Ferro (FOE) 10-Q 3 Nov 21 2021 Q3 Quarterly report Financial data

Cover

Cover	9 Months Ended
	Sep. 30, 2021shares
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2021
Document Transition Report	false
Entity File Number	1-584
Entity Registrant Name	FERRO CORPORATION
Entity Incorporation, State or Country Code	OH
Entity Tax Identification Number	34-0217820
Entity Address, Address Line One	6060 Parkland Boulevard
Entity Address, Address Line Two	Suite 250
Entity Address, City or Town	Mayfield Heights
Entity Address, State or Province	OH
Entity Address, Postal Zip Code	44124
City Area Code	216
Local Phone Number	875-5600
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
Title of 12(b) Security	Common Stock, par value $1.00
Trading Symbol	FOE
Security Exchange Name	NYSE
Entity Common Stock, Shares Outstanding	82,742,307
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Amendment Flag	false
Entity Central Index Key	0000035214

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Statement [Abstract]
Net sales	$ 277,228	$ 241,877	$ 859,917	$ 699,004
Cost of sales	193,850	171,711	586,601	484,356
Gross profit	83,378	70,166	273,316	214,648
Selling, general and administrative expenses	54,520	47,820	167,384	154,407
Restructuring and impairment charges	602	2,447	7,756	12,231
Other expense (income):
Interest expense	5,436	4,767	19,879	16,474
Interest earned	(88)	(474)	(737)	(1,035)
Foreign currency losses, net	426	1,450	4,793	1,278
Loss on extinguishment of debt	0	0	1,981	0
Miscellaneous income, net	(2,997)	(438)	(5,350)	(2,604)
Income before income taxes	25,479	14,594	77,610	33,897
Income tax expense	13,800	5,047	29,946	10,364
Income from continuing operations	11,679	9,547	47,664	23,533
Income (loss) from discontinued operations, net of income taxes	(822)	5,367	87,484	2,350
Net income	10,857	14,914	135,148	25,883
Less: Net income attributable to noncontrolling interests	482	440	1,301	826
Net income attributable to Ferro Corporation common shareholders	$ 10,375	$ 14,474	$ 133,847	$ 25,057
Basic earnings (loss):
Continuing operations (in USD per share)	$ 0.14	$ 0.11	$ 0.56	$ 0.28
Discontinued operations (in USD per share)	(0.01)	0.07	1.06	0.03
Basic earnings (in USD per share)	0.13	0.18	1.62	0.31
Diluted earnings (loss):
Continuing operations (in USD per share)	0.13	0.11	0.56	0.27
Discontinued operations (in USD per share)	(0.01)	0.06	1.05	0.03
Diluted earnings (in USD per share)	$ 0.12	$ 0.17	$ 1.61	$ 0.30

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 10,857	$ 14,914	$ 135,148	$ 25,883
Other comprehensive income (loss), net of income tax:
Foreign currency translation gain (loss)	(3,997)	13,831	(64,411)	(678)
Cash flow hedging instruments, unrealized income (loss)	1,553	269	9,622	(10,331)
Postretirement benefit liabilities income	2	0	131	0
Other comprehensive income (loss), net of income tax	(2,442)	14,100	(54,658)	(11,009)
Total comprehensive income	8,415	29,014	80,490	14,874
Less: Comprehensive income attributable to noncontrolling interests	935	197	1,141	453
Comprehensive income attributable to Ferro Corporation	$ 7,480	$ 28,817	$ 79,349	$ 14,421

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Current assets
Cash and cash equivalents	$ 148,754	$ 174,077
Accounts receivable, net	157,610	137,008
Inventories	267,994	260,332
Other receivables	65,654	72,272
Other current assets	20,835	18,261
Current assets held-for-sale	0	307,854
Total current assets	660,847	969,804
Other assets
Property, plant and equipment, net	326,982	330,045
Goodwill	172,968	175,351
Intangible assets, net	110,049	119,500
Deferred income taxes	108,426	115,962
Operating leased assets	13,387	15,446
Other non-current assets	26,604	80,618
Non-current assets held-for-sale	0	154,207
Total assets	1,419,263	1,960,933
Current liabilities
Loans payable and current portion of long-term debt	8,888	8,839
Accounts payable	127,526	135,296
Accrued payrolls	38,642	27,166
Accrued expenses and other current liabilities	147,456	124,770
Current liabilities held-for-sale	0	107,545
Total current liabilities	322,512	403,616
Other liabilities
Long-term debt, less current portion	352,695	791,509
Postretirement and pension liabilities	161,548	181,610
Operating leased non-current liabilities	8,624	10,064
Other non-current liabilities	51,882	62,050
Non-current liabilities held-for-sale	0	71,149
Total liabilities	897,261	1,519,998
Ferro Corporation shareholders’ equity:
Common stock, par value $1.00 per share; 300.0 million shares authorized; 93.4 million shares issued; 82.7 million and 82.4 million shares outstanding at September 30, 2021, and December 31, 2020, respectively	93,436	93,436
Paid-in capital	289,899	293,682
Retained earnings	438,662	304,815
Accumulated other comprehensive loss	(144,208)	(89,710)
Common shares in treasury, at cost	(165,008)	(172,256)
Total Ferro Corporation shareholders’ equity	512,781	429,967
Noncontrolling interests	9,221	10,968
Total equity	522,002	440,935
Total liabilities and equity	$ 1,419,263	$ 1,960,933

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares shares in Millions	Sep. 30, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Common stock, par value (in USD per share)	$ 1	$ 1
Common stock, shares authorized	300	300
Common stock, shares issued	93.4	93.4
Common stock, shares outstanding	82.7	82.4

