Neenah (NP) 10-K 19 Feb 21 2020 FY Annual report Financial data

COVER PAGE

COVER PAGE - USD ($)	12 Months Ended
	Dec. 31, 2020	Feb. 17, 2021	Jun. 30, 2020
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2020
Current Fiscal Year End Date	--12-31
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 — $0.01 Par Value
Trading Symbol	NP
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
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
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 681,041,840
Entity Common Stock, Shares Outstanding		16,837,000
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE Certain information contained in the definitive proxy statement for the Company's Annual Meeting of Stockholders to be held on May 20, 2021 is incorporated by reference into Part III hereof.
Entity Central Index Key	0001296435
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Statement [Abstract]
Net Sales	$ 792.6	$ 938.5	$ 1,034.9
Cost, Product and Service [Extensible List]	us-gaap:ProductMember	us-gaap:ProductMember	us-gaap:ProductMember
Cost of products sold	$ 639.4	$ 755.1	$ 851.5
Gross Profit	153.2	183.4	183.4
Selling, general and administrative expenses	88	98.6	95.9
Asset restructuring and impairment costs (Note 12)	57.8	4.7	31.1
Other restructuring and non-routine costs	4.2	1.5	2.1
COVID-19 costs	3.5	0	0
Loss on debt extinguishment (Note 6)	1.9	0	0
Pension and SERP adjustments (Note 7)	1.6	(1.4)	1.8
Acquisition-related costs and adjustments (Note 2)	1.5	0	(3.9)
Insurance settlement	0	0	(0.4)
Other expense, net	0.8	1.7	2.7
Operating Income (Loss)	(6.1)	78.3	54.1
Interest expense	12.6	11.8	13
Income (Loss) From Continuing Operations Before Income taxes	(18.7)	66.5	41.1
Provision (benefit) for income taxes	(2.9)	11.1	3.9
Income (Loss) From Continuing Operations	(15.8)	55.4	37.2
Loss from discontinued operations, net of income taxes (Note 2)	0	0	(0.8)
Net Income (Loss)	$ (15.8)	$ 55.4	$ 36.4
Basic
Continuing operations (in dollars per share)	$ (0.96)	$ 3.27	$ 2.20
Discontinued operations (in dollars per share)	0	0	(0.05)
Basic (in dollars per share)	(0.96)	3.27	2.15
Diluted
Continuing operations (in dollars per share)	(0.96)	3.26	2.17
Discontinued operations (in dollars per share)	0	0	(0.05)
Diluted (in dollars per share)	$ (0.96)	$ 3.26	$ 2.12
Weighted Average Common Shares Outstanding
Basic (in shares)	16,813	16,848	16,850
Diluted (in shares)	16,813	16,906	16,968

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement of Comprehensive Income [Abstract]
Net Income (Loss)	$ (15.8)	$ 55.4	$ 36.4
Reclassification of amounts recognized in the consolidated statement of operations:
Amortization of adjustments to pension and other postretirement benefit liabilities	6.6	6	6
Pension plan settlement/curtailment losses	0.3	1.3	0.8
Amounts recognized in the consolidated statement of operations	6.9	7.3	6.8
Unrealized foreign currency translation gain (loss)	18	(3.5)	(7.9)
Net loss from pension and other postretirement benefit plans	(17.2)	(13.7)	(11.2)
Income (Loss) From Other Comprehensive Income Items Before Income Taxes	7.7	(9.9)	(12.3)
Benefit for income taxes	(1.9)	(1.7)	(1)
Other Comprehensive Income (Loss)	9.6	(8.2)	(11.3)
Comprehensive Income (Loss)	$ (6.2)	$ 47.2	$ 25.1

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Current Assets
Cash and cash equivalents	$ 37.1	$ 9
Accounts receivable, net	100.2	102.6
Inventories	108.9	122.8
Prepaid and other current assets	25.1	18.3
Total Current Assets	271.3	252.7
Property, Plant and Equipment, net	329.4	380.6
Lease Right-of-Use Assets	20.2	13.9
Deferred Income Taxes	18.3	13.4
Goodwill (Note 4)	87.4	83.1
Intangible Assets, net (Note 4)	62.6	66.7
Other Assets	17.4	17.4
TOTAL ASSETS	806.6	827.8
Current Liabilities
Debt payable within one year	4.9	2.6
Lease liabilities payable within one year	3.2	1.9
Accounts payable	46	48.9
Accrued expenses	61.9	47
Total Current Liabilities	116	100.4
Long-Term Debt	189.5	198.2
Noncurrent Lease Liabilities	18.4	13
Noncurrent Employee Benefits	96.8	93.1
Deferred Income Taxes	12.3	12.9
Other Noncurrent Obligations	6	3.9
TOTAL LIABILITIES	439	421.5
Commitments and Contingencies (Note 11)
Stockholders' Equity
Common stock, par value $0.01, authorized: 100,000,000 shares; issued and outstanding: 16,829,000 shares and 16,843,000 shares	0.2	0.2
Treasury stock, at cost: 1,917,000 shares and 1,835,000 shares	(87.6)	(82.8)
Additional paid-in capital	338.3	334.1
Retained earnings	220.4	268.1
Accumulated other comprehensive loss	(103.7)	(113.3)
Total Stockholders' Equity	367.6	406.3
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 806.6	$ 827.8

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Par value of shares of common stock (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized shares (in shares)	100,000,000	100,000,000
Common stock, issued shares (in shares)	16,829,000	16,843,000
Common stock, outstanding shares (in shares)	16,829,000	16,843,000
Treasury stock, shares (in shares)	1,917,000	1,835,000

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Millions	Total	Common Stock	Treasury Stock	Additional Paid-In Capital	Retained Earnings	Retained EarningsCumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive LossCumulative Effect, Period of Adoption, Adjustment
Beginning balance (in shares) at Dec. 31, 2017		18,458
Beginning balance at Dec. 31, 2017		$ 0.2	$ (65.8)	$ 323.9	$ 235.7	$ (0.3)	$ (94.1)	$ 0.3
Increase (Decrease) in Stockholders' Equity
Net Income (Loss)	$ 36.4				36.4
Other comprehensive income (loss), after income tax	(11.3)						(11.3)
Reclassification of deferred income taxes on intra-entity asset transfers					(0.8)
Dividends declared					(27.8)
Shares purchased (Note 9)			(9.3)
Stock options exercised (in shares)		67
Stock options exercised				0.7
Restricted stock vesting (in shares)		72
Restricted stock vesting (Note 9)			(1.5)
Stock-based compensation				4
Other/Currency				(0.1)
Ending balance (in shares) at Dec. 31, 2018		18,597
Ending balance at Dec. 31, 2018		$ 0.2	(76.6)	328.5	243.2		(105.1)
Increase (Decrease) in Stockholders' Equity
Net Income (Loss)	55.4				55.4
Other comprehensive income (loss), after income tax	(8.2)						(8.2)
Dividends declared					(30.5)
Shares purchased (Note 9)			(4.9)
Stock options exercised (in shares)		17
Restricted stock vesting (in shares)		64
Restricted stock vesting (Note 9)			(1.3)
Stock-based compensation				5.6
Ending balance (in shares) at Dec. 31, 2019		18,678
Ending balance at Dec. 31, 2019	406.3	$ 0.2	(82.8)	334.1	268.1		(113.3)
Increase (Decrease) in Stockholders' Equity
Net Income (Loss)	(15.8)				(15.8)
Other comprehensive income (loss), after income tax	9.6						9.6
Dividends declared					(31.9)
Shares purchased (Note 9)			(3.6)
Stock options exercised (in shares)		6
Restricted stock vesting (in shares)		62
Restricted stock vesting (Note 9)			(1.2)
Stock-based compensation				4.2
Ending balance (in shares) at Dec. 31, 2020		18,746
Ending balance at Dec. 31, 2020	$ 367.6	$ 0.2	$ (87.6)	$ 338.3	$ 220.4		$ (103.7)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
OPERATING ACTIVITIES
Net income (loss)	$ (15.8)	$ 55.4	$ 36.4
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	36.7	38.9	36.1
Stock-based compensation	4.2	5.6	4
Deferred income tax provision (benefit)	(4.9)	3.4	(1.9)
Asset impairment costs (Note 12)	54.8	0	31.1
Loss on debt extinguishment (Note 6)	1.9	0	0
Pension curtailment (gain)/settlement charge, net of plan payments (Note 7)	1.6	(1.4)	1.8
Loss on asset dispositions	0	0.1	0.3
Non-cash effects of changes in liabilities for uncertain income tax positions	(0.2)	(0.7)	0.1
Net cash provided by (used in) changes in operating working capital, net of effect of acquisitions (Note 14)	18.2	(0.6)	(1)
Pension and other post-employment benefits	(5.8)	(3.7)	(12.3)
Noncurrent payroll taxes	2.2	0	0
Other	0.5	0.6	(1.9)
Net Cash Provided By Operating Activities	93.4	97.6	92.7
INVESTING ACTIVITIES
Capital expenditures	(18.9)	(21.4)	(38.1)
Proceeds from sale of property, plant and equipment (Note 12)	0.5	0	5
Sales (purchases) of marketable securities	(0.1)	(0.4)
Sales (purchases) of marketable securities			0.1
Other	(1)	(1.5)	(1.3)
Net Cash Used In Investing Activities	(19.5)	(23.3)	(34.3)
FINANCING ACTIVITIES
Proceeds from issuance of long-term debt (Note 6)	291.6	163.5	272.8
Debt issuance costs (Note 6)	(6)	(0.4)	(1.8)
Repayments of long-term debt (Note 6)	(295.9)	(201.6)	(285.6)
Cash dividends paid	(31.9)	(30.5)	(27.8)
Shares purchased (Note 9)	(4.8)	(6.2)	(10.8)
Proceeds from exercise of stock options	0	0	0.6
Net Cash Used In Financing Activities	(47)	(75.2)	(52.6)
Effect of Exchange Rate Changes on Cash and Cash Equivalents	1.2	0	(0.4)
Net Increase (Decrease) in Cash and Cash Equivalents	28.1	(0.9)	5.4
Cash and Cash Equivalents, Beginning of Year	9	9.9	4.5
Cash and Cash Equivalents, End of Year	$ 37.1	$ 9	$ 9.9

Background and Basis of Present

Background and Basis of Presentation	12 Months Ended
	Dec. 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. The technical products business is an international producer of fiber-formed, coated and/or saturated specialized media that delivers high performance benefits to customers. Included in this segment are filtration media, tape and abrasives backings products, digital transfer papers, durable label and other specialty substrate products. The fine paper and packaging business is a supplier of branded premium printing, packaging and other high-end specialty papers primarily in North America. The Company's premium writing, text and cover papers, and specialty papers are used in commercial printing and imaging applications for corporate identity packages, invitations, personal stationery and high-end advertising, as well as premium labels and luxury packaging. Basis of Presentation The consolidated financial statements include the financial statements of the Company and its wholly owned and majority owned subsidiaries. All inter-company balances and transactions have been eliminated in consolidation. Impacts of COVID-19 The Company continues to assess the impacts of the novel coronavirus pandemic (“COVID-19” or the "pandemic") 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 assessment of these estimates and due to the adverse impacts of COVID-19, during the year ended December 31, 2020, the Company recorded non-cash impairment losses of $54.8 million to write-down certain long-lived assets and investments, $2.6 million of restructuring charges due to the idling of a fine paper machine and other smaller assets and $0.4 million of related severance costs. See Note 12, "Asset Restructuring and Impairment Costs" for further discussion. As of November 30, 2020, the Company quantitatively assessed the carrying values of its intangible assets, including goodwill and indefinite-lived intangibles, and determined no additional assets were impaired. In addition, as a result of the impacts of COVID-19 and other factors, the Company recorded a $4.6 million increase to the valuation allowance against our state tax credits and NOLs. See Note 5, "Income Taxes" for further discussion. The Company also incurred incremental and direct costs of responding to COVID-19, including costs of personal protective equipment, additional cleaning and sanitation supplies, and labor costs of quarantined workers of $3.5 million for the year ended December 31, 2020.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of net sales and expenses during the reporting periods. Actual results could differ from these estimates, and changes in these estimates are recorded when known. Significant management judgment is required in determining the accounting for, among other things, reserves for uncertain tax positions, pension and postretirement benefit obligations, retained insurable risks, reserves for sales discounts and allowances, purchase price allocations, useful lives for depreciation and amortization, asset retirement obligations ("AROs"), future cash flows associated with impairment testing for tangible and intangible long-lived assets, goodwill, valuation allowance for deferred tax assets, contingencies, inventory obsolescence and market reserves and the valuation of stock-based compensation. Revenue Recognition 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 contractual arrangements. 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 material. Sales terms in the technical products business vary depending on the type of product sold and customer category. In general, sales are collected in approximately 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 percent for early customer payments, with discounts of 1 percent and 20-day terms used most often. Extended credit terms are offered to customers located in certain international markets. Refer to Note 13, "Business Segment and Geographic Information", for further disaggregation of revenue. Cash and Cash Equivalents Cash and cash equivalents include all cash balances and highly liquid investments with an initial maturity of three months or less. The Company places its temporary cash investments with high credit quality financial institutions. As of December 31, 2020 and 2019, $0.3 million and $0.1 million, respectively, of the Company's cash and cash equivalents is restricted to the payment of postretirement benefits for certain former Fox River executives. Inventories U.S. inventories are valued at the lower of cost, using the last-in, first-out ("LIFO") method for financial reporting purposes, or market. European inventories are valued at the lower of cost, using a weighted-average cost method, or net realizable value. Cost includes labor, materials and production overhead. Foreign Currency Balance sheet accounts of the Company's operations in Germany and the Netherlands, the United Kingdom (the "U.K."), and Canada are translated from Euros, British Pounds, and Canadian dollars, respectively, into U.S. dollars at period-end exchange rates, and income and expense accounts are translated at average exchange rates during the period. Translation gains or losses related to net assets located in Germany, the Netherlands, the U.K., and Canada are recorded as unrealized foreign currency translation adjustments within accumulated other comprehensive income (loss) ("AOCI") in stockholders' equity. Gains and losses resulting from foreign currency transactions (transactions denominated in a currency other than the entity's functional currency) are included in Other expense, net in the consolidated statements of operations. Property and Depreciation Property, plant and equipment are stated at cost, less accumulated depreciation. Certain costs of software developed or obtained for internal use are capitalized. When property, plant and equipment is sold or retired, the costs and the related accumulated depreciation are removed from the accounts, and the gains or losses are recorded in Other (income) expense, net. For financial reporting purposes, depreciation is principally computed on the straight-line method over estimated useful asset lives. The weighted average remaining useful lives for buildings, land improvements and machinery and equipment are approximately 17 years, 20 years and 9 years, respectively. The units-of-production method of depreciation is used for the U.S. transportation filtration production assets with a gross book value of $29.4 million, which reflects the nature of the assets' utilization. For income tax purposes, accelerated methods of depreciation are used. The costs of major rebuilds and replacements of plant and equipment are capitalized, and the cost of maintenance performed on manufacturing facilities, composed of labor, materials and other incremental costs, is expensed as incurred. Start-up costs for new or expanded facilities, including costs related to trial production, are expensed as incurred. The Company accounts for AROs in accordance with Accounting Standards Codification ("ASC") Topic 410, Asset Retirements and Environmental Obligations , which requires companies to make estimates regarding future events in order to record a liability for AROs in the period in which a legal obligation is created. Such liabilities are recorded at fair value, with an offsetting increase to the carrying value of the related long-lived asset. As of December 31, 2020, the Company is unable to estimate its AROs for environmental liabilities at its manufacturing facilities, but does not believe the liabilities related to AROs, if any, are material. Stock-Based Compensation The Company accounts for stock-based compensation in accordance with the fair value recognition provisions of ASC Topic 718, Compensation — Stock Compensation ("ASC Topic 718"). The amount of stock-based compensation cost recognized is based on the fair value of grants that are ultimately expected to vest and is recognized pro-rata over the requisite service period for the entire award. Research and Development Expense Research and development costs are charged to expense as incurred and are recorded in "Selling, general and administrative expenses" on the consolidated statement of operations. See Note 14, "Supplemental Data — Supplemental Statement of Operations Data." Fair Value Measurements The Company measures fair value in accordance with 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). Fair Value of Financial Instruments As of December 31, 2020 and 2019, the carrying values of the Company’s debt approximated fair value.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. The Company's investments in marketable securities are accounted for as "available-for-sale securities" in accordance with ASC Topic 320, Investments — Debt and Equity Securities ("ASC Topic 320"). Pursuant to ASC Topic 320, marketable securities are reported at fair value on the consolidated balance sheet and holding gains and losses are reported in "Other Income (Expense), net" on the Company's consolidated statements of operations. At December 31, 2020, the Company had $4.3 million in marketable securities classified as Other assets on the consolidated balance sheet. The cost of such marketable securities was $4.7 million. Fair value for the Company's marketable securities was estimated from Level 1 inputs. The Company's marketable securities are designated for the payment of benefits under its supplemental employee retirement plan ("SERP"). Fair Value of Pension Plan Assets With the exception of cash and cash equivalents which are considered Level 1, and certain annuity contracts which are considered Level 3, pension plan assets are measured at Net Asset Value ("NAV") (or its equivalent) as an alternative to fair market value due to the absence of readily available market prices, and as such are not subject to the fair value hierarchy. Following is the fair value of each investment category: • Cash and cash equivalents ($3.8 million and $0.8 million at December 31, 2020 and 2019, respectively). • U.S and non-U.S. Equities ($144.1 million and $122.5 million at December 31, 2020 and 2019, respectively) — These proprietary collective funds have observable NAVs (based on the fair value of the underlying investments of the funds) that are provided to investors and provide for liquidity either immediately or within a few days. • U.S and non-U.S. Fixed Income Securities ($224.8 million and $219.4 million at December 31, 2020 and 2019, respectively) — These proprietary collective funds have observable NAVs (based on the fair value of the underlying investments of the funds) that are provided to investors and provide for liquidity either immediately or within a few days. • Hedge Fund/Other ($31.6 million and $29.9 million at December 31, 2020 and 2019, respectively) — This fund is valued using NAVs calculated by the underlying investment managers and allow for quarterly or more frequent redemptions. The following table summarizes the changes in Level 3 defined benefit pension plan assets (Neenah Coldenhove insurance contract for which fair value is determined based on actuarial assumptions) measured at fair value on a recurring basis for the year ended December 31, 2020 and 2019: Return on plan assets Fair Value at January 1 Attributable to Assets Held at December 31 Attributable to Assets Sold Net Purchases/ (Settlements) Transfers into/ (out of) Level 3 Foreign currency effects Fair For the year ended December 31, 2018 $ 48.4 (0.9) — (0.3) — (2.1) $ 45.1 For the year ended December 31, 2019 $ 45.1 7.5 — (0.2) — (0.9) $ 51.5 For the year ended December 31, 2020 $ 51.5 5.0 — (1.5) — 5.1 $ 60.1 Acquisition-related costs and adjustments During the year ended December 31, 2020, the Company incurred $1.5 million of due diligence and transaction costs of acquisition attempts that were not consummated. No such costs were incurred during the year ended December 31, 2019. During the year ended December 31, 2018, the Company recognized $3.9 million of acquisition-related adjustments as income related to the acquisition of Coldenhove. 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 In August 2018, the Financial Accounting Standards Board (the "FASB") issued the Accounting Standards Update ("ASU") 2018-14, Compensation—Retirement Benefits—Defined Benefit Plans—General (Topic 715-20): Disclosure Framework—Changes to the Disclosure Requirements For Defined Benefit Plans . The ASU modified the annual disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans. The guidance requires disclosure changes to be presented on a retrospective basis. The Company adopted the guidance as of year-ended December 31, 2020. As this standard relates only to financial disclosures, its adoption did not have an impact on results of operations, financial position or cash flows. In January 2020, the Company adopted ASU 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. In March 2020, the FASB issued ASU 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.

Earnings per Share ("EPS")

Earnings per Share ("EPS")	12 Months Ended
	Dec. 31, 2020
Earnings Per Share [Abstract]
Earnings per Share ("EPS")	Earnings per Share ("EPS") The Company's restricted stock units ("RSUs") are paid non-forfeitable common stock dividends and thus meet the criteria of participating securities. Accordingly, basic EPS has been calculated using the two-class method, under which earnings are allocated to both common stock and participating securities. Basic EPS has been computed by dividing net income allocated to common stock by the weighted average common shares outstanding. For the computation of basic EPS, weighted average RSUs outstanding are excluded from the calculation of weighted average shares outstanding. ASC Topic 260, Earnings per Share ("ASC Topic 260") requires companies with participating securities to calculate diluted earnings per share using the "two class" method. The "two class" method requires first calculating diluted earnings per share using a denominator that includes the weighted average share equivalents from the assumed conversion of dilutive securities. Diluted earnings per share is then calculated using net income reduced by the amount of distributed and undistributed earnings allocated to participating securities calculated using the "Treasury Stock" method and a denominator that includes the weighted average share equivalents from the assumed conversion of dilutive securities excluding participating securities. Companies are required to report the lower of the diluted earnings per share amounts under the two calculations subject to the anti-dilution provisions of ASC Topic 260. Diluted EPS has been computed by dividing net income allocated to common stock by the weighted average number of common shares used in computing basic EPS, further adjusted to include the dilutive impact of the exercise or conversion of common stock equivalents, such as stock options, stock appreciation rights ("SARs") and target awards of RSUs with performance conditions ("Performance Share Units" or "PSUs"), into shares of common stock as if those securities were exercised or converted. For the years ended December 31, 2020, 2019 and 2018, approximately 332,000, 231,000 and 143,000 potentially dilutive options, respectively, were 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 respective 12-month periods during which the options were outstanding. In addition, as a result of the loss from continuing operations for the year ended December 31, 2020, incremental shares of 20,576, resulting from the dilutive options and performance share units, were excluded from the diluted earnings per share calculation as the effect would have been anti-dilutive. The following table presents the computation of basic and diluted shares of common stock used in the calculation of EPS (amounts in millions, except share and per share amounts): Earnings (loss) per basic common share Year Ended December 31, 2020 2019 2018 Income (loss) from continuing operations $ (15.8) $ 55.4 $ 37.2 Amounts attributable to participating securities (0.2) (0.3) (0.2) Income (loss) from continuing operations available to common stockholders (16.0) 55.1 37.0 Loss from discontinued operations, net of income taxes — — (0.8) Net income (loss) available to common stockholders $ (16.0) $ 55.1 $ 36.2 Weighted-average basic shares outstanding 16,813 16,848 16,850 Basic earnings (loss) per share Continuing operations $ (0.96) $ 3.27 $ 2.20 Discontinued operations — — (0.05) $ (0.96) $ 3.27 $ 2.15 Earnings (loss) per diluted common share Year Ended December 31, 2020 2019 2018 Income (loss) from continuing operations $ (15.8) $ 55.4 $ 37.2 Amounts attributable to participating securities (0.2) (0.3) (0.4) Income (loss) from continuing operations available to common stockholders (16.0) 55.1 36.8 Loss from discontinued operations, net of income taxes — — (0.8) Net income (loss) available to common stockholders $ (16.0) $ 55.1 $ 36.0 Weighted-average basic shares outstanding 16,813 16,848 16,850 Add: Assumed incremental shares under stock-based compensation plans — 58 118 Weighted average diluted shares 16,813 16,906 16,968 Diluted earnings (loss) per share Continuing operations $ (0.96) $ 3.26 $ 2.17 Discontinued operations — — (0.05) $ (0.96) $ 3.26 $ 2.12

