AdvanSix (ASIX) 10-Q 1 Aug 19 2019 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2019	Jul. 26, 2019
Document and Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2019
Document Transition Report	false
Entity File Number	1-37774
Entity Registrant Name	AdvanSix Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	81-2525089
Entity Address, Address Line One	300 Kimball Drive
Entity Address, Address Line Two	Suite 101
Entity Address, City or Town	Parsippany
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	07054
City Area Code	973
Local Phone Number	526-1800
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	ASIX
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		27,815,783
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001673985
Amendment Flag	false

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Income Statement [Abstract]
Sales	$ 345,215	$ 400,459	$ 660,110	$ 759,697
Costs, expenses and other:
Costs of goods sold	303,128	342,958	570,008	664,278
Selling, general and administrative expenses	20,009	17,919	39,422	37,132
Other non-operating expense (income), net	1,452	1,582	3,056	5,128
Total costs, expenses and other	324,589	362,459	612,486	706,538
Income before taxes	20,626	38,000	47,624	53,159
Income tax expense	5,280	9,590	12,104	13,156
Net income	$ 15,346	$ 28,410	$ 35,520	$ 40,003
Earnings per common share
Basic (in dollars per share)	$ 0.54	$ 0.93	$ 1.25	$ 1.31
Diluted (in dollars per share)	$ 0.53	$ 0.91	$ 1.21	$ 1.28
Weighted average common shares outstanding
Basic (in shares)	28,162,007	30,481,627	28,489,486	30,485,095
Diluted (in shares)	29,136,979	31,305,168	29,460,149	31,294,323

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Statement of Comprehensive Income [Abstract]
Net income	$ 15,346	$ 28,410	$ 35,520	$ 40,003
Foreign exchange translation adjustment	4	(17)	3	(18)
Cash-flow hedges	(429)	0	(621)	0
Pension obligation adjustments	0	0	0	410
Other comprehensive income (loss), net of tax	(425)	(17)	(618)	392
Comprehensive income	$ 14,921	$ 28,393	$ 34,902	$ 40,395

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 17,057	$ 9,808
Accounts and other receivables – net	127,526	160,266
Inventories – net	138,234	137,182
Other current assets	10,496	3,807
Total current assets	293,313	311,063
Property, plant and equipment – net	701,120	672,210
Operating lease right-of-use assets	115,284	0
Goodwill	15,005	15,005
Other assets	38,164	36,348
Total assets	1,162,886	1,034,626
Current liabilities:
Accounts payable	192,614	231,720
Accrued liabilities	31,907	30,448
Operating lease liabilities – short-term	26,022	0
Deferred income and customer advances	3,184	22,556
Total current liabilities	253,727	284,724
Deferred income taxes	113,685	103,783
Operating lease liabilities – long-term	89,503	0
Line of credit – long-term	255,000	200,000
Postretirement benefit obligations	24,381	21,080
Other liabilities	6,027	4,701
Total liabilities	742,323	614,288
COMMITMENTS AND CONTINGENCIES (Note 9)
STOCKHOLDERS' EQUITY
Common stock, par value $0.01; 200,000,000 shares authorized; 30,591,472 shares issued and 28,008,959 outstanding at June 30, 2019; 30,555,715 shares issued and 29,345,001 outstanding at December 31, 2018	306	306
Preferred stock, par value $0.01; 50,000,000 shares authorized and 0 shares issued and outstanding at June 30, 2019 and December 31, 2018	0	0
Treasury stock at par (2,582,513 shares at June 30, 2019; 1,210,714 shares at December 31, 2018)	(26)	(12)
Additional paid-in capital	200,036	234,699
Retained earnings	223,339	187,819
Accumulated other comprehensive loss	(3,092)	(2,474)
Total stockholders' equity	420,563	420,338
Total liabilities and stockholders' equity	$ 1,162,886	$ 1,034,626

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parentheticals) - $ / shares	Jun. 30, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Common stock par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	200,000,000	200,000,000
Common stock, shares issued (in shares)	30,591,472	30,555,715
Common stock, shares outstanding (in shares)	28,008,959	29,345,001
Preferred stock par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	50,000,000	50,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Treasury stock (in shares)	2,582,513	1,210,714

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Cash flows from operating activities:
Net income	$ 35,520	$ 40,003
Adjustments to reconcile net income to net cash (used for) provided by operating activities:
Depreciation and amortization	27,872	25,913
Loss on disposal of assets	1,901	1,336
Deferred income taxes	10,109	6,845
Stock based compensation	5,574	4,880
Accretion of deferred financing fees	214	1,589
Restructuring charges	12,623	0
Changes in assets and liabilities:
Accounts and other receivables	32,743	43,913
Inventories	(2,494)	7,079
Accounts payable	(30,586)	(30,185)
Accrued liabilities	(1,771)	(6,805)
Deferred income and customer advances	(19,372)	(14,769)
Other assets and liabilities	(4,970)	(2,578)
Net cash provided by operating activities	67,363	77,221
Cash flows from investing activities:
Expenditures for property, plant and equipment	(71,201)	(53,423)
Other investing activities	(1,285)	(1,254)
Net cash used for investing activities	(72,486)	(54,677)
Cash flows from financing activities:
Payments of long-term debt	0	(266,625)
Borrowings from line of credit	210,250	261,000
Payments of line of credit	(155,250)	(51,000)
Payment of line of credit facility fees	0	(1,362)
Principal payments of finance leases	(2,377)	(162)
Purchase of treasury stock	(40,267)	(3,113)
Issuance of common stock	16	0
Net cash provided by (used for) financing activities	12,372	(61,262)
Net change in cash and cash equivalents	7,249	(38,718)
Cash and cash equivalents at beginning of period	9,808	55,432
Cash and cash equivalents at the end of period	17,057	16,714
Supplemental non-cash investing activities:
Capital expenditures included in accounts payable	18,451	7,704
Supplemental cash activities:
Cash paid for interest	2,295	3,204
Cash paid for income taxes	$ 6,576	$ 2,240

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Retained Earnings (Accumulated Deficit)	Treasury Stock	Accumulated  Other Comprehensive Income (Loss)
Beginning balance (in shares) at Dec. 31, 2017		30,482,966
Beginning balance at Dec. 31, 2017	$ 376,325	$ 305	$ 263,081	$ 121,985	$ 0	$ (9,046)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	11,593			11,593
Comprehensive income
Foreign exchange translation adjustments	(1)					(1)
Cash-flow Hedges	0
Pension obligation adjustments	0			(410)		410
Other comprehensive income (loss), net of tax	(1)			(410)		409
Issuance of common stock (in shares)		25,356
Issuance of common stock	0
Purchase of treasury shares	(370)		(370)
Stock-based compensation	2,281		2,281
Ending balance (in shares) at Mar. 31, 2018		30,508,322
Ending balance at Mar. 31, 2018	389,828	$ 305	264,992	133,168	0	(8,637)
Beginning balance (in shares) at Dec. 31, 2017		30,482,966
Beginning balance at Dec. 31, 2017	376,325	$ 305	263,081	121,985	0	(9,046)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	40,003
Comprehensive income
Cash-flow Hedges	0
Ending balance (in shares) at Jun. 30, 2018		30,524,738
Ending balance at Jun. 30, 2018	418,077	$ 305	264,849	161,578	(1)	(8,654)
Beginning balance (in shares) at Mar. 31, 2018		30,508,322
Beginning balance at Mar. 31, 2018	389,828	$ 305	264,992	133,168	0	(8,637)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	28,410			28,410
Comprehensive income
Foreign exchange translation adjustments	(17)					(17)
Cash-flow Hedges	0
Pension obligation adjustments	0
Other comprehensive income (loss), net of tax	(17)					(17)
Issuance of common stock (in shares)		16,416
Issuance of common stock	0
Purchase of treasury shares	(2,743)		(2,742)		(1)
Stock-based compensation	2,599		2,599
Ending balance (in shares) at Jun. 30, 2018		30,524,738
Ending balance at Jun. 30, 2018	$ 418,077	$ 305	264,849	161,578	(1)	(8,654)
Beginning balance (in shares) at Dec. 31, 2018	29,345,001	30,555,715
Beginning balance at Dec. 31, 2018	$ 420,338	$ 306	234,699	187,819	(12)	(2,474)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	20,174			20,174
Comprehensive income
Foreign exchange translation adjustments	(1)					(1)
Cash-flow Hedges	(192)					(192)
Pension obligation adjustments	0
Other comprehensive income (loss), net of tax	(193)					(193)
Issuance of common stock (in shares)		22,497
Issuance of common stock	16		16
Purchase of treasury shares	(23,853)		(23,845)		(8)
Stock-based compensation	2,762		2,762
Ending balance (in shares) at Mar. 31, 2019		30,578,212
Ending balance at Mar. 31, 2019	$ 419,244	$ 306	213,632	207,993	(20)	(2,667)
Beginning balance (in shares) at Dec. 31, 2018	29,345,001	30,555,715
Beginning balance at Dec. 31, 2018	$ 420,338	$ 306	234,699	187,819	(12)	(2,474)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	35,520
Comprehensive income
Cash-flow Hedges	$ (621)
Ending balance (in shares) at Jun. 30, 2019	28,008,959	30,591,472
Ending balance at Jun. 30, 2019	$ 420,563	$ 306	200,036	223,339	(26)	(3,092)
Beginning balance (in shares) at Mar. 31, 2019		30,578,212
Beginning balance at Mar. 31, 2019	419,244	$ 306	213,632	207,993	(20)	(2,667)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	15,346			15,346
Comprehensive income
Foreign exchange translation adjustments	4					4
Cash-flow Hedges	(429)					(429)
Pension obligation adjustments	0
Other comprehensive income (loss), net of tax	(425)					(425)
Issuance of common stock (in shares)		13,260
Issuance of common stock	0
Purchase of treasury shares	(16,414)		(16,408)		(6)
Stock-based compensation	$ 2,812		2,812
Ending balance (in shares) at Jun. 30, 2019	28,008,959	30,591,472
Ending balance at Jun. 30, 2019	$ 420,563	$ 306	$ 200,036	$ 223,339	$ (26)	$ (3,092)