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common Shares in Treasury	Common Stock	Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Non- controlling Interests
Beginning balance (in shares) at Dec. 31, 2019		11,431
Beginning balance at Dec. 31, 2019	$ 370,202	$ (180,243)	$ 93,436	$ 294,543	$ 262,016	$ (109,376)	$ 9,826
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	16,133				16,123		10
Other comprehensive income (loss)	(27,406)					(27,312)	(94)
Stock-based compensation transactions (in shares)		(238)
Stock-based compensation transactions	2,609	$ 5,332		(2,723)
Ending balance (in shares) at Mar. 31, 2020		11,193
Ending balance at Mar. 31, 2020	361,538	$ (174,911)	93,436	291,820	278,139	(136,688)	9,742
Beginning balance (in shares) at Dec. 31, 2019		11,431
Beginning balance at Dec. 31, 2019	370,202	$ (180,243)	93,436	294,543	262,016	(109,376)	9,826
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	25,883
Other comprehensive income (loss)	(11,009)
Ending balance (in shares) at Sep. 30, 2020		11,145
Ending balance at Sep. 30, 2020	390,908	$ (173,945)	93,436	294,077	287,073	(120,012)	10,279
Beginning balance (in shares) at Mar. 31, 2020		11,193
Beginning balance at Mar. 31, 2020	361,538	$ (174,911)	93,436	291,820	278,139	(136,688)	9,742
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(5,164)				(5,540)		376
Other comprehensive income (loss)	2,297					2,333	(36)
Stock-based compensation transactions (in shares)		(8)
Stock-based compensation transactions	1,984	$ 159		1,825
Ending balance (in shares) at Jun. 30, 2020		11,185
Ending balance at Jun. 30, 2020	360,655	$ (174,752)	93,436	293,645	272,599	(134,355)	10,082
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	14,914				14,474		440
Other comprehensive income (loss)	14,100					14,343	(243)
Stock-based compensation transactions (in shares)		(40)
Stock-based compensation transactions	1,239	$ 807		432
Ending balance (in shares) at Sep. 30, 2020		11,145
Ending balance at Sep. 30, 2020	390,908	$ (173,945)	93,436	294,077	287,073	(120,012)	10,279
Beginning balance (in shares) at Dec. 31, 2020		11,065
Beginning balance at Dec. 31, 2020	440,935	$ (172,256)	93,436	293,682	304,815	(89,710)	10,968
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	108,400				107,963		437
Other comprehensive income (loss)	(54,185)					(54,111)	(74)
Change in ownership interest	(5,418)			(2,530)			(2,888)
Stock-based compensation transactions (in shares)		(255)
Stock-based compensation transactions	2,540	$ 5,154		(2,614)
Ending balance (in shares) at Mar. 31, 2021		10,810
Ending balance at Mar. 31, 2021	492,272	$ (167,102)	93,436	288,538	412,778	(143,821)	8,443
Beginning balance (in shares) at Dec. 31, 2020		11,065
Beginning balance at Dec. 31, 2020	440,935	$ (172,256)	93,436	293,682	304,815	(89,710)	10,968
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	135,148
Other comprehensive income (loss)	(54,658)
Ending balance (in shares) at Sep. 30, 2021		10,693
Ending balance at Sep. 30, 2021	522,002	$ (165,008)	93,436	289,899	438,662	(144,208)	9,221
Beginning balance (in shares) at Mar. 31, 2021		10,810
Beginning balance at Mar. 31, 2021	492,272	$ (167,102)	93,436	288,538	412,778	(143,821)	8,443
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	15,891				15,509		382
Other comprehensive income (loss)	1,969					2,508	(539)
Stock-based compensation transactions (in shares)		(79)
Stock-based compensation transactions	2,160	$ 1,413		747
Ending balance (in shares) at Jun. 30, 2021		10,731
Ending balance at Jun. 30, 2021	512,292	$ (165,689)	93,436	289,285	428,287	(141,313)	8,286
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	10,857				10,375		482
Other comprehensive income (loss)	(2,442)					(2,895)	453
Stock-based compensation transactions (in shares)		(38)
Stock-based compensation transactions	1,295	$ 681		614
Ending balance (in shares) at Sep. 30, 2021		10,693
Ending balance at Sep. 30, 2021	$ 522,002	$ (165,008)	$ 93,436	$ 289,899	$ 438,662	$ (144,208)	$ 9,221

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash flows from operating activities
Net cash used in operating activities	$ (64,949)	$ (106,481)
Cash flows from investing activities
Capital expenditures for property, plant and equipment and other long-lived assets	(25,684)	(21,681)
Collections of financing receivables	90,662	97,299
Proceeds from sale of businesses, net	415,230	0
Business acquisitions, net of cash acquired	(2,200)	0
Other investing activities	436	803
Net cash provided by investing activities	478,444	76,421
Cash flows from financing activities
Net payments under loans payable	(31)	(683)
Principal payments on term loan facility - Amended Credit Facility	(441,150)	(6,150)
Proceeds from revolving credit facility - Amended Credit Facility	50,000	398,336
Principal payments on revolving credit facility - Amended Credit Facility	(50,000)	(392,596)
Other financing activities	(4,022)	(728)
Net cash used in financing activities	(445,203)	(1,821)
Effect of exchange rate changes on cash and cash equivalents	(1,815)	174
Decrease in cash and cash equivalents	(33,523)	(31,707)
Cash and cash equivalents at beginning of period	182,277	104,402
Cash and cash equivalents at end of period	148,754	72,695
Less: Cash and cash equivalents of discontinued operations at end of period	0	8,200
Cash and cash equivalents of continuing operations at end of period	148,754	64,495
Cash paid during the period for:
Interest	21,943	20,176
Income taxes	$ 16,637	$ 13,005

