Neenah (NP) 10-Q 11 May 20 2020 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2020	May 01, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2020
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		16,791,451
Entity Central Index Key	0001296435
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Income Statement [Abstract]
Net sales	$ 233.6	$ 239.7
Cost of products sold	179.6	196
Gross profit	54	43.7
Selling, general and administrative expenses	26.6	25.3
COVID-19 costs	1.1	0
Restructuring and other non-routine costs	1.4	0
Acquisition and due diligence costs	1	0
Other expense - net	0.3	1
Operating income	23.6	17.4
Interest expense - net	2.9	3.2
Income from continuing operations before income taxes	20.7	14.2
Provision for income taxes	4.3	2.4
Net income	$ 16.4	$ 11.8
Earnings Per Common Share
Basic (in usd per share)	$ 0.97	$ 0.70
Diluted (in usd per share)	$ 0.97	$ 0.69
Weighted Average Common Shares Outstanding (in thousands)
Basic (in shares)	16,817	16,862
Diluted (in shares)	16,850	16,921
Cash dividends declared per share of common stock (in usd per share)	$ 0.47	$ 0.45

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Statement of Comprehensive Income [Abstract]
Net income	$ 16.4	$ 11.8
Reclassification of amounts recognized in the condensed consolidated statements of operations:
Amortization of adjustments to pension and other postretirement benefit liabilities (Note 5)	1.6	1.7
Unrealized foreign currency translation loss	(4)	(3.2)
Loss from other comprehensive income items	(2.4)	(1.5)
Provision for income taxes	0.2	0.2
Other comprehensive loss	(2.6)	(1.7)
Comprehensive income	$ 13.8	$ 10.1

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Current Assets
Cash and cash equivalents	$ 77.5	$ 9
Accounts receivable (less allowances of $2.0 million and $1.5 million)	118.6	102.6
Inventories	131.4	122.8
Prepaid and other current assets	16.5	18.3
Total Current Assets	344	252.7
Property, Plant and Equipment
Property, plant and equipment, at cost	849.9	850.6
Less accumulated depreciation	475.4	470
Property, Plant and Equipment—net	374.5	380.6
Lease Right-of-Use Assets (Note 1)	21.8	13.9
Deferred Income Taxes	11.6	13.4
Goodwill	82.2	83.1
Intangible Assets—net	65.3	66.7
Other Noncurrent Assets	16.9	17.4
TOTAL ASSETS	916.3	827.8
Current Liabilities
Debt payable within one year	3.3	2.6
Lease liabilities payable within one year (Note 1)	2.7	1.9
Accounts payable	57.8	48.9
Accrued expenses	48	47
Total Current Liabilities	111.8	100.4
Long-term Debt	268.6	198.2
Noncurrent Lease Liabilities (Note 1)	20.2	13
Noncurrent Employee Benefits	89.8	93.1
Deferred Income Taxes	12	12.9
Other Noncurrent Obligations	4.1	3.9
TOTAL LIABILITIES	506.5	421.5
Contingencies and Legal Matters (Note 8)	0	0
TOTAL STOCKHOLDERS’ EQUITY	409.8	406.3
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 916.3	$ 827.8

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Accounts receivable, allowances	$ 2	$ 1.5

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, 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, net of income taxes	(1.7)					(1.7)
Dividends declared	(7.6)				(7.6)
Shares purchased (Note 7)	(0.3)		(0.3)
Stock options exercised (in shares)		9
Stock options exercised	0
Restricted stock vesting (in shares)		3
Restricted stock vesting (Note 7)	(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, 2019		18,678
Balance at the beginning of the period at Dec. 31, 2019	406.3	$ 0.2	(82.8)	334.1	268.1	(113.3)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	16.4				16.4
Other comprehensive income, net of income taxes	(2.6)					(2.6)
Dividends declared	(8)				(8)
Shares purchased (Note 7)	(3.6)		(3.6)
Stock options exercised (in shares)		3
Stock options exercised	0
Restricted stock vesting (in shares)		8
Restricted stock vesting (Note 7)	(0.2)		(0.2)
Stock-based compensation	1.5			1.5
Ending balance (in shares) at Mar. 31, 2020		18,689
Balance at the end of the period at Mar. 31, 2020	$ 409.8	$ 0.2	$ (86.6)	$ 335.6	$ 276.5	$ (115.9)

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
OPERATING ACTIVITIES
Net income	$ 16.4	$ 11.8
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	8.6	8.8
Stock-based compensation	1.5	1.9
Deferred income tax provision	1.1	0.5
Provision for uncollectible accounts receivable	1	0
Non-cash effects of changes in liabilities for uncertain income tax positions	0	(0.4)
Increase in working capital	(13.7)	(20.9)
Pension and other postretirement benefits	(0.4)	1.5
Other	(0.3)	(0.2)
NET CASH PROVIDED BY OPERATING ACTIVITIES	14.2	3
INVESTING ACTIVITIES
Capital expenditures	(4.8)	(4.3)
Purchase of marketable securities	0	(0.2)
Other	(0.1)	(0.2)
NET CASH USED IN INVESTING ACTIVITIES	(4.9)	(4.7)
FINANCING ACTIVITIES
Long-term borrowings (Note 4)	88.7	62.9
Repayments of long-term debt (Note 4)	(17)	(55.5)
Debt issuance costs	(0.5)	(0.2)
Cash dividends paid	(8)	(7.6)
Shares purchased (Note 7)	(3.8)	(0.3)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES	59.4	(0.7)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	(0.2)	0.1
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	68.5	(2.3)
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR	9	9.9
CASH AND CASH EQUIVALENTS, END OF PERIOD	77.5	7.6
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid during period for interest, net of interest costs capitalized	0.2	0.6
Cash paid during period for income taxes	2	4.3
Non-cash investing activities:
Liability for equipment acquired	$ 2.4	$ 2.6