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - shares	3 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Mar. 31, 2018
Treasury Stock
Stock repurchased during period (in shares)	578,045	793,754	70,107	8,995

Organization, Operations and Ba

Organization, Operations and Basis of Presentation	6 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
Organization, Operations and Basis of Presentation	Organization, Operations and Basis of Presentation Description of Business AdvanSix Inc. (“AdvanSix”, the “Company”, "we" or "our") is an integrated manufacturer of Nylon 6, a polymer resin which is a synthetic material used by our customers to produce engineered plastics, fibers, filaments and films that, in turn, are used in such end-products as automotive and electronic components, carpets, sports apparel, fishing nets and food and industrial packaging. As a result of our backward integration and the configuration of our manufacturing facilities, we also sell a variety of other products, all of which are produced as part of our integrated Nylon 6 resin manufacturing process including caprolactam, ammonium sulfate fertilizers, acetone and other chemical intermediates. Basis of Presentation The Condensed Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and with the instructions to Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, the accompanying unaudited Condensed Consolidated Financial Statements contain all adjustments, consisting of only normal recurring adjustments, necessary for a fair statement of the Company's financial position as of June 30, 2019, and its results of operations and cash flows for the three and six months ended June 30, 2019 and 2018. The Condensed Consolidated Balance Sheet at December 31, 2018 was derived from audited annual financial statements but does not contain all of the footnote disclosures from the annual financial statements. The results of operations of any interim period are not necessarily indicative of the results of operations to be expected for the full fiscal year. These financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2018 (the "2018 Form 10-K"). All intercompany transactions have been eliminated. Certain prior period amounts have been reclassified for consistency with the current period presentation. It is our practice to establish actual quarterly closing dates using a predetermined fiscal calendar, which requires our businesses to close their books on a Saturday in order to minimize the potentially disruptive effects of quarterly closing on our business processes. Historically, the effects of this practice were generally not significant to reported results for any quarter and only existed within a reporting year. In the event that differences in actual closing dates are material to year-over-year comparisons of quarterly or year-to-date results, we will provide the appropriate disclosures. Our actual closing dates for the three and six months ended June 30, 2019 and 2018 wer e June 29, 2019 and June 30, 2018, respe ctively. Liabilities to creditors to whom we have issued checks that remained outstanding at June 30, 2019 and December 31, 2018 aggregated $6.7 million and $7.7 million, respectively, and were included in Cash and cash equivalents and Accounts payable in the Condensed Consolidated Balance Sheets. The Company submitted a business interruption insurance claim related to the first quarter 2018 weather event and recorded a benefit of $6.6 million and $2.3 million to Cost of goods sold in the first and second quarters of 2019, respectively. The business interruption claim has been closed with a total recorded benefit of approximately of $12 million. On May 4, 2018, the Company announced that its Board of Directors (the “Board”) authorized a share repurchase program of up to $75 million of the Company’s common stock. On February 22, 2019, the Company announced that the Board authorized a share repurchase program of up to an additional $75 million of the Company's common stock , which was in addition to the remaining capacity available under the May 2018 share repurchase program. Repurchases may be made from time to time on the open market, including through the use of trading plans intended to qualify under Rule 10b5-1 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). The size and timing of these repurchases will depend on pricing, market and economic conditions, legal and contractual requirements and other factors. The share repurchase program has no expiration date and may be modified, suspended or discontinued at any time. The par value of the shares repurchased is applied to Treasury stock and the excess of the purchase price over par value is applied to Additional paid-in capital. As of June 30, 2019, the Company had repurchased 2,555,713 shares of common stock for an aggregate of $77.7 million at a weighted average market price of $30.40 per share. As of June 30, 2019, $72.3 million remained available for share repurchases under the current authorization.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	6 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements The Company considers the applicability and impact of all Accounting Standards Updates (“ASUs”) issued by the Financial Accounting Standards Board (“FASB”) . ASUs not discussed below were assessed and determined to be either not applicable or are expected to have minimal impact on our consolidated financial position or results of operations. In October 2018, the FASB issued ASU No. 2018-16, Derivatives and Hedging (Topic 815): Inclusion of the Secured Overnight Financing Rate (“ SOFR ”) Overnight Index Swap (“ OIS ”) Rate as a Benchmark Interest Rate for Hedge Accounting Purposes, which permits use of the OIS rate based on SOFR as a U.S. benchmark interest rate for hedge accounting purposes under Topic 815 in addition to the interest rates on direct Treasury obligations of the U.S. government (“UST”), the LIBOR swap rate, the OIS rate based on the Fed Funds Effective Rate and the SIFMA Municipal Swap Rate. Pursuant to the amendments, SOFR will be an option to replace LIBOR as it is phased out. The amendments of ASU No. 2018-16 are effective for companies that have adopted ASU 2017-12 for fiscal years beginning after December 15, 2018, including interim periods within that fiscal year or at such time a company adopts ASU 2017-12. Early adoption of ASU 2018-16 is not permitted without previous adoption of ASU 2017-12. As the Company elected to early adopt ASU 2017-12 during the fourth quarter of 2018, the Company adopted ASU 2018-16 effective January 1, 2019, which did not have a material impact on the Company's consolidated financial position or results of operations upon adoption. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) , which requires lessees to recognize most leases on their balance sheets related to the rights and obligations created by those leases. The new standard also requires disclosures to help financial statement users better understand the amount, timing, and uncertainty of cash flows arising from leases and will be effective for interim and annual periods beginning after December 15, 2018 (early adoption is permitted). Initial guidance stated that the new standard be applied under a modified retrospective approach with periods prior to the adoption date being adjusted. During July 2018, however, the FASB issued ASU 2018-11, Leases (Topic 842) , providing another transition method allowing a company to recognize a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption without adjusting prior periods. The Company adopted the standard effective January 1, 2019 electing the cumulative-effect adjustment approach made available in ASU 2018-11. The Company has also elected the following practical expedients: • the package of three expedients which allows the Company not to re-assess (i) whether any expired or existing contracts are or contain leases, (ii) lease classification for any expired or existing leases, and (iii) initial direct costs for any expired or existing leases; • the short-term lease practical expedient, which allows the Company to exclude leases with an initial term of 12 months or less (“short-term leases”) from recognition in the unaudited Condensed Consolidated Balance Sheet; • the bifurcation of lease and non-lease components practical expedients, which did not require the Company to bifurcate lease and non-lease components for our real estate leases; and • the land easements practical expedient, which allows the Company to carry forward the accounting treatment for land easements on existing agreements.