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements of Ferro Corporation (“Ferro,” “we,” “us” or “the Company”) have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information, the instructions to Form 10-Q, and Article 10 of Regulation S-X. These statements reflect all normal and recurring adjustments which are, in the opinion of management, necessary to present fairly the financial position, results of operations and cash flows for the periods presented. The preparation of financial statements in conformity with U.S. GAAP requires us to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. These interim unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes included in our Annual Report on Form 10-K for the year ended December 31, 2020. We produce our products primarily in the Europe, Middle East and Africa (“EMEA”) region, the Americas region and the Asia Pacific region. Operating results for the three and nine months ended September 30, 2021, are not necessarily indicative of the results expected in the subsequent quarter or for the full year ending December 31, 2021. During the fourth quarter of 2019, substantially all of the assets and liabilities of our Tile Coatings business were classified as held-for-sale in the accompanying consolidated balance sheets. As further discussed in Note 4, we entered into a definitive agreement to sell our Tile Coatings business, which has historically been included in the Performance Coatings reportable segment. Therefore, the associated operating results, net of income tax, have been classified as discontinued operations in the accompanying consolidated statements of operations for all periods presented. Throughout this Quarterly Report on Form 10-Q, with the exception of the statements of cash flows and unless otherwise indicated, amounts and activity are presented on a continuing operations basis. On February 25, 2021, we completed the sale of our Tile Coatings business to Pigments Spain, S.L., a company of the Esmalglass-Itaca-Fritta group, which is a portfolio company of certain Lone Star Funds. Certain reclassifications have been made to the prior year financial statements to conform to current year classifications. The reclassification relates to the balance sheet presentation of assets as held for sale in relation to the Tile Coatings business transaction. Additional reclassification relates to the disclosure of revenue disaggregation by geographic regions. As of January 1, 2021, the United States and Latin America regions were combined into the Americas region . Pending Merger On May 11, 2021, Ferro, PMHC II Inc., a Delaware corporation (“Prince”) and PMHC Fortune Merger Sub, Inc., a Delaware corporation and a wholly owned subsidiary of Prince (“Merger Sub”), entered into an Agreement and Plan of Merger (the “Merger Agreement”), pursuant to which, on the terms and subject to the conditions set forth in the Merger Agreement, Merger Sub will merge with and into Ferro (the “Merger”), with Ferro continuing as the surviving corporation in the Merger and as a direct or indirect wholly owned subsidiary of Prince. The board of directors of Ferro has approved the Merger Agreement. On the terms and subject to the conditions set forth in the Merger Agreement, at the effective time of the Merger (the “Effective Time”), and as a result of the Merger, each share of common stock of Ferro (“Ferro Common Stock”) that is issued and outstanding immediately prior to the Effective Time (other than (i) shares of Ferro Common Stock held by Ferro as treasury stock or held directly by Prince or any subsidiary of Prince (including Merger Sub) immediately prior to the Effective Time (which will be canceled without payment of any consideration), (ii) shares of Ferro Common Stock for which dissenters rights have been properly exercised and perfected and not withdrawn and (iii) shares of restricted stock) will be converted into the right to receive $22.00 in cash, without interest (the “Merger Consideration”). Pursuant to the Merger Agreement, as of the Effective Time, each option to acquire shares of Ferro Common Stock, whether vested or unvested, that is outstanding immediately prior to the Effective Time will be converted into the right to receive an amount in cash (less any applicable withholding taxes) equal to (A) the number of shares of Ferro Common Stock subject to such option, multiplied by (B) the excess, if any, of the Merger Consideration over the applicable per share exercise price of such option. In addition, pursuant to the Merger Agreement, as of the Effective Time, (i) each outstanding share of Ferro restricted stock, each restricted share unit (other than performance share units), deferred share unit, phantom share unit or similar stock right, whether vested or unvested, that is outstanding immediately prior to the Effective Time will be converted into the right to receive an amount in cash (less any applicable withholding taxes) equal to (A) the number of shares of Ferro Common Stock subject to such right, multiplied by (B) the Merger Consideration, and (ii) each Ferro performance-based share unit, whether vested or unvested, that is outstanding immediately prior to the Effective Time will be converted into the right to receive an amount in cash (less any applicable withholding taxes) equal to (A) the number of shares of Ferro Common Stock subject to such performance-based share unit, calculated based on the greater of (x) actual performance achieved in accordance with the terms of such performance-based share unit and the Merger Agreement and (y) target level performance over the entire performance period applicable with respect to such performance-based share unit, multiplied by (B) the Merger Consideration. Ferro and Prince have agreed to use their respective reasonable best efforts to consummate the Merger, including making filings with and seeking approvals from certain governmental entities necessary in connection with the Merger, including under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the “HSR Act”). In furtherance thereof, Prince has agreed to accept certain divestitures or restrictions on the assets of Prince, Ferro and their respective subsidiaries, if and to the extent necessary to obtain such approvals, subject to certain specified limitations set forth in the Merger Agreement. Consummation of the Merger is subject to certain customary conditions, including (i) the adoption of the Merger Agreement by the holders of two-thirds of the outstanding shares of Ferro Common Stock, (ii) the absence of any law prohibiting or order preventing the consummation of the Merger, (iii) the receipt of certain regulatory approvals, including expiration or termination of any applicable waiting period under the HSR Act, (iv) the absence of a material adverse effect with respect to Ferro, and (v) compliance in all material respects on the part of each of Ferro and Prince with such party’s covenants under the Merger Agreement. The obligation of each party to consummate the Merger is also conditioned upon the other party’s representations and warranties being true and correct, subject to certain materiality exceptions.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	9 Months Ended
	Sep. 30, 2021
Accounting Standards Update and Change in Accounting Principle [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recently Adopted Accounting Standards This section provides a description of new accounting pronouncements ("Accounting Standard Update" or "ASU") issued by the Financial Accounting Standards Board ("FASB") that are applicable to the Company. New Accounting Standards Not Yet Adopted We are currently evaluating the impact on our financial statements of the following ASU: Standard Description ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting , issued March, 2020 Provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments in this ASU are effective for all entities through December 31, 2022.

Revenue

Revenue	9 Months Ended
	Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
Revenue	Revenue Revenues disaggregated by geography and reportable segment for the three months ended September 30, 2021, follow: (Dollars in thousands) EMEA Americas Asia Pacific Total Functional Coatings $ 81,508 $ 66,005 $ 32,055 $ 179,568 Color Solutions 34,186 52,692 10,782 97,660 Total net sales $ 115,694 $ 118,697 $ 42,837 $ 277,228 Revenues disaggregated by geography and reportable segment for the three months ended September 30, 2020, follow: (Dollars in thousands) EMEA Americas Asia Pacific Total Functional Coatings $ 65,081 $ 62,358 $ 26,779 $ 154,218 Color Solutions 30,472 46,421 10,766 87,659 Total net sales $ 95,553 $ 108,779 $ 37,545 $ 241,877 Revenues disaggregated by geography and reportable segment for the nine months ended September 30, 2021, follow: (Dollars in thousands) EMEA Americas Asia Pacific Total Functional Coatings $ 261,449 $ 205,969 $ 91,881 $ 559,299 Color Solutions 111,186 156,560 32,872 300,618 Total net sales $ 372,635 $ 362,529 $ 124,753 $ 859,917 Revenues disaggregated by geography and reportable segment for the nine months ended September 30, 2020, follow: (Dollars in thousands) EMEA Americas Asia Pacific Total Functional Coatings $ 192,009 $ 179,048 $ 70,268 $ 441,325 Color Solutions 96,235 132,272 29,172 257,679 Total net sales $ 288,244 $ 311,320 $ 99,440 $ 699,004