Background and Basis of Present

Background and Basis of Presentation	3 Months Ended
	Mar. 31, 2020
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 9, "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. Impacts of COVID-19 The Company assessed the impacts of the novel coronavirus pandemic (“COVID-19”) on its various accounting estimates and significant judgments, including those that require consideration of forecasted financial information in the context of the unknown future impacts of COVID-19, using information that is reasonably available at this time. The accounting estimates and other matters assessed included, but were not limited to, goodwill, indefinite-lived intangibles and other long-lived assets, allowance for uncollectible accounts receivable, valuation allowances for tax assets and revenue recognition. Based on the Company’s current assessment of these estimates, there was not a material impact to the condensed consolidated financial statements as of and for the quarter ended March 31, 2020. As additional information becomes available, the Company’s future assessment of these estimates, including updated expectations at the time regarding the duration, scope and severity of the pandemic, could materially and adversely impact its consolidated financial statements in future reporting periods. The Company recorded an accrual for a one-time special payment to its mill operators of $1.1 million related to COVID-19 during the three months ended March 31, 2020. 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 March 31, 2020 2019 Income from continuing operations $ 16.4 $ 11.8 Amounts attributable to participating securities (0.1 ) — Net income available to common stockholders $ 16.3 $ 11.8 Weighted-average basic shares outstanding 16,817 16,862 Basic earnings per share $ 0.97 $ 0.70 Earnings Per Diluted Common Share Three Months Ended March 31, 2020 2019 Income from continuing operations $ 16.4 $ 11.8 Amounts attributable to participating securities (0.1 ) — Net income available to common stockholders $ 16.3 $ 11.8 Weighted-average basic shares outstanding 16,817 16,862 Add: Assumed incremental shares under stock compensation plans (a) 33 59 Weighted-average diluted shares 16,850 16,921 Diluted earnings per share $ 0.97 $ 0.69 (a) For the three months ended March 31, 2020 and 2019 , there were 267,152 and 231,332 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. 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: March 31, 2020 December 31, 2019 Carrying Value Fair Value (a) Carrying Value Fair Value (a) 2021 Senior Notes (5.25% fixed rate) $ 175.0 $ 174.3 $ 175.0 $ 174.3 Global Revolving Credit Facilities (variable rates) 93.0 93.0 21.6 21.6 German loan agreement (2.45% fixed rate) 3.4 3.5 3.5 3.6 German loan agreement (1.45% fixed rate) 3.6 3.7 3.7 3.7 Total debt $ 275.0 $ 274.5 $ 203.8 $ 203.2 (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 March 31, 2020 , the Company had $3.7 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 $4.4 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 March 31, 2020 , Neenah Germany had investments of $2.0 million that were restricted to the payment of certain post-retirement employee benefits of which $0.6 million and $1.4 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. 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 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. Refer to Note 9, "Business Segment Information" for disaggregation of segment revenue from contracts with customers for the three months ended March 31, 2020 and 2019 . Allowance for Uncollectible Accounts Receivable In January 2020, the Company adopted Accounting Standards Update ("ASU") No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments which amends the FASB's guidance on the impairment of financial instruments. The ASU adds to U.S. GAAP an impairment model (known as the "current expected credit loss model" or "CECL") that is based on expected losses rather than incurred losses. The adoption of this standard did not have a material impact on the Company's financial position, results of operations and cash flows. We estimate losses on receivables based on known troubled accounts and historical experience of losses incurred. Receivables are considered impaired and written-off when it is probable that contractual payments due will not be collected in accordance with the terms of the agreement. The allowance for uncollectible accounts receivable was $2.0 million and $1.5 million as of March 31, 2020 and December 31, 2019. The Company recorded a $1.0 million provision for uncollectible accounts receivable from the impacts of the COVID-19 pandemic for the three months ended March 31, 2020. Leases 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 March 31, 2020, the Company did not have any material finance leases. In March 2020, the Company entered into operating leases for two warehouse buildings, and recognized an ROU asset and a corresponding lease liability of $6.6 million with a term of 10 years , and an ROU asset and corresponding lease liability of $1.8 million with a term of 5 years . 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.

Accounting Standards Changes

Accounting Standards Changes	3 Months Ended
	Mar. 31, 2020
Accounting Changes and Error Corrections [Abstract]
Accounting Standards Changes	Accounting Standards Changes As discussed in Note 1, in January 2020, the Company adopted ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments . In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848)-Facilitation of the Effects of Reference Rate Reform on Financial Reporting . This ASU addresses accounting implications of the replacement of LIBOR (London Inter-Bank Offered Rate) with SOFR (Secured Overnight Financing Rate) or other alternatives by the end of 2021. The FASB allows immediate relief from application of contract modification accounting triggered by reference rate reform that otherwise would be costly to implement and result in burdensome financial reporting. The Company intends to elect the expedients and exceptions offered in the ASU. As of March 31, 2020 , no other 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.

Supplemental Balance Sheet Data

Supplemental Balance Sheet Data	3 Months Ended
	Mar. 31, 2020
Balance Sheet Related Disclosures [Abstract]
Supplemental Balance Sheet Data	Supplemental Balance Sheet Data The following table presents inventories by major class: March 31, 2020 December 31, 2019 Raw materials $ 33.4 $ 32.8 Work in progress 24.8 26.4 Finished goods 76.4 67.3 Supplies and other 5.2 5.2 139.8 131.7 Adjust FIFO inventories to LIFO cost (8.4 ) (8.9 ) Total $ 131.4 $ 122.8 The FIFO values of inventories valued on the LIFO method were $110.6 million and $102.2 million as of March 31, 2020 and December 31, 2019 , respectively. For the three months ended March 31, 2020 , 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 three months ended March 31, 2020 : Net Unrealized Foreign Currency Translation Loss Net Loss from Pension and Other Postretirement Liabilities Accumulated Other Comprehensive Loss AOCI — December 31, 2019 $ (19.0 ) $ (94.3 ) $ (113.3 ) Other comprehensive income (loss) before reclassifications (4.0 ) — (4.0 ) Amounts reclassified from AOCI — 1.6 1.6 Income (loss) from other comprehensive income items (4.0 ) 1.6 (2.4 ) Provision (benefit) for income taxes (0.3 ) 0.5 0.2 Other comprehensive income (loss) (3.7 ) 1.1 (2.6 ) AOCI — March 31, 2020 $ (22.7 ) $ (93.2 ) $ (115.9 ) For the three months ended March 31, 2020 and 2019 , the Company reclassified $1.6 million and $1.7 million , respectively, of costs from AOCI to "Other expense - net" on the Condensed Consolidated Statements of Operations. For the three months ended March 31, 2020 and 2019 , the Company recognized an income tax benefit of $0.5 million and $0.4 million , respectively. related to such reclassifications classified as "Provision for income taxes" on the Condensed Consolidated Statements of Operations.