Revenues

Revenues	6 Months Ended
	Jun. 30, 2019
Revenue from Contract with Customer [Abstract]
Revenues	Revenues Revenue Recognition We serve approximately 500 customers annually in more than 40 countries and across a wide variety of industries. For the three months ended June 30, 2019 and 2018, the Company's ten largest customers accounted for approximately 47% and 45% of total sales, respectively. For the six months ended June 30, 2019 and 2018, the Company's ten largest customers accounted for approximately 46% and 45% of total sales, respectively. We typically sell to customers under master service agreements, with one- to two-year terms on average, or by purchase orders. We have historically experienced low customer turnover and have an average customer relationship of approximately 20 years. Our largest customer is Shaw Industries Group Inc. (“Shaw”), one of the world's largest consumers of caprolactam and Nylon 6 resin. We sell Nylon 6 resin and caprolactam to Shaw under a long-term agreement. For the three months ended June 30, 2019 and 2018, our sales to Shaw were 19% and 22%, respectively, of our total sales. For the six months ended June 30, 2019 and 2018, our sales to Shaw were 21% and 22%, respectively, of our total sales. Each of the Company’s product lines represented the following approximate percentage of total sales for the three and six months ended June 30, 2019 and 2018: Three Months Ended Six Months Ended 2019 2018 2019 2018 Nylon 27% 27% 29% 28% Caprolactam 20% 19% 20% 18% Ammonium Sulfate Fertilizers 27% 21% 25% 20% Chemical Intermediates 26% 33% 26% 34% 100% 100% 100% 100% The Company's revenues by geographic area for the three and six months ended June 30, 2019 and 2018 were as follows: Three Months Ended Six Months Ended 2019 2018 2019 2018 United States $ 289,551 $ 342,497 $ 547,193 $ 640,145 International 55,664 57,962 112,917 119,552 Total $ 345,215 $ 400,459 $ 660,110 $ 759,697 Deferred Income and Customer Advances The Company defers revenues when cash payments are received in advance of our performance. Customer advances relate primarily to sales from the ammonium sulfate business. Below is a roll-forward of Deferred income and customer advances for the six months ended June 30, 2019: Opening balance January 1, 2019 $ 22,556 Additional cash advances 1,083 Less amounts recognized in revenues (20,455) Ending balance June 30, 2019 $ 3,184 The Company expects to recognize as revenue the June 30, 2019 ending balance of Deferred income and customer advances within one year or less.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2019
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The computation of basic and diluted earnings per share ("EPS") is based on Net income divided by the basic weighted average number of common shares and diluted weighted average number of common shares, respectively. The details of the basic and diluted EPS calculations for the three and six months ended June 30, 2019 and 2018 were a s follows: Three Months Ended Six Months Ended 2019 2018 2019 2018 Basic Net Income $ 15,346 $ 28,410 $ 35,520 $ 40,003 Weighted average common shares outstanding 28,162,007 30,481,627 28,489,486 30,485,095 EPS – Basic $ 0.54 $ 0.93 $ 1.25 $ 1.31 Diluted Dilutive effect of equity awards and other stock-based holdings 974,972 823,541 970,663 809,228 Weighted average common shares outstanding 29,136,979 31,305,168 29,460,149 31,294,323 EPS – Diluted $ 0.53 $ 0.91 $ 1.21 $ 1.28 Diluted EPS is computed based upon the weighted average number of common shares outstanding for the period plus the dilutive effect of common stock equivalents (which includes units allocated to the AdvanSix stock unit fund under the AdvanSix Inc. Deferred Compensation Plan) using the treasury stock method and the average market price of our common stock for the year. The diluted EPS calculations exclude the effect of stock options when the options’ assumed proceeds exceed the average market price of the common shares during the period. For the three months ended June 30, 2019 and 2018, stock options of 539,054 and 128,777, respectively, were anti-dilutive and excluded from the computations of dilutive EPS.

Accounts and Other Receivables

Accounts and Other Receivables - Net	6 Months Ended
	Jun. 30, 2019
Receivables [Abstract]
Accounts and Other Receivables - Net	Accounts and Other Receivables – Net June 30, December 31, Accounts receivables $ 125,887 $ 166,017 Other 3,901 1,716 Total accounts and other receivables 129,788 167,733 Less – allowance for doubtful accounts (2,262) (7,467) Total accounts and other receivables – net $ 127,526 $ 160,266 The decrease in Total accounts and other receivables – net at June 30, 2019 versus December 31, 2018 was due primarily to lower sales. The change in the allowance for doubtful accounts relates to an accounts receivable write-off of approximately $5.1 million related to a customer bankruptcy as previously reported in the 2018 Form 10-K.

Inventories

Inventories	6 Months Ended
	Jun. 30, 2019
Inventory Disclosure [Abstract]
Inventories	Inventories June 30, December 31, Raw materials $ 46,109 $ 55,002 Work in progress 54,030 46,728 Finished goods 45,333 39,368 Spares and other 24,313 24,555 169,785 165,653 Reduction to LIFO cost basis (31,551) (28,471) Total inventories – net $ 138,234 $ 137,182 Total inventories – net at June 30, 2019 were relatively flat compared to the balance at December 31, 2018. The shift in inventory categories reflects the normal course of operations including the timing of cumene deliveries and the fulfillment of customer orders.

Postretirement Benefit Cost

Postretirement Benefit Cost	6 Months Ended
	Jun. 30, 2019
Retirement Benefits [Abstract]
Postretirement Benefit Cost	Postretirement Benefit Cost The components of Net periodic benefit cost of the Company’s pension plan are as follows: Three Months Ended Six Months Ended 2019 2018 2019 2018 Service cost $ 1,714 $ 2,001 $ 3,427 $ 4,003 Interest cost 521 469 1,042 938 Expected return on plan assets (334) (287) (668) (575) Net periodic benefit cost $ 1,901 $ 2,183 $ 3,801 $ 4,366 The Company made contributions to the defined benefit pension plan of $0.5 million in the second quarter of 2019. No contributions were made in the first quarter of 2019. The Company plans to make pension plan contributions during 2019 sufficient to satisfy pension funding requirements in an aggregate amount of approximately $4 to $6 million and will make additional contributions in future years sufficient to satisfy pension funding requirements in those periods. The pension plan assets are invested through a master trust fund. The strategic asset allocation for the trust fund is selected by the Company's Investment Committee reflecting the results of comprehensive asset and liability modeling. The Investment Committee establishes strategic asset allocation percentage targets and appropriate benchmarks for significant asset classes with the aim of achieving a prudent balance between return and risk.

