Pension Plans Substantially all active employees of the Company’s U.S. operations participate in defined benefit pension plans and/or defined contribution retirement plans. The Company has defined benefit plans for substantially all its employees in Germany, the Netherlands and the United Kingdom. In addition, the Company maintains a SERP, which is a non-qualified defined benefit plan, and a supplemental retirement contribution plan (the "SRCP"), which is a non-qualified, unfunded defined contribution plan. The Company provides benefits under the non-qualified SERP and SRCP plans to the extent necessary to fulfill the intent of its retirement plans without regard to the limitations set by the Internal Revenue Code on qualified retirement benefit plans. During October 2019, the Company reached an agreement with the union members of the Christelijke Nationale Vakbond ("CNV") and the Federatie Nederlandse Vakvereniging ("FNV") that affected employees in the Netherlands. In accordance with the new agreements, effective December 31, 2019, the current Dutch defined benefit pension plan will be closed to new entrants, and the defined benefit pension plan will be replaced by a new defined contribution plan. All new employees will participate in the new defined contribution plan, and current employees will have their benefit frozen at current levels under the defined benefit plan and will begin participation in the new defined contribution plan. The Company expects to recognize a curtailment gain of € 1.7 million in the fourth quarter of 2019 due to these changes. The following table presents the components of net periodic benefit cost for the Company’s defined benefit plans and postretirement plans other than pensions: Components of Net Periodic Benefit Cost for Defined Benefit Plans Pension Benefits Postretirement Benefits Other than Pensions Three Months Ended September 30, 2019 2018 2019 2018 Service cost $ 1.2 $ 1.7 $ 0.3 $ 0.3 Interest cost 4.0 3.9 0.3 0.3 Expected return on plan assets (a) (5.4 ) (5.2 ) — — Recognized net actuarial loss 1.1 1.3 0.1 0.1 Amortization of prior service benefit 0.1 — — — Amount of settlement loss recognized 0.1 — — — Net periodic benefit cost $ 1.1 $ 1.7 $ 0.7 $ 0.7 Pension Benefits Postretirement Benefits Other than Pensions Nine Months Ended September 30, 2019 2018 2019 2018 Service cost $ 3.8 $ 5.1 $ 0.9 $ 0.9 Interest cost 12.2 11.8 1.1 0.9 Expected return on plan assets (a) (15.7 ) (15.7 ) — — Recognized net actuarial loss 3.7 3.9 0.5 0.4 Amortization of prior service benefit 0.2 0.1 — (0.1 ) Amount of settlement loss recognized (b) 0.1 0.8 — — Net periodic benefit cost $ 4.3 $ 6.0 $ 2.5 $ 2.1 (a) The expected return on plan assets is determined by multiplying the fair value of plan assets at the prior year-end (adjusted for estimated current year cash benefit payments and contributions) by the expected long-term rate of return. The Dutch pension plan is funded through an insurance contract, and the expected return on plan assets is calculated based on the discount rate of the insured obligations. (b) For the nine months ended September 30, 2019 and 2018, the Company recognized a settlement loss of $0.1 million and $0.8 million , respectively, related to the SERP. The Company records the service cost component of net periodic benefit cost as part of cost of sales and selling, general and administrative ("SG&A") expenses; and the non-service cost components of net periodic benefit cost (i.e., interest cost, expected return on plan assets, net actuarial gains or losses, and amortization of prior service cost or credits) as part of "Other expense - net" on the Condensed Consolidated Statements of Operations. The Company expects to make aggregate contributions to qualified and nonqualified defined benefit pension trusts and to pay pension benefits for unfunded pension and other postretirement benefit plans of $14.7 million in calendar 2019. For the nine months ended September 30, 2019 , the Company made $9.7 million of such payments. The Company made similar payments of $21.5 million and $23.1 million for the nine months ended September 30, 2018 and for the year ended December 31, 2018, respectively. Multi-Employer Plan In June 2018, the Company and representatives of the United Steelworkers Union (the "USW") of the Lowville mill reached an agreement to withdraw from the Pace Industry Union-Management Pension Fund (“PIUMPF”), effective July 1, 2018. As a result, the Company recorded an estimated withdrawal liability of $1.0 million , which assumes payment of $0.1 million per year over 20 years , discounted at a credit adjusted risk-free rate of 5.7% . In addition to the withdrawal liability, PIUMPF may also demand payment from the Company of a pro-rata share of the fund's accumulated funding deficiency. The Company estimates the demand of accumulated funding deficiency to be in the range of $1.0 to $1.25 million . The Company reserves the right to challenge any such demand and believes this demand is unenforceable. As such, the Company has not recorded a liability for this amount as of September 30, 2019 .

Stock Compensation Plan

Stock Compensation Plan	9 Months Ended
	Sep. 30, 2019
Share-based Payment Arrangement [Abstract]
Stock Compensation Plan	Stock Compensation Plan Stock Options and Stock Appreciation Rights ("Options") The following table presents information regarding Options awarded during the nine months ended September 30, 2019 : Options granted 1,272 Per share weighted average exercise price $ 66.59 Per share weighted average grant date fair value $ 10.32 The weighted-average grant date fair value for Options granted during the nine months ended September 30, 2019 was estimated using the Black-Scholes option valuation model with the following assumptions: Expected term in years 5.0 Risk free interest rate 1.8 % Volatility 23.1 % Dividend yield 3.0 % The following table presents information regarding Options that vested during the nine months ended September 30, 2019 : Options vested 111,615 Aggregate grant date fair value of Options vested (in millions) $ 1.6 The following table presents information regarding outstanding Options: September 30, 2019 December 31, 2018 Options outstanding 432,406 451,081 Aggregate intrinsic value (in millions) $ 3.2 $ 2.7 Per share weighted average exercise price $ 69.31 $ 67.46 Exercisable Options 333,887 240,903 Aggregate intrinsic value (in millions) $ 3.2 $ 2.6 Unvested Options 98,519 210,178 Per share weighted average grant date fair value $ 14.37 $ 14.21 Performance Share Units ("PSUs") and Restricted Share Units ("RSUs") For the nine months ended September 30, 2019 , the Company granted target awards of 49,457 PSUs. The measurement period for three-fourths of the PSUs is January 1, 2019 through December 31, 2019, and for the remaining one-fourth of the PSUs is January 1, 2019 through December 31, 2021. The PSUs vest on December 31, 2021. Common Stock of an amount between zero and 200 percent of the PSUs target will be awarded based on the Company’s return on invested capital, consolidated revenue growth, EPS and total return to shareholders relative to the companies in the Russell 2000® Value small cap index. The Company’s return on invested capital, consolidated revenue growth and EPS are adjusted for certain items as further described in the Performance Share Award Agreement. The market price on the date of grant for the PSUs was $69.04 per share. For the nine months ended September 30, 2019 , the Company awarded 36,441 RSUs to certain employees. The weighted average grant date fair value of such awards was $69.09 per share and the one third of the shares will vest on each of the first three anniversaries of the grant date, with certain exceptions for retiring employees. For the nine months ended September 30, 2019 , the Company also awarded 10,056 RSUs to non-employee members of the Board of Directors. The weighted average grant date fair value of such awards was $59.67 per share and the awards vest one year from the date of grant. During the vesting period, the holders of the RSUs are entitled to dividends, but the RSUs do not have voting rights. Generally, the RSUs and PSUs are forfeited in the event the holder is no longer working for the Company on the vesting date. However, under specific circumstances, vesting may be accelerated or reflect pro-rata vesting.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2019
Stockholders' Equity Note [Abstract]
Stockholders' Equity	Stockholders’ Equity Common Stock As of September 30, 2019 and December 31, 2018 , the Company had 16,815,000 shares and 16,859,000 shares of Common Stock outstanding, respectively. In November 2018, the Company's Board of Directors authorized a program for the purchase of up to $25 million of outstanding Common Stock effective January 1, 2019 (the "2019 Stock Purchase Plan"). The program does not require the Company to purchase any specific number of shares and may be suspended or discontinued at any time. Purchases under the 2019 Stock Purchase Plan will be made from time to time in the open market or in privately negotiated transactions in accordance with the requirements of applicable law. The timing and amount of any purchases will depend on share price, market conditions and other factors. The Company also had $25 million repurchase programs in place during the preceding two years that expired in December 2018 (the “2018 Stock Purchase Plan”) and December 2017 (the “2017 Stock Purchase Plan”), respectively. The following table shows shares purchased and value ($ in millions) under the respective stock purchase plans: Nine Months Ended September 30, 2019 2018 Shares Amount Shares Amount 2019 Stock Purchase Plan 79,676 $ 4.9 — $ — 2018 Stock Purchase Plan — — 79,179 6.3 For the nine months ended September 30, 2019, the Company acquired 2,432 shares of Common Stock, at a cost of $0.2 million

Contingencies and Legal Matters

Contingencies and Legal Matters	9 Months Ended
	Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Contingencies and Legal Matters	Contingencies and Legal Matters Litigation The Company is involved in certain legal actions and claims arising in the ordinary course of business. While the outcome of these legal actions and claims cannot be predicted with certainty, it is the opinion of management that the outcome of any such claim which is pending or threatened, either individually or on a combined basis, will not have a material effect on the consolidated financial condition, results of operations or cash flows of the Company. Income Taxes The Company periodically undergoes examination by the IRS, as well as various state and foreign jurisdictions. These tax authorities routinely challenge certain deductions and credits reported by the Company on its income tax returns. No significant tax audit findings are being contested at this time with either the IRS or any state or foreign tax authority. Employees and Labor Relations The Company’s U.S. union employees are represented by the USW. Approximately 50 percent of salaried employees and 80 percent of hourly employees of Neenah Germany are eligible to be represented by the Mining, Chemicals and Energy Trade Union, Industriegewerkschaft Bergbau, Chemie and Energie (the "IG BCE"). In the Netherlands, most of our employees are eligible to be represented by the CNV and the FNV. As of September 30, 2019 , the Company had 96 U.S. employees covered under collective bargaining agreements that have or will expire in the next 12 months. The following table shows the expiration dates of the Company’s various bargaining agreements and the number of employees covered under each of these agreements. Contract Expiration Date Location Union Number of Employees May 2019 (b) Appleton, WI USW 96 April 2020 Eerbeek, Netherlands CNV, FNV (a) August 2020 Neenah Germany IG BCE (a) January 2021 Whiting, WI USW 202 June 2021 Neenah, WI USW 255 July 2021 Munising, MI USW 189 November 2021 Lowville, NY USW 99 (a) Under German and Dutch laws, union membership is voluntary and does not need to be disclosed to the Company. As a result, the number of employees covered by the collective bargaining agreement with the IG BCE, and the CNV and FNV cannot be determined. (b) The Company is currently in negotiations with the USW. Until a new contract is signed, the terms of the previous contract still apply. The Company’s United Kingdom salaried and hourly employees are eligible to participate in Unite the Union ("UNITE") on an individual basis, but not under a collective bargaining agreement.