Debt

Debt	3 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
Debt	Debt Long-term debt consisted of the following: March 31, 2020 December 31, 2019 2021 Senior Notes (5.25% fixed rate) due May 2021 $ 175.0 $ 175.0 Global Revolving Credit Facilities (variable rates) due December 2023 93.0 21.6 German loan agreement (2.45% fixed rate) due in quarterly installments ending September 2022 3.4 3.5 German loan agreement (1.45% fixed rate) due in quarterly installments ending March 2023 3.6 3.7 Deferred financing costs (3.1 ) (3.0 ) Total debt 271.9 200.8 Less: Debt payable within one year 3.3 2.6 Long-term debt $ 268.6 $ 198.2 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 March 31, 2020 , the Company was in compliance with all terms of the indenture for the 2021 Senior Notes. The Company continues to actively monitor the debt markets for refinancing opportunities and believes that it will be able to refinance these notes later this year on more favorable terms than are currently available in the market. 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. On March 12, 2020, the Company amended the Fourth Amended and Restated Credit Agreement, to among other things: (a) modify the Domestic Borrowing Base (as defined in the Credit Agreement) to permit the Domestic Borrowers to include a portion of certain capital assets acquired from time to time by any Domestic Borrower in permitted acquisitions, whether directly or indirectly through the acquisition of new subsidiaries (the “Acquired Assets”), pending the completion of the field exams and appraisals required under the Credit Agreement, for up to 60 days after the applicable acquisition, after which the Acquired Assets would be included in the Domestic Borrowing Base to the same extent and on the same basis as other inventory, receivables and applicable capital assets of the Domestic Borrowers; and (b) temporary adjustment to lower certain thresholds included in the agreement that impact, among other things, redemptions of existing Senior Notes, cash dividends, and other covenant restrictions, until the sooner of 90 days following the completion of a pending acquisition or the refinancing of the Company’s 5.25% Senior Notes due 2021, limit the payment of cash dividends on the Company’s common stock and the applicability of certain other covenants. 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 March 31, 2020 , 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 March 31, 2020 , the Company had $93.0 million of borrowings and $0.5 million in letters of credit outstanding under the Global Revolving Credit Facilities and $117.2 million of available credit (based on exchange rates at March 31, 2020 ). As of March 31, 2020 , the weighted-average interest rate on outstanding Global Revolving Credit Facility borrowings was 2.4 percent per annum. As of December 31, 2019 , the weighted-average interest rate under the Global Revolving Credit Facilities was 1.3 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 March 31, 2020 , 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 the Company's debt agreements, see Note 7, "Debt" of the Notes to Consolidated Financial Statements in the 2019 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 three months ended March 31, 2020 , the Company made net long-term debt borrowings of $71.7 million of which $6.7 million related to daily cash management activities, and $65.0 million related to increased cash on hand through borrowings near quarter-end as a precautionary measure to protect against any potential disruption in the banking system that would adversely impact the Company's ability to access cash as a result of COVID-19 and to enhance the Company's liquidity. For the three months ended March 31, 2019 , the Company made scheduled debt repayments of $0.3 million and net long-term debt borrowings of $7.7 million related to daily cash management activities.

Pension and Other Postretiremen

Pension and Other Postretirement Benefits	3 Months Ended
	Mar. 31, 2020
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 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. 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 March 31, 2020 2019 2020 2019 Service cost $ 1.2 $ 1.3 $ 0.3 $ 0.3 Interest cost 3.5 4.1 0.2 0.4 Expected return on plan assets (a) (5.2 ) (5.0 ) — — Recognized net actuarial loss 1.3 1.5 0.2 0.2 Amortization of prior service benefit 0.1 0.1 — — Net periodic benefit cost $ 0.9 $ 2.0 $ 0.7 $ 0.9 (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. 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. For the three months ended March 31, 2020 , the Company made $1.8 million of aggregate contributions to qualified and nonqualified defined benefit pension trusts and payments to pension benefits for unfunded pension and other postretirement benefit plans. The Company expects to make $7.4 million of such payments in calendar 2020. The Company made similar payments of $2.0 million and $13.1 million for the three months ended March 31, 2019 and for the year ended December 31, 2019, respectively. Multi-Employer Plan Historically, we have contributed to the PACE Industry Union-Management Pension Fund (the “PIUMPF"), a multiemployer pension plan. The amount of our annual contributions to the PIUMPF was negotiated with the plan and the bargaining unit representing our employees covered by the plan. The PIUMPF was certified to be in "critical status" for the plan year beginning January 1, 2010, and continued to be in critical status for the plan year beginning January 1, 2018. Effective July 1, 2018, the Company and representatives of the United Steelworkers Union (the "USW") of the Lowville mill initiated actions to withdraw from the PIUMPF. As a result, the Company recorded an estimated withdrawal liability of $1.0 million , which assumed payment of $0.1 million per year over 20 years , discounted at a credit adjusted risk-free rate of 5.7% . In October 2019, the Company received a billing from PIUMPF for the withdrawal liability, which confirmed the $1.0 million liability. In addition to the withdrawal liability, PIUMPF also demanded immediate payment of $1.3 million for the Company's pro-rata share of the fund's accumulated funding deficiency. The Company is challenging this demand and believes it to be unenforceable. As such, the Company has not recorded a liability for this amount as of March 31, 2020.