Discontinued Operations

Discontinued Operations	9 Months Ended
	Sep. 30, 2021
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	Discontinued Operations During the fourth quarter of 2019, substantially all of the assets and liabilities of our Tile Coatings business were classified as held-for-sale in the accompanying consolidated balance sheets. We entered into a definitive agreement to sell our Tile Coatings business, which has historically been a part of our Performance Coatings reportable segment. Therefore, the associated operating results, net of income tax, have been classified as discontinued operations in the accompanying consolidated statements of operations for all periods presented. On February 25, 2021, we completed the sale of our Tile Coatings business to Pigments Spain, S.L., a company of the Esmalglass-Itaca-Fritta group (the “Buyer”), which is a portfolio company of certain Lone Star Funds, for $460.0 million in cash, subject to post-closing adjustments. The transaction resulted in net proceeds of approximately $415.2 million after expenses and a gain of $100.1 million, which is recorded within Income (loss) from discontinued operations, net of income taxes in our consolidated statement of operations for the quarter ended March 31, 2021. We entered into a Transition Services Agreement (“TSA”) with the Buyer, which is designed to facilitate an orderly transfer of business operations. The services provided under the TSA will terminate at various points in times between six to twelve months from the completion of the sale. Except for customary post-closing adjustments and transition services, we have no continuing involvement with the Buyer subsequent to the completion of the sale. The table below summarizes results for the Tile Coatings business for the three and nine months ended September 30, 2021 and 2020, which are reflected in our consolidated statements of operations as Income (loss) from discontinued operations, net of income taxes. Interest expense has been allocated to the discontinued operations based on the ratio of net assets of the Tile Coatings business to consolidated net assets excluding debt. Three Months Ended Nine Months Ended (Dollars in thousands) 2021 2020 2021 2020 Net sales $ — $ 120,163 $ 83,579 $ 310,167 Cost of sales — 89,120 60,634 235,095 Gross profit — 31,043 22,945 75,072 Selling, general and administrative expenses — 18,549 20,327 52,899 Restructuring and impairment charges — 269 303 2,306 Interest expense — 2,950 1,682 7,698 Interest earned — (21) (189) (174) Foreign currency losses, net — 113 363 5,074 Gain on sale of business, net — — (100,057) — Miscellaneous expense, net — 173 251 1,420 Income from discontinued operations before income taxes — 9,010 100,265 5,849 Income tax expense 822 3,643 12,781 3,499 Income (loss) from discontinued operations, net of income taxes (822) 5,367 87,484 2,350 Less: Net (loss) income attributable to — (11) 64 33 Net income attributable to Tile Coatings business $ (822) $ 5,378 $ 87,420 $ 2,317 The following table summarizes the assets and liabilities which are classified as held-for-sale at December 31, 2020: (Dollars in thousands) December 31, 2020 Cash and cash equivalents $ 8,200 Accounts receivable, net 211,548 Inventories 84,239 Other receivables 1,630 Other current assets 2,237 Current assets held-for-sale 307,854 Property, plant and equipment, net 93,430 Intangible assets, net 42,126 Deferred income taxes 12,267 Other non-current assets 6,384 Non-current assets held-for-sale 154,207 Total assets held-for-sale $ 462,061 Loans payable and current portion of long-term debt $ 3,927 Accounts payable 85,308 Accrued payrolls 5,946 Accrued expenses and other current liabilities 12,364 Current liabilities held-for-sale 107,545 Long-term debt, less current portion 56,359 Postretirement and pension liabilities 8,119 Other non-current liabilities 6,671 Non-current liabilities held-for-sale 71,149 Total liabilities held-for-sale $ 178,694 The following table summarizes cash flow data relating to discontinued operations for the nine months ended September 30, 2021 and 2020: Nine Months Ended (Dollars in thousands) 2021 2020 Capital expenditures $ (1,074) $ (3,048) Gain on sale of discontinued operations (100,057) — Non-cash operating activities - restructuring and impairment charges — 1,091 Non-cash investing activities - capital expenditures, consisting of unpaid capital expenditure liabilities at period end — 683

Inventories

Inventories	9 Months Ended
	Sep. 30, 2021
Inventory Disclosure [Abstract]
Inventories	Inventories (Dollars in thousands) September 30, December 31, Raw materials $ 80,430 $ 81,344 Work in process 47,064 48,770 Finished goods 140,500 130,218 Total inventories $ 267,994 $ 260,332

Property, Plant and Equipment

Property, Plant and Equipment	9 Months Ended
	Sep. 30, 2021
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property, Plant and Equipment Property, plant and equipment is reported net of accumulated depreciation of $453.1 million at September 30, 2021 and $456.3 million at December 31, 2020. As discussed in Note 4, the assets of our Tile Coatings business were classified as held-for-sale under ASC Topic 360; Property, Plant, and Equipment . As such, additional accumulated depreciation of $135.3 million at December 31, 2020 was classified as Non-current assets held for sale.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	9 Months Ended
	Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets Details and activity in the Company’s goodwill by segment follow: (Dollars in thousands) Functional Color Total Goodwill, net at December 31, 2020 $ 123,570 $ 51,781 $ 175,351 Foreign currency adjustments (1,816) (567) (2,383) Goodwill, net at September 30, 2021 $ 121,754 $ 51,214 $ 172,968 (Dollars in thousands) September 30, December 31, Goodwill, gross $ 231,435 $ 233,818 Accumulated impairment (58,467) (58,467) Goodwill, net $ 172,968 $ 175,351 Goodwill is tested for impairment at the reporting unit level on an annual basis in the fourth quarter, and between annual tests if an event occurs, or circumstances change, that would more likely than not reduce the fair value of a reporting unit below its carrying value. As of September 30, 2021, the Company is not aware of any events or circumstances that occurred which would require a goodwill impairment test. Amortizable intangible assets consisted of the following: (Dollars in thousands) September 30, December 31, Gross amortizable intangible assets: Patents $ 5,494 $ 5,589 Land rights 3,215 3,173 Technology/know-how and other 116,121 116,015 Customer relationships 66,276 68,142 Total gross amortizable intangible assets 191,106 192,919 Accumulated amortization: Patents (5,472) (5,566) Land rights (1,718) (1,630) Technology/know-how and other (67,541) (61,104) Customer relationships (19,197) (18,317) Total accumulated amortization (93,928) (86,617) Amortizable intangible assets, net $ 97,178 $ 106,302 Indefinite-lived intangible assets consisted of the following: (Dollars in thousands) September 30, December 31, Indefinite-lived intangibles assets: Trade names and trademarks $ 12,871 $ 13,198