Leases

Leases	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Leases	Leases Effective January 1, 2019, the Company adopted ASU 2016-02, Leases (Topic 842) using the modified retrospective transition option. The Company also elected the package of transition provisions available for expired or existing contracts, which allowed us to carry forward our historical assessments of (1) whether contracts are or contain leases, (2) lease classification and (3) initial direct costs. The most significant impact was recognition of right-of-use ("ROU") assets of $16.2 million and lease liabilities of $17.0 million on the Condensed Consolidated Balance Sheet as of January 1, 2019. The adoption of this standard did not have a significant effect related to existing leases and, as a result, no cumulative-effect adjustment was needed. The Company also completed the implementation of new processes to assist in the ongoing lease data collection and analysis, and updated its accounting policies and internal controls in connection with the adoption of the new standard. The Company has operating leases for corporate offices, warehouses and certain equipment, with remaining lease terms of up to 11 years , some of which include options to extend the leases for up to five years . The Company determines if an arrangement is a lease at inception. Operating leases with terms greater than 12 months are included in "Lease Right-of-Use Assets", "Lease liabilities payable within one year" and "Noncurrent Lease Liabilities" on the Condensed Consolidated Balance Sheets. As of September 30, 2019 , the Company did not have any material finance leases. Operating lease ROU assets and lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. As most of the Company’s leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of future payments. Lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. The Company’s lease agreements contain lease and non-lease components, which are accounted for as a single lease component. Additionally, for certain equipment leases, the Company applies a portfolio approach to effectively account for the operating lease ROU assets and liabilities. The components of lease expense were as follows: Three Months Ended Nine Months Ended Operating lease cost $ 0.8 $ 2.4 Short-term lease cost 0.3 1.2 Variable lease cost (a) 0.7 1.8 (a) The variable lease costs consist mainly of a warehouse lease where the cost is determined based on the square footage used each month. For the nine months ended September 30, 2019 , the Company paid $2.3 million for amounts included in the measurement of operating lease liabilities. For the nine months ended September 30, 2019 , new ROU assets of $1.2 million were obtained in exchange for operating lease liabilities. As of September 30, 2019 , the weighted average remaining lease term and weighted average discount rate for operating leases were 8.3 years and 4.9% , respectively. Maturities of lease liabilities were as follows: Year Ending December 31, Operating Leases Remainder of 2019 $ 0.4 2020 2.5 2021 2.5 2022 2.3 2023 2.0 Thereafter 9.1 Total lease payments 18.8 Less: Imputed interest 3.8 Total lease liabilities $ 15.0

Sale of Brattleboro Mill and Im

Sale of Brattleboro Mill and Impairment Loss	9 Months Ended
	Sep. 30, 2019
Discontinued Operations and Disposal Groups [Abstract]
Sale of Brattleboro Mill and Impairment Loss	Sale of Brattleboro Mill and Impairment Loss In the second quarter of 2018, as a result of a broad scope review of various initiatives to improve margins and optimize the portfolio of products and manufacturing footprint in the Fine Paper and Packaging segment, the Company determined that the Brattleboro mill was not a strategic part of the Fine Paper and Packaging manufacturing footprint, given the nature of the office supply category. Historically, the Brattleboro mill had manufactured products primarily for the office supply category, and more recently had been adversely impacted by manufacturing inefficiencies due to changes in input costs, product category and grade complexity. Following the review, the Company initiated a process to sell the Brattleboro mill, its business operations and associated research and office facilities ("disposal group"). The disposal transaction did not constitute a strategic shift in the business that would have a major effect on operations of the Company . Upon classifying the disposal group as assets held for sale, the Company tested the individual assets of the disposal group for impairment. The disposal group was measured at fair value (a Level 3 measurement, using unobservable estimates), less costs to sell. During the three months ended June 30, 2018, the Company recorded an estimated non-cash impairment loss of $32.0 million . The impairment loss of $25.1 million , $1.1 million and $5.8 million was reported within the Fine Paper and Packaging, Technical Products and Other business segments, respectively. During the three months ended September 30, 2018, the Company recorded an additional $2.0 million non-cash impairment loss, based on the sale negotiations with a potential buyer, for a total impairment loss of $34.0 million for the nine months ended September 30, 2018. On December 31, 2018, the Company completed the sale of the Brattleboro mill to Long Falls Paperboard, LLC for a purchase price of $5.0 million . In conjunction with the sale, the Company adjusted its previous estimates of the impairment loss to $31.1 million , of which $24.4 million , $1.1 million and $5.6 million was reported within the Fine Paper and Packaging, Technical Products and Other business segments, respectively.

Business Segment Information

Business Segment Information	9 Months Ended
	Sep. 30, 2019
Segment Reporting [Abstract]
Business Segment Information	Business Segment Information Following the disposition of the Brattleboro mill which eliminated a significant portion of the products of the Other business segment, in January 2019 the Company realigned the remaining products manufactured in the Other business segment to be managed as part of the Technical Products business segment. As a result, the Company recast the comparable 2018 information and presented the $4.1 million and $12.3 million of net sales for the three and nine months ended September 30, 2018, respectively, of this remaining portion of the Other business segment within the Technical Products business segment. The 2018 operating income (loss) of the Other business segment was immaterial and was not recast. The Company also recast the total assets by segment and presented the $12.9 million of total assets as of December 31, 2018 of this remaining portion of the Other business segment within the Technical Products business segment. The Company’s reportable operating segments consist of Technical Products, Fine Paper and Packaging and, in the prior year period only, Other. • The Technical Products segment is an aggregation of the Company’s filtration and performance materials businesses which are similar in terms of economic characteristics, nature of products, processes, customer class and product distribution methods. The segment is an international producer of fiber-formed, coated and/or saturated specialized media that deliver high performance benefits to customers. Included in this segment are transportation and other filtration media, tape and abrasives backings products, digital image transfer, durable label and other specialty substrate products. • The Fine Paper and Packaging segment is a leading supplier of premium printing and other high-end specialty papers, and premium packaging, primarily in North America. • The former Other segment was composed of papers sold to converters for end uses such as archival products and stencil board. These product lines represented an operating segment which did not meet the quantitative threshold for a reportable segment, however, due to the dissimilar nature of these products, they were previously not managed as part of either the Fine Paper and Packaging or Technical Products segments. Each segment employs different technologies and marketing strategies. Disclosure of segment information is on the same basis that management uses internally for evaluating segment performance and allocating resources. Transactions between segments are eliminated in consolidation. The costs of shared services, and other administrative functions managed on a common basis, are allocated to the segments based on usage, where possible, or other factors based on the nature of the activity. General corporate expenses that do not directly support the operations of the business segments are shown as Unallocated corporate costs. The following tables summarize the net sales, operating income, and total assets for each of the Company’s business segments. Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Net sales Technical Products $ 131.7 $ 142.3 $ 418.1 $ 449.7 Fine Paper and Packaging 100.1 112.5 306.8 339.9 Other — 1.4 — 4.4 Consolidated $ 231.8 $ 256.2 $ 724.9 $ 794.0 Three Months Ended September 30, Nine Months Ended September 30, 2019 (a) 2018 (b) 2019 (c) 2018 (d) Operating income (loss) Technical Products $ 9.5 $ 10.9 $ 33.3 $ 44.2 Fine Paper and Packaging 13.2 11.3 38.0 15.3 Other — (0.6 ) — (6.8 ) Unallocated corporate costs (3.7 ) (5.1 ) (15.1 ) (16.4 ) Consolidated $ 19.0 $ 16.5 $ 56.2 $ 36.3 (a) Operating income for the three months ended September 30, 2019 included (1) $2.3 million of non-routine costs within Fine Paper and Packaging, related mostly to accelerated depreciation and spare parts inventory reserves related to an idled paper machine; and (2) $0.2 million of pension settlement and restructuring costs within Unallocated corporate costs. Refer to Note 7, "Pension and Other Postretirement Benefits" for discussion on SERP settlement costs. (b) Operating income for the three months ended September 30, 2018 included an impairment loss, acquisition-related adjustments, insurance-related settlement, and restructuring and other non-routine costs of $(2.6) million in Technical Products, $1.9 million in Fine Paper and Packaging, $0.6 million in Other, and $0.8 million in Unallocated corporate costs. Refer to Note 12, "Brattleboro Impairment Loss" for discussion of the $2.0 million impairment loss and Note 1, "Background and Basis of Presentation" for discussion of the $(3.1) million of acquisition-related adjustments related to the Coldenhove Acquisition. (c) Operating income for the nine months ended September 30, 2019 included (1) $5.3 million of non-routine costs within Fine Paper and Packaging, consisting of $4.4 million of accelerated depreciation and spare parts inventory reserves related to an idled paper machine, $0.7 million accrual for a 2012-15 indirect tax audit, and a $0.2 million adjustment primarily related to inventory reserve related to termination of a royalty arrangement; (2) $0.4 million expense within Technical Products, primarily related to a 2016 electricity grid charge; and (3) $0.3 million of pension settlement and restructuring costs within Unallocated corporate costs. Refer to Note 7, "Pension and Other Postretirement Benefits" for discussion on SERP settlement costs. (d) Operating income for the nine months ended September 30, 2018 included the Brattleboro mill impairment loss, pension settlement and other costs, acquisition-related adjustments, restructuring, integration, and other costs, and insurance-related settlement of $(0.8) million in Technical Products, $27.4 million in Fine Paper and Packaging, $6.6 million in Other and $1.6 million in Unallocated corporate costs. Refer to Note 12, "Brattleboro Impairment Loss" for discussion of the $34.0 million impairment loss and $1.2 million of restructuring costs, Note 1, "Background and Basis of Presentation" for discussion of the $(3.1) million acquisition-related adjustments and Note 7, "Pension and Other Postretirement Benefits" for discussion of the $1.8 million cost of withdrawal from the multi-employer pension plan and a settlement loss related to SERP. September 30, 2019 December 31, 2018 Total Assets (a) Technical Products $ 568.3 $ 599.3 Fine Paper and Packaging 219.6 234.7 Corporate (b) 34.5 27.2 Consolidated $ 822.4 $ 861.2 (a) Segment identifiable assets are those that are directly used in the segments operations. (b) Corporate assets are primarily deferred income taxes and lease ROU assets.