Stock Compensation Plan

Stock Compensation Plan	3 Months Ended
	Mar. 31, 2020
Share-based Payment Arrangement [Abstract]
Stock Compensation Plan	Stock Compensation Plan Stock Options and Stock Appreciation Rights ("Options") There were no Options awarded during the three months ended March 31, 2020 . The following table presents information regarding Options that vested during the three months ended March 31, 2020 : Options vested 66,953 Aggregate grant date fair value of Options vested (in millions) $ 1.0 The following table presents information regarding outstanding Options: March 31, 2020 December 31, 2019 Options outstanding 406,719 416,548 Aggregate intrinsic value (in millions) $ 0.6 $ 3.9 Per share weighted average exercise price $ 70.59 $ 70.08 Exercisable Options 377,517 318,029 Aggregate intrinsic value (in millions) $ 0.6 $ 3.9 Unvested Options 29,202 98,519 Per share weighted average grant date fair value $ 14.74 $ 14.41 Performance Share Units ("PSUs") and Restricted Share Units ("RSUs") For the three months ended March 31, 2020 , the Company granted target awards of 27,773 PSUs. The measurement period for the PSUs is January 1, 2020 through December 31, 2022. The PSUs vest on December 31, 2022. 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, free cash flow as a percentage of net sales, 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 free cash flow as a percentage of net sales 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 $71.88 per share. For the three months ended March 31, 2020 , the Company awarded 58,587 RSUs to certain employees. The weighted average grant date fair value of such awards was $68.54 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. 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	3 Months Ended
	Mar. 31, 2020
Stockholders' Equity Note [Abstract]
Stockholders' Equity	Stockholders' Equity Common Stock As of March 31, 2020 and December 31, 2019 , the Company had 16,791,000 shares and 16,843,000 shares of Common Stock outstanding, respectively. In November 2019, the Company's Board of Directors authorized a program for the purchase of up to $25 million of outstanding Common Stock effective January 1, 2020 (the "2020 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 2020 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. Among the measures taken to manage the Company's cash flow and preserve its liquidity, purchases under the 2020 Stock Purchase Plan were curtailed in March 2020 and remain suspended. The Company also had $25 million repurchase programs in place during the preceding two years that expired in December 2019 (the “2019 Stock Purchase Plan”) and December 2018 (the “2018 Stock Purchase Plan”), respectively. The following table shows shares purchased and value ($ in millions) under the respective stock purchase plans: Three Months Ended March 31, 2020 2019 Shares Amount Shares Amount 2020 Stock Purchase Plan 59,577 $ 3.6 — $ — 2019 Stock Purchase Plan — — 4,285 0.3 For the three months ended March 31, 2020, the Company acquired 3,476 shares of Common Stock, at a cost of $0.2 million

Contingencies and Legal Matters

Contingencies and Legal Matters	3 Months Ended
	Mar. 31, 2020
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 March 31, 2020 , the Company had 205 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 April 2020 Eerbeek, Netherlands CNV, FNV (a) (b) August 2020 Neenah Germany IG BCE (a) January 2021 Whiting, WI USW 205 June 2021 Neenah, WI USW 228 July 2021 Munising, MI USW 182 November 2021 Lowville, NY USW 96 May 2022 Appleton, WI USW 84 (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 CNV and the FNV. 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.

Business Segment Information

Business Segment Information	3 Months Ended
	Mar. 31, 2020
Segment Reporting [Abstract]
Business Segment Information	Business Segment Information The Company’s reportable operating segments consist of Technical Products and Fine Paper and Packaging. The Technical Products segment is an aggregation of the Company’s performance materials and filtration 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 tape and abrasives backings products, digital image transfer, durable label and other specialty substrate products ("Performance Materials"), and filtration media for transportation, water and other end use applications ("Filtration"). During the three months ended March 31, 2020, the Company aggregated the backings and specialties revenues into Performance Materials and recast the prior year period disclosure based on the economic similarity of the products per ASC Topic 280, Segment Reporting , and changes in the internal management of these products. The following table presents sales by product category for the technical products business: Three Months Ended March 31, 2020 2019 Performance Materials 58 % 58 % Filtration 42 % 42 % Total 100 % 100 % The Fine Paper and Packaging segment is a leading supplier of premium printing and other high-end specialty papers ("Graphic Imaging"), and premium packaging ("Packaging"), primarily in North America. The following table presents sales by product category for the fine paper and packaging business: Three Months Ended March 31, 2020 2019 Graphic Imaging 76 % 79 % Packaging 24 % 21 % Total 100 % 100 % 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 and operating income for each of the Company’s business segments: Three Months Ended March 31, 2020 2019 Net sales Technical Products $ 142.2 $ 140.0 Fine Paper and Packaging 91.4 99.7 Consolidated $ 233.6 $ 239.7 Three Months Ended March 31, 2020 (a) 2019 Operating income (loss) Technical Products $ 16.2 $ 11.3 Fine Paper and Packaging 14.8 11.9 Unallocated corporate costs (7.4 ) (5.8 ) Consolidated $ 23.6 $ 17.4 (a) Operating income for the three months ended March 31, 2020 included (1) $1.1 million of costs ( $0.6 million within Technical Products and $0.5 million within Fine Paper and Packaging) related to a one-time special payment to its mill operators related to the COVID-19 pandemic; (2) $1.4 million of restructuring and other non-routine costs ( $0.2 million within Technical Products, $0.9 million within Fine Paper and Packaging, and $0.3 million within Unallocated corporate costs); and (3) $1.0 million of due diligence and transaction costs of a terminated acquisition attempt within Unallocated corporate costs. The following tables represent a disaggregation of revenue from contracts with customers by location of the selling entities for the three months ended March 31, 2020 and 2019 : Three Months Ended March 31, 2020 2019 United States 70 % 71 % Germany 23 % 22 % Rest of Europe 7 % 7 % Total 100 % 100 %

Subsequent Event

Subsequent Event	3 Months Ended
	Mar. 31, 2020
Subsequent Events [Abstract]
Subsequent Event	Subsequent Event On May 6, 2020, Bonnie C. Lind notified Neenah of her plans to retire on October 1, 2020. In addition, Ms. Lind will relinquish her role as Senior Vice President, Chief Financial Officer and Treasurer (“CFO”) as of May 13, 2020. Ms. Lind will remain with the Company through October 1 to ensure a smooth transition. On May 7, 2020, the Company announced the appointment of Paul DeSantis as CFO, effective as of May 13, 2020. Mr. DeSantis, most recently served as Chief Financial Officer of OMNOVA Solutions, Inc., a global producer of emulsion polymers, specialty chemicals, and decorative and functional surfaces. Mr. DeSantis previously served as Chief Financial Officer, Treasurer & Assistant Corporate Secretary of Bob Evans Farms, Inc. and as Chief Financial Officer of the A. Schulman Company. In connection with his appointment, Mr. DeSantis will participate in the Company’s long-term equity compensation plan on an ongoing basis pursuant to the terms of the Company’s 2018 Omnibus Stock and Incentive Compensation Plan, all as determined by the Company’s Compensation Committee.