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	12 Months Ended
	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets The Company follows the guidance of ASC Topic 805, Business Combinations ("ASC Topic 805"), in recording goodwill arising from a business combination as the excess of purchase price over the fair value of identifiable assets acquired and liabilities assumed. The Company tests goodwill for impairment at least annually on November 30 in conjunction with preparation of its annual business plan, or more frequently if events or circumstances indicate it might be impaired. The Company tested goodwill for impairment as of November 30, 2020 under ASC Topic 350, Intangibles — Goodwill and Other . In this quantitative assessment, the Company estimated the fair value of the reporting units principally using a discounted operating cash flow approach. Significant assumptions used in developing the discounted operating cash flow approach were revenue growth rates and pricing, costs for manufacturing inputs, levels of capital investment and estimated cost of capital for high, medium and low growth environments. Based on these assessments, the Company determined that the current fair value determinations were higher than the current carrying amount of the reporting units. There was no impairment in the carrying value of goodwill for the years ended December 31, 2020, 2019 and 2018, with the exception of $0.1 million of goodwill impairment related to the sale of the Brattleboro mill in 2018. See Note 12, "Asset Restructuring and Impairment Costs." Intangible assets with finite useful lives are amortized on a straight-line basis over their respective estimated useful lives to their estimated residual values, and reviewed for impairment in accordance with ASC Topic 360, Property, Plant, and Equipment . Intangible assets consist primarily of customer relationships, trade names and acquired intellectual property. Such intangible assets are amortized using the straight-line method over estimated useful lives of between 10 and 15 years. Certain trade names are estimated to have indefinite useful lives and as such are not amortized. Intangible assets with indefinite lives are reviewed for impairment at least annually. During the second quarter of 2020, the Company recorded an impairment loss for its indefinite-lived intangible assets (brand names) of $0.9 million and $0.4 million in the Fine Paper and Packaging and Technical Products segments, respectively, due to the adverse impacts of the pandemic. See Note 12, "Asset Restructuring and Impairment Costs." There was no impairment in the carrying value of intangible assets with indefinite lives for the years ended December 31, 2019 and 2018. The following table presents the carrying value of goodwill by business segment and changes in the carrying value of goodwill. Technical Products Fine Paper and Other Gross Accumulated Gross Amount Accumulated Gross Accumulated Net Net Net Net Balance at December 31, 2018 $ 124.9 $ (47.4) $ 77.5 $ 6.2 $ — $ 6.2 $ 0.4 $ (0.1) $ 0.3 $ 84.0 Realignment of Other segment (a) 0.4 (0.1) 0.3 — — — (0.4) 0.1 (0.3) — Foreign currency translation (1.9) 1.0 (0.9) — — — — — — (0.9) Balance at December 31, 2019 123.4 (46.5) 76.9 6.2 — 6.2 — — — 83.1 Foreign currency translation 8.6 (4.3) 4.3 — — — — — — 4.3 Balance at December 31, 2020 $ 132.0 $ (50.8) $ 81.2 $ 6.2 $ — $ 6.2 $ — $ — $ — $ 87.4 _______________________ (a) 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. See Note 13, "Business Segment and Geographic Information." Other Intangible Assets As of December 31, 2020, the Company had net identifiable intangible assets of $62.6 million. All such intangible assets were acquired in the acquisitions of Neenah Germany, Fox River, FiberMark, Neenah Coldenhove and the Crane technical materials business, and the acquisition of the Wausau and Southworth brands. The following table details amounts related to those assets. 12/31/2020 12/31/2019 Gross Accumulated Gross Accumulated Amortizable intangible assets Customer based intangibles $ 39.6 $ (24.0) $ 38.2 $ (20.4) Trade names and trademarks 5.2 (3.1) 5.1 (2.7) Acquired technology 17.3 (9.3) 16.9 (8.0) Total amortizable intangible assets 62.1 (36.4) 60.2 (31.1) Indefinite life trade names, net of impairment losses of $1.3 million as of 12/31/20 36.9 — 37.6 — Total $ 99.0 $ (36.4) $ 97.8 $ (31.1) As of December 31, 2020, $40.5 million and $22.1 million of such intangible assets are reported within the Technical Products and Fine Paper and Packaging, respectively. See Note 13, "Business Segment and Geographic Information." Aggregate amortization expense of acquired intangible assets for the years ended December 31, 2020, 2019 and 2018 was $3.7 million, $3.9 million and $4.3 million, respectively and was reported in selling, general and administrative expenses on the consolidated statement of operations. Estimated amortization expense for the years ended December 31, 2021, 2022, 2023, 2024 and 2025 is $3.6 million, $2.9 million, $2.8 million, $2.8 million and $2.8 million, respectively.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company accounts for income taxes in accordance with ASC Topic 740, Income Taxes . Income tax expense (benefit) represented (15.5) percent, 16.7 percent and 9.5 percent of income (loss) from continuing operations before income taxes for the years ended December 31, 2020, 2019 and 2018, respectively. The Company's effective income tax rate can be affected by many factors, including but not limited to, changes in the mix of earnings in taxing jurisdictions with differing statutory rates, the impact of research and development tax credits ("R&D Credits"), changes in tax laws and changes in corporate structure as a result of business acquisitions and dispositions. The 2020 effective income tax rate was significantly impacted by the $57.8 million of restructuring and impairment losses and the 2018 effective income tax rate was also reduced by the effects of the $31.1 million impairment loss of the Brattleboro mill and associated research and office facilities (see Note 12). In these two years, similar sized reconciling items had a significantly larger percentage impact on reduced pre-tax book income. On December 22, 2017, the U.S. government enacted comprehensive tax legislation in the Tax Cuts and Jobs Act of 2017 (the "TCJA"). The TCJA significantly revised the U.S. corporate income tax by, among other things, reducing the statutory corporate tax rate from 35% to 21% effective January 1, 2018, eliminating certain deductions, imposing a mandatory one-time tax on accumulated earnings of foreign subsidiaries, introducing new tax regimes and changing how foreign earnings are subject to U.S. tax. The TCJA also enhanced and extended through 2026 the option to claim accelerated depreciation deductions on qualified property. During 2018, the Company completed its analysis of the TCJA and interpreted additional guidance issued by the U.S. Treasury Department. In addition, legislative actions by the various U.S. states related to application of the TCJA provisions on state tax returns were considered. The Company recorded adjustments throughout 2018 to reflect a tax benefit of $0.9 million related to the effects of the statutory corporate tax rate reduction and a tax expense of $0.8 million from U.S. federal and state taxes on accumulated earnings and profits ("E&P") of its foreign subsidiaries. As of December 31, 2018, a cumulative net tax benefit of $6.6 million related to the TCJA was reflected, comprised of a $11.2 million tax benefit from the remeasurement of federal net deferred income tax liabilities resulting from the reduction in the U.S. statutory corporate tax rate, less $4.6 million of tax expense from the mandatory one-time U.S. federal tax on certain previously untaxed accumulated E&P of its foreign subsidiaries and related state income tax impacts. As of December 31, 2018, the measurement period for purposes of SAB 118 ended and the Company completed the accounting for all of the impacts of the TCJA. The TCJA also required a U.S. shareholder of a foreign corporation to include in taxable income its global intangible low-taxed income ("GILTI"). In general, GILTI is described as the excess of a U.S. shareholder’s total net foreign income over a deemed return on tangible assets, which is defined as 10% of its foreign qualified business asset investment reduced by certain interest expense amounts. The TCJA allows a deduction of 50% of GILTI, but this deduction is limited by the taxpayer’s taxable income. An entity also is allowed a deemed paid foreign tax credit of up to 80% of foreign taxes attributable to the underlying foreign corporation. Unused foreign tax credits associated with GILTI cannot be carried forward or back or used against other foreign source income. A U.S. shareholder would increase its tax basis in the foreign corporation for the GILTI inclusion. The Company elected an accounting policy to record GILTI tax expense as a period cost, if and when incurred each year, in its annual effective tax rate. On March 27, 2020, the U.S. government enacted the Coronavirus Aid, Relief and Economic Security Act ("CARES Act"). The CARES Act included various income and payroll tax provisions designed to stimulate the economy and provide relief to businesses. Among its benefits was the ability to enhance the value of NOLs by allowing the carryback of NOLs to tax years in which the U.S. federal statutory income tax rate was 35%. During the three months ended December 31, 2020, the Company recorded an income tax benefit of $0.9 million and a corresponding tax receivable for $8.0 million for the tax refund to be received during 2021. The Company also elected the option to delay payment of $4.4 million of 2020 payroll taxes until December 31, 2021 and 2022. Also, the Company utilized the payroll tax provisions of the Employee Retention Credit of the CARES Act to partially offset qualified wages and benefits of employees impacted by COVID-19 travel and other restrictions. Similar COVID-19 relief legislation was also enacted in Germany, the Netherlands and the U.K. aimed at providing subsidies for employee retention and deferral of tax payments. The following table presents the principal reasons for the difference between the Company's effective income tax rate and the U.S. federal statutory income tax rate: Year Ended December 31, 2020 2020 2019 2019 2018 2018 U.S. federal statutory income tax rate (21.0) % $ (3.9) 21.0 % $ 14.0 21.0 % $ 8.6 U.S. state income taxes, net of federal income tax benefit (10.2) % (1.9) 1.4 % 0.9 (1.0) % (0.4) Foreign tax rate differences (a) 15.0 % 2.8 3.6 % 2.4 6.8 % 2.8 Foreign financing structure (b) (11.2) % (2.1) (3.0) % (2.0) (5.1) % (2.1) U.S. tax on foreign earnings (c) 4.3 % 0.8 0.9 % 0.6 3.6 % 1.5 Research and development and other tax credits (15.5) % (2.9) (6.2) % (4.1) (10.5) % (4.3) Benefit of CARES Act NOL carryback (d) (4.8) % (0.9) — % — — % — Change in valuation allowances (e) 25.2 % 4.7 0.2 % 0.1 — % — Change in reserves for uncertain tax positions (3.7) % (0.7) (1.9) % (1.3) 2.0 % 0.8 Change in statutory tax rates (f) — % — — % — (3.9) % (1.6) Excess tax benefits from stock compensation 1.1 % 0.2 (0.2) % (0.1) (2.9) % (1.2) Other differences, net 5.3 % 1.0 0.9 % 0.6 (0.5) % (0.2) Effective income tax rate (15.5) % $ (2.9) 16.7 % $ 11.1 9.5 % $ 3.9 _______________________ (a) Represents the impact on the Company's effective tax rate due to the mix of earnings among taxing jurisdictions with differing statutory rates. In each year, the U.S. federal tax rate is lower than the tax rate in Germany and the Netherlands. (b) Represents the impact on the Company's effective tax rate of the Company's financing strategies. (c) For 2018, the amount includes an adjustment of $0.8 million due to the mandatory one-time tax on the accumulated E&P of foreign subsidiaries and in all years includes federal GILTI impacts and state taxation of foreign E&P. (d) Represents the net benefit of the CARES Act provision to allow for the carryback of the NOL generated in 2020 to the 2015 tax year. The net tax benefit of $0.9 million included a $5.0 million benefit from the tax rate differential and other factors, offset by a $3.0 million impact from provisions of GILTI and a $1.1 million increase in the reserve for uncertain income tax positions for restored R&D Credits. (e) For 2020, as a result of the impacts of COVID-19 and other factors, we evaluated our ability to utilize our deferred tax assets, including research and development and other tax credits and NOLs, before they expire. We recorded a $4.6 million increase to the valuation allowance against our state tax credits and NOLs, the majority of which related to adjustments to the beginning of year valuation allowance for changes in judgment about the realizability of these deferred tax assets in future years. (f) Represents the net benefit from remeasurement of the net deferred income tax liabilities from tax rate changes. For 2018, the amount reflects a tax benefit adjustment of $0.9 million from the TCJA, plus $0.7 million of tax benefit from a federal tax rate change in the Netherlands. The following table presents the U.S. and foreign components of income from continuing operations before income taxes: Year Ended December 31, 2020 2019 2018 Income (loss) from continuing operations before income taxes: U.S. $ (55.6) $ 30.1 $ (1.7) Foreign 36.9 36.4 42.8 Total $ (18.7) $ 66.5 $ 41.1 The following table presents the components of the provision (benefit) for income taxes: Year Ended December 31, 2020 2019 2018 Provision (benefit) for income taxes: Current: Federal $ (8.1) $ 0.3 $ (3.0) State 0.3 (0.2) 0.1 Foreign 9.8 7.6 8.7 Total current income tax provision 2.0 7.7 5.8 Deferred: Federal (6.5) 3.0 (0.6) State 2.5 0.8 (0.2) Foreign (0.9) (0.4) (1.1) Total deferred income tax provision (4.9) 3.4 (1.9) Total provision (benefit) for income taxes $ (2.9) $ 11.1 $ 3.9 The Company has elected to treat its Canadian subsidiary as a branch for U.S. income tax purpose. Therefore, its pre-tax loss, arising primarily from employee benefit plan costs, is included in determining U.S. federal and state income taxes. The asset and liability approach is used to recognize deferred income tax assets and liabilities for the expected future tax consequences of temporary differences between the carrying amounts and the tax basis of assets and liabilities. The components of deferred income tax assets and liabilities, net of reserves for uncertain tax positions and valuation allowances, are as follows: December 31, 2020 2019 Deferred income tax assets (liabilities) Research and development tax credits $ 27.5 $ 21.5 Employee benefits 15.6 15.9 Net operating losses and other tax credits 3.7 6.4 Lease liabilities 4.6 3.1 Accrued liabilities 1.4 2.1 Inventories (a) — (0.6) Lease right-of-use assets (4.3) (2.8) Intangibles (4.7) (4.7) Property, plant and equipment (a) (26.7) (28.0) Other 1.2 0.5 Net deferred income tax assets $ 18.3 $ 13.4 Deferred income tax assets (liabilities) Property, plant and equipment $ (16.8) $ (16.7) Intangibles (3.0) (3.0) Inventories (0.8) (0.9) Lease right-of-use assets (0.9) (0.7) Net operating losses 0.2 0.2 Lease liabilities 0.9 0.7 Employee benefits 9.5 7.5 Other (1.4) — Net deferred income tax liabilities $ (12.3) $ (12.9) _______________________ (a) As of December 31, 2020, included within property, plant and equipment and inventories was a deferred tax liability resulting from tax accounting method changes of $(3.5) million and $(0.6) million, respectively. The presentation above reflects net deferred income tax assets of U.S. federal and state jurisdictions and the net deferred income tax liabilities related to operations of Germany, the Netherlands and the U.K. As of December 31, 2020, the Company had $28.2 million of U.S. federal and $7.4 million of U.S. state R&D Credits which, if not used, will expire between 2028 and 2040 for the U.S. federal R&D Credits and between 2021 and 2035 for the state R&D Credits. As of December 31, 2020, the Company had $71.8 million of state NOLs which may be used to offset state taxable income. The NOLs are reflected in the consolidated financial statements as a deferred income tax asset of $4.4 million. If not used, substantially all of the NOLs will expire in various amounts between 2021 and 2040. The Company had pre-acquisition and recognized built-in loss carryovers of $7.6 million, reflected as a deferred income tax asset of $1.6 million. As of December 31, 2020 and 2019, the Company had $66.5 million and $48.8 million, respectively, of undistributed earnings (net of foreign taxes) of foreign subsidiaries. Except for immaterial foreign currency exchange considerations, the Company will be able to repatriate these foreign earnings without U.S. federal taxation due to previously taxed income under the GILTI provisions. The Company or one of its subsidiaries files income tax returns in the U.S. federal jurisdiction, various U.S. state jurisdictions and foreign jurisdictions. The Company is no longer subject to U.S. federal examination for years before 2017, to state and local examinations for years before 2016 and to non-U.S. income tax examinations for years before 2014. The following is a tabular reconciliation of the total amounts of uncertain tax positions as of and for the years ended December 31, 2020, 2019 and 2018: For the Years Ended 2020 2019 2018 Balance at January 1, $ 7.8 $ 10.1 $ 10.0 Increases in prior period tax positions 1.1 0.7 0.1 Decreases in prior period tax positions (0.2) (1.2) — Increases in current period tax positions 0.6 0.6 0.8 Decreases due to lapse of statutes of limitations (1.3) (1.5) (0.6) Increases due to change in tax rates — — 0.1 Decreases due to settlements with tax authorities — (0.9) (0.2) Increases (decreases) from foreign exchange rate changes — — (0.1) Balance at December 31, $ 8.0 $ 7.8 $ 10.1 The $8.0 million of reserves for uncertain tax positions as of December 31, 2020 were reflected on the consolidated balance sheets as follows: $7.7 million netted against deferred income tax assets and $0.3 million in other noncurrent obligations. The $7.8 million of reserves for uncertain tax positions as of December 31, 2019 were reflected on the consolidated balance sheets as follows: $7.3 million netted against deferred income tax assets and $0.5 million in other noncurrent obligations. The $10.1 million of reserves for uncertain tax positions as of December 31, 2018 were reflected on the consolidated balances as follows: $7.9 million netted against deferred income tax assets and $2.2 million in other noncurrent obligations. If recognized, $6.1 million of the benefit for uncertain tax positions at December 31, 2020 would favorably affect the Company's effective tax rate in future periods. The Company files income tax returns and is subject to examination by various taxing jurisdictions. The Company records uncertain tax positions in accordance with ASC 740 on the basis of a two-step process in which (1) it is determined whether it is more likely than not that the tax positions will be sustained on the basis of the technical merits of the position, and (2) for those tax positions that meet the more-likely-than-not recognition threshold, the Company recognizes the largest amount of tax benefit that is more than 50 percent likely to be realized upon ultimate settlement with the related tax authority. The Company does not expect that facts and circumstances such as the expiration of statutes of limitations or the settlement of audits in the next 12 months will result in liabilities for uncertain income tax positions that are materially different than the amounts that were accrued as of December 31, 2020. The Company recognizes accrued interest and penalties related to uncertain income tax positions in the Provision for income taxes on the consolidated statements of operations. As of December 31, 2020 and 2019, the Company had less than $0.1 million and $0.1 million, respectively, accrued for interest and penalties related to uncertain income tax positions. As of December 31, 2020 and 2019, the Company had $5.3 million and $5.2 million of foreign tax credits, all of which the Company believes will expire unutilized. Therefore, as of December 31, 2020 and 2019, the Company recorded a full valuation allowance equal to the amount of this deferred income tax asset. As of December 31, 2020 and 2019, the Company also had a valuation allowance of $6.4 million and $0.7 million, respectively, against the gross value of its state

Debt

Debt	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Debt	2.50 50% of Excess Cash Flow “Secured Leverage Ratio” means the ratio, for the four most recent fiscal quarters, of the net secured indebtedness of the Company as of the last day of such period to EBITDA for such period. “Excess Cash Flow” means consolidated net income, plus or minus adjustments for specified items including, among others:(i) increases or decreases in working capital, (ii) certain capital expenditures, (iii) scheduled principal payments and voluntary prepayments of certain funded indebtedness, (iv) to the extent not deducted in calculating consolidated net income, interest expense and any premium, make-whole or penalty payments in respect of indebtedness, (v) taxes, to the extent not deducted in calculating consolidated net income, (vi) permitted acquisitions and certain other permitted investments, and (vii) up to $8.75 million per fiscal quarter of regularly scheduled quarterly cash dividends paid by the Company. The Term Loan Credit Agreement contains covenants and events of default which the Company believes are customary for agreements of this nature. Under the most restrictive terms of the Term Loan Credit Agreement, we are permitted to pay cash dividends and repurchase shares of our common stock in an aggregate amount not to exceed $8,750,000 per fiscal quarter. However, as long as the total leverage ratio calculated in accordance with the Term Loan Credit Agreement does not exceed 2.5 to 1.0, we can pay dividends or repurchase shares without limitation. In the event the total leverage ratio exceeds 2.5 to 1.0 but is less than or equal to 3.5 to 1.0, we may still pay dividends or repurchase shares of our common stock in an aggregate amount in excess of $8,750,000 per fiscal quarter by utilizing certain "restricted payment baskets" described in the Term Loan Credit Agreement. In addition, we would be permitted to pay cash dividends and repurchase shares of, our common stock in excess of $8,750,000 per fiscal quarter if the aggregate amount of such payments, together with the amount of redemptions or prepayments of certain indebtedness, is less than or equal to the greater of (i) $65 million and (ii) 9% of our consolidated tangible assets. As of December 31, 2020, since our total leverage ratio was less than 2.5 to 1.0, none of these covenants were restrictive to our ability to pay dividends on or repurchase shares of our common stock. Amended and Restated Secured Global 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") by and among the Company and certain of its domestic subsidiaries (the "Domestic Borrowers"), Neenah Services GmbH & Co. KG and certain of its German subsidiaries (the "German Borrowers"), certain other subsidiaries as the "German Guarantors", the financial institutions signatory to the Fourth Amended Credit Agreement as lenders (the "Lenders"), and JPMorgan Chase Bank, N.A., as agent for the Lenders (the "Administrative Agent"). The Fourth Amended Credit Agreement, among other things: (1) increased the maximum principal amount of the existing credit facility for the Domestic Borrowers to $150 million (the "U.S. Revolving Credit Facility"); (2) maintains the secured, multicurrency, revolving credit facility for the German Borrowers in the maximum principal amount of $75 million (the "German Revolving Credit Facility," and together with the U.S. Revolving Credit Facility, the "Global Revolving Credit Facility"); (3) caused the Company and the other Domestic Borrowers to guarantee, among other things, the obligations of the German Borrowers arising under the German Revolving Credit Facility; (4) provides for the Global Revolving Credit Facility to mature on December 10, 2023; and (5) modifies the accordion feature permitting one or more increases in the Global Revolving Credit Facility in an aggregate principal amount not exceeding $125 million, such that the aggregate commitments under the Global Revolving Credit Facility do not exceed $350 million. In addition, the Domestic Borrowers may request letters of credit under the U.S. Revolving Credit Facility in an aggregate face amount not to exceed $20 million outstanding at any time, and the German Borrowers may request letters of credit under the German Revolving Credit Facility in an aggregate face amount not to exceed $5 million outstanding at any time. On June 30, 2020, the Company amended the Fourth Amended Credit Agreement by entering into a Third Amendment (the "Third Amendment") to among other things, (a) remove the applicable components of the TLB Priority Collateral from the borrowing base calculation under the U.S. Revolving Credit Facility, (b) permit the pledging of the Collateral under the Term B Facility and subordinate liens of the Fourth Amended and Restated Credit Agreement lenders on TLB Priority Collateral to the first position liens on TLB Priority Collateral under the Term B Facility, (c) reduce the U.S. Revolving Credit Facility amount from $150 million to $125 million, (d) reduce the German Revolving Credit Facility amount from $75 million to $50 million, and (e) adjust certain reporting and financial covenant activation and deactivation thresholds. Proceeds of borrowings under the Global Revolving Credit Facility may be used to finance working capital needs, permitted acquisitions, permitted investments (including certain inter-company loans), certain dividends, distributions and other restricted payments, and for other general corporate purposes. The consolidated statements of cash flows present borrowings and repayments under the Global Revolving Credit Facility and the predecessor revolving bank credit facility 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 years ended December 31, 2020, 2019, and 2018 all of the borrowings related to the daily cash management. The right of the Domestic Borrowers to borrow and obtain letters of credit under the U.S. Revolving Credit Facility is subject to, among other things, the borrowing base of the Domestic Borrowers on a consolidated basis (the "Domestic Borrowing Base"). The right of the German Borrowers to borrow and obtain letters of credit under the German Revolving Credit Facility is similarly subject to a borrowing base requirement (the "German Borrowing Base"). The German Borrowing Base is initially determined on a combined basis for all German Borrowers. Under certain circumstances (including the occurrence of an event of default resulting from an act or omission of any German Borrower or German Guarantor), the Administrative Agent may require the German Borrowing Base to be determined separately for each of the German Borrowers. At its option the Company may, from time to time, allocate a portion of the Domestic Borrowing Base to the German Borrowing Base (resulting in a corresponding reduction of the Domestic Borrowing Base); however, the principal amount of borrowings and the outstanding letter of credit exposure under the German Revolving Credit Facility may not at any time exceed the German Revolving Credit Facility commitment amount then in effect. The guarantees of the German Guarantors are limited solely to the German Revolving Credit Facility obligations. Under the terms of the Fourth Amended Credit Agreement and related loan documentation, neither the German Borrowers nor the German Guarantors (collectively, the "German Loan Parties") will be liable for any obligations relating to the U.S. Revolving Credit Facility. The Global Revolving Credit Facility is secured by liens on all or substantially all of the assets of the Domestic Borrowers. The German Revolving Credit Facility is secured by liens on all or substantially all of the assets of the German Borrowers and certain assets of the German Guarantors. Any liens granted by the German Loan Parties secure only the German Revolving Credit Facility obligations. Terms, Covenants and Events of Default. In general, borrowings under the Global Revolving Credit Facility will bear interest at LIBOR (which cannot be less than zero) plus an applicable margin ranging from 1.25% to 1.75%, depending on the amount of availability under the Fourth Amended Credit Agreement. In addition, the Company may elect an alternate borrowing rate ("ABR") for borrowings under the Global Revolving Credit Facility. ABR borrowings under the Global Revolving Credit Facility will bear interest at the highest interest rate shown in the following table: Applicable Margin U.S. Revolving German Revolving Prime rate —%-0.25% Not applicable Federal funds rate +0.50% —%-0.25% Not applicable Monthly LIBOR (which cannot be less than zero) +1.00% —%-0.25% Not applicable Overnight LIBOR (which cannot be less than zero) Not applicable 1.25%-1.75% The Company is also required to pay a monthly commitment fee on the unused amounts available under the Global Revolving Credit Facility at a per annum rate of 0.25%. If specified excess availability (i.e., aggregate availability, plus any excess of the aggregate borrowing base over the aggregate commitments under the Global Revolving Credit Facility as then in effect, subject to certain limitations) under the Global Revolving Credit Facility is less than the greater of (i) $15 million and (ii) 10% of the aggregate commitments under the Global Revolving Credit Facility as then in effect, the Company is required to comply with a fixed charge coverage ratio (as defined in the Fourth Amended Credit Agreement) of not less than 1.1 to 1.0 for the preceding four-quarter period, tested as of the end of each quarter. Such compliance, once required, would no longer be necessary once (x) specified excess availability under the Global Revolving Credit Facility exceeds the greater of (i) 17.5% of the aggregate commitment for the Global Revolving Credit Facility and (ii) $25 million for 60 consecutive days and (y) no default or event of default has occurred and is continuing during such 60-day period. As of December 31, 2020, specified excess availability under the Global Revolving Credit Facility exceeded the minimum required amount, and the Company is not required to comply with such fixed charge coverage ratio. The Fourth Amended Credit Agreement contains affirmative, reporting and negative covenants, events of default and other terms which the Company believes are ordinary and standard for agreements of this nature, with which the Company and its subsidiaries must comply during the term of the agreement. Among other things, such covenants restrict the ability of the Company and its subsidiaries to incur certain debt, incur or create certain liens, make specified restricted payments, authorize or issue capital stock, enter into transactions with their affiliates, consolidate, merge with or acquire another business, sell certain of their assets, or dissolve or wind up. In addition, if t he specified excess availability under the Global Revolving Credit Facility is less than the greater of (i) $20 million and (ii) 12.5% of the aggregate commitments under the Global Revolving Credit Facility as then in effect, the Company will be subject to increased reporting obligations and controls until such time as availability is more than the greater of (a) $25 million and (b) 17.5% of the aggregate commitments under the Global Revolving Credit Facility as then in effect. Under the terms of the Fourth Amended and Restated Credit Agreement, we are permitted to pay cash dividends on, and repurchase shares of, our common stock without limitation, as long as our specified excess availability under the Fourth Amended and Restated Credit Agreement exceeds the greater of (i) $20 million a nd (ii) 12.5% of our aggregate commitments under the Global Revolving Credit Facilit y (approximately $22 million as of December 31, 2020), on a pro forma basis after giving effect to such dividend or stock repurchase (as the case may be). If our specified excess availability, on a pro forma basis, is less than the applicable threshold, we are subject to certain restrictions on the amount of cash dividends we are permitted to declare and the amount of share repurchases we are permitted to execute . As of December 31, 2020, the Company's availability exceeded the applicable threshold, so this restriction did not apply. The Fourth Amended Credit Agreement also contains events of default customary for financings of this type, including failure to pay principal or interest, materially false representations or warranties, failure to observe covenants and certain other terms of the Fourth Amended Credit Agreement, cross-defaults to certain other indebtedness, bankruptcy, insolvency, various ERISA and foreign pension violations, the occurrence of material judgments and changes in control. Availability under the Global Revolving Credit Facility varies over time depending on the value of the Company's inventory, receivables and (in the case of the German Revolving Credit Facility) various capital assets. As of December 31, 2020, the Company had no borrowings and $0.3 million in letters of credit outstanding under the Global Revolving Credit Facility and $138.6 million of available credit (based on exchanges rates at December 31, 2020). As of December 31, 2020 and 2019, the weighted-average interest rate on outstanding Revolver borrowings was 1.3 percent per annum. Other Debt In January 2013, Neenah Germany entered into a project financing agreement for the construction of a melt blown machine (the "Second German Loan Agreement"). The Second German Loan Agreement provided €9.0 million of construction financing which is secured by the melt blown machine. The loan matures in September 2022 and principal is repaid in equal quarterly installments. The interest rate on amounts outstanding is 2.45% and is payable quarterly. At December 31, 2020, €2.0 million ($2.4 million, based on exchange rates at December 31, 2020) was outstanding under the Second German Loan Agreement. In May 2018, Neenah Germany entered into a project financing agreement for the construction of a regenerative thermal oxidizer ("RTO") (the "Third German Loan Agreement"). The purposes of the project were to increase the capacity of the existing saturators and ensure compliance with new European air emission standards. The Third German Loan Agreement provided €5.0 million of financing and is secured by the asset. The loan matures in September 2022 and principal is repaid in equal quarterly installments. The interest rate on amounts outstanding is 1.45% and is payable quarterly. In the fourth quarter 2018, the Company received a subsidy from the German government of $0.9 million due to completion of the RTO project in the form of a principal reduction. At December 31, 2020, €2.1 million ($2.6 million, based on exchange rates at December 31, 2020) was outstanding under the Third German Loan Agreement. Principal Payments The following table presents the Company's required debt payments: 2021 2022 2023 2024 2025 Thereafter Total Debt payments $ 4.9 $ 4.1 $ 2.0 $ 2.0 $ 2.0 $ 189.0 $ 204.0 " id="sjs-B4" xml:space="preserve">Debt Long-term debt consisted of the following: December 31, 2020 2019 Term Loan B Credit Facility (variable rates) due June 2027 $ 199.0 $ — 2021 Senior Notes (5.25% fixed rate) due May 2021 — 175.0 Global Revolving Credit Facility (variable rates) due December 2023 — 21.6 Second German Loan Agreement (2.45% fixed rate) due in quarterly installments ending September 2022 2.4 3.5 Third German Loan Agreement (1.45% fixed rate) due in quarterly installments ending September 2022 2.6 3.7 Deferred financing costs (9.6) (3.0) Total Debt 194.4 200.8 Less: Debt payable within one year 4.9 2.6 Long-term debt $ 189.5 $ 198.2 Unsecured 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 bore interest at a rate of 5.25%, payable in arrears on May 15 and November 15 of each year, and were scheduled to mature on May 15, 2021. On June 30, 2020, the Company initiated the calling of the 2021 Senior Notes for redemption in full and recorded a debt extinguishment charge of $1.9 million related to the write-off of the remaining deferred financing costs associated with the 2021 Senior Notes. The redemption and satisfaction of the 2021 Senior Notes was completed on July 16, 2020. Term Loan B Credit Facility On June 30, 2020, the Company entered into a Term Loan Credit Agreement (the “Term Loan Credit Agreement”) by and among the Company, as borrower, certain of its domestic subsidiaries, as guarantors (the “Guarantors”, and together with the Company, the “Term Loan Parties”), a syndicate of banks, financial institutions and other entities as lenders (the “TLB Lenders”), and JPMorgan Chase Bank, N.A., as administrative agent for the Term Loan B Lenders. The Term Loan Credit Agreement provides a seven-year Term Loan B credit facility (the "Term B Facility") in the initial principal amount of $200 million (the "Term Loan B".) The Term Loan B was executed in a single $200 million draw on the closing date. Proceeds under the Term B Facility were used to redeem in full the 2021 Senior Notes, repay borrowings under the Company’s senior secured revolving credit facility, pay fees and expenses of the transaction and for general corporate purposes. Under the terms of the Term Loan Credit Agreement, and subject to certain conditions and adjustments, the Company may from time to time solicit the Term Loan B Lenders or new lenders to provide incremental term loan financings under the Term B Facility up to $125 million in the aggregate (each an "Incremental Term Facility"). The proceeds of an Incremental Term Facility may be used for general corporate purposes of the Company and its subsidiaries, including permitted acquisitions, investments and other uses not prohibited by the Term Loan Credit Agreement. The obligations under the Term Loan Credit Agreement are jointly and severally guaranteed by the Guarantors and are secured by all or substantially all of the assets of the Term Loan Parties, including (i) a first- priority security interest in substantially all of the tangible and intangible non-current assets of the Term Loan Parties (collectively, the “TLB Priority Collateral”), and (ii) a second-priority security interest in substantially all of the current assets of the Term Loan Parties comprising priority collateral of the lenders under the Company’s secured revolving credit facility (together with the TLB Priority Collateral, the “Collateral”). Under the terms of the Term Loan Credit Agreement, borrowings under the Term B Facility will bear interest, as selected by the Company, at a per annum rate equal to either (a) the reserve-adjusted LIBOR rate for interest periods of one, two or three months, plus an applicable rate of 4.00% per annum, or (b) the Alternate Base Rate, plus an applicable rate of 2.00% per annum. “Alternate Base Rate” will be equal to the greatest of (1) the prime rate as quoted from time to time in The Wall Street Journal or published by the Federal Reserve Board, (2) the overnight bank funding rate established by the Federal Reserve Bank of New York, plus 50 basis points, and (3) one-month reserve-adjusted LIBOR plus 100 basis points. The Alternate Base Rate is subject to a “floor” of 2.0%, and the adjusted LIBOR rate is subject to a “floor” of 1.0%. As of December 31, 2020 , the weighted-average interest rate on outstanding Term Loan borrowings was 5.0% per annum. The Term Loan B is repayable in equal quarterly installments commencing on September 30, 2020 in an aggregate annual amount equal to 1% of the original principal amount of the Term B Facility (subject to certain reductions in connection with debt prepayments and debt buybacks). The entire unpaid principal balance of the Term Loan B, together with all accrued and unpaid interest thereon, will be due and payable at maturity on June 30, 2027. The Company is required to make mandatory prepayments of the Term Loan B, commencing with the fiscal year ending December 31, 2021, based on certain secured leverage ratios levels, among other requirements, as per below: Secured leverage ratio levels Mandatory prepayments < 1.50 No prepayments required 1.50 - 2.50 25% of Excess Cash Flow > 2.50 50% of Excess Cash Flow “Secured Leverage Ratio” means the ratio, for the four most recent fiscal quarters, of the net secured indebtedness of the Company as of the last day of such period to EBITDA for such period. “Excess Cash Flow” means consolidated net income, plus or minus adjustments for specified items including, among others:(i) increases or decreases in working capital, (ii) certain capital expenditures, (iii) scheduled principal payments and voluntary prepayments of certain funded indebtedness, (iv) to the extent not deducted in calculating consolidated net income, interest expense and any premium, make-whole or penalty payments in respect of indebtedness, (v) taxes, to the extent not deducted in calculating consolidated net income, (vi) permitted acquisitions and certain other permitted investments, and (vii) up to $8.75 million per fiscal quarter of regularly scheduled quarterly cash dividends paid by the Company. The Term Loan Credit Agreement contains covenants and events of default which the Company believes are customary for agreements of this nature. Under the most restrictive terms of the Term Loan Credit Agreement, we are permitted to pay cash dividends and repurchase shares of our common stock in an aggregate amount not to exceed $8,750,000 per fiscal quarter. However, as long as the total leverage ratio calculated in accordance with the Term Loan Credit Agreement does not exceed 2.5 to 1.0, we can pay dividends or repurchase shares without limitation. In the event the total leverage ratio exceeds 2.5 to 1.0 but is less than or equal to 3.5 to 1.0, we may still pay dividends or repurchase shares of our common stock in an aggregate amount in excess of $8,750,000 per fiscal quarter by utilizing certain "restricted payment baskets" described in the Term Loan Credit Agreement. In addition, we would be permitted to pay cash dividends and repurchase shares of, our common stock in excess of $8,750,000 per fiscal quarter if the aggregate amount of such payments, together with the amount of redemptions or prepayments of certain indebtedness, is less than or equal to the greater of (i) $65 million and (ii) 9% of our consolidated tangible assets. As of December 31, 2020, since our total leverage ratio was less than 2.5 to 1.0, none of these covenants were restrictive to our ability to pay dividends on or repurchase shares of our common stock. Amended and Restated Secured Global 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") by and among the Company and certain of its domestic subsidiaries (the "Domestic Borrowers"), Neenah Services GmbH & Co. KG and certain of its German subsidiaries (the "German Borrowers"), certain other subsidiaries as the "German Guarantors", the financial institutions signatory to the Fourth Amended Credit Agreement as lenders (the "Lenders"), and JPMorgan Chase Bank, N.A., as agent for the Lenders (the "Administrative Agent"). The Fourth Amended Credit Agreement, among other things: (1) increased the maximum principal amount of the existing credit facility for the Domestic Borrowers to $150 million (the "U.S. Revolving Credit Facility"); (2) maintains the secured, multicurrency, revolving credit facility for the German Borrowers in the maximum principal amount of $75 million (the "German Revolving Credit Facility," and together with the U.S. Revolving Credit Facility, the "Global Revolving Credit Facility"); (3) caused the Company and the other Domestic Borrowers to guarantee, among other things, the obligations of the German Borrowers arising under the German Revolving Credit Facility; (4) provides for the Global Revolving Credit Facility to mature on December 10, 2023; and (5) modifies the accordion feature permitting one or more increases in the Global Revolving Credit Facility in an aggregate principal amount not exceeding $125 million, such that the aggregate commitments under the Global Revolving Credit Facility do not exceed $350 million. In addition, the Domestic Borrowers may request letters of credit under the U.S. Revolving Credit Facility in an aggregate face amount not to exceed $20 million outstanding at any time, and the German Borrowers may request letters of credit under the German Revolving Credit Facility in an aggregate face amount not to exceed $5 million outstanding at any time. On June 30, 2020, the Company amended the Fourth Amended Credit Agreement by entering into a Third Amendment (the "Third Amendment") to among other things, (a) remove the applicable components of the TLB Priority Collateral from the borrowing base calculation under the U.S. Revolving Credit Facility, (b) permit the pledging of the Collateral under the Term B Facility and subordinate liens of the Fourth Amended and Restated Credit Agreement lenders on TLB Priority Collateral to the first position liens on TLB Priority Collateral under the Term B Facility, (c) reduce the U.S. Revolving Credit Facility amount from $150 million to $125 million, (d) reduce the German Revolving Credit Facility amount from $75 million to $50 million, and (e) adjust certain reporting and financial covenant activation and deactivation thresholds. Proceeds of borrowings under the Global Revolving Credit Facility may be used to finance working capital needs, permitted acquisitions, permitted investments (including certain inter-company loans), certain dividends, distributions and other restricted payments, and for other general corporate purposes. The consolidated statements of cash flows present borrowings and repayments under the Global Revolving Credit Facility and the predecessor revolving bank credit facility 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 years ended December 31, 2020, 2019, and 2018 all of the borrowings related to the daily cash management. The right of the Domestic Borrowers to borrow and obtain letters of credit under the U.S. Revolving Credit Facility is subject to, among other things, the borrowing base of the Domestic Borrowers on a consolidated basis (the "Domestic Borrowing Base"). The right of the German Borrowers to borrow and obtain letters of credit under the German Revolving Credit Facility is similarly subject to a borrowing base requirement (the "German Borrowing Base"). The German Borrowing Base is initially determined on a combined basis for all German Borrowers. Under certain circumstances (including the occurrence of an event of default resulting from an act or omission of any German Borrower or German Guarantor), the Administrative Agent may require the German Borrowing Base to be determined separately for each of the German Borrowers. At its option the Company may, from time to time, allocate a portion of the Domestic Borrowing Base to the German Borrowing Base (resulting in a corresponding reduction of the Domestic Borrowing Base); however, the principal amount of borrowings and the outstanding letter of credit exposure under the German Revolving Credit Facility may not at any time exceed the German Revolving Credit Facility commitment amount then in effect. The guarantees of the German Guarantors are limited solely to the German Revolving Credit Facility obligations. Under the terms of the Fourth Amended Credit Agreement and related loan documentation, neither the German Borrowers nor the German Guarantors (collectively, the "German Loan Parties") will be liable for any obligations relating to the U.S. Revolving Credit Facility. The Global Revolving Credit Facility is secured by liens on all or substantially all of the assets of the Domestic Borrowers. The German Revolving Credit Facility is secured by liens on all or substantially all of the assets of the German Borrowers and certain assets of the German Guarantors. Any liens granted by the German Loan Parties secure only the German Revolving Credit Facility obligations. Terms, Covenants and Events of Default. In general, borrowings under the Global Revolving Credit Facility will bear interest at LIBOR (which cannot be less than zero) plus an applicable margin ranging from 1.25% to 1.75%, depending on the amount of availability under the Fourth Amended Credit Agreement. In addition, the Company may elect an alternate borrowing rate ("ABR") for borrowings under the Global Revolving Credit Facility. ABR borrowings under the Global Revolving Credit Facility will bear interest at the highest interest rate shown in the following table: Applicable Margin U.S. Revolving German Revolving Prime rate —%-0.25% Not applicable Federal funds rate +0.50% —%-0.25% Not applicable Monthly LIBOR (which cannot be less than zero) +1.00% —%-0.25% Not applicable Overnight LIBOR (which cannot be less than zero) Not applicable 1.25%-1.75% The Company is also required to pay a monthly commitment fee on the unused amounts available under the Global Revolving Credit Facility at a per annum rate of 0.25%. If specified excess availability (i.e., aggregate availability, plus any excess of the aggregate borrowing base over the aggregate commitments under the Global Revolving Credit Facility as then in effect, subject to certain limitations) under the Global Revolving Credit Facility is less than the greater of (i) $15 million and (ii) 10% of the aggregate commitments under the Global Revolving Credit Facility as then in effect, the Company is required to comply with a fixed charge coverage ratio (as defined in the Fourth Amended Credit Agreement) of not less than 1.1 to 1.0 for the preceding four-quarter period, tested as of the end of each quarter. Such compliance, once required, would no longer be necessary once (x) specified excess availability under the Global Revolving Credit Facility exceeds the greater of (i) 17.5% of the aggregate commitment for the Global Revolving Credit Facility and (ii) $25 million for 60 consecutive days and (y) no default or event of default has occurred and is continuing during such 60-day period. As of December 31, 2020, specified excess availability under the Global Revolving Credit Facility exceeded the minimum required amount, and the Company is not required to comply with such fixed charge coverage ratio. The Fourth Amended Credit Agreement contains affirmative, reporting and negative covenants, events of default and other terms which the Company believes are ordinary and standard for agreements of this nature, with which the Company and its subsidiaries must comply during the term of the agreement. Among other things, such covenants restrict the ability of the Company and its subsidiaries to incur certain debt, incur or create certain liens, make specified restricted payments, authorize or issue capital stock, enter into transactions with their affiliates, consolidate, merge with or acquire another business, sell certain of their assets, or dissolve or wind up. In addition, if t he specified excess availability under the Global Revolving Credit Facility is less than the greater of (i) $20 million and (ii) 12.5% of the aggregate commitments under the Global Revolving Credit Facility as then in effect, the Company will be subject to increased reporting obligations and controls until such time as availability is more than the greater of (a) $25 million and (b) 17.5% of the aggregate commitments under the Global Revolving Credit Facility as then in effect. Under the terms of the Fourth Amended and Restated Credit Agreement, we are permitted to pay cash dividends on, and repurchase shares of, our common stock without limitation, as long as our specified excess availability under the Fourth Amended and Restated Credit Agreement exceeds the greater of (i) $20 million a nd (ii) 12.5% of our aggregate commitments under the Global Revolving Credit Facilit y (approximately $22 million as of December 31, 2020), on a pro forma basis after giving effect to such dividend or stock repurchase (as the case may be). If our specified excess availability, on a pro forma basis, is less than the applicable threshold, we are subject to certain restrictions on the amount of cash dividends we are permitted to declare and the amount of share repurchases we are permitted to execute . As of December 31, 2020, the Company's availability exceeded the applicable threshold, so this restriction did not apply. The Fourth Amended Credit Agreement also contains events of default customary for financings of this type, including failure to pay principal or interest, materially false representations or warranties, failure to observe covenants and certain other terms of the Fourth Amended Credit Agreement, cross-defaults to certain other indebtedness, bankruptcy, insolvency, various ERISA and foreign pension violations, the occurrence of material judgments and changes in control. Availability under the Global Revolving Credit Facility varies over time depending on the value of the Company's inventory, receivables and (in the case of the German Revolving Credit Facility) various capital assets. As of December 31, 2020, the Company had no borrowings and $0.3 million in letters of credit outstanding under the Global Revolving Credit Facility and $138.6 million of available credit (based on exchanges rates at December 31, 2020). As of December 31, 2020 and 2019, the weighted-average interest rate on outstanding Revolver borrowings was 1.3 percent per annum. Other Debt In January 2013, Neenah Germany entered into a project financing agreement for the construction of a melt blown machine (the "Second German Loan Agreement"). The Second German Loan Agreement provided €9.0 million of construction financing which is secured by the melt blown machine. The loan matures in September 2022 and principal is repaid in equal quarterly installments. The interest rate on amounts outstanding is 2.45% and is payable quarterly. At December 31, 2020, €2.0 million ($2.4 million, based on exchange rates at December 31, 2020) was outstanding under the Second German Loan Agreement. In May 2018, Neenah Germany entered into a project financing agreement for the construction of a regenerative thermal oxidizer ("RTO") (the "Third German Loan Agreement"). The purposes of the project were to increase the capacity of the existing saturators and ensure compliance with new European air emission standards. The Third German Loan Agreement provided €5.0 million of financing and is secured by the asset. The loan matures in September 2022 and principal is repaid in equal quarterly installments. The interest rate on amounts outstanding is 1.45% and is payable quarterly. In the fourth quarter 2018, the Company received a subsidy from the German government of $0.9 million due to completion of the RTO project in the form of a principal reduction. At December 31, 2020, €2.1 million ($2.6 million, based on exchange rates at December 31, 2020) was outstanding under the Third German Loan Agreement. Principal Payments The following table presents the Company's required debt payments: 2021 2022 2023 2024 2025 Thereafter Total Debt payments $ 4.9 $ 4.1 $ 2.0 $ 2.0 $ 2.0 $ 189.0 $ 204.0