Leases

Leases	6 Months Ended
	Jun. 30, 2019
Leases [Abstract]
Leases	Leases We determine if an arrangement is a lease at inception. Operating leases are included in Operating lease right-of-use assets, Operating lease liabilities – short-term, and Operating lease liabilities – long-term in our Condensed Consolidated Balance Sheet. Finance leases are included in Property, plant and equipment – net, Accounts payable, and Other liabilities in our Condensed Consolidated Balance Sheets. ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. We use the implicit rate when readily determinable. The operating lease ROU asset also includes any lease payments made and excludes lease incentives. Our lease terms may include options to extend or terminate the lease and, when it is reasonably certain that such an option will be exercised, it is included in the determination of the corresponding assets and liabilities. Short-term leases are not recognized on our unaudited Condensed Consolidated Balance Sheets. Lease expense for all lease payments is recognized on a straight-line basis over the lease term. We have lease agreements with lease and non-lease components, which are generally accounted for separately. Additionally, for certain equipment leases, we apply a portfolio approach to effectively account for the operating lease ROU assets and liabilities. The Company has entered into agreements to lease transportation equipment, storage facilities, office space, dock access and other equipment. The leases have initial terms of up to 20 years with some containing renewal options subject to customary conditions. The components of lease expense were as follows: Three Months Ended Six Months Ended Finance lease cost: Amortization of right-of-use asset $ 157 $ 305 Interest on lease liabilities 17 35 Total finance lease cost 174 340 Operating lease cost 7,931 15,501 Short-term lease cost 4,116 8,397 Total lease cost $ 12,221 $ 24,238 Supplemental cash flow information related to leases was as follows: Six Months Ended Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 15,295 Operating cash flows from finance leases 30 Financing cash flows from finance leases 2,377 Non-cash information: Right-of-use assets obtained in exchange for lease obligations: Operating leases 9,419 Finance leases 593 Supplemental balance sheet information related to leases was as follows: June 30, Operating Leases Operating lease right-of-use assets $ 115,284 Operating lease liabilities – short term 26,022 Operating lease liabilities – long term 89,503 Total operating lease liabilities $ 115,525 Finance Leases Property, plant and equipment – gross $ 2,354 Accumulated depreciation (1,034) Property, plant and equipment – net $ 1,320 Accounts payable 591 Other liabilities 739 Total finance lease liabilities $ 1,330 Weighted Average Remaining Lease Term Operating leases 10.64 years Finance leases 2.38 years Weighted Average Discount Rate Operating leases 6.14 % Finance leases 5.20 % The cumulative effect of the changes made to the Condensed Consolidated Balance Sheets for the adoption of the new leasing standard on January 1, 2019 was as follows: Balance Sheet accounts prior to new leasing standard adoption adjustments Adjustments due to the adoption of the new leasing standard Balance Sheet accounts after the new leasing standard adoption adjustments ASSETS Property, plant and equipment – net $ 1,032 $ — $ 1,032 Operating lease right-of-use assets — 117,921 117,921 Total assets 1,034,626 $ 117,921 1,152,547 LIABILITIES AND EQUITY Current Liabilities: Accounts payable $ 318 $ — $ 318 Operating lease liabilities – short term — 24,794 24,794 Total current liabilities 284,724 24,794 309,518 Operating lease liabilities – long term — 93,127 93,127 Other liabilities 762 — 762 Total liabilities 614,288 117,921 732,209 Total equity 420,338 — 420,338 Total liabilities and equity 1,034,626 $ 117,921 1,152,547 Maturities of lease liabilities were as follows: Year Ending December 31, Operating Leases Finance Leases 2019 (remainder) $ 16,402 $ 332 2020 31,412 610 2021 19,736 374 2022 14,973 99 2023 12,350 — Thereafter 70,291 — Total lease payments 165,164 1,415 Less imputed interest (49,639) (85) Total $ 115,525 $ 1,330 As previously disclosed in our 2018 Form 10-K and under the previous lease accounting standard, future minimum lease payments for leases having initial or remaining non-cancellable lease terms in excess of one year would have been as follows: Year Ending December 31, Operating Leases Capital Leases 2019 $ 36,110 $ 239 2020 29,318 212 2021 16,111 131 2022 11,571 89 2023 9,104 — Thereafter 26,627 — Total lease payments $ 128,841 $ 671
Leases	Leases We determine if an arrangement is a lease at inception. Operating leases are included in Operating lease right-of-use assets, Operating lease liabilities – short-term, and Operating lease liabilities – long-term in our Condensed Consolidated Balance Sheet. Finance leases are included in Property, plant and equipment – net, Accounts payable, and Other liabilities in our Condensed Consolidated Balance Sheets. ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. We use the implicit rate when readily determinable. The operating lease ROU asset also includes any lease payments made and excludes lease incentives. Our lease terms may include options to extend or terminate the lease and, when it is reasonably certain that such an option will be exercised, it is included in the determination of the corresponding assets and liabilities. Short-term leases are not recognized on our unaudited Condensed Consolidated Balance Sheets. Lease expense for all lease payments is recognized on a straight-line basis over the lease term. We have lease agreements with lease and non-lease components, which are generally accounted for separately. Additionally, for certain equipment leases, we apply a portfolio approach to effectively account for the operating lease ROU assets and liabilities. The Company has entered into agreements to lease transportation equipment, storage facilities, office space, dock access and other equipment. The leases have initial terms of up to 20 years with some containing renewal options subject to customary conditions. The components of lease expense were as follows: Three Months Ended Six Months Ended Finance lease cost: Amortization of right-of-use asset $ 157 $ 305 Interest on lease liabilities 17 35 Total finance lease cost 174 340 Operating lease cost 7,931 15,501 Short-term lease cost 4,116 8,397 Total lease cost $ 12,221 $ 24,238 Supplemental cash flow information related to leases was as follows: Six Months Ended Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 15,295 Operating cash flows from finance leases 30 Financing cash flows from finance leases 2,377 Non-cash information: Right-of-use assets obtained in exchange for lease obligations: Operating leases 9,419 Finance leases 593 Supplemental balance sheet information related to leases was as follows: June 30, Operating Leases Operating lease right-of-use assets $ 115,284 Operating lease liabilities – short term 26,022 Operating lease liabilities – long term 89,503 Total operating lease liabilities $ 115,525 Finance Leases Property, plant and equipment – gross $ 2,354 Accumulated depreciation (1,034) Property, plant and equipment – net $ 1,320 Accounts payable 591 Other liabilities 739 Total finance lease liabilities $ 1,330 Weighted Average Remaining Lease Term Operating leases 10.64 years Finance leases 2.38 years Weighted Average Discount Rate Operating leases 6.14 % Finance leases 5.20 % The cumulative effect of the changes made to the Condensed Consolidated Balance Sheets for the adoption of the new leasing standard on January 1, 2019 was as follows: Balance Sheet accounts prior to new leasing standard adoption adjustments Adjustments due to the adoption of the new leasing standard Balance Sheet accounts after the new leasing standard adoption adjustments ASSETS Property, plant and equipment – net $ 1,032 $ — $ 1,032 Operating lease right-of-use assets — 117,921 117,921 Total assets 1,034,626 $ 117,921 1,152,547 LIABILITIES AND EQUITY Current Liabilities: Accounts payable $ 318 $ — $ 318 Operating lease liabilities – short term — 24,794 24,794 Total current liabilities 284,724 24,794 309,518 Operating lease liabilities – long term — 93,127 93,127 Other liabilities 762 — 762 Total liabilities 614,288 117,921 732,209 Total equity 420,338 — 420,338 Total liabilities and equity 1,034,626 $ 117,921 1,152,547 Maturities of lease liabilities were as follows: Year Ending December 31, Operating Leases Finance Leases 2019 (remainder) $ 16,402 $ 332 2020 31,412 610 2021 19,736 374 2022 14,973 99 2023 12,350 — Thereafter 70,291 — Total lease payments 165,164 1,415 Less imputed interest (49,639) (85) Total $ 115,525 $ 1,330 As previously disclosed in our 2018 Form 10-K and under the previous lease accounting standard, future minimum lease payments for leases having initial or remaining non-cancellable lease terms in excess of one year would have been as follows: Year Ending December 31, Operating Leases Capital Leases 2019 $ 36,110 $ 239 2020 29,318 212 2021 16,111 131 2022 11,571 89 2023 9,104 — Thereafter 26,627 — Total lease payments $ 128,841 $ 671

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies The Company is subject to a number of lawsuits, investigations and disputes, some of which involve substantial amounts claimed, arising out of the conduct of the Company or other third-parties in the normal and ordinary course of business. A liability is recognized for any contingency that is probable of occurrence and reasonably estimable. The Company continually assesses the likelihood of adverse judgments or outcomes in these matters, as well as potential ranges of possible losses (taking into consideration any insurance recoveries), based on an analysis of each matter with the assistance of legal counsel and, if applicable, other experts. Given the uncertainty inherent in such lawsuits, investigations and disputes, the Company does not believe it is possible to develop estimates of reasonably possible loss in excess of current accruals for these matters. Considering the Company’s past experience and existing accruals, the Company does not expect the outcome of these matters, either individually or in the aggregate, to have a material adverse effect on the Company’s consolidated financial position, results of operations or cash flows. Potential liabilities are subject to change due to new developments, changes in settlement strategy or the impact of evidentiary requirements, which could cause the Company to pay damage awards or settlements (or become subject to equitable remedies) that could have a material adverse effect on the Company’s consolidated results of operations, balance sheet and/or operating cash flows in the periods recognized or paid. On March 13, 2018, a federal search warrant was executed at the Company’s Hopewell, Virginia manufacturing facility. On the same date, the Company was separately served with a grand jury subpoena issued by the U.S. District Court for the Eastern District of Virginia, which requested documents related to the Hopewell facility’s air emissions and its compliance with the terms of a previously disclosed 2013 consent decree with the federal government and the Commonwealth of Virginia. The Company was notified during the first quarter of 2019 that the U.S. Attorney’s Office for the Eastern District of Virginia had closed its investigation and no further action by the Company was required. On May 13, 2019, the Company announced that the United States government notified the Company that the balance of the criminal investigation concluded with no further action required. We assumed from Honeywell all health, safety and environmental (“HSE”) liabilities and compliance obligations related to the past and future operations of our current business, as well as all HSE liabilities associated with our three current manufacturing locations and the other locations used in our current operations, including any cleanup or other liabilities related to any contamination that may have occurred at such locations in the past. Honeywell retained all HSE liabilities related to former business locations or the operation of our former businesses. Although we have ongoing environmental remedial obligations at certain of our facilities, in the past three years, the associated remediation costs have not been material, and we do not expect our known remediation costs to be material for 2019.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2019
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company’s provision for income taxes in interim periods is computed by applying an estimated annual effective tax rate against Income before taxes for the period in addition to recording any tax effects of discrete items for the quarter. The provision for income taxes was $5.3 million and $9.6 million for the three months ended June 30, 2019 and 2018, respectively. The provision for income taxes was $12.1 million and $13.2 million for the six months ended June 30, 2019 and 2018, respectively.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Financial and non-financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. During the fourth quarter of 2018, the Company acquired a royalty stream which has been treated as an asset acquisition and entered into an interest rate swap transaction related to its credit agreement. The purchase price of the royalty stream for $1.0 million approximates its fair value at December 31, 2018 and is considered a Level 3 asset. The fair value measurement is based on the expected future cash flows and, as there is no reason to believe that the asset is impaired, it is assumed that the valuation remains unchanged at June 30, 2019. The fair value of the interest rate swap at June 30, 2019 was a loss of approximately $1.7 million and is considered a Level 2 liability. The pension plan assets are invested in collective investment trust funds. These investments are measured at fair value using the net asset value per share as a practical expedient. Investments valued using the net asset value method (NAV) (or its equivalent) practical expedient are excluded from the fair value hierarchy disclosure. The Company’s Condensed Consolidated Balance Sheets also include Cash and cash equivalents, Accounts receivable and Accounts payable all of which are recorded at amounts which approximate fair value. The Company also has assets that are required to be recorded at fair value on a non-recurring basis. These assets are evaluated when certain triggering events occur (including a decrease in estimated future cash flows) that indicate the asset should be evaluated for impairment. Goodwill and indefinite lived intangible assets must be evaluated at least annually.