Background and Basis of Prese_2

Background and Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2020
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 March 31, 2020 2019 Income from continuing operations $ 16.4 $ 11.8 Amounts attributable to participating securities (0.1 ) — Net income available to common stockholders $ 16.3 $ 11.8 Weighted-average basic shares outstanding 16,817 16,862 Basic earnings per share $ 0.97 $ 0.70 Earnings Per Diluted Common Share Three Months Ended March 31, 2020 2019 Income from continuing operations $ 16.4 $ 11.8 Amounts attributable to participating securities (0.1 ) — Net income available to common stockholders $ 16.3 $ 11.8 Weighted-average basic shares outstanding 16,817 16,862 Add: Assumed incremental shares under stock compensation plans (a) 33 59 Weighted-average diluted shares 16,850 16,921 Diluted earnings per share $ 0.97 $ 0.69 (a) For the three months ended March 31, 2020 and 2019 , there were 267,152 and 231,332
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).
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 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	Leases 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 March 31, 2020, the Company did not have any material finance leases. In March 2020, the Company entered into operating leases for two warehouse buildings, and recognized an ROU asset and a corresponding lease liability of $6.6 million with a term of 10 years , and an ROU asset and corresponding lease liability of $1.8 million with a term of 5 years . 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.
Accounting Standard Changes	Accounting Standards Changes As discussed in Note 1, in January 2020, the Company adopted ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments . In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848)-Facilitation of the Effects of Reference Rate Reform on Financial Reporting . This ASU addresses accounting implications of the replacement of LIBOR (London Inter-Bank Offered Rate) with SOFR (Secured Overnight Financing Rate) or other alternatives by the end of 2021. The FASB allows immediate relief from application of contract modification accounting triggered by reference rate reform that otherwise would be costly to implement and result in burdensome financial reporting. The Company intends to elect the expedients and exceptions offered in the ASU. As of March 31, 2020 , no other 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.
Business Segment Information	Business Segment Information The Company’s reportable operating segments consist of Technical Products and Fine Paper and Packaging. The Technical Products segment is an aggregation of the Company’s performance materials and filtration 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 tape and abrasives backings products, digital image transfer, durable label and other specialty substrate products ("Performance Materials"), and filtration media for transportation, water and other end use applications ("Filtration"). During the three months ended March 31, 2020, the Company aggregated the backings and specialties revenues into Performance Materials and recast the prior year period disclosure based on the economic similarity of the products per ASC Topic 280, Segment Reporting , and changes in the internal management of these products. The following table presents sales by product category for the technical products business: Three Months Ended March 31, 2020 2019 Performance Materials 58 % 58 % Filtration 42 % 42 % Total 100 % 100 % The Fine Paper and Packaging segment is a leading supplier of premium printing and other high-end specialty papers ("Graphic Imaging"), and premium packaging ("Packaging"), primarily in North America. The following table presents sales by product category for the fine paper and packaging business: Three Months Ended March 31, 2020 2019 Graphic Imaging 76 % 79 % Packaging 24 % 21 % Total 100 % 100 % 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)	3 Months Ended
	Mar. 31, 2020
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 March 31, 2020 2019 Income from continuing operations $ 16.4 $ 11.8 Amounts attributable to participating securities (0.1 ) — Net income available to common stockholders $ 16.3 $ 11.8 Weighted-average basic shares outstanding 16,817 16,862 Basic earnings per share $ 0.97 $ 0.70 Earnings Per Diluted Common Share Three Months Ended March 31, 2020 2019 Income from continuing operations $ 16.4 $ 11.8 Amounts attributable to participating securities (0.1 ) — Net income available to common stockholders $ 16.3 $ 11.8 Weighted-average basic shares outstanding 16,817 16,862 Add: Assumed incremental shares under stock compensation plans (a) 33 59 Weighted-average diluted shares 16,850 16,921 Diluted earnings per share $ 0.97 $ 0.69 (a) For the three months ended March 31, 2020 and 2019 , there were 267,152 and 231,332
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: March 31, 2020 December 31, 2019 Carrying Value Fair Value (a) Carrying Value Fair Value (a) 2021 Senior Notes (5.25% fixed rate) $ 175.0 $ 174.3 $ 175.0 $ 174.3 Global Revolving Credit Facilities (variable rates) 93.0 93.0 21.6 21.6 German loan agreement (2.45% fixed rate) 3.4 3.5 3.5 3.6 German loan agreement (1.45% fixed rate) 3.6 3.7 3.7 3.7 Total debt $ 275.0 $ 274.5 $ 203.8 $ 203.2 (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.

Supplemental Balance Sheet Da_2

Supplemental Balance Sheet Data (Tables)	3 Months Ended
	Mar. 31, 2020
Balance Sheet Related Disclosures [Abstract]
Schedule of inventories by major class	The following table presents inventories by major class: March 31, 2020 December 31, 2019 Raw materials $ 33.4 $ 32.8 Work in progress 24.8 26.4 Finished goods 76.4 67.3 Supplies and other 5.2 5.2 139.8 131.7 Adjust FIFO inventories to LIFO cost (8.4 ) (8.9 ) Total $ 131.4 $ 122.8
Schedule of changes in accumulated other comprehensive income	The following table presents changes in accumulated other comprehensive income (loss) ("AOCI") for the three months ended March 31, 2020 : Net Unrealized Foreign Currency Translation Loss Net Loss from Pension and Other Postretirement Liabilities Accumulated Other Comprehensive Loss AOCI — December 31, 2019 $ (19.0 ) $ (94.3 ) $ (113.3 ) Other comprehensive income (loss) before reclassifications (4.0 ) — (4.0 ) Amounts reclassified from AOCI — 1.6 1.6 Income (loss) from other comprehensive income items (4.0 ) 1.6 (2.4 ) Provision (benefit) for income taxes (0.3 ) 0.5 0.2 Other comprehensive income (loss) (3.7 ) 1.1 (2.6 ) AOCI — March 31, 2020 $ (22.7 ) $ (93.2 ) $ (115.9 )

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
Schedule of long-term debt	Long-term debt consisted of the following: March 31, 2020 December 31, 2019 2021 Senior Notes (5.25% fixed rate) due May 2021 $ 175.0 $ 175.0 Global Revolving Credit Facilities (variable rates) due December 2023 93.0 21.6 German loan agreement (2.45% fixed rate) due in quarterly installments ending September 2022 3.4 3.5 German loan agreement (1.45% fixed rate) due in quarterly installments ending March 2023 3.6 3.7 Deferred financing costs (3.1 ) (3.0 ) Total debt 271.9 200.8 Less: Debt payable within one year 3.3 2.6 Long-term debt $ 268.6 $ 198.2

Pension and Other Postretirem_2

Pension and Other Postretirement Benefits (Tables)	3 Months Ended
	Mar. 31, 2020
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 March 31, 2020 2019 2020 2019 Service cost $ 1.2 $ 1.3 $ 0.3 $ 0.3 Interest cost 3.5 4.1 0.2 0.4 Expected return on plan assets (a) (5.2 ) (5.0 ) — — Recognized net actuarial loss 1.3 1.5 0.2 0.2 Amortization of prior service benefit 0.1 0.1 — — Net periodic benefit cost $ 0.9 $ 2.0 $ 0.7 $ 0.9 (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.