Debt

Debt	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Debt	Debt Loans payable and current portion of long-term debt consisted of the following: (Dollars in thousands) September 30, December 31, Current portion of long-term debt $ 8,888 $ 8,839 Loans payable and current portion of long-term debt $ 8,888 $ 8,839 Long-term debt consisted of the following: (Dollars in thousands) September 30, December 31, Term loan facility, net of unamortized issuance costs, maturing 2024 (1) $ 355,058 $ 793,731 Finance lease obligations 2,663 2,911 Other notes 3,862 3,706 Total long-term debt 361,583 800,348 Current portion of long-term debt (8,888) (8,839) Long-term debt, less current portion $ 352,695 $ 791,509 (1) The carrying value of the term loan facility, maturing 2024, is net of unamortized debt issuance costs of $1.2 million at September 30, 2021 and $3.7 million at December 31, 2020. Amended Credit Facility On April 25, 2018, the Company entered into an amendment (the “Amended Credit Facility”) to its existing credit facility (the “Credit Facility”), which Amended Credit Facility (a) provided a new revolving facility (the “2018 Revolving Facility”), which replaced the Company’s existing revolving facility, (b) repriced the (“Tranche B-1 Loans”), and (c) provided new tranches of term loans (“Tranche B-2 Loans” and “Tranche B-3 Loans”) denominated in U.S. dollars. On May 4, 2020, the Company entered into an amendment (Third Amendment to Credit Agreement) to the Amended Credit Facility, which added an approval to Section 7.2.8 Permitted Dispositions for the Tile Coatings Business Disposition. The Amended Credit Facility will be used for ongoing working capital requirements and general corporate purposes. The Tranche B-2 Loans are borrowed by the Company and the Tranche B-3 Loans are borrowed on a joint and several basis by Ferro GmbH and Ferro Europe Holdings LLC. The Amended Credit Facility consists of a $500 million secured revolving line of credit with a maturity of February 14, 2023, a $355 million secured term loan facility with a maturity of February 14, 2024, a $235 million secured term loan facility with a maturity of February 14, 2024 and a $230 million secured term loan facility with a maturity of February 14, 2024. The term loans are payable in equal quarterly installments in an amount equal to 0.25% of the original principal amount of the term loans, with the remaining balance due on the maturity date thereof. In addition, the Company is required, on an annual basis, to make a prepayment in an amount equal to a portion of the Company’s excess cash flow, as calculated pursuant to the Amended Credit Facility, which prepayment will be applied first to the term loans until they are paid in full, and then to the revolving loans. Subject to the satisfaction of certain conditions, the Company can request additional commitments under the revolving line of credit or term loans in the aggregate principal amount of up to $250 million to the extent that existing or new lenders agree to provide such additional commitments and/or term loans. The Company can also raise certain additional debt or credit facilities subject to satisfaction of certain covenant levels. Certain of the Company’s U.S. subsidiaries have guaranteed the Company’s obligations under the Amended Credit Facility and such obligations are secured by (a) substantially all of the personal property of the Company and the U.S. subsidiary guarantors and (b) a pledge of 100% of the stock of certain of the Company’s U.S. subsidiaries and 65% of the stock of certain of the Company’s direct foreign subsidiaries. The Tranche B-3 Loans are guaranteed by the Company, the U.S. subsidiary guarantors and a cross-guaranty by the borrowers of the Tranche B-3 Loans and are secured by the collateral securing the revolving loans and the other term loans, in addition to a pledge of the equity interests of Ferro GmbH. Interest Rate – Term Loans: The interest rates applicable to the term loans will be, at the Company’s option, equal to either a base rate or a LIBOR rate plus, in both cases, an applicable margin. • The base rate for term loans will be the highest of (i) the federal funds rate plus 0.50% (ii) the syndication agent’s prime rate, (iii) the daily LIBOR rate plus 1.00% or (iv) 0.00%. The applicable margin for base rate loans is 1.25%. • The LIBOR rate for term loans shall not be less than 0.0% and the applicable margin for LIBOR rate term loans is 2.25%. • For LIBOR rate term loans, the Company may choose to set the duration on individual borrowings for periods of one, two, three or six months, with the interest rate based on the applicable LIBOR rate for the corresponding duration. At September 30, 2021, the Company had borrowed $154.3 million under the Tranche B-1 Loans at an interest rate of 2.38%, $102.1 million under the Tranche B-2 Loans at an interest rate of 2.38% and $99.9 million under the Tranche B-3 Loans at an interest rate of 2.38%. At September 30, 2021, there were no additional borrowings available under the Tranche B-1 Loans, Tranche B-2 Loans, or Tranche B-3 Loans. In connection with these borrowings, we entered into swap agreements in the second quarter of 2018. At September 30, 2021, the effective interest rate for all tranches of the term loan facility, inclusive of hedging activities, was 4.84%. Interest Rate – Revolving Credit Line: The interest rates applicable to loans under the 2018 Revolving Credit Facility will be, at the Company’s option, equal to either a base rate or a LIBOR rate plus, in both cases, an applicable variable margin. The variable margin will be based on the ratio of (a) the Company’s total consolidated net debt outstanding (as defined in the Amended Credit Agreement) at such time to (b) the Company’s consolidated EBITDA (as defined in the Amended Credit Agreement) computed for the period of four consecutive fiscal quarters most recently ended. • The base rate for revolving loans will be the highest of (i) the federal funds rate plus 0.50%, (ii) the syndication agent’s prime rate, (iii) the daily LIBOR rate plus 1.00% or (iv) 0.00%. The applicable margin for base rate loans will vary between 0.50% to 1.50%. • The LIBOR rate for revolving loans shall not be less than 0% and the applicable margin for LIBOR rate revolving loans will vary between 1.50% and 2.50%. • For LIBOR rate revolving loans, the Company may choose to set the duration on individual borrowings for periods of one, two, three or six months, with the interest rate based on the applicable LIBOR rate for the corresponding duration. At September 30, 2021, there were no borrowings under the 2018 Revolving Credit Facility. After reductions for outstanding letters of credit secured by these facilities, we had $496.1 million of additional borrowings available under the revolving credit facilities at September 30, 2021. The Amended Credit Facility contains customary restrictive covenants including, but not limited to, limitations on use of loan proceeds, limitations on the Company’s ability to pay dividends and repurchase stock, limitations on acquisitions and dispositions, and limitations on certain types of investments. The Amended Credit Facility also contains standard provisions relating to conditions of borrowing and customary events of default, including the non-payment of obligations by the Company and the bankruptcy of the Company. Specific to the 2018 Revolving Credit Facility, the Company is subject to a financial covenant regarding the Company’s maximum leverage ratio. If an event of default occurs, all amounts outstanding under the Amended Credit Facility agreement may be accelerated and become immediately due and payable. At September 30, 2021, we were in compliance with the covenants of the Amended Credit Facility. As noted in Note 4, on February 25, 2021, we completed the sale of our Tile Coatings business. Proceeds from the close of the transaction, in addition to current cash balances, were used to pay down our term loan facility in the amount of $435.0 million on February 25, 2021. The debt pay-down reduced outstanding amounts of the Tranche B-1 Loans, Tranche B-2 Loans, and Tranche B-3 Loans, by $188.3 million, $124.7 million and $122.0 million, respectively. In conjunction with the prepayment of debt, we recorded a charge of $2.0 million in connection with the write-off of unamortized issuance costs, which is recorded within Loss on extinguishment of debt in our consolidated statement of operations for the nine months ended September 30, 2021. Receivable Sales Programs We have several international programs to sell without recourse trade accounts receivable to financial institutions. During the third quarter of 2020, these programs were amended to include a domestic program. These transactions are treated as a sale and are accounted for as a reduction in accounts receivable because the agreements transfer effective control over and risk related to the receivables to the buyers. The Company continues to service the receivables sold in exchange for a fee. The servicing fee for the three and nine months ended September 30, 2021, were immaterial. The program, whose maximum capacity is €85 million, is scheduled to expire on December 31, 2023. Generally, at the transfer date, the Company receives cash equal to approximately 80% of the value of the sold receivable. Cash proceeds at the transfer date from these arrangements are reflected in operating activities in our consolidated statement of cash flows. The proceeds from the deferred purchase price are reflected in investing activities. The outstanding principal amount of receivables sold under this program, which has not yet been collected from the customer, was $38.5 million at September 30, 2021 and $24.5 million at December 31, 2020. The carrying amount of deferred purchase price was $7.7 million at September 30, 2021 and $9.8 million at December 31, 2020 and is recorded in Other receivables. Trade accounts receivable collected from customers to be remitted to financial institutions were $39.3 million at September 30, 2021 and $36.0 million at December 31, 2020 recorded in Accrued expenses and other current liabilities. Activity from these programs for the nine months ended September 30, 2021 and 2020 is detailed below: Nine Months Ended (Dollars in thousands) 2021 2020 Trade accounts receivable sold to financial institutions $ 467,245 $ 206,104 Cash proceeds from financial institutions (1) 375,196 139,549 (1) Excluded from the table above, in the nine months ended September 30, 2020, our Tile Coatings business received cash proceeds from financial institutions of $47.3 million. Refer to Note 4 for additional discussion of the Tile Coatings business and its classification as discontinued operations. Other Financing Arrangements We maintain other lines of credit to provide global flexibility for our short-term liquidity requirements. These facilities are uncommitted lines for our international operations and totaled $25.0 million and $28.1 million at September 30, 2021 and December 31, 2020, respectively. The unused portions of these lines provided additional liquidity of $25.0 million at September 30, 2021 and December 31, 2020.