Pension and Other Postretiremen

Pension and Other Postretirement Benefits	12 Months Ended
	Dec. 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 also has defined benefit plans and/or alternative retirement plans for substantially all its employees in Germany, the U.K, and the Netherlands. In addition, the Company maintains a SERP which is a non-qualified defined benefit plan. The Company provides benefits under the SERP to the extent necessary to fulfill the intent of its defined benefit retirement plans without regard to the limitations set by the Internal Revenue Code on qualified defined benefit plans. The Company's policy is to recognize settlement losses for deferred vested pension benefit payments regardless of whether the amount exceeded the sum of expected service cost and interest costs of the pension plan for the respective calendar year. During 2020, 2019, and 2018, the Company recorded a $0.3 million, $0.1 million, and a $0.8 million settlement losses in the SERP, for total payments of $1.2 million, $0.5 million, $2.2 million, respectively. The Company's funding policy for its U.S. qualified defined benefit plans and its U.K. defined benefit plan is to contribute assets in compliance with regulatory requirements to fund the projected benefit obligation. There is no legal or governmental obligation to fund Neenah Germany's benefit plans and as such the Neenah Germany defined benefit plans are currently unfunded. As of December 31, 2020, Neenah Germany had investments of $2.5 million that were restricted to the payment of certain post-retirement employee benefits. As of December 31, 2020, $0.7 million and $1.8 million of such investments are classified as Prepaid and other current assets and Other assets, respectively, on the consolidated balance sheet. The Neenah Coldenhove retirement benefit obligations are administered by a third-party insurance company, and funding for these benefits comes from premiums paid. Nonqualified plans providing pension benefits in excess of limitations imposed by taxing authorities are not funded; however, the Company holds $4.3 million of marketable securities that are designated for the payment of benefits under the SERP as of December 31, 2020, classified as Other Assets on the consolidated balance sheet. During the year ended December 31, 2020 and 2019, the Company's funded status of its pension benefits decreased $8.8 million and $2.8 million, respectively, from the prior year, due primarily to lower discount rates partly offset by higher than expected investment returns. 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 Neenah Coldenhove defined benefit pension plan is closed to new entrants, and the defined benefit pension plan was 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 recognized a curtailment gain of $1.6 million in the fourth quarter of 2019 due to these changes. During November 2019, the Company ratified a new collective bargaining agreement with the USW that affected hourly employees at the Appleton Mill. In accordance with the new agreement, effective February 2020, the current defined benefit pension plan at this location will be closed to new entrants, and the defined benefit pension plan will be replaced by a new defined contribution plan. All new hourly employees will participate in the new defined contribution plan, and certain hourly employees (30 of 115 employees at this location) with less than 25 years of service will have their benefit frozen at current levels under the defined benefit plan and will begin participation in the new defined contribution plan. Hourly employees with over 25 years of service will continue to participate in the respective defined benefit plan. There were no curtailment or amendment charges recognized due to this change. During December 2018, the Company signed new collective bargaining agreements with the USW that affected hourly employees at the Munising Mill, Whiting Mill, Neenah Mill, and Neenah Finishing Center. In accordance with the new agreements, effective March 2019, the current defined benefit pension plans at these locations will be closed to new entrants, and the defined benefit pension plans will be replaced by a new defined contribution plan. All new hourly employees will participate in the new defined contribution plan, and certain hourly employees (375 of 690 employees at these locations) with less than 25 years of service will have their benefit frozen at current levels under the defined benefit plan and will begin participation in the new defined contribution plan. Hourly employees with over 25 years of service and certain other hourly employees will continue to participate in their respective defined benefit plans. There were no curtailment or amendment charges recognized due to these changes. The Company uses the fair value of pension plan assets to determine pension expense, rather than averaging gains and losses over a period of years. Investment gains or losses represent the difference between the expected return calculated using the fair value of the assets and the actual return based on the fair value of assets. The Company's pension obligations are measured annually as of December 31. Multi-Employer Plan Historically, the Company has 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. Effective July 1, 2018, the Company and representatives of the United Steelworkers Union (the "USW") of the Lowville mill withdrew from the PIUMPF and 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%. For the year ended December 31, 2018, the Company's contributions to the plan were less than $0.1 million and less than 5% of total plan contributions. On July 1, 2018, when the Company withdrew, the plan was in the red zone. Among other factors, plans in the red zone are generally less than 65% funded. In October 2019, the Company received a billing from PIUMPF for the withdrawal liability, which confirmed the $1.0 million liability, and the Company began making monthly payments. 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, which the Company challenged. During the fourth quarter of 2020, the Company reached a settlement with PIUMPF and paid $1.2 million related to the accumulated funding deficiency. Other Postretirement Benefit Plans The Company maintains postretirement health care and life insurance benefit plans for certain active employees of the Company and former employees of the Canadian pulp operations. The Canadian plans are generally noncontributory for employees who were eligible to retire on or before December 31, 1992 and contributory for most employees who became eligible to retire on or after January 1, 1993. The Company does not provide a subsidized benefit to non-union U.S. employees hired after 2003 or collectively bargained employees after 2005. The Company's obligations for postretirement benefits other than pensions are measured annually as of December 31. The following table reconciles the benefit obligations, plan assets, funded status and net liability information of the Company's pension and other postretirement benefit plans. Pension Benefits Postretirement Year Ended December 31, 2020 2019 2020 2019 Change in Benefit Obligation: Benefit obligation at beginning of year $ 482.4 $ 430.7 $ 39.7 $ 42.4 Service cost 4.6 5.0 1.0 1.2 Interest cost 14.1 16.2 1.0 1.5 Currency 9.7 (1.2) 0.3 0.1 Actuarial (gain) loss 44.6 55.0 2.5 (0.7) Benefit payments from plans (22.3) (21.1) (4.7) (4.8) Plan curtailment (a) — (2.8) — — Settlement payments (1.6) (0.5) — — Other — 1.1 — — Benefit obligation at end of year $ 531.5 $ 482.4 $ 39.8 $ 39.7 Change in Plan Assets: Fair value of plan assets at beginning of year $ 424.1 $ 375.2 $ — $ — Actual gain (loss) on plan assets 51.9 62.1 — — Employer contributions 6.8 8.3 — — Currency 5.5 (0.5) — — Benefit payments (22.3) (21.1) — — Settlement payments (1.6) (0.5) — — Other — 0.6 — — Fair value of plan assets at end of year $ 464.4 $ 424.1 $ — $ — Reconciliation of Funded Status Fair value of plan assets $ 464.4 $ 424.1 $ — $ — Projected benefit obligation 531.5 482.4 39.8 39.7 Net liability recognized in statement of financial position $ (67.1) $ (58.3) $ (39.8) $ (39.7) Amounts recognized in statement of financial position consist of: Current liabilities $ (5.1) $ (1.2) $ (6.0) $ (5.6) Noncurrent liabilities (62.0) (57.1) (33.8) (34.1) Net amount recognized $ (67.1) $ (58.3) $ (39.8) $ (39.7) _______________________ (a) For the year ended December 31, 2019, the Company recognized a curtailment gain of $1.6 million related to the Neenah Coldenhove pension plan. See discussion earlier in this Note. Amounts recognized in accumulated other comprehensive income (loss) consist of: Pension Postretirement December 31, 2020 2019 2020 2019 Accumulated actuarial loss $ 126.8 $ 117.8 $ 8.8 $ 7.2 Prior service cost 0.6 0.9 — — Total recognized in AOCI $ 127.4 $ 118.7 $ 8.8 $ 7.2 Summary disaggregated information about the pension plans follows: December 31, Assets Exceed ABO Exceed Total 2020 2019 2020 2019 2020 2019 Projected benefit obligation $ — $ — $ 531.5 $ 482.4 $ 531.5 $ 482.4 Accumulated benefit obligation — — 527.9 478.3 527.9 478.3 Fair value of plan assets — — 464.4 424.1 464.4 424.1 Components of Net Periodic Benefit Cost Pension Benefits Postretirement Benefits Year Ended December 31, 2020 2019 2018 2020 2019 2018 Service cost $ 4.6 $ 5.0 $ 6.7 $ 1.0 $ 1.2 $ 1.1 Interest cost 14.1 16.2 15.8 1.0 1.5 1.4 Expected return on plan assets (a) (20.7) (21.1) (21.0) — — — Recognized net actuarial loss 5.4 4.9 5.2 0.9 0.9 0.8 Amortization of prior service cost (credit) 0.3 0.2 0.2 — — (0.2) Curtailment gain — (1.6) — — — — Amount of settlement loss recognized 0.3 0.1 0.8 — — — Net periodic benefit cost $ 4.0 $ 3.7 $ 7.7 $ 2.9 $ 3.6 $ 3.1 _______________________ (a) The expected return on plan assets, excluding the Neenah Coldenhove 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 Neenah Coldenhove 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. Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income (Loss) Pension Benefits Postretirement Benefits Year Ended December 31, 2020 2019 2018 2020 2019 2018 Net periodic benefit expense $ 4.0 $ 3.7 $ 7.7 $ 2.9 $ 3.6 $ 3.1 Accumulated actuarial gain (loss) 9.0 7.7 4.2 1.6 (1.5) 0.1 Prior service cost (credit) (0.3) 0.2 (0.1) — — 0.2 Total recognized in other comprehensive income (loss) 8.7 7.9 4.1 1.6 (1.5) 0.3 Total recognized in net periodic benefit cost and other comprehensive income (loss) $ 12.7 $ 11.6 $ 11.8 $ 4.5 $ 2.1 $ 3.4 Weighted-Average Assumptions Used to Determine Benefit Obligations at December 31 Pension Postretirement 2020 2019 2020 2019 Discount rate 2.28 % 2.98 % 1.67 % 2.68 % Rate of compensation increase 1.54 % 2.05 % — % — % Initial healthcare cost trend rate — % — % 5.25 % 6.10 % Ultimate healthcare cost trend rate — % — % 4.00 % 4.50 % Ultimate year — — 2045 2037 Weighted-Average Assumptions Used to Determine Net Periodic Benefit Cost for Years Ended December 31 Pension Benefits Postretirement Year Ended December 31, 2020 2019 2018 2020 2019 2018 Discount rate 2.98 % 3.78 % 3.65 % 2.68 % 3.84 % 3.42 % Expected long-term return on plan assets (a) 5.42 % 5.91 % 5.78 % — % — % — % Rate of compensation increase 2.05 % 2.33 % 2.44 % 2.50 % 2.50 % 2.50 % Initial healthcare cost trend rate — % — % — % 6.10 % 6.50 % 6.80 % Ultimate healthcare cost trend rate — % — % — % 4.50 % 4.50 % 4.50 % Ultimate year — — — 2037 2037 2037 _______________________ (a) The expected long-term return on plan assets does not include the Neenah Coldenhove plan assets. The Neenah Coldenhove 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. Expected Long-Term Rate of Return and Investment Strategies The expected long-term rate of return on pension fund assets held by the Company's pension trusts was determined based on several factors, including input from pension investment consultants and projected long-term returns of broad equity and bond indices. Also considered were the plans' historical compounded annual returns. It is anticipated that, on average, the managed pension plan assets will generate a return of 5 to 6 percent. The expected long-term rate of return on the assets in the plans was based on an asset allocation assumption of approximately 33 percent with equity managers, with expected long-term rates of return of approximately 8 to 10 percent, 8 percent with hedge funds/other, with expected long-term rates of return of approximately 5 to 7 percent, and 59 percent with fixed income managers, with an expected long-term rate of return of about 3 to 5 percent. The actual asset allocation is regularly reviewed and periodically rebalanced to the targeted allocation when considered appropriate. Plan Assets Pension plan asset allocations are as follows: Percentage of Plan 2020 2019 Asset Category (a) Equity securities 36 % 33 % Hedge fund / Other 8 % 8 % Debt securities / Fixed Income 56 % 59 % Cash and money-market funds — % — % Total 100 % 100 % _______________________ (a) The asset categories do not include the insurance contract related to the Neenah Coldenhove pension plan. The Company's investment objective for pension plan assets is to ensure, over the long-term life of the pension plans, an adequate pool of assets to support the benefit obligations to participants, retirees, and beneficiaries. Specifically, these objectives include the desire to: (a) invest assets in a manner such that future assets are available to fund liabilities, (b) maintain liquidity sufficient to pay current benefits when due and (c) diversify, over time, among asset classes so assets earn a reasonable return with acceptable risk to capital. The weighted average target investment allocation and permissible allocation range for plan assets by category are as follows: Strategic Target Permitted Range Asset Category Equity securities 33 % 28%-38% Hedge fund / Other 8 % 3%-13% Debt securities / Fixed Income 59 % 54%-64% As of December 31, 2020, no company or group of companies in a single industry represented more than 5 percent of plan assets. The Company's investment assumptions are established by an investment committee composed of members of senior management and are validated periodically against actual investment returns. As of December 31, 2020, the Company's investment assumptions are as follows: (1) The plan should be substantially fully invested in debt and equity securities at all times because substantial cash holdings will reduce long-term rates of return; (2) Equity investments will provide greater long-term returns than fixed income investments, although with greater short-term volatility; (3) It is prudent to diversify plan investments across major asset classes; (4) Allocating a portion of plan assets to foreign equities will increase portfolio diversification, decrease portfolio risk and provide the potential for long-term returns; (5) Investment managers with active mandates can reduce portfolio risk below market risk and potentially add value through security selection strategies, and a portion of plan assets should be allocated to such active mandates; (6) A component of passive, indexed management can benefit the plans through greater diversification and lower cost, and a portion of the plan assets should be allocated to such passive mandates, and (7) It is appropriate to retain more than one investment manager, given the size of the plans, provided that such managers offer asset class or style diversification. For the years ended December 31, 2020, 2019 and 2018, no plan assets were invested in the Company's securities. Cash Flows At December 31, 2020, 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 in 2021 of approximately $12 million (based on exchange rates at December 31, 2020). Future Benefit Payments The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid: Pension Plans Postretirement Benefits 2021 $ 26.8 $ 6.0 2022 23.8 4.8 2023 24.6 4.5 2024 25.5 4.1 2025 25.7 3.7 Years 2026-2030 131.7 12.3 Defined Contribution Retirement Plans Company contributions to defined contribution retirement plans are based on various factors for covered employees. Contributions to these plans, all of which were charged to expense, were $1.8 million in 2020, $2.0 million in 2019 and $2.3 million in 2018. In addition, the Company maintains a supplemental retirement contribution plan (the "SRCP") which is a non-qualified, unfunded defined contribution plan. The Company provides benefits under the SRCP to the extent necessary to fulfill the intent of its defined contribution retirement plans without regard to the limitations set by the Internal Revenue Code on qualified defined contribution plans. For the years ended December 31, 2020, 2019 and 2018, the Company recognized expense related to the SRCP of $0.4 million, $0.4 million and $0.0 million, respectively. At December 31, 2020 and December 31, 2019, the unfunded obligation of the SRCP was $2.0 million and $1.7 million, respectively. Investment Plans The Company provides voluntary contribution investment plans to substantially all North American employees. Under the plans, the Company matches a portion of employee contributions. For the years ended December 31, 2020, 2019 and 2018, costs charged to expense for Company matching contributions under these plans were $4.6 million, $4.7 million and $4.0 million, respectively.

Stock Compensation Plans

Stock Compensation Plans	12 Months Ended
	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Stock Compensation Plans	Stock Compensation Plans The Company established the 2004 Omnibus Stock and Incentive Plan (the "2004 Omnibus Plan") in December 2004 and reserved 3,500,000 shares of $0.01 par value common stock ("Common Stock") for issuance under the Omnibus Plan. Pursuant to the terms of the 2004 Omnibus Plan, the compensation committee of the Company's Board of Directors may grant various types of equity-based compensation awards, including incentive and nonqualified stock options, SARs, restricted stock, RSUs, Performance Units, in addition to certain cash-based awards. All grants under the Omnibus Plan will be made at fair market value and no grant may be repriced. In general, the options expire 10 years from the date of grant and vest over a 3-year service period. At the 2018 Annual Meeting of Stockholders, the Company's stockholders approved an amendment and restatement of the 2004 Omnibus Plan (as amended and restated the "2018 Omnibus Plan"). The amendment and restatement authorized the Company to reserve an additional 800,000 shares of Common Stock for future issuance. As of December 31, 2020, the Company had 879,000 shares of Common Stock reserved for future issuance under the 2018 Omnibus Plan. As of December 31, 2020, the number of shares available for future issuance was reduced by approximately 53,610 shares for outstanding SARs where the closing market price for the Company's common stock was greater than the exercise price of the SAR. The Company accounts for stock-based compensation pursuant to the fair value recognition provisions of ASC Topic 718, Compensation — Stock Compensation ("ASC Topic 718"). Valuation and Expense Information Under ASC Topic 718 Substantially all stock-based compensation expense has been recorded in Selling, general and administrative expenses on the consolidated statements of operations. The following table summarizes stock-based compensation costs and related income tax benefits. Year Ended December 31, 2020 2019 2018 Stock-based compensation expense $ 4.2 $ 5.6 $ 4.0 Income tax benefit (1.1) (1.4) (1.0) Stock-based compensation, net of income tax benefit $ 3.1 $ 4.2 $ 3.0 The following table summarizes total compensation costs related to the Company's equity awards and amounts recognized in the year ended December 31, 2020. Stock Options Performance Unrecognized compensation cost — December 31, 2019 $ 0.2 $ 2.4 Grant date fair value current year grants — 7.4 Shares forfeited — (1.8) Compensation expense recognized (0.2) (4.1) Unrecognized compensation cost — December 31, 2020 $ — $ 3.9 Expected amortization period (in years) 0.6 1.8 Stock Options/SARs The Company grants nonqualified stock options to certain non-U.S. employees and Stock Appreciation Rights (SARs, and collectively 'stock options') to certain U.S. employees. Upon exercise, the holder of a SAR receives common shares equal to the number of SARs exercised multiplied by a fraction where the numerator is equal to the market price at the time of exercise minus the exercise price of the SAR and the denominator is equal to the market price at the time of exercise. The SARs can only be settled for shares of Common Stock and the Company does not receive any cash proceeds upon exercise. The following tables present information regarding stock options awarded during the years ended December 31, 2019 and 2018. There were no stock options awarded during the year ended December 31, 2020. 2019 2018 Stock options granted 1,272 108,420 Per share weighted-average exercise price $ 66.59 $ 93.22 Per share weighted-average grant date fair value $ 10.32 $ 15.00 The weighted-average grant date fair value for stock options granted for the years ended December 31, 2019 and 2018 was estimated using the Black-Scholes option valuation model with the following assumptions: 2019 2018 Expected term in years 5.0 5.7 Risk free interest rate 1.8 % 2.5 % Volatility 23.1 % 21.5 % Dividend yield 3.0 % 3.0 % Expected volatility and the expected term were estimated by reference to the historical stock price performance of the Company and historical data for the Company's stock option awards, respectively. The risk-free interest rate was based on the yield on U.S. Treasury bonds with a remaining term approximately equal to the expected term of the stock option awards. Forfeitures were estimated at the date of grant. The following table summarizes stock option activity under the Omnibus Plan for the year ended December 31, 2020: Number of Weighted-Average Options outstanding — December 31, 2019 416,548 $ 70.08 Add: Options granted — $ — Less: Options exercised 13,434 $ 32.89 Less: Options forfeited/cancelled 22,270 $ 80.49 Options outstanding — December 31, 2020 380,844 $ 70.99 The status of outstanding and exercisable stock options as of December 31, 2020, summarized by exercise price follows: Options Vested or Expected to Vest Options Exercisable Exercise Price Number of Weighted- Weighted- Aggregate Number of Weighted- Aggregate $19.25 — $31.23 31,884 1.6 $ 27.86 $ 0.9 31,884 $ 27.86 $ 0.9 $42.82 — $64.23 132,516 4.4 $ 55.70 0.3 131,386 $ 55.81 0.3 $66.59 — $93.35 216,444 6.5 $ 86.70 — 199,381 $ 86.29 — 380,844 5.4 $ 70.99 $ 1.2 362,651 $ 70.11 $ 1.2 _______________________ (a) Represents the total pre-tax intrinsic value as of December 31, 2020 that option holders would have received had they exercised their options as of such date. The pre-tax intrinsic value is based on the closing market price for the Company's common stock of $55.32 on December 31, 2020. The aggregate pre-tax intrinsic value of stock options exercised for the years ended December 31, 2020, 2019 and 2018 was $0.3 million, $1.2 million and $5.2 million, respectively. The following table summarizes the status of the Company's unvested stock options as of December 31, 2020 and activity for the year then ended: Number of Weighted-Average Outstanding — December 31, 2019 98,519 $ 14.41 Add: Options granted — $ — Less: Options vested 77,961 $ 14.30 Less: Options forfeited 2,365 $ 15.03 Outstanding — December 31, 2020 18,193 $ 14.48 As of December 31, 2020, certain participants met age and service requirements that allowed their options to qualify for accelerated vesting upon retirement. As of December 31, 2020, there were approximately 8,439 stock options subject to accelerated vesting that such participants would have been eligible to exercise if they had retired as of such date. The aggregate grant date fair value of options subject to accelerated vesting was $0.1 million. For the year ended December 31, 2020, stock-based compensation expense for such options was less than $0.1 million. For the year ended December 31, 2020, the aggregate grant date fair value of options vested, including options subject to accelerated vesting, was $1.1 million. Stock options that reflect accelerated vesting for expense recognition become exercisable according to the contract terms of the stock option grant. PSUs/RSUs For the year ended December 31, 2020, the Company granted target awards of 44,206 PSUs. The measurement period for the PSUs is January 1, 2020 through December 31, 2022. Common Stock equal to not more than 200 percent of the PSUs target will be awarded based on the Company’s return on invested capital, consolidated revenue growth, free cash flow 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 are adjusted for certain items as further described in the Performance Share Unit Award Agreement. As of December 31, 2020, the Company expects that Common Stock equal to approximately 100 percent of the PSU targets will be earned. The market price on the date of grant for the PSUs was $63.07 per share. At the end of the measurement period, the PSUs convert into shares of Common Stock, at the determined rate mentioned above. The Company is recognizing stock-based compensation expense pro-rata over the vesting term of the PSUs/RSUs. For further discussion on participating securities refer to Note 3, "Earnings Per Share". For the year ended December 31, 2020, the Company awarded 14,184 RSUs to non-employee members of the Board of Directors and 86,234 RSUs to employees. The weighted-average grant date fair value of such awards was $56.39 per share and the awards vest one year from the date of grant for the Board of Directors grants and in equal amounts at December 31, 2020, 2021 and 2022 for the employee grants. During the vesting period, the holders of the RSUs are entitled to dividends, but the RSUs do not have voting rights and are forfeited in the event the holder is no longer an employee or member of the Board of Directors on the vesting date as further described in the Restricted Stock Unit Award Agreement. The following table summarizes the activity of the Company's unvested stock-based awards (other than stock options) for the years ended December 31, 2020, 2019 and 2018: RSUs Weighted-Average PSUs Weighted-Average Outstanding — December 31, 2017 88,799 $ 53.33 41,377 $ 81.85 Shares granted (a) 10,618 $ 82.29 40,747 $ 93.21 Shares vested (72,190) $ 60.24 — $ — Performance Shares vested 33,928 $ 88.40 (31,421) $ 81.85 Shares expired or cancelled (7,695) $ 84.45 (3,482) $ 84.45 Outstanding — December 31, 2018 53,460 $ 67.53 47,221 $ 93.21 Shares granted (a) 46,556 $ 67.04 49,730 $ 69.05 Shares vested (63,595) $ 72.91 — $ — Performance Shares vested 10,354 $ 93.21 (25,833) $ 93.21 Shares expired or cancelled (2,113) $ 69.35 (4,927) $ 85.67 Outstanding — December 31, 2019 44,662 $ 65.23 66,191 $ 75.62 Shares granted (a) 100,418 $ 56.39 44,206 $ 63.07 Shares vested (61,767) $ 68.28 — $ — Performance Shares vested 21,101 $ 69.22 (37,804) $ 75.60 Shares expired or cancelled (22,210) $ 64.16 (18,545) $ 83.30 Outstanding — December 31, 2020 (b) 82,204 $ 53.45 54,048 $ 62.73 _______________________ (a) For the years ended December 31, 2020, 2019 and 2018, includes 72 RSUs, 43 RSUs and 132 RSUs, respectively, that were granted in lieu of cash dividends. Such dividends-in-kind vest concurrently with the underlying RSUs. (b) The aggregate pre-tax intrinsic value of outstanding RSUs as of December 31, 2020 was $4.5 million. The aggregate pre-tax intrinsic value of restricted stock and RSUs that vested for the years ended December 31, 2020, 2019 and 2018 was $3.4 million, $4.2 million and $4.4 million, respectively. Excess Tax Benefits Excess tax benefits represent the difference between the tax deduction the Company will receive on its tax return for compensation recognized by employees upon the vesting or exercise of stock-based awards and the tax benefit recognized for the grant date fair value of such awards. For the years ended December 31, 2020, 2019 and 2018, the Company recognized excess tax benefits (deficit) related to the exercise or vesting of stock-based awards of $(0.4) million, $0.1 million and $1.2 million, respectively.