Stock Compensation Plan (Tables

Stock Compensation Plan (Tables)	3 Months Ended
	Mar. 31, 2020
Share-based Payment Arrangement [Abstract]
Schedule of stock options vested during the period	The following table presents information regarding Options that vested during the three months ended March 31, 2020 : Options vested 66,953 Aggregate grant date fair value of Options vested (in millions) $ 1.0
Schedule of outstanding stock options	The following table presents information regarding outstanding Options: March 31, 2020 December 31, 2019 Options outstanding 406,719 416,548 Aggregate intrinsic value (in millions) $ 0.6 $ 3.9 Per share weighted average exercise price $ 70.59 $ 70.08 Exercisable Options 377,517 318,029 Aggregate intrinsic value (in millions) $ 0.6 $ 3.9 Unvested Options 29,202 98,519 Per share weighted average grant date fair value $ 14.74 $ 14.41

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2020
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: Three Months Ended March 31, 2020 2019 Shares Amount Shares Amount 2020 Stock Purchase Plan 59,577 $ 3.6 — $ — 2019 Stock Purchase Plan — — 4,285 0.3

Contingencies and Legal Matte_2

Contingencies and Legal Matters (Tables)	3 Months Ended
	Mar. 31, 2020
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 April 2020 Eerbeek, Netherlands CNV, FNV (a) (b) August 2020 Neenah Germany IG BCE (a) January 2021 Whiting, WI USW 205 June 2021 Neenah, WI USW 228 July 2021 Munising, MI USW 182 November 2021 Lowville, NY USW 96 May 2022 Appleton, WI USW 84 (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 CNV and the FNV. Until a new contract is signed, the terms of the previous contract still apply.

Business Segment Information (T

Business Segment Information (Tables)	3 Months Ended
	Mar. 31, 2020
Segment Reporting [Abstract]
Disaggregation of Revenue	The following table presents sales by product category for the fine paper and packaging business: Three Months Ended March 31, 2020 2019 Graphic Imaging 76 % 79 % Packaging 24 % 21 % Total 100 % 100 % Three Months Ended March 31, 2020 2019 Performance Materials 58 % 58 % Filtration 42 % 42 % Total 100 % 100 %
Schedule of net sales and operating income for each of the Company's business segment	The following tables summarize the net sales and operating income for each of the Company’s business segments: Three Months Ended March 31, 2020 2019 Net sales Technical Products $ 142.2 $ 140.0 Fine Paper and Packaging 91.4 99.7 Consolidated $ 233.6 $ 239.7 Three Months Ended March 31, 2020 (a) 2019 Operating income (loss) Technical Products $ 16.2 $ 11.3 Fine Paper and Packaging 14.8 11.9 Unallocated corporate costs (7.4 ) (5.8 ) Consolidated $ 23.6 $ 17.4 (a) Operating income for the three months ended March 31, 2020 included (1) $1.1 million of costs ( $0.6 million within Technical Products and $0.5 million within Fine Paper and Packaging) related to a one-time special payment to its mill operators related to the COVID-19 pandemic; (2) $1.4 million of restructuring and other non-routine costs ( $0.2 million within Technical Products, $0.9 million within Fine Paper and Packaging, and $0.3 million within Unallocated corporate costs); and (3) $1.0 million of due diligence and transaction costs of a terminated acquisition attempt within Unallocated corporate costs.
Revenue from External Customers by Geographic Areas	The following tables represent a disaggregation of revenue from contracts with customers by location of the selling entities for the three months ended March 31, 2020 and 2019 : Three Months Ended March 31, 2020 2019 United States 70 % 71 % Germany 23 % 22 % Rest of Europe 7 % 7 % Total 100 % 100 %

Background and Basis of Prese_4

Background and Basis of Presentation - Impacts of COVID-19 (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
COVID-19 costs	$ 1.1	$ 0

Background and Basis of Prese_5

Background and Basis of Presentation - EPS (Details) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2020USD ($)primary_operation$ / sharesshares	Mar. 31, 2019USD ($)$ / 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	$ 16.4	$ 11.8
Amounts attributable to participating securities	(0.1)	0
Net income available to common stockholders	$ 16.3	$ 11.8
Weighted-average basic shares outstanding (in shares) | shares	16,817,000	16,862,000
Basic earnings (in usd per share) | $ / shares	$ 0.97	$ 0.70
Earnings (Loss) Per Diluted Common Share
Income from continuing operations	$ 16.4	$ 11.8
Amounts attributable to participating securities	(0.1)	0
Net income available to common stockholders	$ 16.3	$ 11.8
Weighted-average diluted shares
Weighted-average basic shares outstanding (in shares) | shares	16,817,000	16,862,000
Add: Assumed incremental shares under stock compensation plans (in shares) | shares	33,000	59,000
Weighted-average diluted shares (in shares) | shares	16,850,000	16,921,000
Diluted earnings (in usd per share) | $ / shares	$ 0.97	$ 0.69
Potentially dilutive stock-based compensation awards excluded from computation of dilutive common shares (in shares) | shares	267,152	231,332

Background and Basis of Prese_6

Background and Basis of Presentation - Fair Value (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
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	$ 275	$ 203.8
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	93	21.6
Carrying Value | Secured debt | German loan agreement (2.45% fixed rate)
Fair Value of Financial Instruments
Total debt	3.4	3.5
Carrying Value | Secured debt | German loan agreement (1.45% fixed rate)
Fair Value of Financial Instruments
Total debt	3.6	3.7
Level 2 | Fair Value
Fair Value of Financial Instruments
Total debt	274.5	203.2
Level 2 | Fair Value | Senior notes | 2021 Senior Notes (5.25% fixed rate)
Fair Value of Financial Instruments
Total debt	174.3	174.3
Level 2 | Fair Value | Secured debt | Global Revolving Credit Facilities (variable rates)
Fair Value of Financial Instruments
Total debt	93	21.6
Level 2 | Fair Value | Secured debt | German loan agreement (2.45% fixed rate)
Fair Value of Financial Instruments
Total debt	3.5	3.6
Level 2 | Fair Value | Secured debt | German loan agreement (1.45% fixed rate)
Fair Value of Financial Instruments
Total debt	$ 3.7	$ 3.7