Background and Basis of Prese_2

Background and Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Consolidation and Presentation	Basis of Consolidation and Presentation These statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the "SEC") and, in accordance with those rules and regulations, do not include all information and footnote disclosures normally included in annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP"). Management believes that the disclosures made are adequate for a fair presentation of the Company’s results of operations, financial position and cash flows. In the opinion of management, the condensed consolidated financial statements reflect all adjustments, consisting only of normal recurring adjustments, necessary to present fairly the results of operations, financial position and cash flows for the interim periods presented herein. The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make extensive use of estimates and assumptions that affect the reported amounts and disclosures. Actual results may vary from these estimates. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s most recent Annual Report on Form 10-K. The results of operations for any interim period are not necessarily indicative of the results of operations to be expected for the full year. The condensed consolidated financial statements of Neenah and its subsidiaries included herein are unaudited. The condensed consolidated financial statements include the financial statements of the Company and its wholly owned and majority owned subsidiaries. Intercompany balances and transactions have been eliminated.
Earnings per Share (“EPS”)	Earnings per Share ("EPS") The following table presents the computation of basic and diluted EPS (dollars in millions except per share amounts, shares in thousands): Earnings Per Basic Common Share Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Income from continuing operations $ 14.4 $ 12.9 $ 39.8 $ 24.3 Amounts attributable to participating securities (0.1 ) (0.1 ) (0.2 ) (0.3 ) Income from continuing operations available to common stockholders 14.3 12.8 39.6 24.0 Loss from discontinued operations — (0.8 ) — (0.8 ) Net income available to common stockholders $ 14.3 $ 12.0 $ 39.6 $ 23.2 Weighted-average basic shares outstanding 16,837 16,849 16,850 16,848 Continuing operations $ 0.85 $ 0.76 $ 2.35 $ 1.43 Discontinued operations — (0.05 ) — (0.05 ) Basic earnings per share $ 0.85 $ 0.71 $ 2.35 $ 1.38 Earnings Per Diluted Common Share Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Income from continuing operations $ 14.4 $ 12.9 $ 39.8 $ 24.3 Amounts attributable to participating securities (0.1 ) (0.1 ) (0.2 ) (0.3 ) Income from continuing operations available to common stockholders 14.3 12.8 39.6 24.0 Loss from discontinued operations — (0.8 ) — (0.8 ) Net income available to common stockholders $ 14.3 $ 12.0 $ 39.6 $ 23.2 Weighted-average basic shares outstanding 16,837 16,849 16,850 16,848 Add: Assumed incremental shares under stock compensation plans (a) 68 139 60 136 Weighted-average diluted shares 16,905 16,988 16,910 16,984 Continuing operations $ 0.84 $ 0.75 $ 2.33 $ 1.41 Discontinued operations — (0.05 ) — (0.05 ) Diluted earnings per share $ 0.84 $ 0.70 $ 2.33 $ 1.36 (a) For the three months ended September 30, 2019 and 2018 , there were 231,471 and 106,789 potentially dilutive options, respectively, excluded from the computation of dilutive common shares because the exercise price of such options exceeded the average market price of the Company’s Common Stock. For the nine months ended September 30, 2019 and 2018 , there were 231,199 and 143,853 potentially dilutive options, respectively, similarly excluded from the computation of dilutive common shares.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company measures the fair value of financial instruments in accordance with Accounting Standards Codification ("ASC") Topic 820, Fair Value Measurements and Disclosures ("ASC Topic 820") which establishes a framework for measuring fair value. ASC Topic 820 provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements).
Accounting Standard Changes	Accounting Standards Changes As of September 30, 2019 , no amendments to the ASC have been issued that will have or are reasonably likely to have a material effect on the Company’s financial position, results of operations or cash flows.
Revenue From Contract With Customer	The Company recognizes sales revenue at a point in time following the transfer of control of the product to the customer, which typically occurs upon shipment or delivery depending on the terms of the underlying contracts. Sales are reported net of allowable discounts and estimated returns. Reserves for cash discounts, trade allowances and sales returns are estimated using historical experience. The Company accounts for shipping and handling activities related to contracts with customers as costs to fulfill our promise to transfer the associated products. Accordingly, the Company records customer payments of shipping and handling costs as a component of net sales and classifies such costs as a component of cost of sales. The Company excludes tax amounts assessed by governmental authorities that are both (i) imposed on and concurrent with a specific revenue-producing transaction and (ii) collected from customers from our measurement of transaction prices. Accordingly, such tax amounts are not included as a component of net sales or cost of sales. The following tables represent a disaggregation of segment revenue from contracts with customers for the three and nine months ended September 30, 2019 and 2018 . The technical products business is an international producer of fiber-formed, coated and/or saturated specialized media that deliver high performance benefits to customers. Included in this segment are transportation and other filtration media ("Filtration"), tape and abrasives backings products ("Backings"), and digital image transfer, durable label and other specialty substrate products ("Specialty"). Following the disposition of the Brattleboro mill which eliminated a significant portion of the products of the Other business segment, in January 2019 the Company realigned the remaining products manufactured in the Other business segment to be managed as part of the Technical Products business segment. As a result, the Company presented the net sales and operating income for the three and nine months ended September 30, 2019 of this remaining portion of the Other business segment within the Technical Products business segment and recast the comparable 2018 information into Specialty products. Refer to Note 13, "Business Segment Information", for further discussion on the amount recast. Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Filtration 43 % 41 % 42 % 40 % Backings 24 % 27 % 25 % 28 % Specialty 33 % 32 % 33 % 32 % Total 100 % 100 % 100 % 100 % The fine paper and packaging business is a leading supplier of premium printing and other high end specialty papers ("Graphic Imaging"), premium packaging ("Packaging") and specialty office papers ("Filing/Office") primarily in North America. With the sale of the Brattleboro mill in 2018, the Filing/Office category has been eliminated. Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Graphic Imaging 80 % 78 % 79 % 77 % Packaging 20 % 18 % 21 % 19 % Filing/Office — % 4 % — % 4 % Total 100 % 100 % 100 % 100 % The following tables represent a disaggregation of revenue from contracts with customers by location of the selling entities for the three and nine months ended September 30, 2019 and 2018 . Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 United States 72 % 73 % 72 % 72 % Germany 21 % 20 % 21 % 21 % Rest of Europe 7 % 7 % 7 % 7 % Total 100 % 100 % 100 % 100 % The Company considers each transaction/shipment as a separate performance obligation. Neenah recognizes revenue when the title transfers to the customer. As such, the remaining performance obligations at period end are not considered significant. Sales terms in the technical products business vary depending on the type of product sold and customer category. In general, sales are collected in 45 to 55 days. Extended credit terms of up to 120 days are offered to customers located in certain international markets. Fine paper and packaging sales terms range between 20 and 30 days with discounts of 0 to 2% for customer payments, with discounts of 1% and 20 -day terms used most often. Extended credit terms are offered to customers located in certain international markets.
Leases	Effective January 1, 2019, the Company adopted ASU 2016-02, Leases (Topic 842) using the modified retrospective transition option. The Company also elected the package of transition provisions available for expired or existing contracts, which allowed us to carry forward our historical assessments of (1) whether contracts are or contain leases, (2) lease classification and (3) initial direct costs. The most significant impact was recognition of right-of-use ("ROU") assets of $16.2 million and lease liabilities of $17.0 million on the Condensed Consolidated Balance Sheet as of January 1, 2019. The adoption of this standard did not have a significant effect related to existing leases and, as a result, no cumulative-effect adjustment was needed. The Company also completed the implementation of new processes to assist in the ongoing lease data collection and analysis, and updated its accounting policies and internal controls in connection with the adoption of the new standard. The Company has operating leases for corporate offices, warehouses and certain equipment, with remaining lease terms of up to 11 years , some of which include options to extend the leases for up to five years . The Company determines if an arrangement is a lease at inception. Operating leases with terms greater than 12 months are included in "Lease Right-of-Use Assets", "Lease liabilities payable within one year" and "Noncurrent Lease Liabilities" on the Condensed Consolidated Balance Sheets. As of September 30, 2019 , the Company did not have any material finance leases. Operating lease ROU assets and lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. As most of the Company’s leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of future payments. Lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. The Company’s lease agreements contain lease and non-lease components, which are accounted for as a single lease component. Additionally, for certain equipment leases, the Company applies a portfolio approach to effectively account for the operating lease ROU assets and liabilities.
Business Segment Information	The Company’s reportable operating segments consist of Technical Products, Fine Paper and Packaging and, in the prior year period only, Other. • The Technical Products segment is an aggregation of the Company’s filtration and performance materials businesses which are similar in terms of economic characteristics, nature of products, processes, customer class and product distribution methods. The segment is an international producer of fiber-formed, coated and/or saturated specialized media that deliver high performance benefits to customers. Included in this segment are transportation and other filtration media, tape and abrasives backings products, digital image transfer, durable label and other specialty substrate products. • The Fine Paper and Packaging segment is a leading supplier of premium printing and other high-end specialty papers, and premium packaging, primarily in North America. • The former Other segment was composed of papers sold to converters for end uses such as archival products and stencil board. These product lines represented an operating segment which did not meet the quantitative threshold for a reportable segment, however, due to the dissimilar nature of these products, they were previously not managed as part of either the Fine Paper and Packaging or Technical Products segments. Each segment employs different technologies and marketing strategies. Disclosure of segment information is on the same basis that management uses internally for evaluating segment performance and allocating resources. Transactions between segments are eliminated in consolidation. The costs of shared services, and other administrative functions managed on a common basis, are allocated to the segments based on usage, where possible, or other factors based on the nature of the activity. General corporate expenses that do not directly support the operations of the business segments are shown as Unallocated corporate costs.