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2020
Stockholders' Equity Note [Abstract]
Stockholders' Equity	Stockholders' Equity Common Stock The Company has authorized 100 million shares of Common Stock. Holders of the Company's Common Stock are entitled to one vote per share. In November 2020, the Company's Board of Directors authorized a program, effective January 1, 2021, that would allow the Company to repurchase up to $25 million of its outstanding Common Stock over the next 12 months (the "Stock Purchase Plan"). Purchases by the Company under the Stock Purchase Plan would 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 Stock Purchase Plan does not require the Company to purchase any specific number of shares and may be suspended or discontinued at any time. The Stock Purchase Plan is expected to be funded using cash on hand or borrowings under the Company's bank credit facility. The Company also had $25 million repurchase programs in place during the preceding two years that expired in December 2020 (the “2020 Stock Purchase Plan”) and December 2019 (the “2019 Stock Purchase Plan”), respectively. The following table shows shares purchased under the respective stock purchase plans: Year Ended December 31, 2020 2019 2018 Shares $ Shares $ Shares $ 2020 Stock Purchase Plan 59,577 $ 3.6 2019 Stock Purchase Plan 79,676 $ 4.9 2018 Stock Purchase Plan 124,434 $ 9.3 As of December 31, 2020, under the terms of the Fourth Amended and Restated Credit Agreement and the 2021 Senior Notes, the Company has limitations on its ability to repurchase shares of its Common Stock, as further discussed in Note 6, "Debt." For the years ended December 31, 2020, 2019 and 2018, the Company acquired 22,064 shares, 17,774 shares and 25,890 shares of Common Stock, respectively, at a cost of $1.2 million, $1.3 million and $1.5 million, respectively, for shares surrendered by employees to pay taxes due on vested restricted stock awards and SARs exercised. Preferred Stock The Company has authorized 20 million shares of $0.01 par value preferred stock. The preferred stock may be issued in one or more series and with such designations and preferences for each series as shall be stated in the resolutions providing for the designation and issue of each such series adopted by the Board of Directors of the Company. The Board of Directors is authorized by the Company's articles of incorporation to determine the voting, dividend, redemption and liquidation preferences pertaining to each such series. No shares of preferred stock have been issued by the Company. Other Comprehensive Income (Loss) Comprehensive income (loss) includes, in addition to net income (loss), gains and losses recorded directly into stockholders' equity on the consolidated balance sheet. These gains and losses are referred to as other comprehensive income (loss) ("OCI") items. AOCI consists of foreign currency translation gains and (losses), adjustments related to pensions and other post-retirement benefits, and, prior to 2018, deferred gains and (losses) on "available-for-sale" securities. The Company does not provide income taxes for foreign currency translation adjustments related to indefinite investments in foreign subsidiaries. The components of accumulated other comprehensive income (loss), net of applicable income taxes are as follows: December 31, 2020 2019 Net loss from pension and other postretirement benefit liabilities, net of income tax benefits of $34.2 million and $31.6 million, respectively $ (102.0) $ (94.3) Unrealized foreign currency translation losses, net of income tax benefit (expense) of $(0.4) million and $0.3 million, respectively (1.7) (19.0) AOCI $ (103.7) $ (113.3) The following table presents changes in accumulated other comprehensive income (loss): Year Ended December 31, 2020 2019 2018 Pretax Tax Net Pretax Tax Net Pretax Tax Net Unrealized foreign currency translation gains (losses) $ 18.0 $ (0.7) $ 17.3 $ (3.5) $ — $ (3.5) $ (7.9) $ (0.1) $ (8.0) Adjustment to pension and other benefit liabilities (a) (10.3) 2.6 (7.7) (6.4) 1.7 (4.7) (4.4) 1.1 (3.3) Other comprehensive income (loss) $ 7.7 $ 1.9 $ 9.6 $ (9.9) $ 1.7 $ (8.2) $ (12.3) $ 1.0 $ (11.3) For the years ended December 31, 2020, 2019 and 2018, the Company reclassified $6.6 million, $6.0 million and $6.0 million, respectively, of costs from AOCI to Other expense, net on the consolidated statements of operations. For the years ended December 31, 2020, 2019 and 2018, the Company recognized an income tax benefit of $1.7 million, $1.5 million and $1.5 million, respectively, related to such reclassifications classified as Provision for income taxes on the consolidated statements of operations. For the year ended December 31, 2020, 2019 and 2018, the Company reclassified costs of $0.3 million, $1.3 million, and $0.8 million, respectively, from AOCI to the pension and SERP plan related adjustments on the Consolidated Statements of Operations. For the years ended December 31, 2020, 2019 and 2018, the Company recognized an income tax benefit of $0.1 million, $0.3 million, and $0.2 million, respectively, related to such reclassifications classified as provision for income taxes on the Consolidated Statements of Operations.

Leases

Leases	12 Months Ended
	Dec. 31, 2020
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 million and lease liabilities of $17 million 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 ten 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 Consolidated Balance Sheets. As of December 31, 2020 and 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: Year Ended December 31, 2020 2019 Operating lease cost $ 4.0 $ 3.1 Short-term lease cost $ 1.3 $ 1.5 Variable lease cost (a) $ 1.2 $ 2.1 _______________________ (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 years ended December 31, 2020 and 2019, the Company paid $4.0 million and $3.1 million, respectively, for amounts included in the measurement of operating lease liabilities. For the years ended December 31, 2020 and 2019, new ROU assets of $9.3 million and $0.4 million, respectively, were obtained in exchange for operating lease liabilities. As of December 31, 2020, the weighted average remaining lease term and weighted average discount rate for operating leases were 7.6 years and 4.5%, respectively. Maturities of lease liabilities were as follows: Year Ending December 31, Operating Leases 2021 $ 4.1 2022 3.8 2023 3.4 2024 2.9 2025 2.5 Thereafter 9.4 Total lease payments 26.1 Less: Imputed interest 4.5 Total lease liabilities $ 21.6 Under the previous accounting standard, ASC Topic 840, Leases , the rent expense under operating leases for the year ended December 31, 2018 rent was $7.2 million.

Commitments, Contingencies, and

Commitments, Contingencies, and Legal Matters	12 Months Ended
	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments, Contingencies, and Legal Matters	Commitments, 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 liquidity of the Company. Income Taxes The Company periodically undergoes examination by the Internal Revenue Service (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. Environmental, Health and Safety Matters The Company is subject to federal, state and local laws, regulations and ordinances relating to various environmental, health and safety matters. The Company is in compliance with, or is taking actions designed to ensure compliance with, these laws, regulations and ordinances. However, the nature of the Company's business exposes it to the risk of claims with respect to environmental, health and safety matters, and there can be no assurance that material costs or liabilities will not be incurred in connection with such claims. Except for certain orders issued by environmental, health and safety regulatory agencies, with which management believes the Company is in compliance and which management believes are immaterial to the results of operations of the Company's business, Neenah is not currently named as a party in any judicial or administrative proceeding relating to environmental, health and safety matters. While the Company has incurred in the past several years, and will continue to incur, capital and operating expenditures in order to comply with environmental, health and safety laws, regulations and ordinances, management believes that the Company's future cost of compliance with environmental, health and safety laws, regulations and ordinances, and its exposure to liability for environmental, health and safety claims will not have a material effect on its financial condition, results of operations or liquidity. However, future events, such as changes in existing laws and regulations or contamination of sites owned, operated or used for waste disposal by the Company (including currently unknown contamination and contamination caused by prior owners and operators of such sites or other waste generators) may give rise to additional costs which could have a material effect on the Company's financial condition, results of operations or liquidity. The Company incurs capital expenditures necessary to meet legal requirements and otherwise relating to the protection of the environment at its facilities in the United States and internationally. The Company's anticipated capital expenditures for environmental projects are not expected to have a material effect on the Company's financial condition, results of operations or liquidity. Employees and Labor Relations As of December 31, 2020, the Company had approximately 2,239 regular full-time employees of whom 906 hourly and 476 salaried employees were located in the United States and 509 hourly and 348 salaried employees were located in Europe. All of the Company's U.S. hourly union employees are represented by the United Steelworkers Union (the "USW"). Certain 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"). Under German law 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 cannot be determined. In Netherlands, most of our employees are eligible to be represented by the Christelijke Nationale Vakbond ("CNV") and the Federatie Nederlandse Vakvereniging ("FNV"). Under Netherlands law, union membership is voluntary and does not need to be disclosed to the Company. The collective bargaining arrangement with CNV and FNV will expire in April 2021. Hourly union employees at the Company's Bolton, England manufacturing facility are represented by Unite the Union ("UNITE"). As of December 31, 2020, 85 employees are covered under collective bargaining agreements that will expire in the next 12 months, not including the employees covered by the collective bargaining arrangements with the CNV and FNV. The following table shows the status of the Company's bargaining agreements as of December 31, 2020. Contract Expiration Date Location Union Number of Employees April 2021 Eerbeek, Netherlands CNV, FNV (a) November 2021 Lowville, NY USW 85 January 2022 Whiting, WI USW 197 May 2022 Appleton, WI USW 82 June 2022 Neenah, WI USW 183 July 2022 Munising, MI USW 173 September 2022 Weidach and Bruckmühl, Germany IG BCE (a) _______________________ (a) Under Germany and Netherlands 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. Purchase Commitments The Company has certain minimum purchase commitments that extend beyond December 31, 2020. Commitments under these contracts are approximately $1.5 million, $0.8 million, $0.2 million, and $0.2 million for the years ended December 31, 2021, 2022, 2023, and 2024 respectively. Such purchase commitments for the year ended December 31, 2021 are primarily for utilities and information technology contracts. Although the Company is primarily liable for payments on the above-mentioned purchase commitments, management believes exposure to losses, if any, under these arrangements is not material.

Asset Restructuring and Impairm

Asset Restructuring and Impairment Costs	12 Months Ended
	Dec. 31, 2020
Restructuring and Related Activities [Abstract]
Asset Restructuring and Impairment Costs	Asset Restructuring and Impairment Costs In 2020, the Company recorded non-cash asset restructuring and impairment losses, and associated severance costs, totaling $57.8 million. During the three months ended June 30, 2020, due to the adverse impacts of COVID-19, the Company recorded restructuring and impairment costs of $55.3 million, of which $52.3 million related to a non-cash impairment loss for long-lived assets used primarily in the Technical Products segment. The other charge of $3.0 million arose from accelerated depreciation due to the idling of assets and related employee termination benefits for a workforce reduction in the Fine Paper and Packaging segment. The pandemic triggered the evaluation of the carrying values of long-lived assets in the Technical Products segment, with the largest impact resulting from changes in the duration of the ramp-up of net sales of the Company's U.S. transportation filtration asset. As a result of the change in forecast of net sales and profitability, the Company determined that indicators of impairment in the carrying value of the property, plant and equipment were present at June 30, 2020. Accordingly, based on the applicable accounting guidance, the Company tested the recoverability of those long-lived assets using undiscounted estimates of the future cash flows from the use of those assets. The recoverability tests indicated that the long-lived assets were impaired at June 30, 2020. As a result, the Company determined the fair value of the long-lived assets principally on a probability-weighting of the discounted cash flows expected under multiple operating scenarios, based in part on the Company's current and future evaluation of economic conditions, as well as current and future plans. The Company used a credit-adjusted risk-free rate of 9.5% based on the expected rate of return from the highest and best use of similar assets by a market participant. An impairment charge of $51.0 million was recorded in the Technical Products segment to reduce the carrying value of the assets to their indicated fair values. These fair value calculations are highly subjective and require management to make assumptions and apply judgments to estimates regarding the timing and amount of future cash flows, probabilities related to various cash flow scenarios, and appropriate discount rates based on the perceived risks, among others. While the Company believes its assumptions and judgments about future cash flows are reasonable, future impairment charges may be required if the expected cash flow estimates do not occur or if events change requiring the Company to significantly revise its estimates. Long-lived assets are measured at fair value on a nonrecurring basis using Level 3 inputs. The Company also tested its indefinite-lived intangible assets (brand names) for impairment using the applicable accounting guidance and as a result recorded an impairment loss of $0.9 million and $0.4 million in the Fine Paper and Packaging and Technical Products segments, respectively. The Company performed a quantitative analyses of goodwill and other indefinite-lived intangibles, noting that there was no impairment as of November 30, 2020. During the three months ended June 30, 2020, the adverse impacts of COVID-19 led to additional actions taken to consolidate the Company's operational footprint with the idling of a fine paper machine and other smaller assets and reallocating their volume, optimizing and eliminating certain product brands and SKUs and restructuring parts of its workforce. During the three months ended June 30, 2020, the Company recorded accelerated depreciation of $2.6 million related to the idling of the manufacturing assets and $0.4 million of employee termination benefit costs. During the three months ended December 31, 2020, the Company fully impaired its $2.5 million joint venture investment in India with AIM Filtertech and is in the process of exiting this investment. In 2019, the Company recorded $4.7 million of accelerated depreciation and spare parts inventory reserves related to an idled paper machine in the Fine Paper and Packaging segment. In 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. Following the review, the Company initiated a process to sell the Brattleboro mill, its business operations and associated research and office facilities. 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 recorded an impairment loss of $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. A summary of the asset restructuring and impairment costs incurred during the years ended December 31, 2020, 2019, and 2018 is as follows: For the Year Ended December 31, 2020 2019 2018 Impairment losses $ 54.8 $ — $ 31.1 Restructuring charges from idled assets 2.6 4.7 — Severance costs 0.4 — — Total $ 57.8 $ 4.7 $ 31.1

Business Segment and Geographic

Business Segment and Geographic Information	12 Months Ended
	Dec. 31, 2020
Segment Reporting [Abstract]
Business Segment and Geographic Information	Business Segment and Geographic Information The Company's reportable operating segments consist of Technical Products, Fine Paper and Packaging and, in 2018 only, Other. 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 transfer papers, 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: Year Ended December 31, 2020 2019 2018 Filtration 46 % 42 % 40 % Performance Materials 54 % 58 % 60 % Total 100 % 100 % 100 % 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 $15.6 million of net sales for the year ended December 31, 2018, 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 2018 depreciation and amortization and capital expenditures by segment and presented $0.7 million of depreciation and amortization, and $0.0 million of capital expenditures of this remaining portion of the Other business segment within the Technical Products business segment. The Company presented the net sales for the years ended December 31, 2018 of the remaining portion of the Other business segment into Performance Materials products category in the table above. The fine paper and packaging business is a leading supplier of premium printing and other high-end specialty papers ("Graphic Imaging") and premium packaging ("Packaging") and specialty office papers ("Filing/Office") primarily in North America. The following table presents sales by product category for the fine paper and packaging business: Year Ended December 31, 2020 2019 2018 Graphic Imaging 74 % 79 % 78 % Packaging 26 % 21 % 18 % Filing/Office — % — % 4 % Total 100 % 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 accounting policies of the reportable operating segments are the same as those described in Note 2, "Summary of Significant Accounting Policies." Business Segments Year Ended December 31, 2020 2019 2018 Net sales Technical Products $ 508.9 $ 541.6 $ 583.2 Fine Paper and Packaging 283.7 396.9 445.8 Other — — 5.9 Consolidated $ 792.6 $ 938.5 $ 1,034.9 Year Ended December 31, 2020 2019 2018 Operating income (loss) Technical Products (a) $ (4.8) $ 44.6 $ 50.9 Fine Paper and Packaging (b) 23.3 53.2 29.4 Other (c) — — (6.4) Unallocated corporate costs (d) (24.6) (19.5) (19.8) Consolidated $ (6.1) $ 78.3 $ 54.1 _______________________ (a) Operating income for the year ended December 31, 2020 included impairment costs of $54.1 million, other restructuring and non-routine costs of $0.7 million, COVID-19 costs of $1.4 million, and pension settlements of $0.8 million. Operating income for the year ended December 31, 2019 included restructuring and other non-routine costs of $0.3 million and a curtailment gain of $1.5 million related to the Neenah Coldenhove pension plan. Operating income for the year ended December 31, 2018 included non-cash impairment loss, restructuring and integration costs, and pension settlement charges of $2.5 million, offset by favorable acquisition adjustments of $3.9 million. (b) Operating income for the year ended December 31, 2020 included asset restructuring costs of $3.7 million, other restructuring and non-routine costs of $2.2 million, COVID-19 costs of $1.5 million, and pension settlements of $0.4 million. Operating income for the year ended December 31, 2019 included $5.7 million of non-routine costs, primarily related to idled paper machine costs due to the consolidation of the fine paper manufacturing footprint. Operating income for the year ended December 31, 2018 included non-cash impairment loss, restructuring costs, and pension settlement charges of $24.6 million, offset by favorable insurance settlement of $0.3 million. (c) Operating income for the year ended December 31, 2018 included non-cash impairment loss, restructuring costs, and a pension settlement charge of $6.0 million, offset by favorable insurance settlement of $0.1 million. (d) Unallocated corporate costs for the year ended December 31, 2020 included $5.6 million of one-time costs related to restructuring, loss on debt extinguishment, acquisition, SERP settlements and other non-routine charges. Unallocated corporate costs for the year ended December 31, 2019 included costs of $0.3 million, consisting of restructuring and other non-routine costs and a SERP settlement charge. Unallocated corporate costs for the year ended December 31, 2018 included restructuring costs and pension settlement charge of $1.9 million. Year Ended December 31, 2020 2019 2018 Depreciation and amortization Technical Products $ 23.7 $ 24.1 $ 24.4 Fine Paper and Packaging 10.8 13.2 9.9 Other — — 0.2 Corporate 2.2 1.6 1.6 Consolidated $ 36.7 $ 38.9 $ 36.1 Year Ended December 31, 2020 2019 2018 Capital expenditures Technical Products $ 13.4 $ 13.1 $ 28.0 Fine Paper and Packaging 4.6 7.7 8.7 Corporate 0.8 0.6 1.4 Consolidated $ 18.8 $ 21.4 $ 38.1 December 31, 2020 2019 Total Assets (a) Technical Products $ 552.0 $ 573.8 Fine Paper and Packaging 192.4 217.7 Corporate and other (b) 62.2 36.3 Total $ 806.6 $ 827.8 _______________________ (a) Segment identifiable assets are those that are directly used in the segments operations. (b) Corporate assets are primarily deferred income taxes, lease ROU assets, and cash. Geographic Information Year Ended December 31, 2020 2019 2018 Net sales United States $ 533.1 $ 673.0 $ 744.4 Germany 203.9 196.3 216.5 Rest of Europe 55.6 69.2 74.0 Consolidated $ 792.6 $ 938.5 $ 1,034.9 Net sales are attributed to geographic areas based on the physical location of the selling entities. December 31, 2020 2019 Long-Lived Assets United States $ 314.4 $ 364.2 Germany 160.8 153.3 Rest of Europe 60.1 57.6 Total $ 535.3 $ 575.1 Long-lived assets consist of property and equipment, lease ROU assets, deferred income taxes, goodwill, intangibles and other assets. Concentrations For the years ended December 31, 2020 and 2019, sales to the technical products business' largest customer represented approximately 9 percent and 8 percent of consolidated net sales, respectively, and approximately 15 percent and 14 percent of net sales for the technical products segment, respectively. For the year ended December 31, 2018, there were no customers sales to which constituted over 10 percent of segment net sales for technical products. For the years ended December 31, 2020 and 2019, sales to the largest customer of fine paper and packaging business represented approximately 6 percent and 8 percent of consolidated net sales, respectively, and approximately 18 percent of net sales of the fine paper and packaging business for each of the years. For the year ended December 31, 2018, sales to the two largest customers of fine paper and packaging business represented approximately 7 percent and 5 percent, respectively, of consolidated net sales and approximately 16 percent and 12 percent, respectively, of net sales of the fine paper and packaging business. Except for certain specialty latex grades and specialty softwood pulp used by Technical Products, management is not aware of any significant concentration of business transacted with a particular supplier that could, if suddenly eliminated, have a material effect on its operations.

Supplemental Data

Supplemental Data	12 Months Ended
	Dec. 31, 2020
Balance Sheet Related Disclosures [Abstract]
Supplemental Data	Supplemental Data Supplemental Statement of Operations Data Summary of Advertising and Research and Development Expenses Year Ended December 31, 2020 2019 2018 Advertising expense (a) $ 3.0 $ 4.9 $ 4.7 Research and development expense (a) 7.6 8.7 9.2 _______________________ (a) Advertising expense and research and development expense are recorded in Selling, general and administrative expenses on the consolidated statements of operations. Supplemental Balance Sheet Data Summary of Accounts Receivable, net December 31, 2020 2019 From customers $ 101.7 $ 104.1 Less allowance for doubtful accounts and sales discounts (1.5) (1.5) Total $ 100.2 $ 102.6 Summary of Inventories December 31, 2020 2019 Inventories by Major Class: Raw materials $ 28.9 $ 32.8 Work in progress 20.1 26.4 Finished goods 61.0 67.3 Supplies and other 5.3 5.2 115.3 131.7 Excess of FIFO over LIFO cost (6.4) (8.9) Total $ 108.9 $ 122.8 The first-in, first-out ("FIFO") value of inventories valued on the LIFO method was $88.5 million and $102.2 million at December 31, 2020 and 2019, respectively. For the years ended December 31, 2020 and 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. Summary of Prepaid and Other Current Assets December 31, 2020 2019 Prepaid and other current assets $ 10.6 $ 9.9 Spare parts 6.4 6.4 Receivable for income taxes 8.1 2.0 Total $ 25.1 $ 18.3 Summary of Property, Plant and Equipment, net December 31, 2020 2019 Land and land improvements $ 20.5 $ 19.4 Buildings 160.0 165.4 Machinery and equipment 614.9 651.0 Construction in progress 17.4 14.8 812.8 850.6 Less accumulated depreciation 483.4 470.0 Net Property, Plant and Equipment $ 329.4 $ 380.6 Depreciation expense for the years ended December 31, 2020, 2019 and 2018 was $31.5 million, $33.9 million and $32.6 million, respectively. Interest expense capitalized as part of the costs of capital projects was $0.3 million, $0.2 million and $0.2 million, respectively, for the years ended December 31, 2020, 2019 and 2018. Summary of Accrued Expenses December 31, 2020 2019 Accrued salaries and employee benefits $ 34.0 $ 26.2 Amounts due to customers 8.4 8.9 Accrued income taxes 5.5 0.5 Accrued utilities 3.4 3.0 Other 10.6 8.4 Total $ 61.9 $ 47.0 Summary of Noncurrent Employee Benefits December 31, 2020 2019 Pension benefits $ 62.0 $ 57.1 Post-employment benefits other than pensions (a) 34.8 36.0 Total $ 96.8 $ 93.1 _______________________ (a) Post-employment benefits other than pensions included $0.8 million of SRCP benefits and $0.2 million of other long-term benefits as of December 31, 2020. As of December 31, 2019, $1.7 million of SRCP benefits and $0.2 million of other long-term benefits were included. Supplemental Cash Flow Data Supplemental Disclosure of Cash Flow Information Year Ended December 31, 2020 2019 2018 Cash paid during the year for interest, net of interest expense capitalized $ 12.3 $ 10.9 $ 11.9 Cash paid during the year for income taxes, net of refunds 3.6 13.3 7.6 Non-cash investing activities: Liability for equipment acquired 3.3 3.2 3.4 Net Cash Provided by (Used in) Changes in Operating Working Capital, Net of Effect of Acquisitions Year Ended December 31, 2020 2019 2018 Accounts receivable $ 4.5 $ 11.6 $ (0.9) Inventories 15.7 8.2 3.8 Income taxes receivable/payable (1.4) (5.4) (1.8) Prepaid and other current assets (0.2) 2.4 (1.8) Accounts payable (3.6) (14.0) 0.3 Accrued expenses 3.2 (3.4) (0.6) Total $ 18.2 $ (0.6) $ (1.0)

SCHEDULE II SCHEDULE OF VALUATI

SCHEDULE II SCHEDULE OF VALUATION AND QUALIFYING ACCOUNTS	12 Months Ended
	Dec. 31, 2020
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
SCHEDULE II SCHEDULE OF VALUATION AND QUALIFYING ACCOUNTS	SCHEDULE OF VALUATION AND QUALIFYING ACCOUNTS (Dollars in millions) Description Balance at Charged to Charged Write-offs Balance at December 31, 2020 Allowances deducted from assets to which they apply Allowance for doubtful accounts receivable $ 1.0 $ 0.5 $ — $ (0.4) $ 1.1 Allowance for sales discounts 0.4 (0.1) — — 0.3 Valuation allowance for deferred income tax assets 5.8 4.6 — — 10.4 December 31, 2019 Allowances deducted from assets to which they apply Allowance for doubtful accounts receivable $ 0.8 $ 0.5 $ — $ (0.3) $ 1.0 Allowance for sales discounts 0.5 — (0.1) — 0.4 Valuation allowance for deferred income tax assets 2.7 — 3.1 — 5.8 December 31, 2018 Allowances deducted from assets to which they apply Allowance for doubtful accounts receivable $ 0.8 $ 0.1 $ — $ (0.1) $ 0.8 Allowance for sales discounts 0.5 — — — 0.5 Valuation allowance for deferred income tax assets 0.4 0.1 2.2 — 2.7