Background and Basis of Prese_7

Background and Basis of Presentation - Marketable Securities (Details) $ in Millions	Mar. 31, 2020USD ($)
United States
Marketable securities
Cost of marketable securities	$ 4.4
United States | Fair Value | Level 1 | Other Noncurrent Assets
Marketable securities
Fair value of marketable securities	3.7
Germany | Pension Benefits
Held to maturity
Investments restricted to the payment of post-retirement employee benefits	2
Germany | Other Noncurrent Assets | Pension Benefits
Held to maturity
Investments restricted to the payment of post-retirement employee benefits	1.4
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_8

Background and Basis of Presentation - Revenue from Contracts with Customers (Details)	3 Months Ended
	Mar. 31, 2020
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers, payment term, discount, percent	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%
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%

Background and Basis of Prese_9

Background and Basis of Presentation - Allowance for Uncollectible Accounts Receivable (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Allowance for doubtful accounts	$ 2		$ 1.5
Provision for impacts of COVID-19 pandemic	$ 1	$ 0

Background and Basis of Pres_10

Background and Basis of Presentation - Leases (Details) $ in Millions	3 Months Ended
	Mar. 31, 2020USD ($)lease	Dec. 31, 2019USD ($)
Lessee, Lease, Description [Line Items]
Operating lease right-of-use asset	$ 21.8	$ 13.9
Maximum
Lessee, Lease, Description [Line Items]
Lease remaining term of contract	11 years
Lease extension term	5 years
Warehouse Building
Lessee, Lease, Description [Line Items]
Number of leases | lease	2
Warehouse Building One | Warehouse Building
Lessee, Lease, Description [Line Items]
Operating lease right-of-use asset	$ 6.6
Operating lease liability	$ 6.6
Operating lease term	10 years
Warehouse Building Two | Warehouse Building
Lessee, Lease, Description [Line Items]
Operating lease right-of-use asset	$ 1.8
Operating lease liability	$ 1.8
Operating lease term	5 years

Supplemental Balance Sheet Da_3

Supplemental Balance Sheet Data - Inventories (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Inventories by major class:
Raw materials	$ 33.4	$ 32.8
Work in progress	24.8	26.4
Finished goods	76.4	67.3
Supplies and other	5.2	5.2
Inventories, gross	139.8	131.7
Adjust FIFO inventories to LIFO cost	(8.4)	(8.9)
Total	131.4	122.8
FIFO values of inventories valued on the LIFO method	110.6	$ 102.2
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
	Mar. 31, 2020	Mar. 31, 2019
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at the beginning of the period	$ 406.3	$ 390.2
Other comprehensive income (loss) before reclassifications	(4)
Amounts reclassified from AOCI	1.6
Other comprehensive loss, including income taxes	(2.4)	(1.5)
Provision (benefit) for income taxes	0.2	0.2
Other comprehensive income (loss)	(2.6)	(1.7)
Balance at the end of the period	409.8	394.2
Income tax benefit	(4.3)	(2.4)
Accumulated Other Comprehensive Loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Amounts reclassified from AOCI	1.6	1.7
Income tax benefit	0.5	0.4
Net Unrealized Foreign Currency Translation Loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at the beginning of the period	(19)
Other comprehensive income (loss) before reclassifications	(4)
Amounts reclassified from AOCI	0
Other comprehensive loss, including income taxes	(4)
Provision (benefit) for income taxes	(0.3)
Other comprehensive income (loss)	(3.7)
Balance at the end of the period	(22.7)
Net Loss from Pension and Other Postretirement Liabilities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at the beginning of the period	(94.3)
Other comprehensive income (loss) before reclassifications	0
Amounts reclassified from AOCI	1.6
Other comprehensive loss, including income taxes	1.6
Provision (benefit) for income taxes	0.5
Other comprehensive income (loss)	1.1
Balance at the end of the period	(93.2)
Accumulated Other Comprehensive Loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at the beginning of the period	(113.3)	(105.1)
Other comprehensive income (loss)	(2.6)	(1.7)
Balance at the end of the period	$ (115.9)	$ (106.8)

Debt - Schedule of Debt (Detai

Debt - Schedule of Debt (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Principal Payments
Deferred financing costs	$ (3.1)	$ (3)
Total debt	271.9	200.8
Less: Debt payable within one year	3.3	2.6
Long-term debt	$ 268.6	198.2
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	$ 93	21.6
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	$ 3.4	3.5
Secured debt | German loan agreement (1.45% fixed rate)
Principal Payments
Fixed rate of interest	1.45%
Total debt	$ 3.6	$ 3.7

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($)	1 Months Ended	3 Months Ended
	May 31, 2013	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Principal Payments
Total debt		$ 271,900,000		$ 200,800,000
Net long-term debt borrowings		71,700,000
Net borrowings related to daily cash management		6,700,000
Net borrowings related to increased cash on hand		65,000,000
Repayments of debt			$ 7,700,000
Scheduled debt repayment			$ 300,000
Global Revolving Credit Facilities (variable rates)
Principal Payments
Letters of credit outstanding		500,000
Available credit		$ 117,200,000
Weighted-average interest rate (as a percent)		2.40%		1.30%
Senior notes | 2021 Senior Notes (5.25% fixed rate)
Principal Payments
Total term of notes	8 years
Face amount	$ 175,000,000
Maximum number of days after acquisition acquired assets included in domestic borrowing base		60 days
Maximum number of days following acquisition thresholds restricted to redeem senior notes		90 days
Fixed rate of interest		5.25%
Total debt		$ 175,000,000		$ 175,000,000
Line of credit | Global Revolving Credit Facilities (variable rates)
Principal Payments
Total debt		$ 93,000,000		$ 21,600,000