Background and Basis of Prese_3

Background and Basis of Presentation (Tables)	9 Months Ended
	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of computation of basic and diluted EPS	The following table presents the computation of basic and diluted EPS (dollars in millions except per share amounts, shares in thousands): Earnings Per Basic Common Share Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Income from continuing operations $ 14.4 $ 12.9 $ 39.8 $ 24.3 Amounts attributable to participating securities (0.1 ) (0.1 ) (0.2 ) (0.3 ) Income from continuing operations available to common stockholders 14.3 12.8 39.6 24.0 Loss from discontinued operations — (0.8 ) — (0.8 ) Net income available to common stockholders $ 14.3 $ 12.0 $ 39.6 $ 23.2 Weighted-average basic shares outstanding 16,837 16,849 16,850 16,848 Continuing operations $ 0.85 $ 0.76 $ 2.35 $ 1.43 Discontinued operations — (0.05 ) — (0.05 ) Basic earnings per share $ 0.85 $ 0.71 $ 2.35 $ 1.38 Earnings Per Diluted Common Share Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Income from continuing operations $ 14.4 $ 12.9 $ 39.8 $ 24.3 Amounts attributable to participating securities (0.1 ) (0.1 ) (0.2 ) (0.3 ) Income from continuing operations available to common stockholders 14.3 12.8 39.6 24.0 Loss from discontinued operations — (0.8 ) — (0.8 ) Net income available to common stockholders $ 14.3 $ 12.0 $ 39.6 $ 23.2 Weighted-average basic shares outstanding 16,837 16,849 16,850 16,848 Add: Assumed incremental shares under stock compensation plans (a) 68 139 60 136 Weighted-average diluted shares 16,905 16,988 16,910 16,984 Continuing operations $ 0.84 $ 0.75 $ 2.33 $ 1.41 Discontinued operations — (0.05 ) — (0.05 ) Diluted earnings per share $ 0.84 $ 0.70 $ 2.33 $ 1.36 (a) For the three months ended September 30, 2019 and 2018 , there were 231,471 and 106,789 potentially dilutive options, respectively, excluded from the computation of dilutive common shares because the exercise price of such options exceeded the average market price of the Company’s Common Stock. For the nine months ended September 30, 2019 and 2018 , there were 231,199 and 143,853 potentially dilutive options, respectively, similarly excluded from the computation of dilutive common shares.
Schedule of the carrying value and fair value of the Company's debt	The following table presents the carrying value and the fair value of the Company’s debt. September 30, 2019 December 31, 2018 Carrying Value Fair Value (a) Carrying Value Fair Value (a) 2021 Senior Notes (5.25% fixed rate) $ 175.0 $ 174.3 $ 175.0 $ 170.5 Global Revolving Credit Facilities (variable rates) 25.1 25.1 57.9 57.9 German loan agreement (2.45% fixed rate) 3.7 3.8 4.8 5.1 German loan agreement (1.45% fixed rate) 4.0 4.0 4.9 4.9 Total debt $ 207.8 $ 207.2 $ 242.6 $ 238.4 (a) The fair value for all debt instruments was estimated from Level 2 measurements using rates currently available to the Company for debt of the same remaining maturities.

Revenue From Contracts With C_2

Revenue From Contracts With Customers (Tables)	9 Months Ended
	Sep. 30, 2019
Revenues [Abstract]
Disaggregation of Revenue	The following tables represent a disaggregation of segment revenue from contracts with customers for the three and nine months ended September 30, 2019 and 2018 . The technical products business is an international producer of fiber-formed, coated and/or saturated specialized media that deliver high performance benefits to customers. Included in this segment are transportation and other filtration media ("Filtration"), tape and abrasives backings products ("Backings"), and digital image transfer, durable label and other specialty substrate products ("Specialty"). Following the disposition of the Brattleboro mill which eliminated a significant portion of the products of the Other business segment, in January 2019 the Company realigned the remaining products manufactured in the Other business segment to be managed as part of the Technical Products business segment. As a result, the Company presented the net sales and operating income for the three and nine months ended September 30, 2019 of this remaining portion of the Other business segment within the Technical Products business segment and recast the comparable 2018 information into Specialty products. Refer to Note 13, "Business Segment Information", for further discussion on the amount recast. Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Filtration 43 % 41 % 42 % 40 % Backings 24 % 27 % 25 % 28 % Specialty 33 % 32 % 33 % 32 % Total 100 % 100 % 100 % 100 % The fine paper and packaging business is a leading supplier of premium printing and other high end specialty papers ("Graphic Imaging"), premium packaging ("Packaging") and specialty office papers ("Filing/Office") primarily in North America. With the sale of the Brattleboro mill in 2018, the Filing/Office category has been eliminated. Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Graphic Imaging 80 % 78 % 79 % 77 % Packaging 20 % 18 % 21 % 19 % Filing/Office — % 4 % — % 4 % Total 100 % 100 % 100 % 100 % The following tables represent a disaggregation of revenue from contracts with customers by location of the selling entities for the three and nine months ended September 30, 2019 and 2018 . Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 United States 72 % 73 % 72 % 72 % Germany 21 % 20 % 21 % 21 % Rest of Europe 7 % 7 % 7 % 7 % Total 100 % 100 % 100 % 100 %

Supplemental Balance Sheet Da_2

Supplemental Balance Sheet Data (Tables)	9 Months Ended
	Sep. 30, 2019
Balance Sheet Related Disclosures [Abstract]
Schedule of inventories by major class	The following table presents inventories by major class: September 30, 2019 December 31, 2018 Raw materials $ 32.0 $ 35.6 Work in progress 25.1 30.1 Finished goods 67.2 78.3 Supplies and other 5.1 3.0 129.4 147.0 Adjust FIFO inventories to LIFO cost (10.7 ) (15.4 ) Total $ 118.7 $ 131.6
Schedule of changes in accumulated other comprehensive income	The following table presents changes in accumulated other comprehensive income (loss) ("AOCI") for the nine months ended September 30, 2019 : Net Unrealized Foreign Currency Translation Loss Net Loss from Pension and Other Postretirement Liabilities Accumulated Other Comprehensive Loss AOCI — December 31, 2018 $ (15.5 ) $ (89.6 ) $ (105.1 ) Other comprehensive income (loss) before reclassifications (a) (8.6 ) 5.0 (3.6 ) Amounts reclassified from AOCI — 4.4 4.4 Income (loss) from other comprehensive income items (8.6 ) 9.4 0.8 Provision (benefit) for income taxes (0.2 ) 2.3 2.1 Other comprehensive income (loss) (8.4 ) 7.1 (1.3 ) AOCI — September 30, 2019 $ (23.9 ) $ (82.5 ) $ (106.4 ) (a) For the nine months ended September 30, 2019, the Company recorded a $4.9 million decrease in the employee benefit obligations related to a pension remeasurement in conjunction with the redistribution of active and inactive participants between separate pension plans and a $0.1 million settlement loss related to the SERP.