Derivative and Hedging Instrume

Derivative and Hedging Instruments	6 Months Ended
	Jun. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative and Hedging Instruments	Derivative and Hedging Instruments The specific credit and market, commodity price and interest rate risks to which the Company is exposed in connection with its ongoing business operations are described below. This discussion includes an explanation of the hedging instrument, a rate swap agreement, used to manage the Company’s interest rate risk associated with a fixed and floating-rate borrowing. For cash flow hedges, the entire change in the fair value of the hedging instrument included in the assessment of hedge effectiveness is recorded in Other comprehensive income. Those amounts are reclassified to earnings in the same income statement line item that is used to present the earnings effect of the hedged item when the hedged item affects earnings. Credit and Market Risk – Financial instruments, including derivatives, expose the Company to counterparty credit risk for non-performance and to market risk related to changes in commodity prices, interest rates and foreign currency exchange rates. The Company manages its exposure to counterparty credit risk through specific minimum credit standards, diversification of counterparties, and procedures to monitor concentrations of credit risk. The Company’s counterparties in derivative transactions are substantial investment and commercial banks with significant experience using such derivative instruments. The Company monitors the impact of market risk on the fair value and cash flows of its derivative and other financial instruments considering reasonably possible changes in commodity prices, interest rates and foreign currency exchange rates and restricts the use of derivative financial instruments to hedging activities. The Company continually monitors the creditworthiness of its customers to which it grants credit terms in the normal course of business. The terms and conditions of credit sales are designed to mitigate or eliminate concentrations of credit risk with any single customer. The Company has one customer that accounted for approximately 13% and 22% of trade Accounts receivable – net at June 30, 2019 and December 31, 2018, respectively. Commodity Price Risk Management – The Company's exposure to market risk for commodity prices can result in changes in the cost of production. We primarily mitigate our exposure to commodity price risk by using long-term, formula-based price contracts with our suppliers and formula-based price agreements with customers. Our customer agreements provide for price adjustments based on relevant market indices and raw material prices and generally do not include take-or-pay terms. We may also enter into forward commodity contracts with third-parties designated as hedges of anticipated purchases of several commodities. Forward commodity contracts are marked-to-market, with the resulting gains and losses recognized in earnings, in the same category as the items being hedged, when the hedged transaction is recognized. At June 30, 2019 and 2018, we had no financial contracts related to forward commodity agreements. Interest Rate Risk Management – On November 6, 2018, the Company entered into an interest rate swap agreement for a notional amount of $50 million to exchange floating for fixed rate interest payments for our LIBOR-based borrowings. This interest rate swap had a fair value of zero at inception and was effective November 30, 2018. In accordance with FASB Accounting Standards Codification (“ASC”) ASC 815, the Company designated the interest rate swap as a cash flow hedge of floating-rate borrowings. This interest rate swap, with a maturity date of November 30, 2021, converts the Company’s interest rate payments on the first $50 million of variable-rate, 1-month LIBOR-based debt to a fixed interest rate. This interest rate swap involves the receipt of floating rate amounts in exchange for fixed rate interest payments over the life of the interest rate swap without an exchange of the underlying principal amount. Liability Derivatives June 30, 2019 December 31, 2018 Balance Sheet Classification Fair Value Balance Sheet Classification Fair Value Derivatives designated as hedging instruments under ASC 815: Interest Rate Contracts Accrued liabilities and Other liabilities (1,661) Accrued liabilities and Other liabilities (833) Total Derivatives $ (1,661) $ (833) The following table summarizes adjustments related to cash flow hedge included in Cash-flow hedges, in the Condensed Consolidated Statements of Comprehensive Income: June 30, Loss on derivative instruments included in Accumulated other comprehensive income at December 31, 2018 $ (833) Fair value adjustment (828) Loss on derivative instruments included in Accumulated other comprehensive income at June 30, 2019 $ (1,661) At June 30, 2019, the Company expects to reclassify approximately $0.4 million of net losses on derivative instruments from Accumulated other comprehensive income to earnings during the next 12 months due to the payment of variable interest associated with the floating rate debt.

Restructuring

Restructuring	6 Months Ended
	Jun. 30, 2019
Restructuring and Related Activities [Abstract]
Restructuring	Restructuring On May 2, 2019, the Company approved the closure of its Pottsville, Pennsylvania films plant as part of its broader strategic efforts to improve the Company’s competitive position in providing quality film products and services to its customers. The Company also announced a strategic alliance with Oben Holding Group S.A. (“Oben”), a third-party producer of films for the flexible packaging industry, leveraging the Company's sales channels and Nylon 6 supply with Oben's new state-of-the-art manufacturing facility. The Company ceased operations at the Pottsville, PA plant in July 2019. Restructuring costs consist of long-lived asset impairments, facility exit costs, employee separations and inventory write-downs. Facility exit costs include demolition, equipment relocation, contract terminations and project management costs. These costs are included in Cost of goods sold in the Condensed Consolidated Statements of Operations. The Company does not expect to incur any additional restructuring charges related to the closure of its films plant. Restructuring costs for the three months ended June 30, 2019 were as follows: Three Months Ended June 30, 2019 Write-off of equipment and facility $ 7,131 Facility exit costs 2,686 Employee separations 1,364 Inventory write-downs 1,442 Total restructuring charges $ 12,623 The following table summarizes the components of restructuring activities and the remaining balances of accrued restructuring charges as of June 30, 2019: Employee Separation Benefits Facility Exit Costs Total Accrual balance at December 31, 2018 $ — $ — $ — Charges 1,364 2,686 4,050 Cash payments — — — Accrual balance at June 30, 2019 $ 1,364 $ 2,686 $ 4,050 The balance of accrued restructuring charges are expected to be settled within the next twelve months.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2019
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsOn July 15, 2019, the Company entered into an additional interest rate swap agreement for an incremental notional amount of $50 million to exchange floating for fixed rate interest payments for our LIBOR-based borrowings. This interest rate swap is in addition to the $50 million interest rate swap entered into in November 2018, had a fair value of zero at inception, is effective July 31, 2019 and has been designated as a cash flow hedge. This interest rate swap agreement, with a maturity date of February 21, 2023, converts the Company's interest rate payments on an incremental $50 million of variable-rate, 1-month LIBOR-based debt to a fixed interest rate.