Financial Instruments

Financial Instruments	9 Months Ended
	Sep. 30, 2021
Investments, All Other Investments [Abstract]
Financial Instruments	Financial Instruments The following financial instrument assets (liabilities) are presented at their respective carrying amount, fair value and classification within the fair value hierarchy: September 30, 2021 Carrying Fair Value (Dollars in thousands) Total Level 1 Level 2 Level 3 Cash and cash equivalents $ 148,754 $ 148,754 $ 148,754 $ — $ — Term loan facility - Amended Credit Facility (1) (355,058) (354,382) — (354,382) — Other long-term notes payable (3,862) (2,324) — (2,324) — Cross currency swaps 1,456 1,456 — 1,456 — Interest rate swaps (17,595) (17,595) — (17,595) — Foreign currency forward contracts, net (3,255) (3,255) — (3,255) — December 31, 2020 Carrying Fair Value (Dollars in thousands) Total Level 1 Level 2 Level 3 Cash and cash equivalents $ 174,077 $ 174,077 $ 174,077 $ — $ — Term loan facility - Amended Credit Facility (1) (793,731) (783,143) — (783,143) — Other long-term notes payable (3,706) (1,887) — (1,887) — Cross currency swaps (5,162) (5,162) — (5,162) — Interest rate swaps (24,694) (24,694) — (24,694) — Foreign currency forward contracts, net 2,019 2,019 — 2,019 — (1) The carrying value of the term loan facility is net of unamortized debt issuance costs of $1.2 million and $3.7 million for the period ended September 30, 2021, and December 31, 2020, respectively. The fair value of cash and cash equivalents are based on the fair values of identical assets. The fair value of loans payable is based on the present value of expected future cash flows and approximate their carrying amounts due to the short periods to maturity. The fair value of the term loan facility is based on market price information and is measured using the last available bid price of the instrument on a secondary market. The fair value of the revolving credit facility and other long-term notes payable are based on the present value of expected future cash flows and interest rates that would be currently available to the Company for issuance of similar types of debt instruments with similar terms and remaining maturities adjusted for the Company's performance risk. The fair values of our interest rate swaps and cross currency swaps are determined based on inputs that are readily available in public markets or can be derived from information available in publicly quoted markets. The fair value of the foreign currency forward contracts are based on market prices for comparable contracts. Derivative Instruments The Company may use derivative instruments to partially offset its business exposure to foreign currency and interest rate risk on expected future cash flows, on net investments in certain foreign subsidiaries and on certain existing assets and liabilities. However, the Company may choose not to hedge in countries where it is not economically feasible to enter into hedging arrangements or where hedging inefficiencies exist, such as timing of transactions. Derivatives Designated as Hedging Instruments Cash Flow Hedges. For derivative instruments that are designated and qualify as cash flow hedges, the gain or loss on the derivative is recorded as a component of Accumulated other comprehensive loss (“AOCL”) and reclassified into earnings in the same period during which the hedged transaction affects earnings. The Company utilizes interest rate swaps to limit exposure to market fluctuations on floating-rate debt. During the second quarter of 2018, the Company entered into variable to fixed interest rate swaps with a maturity date of February 14, 2024. The notional amount is $308.8 million at September 30, 2021. These swaps are hedging risk associated with the Tranche B-1, B-2 and B-3 Loans. These interest rate swaps are designated as cash flow hedges. As of September 30, 2021, the Company expects it will reclassify net losses of approximately $8.5 million, currently recorded in AOCL, into interest expense in earnings within the next twelve months. However, the actual amount reclassified could vary due to future changes in the fair value of these derivatives. The Company has converted a U.S. dollar denominated, variable rate debt obligation into a Euro fixed rate obligation using receive-float, pay-fixed cross currency swaps in the second quarter of 2018. These swaps are hedging currency and interest rate risk associated with the Tranche B-3 Loan. These cross-currency swaps are designated as cash flow hedges. In conjunction with the pay-down of debt discussed in Note 8, we terminated all cross-currency swaps, except for one, which we de-designated and re-designated to hedge the remaining Tranche B-3 Loan after the interest rate swaps. Due to the original designation layering, the other comprehensive loss from the cross-currency swap at re-designation and the other comprehensive loss from the terminated cross-currency swaps were written-off as the interest payments were deemed remote. The Company paid counterparties $3.5 million to settle the terminated derivatives, resulting in a net $4.5 million being reclassified from AOCL to Interest expense as a result of this remote transaction. The remaining notional amount is $38.6 million at September 30, 2021, with a maturity date of February 14, 2024. As of September 30, 2021, the Company expects it will reclassify net losses of approximately $0.1 million, currently recorded in AOCL, into interest expense in earnings within the next twelve months. However, the actual amount reclassified could vary due to future changes in the fair value of this derivative. The amount of gain (loss) recognized in AOCL and the amount of loss (gain) reclassified into earnings for the three months ended September 30, 2021 and 2020, follow: Amount of Gain (Loss) Amount of Loss (Gain) Location of Gain (Loss) (Dollars in thousands) 2021 2020 2021 2020 Interest rate swaps $ (428) $ (975) $ (2,422) $ (1,648) Interest expense Cross currency swaps 907 (10,286) (111) 116 Interest expense $ (2,533) $ (1,532) Total Interest expense Cross currency swaps 916 (9,825) Foreign currency losses (gains), net $ 916 $ (9,825) Total Foreign currency losses (gains), net The amount of gain (loss) recognized in AOCL and the