Income Taxes Effective Income T

Income Taxes Effective Income Tax Rate Reconciliation (Tables)	9 Months Ended
	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Schedule of Effective Income Tax Rate Reconciliation	The following table presents the principal reasons for the difference between the Company's effective income tax (benefit) rate and the U.S. federal statutory income tax (benefit) rate: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 U.S. federal statutory income tax (benefit) rate 21 % 21 % 21 % 21 % U.S. state income taxes (benefit), net of federal income tax effect 1 % — % 1 % (3 )% Foreign tax rate differences and financing structure — % 1 % 1 % 3 % U.S. taxes on foreign earnings 1 % (2 )% 1 % 6 % Change in statutory tax rates — % (3 )% — % (3 )% Research and development and other tax credits (5 )% (10 )% (6 )% (12 )% Excess tax benefits from stock compensation — % (5 )% — % (4 )% Uncertain income tax positions (7 )% 2 % (3 )% 2 % Other differences - net — % (1 )% 1 % (2 )% Effective income tax (benefit) rate 11 % 3 % 16 % 8 %

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Schedule of long-term debt	Long-term debt consisted of the following: September 30, 2019 December 31, 2018 2021 Senior Notes (5.25% fixed rate) due May 2021 $ 175.0 $ 175.0 Global Revolving Credit Facilities (variable rates) due December 2023 25.1 57.9 German loan agreement (2.45% fixed rate) due in quarterly installments ending September 2022 3.7 4.8 German loan agreement (1.45% fixed rate) due in quarterly installments ending March 2023 4.0 4.9 Deferred financing costs (3.2 ) (3.5 ) Total debt 204.6 239.1 Less: Debt payable within one year 2.6 2.3 Long-term debt $ 202.0 $ 236.8

Pension and Other Postretirem_2

Pension and Other Postretirement Benefits (Tables)	9 Months Ended
	Sep. 30, 2019
Retirement Benefits [Abstract]
Schedule of components of net periodic benefit cost for defined benefit plans and postretirement plans other than pensions	The following table presents the components of net periodic benefit cost for the Company’s defined benefit plans and postretirement plans other than pensions: Components of Net Periodic Benefit Cost for Defined Benefit Plans Pension Benefits Postretirement Benefits Other than Pensions Three Months Ended September 30, 2019 2018 2019 2018 Service cost $ 1.2 $ 1.7 $ 0.3 $ 0.3 Interest cost 4.0 3.9 0.3 0.3 Expected return on plan assets (a) (5.4 ) (5.2 ) — — Recognized net actuarial loss 1.1 1.3 0.1 0.1 Amortization of prior service benefit 0.1 — — — Amount of settlement loss recognized 0.1 — — — Net periodic benefit cost $ 1.1 $ 1.7 $ 0.7 $ 0.7 Pension Benefits Postretirement Benefits Other than Pensions Nine Months Ended September 30, 2019 2018 2019 2018 Service cost $ 3.8 $ 5.1 $ 0.9 $ 0.9 Interest cost 12.2 11.8 1.1 0.9 Expected return on plan assets (a) (15.7 ) (15.7 ) — — Recognized net actuarial loss 3.7 3.9 0.5 0.4 Amortization of prior service benefit 0.2 0.1 — (0.1 ) Amount of settlement loss recognized (b) 0.1 0.8 — — Net periodic benefit cost $ 4.3 $ 6.0 $ 2.5 $ 2.1 (a) The expected return on plan assets is determined by multiplying the fair value of plan assets at the prior year-end (adjusted for estimated current year cash benefit payments and contributions) by the expected long-term rate of return. The Dutch pension plan is funded through an insurance contract, and the expected return on plan assets is calculated based on the discount rate of the insured obligations. (b) For the nine months ended September 30, 2019 and 2018, the Company recognized a settlement loss of $0.1 million and $0.8 million , respectively, related to the SERP.

Stock Compensation Plan (Tables

Stock Compensation Plan (Tables)	9 Months Ended
	Sep. 30, 2019
Share-based Payment Arrangement [Abstract]
Schedule of stock options awarded	The following table presents information regarding Options awarded during the nine months ended September 30, 2019 : Options granted 1,272 Per share weighted average exercise price $ 66.59 Per share weighted average grant date fair value $ 10.32
Schedule of assumptions used to determine the grant date fair value of options granted	The weighted-average grant date fair value for Options granted during the nine months ended September 30, 2019 was estimated using the Black-Scholes option valuation model with the following assumptions: Expected term in years 5.0 Risk free interest rate 1.8 % Volatility 23.1 % Dividend yield 3.0 %
Schedule of stock options vested during the period	The following table presents information regarding Options that vested during the nine months ended September 30, 2019 : Options vested 111,615 Aggregate grant date fair value of Options vested (in millions) $ 1.6
Schedule of outstanding stock options	The following table presents information regarding outstanding Options: September 30, 2019 December 31, 2018 Options outstanding 432,406 451,081 Aggregate intrinsic value (in millions) $ 3.2 $ 2.7 Per share weighted average exercise price $ 69.31 $ 67.46 Exercisable Options 333,887 240,903 Aggregate intrinsic value (in millions) $ 3.2 $ 2.6 Unvested Options 98,519 210,178 Per share weighted average grant date fair value $ 14.37 $ 14.21

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2019
Stockholders' Equity Note [Abstract]
Schedule of shares purchased under the respective stock purchase plans	The following table shows shares purchased and value ($ in millions) under the respective stock purchase plans: Nine Months Ended September 30, 2019 2018 Shares Amount Shares Amount 2019 Stock Purchase Plan 79,676 $ 4.9 — $ — 2018 Stock Purchase Plan — — 79,179 6.3

Contingencies and Legal Matte_2

Contingencies and Legal Matters (Tables)	9 Months Ended
	Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Schedule of bargaining agreements	The following table shows the expiration dates of the Company’s various bargaining agreements and the number of employees covered under each of these agreements. Contract Expiration Date Location Union Number of Employees May 2019 (b) Appleton, WI USW 96 April 2020 Eerbeek, Netherlands CNV, FNV (a) August 2020 Neenah Germany IG BCE (a) January 2021 Whiting, WI USW 202 June 2021 Neenah, WI USW 255 July 2021 Munising, MI USW 189 November 2021 Lowville, NY USW 99 (a) Under German and Dutch laws, union membership is voluntary and does not need to be disclosed to the Company. As a result, the number of employees covered by the collective bargaining agreement with the IG BCE, and the CNV and FNV cannot be determined. (b) The Company is currently in negotiations with the USW. Until a new contract is signed, the terms of the previous contract still apply.

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Lease, Cost	The components of lease expense were as follows: Three Months Ended Nine Months Ended Operating lease cost $ 0.8 $ 2.4 Short-term lease cost 0.3 1.2 Variable lease cost (a) 0.7 1.8 (a) The variable lease costs consist mainly of a warehouse lease where the cost is determined based on the square footage used each month.
Lessee, Operating Lease, Liability, Maturity	Maturities of lease liabilities were as follows: Year Ending December 31, Operating Leases Remainder of 2019 $ 0.4 2020 2.5 2021 2.5 2022 2.3 2023 2.0 Thereafter 9.1 Total lease payments 18.8 Less: Imputed interest 3.8 Total lease liabilities $ 15.0

Business Segment Information (T

Business Segment Information (Tables)	9 Months Ended
	Sep. 30, 2019
Segment Reporting [Abstract]
Schedule of net sales and operating income for each of the Company's business segment	The following tables summarize the net sales, operating income, and total assets for each of the Company’s business segments. Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Net sales Technical Products $ 131.7 $ 142.3 $ 418.1 $ 449.7 Fine Paper and Packaging 100.1 112.5 306.8 339.9 Other — 1.4 — 4.4 Consolidated $ 231.8 $ 256.2 $ 724.9 $ 794.0 Three Months Ended September 30, Nine Months Ended September 30, 2019 (a) 2018 (b) 2019 (c) 2018 (d) Operating income (loss) Technical Products $ 9.5 $ 10.9 $ 33.3 $ 44.2 Fine Paper and Packaging 13.2 11.3 38.0 15.3 Other — (0.6 ) — (6.8 ) Unallocated corporate costs (3.7 ) (5.1 ) (15.1 ) (16.4 ) Consolidated $ 19.0 $ 16.5 $ 56.2 $ 36.3 (a) Operating income for the three months ended September 30, 2019 included (1) $2.3 million of non-routine costs within Fine Paper and Packaging, related mostly to accelerated depreciation and spare parts inventory reserves related to an idled paper machine; and (2) $0.2 million of pension settlement and restructuring costs within Unallocated corporate costs. Refer to Note 7, "Pension and Other Postretirement Benefits" for discussion on SERP settlement costs. (b) Operating income for the three months ended September 30, 2018 included an impairment loss, acquisition-related adjustments, insurance-related settlement, and restructuring and other non-routine costs of $(2.6) million in Technical Products, $1.9 million in Fine Paper and Packaging, $0.6 million in Other, and $0.8 million in Unallocated corporate costs. Refer to Note 12, "Brattleboro Impairment Loss" for discussion of the $2.0 million impairment loss and Note 1, "Background and Basis of Presentation" for discussion of the $(3.1) million of acquisition-related adjustments related to the Coldenhove Acquisition. (c) Operating income for the nine months ended September 30, 2019 included (1) $5.3 million of non-routine costs within Fine Paper and Packaging, consisting of $4.4 million of accelerated depreciation and spare parts inventory reserves related to an idled paper machine, $0.7 million accrual for a 2012-15 indirect tax audit, and a $0.2 million adjustment primarily related to inventory reserve related to termination of a royalty arrangement; (2) $0.4 million expense within Technical Products, primarily related to a 2016 electricity grid charge; and (3) $0.3 million of pension settlement and restructuring costs within Unallocated corporate costs. Refer to Note 7, "Pension and Other Postretirement Benefits" for discussion on SERP settlement costs. (d) Operating income for the nine months ended September 30, 2018 included the Brattleboro mill impairment loss, pension settlement and other costs, acquisition-related adjustments, restructuring, integration, and other costs, and insurance-related settlement of $(0.8) million in Technical Products, $27.4 million in Fine Paper and Packaging, $6.6 million in Other and $1.6 million in Unallocated corporate costs. Refer to Note 12, "Brattleboro Impairment Loss" for discussion of the $34.0 million impairment loss and $1.2 million of restructuring costs, Note 1, "Background and Basis of Presentation" for discussion of the $(3.1) million acquisition-related adjustments and Note 7, "Pension and Other Postretirement Benefits" for discussion of the $1.8 million cost of withdrawal from the multi-employer pension plan and a settlement loss related to SERP. September 30, 2019 December 31, 2018 Total Assets (a) Technical Products $ 568.3 $ 599.3 Fine Paper and Packaging 219.6 234.7 Corporate (b) 34.5 27.2 Consolidated $ 822.4 $ 861.2 (a) Segment identifiable assets are those that are directly used in the segments operations. (b) Corporate assets are primarily deferred income taxes and lease ROU assets.