Recent Accounting Pronounceme_2

Recent Accounting Pronouncements (Policies)	6 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
Basis of Presentation	The Condensed Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and with the instructions to Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, the accompanying unaudited Condensed Consolidated Financial Statements contain all adjustments, consisting of only normal recurring adjustments, necessary for a fair statement of the Company's financial position as of June 30, 2019, and its results of operations and cash flows for the three and six months ended June 30, 2019 and 2018. The Condensed Consolidated Balance Sheet at December 31, 2018 was derived from audited annual financial statements but does not contain all of the footnote disclosures from the annual financial statements. The results of operations of any interim period are not necessarily indicative of the results of operations to be expected for the full fiscal year. These financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2018 (the "2018 Form 10-K"). All intercompany transactions have been eliminated. Certain prior period amounts have been reclassified for consistency with the current period presentation. It is our practice to establish actual quarterly closing dates using a predetermined fiscal calendar, which requires our businesses to close their books on a Saturday in order to minimize the potentially disruptive effects of quarterly closing on our business processes. Historically, the effects of this practice were generally not significant to reported results for any quarter and only existed within a reporting year. In the event that differences in actual closing dates are material to year-over-year comparisons of quarterly or year-to-date results, we will provide the appropriate disclosures. Our actual closing dates for the three and six months ended June 30, 2019 and 2018 wer e June 29, 2019 and June 30, 2018, respe ctively.
New Accounting Pronouncements	In October 2018, the FASB issued ASU No. 2018-16, Derivatives and Hedging (Topic 815): Inclusion of the Secured Overnight Financing Rate (“ SOFR ”) Overnight Index Swap (“ OIS ”) Rate as a Benchmark Interest Rate for Hedge Accounting Purposes, which permits use of the OIS rate based on SOFR as a U.S. benchmark interest rate for hedge accounting purposes under Topic 815 in addition to the interest rates on direct Treasury obligations of the U.S. government (“UST”), the LIBOR swap rate, the OIS rate based on the Fed Funds Effective Rate and the SIFMA Municipal Swap Rate. Pursuant to the amendments, SOFR will be an option to replace LIBOR as it is phased out. The amendments of ASU No. 2018-16 are effective for companies that have adopted ASU 2017-12 for fiscal years beginning after December 15, 2018, including interim periods within that fiscal year or at such time a company adopts ASU 2017-12. Early adoption of ASU 2018-16 is not permitted without previous adoption of ASU 2017-12. As the Company elected to early adopt ASU 2017-12 during the fourth quarter of 2018, the Company adopted ASU 2018-16 effective January 1, 2019, which did not have a material impact on the Company's consolidated financial position or results of operations upon adoption. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) , which requires lessees to recognize most leases on their balance sheets related to the rights and obligations created by those leases. The new standard also requires disclosures to help financial statement users better understand the amount, timing, and uncertainty of cash flows arising from leases and will be effective for interim and annual periods beginning after December 15, 2018 (early adoption is permitted). Initial guidance stated that the new standard be applied under a modified retrospective approach with periods prior to the adoption date being adjusted. During July 2018, however, the FASB issued ASU 2018-11, Leases (Topic 842) , providing another transition method allowing a company to recognize a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption without adjusting prior periods. The Company adopted the standard effective January 1, 2019 electing the cumulative-effect adjustment approach made available in ASU 2018-11. The Company has also elected the following practical expedients: • the package of three expedients which allows the Company not to re-assess (i) whether any expired or existing contracts are or contain leases, (ii) lease classification for any expired or existing leases, and (iii) initial direct costs for any expired or existing leases; • the short-term lease practical expedient, which allows the Company to exclude leases with an initial term of 12 months or less (“short-term leases”) from recognition in the unaudited Condensed Consolidated Balance Sheet; • the bifurcation of lease and non-lease components practical expedients, which did not require the Company to bifurcate lease and non-lease components for our real estate leases; and • the land easements practical expedient, which allows the Company to carry forward the accounting treatment for land easements on existing agreements.

Revenues (Tables)

Revenues (Tables)	6 Months Ended
	Jun. 30, 2019
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	Each of the Company’s product lines represented the following approximate percentage of total sales for the three and six months ended June 30, 2019 and 2018: Three Months Ended Six Months Ended 2019 2018 2019 2018 Nylon 27% 27% 29% 28% Caprolactam 20% 19% 20% 18% Ammonium Sulfate Fertilizers 27% 21% 25% 20% Chemical Intermediates 26% 33% 26% 34% 100% 100% 100% 100% The Company's revenues by geographic area for the three and six months ended June 30, 2019 and 2018 were as follows: Three Months Ended Six Months Ended 2019 2018 2019 2018 United States $ 289,551 $ 342,497 $ 547,193 $ 640,145 International 55,664 57,962 112,917 119,552 Total $ 345,215 $ 400,459 $ 660,110 $ 759,697
Summary of Deferred Income and Customer Advances	Below is a roll-forward of Deferred income and customer advances for the six months ended June 30, 2019: Opening balance January 1, 2019 $ 22,556 Additional cash advances 1,083 Less amounts recognized in revenues (20,455) Ending balance June 30, 2019 $ 3,184

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2019
Earnings Per Share [Abstract]
Schedule of Earnings Per Share	The details of the basic and diluted EPS calculations for the three and six months ended June 30, 2019 and 2018 were a s follows: Three Months Ended Six Months Ended 2019 2018 2019 2018 Basic Net Income $ 15,346 $ 28,410 $ 35,520 $ 40,003 Weighted average common shares outstanding 28,162,007 30,481,627 28,489,486 30,485,095 EPS – Basic $ 0.54 $ 0.93 $ 1.25 $ 1.31 Diluted Dilutive effect of equity awards and other stock-based holdings 974,972 823,541 970,663 809,228 Weighted average common shares outstanding 29,136,979 31,305,168 29,460,149 31,294,323 EPS – Diluted $ 0.53 $ 0.91 $ 1.21 $ 1.28

Accounts and Other Receivable_2

Accounts and Other Receivables - Net (Tables)	6 Months Ended
	Jun. 30, 2019
Receivables [Abstract]
Schedule of Accounts and Other Receivables Net	June 30, December 31, Accounts receivables $ 125,887 $ 166,017 Other 3,901 1,716 Total accounts and other receivables 129,788 167,733 Less – allowance for doubtful accounts (2,262) (7,467) Total accounts and other receivables – net $ 127,526 $ 160,266

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2019
Inventory Disclosure [Abstract]
Schedule of Inventory, Current	June 30, December 31, Raw materials $ 46,109 $ 55,002 Work in progress 54,030 46,728 Finished goods 45,333 39,368 Spares and other 24,313 24,555 169,785 165,653 Reduction to LIFO cost basis (31,551) (28,471) Total inventories – net $ 138,234 $ 137,182

Postretirement Benefit Cost (Ta

Postretirement Benefit Cost (Tables)	6 Months Ended
	Jun. 30, 2019
Retirement Benefits [Abstract]
Schedule of Net Benefit Costs	The components of Net periodic benefit cost of the Company’s pension plan are as follows: Three Months Ended Six Months Ended 2019 2018 2019 2018 Service cost $ 1,714 $ 2,001 $ 3,427 $ 4,003 Interest cost 521 469 1,042 938 Expected return on plan assets (334) (287) (668) (575) Net periodic benefit cost $ 1,901 $ 2,183 $ 3,801 $ 4,366