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The consolidated financial statements include the financial statements of the Company and its wholly owned and majority owned subsidiaries. All inter-company balances and transactions have been eliminated in consolidation.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of net sales and expenses during the reporting periods. Actual results could differ from these estimates, and changes in these estimates are recorded when known. Significant management judgment is required in determining the accounting for, among other things, reserves for uncertain tax positions, pension and postretirement benefit obligations, retained insurable risks, reserves for sales discounts and allowances, purchase price allocations, useful lives for depreciation and amortization, asset retirement obligations ("AROs"), future cash flows associated with impairment testing for tangible and intangible long-lived assets, goodwill, valuation allowance for deferred tax assets, contingencies, inventory obsolescence and market reserves and the valuation of stock-based compensation.
Revenue Recognition	Revenue Recognition 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 contractual arrangements. 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 material. Sales terms in the technical products business vary depending on the type of product sold and customer category. In general, sales are collected in approximately 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 percent for early customer payments, with discounts of 1 percent and 20-day terms used most often. Extended credit terms are offered to customers located in certain international markets. Refer to Note 13, "Business Segment and Geographic Information", for further disaggregation of revenue.
Cash and Cash Equivalents	Cash and Cash EquivalentsCash and cash equivalents include all cash balances and highly liquid investments with an initial maturity of three months or less. The Company places its temporary cash investments with high credit quality financial institutions.
Inventories	Inventories U.S. inventories are valued at the lower of cost, using the last-in, first-out ("LIFO") method for financial reporting purposes, or market. European inventories are valued at the lower of cost, using a weighted-average cost method, or net realizable value. Cost includes labor, materials and production overhead.
Foreign Currency	Foreign Currency Balance sheet accounts of the Company's operations in Germany and the Netherlands, the United Kingdom (the "U.K."), and Canada are translated from Euros, British Pounds, and Canadian dollars, respectively, into U.S. dollars at period-end exchange rates, and income and expense accounts are translated at average exchange rates during the period. Translation gains or losses related to net assets located in Germany, the Netherlands, the U.K., and Canada are recorded as unrealized foreign currency translation adjustments within accumulated other comprehensive income (loss) ("AOCI") in stockholders' equity. Gains and losses resulting from foreign currency transactions (transactions denominated in a currency other than the entity's functional currency) are included in Other expense, net in the consolidated statements of operations.
Property and Depreciation	Property and Depreciation Property, plant and equipment are stated at cost, less accumulated depreciation. Certain costs of software developed or obtained for internal use are capitalized. When property, plant and equipment is sold or retired, the costs and the related accumulated depreciation are removed from the accounts, and the gains or losses are recorded in Other (income) expense, net. For financial reporting purposes, depreciation is principally computed on the straight-line method over estimated useful asset lives. The weighted average remaining useful lives for buildings, land improvements and machinery and equipment are approximately 17 years, 20 years and 9 years, respectively. The units-of-production method of depreciation is used for the U.S. transportation filtration production assets with a gross book value of $29.4 million, which reflects the nature of the assets' utilization. For income tax purposes, accelerated methods of depreciation are used. The costs of major rebuilds and replacements of plant and equipment are capitalized, and the cost of maintenance performed on manufacturing facilities, composed of labor, materials and other incremental costs, is expensed as incurred. Start-up costs for new or expanded facilities, including costs related to trial production, are expensed as incurred. The Company accounts for AROs in accordance with Accounting Standards Codification ("ASC") Topic 410, Asset Retirements and Environmental Obligations
Stock-Based Compensation	Stock-Based Compensation The Company accounts for stock-based compensation in accordance with the fair value recognition provisions of ASC Topic 718, Compensation — Stock Compensation ("ASC Topic 718"). The amount of stock-based compensation cost recognized is based on the fair value of grants that are ultimately expected to vest and is recognized pro-rata over the requisite service period for the entire award.
Research and Development Expense	Research and Development Expense Research and development costs are charged to expense as incurred and are recorded in "Selling, general and administrative expenses" on the consolidated statement of operations. See Note 14, "Supplemental Data — Supplemental Statement of Operations Data."
Fair Value Measurements and Fair Value of Pension Plan Assets	Fair Value Measurements The Company measures fair value in accordance with 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
Fair Value of Financial Instruments	Fair Value of Financial Instruments As of December 31, 2020 and 2019, the carrying values of the Company’s debt approximated fair value.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. The Company's investments in marketable securities are accounted for as "available-for-sale securities" in accordance with ASC Topic 320, Investments — Debt and Equity Securities ("ASC Topic 320"). Pursuant to ASC Topic 320, marketable securities are reported at fair value on the consolidated balance sheet and holding gains and losses are reported in "Other Income (Expense), net" on the Company's consolidated statements of operations. At December 31, 2020, the Company had $4.3 million in marketable securities classified as Other assets on the consolidated balance sheet. The cost of such marketable securities was $4.7 million. Fair value for the Company's marketable securities was estimated from Level 1 inputs. The Company's marketable securities are designated for the payment of benefits under its supplemental employee retirement plan ("SERP").
Accounting Standards Changes	Accounting Standards Changes In August 2018, the Financial Accounting Standards Board (the "FASB") issued the Accounting Standards Update ("ASU") 2018-14, Compensation—Retirement Benefits—Defined Benefit Plans—General (Topic 715-20): Disclosure Framework—Changes to the Disclosure Requirements For Defined Benefit Plans . The ASU modified the annual disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans. The guidance requires disclosure changes to be presented on a retrospective basis. The Company adopted the guidance as of year-ended December 31, 2020. As this standard relates only to financial disclosures, its adoption did not have an impact on results of operations, financial position or cash flows. In January 2020, the Company adopted ASU 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. In March 2020, the FASB issued ASU 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.
Earnings per Share	The Company's restricted stock units ("RSUs") are paid non-forfeitable common stock dividends and thus meet the criteria of participating securities. Accordingly, basic EPS has been calculated using the two-class method, under which earnings are allocated to both common stock and participating securities. Basic EPS has been computed by dividing net income allocated to common stock by the weighted average common shares outstanding. For the computation of basic EPS, weighted average RSUs outstanding are excluded from the calculation of weighted average shares outstanding. ASC Topic 260, Earnings per Share ("ASC Topic 260") requires companies with participating securities to calculate diluted earnings per share using the "two class" method. The "two class" method requires first calculating diluted earnings per share using a denominator that includes the weighted average share equivalents from the assumed conversion of dilutive securities. Diluted earnings per share is then calculated using net income reduced by the amount of distributed and undistributed earnings allocated to participating securities calculated using the "Treasury Stock" method and a denominator that includes the weighted average share equivalents from the assumed conversion of dilutive securities excluding participating securities. Companies are required to report the lower of the diluted earnings per share amounts under the two calculations subject to the anti-dilution provisions of ASC Topic 260.
Goodwill	The Company follows the guidance of ASC Topic 805, Business Combinations ("ASC Topic 805"), in recording goodwill arising from a business combination as the excess of purchase price over the fair value of identifiable assets acquired and liabilities assumed. The Company tests goodwill for impairment at least annually on November 30 in conjunction with preparation of its annual business plan, or more frequently if events or circumstances indicate it might be impaired. The Company tested goodwill for impairment as of November 30, 2020 under ASC Topic 350, Intangibles — Goodwill and Other
Finite-Lived Intangible Assets	Intangible assets with finite useful lives are amortized on a straight-line basis over their respective estimated useful lives to their estimated residual values, and reviewed for impairment in accordance with ASC Topic 360, Property, Plant, and Equipment
Business Segments	The Company's reportable operating segments consist of Technical Products, Fine Paper and Packaging and, in 2018 only, Other. 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 transfer papers, 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.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Schedule of level 3 defined benefit pension plan assets measured at fair value	The following table summarizes the changes in Level 3 defined benefit pension plan assets (Neenah Coldenhove insurance contract for which fair value is determined based on actuarial assumptions) measured at fair value on a recurring basis for the year ended December 31, 2020 and 2019: Return on plan assets Fair Value at January 1 Attributable to Assets Held at December 31 Attributable to Assets Sold Net Purchases/ (Settlements) Transfers into/ (out of) Level 3 Foreign currency effects Fair For the year ended December 31, 2018 $ 48.4 (0.9) — (0.3) — (2.1) $ 45.1 For the year ended December 31, 2019 $ 45.1 7.5 — (0.2) — (0.9) $ 51.5 For the year ended December 31, 2020 $ 51.5 5.0 — (1.5) — 5.1 $ 60.1

Earnings per Share ("EPS") (Tab

Earnings per Share ("EPS") (Tables)	12 Months Ended
	Dec. 31, 2020
Earnings Per Share [Abstract]
Schedule of earnings per share, basic and diluted	The following table presents the computation of basic and diluted shares of common stock used in the calculation of EPS (amounts in millions, except share and per share amounts): Earnings (loss) per basic common share Year Ended December 31, 2020 2019 2018 Income (loss) from continuing operations $ (15.8) $ 55.4 $ 37.2 Amounts attributable to participating securities (0.2) (0.3) (0.2) Income (loss) from continuing operations available to common stockholders (16.0) 55.1 37.0 Loss from discontinued operations, net of income taxes — — (0.8) Net income (loss) available to common stockholders $ (16.0) $ 55.1 $ 36.2 Weighted-average basic shares outstanding 16,813 16,848 16,850 Basic earnings (loss) per share Continuing operations $ (0.96) $ 3.27 $ 2.20 Discontinued operations — — (0.05) $ (0.96) $ 3.27 $ 2.15 Earnings (loss) per diluted common share Year Ended December 31, 2020 2019 2018 Income (loss) from continuing operations $ (15.8) $ 55.4 $ 37.2 Amounts attributable to participating securities (0.2) (0.3) (0.4) Income (loss) from continuing operations available to common stockholders (16.0) 55.1 36.8 Loss from discontinued operations, net of income taxes — — (0.8) Net income (loss) available to common stockholders $ (16.0) $ 55.1 $ 36.0 Weighted-average basic shares outstanding 16,813 16,848 16,850 Add: Assumed incremental shares under stock-based compensation plans — 58 118 Weighted average diluted shares 16,813 16,906 16,968 Diluted earnings (loss) per share Continuing operations $ (0.96) $ 3.26 $ 2.17 Discontinued operations — — (0.05) $ (0.96) $ 3.26 $ 2.12

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of changes in the carrying amount of goodwill	The following table presents the carrying value of goodwill by business segment and changes in the carrying value of goodwill. Technical Products Fine Paper and Other Gross Accumulated Gross Amount Accumulated Gross Accumulated Net Net Net Net Balance at December 31, 2018 $ 124.9 $ (47.4) $ 77.5 $ 6.2 $ — $ 6.2 $ 0.4 $ (0.1) $ 0.3 $ 84.0 Realignment of Other segment (a) 0.4 (0.1) 0.3 — — — (0.4) 0.1 (0.3) — Foreign currency translation (1.9) 1.0 (0.9) — — — — — — (0.9) Balance at December 31, 2019 123.4 (46.5) 76.9 6.2 — 6.2 — — — 83.1 Foreign currency translation 8.6 (4.3) 4.3 — — — — — — 4.3 Balance at December 31, 2020 $ 132.0 $ (50.8) $ 81.2 $ 6.2 $ — $ 6.2 $ — $ — $ — $ 87.4 _______________________ (a) 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. See Note 13, "Business Segment and Geographic Information."
Schedule of gross carrying amount of intangible assets and the related accumulated amortization for intangible assets subject to amortization	The following table details amounts related to those assets. 12/31/2020 12/31/2019 Gross Accumulated Gross Accumulated Amortizable intangible assets Customer based intangibles $ 39.6 $ (24.0) $ 38.2 $ (20.4) Trade names and trademarks 5.2 (3.1) 5.1 (2.7) Acquired technology 17.3 (9.3) 16.9 (8.0) Total amortizable intangible assets 62.1 (36.4) 60.2 (31.1) Indefinite life trade names, net of impairment losses of $1.3 million as of 12/31/20 36.9 — 37.6 — Total $ 99.0 $ (36.4) $ 97.8 $ (31.1)

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Schedule of difference between the effective income tax rate and the U.S. federal statutory income tax rate	The following table presents the principal reasons for the difference between the Company's effective income tax rate and the U.S. federal statutory income tax rate: Year Ended December 31, 2020 2020 2019 2019 2018 2018 U.S. federal statutory income tax rate (21.0) % $ (3.9) 21.0 % $ 14.0 21.0 % $ 8.6 U.S. state income taxes, net of federal income tax benefit (10.2) % (1.9) 1.4 % 0.9 (1.0) % (0.4) Foreign tax rate differences (a) 15.0 % 2.8 3.6 % 2.4 6.8 % 2.8 Foreign financing structure (b) (11.2) % (2.1) (3.0) % (2.0) (5.1) % (2.1) U.S. tax on foreign earnings (c) 4.3 % 0.8 0.9 % 0.6 3.6 % 1.5 Research and development and other tax credits (15.5) % (2.9) (6.2) % (4.1) (10.5) % (4.3) Benefit of CARES Act NOL carryback (d) (4.8) % (0.9) — % — — % — Change in valuation allowances (e) 25.2 % 4.7 0.2 % 0.1 — % — Change in reserves for uncertain tax positions (3.7) % (0.7) (1.9) % (1.3) 2.0 % 0.8 Change in statutory tax rates (f) — % — — % — (3.9) % (1.6) Excess tax benefits from stock compensation 1.1 % 0.2 (0.2) % (0.1) (2.9) % (1.2) Other differences, net 5.3 % 1.0 0.9 % 0.6 (0.5) % (0.2) Effective income tax rate (15.5) % $ (2.9) 16.7 % $ 11.1 9.5 % $ 3.9 _______________________ (a) Represents the impact on the Company's effective tax rate due to the mix of earnings among taxing jurisdictions with differing statutory rates. In each year, the U.S. federal tax rate is lower than the tax rate in Germany and the Netherlands. (b) Represents the impact on the Company's effective tax rate of the Company's financing strategies. (c) For 2018, the amount includes an adjustment of $0.8 million due to the mandatory one-time tax on the accumulated E&P of foreign subsidiaries and in all years includes federal GILTI impacts and state taxation of foreign E&P. (d) Represents the net benefit of the CARES Act provision to allow for the carryback of the NOL generated in 2020 to the 2015 tax year. The net tax benefit of $0.9 million included a $5.0 million benefit from the tax rate differential and other factors, offset by a $3.0 million impact from provisions of GILTI and a $1.1 million increase in the reserve for uncertain income tax positions for restored R&D Credits. (e) For 2020, as a result of the impacts of COVID-19 and other factors, we evaluated our ability to utilize our deferred tax assets, including research and development and other tax credits and NOLs, before they expire. We recorded a $4.6 million increase to the valuation allowance against our state tax credits and NOLs, the majority of which related to adjustments to the beginning of year valuation allowance for changes in judgment about the realizability of these deferred tax assets in future years. (f) Represents the net benefit from remeasurement of the net deferred income tax liabilities from tax rate changes. For 2018, the amount reflects a tax benefit adjustment of $0.9 million from the TCJA, plus $0.7 million of tax benefit from a federal tax rate change in the Netherlands.
Schedule of the U.S. and foreign components of income from continuing operations before income taxes	The following table presents the U.S. and foreign components of income from continuing operations before income taxes: Year Ended December 31, 2020 2019 2018 Income (loss) from continuing operations before income taxes: U.S. $ (55.6) $ 30.1 $ (1.7) Foreign 36.9 36.4 42.8 Total $ (18.7) $ 66.5 $ 41.1
Schedule of components of the provision (benefit) for income taxes	The following table presents the components of the provision (benefit) for income taxes: Year Ended December 31, 2020 2019 2018 Provision (benefit) for income taxes: Current: Federal $ (8.1) $ 0.3 $ (3.0) State 0.3 (0.2) 0.1 Foreign 9.8 7.6 8.7 Total current income tax provision 2.0 7.7 5.8 Deferred: Federal (6.5) 3.0 (0.6) State 2.5 0.8 (0.2) Foreign (0.9) (0.4) (1.1) Total deferred income tax provision (4.9) 3.4 (1.9) Total provision (benefit) for income taxes $ (2.9) $ 11.1 $ 3.9
Schedule of components of deferred tax assets and liabilities	The components of deferred income tax assets and liabilities, net of reserves for uncertain tax positions and valuation allowances, are as follows: December 31, 2020 2019 Deferred income tax assets (liabilities) Research and development tax credits $ 27.5 $ 21.5 Employee benefits 15.6 15.9 Net operating losses and other tax credits 3.7 6.4 Lease liabilities 4.6 3.1 Accrued liabilities 1.4 2.1 Inventories (a) — (0.6) Lease right-of-use assets (4.3) (2.8) Intangibles (4.7) (4.7) Property, plant and equipment (a) (26.7) (28.0) Other 1.2 0.5 Net deferred income tax assets $ 18.3 $ 13.4 Deferred income tax assets (liabilities) Property, plant and equipment $ (16.8) $ (16.7) Intangibles (3.0) (3.0) Inventories (0.8) (0.9) Lease right-of-use assets (0.9) (0.7) Net operating losses 0.2 0.2 Lease liabilities 0.9 0.7 Employee benefits 9.5 7.5 Other (1.4) — Net deferred income tax liabilities $ (12.3) $ (12.9) _______________________ (a) As of December 31, 2020, included within property, plant and equipment and inventories was a deferred tax liability resulting from tax accounting method changes of $(3.5) million and $(0.6) million, respectively.
Schedule of reconciliation of the total amounts of uncertain tax positions	The following is a tabular reconciliation of the total amounts of uncertain tax positions as of and for the years ended December 31, 2020, 2019 and 2018: For the Years Ended 2020 2019 2018 Balance at January 1, $ 7.8 $ 10.1 $ 10.0 Increases in prior period tax positions 1.1 0.7 0.1 Decreases in prior period tax positions (0.2) (1.2) — Increases in current period tax positions 0.6 0.6 0.8 Decreases due to lapse of statutes of limitations (1.3) (1.5) (0.6) Increases due to change in tax rates — — 0.1 Decreases due to settlements with tax authorities — (0.9) (0.2) Increases (decreases) from foreign exchange rate changes — — (0.1) Balance at December 31, $ 8.0 $ 7.8 $ 10.1

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Schedule of long-term debt	Long-term debt consisted of the following: December 31, 2020 2019 Term Loan B Credit Facility (variable rates) due June 2027 $ 199.0 $ — 2021 Senior Notes (5.25% fixed rate) due May 2021 — 175.0 Global Revolving Credit Facility (variable rates) due December 2023 — 21.6 Second German Loan Agreement (2.45% fixed rate) due in quarterly installments ending September 2022 2.4 3.5 Third German Loan Agreement (1.45% fixed rate) due in quarterly installments ending September 2022 2.6 3.7 Deferred financing costs (9.6) (3.0) Total Debt 194.4 200.8 Less: Debt payable within one year 4.9 2.6 Long-term debt $ 189.5 $ 198.2
Schedule of leverage ratios and mandatory prepayment requirements	The Company is required to make mandatory prepayments of the Term Loan B, commencing with the fiscal year ending December 31, 2021, based on certain secured leverage ratios levels, among other requirements, as per below: Secured leverage ratio levels Mandatory prepayments < 1.50 No prepayments required 1.50 - 2.50 25% of Excess Cash Flow > 2.50 50% of Excess Cash Flow
Schedule of ABR interest rates applicable to outstanding borrowings	ABR borrowings under the Global Revolving Credit Facility will bear interest at the highest interest rate shown in the following table: Applicable Margin U.S. Revolving German Revolving Prime rate —%-0.25% Not applicable Federal funds rate +0.50% —%-0.25% Not applicable Monthly LIBOR (which cannot be less than zero) +1.00% —%-0.25% Not applicable Overnight LIBOR (which cannot be less than zero) Not applicable 1.25%-1.75%
Schedule of debt payments	The following table presents the Company's required debt payments: 2021 2022 2023 2024 2025 Thereafter Total Debt payments $ 4.9 $ 4.1 $ 2.0 $ 2.0 $ 2.0 $ 189.0 $ 204.0

Pension and Other Postretirem_2

Pension and Other Postretirement Benefits (Tables)	12 Months Ended
	Dec. 31, 2020
Retirement Benefits [Abstract]
Schedule of reconciliation of benefit obligations, plan assets, funded status and net liability information of the Company's pension and other postretirement benefit plans	The following table reconciles the benefit obligations, plan assets, funded status and net liability information of the Company's pension and other postretirement benefit plans. Pension Benefits Postretirement Year Ended December 31, 2020 2019 2020 2019 Change in Benefit Obligation: Benefit obligation at beginning of year $ 482.4 $ 430.7 $ 39.7 $ 42.4 Service cost 4.6 5.0 1.0 1.2 Interest cost 14.1 16.2 1.0 1.5 Currency 9.7 (1.2) 0.3 0.1 Actuarial (gain) loss 44.6 55.0 2.5 (0.7) Benefit payments from plans (22.3) (21.1) (4.7) (4.8) Plan curtailment (a) — (2.8) — — Settlement payments (1.6) (0.5) — — Other — 1.1 — — Benefit obligation at end of year $ 531.5 $ 482.4 $ 39.8 $ 39.7 Change in Plan Assets: Fair value of plan assets at beginning of year $ 424.1 $ 375.2 $ — $ — Actual gain (loss) on plan assets 51.9 62.1 — — Employer contributions 6.8 8.3 — — Currency 5.5 (0.5) — — Benefit payments (22.3) (21.1) — — Settlement payments (1.6) (0.5) — — Other — 0.6 — — Fair value of plan assets at end of year $ 464.4 $ 424.1 $ — $ — Reconciliation of Funded Status Fair value of plan assets $ 464.4 $ 424.1 $ — $ — Projected benefit obligation 531.5 482.4 39.8 39.7 Net liability recognized in statement of financial position $ (67.1) $ (58.3) $ (39.8) $ (39.7) Amounts recognized in statement of financial position consist of: Current liabilities $ (5.1) $ (1.2) $ (6.0) $ (5.6) Noncurrent liabilities (62.0) (57.1) (33.8) (34.1) Net amount recognized $ (67.1) $ (58.3) $ (39.8) $ (39.7) _______________________ (a) For the year ended December 31, 2019, the Company recognized a curtailment gain of $1.6 million related to the Neenah Coldenhove pension plan. See discussion earlier in this Note.
Schedule of amounts recognized in accumulated other comprehensive income (loss)	Amounts recognized in accumulated other comprehensive income (loss) consist of: Pension Postretirement December 31, 2020 2019 2020 2019 Accumulated actuarial loss $ 126.8 $ 117.8 $ 8.8 $ 7.2 Prior service cost 0.6 0.9 — — Total recognized in AOCI $ 127.4 $ 118.7 $ 8.8 $ 7.2
Summary of disaggregated information about the pension plans	Summary disaggregated information about the pension plans follows: December 31, Assets Exceed ABO Exceed Total 2020 2019 2020 2019 2020 2019 Projected benefit obligation $ — $ — $ 531.5 $ 482.4 $ 531.5 $ 482.4 Accumulated benefit obligation — — 527.9 478.3 527.9 478.3 Fair value of plan assets — — 464.4 424.1 464.4 424.1
Schedule of components of net periodic benefit cost for defined benefit plans	Components of Net Periodic Benefit Cost Pension Benefits Postretirement Benefits Year Ended December 31, 2020 2019 2018 2020 2019 2018 Service cost $ 4.6 $ 5.0 $ 6.7 $ 1.0 $ 1.2 $ 1.1 Interest cost 14.1 16.2 15.8 1.0 1.5 1.4 Expected return on plan assets (a) (20.7) (21.1) (21.0) — — — Recognized net actuarial loss 5.4 4.9 5.2 0.9 0.9 0.8 Amortization of prior service cost (credit) 0.3 0.2 0.2 — — (0.2) Curtailment gain — (1.6) — — — — Amount of settlement loss recognized 0.3 0.1 0.8 — — — Net periodic benefit cost $ 4.0 $ 3.7 $ 7.7 $ 2.9 $ 3.6 $ 3.1 _______________________ (a) The expected return on plan assets, excluding the Neenah Coldenhove 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 Neenah Coldenhove 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.
Schedule of other changes in plan assets and benefit obligations recognized in other comprehensive income (loss)	Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income (Loss) Pension Benefits Postretirement Benefits Year Ended December 31, 2020 2019 2018 2020 2019 2018 Net periodic benefit expense $ 4.0 $ 3.7 $ 7.7 $ 2.9 $ 3.6 $ 3.1 Accumulated actuarial gain (loss) 9.0 7.7 4.2 1.6 (1.5) 0.1 Prior service cost (credit) (0.3) 0.2 (0.1) — — 0.2 Total recognized in other comprehensive income (loss) 8.7 7.9 4.1 1.6 (1.5) 0.3 Total recognized in net periodic benefit cost and other comprehensive income (loss) $ 12.7 $ 11.6 $ 11.8 $ 4.5 $ 2.1 $ 3.4
Schedule of weighted-average assumptions used to determine benefit obligations	Weighted-Average Assumptions Used to Determine Benefit Obligations at December 31 Pension Postretirement 2020 2019 2020 2019 Discount rate 2.28 % 2.98 % 1.67 % 2.68 % Rate of compensation increase 1.54 % 2.05 % — % — % Initial healthcare cost trend rate — % — % 5.25 % 6.10 % Ultimate healthcare cost trend rate — % — % 4.00 % 4.50 % Ultimate year — — 2045 2037
Schedule of weighted-average assumptions used to determine net periodic benefit cost	Weighted-Average Assumptions Used to Determine Net Periodic Benefit Cost for Years Ended December 31 Pension Benefits Postretirement Year Ended December 31, 2020 2019 2018 2020 2019 2018 Discount rate 2.98 % 3.78 % 3.65 % 2.68 % 3.84 % 3.42 % Expected long-term return on plan assets (a) 5.42 % 5.91 % 5.78 % — % — % — % Rate of compensation increase 2.05 % 2.33 % 2.44 % 2.50 % 2.50 % 2.50 % Initial healthcare cost trend rate — % — % — % 6.10 % 6.50 % 6.80 % Ultimate healthcare cost trend rate — % — % — % 4.50 % 4.50 % 4.50 % Ultimate year — — — 2037 2037 2037 _______________________ (a) The expected long-term return on plan assets does not include the Neenah Coldenhove plan assets. The Neenah Coldenhove 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.
Schedule of pension plan asset allocations	Pension plan asset allocations are as follows: Percentage of Plan 2020 2019 Asset Category (a) Equity securities 36 % 33 % Hedge fund / Other 8 % 8 % Debt securities / Fixed Income 56 % 59 % Cash and money-market funds — % — % Total 100 % 100 % _______________________ (a) The asset categories do not include the insurance contract related to the Neenah Coldenhove pension plan.
Schedule of target investment allocation and permissible allocation range for plan assets by category	The weighted average target investment allocation and permissible allocation range for plan assets by category are as follows: Strategic Target Permitted Range Asset Category Equity securities 33 % 28%-38% Hedge fund / Other 8 % 3%-13% Debt securities / Fixed Income 59 % 54%-64%
Schedule of future benefit payments	The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid: Pension Plans Postretirement Benefits 2021 $ 26.8 $ 6.0 2022 23.8 4.8 2023 24.6 4.5 2024 25.5 4.1 2025 25.7 3.7 Years 2026-2030 131.7 12.3

Stock Compensation Plans (Table

Stock Compensation Plans (Tables)	12 Months Ended
	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Schedule of stock-based compensation expense and related income tax benefits	The following table summarizes stock-based compensation costs and related income tax benefits. Year Ended December 31, 2020 2019 2018 Stock-based compensation expense $ 4.2 $ 5.6 $ 4.0 Income tax benefit (1.1) (1.4) (1.0) Stock-based compensation, net of income tax benefit $ 3.1 $ 4.2 $ 3.0
Schedule of total compensation costs related to the Company's equity awards and amounts recognized	The following table summarizes total compensation costs related to the Company's equity awards and amounts recognized in the year ended December 31, 2020. Stock Options Performance Unrecognized compensation cost — December 31, 2019 $ 0.2 $ 2.4 Grant date fair value current year grants — 7.4 Shares forfeited — (1.8) Compensation expense recognized (0.2) (4.1) Unrecognized compensation cost — December 31, 2020 $ — $ 3.9 Expected amortization period (in years) 0.6 1.8
Schedule of stock options awarded	The following tables present information regarding stock options awarded during the years ended December 31, 2019 and 2018. There were no stock options awarded during the year ended December 31, 2020. 2019 2018 Stock options granted 1,272 108,420 Per share weighted-average exercise price $ 66.59 $ 93.22 Per share weighted-average grant date fair value $ 10.32 $ 15.00
Schedule of assumptions used to determine the grant date fair value of options granted	The weighted-average grant date fair value for stock options granted for the years ended December 31, 2019 and 2018 was estimated using the Black-Scholes option valuation model with the following assumptions: 2019 2018 Expected term in years 5.0 5.7 Risk free interest rate 1.8 % 2.5 % Volatility 23.1 % 21.5 % Dividend yield 3.0 % 3.0 %
Schedule of stock option activity under the Omnibus Plan	The following table summarizes stock option activity under the Omnibus Plan for the year ended December 31, 2020: Number of Weighted-Average Options outstanding — December 31, 2019 416,548 $ 70.08 Add: Options granted — $ — Less: Options exercised 13,434 $ 32.89 Less: Options forfeited/cancelled 22,270 $ 80.49 Options outstanding — December 31, 2020 380,844 $ 70.99
Schedule of outstanding and exercisable stock options summarized by exercise price	The status of outstanding and exercisable stock options as of December 31, 2020, summarized by exercise price follows: Options Vested or Expected to Vest Options Exercisable Exercise Price Number of Weighted- Weighted- Aggregate Number of Weighted- Aggregate $19.25 — $31.23 31,884 1.6 $ 27.86 $ 0.9 31,884 $ 27.86 $ 0.9 $42.82 — $64.23 132,516 4.4 $ 55.70 0.3 131,386 $ 55.81 0.3 $66.59 — $93.35 216,444 6.5 $ 86.70 — 199,381 $ 86.29 — 380,844 5.4 $ 70.99 $ 1.2 362,651 $ 70.11 $ 1.2 _______________________ (a) Represents the total pre-tax intrinsic value as of December 31, 2020 that option holders would have received had they exercised their options as of such date. The pre-tax intrinsic value is based on the closing market price for the Company's common stock of $55.32 on December 31, 2020.
Schedule of status of the Company's unvested stock options	The following table summarizes the status of the Company's unvested stock options as of December 31, 2020 and activity for the year then ended: Number of Weighted-Average Outstanding — December 31, 2019 98,519 $ 14.41 Add: Options granted — $ — Less: Options vested 77,961 $ 14.30 Less: Options forfeited 2,365 $ 15.03 Outstanding — December 31, 2020 18,193 $ 14.48
Summary of activity of unvested stock-based awards	The following table summarizes the activity of the Company's unvested stock-based awards (other than stock options) for the years ended December 31, 2020, 2019 and 2018: RSUs Weighted-Average PSUs Weighted-Average Outstanding — December 31, 2017 88,799 $ 53.33 41,377 $ 81.85 Shares granted (a) 10,618 $ 82.29 40,747 $ 93.21 Shares vested (72,190) $ 60.24 — $ — Performance Shares vested 33,928 $ 88.40 (31,421) $ 81.85 Shares expired or cancelled (7,695) $ 84.45 (3,482) $ 84.45 Outstanding — December 31, 2018 53,460 $ 67.53 47,221 $ 93.21 Shares granted (a) 46,556 $ 67.04 49,730 $ 69.05 Shares vested (63,595) $ 72.91 — $ — Performance Shares vested 10,354 $ 93.21 (25,833) $ 93.21 Shares expired or cancelled (2,113) $ 69.35 (4,927) $ 85.67 Outstanding — December 31, 2019 44,662 $ 65.23 66,191 $ 75.62 Shares granted (a) 100,418 $ 56.39 44,206 $ 63.07 Shares vested (61,767) $ 68.28 — $ — Performance Shares vested 21,101 $ 69.22 (37,804) $ 75.60 Shares expired or cancelled (22,210) $ 64.16 (18,545) $ 83.30 Outstanding — December 31, 2020 (b) 82,204 $ 53.45 54,048 $ 62.73 _______________________ (a) For the years ended December 31, 2020, 2019 and 2018, includes 72 RSUs, 43 RSUs and 132 RSUs, respectively, that were granted in lieu of cash dividends. Such dividends-in-kind vest concurrently with the underlying RSUs. (b) The aggregate pre-tax intrinsic value of outstanding RSUs as of December 31, 2020 was $4.5 million.