Background and Basis of Prese_4

Background and Basis of Presentation - EPS (Details) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019USD ($)$ / sharesshares	Sep. 30, 2018USD ($)$ / sharesshares	Sep. 30, 2019USD ($)primary_operation$ / sharesshares	Sep. 30, 2018USD ($)$ / sharesshares
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of primary operations | primary_operation			2
Earnings (Loss) Per Basic Common Share
Income from continuing operations	$ 14.4	$ 12.9	$ 39.8	$ 24.3
Amounts attributable to participating securities	(0.1)	(0.1)	(0.2)	(0.3)
Income from continuing operations available to common stockholders	14.3	12.8	39.6	24
Loss from discontinued operations	0	(0.8)	0	(0.8)
Net income available to common stockholders	$ 14.3	$ 12	$ 39.6	$ 23.2
Weighted-average basic shares outstanding (in shares) | shares	16,837,000	16,849,000	16,850,000	16,848,000
Continuing operations (in usd per share) | $ / shares	$ 0.85	$ 0.76	$ 2.35	$ 1.43
Discontinued operations (in usd per share) | $ / shares	0	(0.05)	0	(0.05)
Basic (in usd per share) | $ / shares	$ 0.85	$ 0.71	$ 2.35	$ 1.38
Earnings (Loss) Per Diluted Common Share
Income from continuing operations	$ 14.4	$ 12.9	$ 39.8	$ 24.3
Amounts attributable to participating securities	(0.1)	(0.1)	(0.2)	(0.3)
Income from continuing operations available to common stockholders	14.3	12.8	39.6	24
Loss from discontinued operations	0	(0.8)	0	(0.8)
Net income available to common stockholders	$ 14.3	$ 12	$ 39.6	$ 23.2
Weighted-average diluted shares
Weighted-average basic shares outstanding (in shares) | shares	16,837,000	16,849,000	16,850,000	16,848,000
Add: Assumed incremental shares under stock compensation plans (in shares) | shares	68,000	139,000	60,000	136,000
Weighted-average diluted shares (in shares) | shares	16,905,000	16,988,000	16,910,000	16,984,000
Continuing operations (in usd per share) | $ / shares	$ 0.84	$ 0.75	$ 2.33	$ 1.41
Discontinued operations (in usd per share) | $ / shares	0	(0.05)	0	(0.05)
Diluted (in usd per share) | $ / shares	$ 0.84	$ 0.70	$ 2.33	$ 1.36
Potentially dilutive stock-based compensation awards excluded from computation of dilutive common shares (in shares) | shares	231,471	106,789	231,199	143,853

Background and Basis of Prese_5

Background and Basis of Presentation - Fair Value (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Senior notes | 2021 Senior Notes (5.25% fixed rate)
Fair Value of Financial Instruments
Fixed rate of interest	5.25%
Secured debt | German loan agreement (2.45% fixed rate)
Fair Value of Financial Instruments
Fixed rate of interest	2.45%
Secured debt | German loan agreement (1.45% fixed rate)
Fair Value of Financial Instruments
Fixed rate of interest	1.45%
Carrying Value
Fair Value of Financial Instruments
Total debt	$ 207.8	$ 242.6
Carrying Value | Senior notes | 2021 Senior Notes (5.25% fixed rate)
Fair Value of Financial Instruments
Total debt	175	175
Carrying Value | Secured debt | Global Revolving Credit Facilities (variable rates)
Fair Value of Financial Instruments
Total debt	25.1	57.9
Carrying Value | Secured debt | German loan agreement (2.45% fixed rate)
Fair Value of Financial Instruments
Total debt	3.7	4.8
Carrying Value | Secured debt | German loan agreement (1.45% fixed rate)
Fair Value of Financial Instruments
Total debt	4	4.9
Level 2 | Fair Value
Fair Value of Financial Instruments
Total debt	207.2	238.4
Level 2 | Fair Value | Senior notes | 2021 Senior Notes (5.25% fixed rate)
Fair Value of Financial Instruments
Total debt	174.3	170.5
Level 2 | Fair Value | Secured debt | Global Revolving Credit Facilities (variable rates)
Fair Value of Financial Instruments
Total debt	25.1	57.9
Level 2 | Fair Value | Secured debt | German loan agreement (2.45% fixed rate)
Fair Value of Financial Instruments
Total debt	3.8	5.1
Level 2 | Fair Value | Secured debt | German loan agreement (1.45% fixed rate)
Fair Value of Financial Instruments
Total debt	$ 4	$ 4.9

Background and Basis of Prese_6

Background and Basis of Presentation - Marketable Securities (Details) $ in Millions	Sep. 30, 2019USD ($)
United States
Marketable securities
Cost of marketable securities	$ 4.3
United States | Fair Value | Level 1 | Other Assets
Marketable securities
Fair value of marketable securities	3.9
Germany | Pension Benefits
Held to maturity
Investments restricted to the payment of post-retirement employee benefits	1.8
Germany | Other Assets | Pension Benefits
Held to maturity
Investments restricted to the payment of post-retirement employee benefits	1.2
Germany | Prepaid Expenses and Other Current Assets | Pension Benefits
Held to maturity
Investments restricted to the payment of post-retirement employee benefits	$ 0.6

Background and Basis of Prese_7

Background and Basis of Presentation - Acquisitions (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Business Acquisition [Line Items]
Acquisition-related adjustments	$ 0	$ 3.1	$ 0	$ 3.1
Coldenhove
Business Acquisition [Line Items]
Acquisition-related adjustments		$ 3.1		$ 3.1

Background and Basis of Prese_8

Background and Basis of Presentation - Discontinued Operations (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Additional loss on sale	$ 0	$ 0.8	$ 0	$ 0.8
Lahnstein Mill
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Additional loss on sale		$ 0.8

Revenue From Contracts With C_3

Revenue From Contracts With Customers - Disaggregation Of Revenue (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers, payment term, discount, percent	1.00%		1.00%
Revenue from contracts with customers, payment term, discount, days			20 days
Minimum
Disaggregation of Revenue [Line Items]
Accounts receivable, days sales outstanding			45 days
Maximum
Disaggregation of Revenue [Line Items]
Accounts receivable, days sales outstanding			55 days
International
Disaggregation of Revenue [Line Items]
Accounts receivable, customer credit terms			120 days
Fine Paper and Packaging | Minimum
Disaggregation of Revenue [Line Items]
Accounts receivable, days sales outstanding			20 days
Revenue from contracts with customers, payment term, discount, percent	0.00%		0.00%
Fine Paper and Packaging | Maximum
Disaggregation of Revenue [Line Items]
Accounts receivable, days sales outstanding			30 days
Revenue from contracts with customers, payment term, discount, percent	2.00%		2.00%
Revenue from Contract with Customer
Disaggregation of Revenue [Line Items]
Concentration risk, percentage	100.00%	100.00%	100.00%	100.00%
Revenue from Contract with Customer | Technical Products
Disaggregation of Revenue [Line Items]
Concentration risk, percentage	100.00%	100.00%	100.00%	100.00%
Revenue from Contract with Customer | Fine Paper and Packaging
Disaggregation of Revenue [Line Items]
Concentration risk, percentage	100.00%	100.00%	100.00%	100.00%
Product Concentration Risk | Revenue from Contract with Customer | United States
Disaggregation of Revenue [Line Items]
Concentration risk, percentage	72.00%	73.00%	72.00%	72.00%
Product Concentration Risk | Revenue from Contract with Customer | Germany
Disaggregation of Revenue [Line Items]
Concentration risk, percentage	21.00%	20.00%	21.00%	21.00%
Product Concentration Risk | Revenue from Contract with Customer | Rest of Europe
Disaggregation of Revenue [Line Items]
Concentration risk, percentage	7.00%	7.00%	7.00%	7.00%
Product Concentration Risk | Revenue from Contract with Customer | Technical Products | Filtration
Disaggregation of Revenue [Line Items]
Concentration risk, percentage	43.00%	41.00%	42.00%	40.00%
Product Concentration Risk | Revenue from Contract with Customer | Technical Products | Backings
Disaggregation of Revenue [Line Items]
Concentration risk, percentage	24.00%	27.00%	25.00%	28.00%
Product Concentration Risk | Revenue from Contract with Customer | Technical Products | Specialty
Disaggregation of Revenue [Line Items]
Concentration risk, percentage	33.00%	32.00%	33.00%	32.00%
Product Concentration Risk | Revenue from Contract with Customer | Fine Paper and Packaging | Graphic Imaging
Disaggregation of Revenue [Line Items]
Concentration risk, percentage	80.00%	78.00%	79.00%	77.00%
Product Concentration Risk | Revenue from Contract with Customer | Fine Paper and Packaging | Packaging
Disaggregation of Revenue [Line Items]
Concentration risk, percentage	20.00%	18.00%	21.00%	19.00%
Product Concentration Risk | Revenue from Contract with Customer | Fine Paper and Packaging | Filing/Office
Disaggregation of Revenue [Line Items]
Concentration risk, percentage	0.00%	4.00%	0.00%	4.00%

Supplemental Balance Sheet Da_3

Supplemental Balance Sheet Data - Inventories (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019	Dec. 31, 2018
Inventory [Line Items]
Defined Benefit Plan, Benefit Obligation, (Increase) Decrease for Remeasurement due to Settlement		$ (0.1)
Inventories by major class:
Raw materials	$ 32	32	$ 35.6
Work in progress	25.1	25.1	30.1
Finished goods	67.2	67.2	78.3
Supplies and other	5.1	5.1	3
Inventories, gross	129.4	129.4	147
Adjust FIFO inventories to LIFO cost	(10.7)	(10.7)	(15.4)
Total	118.7	118.7	131.6
FIFO values of inventories valued on the LIFO method	103.3	$ 103.3	$ 109.1
Maximum
Inventories by major class:
Decrease in LIFO inventory (less than)	$ 0.1