Pension and Other Postretirem_3

Pension and Other Postretirement Benefits (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Pension Benefits
Pension and other postretirement benefits
Service cost	$ 1.2	$ 1.3
Interest cost	3.5	4.1
Expected return on plan assets	(5.2)	(5)
Recognized net actuarial loss	1.3	1.5
Amortization of prior service benefit	0.1	0.1
Net periodic benefit cost	0.9	2
Postretirement Benefits Other than Pensions
Pension and other postretirement benefits
Service cost	0.3	0.3
Interest cost	0.2	0.4
Expected return on plan assets	0	0
Recognized net actuarial loss	0.2	0.2
Amortization of prior service benefit	0	0
Net periodic benefit cost	$ 0.7	$ 0.9

Pension and Other Postretirem_4

Pension and Other Postretirement Benefits - Narrative (Details) $ in Millions	Jul. 01, 2018USD ($)	Mar. 31, 2020USD ($)	Mar. 31, 2019USD ($)	Dec. 31, 2019USD ($)
Pension and other postretirement benefits
Aggregate contributions to qualified and non-qualified pension trusts and payments of pension benefits for unfunded pension plans		$ 1.8	$ 2	$ 13.1
Expected 2020 aggregate contributions to qualified and non-qualified pension trusts and payments of pension benefits for unfunded pension and other postretirement plans		7.4
Accumulated funding deficiency demand		$ 1.3
Pace Industry Union-Management Pension Fund
Pension and other postretirement benefits
Liability for plan withdrawal	$ 1
Multiemployer plan minimum contribution	$ 0.1
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

Stock Compensation Plan (Detail

Stock Compensation Plan (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2019
Options
Stock options and Stock Appreciation Rights vested
Options vested (in shares)				66,953
Aggregate grant date fair value of Options vested (in millions)				$ 1
Outstanding Stock Options and Stock Appreciation Rights
Options outstanding (in shares)				406,719	416,548
Aggregate intrinsic value (in millions)				$ 0.6	$ 3.9
Per share weighted average exercise price (in usd per share)				$ 70.59	$ 70.08
Exercisable Options (in shares)				377,517	318,029
Aggregate intrinsic value (in millions)				$ 0.6	$ 3.9
Unvested Options (in shares)				29,202	98,519
Per share weighted average grant date fair value (in usd per share)				$ 14.74	$ 14.41
Performance Share Units ("PSUs")
Additional disclosures
Granted (in shares)				27,773
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)				$ 71.88
Employees | Restricted Stock Units (RSUs)
Additional disclosures
Granted (in shares)				58,587
Equity instruments other than options, weighted average grant date fair value (in usd per share)				$ 68.54
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%

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019	Nov. 30, 2019	Dec. 31, 2018
Stockholders' equity
Common stock, outstanding shares (in shares)	16,791,000		16,843,000
Shares purchased	$ 3,600,000	$ 300,000
Stock acquired (in shares)	3,476
Maximum
Stockholders' equity
Stock acquired	$ 200,000
2020 Stock Purchase Plan
Stockholders' equity
Common stock purchased under the stock purchase plan (in shares)	59,577	0
Shares purchased	$ 3,600,000	$ 0
2020 Stock Purchase Plan | Maximum
Stockholders' equity
Authorized amount of repurchase under the stock purchase plan (up to)				$ 25,000,000
2019 Stock Purchase Plan
Stockholders' equity
Common stock purchased under the stock purchase plan (in shares)	0	4,285
Shares purchased	$ 0	$ 300,000
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 | 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)	3 Months Ended
	Mar. 31, 2020employee
Workforce Subject to Collective Bargaining Arrangements Expiring within One Year
Concentrations
Number of Employees	205
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 | Whiting, WI | January 2021 | Workforce Subject to Collective Bargaining Arrangements Expiring within One Year
Concentrations
Number of Employees	205
USW | Neenah, WI | June 2021 | Workforce Subject to Collective Bargaining Arrangements
Concentrations
Number of Employees	228
USW | Munising, MI | July 2021 | Workforce Subject to Collective Bargaining Arrangements
Concentrations
Number of Employees	182
USW | Lowville, NY | November 2021 | Workforce Subject to Collective Bargaining Arrangements
Concentrations
Number of Employees	96
USW | Appleton, WI | May 2022 | Workforce Subject to Collective Bargaining Arrangements
Concentrations
Number of Employees	84

Business Segment Information -

Business Segment Information - Disaggregation of Revenue (Details) - Revenue from Contract with Customer	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Disaggregation of Revenue [Line Items]
Concentration risk, percentage	100.00%	100.00%
Fine Paper and Packaging
Disaggregation of Revenue [Line Items]
Concentration risk, percentage	100.00%	100.00%
Fine Paper and Packaging | Product Concentration Risk | Graphic Imaging
Disaggregation of Revenue [Line Items]
Concentration risk, percentage	76.00%	79.00%
Fine Paper and Packaging | Product Concentration Risk | Packaging
Disaggregation of Revenue [Line Items]
Concentration risk, percentage	24.00%	21.00%
Technical Products
Disaggregation of Revenue [Line Items]
Concentration risk, percentage	100.00%	100.00%
Technical Products | Product Concentration Risk | Performance Materials
Disaggregation of Revenue [Line Items]
Concentration risk, percentage	58.00%	58.00%
Technical Products | Product Concentration Risk | Filtration
Disaggregation of Revenue [Line Items]
Concentration risk, percentage	42.00%	42.00%
United States | Product Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration risk, percentage	70.00%	71.00%
Germany | Product Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration risk, percentage	23.00%	22.00%
Rest of Europe | Product Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration risk, percentage	7.00%	7.00%

Business Segment Information (D

Business Segment Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Business segment
Net sales	$ 233.6	$ 239.7
Operating income (loss)	23.6	17.4
COVID-19 costs	1.1	0
Restructuring and other non-routine costs	1.4	0
Due diligence and transaction costs	1	0
Unallocated corporate costs
Business segment
Operating income (loss)	(7.4)	(5.8)
Restructuring and other non-routine costs	0.3
Due diligence and transaction costs	1
Technical Products | Operating segments
Business segment
Net sales	142.2	140
Operating income (loss)	16.2	11.3
COVID-19 costs	0.6
Restructuring and other non-routine costs	0.2
Fine Paper and Packaging | Operating segments
Business segment
Net sales	91.4	99.7
Operating income (loss)	14.8	$ 11.9
COVID-19 costs	0.5
Restructuring and other non-routine costs	$ 0.9