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2020
Stockholders' Equity Note [Abstract]
Schedules of shares purchased under stock purchase plan	The following table shows shares purchased under the respective stock purchase plans: Year Ended December 31, 2020 2019 2018 Shares $ Shares $ Shares $ 2020 Stock Purchase Plan 59,577 $ 3.6 2019 Stock Purchase Plan 79,676 $ 4.9 2018 Stock Purchase Plan 124,434 $ 9.3
Schedule of accumulated other comprehensive income (loss)	The components of accumulated other comprehensive income (loss), net of applicable income taxes are as follows: December 31, 2020 2019 Net loss from pension and other postretirement benefit liabilities, net of income tax benefits of $34.2 million and $31.6 million, respectively $ (102.0) $ (94.3) Unrealized foreign currency translation losses, net of income tax benefit (expense) of $(0.4) million and $0.3 million, respectively (1.7) (19.0) AOCI $ (103.7) $ (113.3) The following table presents changes in accumulated other comprehensive income (loss): Year Ended December 31, 2020 2019 2018 Pretax Tax Net Pretax Tax Net Pretax Tax Net Unrealized foreign currency translation gains (losses) $ 18.0 $ (0.7) $ 17.3 $ (3.5) $ — $ (3.5) $ (7.9) $ (0.1) $ (8.0) Adjustment to pension and other benefit liabilities (a) (10.3) 2.6 (7.7) (6.4) 1.7 (4.7) (4.4) 1.1 (3.3) Other comprehensive income (loss) $ 7.7 $ 1.9 $ 9.6 $ (9.9) $ 1.7 $ (8.2) $ (12.3) $ 1.0 $ (11.3)

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2020
Leases [Abstract]
Lease, cost	The components of lease expense were as follows: Year Ended December 31, 2020 2019 Operating lease cost $ 4.0 $ 3.1 Short-term lease cost $ 1.3 $ 1.5 Variable lease cost (a) $ 1.2 $ 2.1 _______________________ (a) The variable lease costs consist mainly of a warehouse lease where the cost is determined based on the square footage used each month.
Lease, liability, maturities	Maturities of lease liabilities were as follows: Year Ending December 31, Operating Leases 2021 $ 4.1 2022 3.8 2023 3.4 2024 2.9 2025 2.5 Thereafter 9.4 Total lease payments 26.1 Less: Imputed interest 4.5 Total lease liabilities $ 21.6

Commitments, Contingencies, a_2

Commitments, Contingencies, and Legal Matters (Tables)	12 Months Ended
	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Schedule of bargaining agreements	The following table shows the status of the Company's bargaining agreements as of December 31, 2020. Contract Expiration Date Location Union Number of Employees April 2021 Eerbeek, Netherlands CNV, FNV (a) November 2021 Lowville, NY USW 85 January 2022 Whiting, WI USW 197 May 2022 Appleton, WI USW 82 June 2022 Neenah, WI USW 183 July 2022 Munising, MI USW 173 September 2022 Weidach and Bruckmühl, Germany IG BCE (a) _______________________ (a) Under Germany and Netherlands 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.

Asset Restructuring and Impai_2

Asset Restructuring and Impairment Costs (Tables)	12 Months Ended
	Dec. 31, 2020
Restructuring and Related Activities [Abstract]
Schedule of asset restructuring and impairment costs	A summary of the asset restructuring and impairment costs incurred during the years ended December 31, 2020, 2019, and 2018 is as follows: For the Year Ended December 31, 2020 2019 2018 Impairment losses $ 54.8 $ — $ 31.1 Restructuring charges from idled assets 2.6 4.7 — Severance costs 0.4 — — Total $ 57.8 $ 4.7 $ 31.1

Business Segment and Geograph_2

Business Segment and Geographic Information (Tables)	12 Months Ended
	Dec. 31, 2020
Segment Reporting [Abstract]
Schedule of net sales by product	The following table presents sales by product category for the technical products business: Year Ended December 31, 2020 2019 2018 Filtration 46 % 42 % 40 % Performance Materials 54 % 58 % 60 % Total 100 % 100 % 100 % Year Ended December 31, 2020 2019 2018 Graphic Imaging 74 % 79 % 78 % Packaging 26 % 21 % 18 % Filing/Office — % — % 4 % Total 100 % 100 % 100 %
Schedule of net sales, operating income (loss) and total assets for each business segment	Business Segments Year Ended December 31, 2020 2019 2018 Net sales Technical Products $ 508.9 $ 541.6 $ 583.2 Fine Paper and Packaging 283.7 396.9 445.8 Other — — 5.9 Consolidated $ 792.6 $ 938.5 $ 1,034.9 Year Ended December 31, 2020 2019 2018 Operating income (loss) Technical Products (a) $ (4.8) $ 44.6 $ 50.9 Fine Paper and Packaging (b) 23.3 53.2 29.4 Other (c) — — (6.4) Unallocated corporate costs (d) (24.6) (19.5) (19.8) Consolidated $ (6.1) $ 78.3 $ 54.1 _______________________ (a) Operating income for the year ended December 31, 2020 included impairment costs of $54.1 million, other restructuring and non-routine costs of $0.7 million, COVID-19 costs of $1.4 million, and pension settlements of $0.8 million. Operating income for the year ended December 31, 2019 included restructuring and other non-routine costs of $0.3 million and a curtailment gain of $1.5 million related to the Neenah Coldenhove pension plan. Operating income for the year ended December 31, 2018 included non-cash impairment loss, restructuring and integration costs, and pension settlement charges of $2.5 million, offset by favorable acquisition adjustments of $3.9 million. (b) Operating income for the year ended December 31, 2020 included asset restructuring costs of $3.7 million, other restructuring and non-routine costs of $2.2 million, COVID-19 costs of $1.5 million, and pension settlements of $0.4 million. Operating income for the year ended December 31, 2019 included $5.7 million of non-routine costs, primarily related to idled paper machine costs due to the consolidation of the fine paper manufacturing footprint. Operating income for the year ended December 31, 2018 included non-cash impairment loss, restructuring costs, and pension settlement charges of $24.6 million, offset by favorable insurance settlement of $0.3 million. (c) Operating income for the year ended December 31, 2018 included non-cash impairment loss, restructuring costs, and a pension settlement charge of $6.0 million, offset by favorable insurance settlement of $0.1 million. (d) Unallocated corporate costs for the year ended December 31, 2020 included $5.6 million of one-time costs related to restructuring, loss on debt extinguishment, acquisition, SERP settlements and other non-routine charges. Unallocated corporate costs for the year ended December 31, 2019 included costs of $0.3 million, consisting of restructuring and other non-routine costs and a SERP settlement charge. Unallocated corporate costs for the year ended December 31, 2018 included restructuring costs and pension settlement charge of $1.9 million. Year Ended December 31, 2020 2019 2018 Depreciation and amortization Technical Products $ 23.7 $ 24.1 $ 24.4 Fine Paper and Packaging 10.8 13.2 9.9 Other — — 0.2 Corporate 2.2 1.6 1.6 Consolidated $ 36.7 $ 38.9 $ 36.1 Year Ended December 31, 2020 2019 2018 Capital expenditures Technical Products $ 13.4 $ 13.1 $ 28.0 Fine Paper and Packaging 4.6 7.7 8.7 Corporate 0.8 0.6 1.4 Consolidated $ 18.8 $ 21.4 $ 38.1 December 31, 2020 2019 Total Assets (a) Technical Products $ 552.0 $ 573.8 Fine Paper and Packaging 192.4 217.7 Corporate and other (b) 62.2 36.3 Total $ 806.6 $ 827.8 _______________________ (a) Segment identifiable assets are those that are directly used in the segments operations. (b) Corporate assets are primarily deferred income taxes, lease ROU assets, and cash.
Schedule of net sales and assets by geographic areas	Geographic Information Year Ended December 31, 2020 2019 2018 Net sales United States $ 533.1 $ 673.0 $ 744.4 Germany 203.9 196.3 216.5 Rest of Europe 55.6 69.2 74.0 Consolidated $ 792.6 $ 938.5 $ 1,034.9
Long-lived assets by geographic areas	Net sales are attributed to geographic areas based on the physical location of the selling entities. December 31, 2020 2019 Long-Lived Assets United States $ 314.4 $ 364.2 Germany 160.8 153.3 Rest of Europe 60.1 57.6 Total $ 535.3 $ 575.1

Supplemental Data (Tables)

Supplemental Data (Tables)	12 Months Ended
	Dec. 31, 2020
Balance Sheet Related Disclosures [Abstract]
Summary of advertising and research and development expenses	Summary of Advertising and Research and Development Expenses Year Ended December 31, 2020 2019 2018 Advertising expense (a) $ 3.0 $ 4.9 $ 4.7 Research and development expense (a) 7.6 8.7 9.2 _______________________ (a) Advertising expense and research and development expense are recorded in Selling, general and administrative expenses on the consolidated statements of operations.
Summary of accounts receivable - net	Summary of Accounts Receivable, net December 31, 2020 2019 From customers $ 101.7 $ 104.1 Less allowance for doubtful accounts and sales discounts (1.5) (1.5) Total $ 100.2 $ 102.6
Schedule of inventories by major class	Summary of Inventories December 31, 2020 2019 Inventories by Major Class: Raw materials $ 28.9 $ 32.8 Work in progress 20.1 26.4 Finished goods 61.0 67.3 Supplies and other 5.3 5.2 115.3 131.7 Excess of FIFO over LIFO cost (6.4) (8.9) Total $ 108.9 $ 122.8
Summary of prepaid and other current assets	Summary of Prepaid and Other Current Assets December 31, 2020 2019 Prepaid and other current assets $ 10.6 $ 9.9 Spare parts 6.4 6.4 Receivable for income taxes 8.1 2.0 Total $ 25.1 $ 18.3
Summary of property, plant and equipment - net	Summary of Property, Plant and Equipment, net December 31, 2020 2019 Land and land improvements $ 20.5 $ 19.4 Buildings 160.0 165.4 Machinery and equipment 614.9 651.0 Construction in progress 17.4 14.8 812.8 850.6 Less accumulated depreciation 483.4 470.0 Net Property, Plant and Equipment $ 329.4 $ 380.6
Summary of accrued expenses	Summary of Accrued Expenses December 31, 2020 2019 Accrued salaries and employee benefits $ 34.0 $ 26.2 Amounts due to customers 8.4 8.9 Accrued income taxes 5.5 0.5 Accrued utilities 3.4 3.0 Other 10.6 8.4 Total $ 61.9 $ 47.0
Summary of noncurrent employee benefits	Summary of Noncurrent Employee Benefits December 31, 2020 2019 Pension benefits $ 62.0 $ 57.1 Post-employment benefits other than pensions (a) 34.8 36.0 Total $ 96.8 $ 93.1 _______________________ (a) Post-employment benefits other than pensions included $0.8 million of SRCP benefits and $0.2 million of other long-term benefits as of December 31, 2020. As of December 31, 2019, $1.7 million of SRCP benefits and $0.2 million of other long-term benefits were included.
Schedule of supplemental disclosure of cash flow information	Supplemental Disclosure of Cash Flow Information Year Ended December 31, 2020 2019 2018 Cash paid during the year for interest, net of interest expense capitalized $ 12.3 $ 10.9 $ 11.9 Cash paid during the year for income taxes, net of refunds 3.6 13.3 7.6 Non-cash investing activities: Liability for equipment acquired 3.3 3.2 3.4
Schedule of net cash provided by (used in) changes in working capital, net of effect of acquisitions	Net Cash Provided by (Used in) Changes in Operating Working Capital, Net of Effect of Acquisitions Year Ended December 31, 2020 2019 2018 Accounts receivable $ 4.5 $ 11.6 $ (0.9) Inventories 15.7 8.2 3.8 Income taxes receivable/payable (1.4) (5.4) (1.8) Prepaid and other current assets (0.2) 2.4 (1.8) Accounts payable (3.6) (14.0) 0.3 Accrued expenses 3.2 (3.4) (0.6) Total $ 18.2 $ (0.6) $ (1.0)

Background and Basis of Prese_2

Background and Basis of Presentation - Background (Details)	12 Months Ended
	Dec. 31, 2020operation
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of primary operations	2

Background and Basis of Prese_3

Background and Basis of Presentation - Impacts of COVID-19 (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Restructuring Cost and Reserve [Line Items]
Impairment losses	$ 52.3	$ 54.8	$ 0	$ 31.1
Restructuring charges from idled assets		2.6	4.7	0
Severance costs	0.4	0.4	0	0
Change in valuation allowances		4.7	0.1	0
COVID-19 costs		3.5	$ 0	$ 0
COVID-19
Restructuring Cost and Reserve [Line Items]
Impairment losses		54.8
Severance costs		0.4
Change in valuation allowances		4.6
COVID-19 costs		3.5
Fine Paper Machine
Restructuring Cost and Reserve [Line Items]
Restructuring charges from idled assets	$ 2.6
Fine Paper Machine | COVID-19
Restructuring Cost and Reserve [Line Items]
Restructuring charges from idled assets		$ 2.6

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Revenue Recognition (Details)	12 Months Ended
	Dec. 31, 2020
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Payment discount	1.00%
Payment discount days available	20 days
Minimum
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Collection terms	45 days
Maximum
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Collection terms	55 days
International
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Extended collection terms	120 days
Fine Paper and Packaging | Minimum
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Collection terms	20 days
Payment discount	0.00%
Fine Paper and Packaging | Maximum
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Collection terms	30 days
Payment discount	2.00%

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Cash and Cash Equivalents (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Postretirement Benefits Other than Pensions
Cash and Cash Equivalents
Restricted cash and cash equivalent	$ 0.3	$ 0.1

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Property and Depreciation (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)
Property and Depreciation
Assets in which units-of-production method of depreciation is used	$ 29.4
Buildings
Property and Depreciation
Weighted average useful lives	17 years
Land improvements
Property and Depreciation
Weighted average useful lives	20 years
Machinery and equipment
Property and Depreciation
Weighted average useful lives	9 years

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Fair Value of Financial Instruments (Details) $ in Millions	Dec. 31, 2020USD ($)
Fair Value of Financial Instruments
Cost of marketable securities	$ 4.7
Fair Value | Other assets | Level 1
Fair Value of Financial Instruments
Fair value of marketable securities	$ 4.3

Summary of Significant Accoun_8

Summary of Significant Accounting Policies - Fair Value of Pension Plan Assets (Details) - Pension Benefits - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 464.4	$ 424.1	$ 375.2
Cash and money-market funds | Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	3.8	0.8
U.S. and Non-U.S. Equities
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets measured at NAV	144.1	122.5
U.S. and Non-U.S. Fixed Income Securities
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets measured at NAV	224.8	219.4
Hedge fund / Other
Defined Benefit Plan Disclosure [Line Items]
Pension plan assets measured at NAV	$ 31.6	$ 29.9

Summary of Significant Accoun_9

Summary of Significant Accounting Policies - Summary of the Changes in Level 3 Defined Benefit Plan Assets (Details) - Level 3 - W.A. Sanders Coldenhove Holding B.V. - Insurance Contracts Acquired in Business Combination - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation
Fair value of plan assets at beginning of year	$ 51.5	$ 45.1	$ 48.4
Attributable to Assets Held at December 31	5	7.5	(0.9)
Attributable to Assets Sold	0	0	0
Net Purchases/ (Settlements)	(1.5)	(0.2)	(0.3)
Transfers into/ (out of) Level 3	0	0	0
Foreign currency effects	5.1	(0.9)	(2.1)
Fair value of plan assets at end of year	$ 60.1	$ 51.5	$ 45.1

Summary of Significant Accou_10

Summary of Significant Accounting Policies - Acquisition-related Costs and Adjustments (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disposal Groups, Including Discontinued Operations
Transaction costs from acquisition not consummated	$ 1,500,000	$ 0
Coldenhove
Disposal Groups, Including Discontinued Operations
Transaction costs from acquisition not consummated			$ 3,900,000

Summary of Significant Accou_11

Summary of Significant Accounting Policies - Discontinued Operations (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Sep. 30, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disposal Groups
Loss from discontinued operations, net of income taxes		$ 0	$ 0	$ 0.8
Lahnstein Mill
Disposal Groups
Loss from discontinued operations, net of income taxes	$ 0.8

Earnings per Share ("EPS") - Na

Earnings per Share ("EPS") - Narrative (Details) - shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive options, excluded from the computation of dilutive common shares (in shares)	332,000	231,000	143,000
Dilutive Options and Performance Share Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive options, excluded from the computation of dilutive common shares (in shares)	20,576

Earnings per Share ("EPS") - Sc

Earnings per Share ("EPS") - Schedule of Earnings Per Share Calculations, Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Earnings per basic common share
Income (loss) from continuing operations	$ (15.8)	$ 55.4	$ 37.2
Amounts attributable to participating securities	(0.2)	(0.3)	(0.2)
Income (loss) from continuing operations available to common stockholders	(16)	55.1	37
Loss from discontinued operations, net of income taxes	0	0	(0.8)
Net income (loss) available to common stockholders	$ (16)	$ 55.1	$ 36.2
Weighted-average basic shares outstanding (in shares)	16,813	16,848	16,850
Continuing operations (in dollars per share)	$ (0.96)	$ 3.27	$ 2.20
Discontinued operations (in dollars per share)	0	0	(0.05)
Basic (in dollars per share)	$ (0.96)	$ 3.27	$ 2.15
Earnings per diluted common share
Income (loss) from continuing operations	$ (15.8)	$ 55.4	$ 37.2
Amounts attributable to participating securities	(0.2)	(0.3)	(0.4)
Income (loss) from continuing operations available to common stockholders	(16)	55.1	36.8
Loss from discontinued operations, net of income taxes	0	0	(0.8)
Net income (loss) available to common stockholders	$ (16)	$ 55.1	$ 36
Weighted-average basic shares outstanding (in shares)	16,813	16,848	16,850
Assumed incremental shares under stock-based compensation plans (in shares)	0	58	118
Weighted average diluted shares (in shares)	16,813	16,906	16,968
Continuing operations (in dollars per share)	$ (0.96)	$ 3.26	$ 2.17
Discontinued operations (in dollars per share)	0	0	(0.05)
Diluted (in dollars per share)	$ (0.96)	$ 3.26	$ 2.12

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Additional Information (Details) - USD ($)	3 Months Ended	11 Months Ended	12 Months Ended
	Jun. 30, 2020	Nov. 30, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Acquired Indefinite-lived Intangible Assets [Line Items]
Goodwill impairment		$ 0	$ 0	$ 0
Impairment of intangible assets				$ 0	$ 0
Disposal Group, Held-for-sale or Disposed of by Sale, Not Discontinued Operations | Brattleboro Mill and Associated Research and Office Facilities
Acquired Indefinite-lived Intangible Assets [Line Items]
Goodwill impairment					$ 100,000
Minimum
Acquired Indefinite-lived Intangible Assets [Line Items]
Intangible asset useful lives			10 years
Maximum
Acquired Indefinite-lived Intangible Assets [Line Items]
Intangible asset useful lives			15 years
Fine Paper And Packaging
Acquired Indefinite-lived Intangible Assets [Line Items]
Impairment of intangible assets	$ 900,000
Technical Products
Acquired Indefinite-lived Intangible Assets [Line Items]
Impairment of intangible assets	$ 400,000

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Changes in carrying value of goodwill (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Goodwill [Roll Forward]
Goodwill, net, beginning balance	$ 83.1	$ 84
Realignment of other segment		0
Foreign currency translation	4.3	(0.9)
Goodwill, net, ending balance	87.4	83.1
Technical Products
Goodwill [Roll Forward]
Goodwill gross, beginning balance	123.4	124.9
Accumulated impairment loss, beginning of period	(46.5)	(47.4)
Goodwill, net, beginning balance	76.9	77.5
Realignment of other segment, gross impact		0.4
Realignment of other segment, accumulated impairment		(0.1)
Realignment of other segment		0.3
Foreign currency translation gross impact	8.6	(1.9)
Foreign currency translation, accumulated impairment losses impact	(4.3)	1
Foreign currency translation	4.3	(0.9)
Goodwill gross, ending balance	132	123.4
Accumulated impairment loss, end of period	(50.8)	(46.5)
Goodwill, net, ending balance	81.2	76.9
Fine Paper and Packaging
Goodwill [Roll Forward]
Goodwill gross, beginning balance	6.2	6.2
Goodwill, net, beginning balance	6.2	6.2
Goodwill gross, ending balance	6.2	6.2
Goodwill, net, ending balance	6.2	6.2
Other
Goodwill [Roll Forward]
Goodwill gross, beginning balance	0	0.4
Accumulated impairment loss, beginning of period	0	(0.1)
Goodwill, net, beginning balance	0	0.3
Realignment of other segment, gross impact		(0.4)
Realignment of other segment, accumulated impairment		0.1
Realignment of other segment		(0.3)
Goodwill gross, ending balance	0	0
Accumulated impairment loss, end of period	0	0
Goodwill, net, ending balance	$ 0	$ 0

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Other intangible assets (Details) - USD ($)	11 Months Ended	12 Months Ended
	Nov. 30, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Finite Lived and Indefinite Live Intangible Assets by Major Class [Line Items]
Net identifiable intangible assets		$ 62,600,000	$ 66,700,000
Amortizable intangible assets, gross amount		62,100,000	60,200,000
Accumulated amortization		(36,400,000)	(31,100,000)
Non-amortizable trade names, gross amount		36,900,000	37,600,000
Total gross intangible assets		99,000,000	97,800,000
Impairment of indefinite lived intangible assets	$ 0	1,300,000
Estimated annual amortization expense
2021		3,600,000
2022		2,900,000
2023		2,800,000
2024		2,800,000
2025		2,800,000
Selling, General and Administrative Expenses
Finite Lived and Indefinite Live Intangible Assets by Major Class [Line Items]
Aggregate amortization expense of acquired intangible assets		3,700,000	3,900,000	$ 4,300,000
Customer based intangibles
Finite Lived and Indefinite Live Intangible Assets by Major Class [Line Items]
Amortizable intangible assets, gross amount		39,600,000	38,200,000
Accumulated amortization		(24,000,000)	(20,400,000)
Trade names and trademarks
Finite Lived and Indefinite Live Intangible Assets by Major Class [Line Items]
Amortizable intangible assets, gross amount		5,200,000	5,100,000
Accumulated amortization		(3,100,000)	(2,700,000)
Acquired technology
Finite Lived and Indefinite Live Intangible Assets by Major Class [Line Items]
Amortizable intangible assets, gross amount		17,300,000	16,900,000
Accumulated amortization		(9,300,000)	$ (8,000,000)
Technical Products
Finite Lived and Indefinite Live Intangible Assets by Major Class [Line Items]
Net identifiable intangible assets		40,500,000
Fine Paper and Packaging
Finite Lived and Indefinite Live Intangible Assets by Major Class [Line Items]
Net identifiable intangible assets		$ 22,100,000

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Dec. 31, 2020	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Tax Credit Carryforward [Line Items]
Effective income tax rate			15.50%	16.70%	9.50%
Asset restructuring and impairment costs		$ 55.3	$ 57.8	$ 4.7	$ 31.1
Impairment loss			54.8	$ 0	31.1
Measurement period tax benefit adjustment					0.9
Income tax benefit related to tax cuts and jobs act					6.6
Tax benefit from Tax Act rate changes					11.2
Transition tax for accumulated foreign earnings, income tax expense (benefit)					4.6
Income tax benefit for tax refunds, CARES Act	$ 0.9
Income tax receivable, CARES Act	8		8
Deferred payroll taxes, CARES Act	$ 4.4		$ 4.4
Retained Earnings
Tax Credit Carryforward [Line Items]
Reclassification of the stranded tax effects related to the Tax Act					(0.8)
Disposal Group, Held-for-sale or Disposed of by Sale, Not Discontinued Operations | Brattleboro Mill and Associated Research and Office Facilities
Tax Credit Carryforward [Line Items]
Impairment loss					$ 31.1

Income Taxes - Effective Tax Ra

Income Taxes - Effective Tax Rate Reconciliation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Difference between the effective income tax provision rate and the U.S. federal statutory income tax provision rate
U.S. federal statutory income tax rate	21.00%	21.00%	21.00%
U.S. state income taxes, net of federal income tax benefit	10.20%	1.40%	(1.00%)
Foreign tax rate differences	(15.00%)	3.60%	6.80%
Foreign financing structure	11.20%	(3.00%)	(5.10%)
U.S. Tax on foreign dividends	(0.043)	0.009	0.036
Research and development and other tax credits	15.50%	(6.20%)	(10.50%)
Benefit of CARES Act NOL carryback	4.80%	0.00%	0.00%
Change in valuation allowances	(25.20%)	0.20%	0.00%
Change in reserves for uncertain tax positions	3.70%	(1.90%)	2.00%
Change in statutory tax rates	0.00%	0.00%	(3.90%)
Excess tax benefits from stock compensation	(1.10%)	(0.20%)	(2.90%)
Other differences, net	(5.30%)	0.90%	(0.50%)
Effective income tax rate	15.50%	16.70%	9.50%
Difference between the effective income tax provision and the U.S. federal statutory income tax provision
U.S. federal statutory income tax rate	$ (3.9)	$ 14	$ 8.6
U.S. state income taxes, net of federal income tax benefit	(1.9)	0.9	(0.4)
Foreign tax rate differences	2.8	2.4	2.8
Foreign financing structure	(2.1)	(2)	(2.1)
U.S. Tax on foreign dividends	0.8	0.6	1.5
Research and development and other tax credits	(2.9)	(4.1)	(4.3)
Benefit of CARES Act NOL carryback	(0.9)	0	0
Change in valuation allowances	4.7	0.1	0
Change in reserves for uncertain tax positions	(0.7)	(1.3)	0.8
Change in statutory tax rate, amount	0	0	(1.6)
Excess tax benefits from stock compensation	0.2	(0.1)	(1.2)
Other differences, net	1	0.6	(0.2)
Total provision (benefit) for income taxes	(2.9)	$ 11.1	3.9
Benefit from tax rate change and other factors, CARES Act	5
Impact from GILTI provisions, CARES Act	3
Increase in reserve for uncertain income tax positions, CARES Act	1.1
Measurement period tax benefit adjustment			0.9
COVID-19
Difference between the effective income tax provision and the U.S. federal statutory income tax provision
Change in valuation allowances	$ 4.6
Retained Earnings
Difference between the effective income tax provision and the U.S. federal statutory income tax provision
Reclassification of the stranded tax effects related to the Tax Act			(0.8)
Netherlands
Difference between the effective income tax provision and the U.S. federal statutory income tax provision
Change in statutory tax rate, amount			$ 0.7

Income Taxes - U.S. and Foreign

Income Taxes - U.S. and Foreign Components (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income (loss) from continuing operations before income taxes:
U.S.	$ (55.6)	$ 30.1	$ (1.7)
Foreign	36.9	36.4	42.8
Total	(18.7)	66.5	41.1
Current:
Federal	(8.1)	0.3	(3)
State	0.3	(0.2)	0.1
Foreign	9.8	7.6	8.7
Total current income tax provision	2	7.7	5.8
Deferred:
Federal	(6.5)	3	(0.6)
State	2.5	0.8	(0.2)
Foreign	(0.9)	(0.4)	(1.1)
Total deferred income tax provision	(4.9)	3.4	(1.9)
Total provision (benefit) for income taxes	$ (2.9)	$ 11.1	$ 3.9