Supplemental Balance Sheet Da_4

Supplemental Balance Sheet Data - AOCI (Details) - USD ($) $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Sep. 30, 2019	Sep. 30, 2018
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at the beginning of the period	$ 406.5	$ 394.2	$ 390.2	$ 392.5	$ 412.2	$ 399.9	$ 390.2	$ 399.9
Other comprehensive income (loss) before reclassifications							(3.6)
Amounts reclassified from AOCI							4.4
Income (loss) from other comprehensive income items	(5.5)			0.8			0.8	0.8
Provision (benefit) for income taxes	0.3			0.4			2.1	1.5
Other comprehensive income (loss)	(5.8)	6.2	(1.7)	0.4	(8.4)	7.3	(1.3)	(0.7)
Balance at the end of the period	405.5	406.5	394.2	399.1	392.5	412.2	405.5	399.1
Decrease in employee benefit obligation							4.9
Settlement loss							0.1
Income tax benefit	(1.8)			(0.4)			(7.4)	(2.2)
Accumulated Other Comprehensive Loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Amounts reclassified from AOCI							4.4	4.5
Income tax benefit							1.1	1.1
Net Unrealized Foreign Currency Translation Loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at the beginning of the period			(15.5)				(15.5)
Other comprehensive income (loss) before reclassifications							(8.6)
Amounts reclassified from AOCI							0
Income (loss) from other comprehensive income items							(8.6)
Provision (benefit) for income taxes							(0.2)
Other comprehensive income (loss)							(8.4)
Balance at the end of the period	(23.9)						(23.9)
Net Loss from Pension and Other Postretirement Liabilities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at the beginning of the period			(89.6)				(89.6)
Other comprehensive income (loss) before reclassifications							5
Amounts reclassified from AOCI							4.4
Income (loss) from other comprehensive income items							9.4
Provision (benefit) for income taxes							2.3
Other comprehensive income (loss)							7.1
Balance at the end of the period	(82.5)						(82.5)
Accumulated Other Comprehensive Loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at the beginning of the period	(100.6)	(106.8)	(105.1)	(94.9)	(86.5)	(94.1)	(105.1)	(94.1)
Other comprehensive income (loss)	(5.8)	6.2	(1.7)	0.4	(8.4)	7.3
Balance at the end of the period	$ (106.4)	$ (100.6)	$ (106.8)	$ (94.5)	$ (94.9)	$ (86.5)	$ (106.4)	$ (94.5)

Income Taxes - Narrative (Deta

Income Taxes - Narrative (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended		12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Jun. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Effective income tax rate reconciliation, percent	11.00%	3.00%		16.00%	8.00%
Unrecognized tax benefits reduction resulting from lapse of applicable statute of limitations	$ 1.2			$ 1.2
Investments, Owned, Federal Income Tax Note [Line Items]
Impairment loss (Note 12)	$ 0	$ 2		$ 0	$ 34
Brattleboro Mill And Associated Research And Office Facilities | Disposal Group, Held-for-sale or Disposed of by Sale, Not Discontinued Operations
Investments, Owned, Federal Income Tax Note [Line Items]
Impairment loss (Note 12)		$ 2	$ 32		$ 34	$ 31.1

Income Taxes - Effective Income

Income Taxes - Effective Income Tax Rate Reconciliation (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Income Tax Disclosure [Abstract]
U.S. federal statutory income tax (benefit) rate	21.00%	21.00%	21.00%	21.00%
U.S. state income taxes (benefit), net of federal income tax effect	1.00%	0.00%	1.00%	(3.00%)
Foreign tax rate differences and financing structure	0.00%	1.00%	1.00%	3.00%
U.S. taxes on foreign earnings	1.00%	(2.00%)	1.00%	6.00%
Change in statutory tax rates	0.00%	(3.00%)	0.00%	(3.00%)
Research and development and other tax credits	(5.00%)	(10.00%)	(6.00%)	(12.00%)
Excess tax benefits from stock compensation	0.00%	(5.00%)	0.00%	(4.00%)
Uncertain income tax positions	(7.00%)	2.00%	(3.00%)	2.00%
Other differences - net	0.00%	(1.00%)	1.00%	(2.00%)
Effective income tax (benefit) rate	11.00%	3.00%	16.00%	8.00%

Debt - Schedule of Debt (Detai

Debt - Schedule of Debt (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Principal Payments
Total debt	$ 204.6	$ 239.1
Deferred financing costs	(3.2)	(3.5)
Less: Debt payable within one year	2.6	2.3
Long-term debt	$ 202	236.8
Senior notes | 2021 Senior Notes (5.25% fixed rate) due May 2021
Principal Payments
Fixed rate of interest	5.25%
Total debt	$ 175	175
Line of credit | Global Revolving Credit Facilities (variable rates) due December 2023
Principal Payments
Total debt	$ 25.1	57.9
Secured debt | German loan agreement (2.45% fixed rate) due in quarterly installments ending September 2022
Principal Payments
Fixed rate of interest	2.45%
Total debt	$ 3.7	4.8
Secured debt | German loan agreement (1.45% fixed rate)
Principal Payments
Fixed rate of interest	1.45%
Total debt	$ 4	$ 4.9

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($)	1 Months Ended	9 Months Ended
	May 31, 2013	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Principal Payments
Total debt		$ 204,600,000		$ 239,100,000
Scheduled debt repayment		1,600,000	$ 1,000,000
Repayments of debt		31,700,000	$ 3,800,000
Global Revolving Credit Facilities (variable rates)
Principal Payments
Letters of credit outstanding		500,000
Available credit		$ 176,300,000
Weighted-average interest rate (as a percent)		1.30%		2.90%
Senior notes | 2021 Senior Notes (5.25% fixed rate)
Principal Payments
Total term of notes	8 years
Face amount	$ 175,000,000
Total debt		$ 175,000,000		$ 175,000,000
Line of credit | Global Revolving Credit Facilities (variable rates)
Principal Payments
Total debt		$ 25,100,000		$ 57,900,000

Pension and Other Postretirem_3

Pension and Other Postretirement Benefits (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Pension and other postretirement benefits
Amount of settlement loss recognized	$ 0.1	$ 0	$ 0.1	$ 1.8
Pension Benefits
Pension and other postretirement benefits
Service cost	1.2	1.7	3.8	5.1
Interest cost	4	3.9	12.2	11.8
Expected return on plan assets	(5.4)	(5.2)	(15.7)	(15.7)
Recognized net actuarial loss	1.1	1.3	3.7	3.9
Amortization of prior service benefit	0.1	0	0.2	0.1
Amount of settlement loss recognized	0.1	0	0.1	0.8
Net periodic benefit cost	1.1	1.7	4.3	6
Postretirement Benefits Other than Pensions
Pension and other postretirement benefits
Service cost	0.3	0.3	0.9	0.9
Interest cost	0.3	0.3	1.1	0.9
Expected return on plan assets	0	0	0	0
Recognized net actuarial loss	0.1	0.1	0.5	0.4
Amortization of prior service benefit	0	0	0	(0.1)
Amount of settlement loss recognized	0	0	0	0
Net periodic benefit cost	$ 0.7	$ 0.7	$ 2.5	$ 2.1

Pension and Other Postretirem_4

Pension and Other Postretirement Benefits - Narrative (Details) $ in Thousands, € in Millions	1 Months Ended	3 Months Ended	9 Months Ended		12 Months Ended
	Jun. 30, 2018USD ($)	Dec. 31, 2019EUR (€)	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)	Dec. 31, 2018USD ($)
Pension and other postretirement benefits
Aggregate contributions to qualified and non-qualified pension trusts and payments of pension benefits for unfunded pension plans			$ 9,700	$ 21,500	$ 23,100
Pension Benefits
Pension and other postretirement benefits
Expected 2019 aggregate contributions to qualified and non-qualified pension trusts and payments of pension benefits for unfunded pension plans			14,700
Pace Industry Union-Management Pension Fund
Pension and other postretirement benefits
Liability for plan withdrawal	$ 1,000
Multiemployer plan minimum contribution	$ 100
Minimum contribution period	20 years
Risk Free Interest Rate | Pace Industry Union-Management Pension Fund
Pension and other postretirement benefits
Multiemployer plans withdrawal liability measurement input	0.057
Minimum
Pension and other postretirement benefits
Accumulated funding deficiency demand liability			1,000
Maximum
Pension and other postretirement benefits
Accumulated funding deficiency demand liability			$ 1,250
Netherlands | Scenario, Forecast | Subsequent Event | Dutch Defined Benefit Plan | Pension Benefits
Pension and other postretirement benefits
Expected curtailment gain | €		€ 1.7