amount of loss (gain) reclassified into earnings for the nine months ended September 30, 2021 and 2020, follow: Amount of Gain (Loss) Amount of Loss (Gain) Location of Gain (Loss) (Dollars in thousands) 2021 2020 2021 2020 Interest rate swaps $ 625 $ (15,783) $ (6,035) $ (2,970) Interest expense Cross currency swaps 3,215 (8,930) (234) 2,135 Interest expense $ (6,269) $ (835) Total Interest expense Cross currency swaps 3,410 (10,407) Foreign currency losses (gains), net $ 3,410 $ (10,407) Total Foreign currency losses (gains), net The total amounts of expense and the respective line items in which the effect of cash flow hedges is presented in the condensed consolidated statement of operations for the three and nine months ended September 30, 2021 and 2020, are as follows: Three Months Ended Nine Months Ended (Dollars in thousands) 2021 2020 2021 2020 Interest expense $ 5,436 $ 4,767 $ 19,879 $ 16,474 Foreign currency losses, net 426 1,450 4,793 1,278 Net Investment Hedges. For derivatives that are designated and qualify as net investment hedges, the gain or loss on the derivative is reported as a component of the currency translation adjustment in AOCL. These cross-currency swaps are designated as hedges of our net investment in European operations. Time value is excluded from the assessment of effectiveness and the amount of interest paid or received on the swaps will be recognized as an adjustment to interest expense in earnings over the life of the swaps. In the second quarter of 2018, the Company entered into cross currency swap agreements under which we pay variable rate interest in Euros and receive variable rate interest in U.S. dollars. The net investment hedge was terminated in the fourth quarter of 2020. These swaps were hedging risk associated with the net investment in Euro denominated operations due to fluctuating exchange rates and were designated as net investment hedges. The changes in the fair value of these designated cross-currency swaps were recognized in AOCL. The amount of gain (loss) on net investment hedges recognized in AOCL and the amount of gain recognized in income on derivative (amount excluded from effectiveness testing) for the three months ended September 30, 2021 and 2020, follow: Amount of Gain (Loss) Amount of Gain Location of Gain (Dollars in thousands) 2021 2020 2021 2020 Cross currency swaps $ — $ (4,285) $ — $ 259 Interest expense The amount of gain (loss) on net investment hedges recognized in AOCL and the amount of gain recognized in income on derivative (amount excluded from effectiveness testing) for the nine months ended September 30, 2021 and 2020, follow: Amount of Gain (Loss) Amount of Gain Location of Gain (Dollars in thousands) 2021 2020 2021 2020 Cross currency swaps $ — $ (3,195) $ — $ 1,651 Interest expense Derivatives Not Designated as Hedging Instruments Foreign Currency Forward Contracts. We manage foreign currency risks principally by entering into forward contracts to mitigate the impact of currency fluctuations on transactions. These forward contracts are not formally designated as hedges. Gains and losses on these foreign currency forward contracts are netted with gains and losses from currency fluctuations on transactions arising from international trade and reported as Foreign currency losses (gains), net in the condensed consolidated statements of operations. We recognized net losses of $2.6 million and $10.1 million in the three and nine months ended September 30, 2021, respectively, and net gains of $3.6 million and $4.0 million in the three and nine months ended September 30, 2020, respectively, arising from the change in fair value of our financial instruments, which partially offset the related net gains and losses on international trade transactions. The notional amount of foreign currency forward contracts was $705.7 million at September 30, 2021 and $494.2 million at December 31, 2020. The following table presents the effect on our condensed consolidated statements of operations for the three and nine months ended September 30, 2021 and 2020, respectively, of our foreign currency forward contracts: Amount of Gain (Loss) Amount of Gain (Loss) Recognized in Earnings Location of Gain (Loss) in Earnings Three Months Ended Nine Months Ended (Dollars in thousands) 2021 2020 2021 2020 Foreign currency forward contracts $ (2,555) $ 3,586 $ (10,101) $ 3,996 Foreign currency losses (gains), net Location and Fair Value Amount of Derivative Instruments The following table presents the fair values of our derivative instruments on our condensed consolidated balance sheets. All derivatives are reported on a gross basis. (Dollars in thousands) September 30, December 31, Balance Sheet Location Asset derivatives: Cross currency swaps $ 32 $ 9 Other current assets Cross currency swaps 1,424 — Other non-current assets Foreign currency forward contracts 1,133 2,649 Other current assets Liability derivatives: Interest rate swaps $ (8,450) $ (8,436) Accrued expenses and other current liabilities Interest rate swaps (9,145) (16,258) Other non-current liabilities Cross currency swaps — (67) Accrued expenses and other current liabilities Cross currency swaps — (5,104) Other non-current liabilities Foreign currency forward contracts (4,388) (630) Accrued expenses and other current liabilities

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income TaxesIncome tax expense for the nine months ended September 30, 2021 was $29.9 million, or 38.6% of pre-tax income. Income tax expense for the nine months ended September 30, 2020 was $10.4 million, or 30.6% of pre-tax income. The tax expense during the nine months ended September 30, 2021, as a percentage of pre-tax income, is higher than the U.S. federal statutory income tax rate of 21.0% primarily as a result of foreign statutory rate differences and an extraordinary distribution from a foreign affiliate subject to local country withholding taxes that were not fully creditable by the U.S. shareholder. The tax expense during the nine months ended September 30, 2020, as a percentage of pre-tax income, is higher than the U.S. federal statutory income tax rate of 21.0% primarily as a result of foreign statutory rate differences and U.S. taxation of foreign earnings.