Income Taxes - Deferred Tax Ass

Income Taxes - Deferred Tax Asset/Liability and NOLs (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Deferred income tax assets (liabilities)
Net deferred income tax assets	$ 18.3	$ 13.4
Deferred income tax assets (liabilities)
Net deferred income tax liabilities	(12.3)	(12.9)
NOLs
Deferred tax asset related to net operating losses	4.4
Pre-acquisition built-in loss carryforward	7.6
Pre-acquisition built-in carryovers, deferred tax asset	1.6
Undistributed earnings of foreign subsidiaries	66.5		$ 48.8
Domestic Tax Authority
Deferred income tax assets (liabilities)
Research and development tax credits	27.5	21.5
Employee benefits	15.6	15.9
Net operating losses and other tax credits	3.7	6.4
Lease liabilities	4.6	3.1
Accrued liabilities	1.4	2.1
Inventories	0	(0.6)
Lease right-of-use assets	(4.3)	(2.8)
Intangibles	(4.7)	(4.7)
Property, plant and equipment	(26.7)	(28)
Other	1.2	0.5
Net deferred income tax assets	18.3	13.4
Deferred income tax assets (liabilities)
Property, plant and equipment	(26.7)	(28)
Intangibles	(4.7)	(4.7)
Inventories	0	(0.6)
Lease right-of-use assets	(4.3)	(2.8)
Lease liabilities	4.6	3.1
Employee benefits	15.6	15.9
Domestic Tax Authority | Change in Accounting Method Accounted for as Change in Estimate
Deferred income tax assets (liabilities)
Inventories	(0.6)
Property, plant and equipment	(3.5)
Deferred income tax assets (liabilities)
Property, plant and equipment	(3.5)
Inventories	(0.6)
Foreign Tax Authority
Deferred income tax assets (liabilities)
Employee benefits	9.5	7.5
Lease liabilities	0.9	0.7
Inventories	(0.8)	(0.9)
Lease right-of-use assets	(0.9)	(0.7)
Intangibles	(3)	(3)
Property, plant and equipment	(16.8)	(16.7)
Deferred income tax assets (liabilities)
Property, plant and equipment	(16.8)	(16.7)
Intangibles	(3)	(3)
Inventories	(0.8)	(0.9)
Lease right-of-use assets	(0.9)	(0.7)
Net operating losses	0.2	0.2
Lease liabilities	0.9	0.7
Employee benefits	9.5	7.5
Other	(1.4)	0
Net deferred income tax liabilities	(12.3)	$ (12.9)
State and Local Jurisdiction
NOLs
Net operating losses	71.8
Research Tax Credit Carryforward | Domestic Tax Authority
NOLs
R & D credits subject to expiration	28.2
Research Tax Credit Carryforward | State and Local Jurisdiction
NOLs
R & D credits subject to expiration	$ 7.4

Income Taxes - Uncertain Tax Po

Income Taxes - Uncertain Tax Positions (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Reconciliation of the total amounts of uncertain tax positions
Balance at beginning of year	$ 7.8	$ 10.1	$ 10
Increases in prior period tax positions	1.1	0.7	0.1
Decreases in prior period tax positions	(0.2)	(1.2)	0
Increases in current period tax positions	0.6	0.6	0.8
Decreases due to lapse of statutes of limitations	(1.3)	(1.5)	(0.6)
Increases due to change in tax rates	0	0	0.1
Decreases due to settlements with tax authorities	0	(0.9)	(0.2)
Increases from foreign exchange rate changes	0
Decreases from foreign exchange rate changes		0	(0.1)
Balance at end of year	8	7.8	10.1
Benefit for uncertain tax positions, if recognized	6.1
Accrued for interest and penalties related to uncertain income tax positions	0.1	0.1
Operating loss carryfowards, valuation allowance	5.1	0.5
Deferred Tax Asset
Reconciliation of the total amounts of uncertain tax positions
Balance at beginning of year	7.3	7.9
Balance at end of year	7.7	7.3	7.9
Other Noncurrent Liabilities
Reconciliation of the total amounts of uncertain tax positions
Balance at beginning of year		2.2
Balance at end of year	0.3		$ 2.2
Deferred Tax Liability
Reconciliation of the total amounts of uncertain tax positions
Balance at beginning of year	0.5
Balance at end of year		0.5
Foreign Tax Authority
Reconciliation of the total amounts of uncertain tax positions
Foreign tax credits set to expire	5.3	5.2
State and Local Jurisdiction
Reconciliation of the total amounts of uncertain tax positions
Operating loss carryfowards, valuation allowance	$ 6.4	$ 0.7

Debt - Schedule of Long-term De

Debt - Schedule of Long-term Debt (Details) € in Millions, $ in Millions	Dec. 31, 2020USD ($)	Dec. 31, 2020EUR (€)	Dec. 31, 2019USD ($)	May 31, 2013
Debt Instrument [Line Items]
Total debt	$ 194.4		$ 200.8
Deferred financing costs	(9.6)		(3)
Less: Debt payable within one year	4.9		2.6
Long-term debt	189.5		198.2
Line of credit | Term Loan B Credit Facility (variable rates) due June 2027
Debt Instrument [Line Items]
Total debt	$ 199		0
Senior notes | 2021 Senior Notes (5.25% fixed rate) due May 2021
Debt Instrument [Line Items]
Fixed rate of interest	5.25%	5.25%		5.25%
Total debt	$ 0		175
Secured debt | Global Revolving Credit Facility (variable rates) due December 2023
Debt Instrument [Line Items]
Total debt	$ 0		21.6
Secured debt | Second German Loan Agreement (2.45% fixed rate) due in quarterly installments ending September 2022
Debt Instrument [Line Items]
Fixed rate of interest	2.45%	2.45%
Total debt	$ 2.4	€ 2	3.5
Secured debt | Third German Loan Agreement (1.45% fixed rate)
Debt Instrument [Line Items]
Fixed rate of interest	1.45%	1.45%
Total debt	$ 2.6	€ 2.1	$ 3.7

Debt - Narrative (Details)

Debt - Narrative (Details)	Jun. 30, 2020USD ($)	May 31, 2013USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2020EUR (€)	Jun. 29, 2020USD ($)	May 31, 2018EUR (€)	Jan. 31, 2013EUR (€)
Debt Instrument [Line Items]
Loss on debt extinguishment				$ 1,900,000	$ 0	$ 0
Borrowings outstanding				194,400,000	200,800,000
U.S. Revolving Credit Facility | Letter of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity				20,000,000
German Revolving Credit Facility | Letter of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity				$ 5,000,000
Senior notes | 2021 Senior Notes (5.25% fixed rate) due May 2021
Debt Instrument [Line Items]
Term of instrument		8 years
Face amount		$ 175,000,000
Fixed rate of interest		5.25%		5.25%			5.25%
Loss on debt extinguishment	$ 1,900,000
Borrowings outstanding				$ 0	$ 175,000,000
Secured debt | Letter of Credit
Debt Instrument [Line Items]
Borrowings outstanding				300,000
Secured debt | U.S. Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity				150,000,000
Secured debt | German Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity				$ 75,000,000
Secured debt | Global Revolving Credit Facility (variable rates) due December 2023
Debt Instrument [Line Items]
Weighted-average interest rate				1.30%	1.30%		1.30%
Maximum borrowing capacity				$ 350,000,000
Maximum borrowing capacity that may be increased				$ 125,000,000
Facility fee on unused amount of revolver commitment				0.25%
Fixed charge coverage ratio required				1.1
Period to be maintained for stock repurchase or dividend payment				60 days
Period to be maintained for available borrowing capacity				60 days
Borrowing availability to determine stock repurchases and dividend payments				$ 20,000,000
Percentage of aggregate commitments to determine the stock repurchases and dividend payments				12.50%
Borrowings outstanding				$ 0
Available credit				138,600,000
Borrowings outstanding				$ 0	$ 21,600,000
Secured debt | Global Revolving Credit Facility (variable rates) due December 2023 | Minimum
Debt Instrument [Line Items]
Reference rate				0.00%
Borrowing availability for not achieving the fixed charge coverage ratio				$ 25,000,000
Percentage of aggregate commitments for not maintaining fixed charge coverage ratio				17.50%
Secured debt | Global Revolving Credit Facility (variable rates) due December 2023 | Maximum
Debt Instrument [Line Items]
Borrowing availability for not achieving the fixed charge coverage ratio				$ 15,000,000
Percentage of aggregate commitments for not maintaining fixed charge coverage ratio				10.00%
Secured debt | Fourth Amended and Restated Credit Agreement
Debt Instrument [Line Items]
Borrowing availability to determine stock repurchases and dividend payments				$ 22,000,000
Percentage of aggregate commitments to determine the stock repurchases and dividend payments				12.50%
Secured debt | Fourth Amended and Restated Credit Agreement | Minimum
Debt Instrument [Line Items]
Borrowing availability to determine stock repurchases and dividend payments				$ 20,000,000
Secured debt | Second German Loan Agreement (2.45% fixed rate) due in quarterly installments ending September 2022
Debt Instrument [Line Items]
Fixed rate of interest				2.45%			2.45%
Maximum borrowing capacity | €										€ 9,000,000
Borrowings outstanding				$ 2,400,000	3,500,000		€ 2,000,000
Secured debt | Third German Loan Agreement (1.45% fixed rate)
Debt Instrument [Line Items]
Face amount | €									€ 5,000,000
Fixed rate of interest				1.45%			1.45%
Borrowings outstanding				$ 2,600,000	3,700,000		€ 2,100,000
Proceeds from German government subsidy			$ 900,000
Line of credit | Term Loan B Credit Facility (variable rates) due June 2027
Debt Instrument [Line Items]
Borrowings outstanding				$ 199,000,000	$ 0
Line of credit | Term Loan B Credit Facility (variable rates) due June 2027 | Term B Facility
Debt Instrument [Line Items]
Term of instrument	7 years
Face amount	$ 200,000,000
Proceeds from borrowings	200,000,000
Additional borrowing capacity (up to)	125,000,000
Weighted-average interest rate				5.00%			5.00%
Aggregate annual payments as percentage of original principal amount				1.00%
Dividends included in excess cashflow calculation	8,750,000			$ 8,750,000
Line of credit | Term Loan B Credit Facility (variable rates) due June 2027 | Term B Facility | Leverage Ratio exceeds 2.50 but is less than or equal to 3.5
Debt Instrument [Line Items]
Dividends included in excess cashflow calculation	8,750,000
Dividends included in excess cashflow and redemptions or prepayments of debt, maximum amount of tangible assets	$ 65,000,000
Dividends included in excess cashflow and redemptions or prepayments of debt, maximum percent of tangible assets	9.00%
Line of credit | Term Loan B Credit Facility (variable rates) due June 2027 | Minimum | Term B Facility
Debt Instrument [Line Items]
Secured leverage ratio levels				150.00%
Line of credit | Term Loan B Credit Facility (variable rates) due June 2027 | Minimum | Term B Facility | Leverage Ratio exceeds 2.50 but is less than or equal to 3.5
Debt Instrument [Line Items]
Secured leverage ratio levels	250.00%
Line of credit | Term Loan B Credit Facility (variable rates) due June 2027 | Maximum | Term B Facility
Debt Instrument [Line Items]
Secured leverage ratio levels				250.00%
Line of credit | Term Loan B Credit Facility (variable rates) due June 2027 | Maximum | Term B Facility | Leverage Ratio does not exceed 2.5
Debt Instrument [Line Items]
Secured leverage ratio levels	250.00%
Line of credit | Term Loan B Credit Facility (variable rates) due June 2027 | Maximum | Term B Facility | Leverage Ratio exceeds 2.50 but is less than or equal to 3.5
Debt Instrument [Line Items]
Secured leverage ratio levels	350.00%
Line of credit | U.S. Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 125,000,000							$ 150,000,000
Line of credit | German Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 50,000,000							$ 75,000,000
LIBOR | U.S. Revolving Credit Facility | Minimum
Debt Instrument [Line Items]
Debt instrument basis spread on variable rate				0.00%
LIBOR | U.S. Revolving Credit Facility | Maximum
Debt Instrument [Line Items]
Debt instrument basis spread on variable rate				0.25%
LIBOR | German Revolving Credit Facility | Minimum
Debt Instrument [Line Items]
Debt instrument basis spread on variable rate				1.25%
LIBOR | German Revolving Credit Facility | Maximum
Debt Instrument [Line Items]
Debt instrument basis spread on variable rate				1.75%
LIBOR | Secured debt | German Revolving Credit Facility | Minimum
Debt Instrument [Line Items]
Debt instrument basis spread on variable rate				1.25%
LIBOR | Secured debt | German Revolving Credit Facility | Maximum
Debt Instrument [Line Items]
Debt instrument basis spread on variable rate				1.75%
LIBOR | Line of credit | Term Loan B Credit Facility (variable rates) due June 2027 | Term B Facility
Debt Instrument [Line Items]
Debt instrument basis spread on variable rate	4.00%
LIBOR | Line of credit | Term Loan B Credit Facility (variable rates) due June 2027 | Minimum | Term B Facility
Debt Instrument [Line Items]
Debt instrument basis spread on variable rate	1.00%
Base Rate | Line of credit | Term Loan B Credit Facility (variable rates) due June 2027 | Term B Facility
Debt Instrument [Line Items]
Debt instrument basis spread on variable rate	2.00%
Base Rate | Line of credit | Term Loan B Credit Facility (variable rates) due June 2027 | Minimum | Term B Facility
Debt Instrument [Line Items]
Debt instrument basis spread on variable rate	2.00%
Overnight Bank Funding Rate, Federal Reserve Bank Of New York | Line of credit | Term Loan B Credit Facility (variable rates) due June 2027 | Term B Facility
Debt Instrument [Line Items]
Debt instrument basis spread on variable rate	0.50%
One-month Reserve-adjusted LIBOR | Line of credit | Term Loan B Credit Facility (variable rates) due June 2027 | Term B Facility
Debt Instrument [Line Items]
Debt instrument basis spread on variable rate	1.00%

Debt - Schedule of Term Loan Re

Debt - Schedule of Term Loan Repayments (Details) - Term B Facility - Line of credit - Term Loan B Credit Facility (variable rates) due June 2027	Jun. 30, 2020	Dec. 31, 2020
Minimum
Debt Instrument [Line Items]
Secured leverage ratio levels		150.00%
Maximum
Debt Instrument [Line Items]
Secured leverage ratio levels		250.00%
Leverage Ratio 1.50 to 2.50
Debt Instrument [Line Items]
Mandatory prepayments		25.00%
Leverage Ratio 1.50 to 2.50 | Maximum
Debt Instrument [Line Items]
Secured leverage ratio levels	250.00%
Leverage Ratio 2.50
Debt Instrument [Line Items]
Mandatory prepayments		50.00%
Leverage Ratio 2.50 | Minimum
Debt Instrument [Line Items]
Secured leverage ratio levels	250.00%
Leverage Ratio 2.50 | Maximum
Debt Instrument [Line Items]
Secured leverage ratio levels	350.00%

Debt - Summary of Variable Rate

Debt - Summary of Variable Rates (Details)	12 Months Ended
	Dec. 31, 2020
Prime rate | U.S. Revolving Credit Facility | Minimum
Line of Credit Facility [Line Items]
Debt instrument basis spread on variable rate	0.00%
Prime rate | U.S. Revolving Credit Facility | Maximum
Line of Credit Facility [Line Items]
Debt instrument basis spread on variable rate	0.25%
Federal funds rate | U.S. Revolving Credit Facility
Line of Credit Facility [Line Items]
Debt instrument, basis spread alternate borrowing rate	0.50%
Federal funds rate | U.S. Revolving Credit Facility | Minimum
Line of Credit Facility [Line Items]
Debt instrument basis spread on variable rate	0.00%
Federal funds rate | U.S. Revolving Credit Facility | Maximum
Line of Credit Facility [Line Items]
Debt instrument basis spread on variable rate	0.25%
LIBOR | U.S. Revolving Credit Facility
Line of Credit Facility [Line Items]
Debt instrument, basis spread alternate borrowing rate	1.00%
Debt instrument, alternate borrowing rate floor	0.00%
LIBOR | U.S. Revolving Credit Facility | Minimum
Line of Credit Facility [Line Items]
Debt instrument basis spread on variable rate	0.00%
LIBOR | U.S. Revolving Credit Facility | Maximum
Line of Credit Facility [Line Items]
Debt instrument basis spread on variable rate	0.25%
LIBOR | German Revolving Credit Facility
Line of Credit Facility [Line Items]
Debt instrument, alternate borrowing rate floor	0.00%
LIBOR | German Revolving Credit Facility | Minimum
Line of Credit Facility [Line Items]
Debt instrument basis spread on variable rate	1.25%
LIBOR | German Revolving Credit Facility | Maximum
Line of Credit Facility [Line Items]
Debt instrument basis spread on variable rate	1.75%

Debt - Principal Payments (Deta

Debt - Principal Payments (Details) $ in Millions	Dec. 31, 2020USD ($)
Debt payments
2021	$ 4.9
2022	4.1
2023	2
2024	2
2025	2
Thereafter	189
Total	$ 204

Pension and Other Postretirem_3

Pension and Other Postretirement Benefits - Narrative (Details)	Jul. 01, 2018USD ($)	Nov. 30, 2019employee	Dec. 31, 2018USD ($)employee	Jun. 30, 2018USD ($)	Dec. 31, 2020USD ($)employee	Dec. 31, 2019USD ($)	Dec. 31, 2020USD ($)employee	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)employee	Oct. 31, 2019USD ($)
Defined Benefit Plan Disclosure [Line Items]
Funded status decrease from prior year							$ 8,800,000	$ 2,800,000
Number of hourly employees | employee		30	375						375
Number of regular full-time employees | employee		115	690		2,239		2,239		690
Threshold period of service for participation in new pension plan		25 years	25 years
Aggregate contributions to qualified and non-qualified pension trusts and payments of pension benefits for unfunded pension plans					$ 12,000,000		$ 12,000,000
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Amount of settlement loss recognized							300,000	100,000	$ 800,000
Payment for pension and other postretirement benefits							1,200,000	500,000	2,200,000
Assets for plan benefits, defined benefit plan					2,500,000		2,500,000
Curtailment gain							$ 0	$ 1,600,000	$ 0
Expected long-term return on plan assets							5.42%	5.91%	5.78%
Amount of plan assets invested in the entity's securities			$ 0		0	$ 0	$ 0	$ 0	$ 0
Pension Benefits | Maximum
Defined Benefit Plan Disclosure [Line Items]
Expected long-term return on plan assets							6.00%
Pension Benefits | Minimum
Defined Benefit Plan Disclosure [Line Items]
Expected long-term return on plan assets							5.00%
Defined contribution retirement plans
Defined Benefit Plan Disclosure [Line Items]
Defined contribution plan, cost							$ 1,800,000	2,000,000	2,300,000
Supplemental retirement contribution plan
Defined Benefit Plan Disclosure [Line Items]
Defined contribution plan, cost							400,000	400,000	0
Unfunded obligation					$ 2,000,000	1,700,000	2,000,000	1,700,000
Voluntary contribution investment plans
Defined Benefit Plan Disclosure [Line Items]
Defined contribution plan, cost							$ 4,600,000	4,700,000	4,000,000
Equity securities
Defined Benefit Plan Disclosure [Line Items]
Asset allocation					33.00%		33.00%
Equity securities | Maximum
Defined Benefit Plan Disclosure [Line Items]
Expected long-term return on plan assets							10.00%
Equity securities | Minimum
Defined Benefit Plan Disclosure [Line Items]
Expected long-term return on plan assets							8.00%
Equity securities | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Asset allocation					33.00%		33.00%
Equity securities | Pension Benefits | Maximum
Defined Benefit Plan Disclosure [Line Items]
Asset allocation					38.00%		38.00%
Equity securities | Pension Benefits | Minimum
Defined Benefit Plan Disclosure [Line Items]
Asset allocation					28.00%		28.00%
Hedge fund / Other
Defined Benefit Plan Disclosure [Line Items]
Asset allocation					8.00%		8.00%
Hedge fund / Other | Maximum
Defined Benefit Plan Disclosure [Line Items]
Expected long-term return on plan assets							7.00%
Hedge fund / Other | Minimum
Defined Benefit Plan Disclosure [Line Items]
Expected long-term return on plan assets							5.00%
Hedge fund / Other | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Asset allocation					8.00%		8.00%
Hedge fund / Other | Pension Benefits | Maximum
Defined Benefit Plan Disclosure [Line Items]
Asset allocation					13.00%		13.00%
Hedge fund / Other | Pension Benefits | Minimum
Defined Benefit Plan Disclosure [Line Items]
Asset allocation					3.00%		3.00%
U.S. and Non-U.S. Fixed Income Securities
Defined Benefit Plan Disclosure [Line Items]
Asset allocation					59.00%		59.00%
U.S. and Non-U.S. Fixed Income Securities | Maximum
Defined Benefit Plan Disclosure [Line Items]
Expected long-term return on plan assets							5.00%
U.S. and Non-U.S. Fixed Income Securities | Minimum
Defined Benefit Plan Disclosure [Line Items]
Expected long-term return on plan assets							3.00%
U.S. and Non-U.S. Fixed Income Securities | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Asset allocation					59.00%		59.00%
U.S. and Non-U.S. Fixed Income Securities | Pension Benefits | Maximum
Defined Benefit Plan Disclosure [Line Items]
Asset allocation					64.00%		64.00%
U.S. and Non-U.S. Fixed Income Securities | Pension Benefits | Minimum
Defined Benefit Plan Disclosure [Line Items]
Asset allocation					54.00%		54.00%
Prepaid Expenses and Other Current Assets | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Assets for plan benefits, defined benefit plan					$ 700,000		$ 700,000
Other assets | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Assets for plan benefits, defined benefit plan					1,800,000		1,800,000
Level 1 | Other assets | Fair Value
Defined Benefit Plan Disclosure [Line Items]
Fair value of marketable securities					4,300,000		$ 4,300,000
Pace Industry Union-Management Pension Fund
Defined Benefit Plan Disclosure [Line Items]
Multiemployer plans withdrawal obligation				$ 1,000,000						$ 1,000,000
Multiemployer plans minimum contribution	$ 100,000
Multiemployer plans minimum contribution period				20 years
Multiemployer pension plan expense (less than)									$ 100,000
Matching contribution (less than)									5.00%
Multiemployer plans accumulated funding deficiency demand										$ 1,300,000
Multiemployer plans, accumulated funding deficiency, settlement amount					$ 1,200,000
Risk Free Interest Rate | Pace Industry Union-Management Pension Fund
Defined Benefit Plan Disclosure [Line Items]
Multiemployer plans withdrawal obligation measurement input				0.057
Netherlands | Dutch Defined Benefit Plan | Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Curtailment gain						$ 1,600,000		$ 1,600,000

Pension and Other Postretirem_4

Pension and Other Postretirement Benefits - Benefit Plan Obligations, Plan Assets, Funded Status, and Net Liability Information (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2020	Dec. 31, 2019
Amounts recognized in statement of financial position consist of:
Noncurrent liabilities					$ (96.8)	$ (93.1)
Pension Benefits
Change in Benefit Obligation:
Benefit obligation at beginning of year		$ 482.4	$ 430.7
Service cost		4.6	5	$ 6.7
Interest cost		14.1	16.2	15.8
Currency		9.7	(1.2)
Actuarial (gain) loss		44.6	55
Benefit payments from plans		(22.3)	(21.1)
Plan curtailment		0	(2.8)
Settlement payments		(1.6)	(0.5)
Other		0	1.1
Benefit obligation at end of year	$ 482.4	531.5	482.4	430.7
Change in Plan Assets:
Fair value of plan assets at beginning of year		424.1	375.2
Actual gain (loss) on plan assets		51.9	62.1
Employer contributions		6.8	8.3
Currency		5.5	(0.5)
Benefit payments		(22.3)	(21.1)
Settlement payments		(1.6)	(0.5)
Other		0	0.6
Fair value of plan assets at end of year	424.1	464.4	424.1	375.2
Reconciliation of Funded Status
Fair value of plan assets	424.1	464.4	424.1	375.2	464.4	424.1
Projected benefit obligation	482.4	482.4	482.4	430.7	531.5	482.4
Net liability recognized in statement of financial position					(67.1)	(58.3)
Amounts recognized in statement of financial position consist of:
Current liabilities					(5.1)	(1.2)
Noncurrent liabilities					(62)	(57.1)
Net amount recognized					(67.1)	(58.3)
Curtailment gain		0	1.6	0
Postretirement Benefits Other than Pensions
Change in Benefit Obligation:
Benefit obligation at beginning of year		39.7	42.4
Service cost		1	1.2	1.1
Interest cost		1	1.5	1.4
Currency		0.3	0.1
Actuarial (gain) loss		2.5	(0.7)
Benefit payments from plans		(4.7)	(4.8)
Plan curtailment		0	0
Settlement payments		0	0
Other		0	0
Benefit obligation at end of year	39.7	39.8	39.7	42.4
Change in Plan Assets:
Fair value of plan assets at beginning of year		0	0
Actual gain (loss) on plan assets		0	0
Employer contributions		0	0
Currency		0	0
Benefit payments		0	0
Settlement payments		0	0
Other		0	0
Fair value of plan assets at end of year	0	0	0	0
Reconciliation of Funded Status
Fair value of plan assets	0	0	0	0	0	0
Projected benefit obligation	39.7	39.7	39.7	42.4	39.8	39.7
Net liability recognized in statement of financial position					(39.8)	(39.7)
Amounts recognized in statement of financial position consist of:
Current liabilities					(6)	(5.6)
Noncurrent liabilities					(33.8)	(34.1)
Net amount recognized					$ (39.8)	$ (39.7)
Curtailment gain		$ 0	0	$ 0
Netherlands | Dutch Defined Benefit Plan | Pension Benefits
Amounts recognized in statement of financial position consist of:
Curtailment gain	$ 1.6		$ 1.6

Pension and Other Postretirem_5

Pension and Other Postretirement Benefits - Amounts Recognized in AOCI and Disaggregated Information (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plan Disclosure [Line Items]
Total recognized in AOCI	$ 102	$ 94.3
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Accumulated actuarial loss	126.8	117.8
Prior service cost	0.6	0.9
Total recognized in AOCI	127.4	118.7
Assets Exceed ABO
Projected benefit obligation	0	0
Accumulated benefit obligation	0	0
Fair value of plan assets	0	0
ABO Exceed Assets
Projected benefit obligation	531.5	482.4
Accumulated benefit obligation	527.9	478.3
Fair value of plan assets	464.4	424.1
Total
Projected benefit obligation	531.5	482.4	$ 430.7
Accumulated benefit obligation	527.9	478.3
Fair value of plan assets	464.4	424.1	375.2
Postretirement Benefits Other than Pensions
Defined Benefit Plan Disclosure [Line Items]
Accumulated actuarial loss	8.8	7.2
Prior service cost	0	0
Total recognized in AOCI	8.8	7.2
Total
Projected benefit obligation	39.8	39.7	42.4
Fair value of plan assets	$ 0	$ 0	$ 0

Pension and Other Postretirem_6

Pension and Other Postretirement Benefits - Components of Net Periodic Benefit Cost (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 4.6	$ 5	$ 6.7
Interest cost	14.1	16.2	15.8
Expected return on plan assets	(20.7)	(21.1)	(21)
Recognized net actuarial loss	5.4	4.9	5.2
Amortization of prior service cost (credit)	0.3	0.2	0.2
Curtailment gain	0	(1.6)	0
Amount of settlement loss recognized	0.3	0.1	0.8
Net periodic benefit cost	4	3.7	7.7
Postretirement Benefits Other than Pensions
Defined Benefit Plan Disclosure [Line Items]
Service cost	1	1.2	1.1
Interest cost	1	1.5	1.4
Expected return on plan assets	0	0	0
Recognized net actuarial loss	0.9	0.9	0.8
Amortization of prior service cost (credit)	0	0	(0.2)
Curtailment gain	0	0	0
Amount of settlement loss recognized	0	0	0
Net periodic benefit cost	$ 2.9	$ 3.6	$ 3.1

Pension and Other Postretirem_7

Pension and Other Postretirement Benefits - Other Changes in Plan Assets and Benefit Obligations Recognized in OCI (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Net periodic benefit expense	$ 4	$ 3.7	$ 7.7
Accumulated actuarial gain (loss)	9	7.7	4.2
Prior service cost (credit)	(0.3)	0.2	(0.1)
Total recognized in other comprehensive income (loss)	8.7	7.9	4.1
Total recognized in net periodic benefit cost and other comprehensive income (loss)	12.7	11.6	11.8
Postretirement Benefits Other than Pensions
Defined Benefit Plan Disclosure [Line Items]
Net periodic benefit expense	2.9	3.6	3.1
Accumulated actuarial gain (loss)	1.6	(1.5)	0.1
Prior service cost (credit)	0	0	0.2
Total recognized in other comprehensive income (loss)	1.6	(1.5)	0.3
Total recognized in net periodic benefit cost and other comprehensive income (loss)	$ 4.5	$ 2.1	$ 3.4

Pension and Other Postretirem_8

Pension and Other Postretirement Benefits - Weighted-Average Assumptions Used to Determine Benefit Obligations (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Pension Benefits
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract]
Discount rate	2.28%	2.98%
Rate of compensation increase	1.54%	2.05%
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract]
Discount rate	2.98%	3.78%	3.65%
Expected long-term return on plan assets	5.42%	5.91%	5.78%
Rate of compensation increase	2.05%	2.33%	2.44%
Postretirement Benefits Other than Pensions
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract]
Discount rate	1.67%	2.68%
Rate of compensation increase	0.00%	0.00%
Initial healthcare cost trend rate	5.25%	6.10%
Ultimate healthcare cost trend rate	4.00%	4.50%
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract]
Discount rate	2.68%	3.84%	3.42%
Expected long-term return on plan assets	0.00%	0.00%	0.00%
Rate of compensation increase	2.50%	2.50%	2.50%
Initial healthcare cost trend rate	6.10%	6.50%	6.80%
Ultimate healthcare cost trend rate	4.50%	4.50%	4.50%

Pension and Other Postretirem_9

Pension and Other Postretirement Benefits - Pension Plan Assets Allocation (Details)	Dec. 31, 2020	Dec. 31, 2019
Equity securities
Target investment allocation and permissible allocation range for plan assets
Strategic target	33.00%
Hedge fund / Other
Target investment allocation and permissible allocation range for plan assets
Strategic target	8.00%
Debt securities / Fixed Income
Target investment allocation and permissible allocation range for plan assets
Strategic target	59.00%
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Percentage of plan assets	100.00%	100.00%
Pension Benefits | Equity securities
Defined Benefit Plan Disclosure [Line Items]
Percentage of plan assets	36.00%	33.00%
Target investment allocation and permissible allocation range for plan assets
Strategic target	33.00%
Pension Benefits | Hedge fund / Other
Defined Benefit Plan Disclosure [Line Items]
Percentage of plan assets	8.00%	8.00%
Target investment allocation and permissible allocation range for plan assets
Strategic target	8.00%
Pension Benefits | Debt securities / Fixed Income
Defined Benefit Plan Disclosure [Line Items]
Percentage of plan assets	56.00%	59.00%
Target investment allocation and permissible allocation range for plan assets
Strategic target	59.00%
Pension Benefits | Cash and money-market funds
Defined Benefit Plan Disclosure [Line Items]
Percentage of plan assets	0.00%	0.00%
Minimum | Pension Benefits | Equity securities
Target investment allocation and permissible allocation range for plan assets
Strategic target	28.00%
Minimum | Pension Benefits | Hedge fund / Other
Target investment allocation and permissible allocation range for plan assets
Strategic target	3.00%
Minimum | Pension Benefits | Debt securities / Fixed Income
Target investment allocation and permissible allocation range for plan assets
Strategic target	54.00%
Maximum | Pension Benefits | Equity securities
Target investment allocation and permissible allocation range for plan assets
Strategic target	38.00%
Maximum | Pension Benefits | Hedge fund / Other
Target investment allocation and permissible allocation range for plan assets
Strategic target	13.00%
Maximum | Pension Benefits | Debt securities / Fixed Income
Target investment allocation and permissible allocation range for plan assets
Strategic target	64.00%