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2019
Leases [Abstract]
Components of Lease Expense	The components of lease expense were as follows: Three Months Ended Six Months Ended Finance lease cost: Amortization of right-of-use asset $ 157 $ 305 Interest on lease liabilities 17 35 Total finance lease cost 174 340 Operating lease cost 7,931 15,501 Short-term lease cost 4,116 8,397 Total lease cost $ 12,221 $ 24,238 Supplemental cash flow information related to leases was as follows: Six Months Ended Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 15,295 Operating cash flows from finance leases 30 Financing cash flows from finance leases 2,377 Non-cash information: Right-of-use assets obtained in exchange for lease obligations: Operating leases 9,419 Finance leases 593
Supplemental Balance Sheet Information	Supplemental balance sheet information related to leases was as follows: June 30, Operating Leases Operating lease right-of-use assets $ 115,284 Operating lease liabilities – short term 26,022 Operating lease liabilities – long term 89,503 Total operating lease liabilities $ 115,525 Finance Leases Property, plant and equipment – gross $ 2,354 Accumulated depreciation (1,034) Property, plant and equipment – net $ 1,320 Accounts payable 591 Other liabilities 739 Total finance lease liabilities $ 1,330 Weighted Average Remaining Lease Term Operating leases 10.64 years Finance leases 2.38 years Weighted Average Discount Rate Operating leases 6.14 % Finance leases 5.20 %
Schedule of New Accounting Pronouncements	The cumulative effect of the changes made to the Condensed Consolidated Balance Sheets for the adoption of the new leasing standard on January 1, 2019 was as follows: Balance Sheet accounts prior to new leasing standard adoption adjustments Adjustments due to the adoption of the new leasing standard Balance Sheet accounts after the new leasing standard adoption adjustments ASSETS Property, plant and equipment – net $ 1,032 $ — $ 1,032 Operating lease right-of-use assets — 117,921 117,921 Total assets 1,034,626 $ 117,921 1,152,547 LIABILITIES AND EQUITY Current Liabilities: Accounts payable $ 318 $ — $ 318 Operating lease liabilities – short term — 24,794 24,794 Total current liabilities 284,724 24,794 309,518 Operating lease liabilities – long term — 93,127 93,127 Other liabilities 762 — 762 Total liabilities 614,288 117,921 732,209 Total equity 420,338 — 420,338 Total liabilities and equity 1,034,626 $ 117,921 1,152,547
Maturities of Finance Lease Liabilities	Maturities of lease liabilities were as follows: Year Ending December 31, Operating Leases Finance Leases 2019 (remainder) $ 16,402 $ 332 2020 31,412 610 2021 19,736 374 2022 14,973 99 2023 12,350 — Thereafter 70,291 — Total lease payments 165,164 1,415 Less imputed interest (49,639) (85) Total $ 115,525 $ 1,330
Maturities of Operating Lease Liabilities	Maturities of lease liabilities were as follows: Year Ending December 31, Operating Leases Finance Leases 2019 (remainder) $ 16,402 $ 332 2020 31,412 610 2021 19,736 374 2022 14,973 99 2023 12,350 — Thereafter 70,291 — Total lease payments 165,164 1,415 Less imputed interest (49,639) (85) Total $ 115,525 $ 1,330
Schedule of Future Minimum Rental Payments for Operating Leases	As previously disclosed in our 2018 Form 10-K and under the previous lease accounting standard, future minimum lease payments for leases having initial or remaining non-cancellable lease terms in excess of one year would have been as follows: Year Ending December 31, Operating Leases Capital Leases 2019 $ 36,110 $ 239 2020 29,318 212 2021 16,111 131 2022 11,571 89 2023 9,104 — Thereafter 26,627 — Total lease payments $ 128,841 $ 671
Schedule of Future Minimum Lease Payments for Capital Leases	As previously disclosed in our 2018 Form 10-K and under the previous lease accounting standard, future minimum lease payments for leases having initial or remaining non-cancellable lease terms in excess of one year would have been as follows: Year Ending December 31, Operating Leases Capital Leases 2019 $ 36,110 $ 239 2020 29,318 212 2021 16,111 131 2022 11,571 89 2023 9,104 — Thereafter 26,627 — Total lease payments $ 128,841 $ 671

Derivative and Hedging Instru_2

Derivative and Hedging Instruments (Tables)	6 Months Ended
	Jun. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	Liability Derivatives June 30, 2019 December 31, 2018 Balance Sheet Classification Fair Value Balance Sheet Classification Fair Value Derivatives designated as hedging instruments under ASC 815: Interest Rate Contracts Accrued liabilities and Other liabilities (1,661) Accrued liabilities and Other liabilities (833) Total Derivatives $ (1,661) $ (833)
Derivative Instruments, Gain (Loss)	The following table summarizes adjustments related to cash flow hedge included in Cash-flow hedges, in the Condensed Consolidated Statements of Comprehensive Income: June 30, Loss on derivative instruments included in Accumulated other comprehensive income at December 31, 2018 $ (833) Fair value adjustment (828) Loss on derivative instruments included in Accumulated other comprehensive income at June 30, 2019 $ (1,661)

Restructuring (Tables)

Restructuring (Tables)	6 Months Ended
	Jun. 30, 2019
Restructuring and Related Activities [Abstract]
Restructuring and Related Costs	Restructuring costs for the three months ended June 30, 2019 were as follows: Three Months Ended June 30, 2019 Write-off of equipment and facility $ 7,131 Facility exit costs 2,686 Employee separations 1,364 Inventory write-downs 1,442 Total restructuring charges $ 12,623
Schedule of Restructuring Reserve by Type of Cost	The following table summarizes the components of restructuring activities and the remaining balances of accrued restructuring charges as of June 30, 2019: Employee Separation Benefits Facility Exit Costs Total Accrual balance at December 31, 2018 $ — $ — $ — Charges 1,364 2,686 4,050 Cash payments — — — Accrual balance at June 30, 2019 $ 1,364 $ 2,686 $ 4,050 The balance of accrued restructuring charges are expected to be settled within the next twelve months.

Organization, Operations and _2

Organization, Operations and Basis of Presentation (Details) - USD ($)	3 Months Ended		6 Months Ended	14 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2019	Jun. 30, 2019	Feb. 22, 2019	May 04, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Liabilities to creditors, payments issued but outstanding		$ 7,700,000	$ 6,700,000
Share repurchase program, maximum amount of shares authorized to be repurchased					$ 75,000,000	$ 75,000,000
Stock repurchased during period (in shares)				2,555,713
Stock repurchased during period, value				$ 77,700,000
Treasury stock acquired, weighted average cost per share (in dollars per share)				$ 30.40
Stock repurchase program, remaining authorized repurchase amount	$ 72,300,000		72,300,000	$ 72,300,000
Cost of Sales
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Insurance recoveries	$ 2,300,000	$ 6,600,000	$ 12,000,000

Revenues - Narrative (Details)

Revenues - Narrative (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019countrycustomer	Jun. 30, 2018
Concentration Risk [Line Items]
Number of customers | customer			500
Number of countries in which customers are located (more than) | country			40
Length of contract terms			We typically sell to customers under master service agreements, with one- to two-year terms on average, or by purchase orders.
Duration of customer relationship			20 years
10 Largest Customers | Customer Concentration Risk | Revenue from Contract with Customer
Concentration Risk [Line Items]
Concentration risk percentage	47.00%	45.00%	46.00%	45.00%
Shaw Industries Group Inc | Customer Concentration Risk | Revenue from Contract with Customer
Concentration Risk [Line Items]
Concentration risk percentage	19.00%	22.00%	21.00%	22.00%

Revenues - Disaggregation of Re

Revenues - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Disaggregation of Revenue [Line Items]
Percentage of sales	100.00%	100.00%	100.00%	100.00%
Sales	$ 345,215	$ 400,459	$ 660,110	$ 759,697
United States
Disaggregation of Revenue [Line Items]
Sales	289,551	342,497	547,193	640,145
International
Disaggregation of Revenue [Line Items]
Sales	$ 55,664	$ 57,962	$ 112,917	$ 119,552
Nylon
Disaggregation of Revenue [Line Items]
Percentage of sales	27.00%	27.00%	29.00%	28.00%
Caprolactam
Disaggregation of Revenue [Line Items]
Percentage of sales	20.00%	19.00%	20.00%	18.00%
Ammonium Sulfate Fertilizers
Disaggregation of Revenue [Line Items]
Percentage of sales	27.00%	21.00%	25.00%	20.00%
Chemical Intermediates
Disaggregation of Revenue [Line Items]
Percentage of sales	26.00%	33.00%	26.00%	34.00%

Revenues - Summary of Deferred

Revenues - Summary of Deferred Revenue and Customer Advances (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2019USD ($)
Change in Contract with Customer, Liability [Roll Forward]
Opening balance	$ 22,556
Additional cash advances	1,083
Less amounts recognized in revenues	(20,455)
Ending balance	$ 3,184

Earnings Per Share - Schedule o

Earnings Per Share - Schedule of Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Mar. 31, 2018	Jun. 30, 2019	Jun. 30, 2018
Basic
Net Income	$ 15,346	$ 20,174	$ 28,410	$ 11,593	$ 35,520	$ 40,003
Weighted average common shares outstanding (in shares)	28,162,007		30,481,627		28,489,486	30,485,095
EPS – Basic (in dollars per share)	$ 0.54		$ 0.93		$ 1.25	$ 1.31
Diluted
Dilutive effect of equity awards and other stock-based holdings (in shares)	974,972		823,541		970,663	809,228
Weighted average common shares outstanding (in shares)	29,136,979		31,305,168		29,460,149	31,294,323
EPS – Diluted (in dollars per share)	$ 0.53		$ 0.91		$ 1.21	$ 1.28

Earnings Per Share - Narrative

Earnings Per Share - Narrative (Details) - shares shares in Thousands	3 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Employee Stock Option
Earnings Per Share [Line Items]
Weighted average number of stock options excluded form computation of diluted earnings per share (in shares)	539,054	128,777

Accounts and Other Receivable_3

Accounts and Other Receivables - Net (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Receivables [Abstract]
Accounts receivables	$ 125,887	$ 166,017
Other	3,901	1,716
Total accounts and other receivables	129,788	167,733
Less – allowance for doubtful accounts	(2,262)	(7,467)
Total accounts and other receivables – net	127,526	$ 160,266
Accounts receivable, allowance for doubtful accounts write-off	$ 5,100