Stock Compensation Plan (Detail

Stock Compensation Plan (Details) - USD ($) $ / shares in Units, $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2018
Options
Stock options awarded
Options granted (in shares)				1,272
Per share weighted average exercise price (in usd per share)				$ 66.59
Per share weighted average grant date fair value (in usd per share)				$ 10.32
Fair value assumptions
Expected term in years				5 years
Risk free interest rate				1.80%
Volatility				23.10%
Dividend yield				3.00%
Stock options and Stock Appreciation Rights vested
Options vested (in shares)				111,615
Aggregate grant date fair value of Options vested				$ 1.6
Outstanding Stock Options and Stock Appreciation Rights
Options outstanding (in shares)				432,406	451,081
Aggregate intrinsic value (in millions)				$ 3.2	$ 2.7
Per share weighted average exercise price (in usd per share)				$ 69.31	$ 67.46
Exercisable Options (in shares)				333,887	240,903
Aggregate intrinsic value (in millions)				$ 3.2	$ 2.6
Unvested Options (in shares)				98,519	210,178
Per share weighted average grant date fair value (in usd per share)				$ 14.37	$ 14.21
Performance Share Units ("PSUs")
Additional disclosures
Granted (in shares)				49,457
Percentage of target to be awarded, low end of range (not less than)				0.00%
Percentage of target to be awarded, high end of range (not more than)				200.00%
Market price at grant date of performance units (in usd per share)				$ 69.04
Employees | Restricted Stock Units (RSUs)
Additional disclosures
Granted (in shares)				36,441
Equity instruments other than options, weighted average grant date fair value (in usd per share)				$ 69.09
Employees | Scenario, Forecast | Vesting Tranche One | Restricted Stock Units (RSUs)
Additional disclosures
Award vesting rights			33.00%
Employees | Scenario, Forecast | Vesting Tranche Two | Restricted Stock Units (RSUs)
Additional disclosures
Award vesting rights		33.00%
Employees | Scenario, Forecast | Vesting Tranche Three | Restricted Stock Units (RSUs)
Additional disclosures
Award vesting rights	33.00%
Director | Restricted Stock Units (RSUs)
Additional disclosures
Granted (in shares)				10,056
Equity instruments other than options, weighted average grant date fair value (in usd per share)				$ 59.67
Award vesting period				1 year

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($)	3 Months Ended					9 Months Ended
	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Mar. 31, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018	Nov. 30, 2018	Dec. 31, 2017
Stockholders' equity
Common stock, outstanding shares (in shares)	16,815,000					16,815,000		16,859,000
Shares purchased (Note 9)	$ 2,900,000	$ 1,600,000	$ 300,000	$ 1,000,000	$ 5,300,000
Stock acquired (in shares)						2,432
Maximum
Stockholders' equity
Stock acquired						$ 200,000
2019 Stock Purchase Plan
Stockholders' equity
Common stock purchased under the stock purchase plan (in shares)						79,676	0
Shares purchased (Note 9)						$ 4,900,000	$ 0
2019 Stock Purchase Plan | Maximum
Stockholders' equity
Authorized amount of repurchase under the stock purchase plan (up to)									$ 25,000,000
2018 Stock Purchase Plan
Stockholders' equity
Common stock purchased under the stock purchase plan (in shares)						0	79,179
Shares purchased (Note 9)						$ 0	$ 6,300,000
2018 Stock Purchase Plan | Maximum
Stockholders' equity
Authorized amount of repurchase under the stock purchase plan (up to)								$ 25,000,000
2017 Stock Purchase Plan | Maximum
Stockholders' equity
Authorized amount of repurchase under the stock purchase plan (up to)										$ 25,000,000

Contingencies and Legal Matte_3

Contingencies and Legal Matters (Details)	9 Months Ended
	Sep. 30, 2019employee
Workforce Subject to Collective Bargaining Arrangements Expiring within One Year
Concentrations
Number of Employees	96
IG BCE | Germany | Workforce Subject to Collective Bargaining Arrangements
Concentrations
Percentage of salaried employees eligible to be represented by Mining, Chemicals and Energy Trade Union (IG BCE)	50.00%
Percentage of hourly employees eligible to be represented by Mining, Chemicals and Energy Trade Union (IG BCE)	80.00%
USW | Appleton, WI | May 2019 | Workforce Subject to Collective Bargaining Arrangements Expiring within One Year
Concentrations
Number of Employees	96
USW | Whiting, WI | January 2021 | Workforce Subject to Collective Bargaining Arrangements
Concentrations
Number of Employees	202
USW | Neenah, WI | June 2021 | Workforce Subject to Collective Bargaining Arrangements
Concentrations
Number of Employees	255
USW | Munising, MI | July 2021 | Workforce Subject to Collective Bargaining Arrangements
Concentrations
Number of Employees	189
USW | Lowville, NY | November 2021 | Workforce Subject to Collective Bargaining Arrangements
Concentrations
Number of Employees	99

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2019	Jan. 01, 2019
Lessee, Lease, Description [Line Items]
Lease right-of-use assets	$ 14.2
Operating lease liability	$ 15
Lease remaining term of contract	11 years
Operating cash flows from operating leases	$ 2.3
Right-of-use assets obtained in exchange for operating lease obligations	$ 1.2
Weighted average remaining lease term	8 years 3 months 18 days
Weighted average discount rate	4.90%
Maximum
Lessee, Lease, Description [Line Items]
Lease extension term	5 years
Accounting Standards Update 2016-02
Lessee, Lease, Description [Line Items]
Lease right-of-use assets		$ 16.2
Operating lease liability		$ 17

Leases - Lease Costs and Assump

Leases - Lease Costs and Assumptions (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019
Leases [Abstract]
Operating lease cost	$ 0.8	$ 2.4
Short-term lease cost	0.3	1.2
Variable lease cost	$ 0.7	$ 1.8

Leases - Operating Lease Maturi

Leases - Operating Lease Maturity Schedule (Details) $ in Millions	Sep. 30, 2019USD ($)
Leases [Abstract]
Remainder of 2019	$ 0.4
2020	2.5
2021	2.5
2022	2.3
2023	2
Thereafter	9.1
Total lease payments	18.8
Imputed interest	3.8
Total lease liabilities	$ 15

Sale of Brattleboro Mill and _2

Sale of Brattleboro Mill and Impairment Loss (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended		12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Jun. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment loss	$ 0	$ 2		$ 0	$ 34
Brattleboro Mill And Associated Research And Office Facilities | Disposal Group, Held-for-sale or Disposed of by Sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment loss		$ 2	$ 32		$ 34	$ 31.1
Cash proceeds from sale of mill						5
Fine Paper and Packaging | Brattleboro Mill And Associated Research And Office Facilities | Disposal Group, Held-for-sale or Disposed of by Sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment loss			25.1			24.4
Technical Products | Brattleboro Mill And Associated Research And Office Facilities | Disposal Group, Held-for-sale or Disposed of by Sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment loss			1.1			1.1
Other | Brattleboro Mill And Associated Research And Office Facilities | Disposal Group, Held-for-sale or Disposed of by Sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment loss			$ 5.8			$ 5.6

Business Segment Information (D

Business Segment Information (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended		12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Jun. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Business segment
Net sales	$ 231.8	$ 256.2		$ 724.9	$ 794
Operating income (loss)	19	16.5		56.2	36.3
Impairment loss (Note 12)	0	2		0	34
Acquisition-related adjustments	0	3.1		0	3.1
Withdrawal obligation and settlement loss					1.8
Total Assets	822.4			822.4		$ 861.2
Unallocated corporate costs
Business segment
Operating income (loss)	(3.7)	(5.1)		(15.1)	(16.4)
Impairment loss, restructuring costs, pension settlement costs, business integration costs and acquisitions related adjustments	0.8				1.6
Pension settlement and restructuring costs	0.2			0.3
Total Assets	34.5			34.5		27.2
Technical Products | Operating segments
Business segment
Net sales	131.7	142.3		418.1	449.7
Operating income (loss)	9.5	10.9		33.3	44.2
Impairment loss, restructuring costs, pension settlement costs, business integration costs and acquisitions related adjustments	(2.6)				(0.8)
Electricity grid charge				0.4
Total Assets	568.3			568.3		599.3
Fine Paper and Packaging | Operating segments
Business segment
Net sales	100.1	112.5		306.8	339.9
Operating income (loss)	13.2	11.3		38	15.3
Non-routine costs	2.3			5.3
Impairment loss, restructuring costs, pension settlement costs, business integration costs and acquisitions related adjustments	1.9				27.4
Accelerated depreciation and inventory reserves				4.4
Accrual for indirect tax audit				0.7
Inventory reserve				0.2
Total Assets	219.6			219.6		234.7
Other | Operating segments
Business segment
Net sales	0	1.4		0	4.4
Operating income (loss)	0	(0.6)		$ 0	(6.8)
Impairment loss, restructuring costs, pension settlement costs, business integration costs and acquisitions related adjustments	$ 0.6				6.6
Restatement Adjustment | Other | Operating segments
Business segment
Net sales		(4.1)			(12.3)
Total Assets						(12.9)
Brattleboro Mill And Associated Research And Office Facilities | Disposal Group, Held-for-sale or Disposed of by Sale, Not Discontinued Operations
Business segment
Impairment loss (Note 12)		2	$ 32		34	31.1
Restructuring costs					1.2
Brattleboro Mill And Associated Research And Office Facilities | Disposal Group, Held-for-sale or Disposed of by Sale, Not Discontinued Operations | Technical Products
Business segment
Impairment loss (Note 12)			1.1			1.1
Brattleboro Mill And Associated Research And Office Facilities | Disposal Group, Held-for-sale or Disposed of by Sale, Not Discontinued Operations | Fine Paper and Packaging
Business segment
Impairment loss (Note 12)			25.1			24.4
Brattleboro Mill And Associated Research And Office Facilities | Disposal Group, Held-for-sale or Disposed of by Sale, Not Discontinued Operations | Other
Business segment
Impairment loss (Note 12)			$ 5.8			$ 5.6
Coldenhove
Business segment
Acquisition-related adjustments		$ 3.1			$ 3.1

Uncategorized Items - np2019093

Label	Element	Value
Accounting Standards Update 2016-01 [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 0
Accounting Standards Update 2016-01 [Member] | Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	(300,000)
Accounting Standards Update 2016-01 [Member] | AOCI Attributable to Parent [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	300,000
Accounting Standards Update 2018-02 [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	(800,000)
Accounting Standards Update 2018-02 [Member] | Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (800,000)