Pension and Other Postretire_10

Pension and Other Postretirement Benefits - Future Benefit Payments (Details) $ in Millions	Dec. 31, 2020USD ($)
Pension Benefits
Future service benefit payments
2021	$ 26.8
2022	23.8
2023	24.6
2024	25.5
2025	25.7
Years 2026-2030	131.7
Postretirement Benefits Other than Pensions
Future service benefit payments
2021	6
2022	4.8
2023	4.5
2024	4.1
2025	3.7
Years 2026-2030	$ 12.3

Stock Compensation Plans - Omni

Stock Compensation Plans - Omnibus Plan (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2004
Stock Compensation Plans
Par value of shares of common stock (in dollars per share)	$ 0.01	$ 0.01
Reduction in number of shares available for future issuance (in shares)	53,610
Stock-based compensation expense and related income tax benefits
Stock-based compensation expense	$ 4.2	$ 5.6	$ 4
Income tax benefit	(1.1)	(1.4)	(1)
Stock-based compensation, net of income tax benefit	3.1	4.2	3
Compensation costs related to equity awards and amounts recognized
Compensation expense recognized	$ (4.2)	(5.6)	$ (4)
Stock options awarded
Nonqualified stock options granted (in shares)	0
Per share weighted-average grant date fair value (in dollars per share)	$ 0
Number of Stock Options
Add: options granted (in shares)	0
Stock Options
Stock Compensation Plans
Expiration period				10 years
Vesting period				3 years
Stock-based compensation expense and related income tax benefits
Stock-based compensation expense	$ 0.2
Compensation costs related to equity awards and amounts recognized
Beginning balance	0.2
Grant date fair value current year grants	0
Shares forfeited	0
Compensation expense recognized	(0.2)
Ending balance	$ 0	0.2
Expected amortization period	7 months 6 days
Performance Shares and RSUs
Stock-based compensation expense and related income tax benefits
Stock-based compensation expense	$ 4.1
Compensation costs related to equity awards and amounts recognized
Beginning balance	2.4
Grant date fair value current year grants	7.4
Shares forfeited	(1.8)
Compensation expense recognized	(4.1)
Ending balance	$ 3.9	$ 2.4
Expected amortization period	1 year 9 months 18 days
Nonqualified stock options
Stock options awarded
Nonqualified stock options granted (in shares)	0	1,272	108,420
Per share weighted-average exercise price (in dollars per share)		$ 66.59	$ 93.22
Per share weighted-average grant date fair value (in dollars per share)		$ 10.32	$ 15
Number of Stock Options
Add: options granted (in shares)	0	1,272	108,420
Weighted-Average Exercise Price
Add: Options granted (in dollars per share)		$ 66.59	$ 93.22
Options
Fair value assumptions
Expected term		5 years	5 years 8 months 12 days
Risk free interest rate		1.80%	2.50%
Volatility		23.10%	21.50%
Dividend yield		3.00%	3.00%
Omnibus Plan
Stock Compensation Plans
Shares of common stock reserved for future issuance (in shares)				3,500,000
Par value of shares of common stock (in dollars per share)				$ 0.01
Stock options awarded
Nonqualified stock options granted (in shares)	0
Per share weighted-average exercise price (in dollars per share)	$ 0
Number of Stock Options
Options outstanding at the beginning of the period (in shares)	416,548
Add: options granted (in shares)	0
Less: Options exercised (in shares)	13,434
Less: Options forfeited/cancelled (in shares)	22,270
Options outstanding at the end of the period (in shares)	380,844	416,548
Weighted-Average Exercise Price
Options outstanding at the beginning of the period (in dollars per share)	$ 70.08
Add: Options granted (in dollars per share)	0
Less: Options exercised (in dollars per share)	32.89
Less: Options forfeited/cancelled (in dollars per share)	80.49
Options outstanding at the end of the period (in dollars per share)	$ 70.99	$ 70.08
Omnibus Plan 2018
Stock Compensation Plans
Shares of common stock reserved for future issuance (in shares)	879,000
Additional common stock reserved for issuance subject to shareholders approval (in shares)			800,000

Stock Compensation Plans - Outs

Stock Compensation Plans - Outstanding and Exercisable Stock Options (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Options Vested or Expected to Vest
Number of options (in shares)	380,844
Weighted-average remaining contractual life	5 years 4 months 24 days
Weighted-average exercise price (in dollars per share)	$ 70.99
Aggregate intrinsic value	$ 1.2
Options Exercisable
Number of options (in shares)	362,651
Weighted-average exercise price (in dollars per share)	$ 70.11
Aggregate intrinsic value	$ 1.2
Closing market price for common stock (in dollars per share)	$ 55.32
Intrinsic value, exercises in the period	$ 0.3	$ 1.2	$ 5.2
$19.25 — $31.23
Exercise Price
Exercise price, low end of range (in dollars per share)	$ 19.25
Exercise price, high end of range (in dollars per share)	$ 31.23
Options Vested or Expected to Vest
Number of options (in shares)	31,884
Weighted-average remaining contractual life	1 year 7 months 6 days
Weighted-average exercise price (in dollars per share)	$ 27.86
Aggregate intrinsic value	$ 0.9
Options Exercisable
Number of options (in shares)	31,884
Weighted-average exercise price (in dollars per share)	$ 27.86
Aggregate intrinsic value	$ 0.9
$42.82 — $64.23
Exercise Price
Exercise price, low end of range (in dollars per share)	$ 42.82
Exercise price, high end of range (in dollars per share)	$ 64.23
Options Vested or Expected to Vest
Number of options (in shares)	132,516
Weighted-average remaining contractual life	4 years 4 months 24 days
Weighted-average exercise price (in dollars per share)	$ 55.70
Aggregate intrinsic value	$ 0.3
Options Exercisable
Number of options (in shares)	131,386
Weighted-average exercise price (in dollars per share)	$ 55.81
Aggregate intrinsic value	$ 0.3
$66.59 — $93.35
Exercise Price
Exercise price, low end of range (in dollars per share)	$ 66.59
Exercise price, high end of range (in dollars per share)	$ 93.35
Options Vested or Expected to Vest
Number of options (in shares)	216,444
Weighted-average remaining contractual life	6 years 6 months
Weighted-average exercise price (in dollars per share)	$ 86.70
Aggregate intrinsic value	$ 0
Options Exercisable
Number of options (in shares)	199,381
Weighted-average exercise price (in dollars per share)	$ 86.29
Aggregate intrinsic value	$ 0

Stock Compensation Plans - Unve

Stock Compensation Plans - Unvested Stock Options and Activity (Details) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)$ / sharesshares
Number of Stock Options
Outstanding at the beginning of the period (in shares)	98,519
Add: options granted (in shares)	0
Less: options vested (in shares)	77,961
Less: options forfeited (in shares)	2,365
Outstanding at the end of the period (in shares)	18,193
Weighted-Average Grant Date Fair Value
Outstanding at the beginning of the period (in dollars per share) | $ / shares	$ 14.41
Add: options granted (in dollars per share) | $ / shares	0
Less: options vested (in dollars per share) | $ / shares	14.30
Less: options forfeited (in dollars per share) | $ / shares	15.03
Outstanding at the end of the period (in dollars per share) | $ / shares	$ 14.48
Additional disclosures
Shares outstanding that vested and would have been exercisable had the participants reached retirement age (in shares)	8,439
Aggregate grant date fair value of options subject to accelerated vesting | $	$ 0.1
Aggregate grant date fair value of options vested, including options subject to accelerated vesting | $	1.1
Maximum | Stock options.
Additional disclosures
Accelerated compensation expense | $	$ 0.1

Stock Compensation Plans - Perf

Stock Compensation Plans - Performance Units/RSU (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Weighted-Average Grant Date Fair Value
Excess tax benefits from stock-based compensation	$ (0.4)	$ 0.1	$ 1.2
Performance units
Stock Compensation Plans
Granted (in shares)	44,206	49,730	40,747
Percentage of target to be awarded, high end of range	200.00%
Common stock earned as a percentage of the performance unit target	100.00%
Market price at grant date of performance units (in dollars per share)	$ 63.07
Unvested stock-based awards (other than stock options)
Outstanding at the beginning of the period (in shares)	66,191	47,221	41,377
Shares granted (in shares)	44,206	49,730	40,747
Shares vested (in shares)	0	0	0
Performance shares vested (in shares)	37,804	25,833	31,421
Shares expired or cancelled (in shares)	(18,545)	(4,927)	(3,482)
Outstanding at the end of the period (in shares)	54,048	66,191	47,221
Weighted-Average Grant Date Fair Value
Outstanding at the beginning of the period (in dollars per share)	$ 75.62	$ 93.21	$ 81.85
Shares granted (in dollars per share)	63.07	69.05	93.21
Shares vested (in dollars per share)	0	0	0
Performance shares vested (in dollars per share)	75.60	93.21	81.85
Shares expired or cancelled (in dollars per share)	83.30	85.67	84.45
Outstanding at the end of the period (in dollars per share)	$ 62.73	$ 75.62	$ 93.21
RSUs
Stock Compensation Plans
Granted (in shares)	100,418	46,556	10,618
Unvested stock-based awards (other than stock options)
Outstanding at the beginning of the period (in shares)	44,662	53,460	88,799
Shares granted (in shares)	100,418	46,556	10,618
Shares vested (in shares)	(61,767)	(63,595)	(72,190)
Performance shares vested (in shares)	21,101	10,354	33,928
Shares expired or cancelled (in shares)	(22,210)	(2,113)	(7,695)
Outstanding at the end of the period (in shares)	82,204	44,662	53,460
Weighted-Average Grant Date Fair Value
Outstanding at the beginning of the period (in dollars per share)	$ 65.23	$ 67.53	$ 53.33
Shares granted (in dollars per share)	56.39	67.04	82.29
Shares vested (in dollars per share)	68.28	72.91	60.24
Performance shares vested (in dollars per share)	69.22	93.21	88.40
Shares expired or cancelled (in dollars per share)	64.16	69.35	84.45
Outstanding at the end of the period (in dollars per share)	$ 53.45	$ 65.23	$ 67.53
Units issued in lieu of dividends (in shares)	72	43	132
Aggregate pre-tax intrinsic value of outstanding RSUs	$ 4.5
Aggregate pre-tax intrinsic value of restricted stock and RSUs that vested during the period	$ 3.4	$ 4.2	$ 4.4
RSUs | Non-employee members of the board of directors
Stock Compensation Plans
Granted (in shares)	14,184
Market price at grant date of performance units (in dollars per share)	$ 56.39
Vesting period	1 year
Unvested stock-based awards (other than stock options)
Shares granted (in shares)	14,184
RSUs | Employees
Stock Compensation Plans
Granted (in shares)	86,234
Unvested stock-based awards (other than stock options)
Shares granted (in shares)	86,234

Stockholders' Equity - Common a

Stockholders' Equity - Common and Preferred Stock (Details)	1 Months Ended	12 Months Ended
	Nov. 30, 2019USD ($)	Dec. 31, 2020USD ($)seriesvote$ / sharesshares	Dec. 31, 2019USD ($)shares	Dec. 31, 2018USD ($)shares
Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract]
Authorized shares of common stock (in shares) | shares		100,000,000	100,000,000
Voting rights per common share | vote		1
Shares acquired by the entity (in shares) | shares		22,064	17,774	25,890
Cost of shares acquired by the entity | $		$ 1,200,000	$ 1,300,000	$ 1,500,000
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract]
Authorized shares of preferred stock (in shares) | shares		20,000,000
Preferred stock, par value (in dollars per share) | $ / shares		$ 0.01
Minimum number of series of preferred stock to be issued | series		1
Number of preferred shares issued (in shares) | shares		0
2020 Stock Purchase Plan
Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract]
Stock repurchase program, period in force	12 months
Common stock purchased under the stock purchase plan (in shares) | shares		59,577
Cost of shares of common stock acquired | $		$ 3,600,000
2019 Stock Purchase Plan
Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract]
Authorized amount of repurchase under the stock purchase plan | $			$ 25,000,000
Common stock purchased under the stock purchase plan (in shares) | shares			79,676
Cost of shares of common stock acquired | $			$ 4,900,000
2018 Stock Purchase Plan
Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract]
Authorized amount of repurchase under the stock purchase plan | $		$ 25,000,000
Common stock purchased under the stock purchase plan (in shares) | shares				124,434
Cost of shares of common stock acquired | $				$ 9,300,000
Maximum | 2020 Stock Purchase Plan
Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract]
Authorized amount of repurchase under the stock purchase plan | $	$ 25,000,000

Stockholder's Equity - Schedule

Stockholder's Equity - Schedule of Other Comprehensive Loss (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Stockholders' Equity Note [Abstract]
Net loss from pension and other postretirement benefit liabilities, net of income tax benefits of $34.2 million and $31.6 million, respectively	$ (102)	$ (94.3)
Unrealized foreign currency translation losses, net of income tax benefit (expense) of $(0.4) million and $0.3 million, respectively	(1.7)	(19)
AOCI	(103.7)	(113.3)
Net loss from pension and other postretirement benefit liabilities, tax benefit	34.2	31.6
Foreign currency translation losses, tax benefit	$ (0.4)	$ 0.3

Stockholders' Equity - Changes

Stockholders' Equity - Changes in Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income (loss), pretax amount	$ 7.7	$ (9.9)	$ (12.3)
Other comprehensive income (loss), tax effect	1.9	1.7	1
Other comprehensive income (loss), net amount	9.6	(8.2)	(11.3)
Benefit for income taxes	2.9	(11.1)	(3.9)
Unrealized foreign currency translation gains (losses)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income (loss), pretax amount	18	(3.5)	(7.9)
Other comprehensive income (loss), tax effect	(0.7)	0	(0.1)
Other comprehensive income (loss), net amount	17.3	(3.5)	(8)
Adjustment to pension and other benefit liabilities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income (loss), pretax amount	(10.3)	(6.4)	(4.4)
Other comprehensive income (loss), tax effect	2.6	1.7	1.1
Other comprehensive income (loss), net amount	(7.7)	(4.7)	(3.3)
Cost of Sales and Selling General and Administrative Expenses | Reclassification out of Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income (Loss) [Line Items]
Cost of products sold and selling, general, and admin expense	6.6	6	6
Benefit for income taxes	1.7	1.5	1.5
Pension Plan Settlement Charge | Adjustment to pension and other benefit liabilities | Reclassification out of Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income (Loss) [Line Items]
Reclassification from AOCI, before tax	0.3	1.3	0.8
Reclassification from AOCI, tax	$ 0.1	$ 0.3	$ 0.2

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Jan. 01, 2019
Lessee, Lease, Description [Line Items]
Lease right-of-use assets	$ 20.2	$ 13.9		$ 16
Operating lease liability	$ 21.6			$ 17
Remaining lease term (up to)	10 years
Operating cash flows from operating leases	$ 4	3.1
Right-of-use assets obtained in exchange for operating lease obligations	$ 9.3	$ 0.4
Weighted average remaining lease term	7 years 7 months 6 days
Weighted average discount rate	4.50%
Rent expense under operating leases			$ 7.2
Maximum
Lessee, Lease, Description [Line Items]
Lease extension term	5 years

Leases - Lease Costs and Assump

Leases - Lease Costs and Assumptions (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Operating lease cost	$ 4	$ 3.1
Short-term lease cost	1.3	1.5
Variable lease cost	$ 1.2	$ 2.1

Leases - Operating Lease Maturi

Leases - Operating Lease Maturity Schedule (Details) - USD ($) $ in Millions	Dec. 31, 2020	Jan. 01, 2019
Leases [Abstract]
2021	$ 4.1
2022	3.8
2023	3.4
2024	2.9
2025	2.5
Thereafter	9.4
Total lease payments	26.1
Less: Imputed interest	4.5
Total lease liabilities	$ 21.6	$ 17

Commitments, Contingencies, a_3

Commitments, Contingencies, and Legal Matters (Details) $ in Millions	Dec. 31, 2020USD ($)employee	Nov. 30, 2019employee	Dec. 31, 2018employee
Loss Contingencies [Line Items]
Number of regular full-time employees	2,239	115	690
Number of hourly employees		30	375
2021 | $	$ 1.5
2022 | $	0.8
2023 | $	0.2
2024 | $	$ 0.2
Workforce Subject to Collective Bargaining Arrangements Expiring within One Year
Loss Contingencies [Line Items]
Number of regular full-time employees	85
United States
Loss Contingencies [Line Items]
Number of hourly employees	906
Number of salaried employees	476
Europe
Loss Contingencies [Line Items]
Number of hourly employees	509
Number of salaried employees	348
Lowville, NY
Loss Contingencies [Line Items]
Number of regular full-time employees	85
Whiting, WI
Loss Contingencies [Line Items]
Number of regular full-time employees	197
Appleton, WI
Loss Contingencies [Line Items]
Number of regular full-time employees	82
Neenah, WI
Loss Contingencies [Line Items]
Number of regular full-time employees	183
Munising, MI
Loss Contingencies [Line Items]
Number of regular full-time employees	173

Asset Restructuring And Impai_3

Asset Restructuring And Impairment Costs - Additional Information (Details)	3 Months Ended	11 Months Ended	12 Months Ended
	Jun. 30, 2020USD ($)	Nov. 30, 2020USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Restructuring Cost and Reserve [Line Items]
Asset restructuring and impairment costs	$ 55,300,000		$ 57,800,000	$ 4,700,000	$ 31,100,000
Impairment losses	52,300,000		54,800,000	0	31,100,000
Accelerated depreciation	3,000,000
Impairment of intangible assets				0	0
Impairment of indefinite lived intangible assets		$ 0	1,300,000
Goodwill impairment		$ 0	0	0
Accelerated depreciation charges from idled assets			2,600,000	4,700,000	0
Severance costs	400,000		400,000	0	$ 0
AIM Filtertech | Corporate Joint Venture
Restructuring Cost and Reserve [Line Items]
Impairment of investment			$ 2,500,000
Fine Paper And Packaging
Restructuring Cost and Reserve [Line Items]
Impairment of intangible assets	900,000
Accelerated depreciation charges from idled assets				$ 4,700,000
Technical Products
Restructuring Cost and Reserve [Line Items]
Impairment losses	51,000,000
Impairment of intangible assets	$ 400,000
Risk Free Interest Rate | Technical Products
Restructuring Cost and Reserve [Line Items]
Long-lived asset measurement input	0.095
Fine Paper Machine
Restructuring Cost and Reserve [Line Items]
Accelerated depreciation charges from idled assets	$ 2,600,000

Asset Restructuring And Impai_4

Asset Restructuring And Impairment Costs - Sale of Brattleboro and Impairment Loss (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Restructuring Cost and Reserve [Line Items]
Impairment loss	$ 54.8	$ 0	$ 31.1
Brattleboro Mill and Associated Research and Office Facilities | Disposal Group, Held-for-sale or Disposed of by Sale, Not Discontinued Operations
Restructuring Cost and Reserve [Line Items]
Cash proceeds from sale of mill			5
Impairment loss			31.1
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
Restructuring Cost and Reserve [Line Items]
Impairment loss			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
Restructuring Cost and Reserve [Line Items]
Impairment loss			1.1
Other | Brattleboro Mill and Associated Research and Office Facilities | Disposal Group, Held-for-sale or Disposed of by Sale, Not Discontinued Operations
Restructuring Cost and Reserve [Line Items]
Impairment loss			$ 5.6

Asset Restructuring and Impai_5

Asset Restructuring and Impairment Costs - Schedule of Restructuring and Impairment Charges (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Restructuring and Related Activities [Abstract]
Impairment losses	$ 52.3	$ 54.8	$ 0	$ 31.1
Restructuring charges from idled assets		2.6	4.7	0
Severance costs	0.4	0.4	0	0
Total	$ 55.3	$ 57.8	$ 4.7	$ 31.1

Business Segment and Geograph_3

Business Segment and Geographic Information - Segment Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Business segment
Net Sales	$ 792.6	$ 938.5	$ 1,034.9
Depreciation and amortization	36.7	38.9	36.1
Capital expenditures	18.8	21.4	38.1
Operating income (loss)	(6.1)	78.3	54.1
Impairment loss	54.8	0	31.1
Acquisition related adjustments	1.5	0	(3.9)
Insurance recoveries	0	0	0.4
Total assets	806.6	827.8
Long-lived assets	535.3	575.1
United States
Business segment
Long-lived assets	314.4	364.2
Germany
Business segment
Long-lived assets	160.8	153.3
Rest of Europe
Business segment
Long-lived assets	60.1	57.6
Pension Benefits
Business segment
Curtailment gain	0	1.6	0
Unallocated corporate costs
Business segment
Depreciation and amortization	2.2	1.6	1.6
Capital expenditures	0.8	0.6	1.4
Operating income (loss)	(24.6)	(19.5)	(19.8)
Total assets	62.2	36.3
Unallocated corporate costs | Supplemental Employee Retirement Plan
Business segment
Restructuring costs and pension settlement charges	5.6	0.3	1.9
Product
Business segment
Net Sales	792.6	938.5	1,034.9
Product | United States
Business segment
Net Sales	533.1	673	744.4
Product | Germany
Business segment
Net Sales	203.9	196.3	216.5
Product | Rest of Europe
Business segment
Net Sales	55.6	69.2	74
Technical Products | Operating Segments
Business segment
Depreciation and amortization	23.7	24.1	24.4
Capital expenditures	13.4	13.1	28
Operating income (loss)	(4.8)	44.6	50.9
Impairment loss	54.1
Non-routine costs	0.7	0.3
COVID-19 costs	1.4
Pension settlements charge	0.8
Non-cash impairment loss, restructuring, integration and pension settlement charges			2.5
Acquisition related adjustments			3.9
Total assets	552	573.8
Technical Products | Product
Business segment
Net Sales	$ 508.9	$ 541.6	$ 583.2
Technical Products | Product Concentration Risk | Sales
Business segment
Percentage of concentration risk	100.00%	100.00%	100.00%
Technical Products | Product Concentration Risk | Filtration | Sales
Business segment
Percentage of concentration risk	46.00%	42.00%	40.00%
Technical Products | Product Concentration Risk | Performance Materials | Sales
Business segment
Percentage of concentration risk	54.00%	58.00%	60.00%
Fine Paper and Packaging | Operating Segments
Business segment
Depreciation and amortization	$ 10.8	$ 13.2	$ 9.9
Capital expenditures	4.6	7.7	8.7
Operating income (loss)	23.3	53.2	29.4
Impairment loss	3.7
Non-routine costs	2.2	5.7
COVID-19 costs	1.5
Pension settlements charge	0.4
Non-cash impairment loss, restructuring costs, and pension settlement charges			24.6
Insurance recoveries			0.3
Total assets	192.4	217.7
Fine Paper and Packaging | Product
Business segment
Net Sales	$ 283.7	$ 396.9	$ 445.8
Fine Paper and Packaging | Product Concentration Risk | Sales
Business segment
Percentage of concentration risk	100.00%	100.00%	100.00%
Fine Paper and Packaging | Product Concentration Risk | Graphic Imaging | Sales
Business segment
Percentage of concentration risk	74.00%	79.00%	78.00%
Fine Paper and Packaging | Product Concentration Risk | Packaging | Sales
Business segment
Percentage of concentration risk	26.00%	21.00%	18.00%
Fine Paper and Packaging | Product Concentration Risk | Filing/Office | Sales
Business segment
Percentage of concentration risk	0.00%	0.00%	4.00%
Other | Operating Segments
Business segment
Depreciation and amortization	$ 0	$ 0	$ 0.2
Operating income (loss)	0	0	(6.4)
Insurance recoveries			0.1
Pension plan settlement charge			6
Other | Product
Business segment
Net Sales	$ 0	0	5.9
Restatement Adjustment | Other
Business segment
Net Sales			(15.6)
Depreciation and amortization			(0.7)
Capital expenditures			$ 0
Dutch Defined Benefit Plan | Technical Products | Operating Segments | Pension Benefits
Business segment
Curtailment gain		$ 1.5

Business Segment and Geograph_4

Business Segment and Geographic Information - Concentrations (Details) - Sales - Customer concentration risk	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Technical Products Business' Customer Number One
Concentrations
Percentage of concentration risk	9.00%	8.00%
Technical Products Business' Customer Number One | Technical Products
Concentrations
Percentage of concentration risk	15.00%	14.00%
Fine Paper And Packaging Business' Customer Number One
Concentrations
Percentage of concentration risk	6.00%	8.00%	7.00%
Fine Paper And Packaging Business' Customer Number One | Fine Paper and Packaging
Concentrations
Percentage of concentration risk	18.00%	18.00%	16.00%
Fine Paper And Packaging Business' Customer Number Two
Concentrations
Percentage of concentration risk			5.00%
Fine Paper And Packaging Business' Customer Number Two | Fine Paper and Packaging
Concentrations
Percentage of concentration risk			12.00%

Supplemental Data - Advertising

Supplemental Data - Advertising and Research and Development, Accounts Receivable, Inventory, Prepaid and Other Current Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Advertising and Research Development Expenses
Advertising expense	$ 3	$ 4.9	$ 4.7
Research and development expense (a)	7.6	8.7	$ 9.2
Accounts Receivable - net
From customers	101.7	104.1
Less allowance for doubtful accounts and sales discounts	(1.5)	(1.5)
Total	100.2	102.6
Inventories by Major Class:
Raw materials	28.9	32.8
Work in progress	20.1	26.4
Finished goods	61	67.3
Supplies and other	5.3	5.2
Inventories, gross	115.3	131.7
Excess of FIFO over LIFO cost	(6.4)	(8.9)
Total	108.9	122.8
FIFO values of inventories valued on the LIFO method	88.5	102.2
Decrease in LIFO inventory quantities	0.1	0.1
Prepaid and Other Current Assets
Prepaid and other current assets	10.6	9.9
Spare parts	6.4	6.4
Receivable for income taxes	8.1	2
Total	$ 25.1	$ 18.3

Supplemental Data - Property, P

Supplemental Data - Property, Plant, and Equipment, Accrued Expense, Noncurrent Liabilities (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment - Net
Gross property, plant and equipment	$ 812.8	$ 850.6
Less accumulated depreciation	483.4	470
Net Property, Plant and Equipment	329.4	380.6
Depreciation expense	31.5	33.9	$ 32.6
Interest expense capitalized	0.3	0.2	$ 0.2
Accrued Expenses
Accrued salaries and employee benefits	34	26.2
Amounts due to customers	8.4	8.9
Accrued income taxes	5.5	0.5
Accrued utilities	3.4	3
Other	10.6	8.4
Total	61.9	47
Noncurrent Employee Benefits
Pension benefits	62	57.1
Post-employment benefits other than pensions	34.8	36
Total	96.8	93.1
Supplemental RCP benefits	0.8	1.7
Other long term benefits	0.2	0.2
Land and land improvements
Property, Plant and Equipment - Net
Gross property, plant and equipment	20.5	19.4
Buildings
Property, Plant and Equipment - Net
Gross property, plant and equipment	160	165.4
Machinery and equipment
Property, Plant and Equipment - Net
Gross property, plant and equipment	614.9	651
Construction in progress
Property, Plant and Equipment - Net
Gross property, plant and equipment	$ 17.4	$ 14.8

Supplemental Data - Supplementa

Supplemental Data - Supplemental Cash Flow Data (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Supplemental Disclosure of Cash Flow Information
Cash paid during the year for interest, net of interest expense capitalized	$ 12.3	$ 10.9	$ 11.9
Cash paid during the year for income taxes, net of refunds	3.6	13.3	7.6
Non-cash investing activities:
Liability for equipment acquired	3.3	3.2	3.4
Net cash provided by (used in) changes in working capital
Accounts receivable	4.5	11.6	(0.9)
Inventories	15.7	8.2	3.8
Income taxes receivable/payable	(1.4)	(5.4)	(1.8)
Prepaid and other current assets	(0.2)	2.4	(1.8)
Accounts payable	(3.6)	(14)	0.3
Accrued expenses	3.2	(3.4)	(0.6)
Total	$ 18.2	$ (0.6)	$ (1)

SCHEDULE II SCHEDULE OF VALUA_2

SCHEDULE II SCHEDULE OF VALUATION AND QUALIFYING ACCOUNTS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Movement in valuation and qualifying accounts
Write-offs and Reclassifications			$ 0
Allowance for doubtful accounts receivable
Movement in valuation and qualifying accounts
Balance at Beginning of Period	$ 1	$ 0.8	0.8
Charged to Costs and Expenses	0.5	0.5	0.1
Charged to Other Accounts	0	0	0
Write-offs and Reclassifications	(0.4)	(0.3)	(0.1)
Balance at End of Period	1.1	1	0.8
Allowance for sales discounts
Movement in valuation and qualifying accounts
Balance at Beginning of Period	0.4	0.5	0.5
Charged to Costs and Expenses	(0.1)	0	0
Charged to Other Accounts	0	(0.1)	0
Write-offs and Reclassifications	0	0
Balance at End of Period	0.3	0.4	0.5
Valuation allowance for deferred income tax assets
Movement in valuation and qualifying accounts
Balance at Beginning of Period	5.8	2.7	0.4
Charged to Costs and Expenses	4.6	0	0.1
Charged to Other Accounts	0	3.1	2.2
Write-offs and Reclassifications	0	0	0
Balance at End of Period	$ 10.4	$ 5.8	$ 2.7