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Inventory Disclosure [Abstract]
Raw materials	$ 46,109	$ 55,002
Work in progress	54,030	46,728
Finished goods	45,333	39,368
Spares and other	24,313	24,555
Inventory gross	169,785	165,653
Reduction to LIFO cost basis	(31,551)	(28,471)
Total inventories – net	$ 138,234	$ 137,182

Postretirement Benefit Cost - N

Postretirement Benefit Cost - Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Retirement Benefits [Abstract]
Service costs	$ 1,714	$ 2,001	$ 3,427	$ 4,003
Interest costs	521	469	1,042	938
Expected return on plan assets	(334)	(287)	(668)	(575)
Net periodic benefit cost	$ 1,901	$ 2,183	$ 3,801	$ 4,366

Postretirement Benefit Cost -_2

Postretirement Benefit Cost - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2019	Dec. 31, 2019
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Pension contributions	$ 0.5
Scenario, Forecast | Minimum
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Pension contributions		$ 4
Scenario, Forecast | Maximum
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Pension contributions		$ 6

Leases - Narrative (Details)

Leases - Narrative (Details)	Jun. 30, 2019
Leases [Abstract]
Leases, term of contract	20 years

Leases - Components of Lease Ex

Leases - Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019
Finance Lease Cost
Amortization of right-of-use asset	$ 157	$ 305
Interest on lease liabilities	17	35
Total finance lease cost	174	340
Operating lease cost	7,931	15,501
Short-term lease cost	4,116	8,397
Total lease cost	$ 12,221	$ 24,238

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow Information (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2019USD ($)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 15,295
Operating cash flows from finance leases	30
Financing cash flows from finance leases	2,377
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	9,419
Finance leases	$ 593

Leases - Supplemental Balance S

Leases - Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Jan. 01, 2019	Dec. 31, 2018
Operating Leases
Operating lease right-of-use assets	$ 115,284	$ 117,921	$ 0
Operating lease liabilities – short-term	26,022	24,794	0
Operating lease liabilities – long-term	89,503	93,127	$ 0
Total operating lease liabilities	115,525
Finance Leases
Property, plant and equipment – gross	2,354
Accumulated depreciation	(1,034)
Property, plant and equipment – net	1,320	$ 1,032
Accounts payable	591
Other liabilities	739
Total finance lease liabilities	$ 1,330
Weighted Average Remaining Lease Term
Operating leases	10 years 7 months 20 days
Finance leases	2 years 4 months 17 days
Weighted Average Discount Rate
Operating leases	6.14%
Finance leases	5.20%

Leases - Cumulative Effect of A

Leases - Cumulative Effect of Adoption of New Leasing Standard (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Jan. 01, 2019	Dec. 31, 2018
ASSETS
Property, plant and equipment - net			$ 1,032
Property, plant and equipment – net	$ 1,320	$ 1,032
Operating lease right-of-use assets	115,284	117,921	0
Total assets	1,162,886	1,152,547	1,034,626
Current liabilities:
Accounts Payable		318	318
Operating lease liabilities – short-term	26,022	24,794	0
Total current liabilities	253,727	309,518	284,724
Operating lease liabilities – long-term	89,503	93,127	0
Other liabilities		762	762
Total liabilities	742,323	732,209	614,288
Total equity		420,338	420,338
Total liabilities and equity	$ 1,162,886	1,152,547	$ 1,034,626
Accounting Standards Update 2016-02
ASSETS
Property, plant and equipment – net		0
Operating lease right-of-use assets		117,921
Total assets		117,921
Current liabilities:
Accounts Payable		0
Operating lease liabilities – short-term		24,794
Total current liabilities		24,794
Operating lease liabilities – long-term		93,127
Other liabilities		0
Total liabilities		117,921
Total equity		0
Total liabilities and equity		$ 117,921

Leases - Maturities of Lease Li

Leases - Maturities of Lease Liabilities After Adoption (Details) $ in Thousands	Jun. 30, 2019USD ($)
Operating Leases
2019 (remainder)	$ 16,402
2020	31,412
2021	19,736
2022	14,973
2023	12,350
Thereafter	70,291
Total lease payments	165,164
Less imputed interest	(49,639)
Total	115,525
Finance Leases
2019 (remainder)	332
2020	610
2021	374
2022	99
2023	0
Thereafter	0
Total lease payments	1,415
Less imputed interest	(85)
Total	$ 1,330

Leases - Future Minimum Lease P

Leases - Future Minimum Lease Payments Before Adoption (Details) $ in Thousands	Dec. 31, 2018USD ($)
Operating Leases
2019	$ 36,110
2020	29,318
2021	16,111
2022	11,571
2023	9,104
Thereafter	26,627
Total lease payments	128,841
Capital Leases
2019	239
2020	212
2021	131
2022	89
2023	0
Thereafter	0
Total lease payments	$ 671

Commitments and Contingencies (

Commitments and Contingencies (Details)	6 Months Ended
	Jun. 30, 2019customer
Commitments and Contingencies Disclosure [Abstract]
Number of manufacturing locations	3

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Income Tax Disclosure [Abstract]
Income taxes	$ 5,280	$ 9,590	$ 12,104	$ 13,156

Fair Value Measurements (Detail

Fair Value Measurements (Details) $ in Millions	Jun. 30, 2019USD ($)
Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Royalty agreement, asset, fair value	$ 1
Fair Value, Inputs, Level 2 | Interest Rate Contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability, fair value	$ (1.7)

Derivative and Hedging Instru_3

Derivative and Hedging Instruments - Narrative (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018	Nov. 30, 2018	Nov. 06, 2018
Derivative Instruments, Gain (Loss) [Line Items]
Derivative loss reclassification from AOCI to income	$ 400,000
Customer Concentration Risk | Accounts Receivable | One Customer
Derivative Instruments, Gain (Loss) [Line Items]
Concentration risk percentage	13.00%	22.00%
Interest Rate Swap
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, notional amount			$ 50,000,000	$ 50,000,000
Derivative liability, fair value			$ 0	$ 0
Derivative, amount of hedged item	$ 50,000,000

Derivative and Hedging Instru_4

Derivative and Hedging Instruments - Balance Sheet Classification (Details) - Designated as Hedging Instrument - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Derivative [Line Items]
Derivative liability, fair value	$ (1,661)	$ (833)
Interest Rate Contracts
Derivative [Line Items]
Derivative liability, fair value	$ (1,661)	$ (833)

Derivative and Hedging Instru_5

Derivative and Hedging Instruments - Adjustments Related to Cash Flow Hedges on the Comprehensive Income Statement (Details) - Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent $ in Thousands	6 Months Ended
	Jun. 30, 2019USD ($)
AOCI Attributable To Parent, Before Tax [Roll Forward]
Loss on derivative instruments included in Accumulated other comprehensive income at December 31, 2018	$ (833)
Fair value adjustment	(828)
Loss on derivative instruments included in Accumulated other comprehensive income at June 30, 2019	$ (1,661)

Restructuring - Restructuring C

Restructuring - Restructuring Costs (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019	Jun. 30, 2018
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	$ 12,623	$ 12,623	$ 0
Write-off of equipment and facility
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	7,131
Employee separations
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	2,686
Facility exit costs
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	1,364
Inventory write-downs
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	$ 1,442

Restructuring - Components of R

Restructuring - Components of Restructuring Activities (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2019USD ($)
Restructuring Reserve [Roll Forward]
Accrual balance at December 31, 2018	$ 0
Restructuring charges	4,050
Cash payments	0
Accrual balance at June 30, 2019	4,050
Employee separations
Restructuring Reserve [Roll Forward]
Accrual balance at December 31, 2018	0
Restructuring charges	1,364
Cash payments	0
Accrual balance at June 30, 2019	1,364
Facility exit costs
Restructuring Reserve [Roll Forward]
Accrual balance at December 31, 2018	0
Restructuring charges	2,686
Cash payments	0
Accrual balance at June 30, 2019	$ 2,686

Subsequent Events (Details)

Subsequent Events (Details) - Interest Rate Swap - USD ($)	Jul. 15, 2019	Jun. 30, 2019	Nov. 30, 2018	Nov. 06, 2018
Derivative [Line Items]
Derivative, notional amount			$ 50,000,000	$ 50,000,000
Derivative liability, fair value			$ 0	$ 0
Derivative, amount of hedged item		$ 50,000,000
Subsequent Event
Derivative [Line Items]
Derivative, notional amount	$ 50,000,000
Derivative, amount of hedged item	$ 50,000,000