Contingent Liabilities

Contingent Liabilities	9 Months Ended
	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Contingent Liabilities	Contingent Liabilities We have recorded environmental liabilities of $5.3 million and $5.7 million at September 30, 2021 and December 31, 2020, respectively, for costs associated with the remediation of certain of our current or former properties that have been contaminated. The balance at September 30, 2021 and December 31, 2020, were primarily comprised of liabilities related to a non-operating facility in Brazil, and for retained environmental obligations related to a site in the United States that was part of the sale of our North American and Asian metal powders product line in 2013. These costs include, but are not limited to, legal and consulting fees, site studies, the design and implementation of remediation plans, post-remediation monitoring, and related activities. The ultimate liability could be affected by numerous uncertainties, including the extent of contamination found, the required period of monitoring, the ultimate cost of required remediation, and other circumstances. In November 2017, Suffolk County Water Authority filed a complaint, Suffolk County Water Authority v. The Dow Chemical Company et al., against the Company and a number of other companies in the U.S. Federal Court for the Eastern District of New York with regard to the product 1,4 dioxane. The plaintiff alleges, among other things, that the Suffolk County water supply is contaminated with 1,4 dioxane and that the defendants are liable for unspecified costs of cleanup and remediation of the water supply, among other damages. The Company has not manufactured 1,4 dioxane since 2008, denies the allegations related to liability for the plaintiff’s claims, and is vigorously defending this proceeding. Since December 2018, additional complaints were filed in the same court by 25 other New York municipal water suppliers and in New York State Supreme Court by one water supplier against the Company and others making substantially similar allegations regarding the contamination of their respective water supplies with 1,4 dioxane. The Company is likewise vigorously defending these additional actions. The Company currently does not expect the outcome of these proceedings to have a material adverse impact on its consolidated financial condition, results of operations, or cash flows, net of any insurance coverage. However, it is not possible to predict the ultimate outcome of these proceedings due to the unpredictable nature of litigation. In addition to the proceedings described above, the Company and its consolidated subsidiaries are subject from time to time to various claims, lawsuits, investigations, and proceedings related to products, services, contracts, environmental, health and safety, employment, intellectual property, and other matters, including with respect to divested businesses. The outcome of such matters is unpredictable, our assessment of them may change, and resolution of them could have a material adverse effect on the Company’s consolidated financial position, results of operations, or cash flows. We do not currently expect the resolution of such matters to materially affect the consolidated financial position, results of operations, or cash flows of the Company.

Retirement Benefits

Retirement Benefits	9 Months Ended
	Sep. 30, 2021
Retirement Benefits [Abstract]
Retirement Benefits	Retirement Benefits Net periodic benefit cost (credit) of our U.S. pension plans (including our unfunded nonqualified plans), non-U.S. pension plans, and postretirement health care and life insurance benefit plans for the three months ended September 30, 2021 and 2020, respectively, follow: U.S. Pension Plans Non-U.S. Pension Plans Other Benefit Plans Three Months Ended September 30, (Dollars in thousands) 2021 2020 2021 2020 2021 2020 Service cost $ — $ 3 $ 315 $ 325 $ — $ 1 Interest cost 1,880 2,387 316 379 68 132 Expected return on plan assets (3,824) (3,708) (107) (128) — — Amortization of prior service cost — — (19) (5) — — Net periodic benefit (credit) cost $ (1,944) $ (1,318) $ 505 $ 571 $ 68 $ 133 Net periodic benefit cost (credit) of our U.S. pension plans (including our unfunded nonqualified plans), non-U.S. pension plans, and postretirement health care and life insurance benefit plans for the nine months ended September 30, 2021 and 2020, respectively, follow: U.S. Pension Plans Non-U.S. Pension Plans Other Benefit Plans Nine Months Ended September 30, (Dollars in thousands) 2021 2020 2021 2020 2021 2020 Service cost $ — $ 9 $ 987 $ 904 $ — $ 2 Interest cost 5,641 7,162 994 1,052 204 397 Expected return on plan assets (11,472) (11,124) (337) (356) — — Amortization of prior service cost — — (60) (14) — — Net periodic benefit (credit) cost $ (5,831) $ (3,953) $ 1,584 $ 1,586 $ 204 $ 399

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2021
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation On May 3, 2018, our shareholders approved the 2018 Omnibus Incentive Plan (the “Plan”), which was adopted by the Board of Directors on February 22, 2018. The Plan’s purpose is to promote the Company’s long-term financial interests and growth by attracting, retaining and motivating high-quality key employees and directors, motivating such employees and directors to achieve the Company’s short- and long-range performance goals and objectives, and thereby align their interests with those of the Company’s shareholders. The Plan reserves 4,500,000 shares of common stock to be issued for grants of several different types of long-term incentives including stock options, stock appreciation rights, restricted awards, performance awards, other common stock-based awards, and dividend equivalent rights. The Plan replaced the 2013 Omnibus Incentive Plan (the “Previous Plan”), and no future grants may be made under the Previous Plan. However, any outstanding awards or grants made under the Previous Plan will continue until the end of their specified terms. Through the nine months ended September 30, 2021, our Board of Directors granted 0.3 million stock options, 0.2 million performance share units, and 0.2 million restricted share units under the Plan. We estimate the fair value of each stock option on the date of grant using the Black-Scholes option pricing model. The following table details the weighted-average grant-date fair values and the assumptions used for estimating the fair values of stock option grants made during the nine months ended September 30, 2021: Stock Options Weighted-average grant-date fair value $ 5.94 Expected life, in years 6 Risk-free interest rate 0.76% Expected volatility 40.39% The weighted-average grant date fair value of our performance share units granted in the nine months ended September 30, 2021, was $16.00. We measure the fair value of performance share units based on the closing market price of our common stock on the date of the grant. These shares are evaluated each reporting period for respective attainment rates against the performance criteria. The weighted-average grant date fair value of our restricted share units granted in the nine months ended September 30, 2021, was $15.07. We measure the fair value of restricted share units based on the closing market price of our common stock on the date of the grant. The restricted share units vest over three years. We recognized stock-based compensation expense of $1.4 million and $6.5 million for the three and nine months ended September 30, 2021, respectively, and $1.6 million and $7.1 million for the three and nine months ended September 30, 2020, respectively. At September 30, 2021, unearned compensation cost related to the unvested portion of all stock-based compensation awards was approximately $9.8 million and is expected to be recognized over the remaining vesting period of the respective grants, through the first quarter of 2024.

Restructuring and Optimization

Restructuring and Optimization Programs	9 Months Ended
	Sep. 30, 2021
Restructuring and Related Activities [Abstract]
Restructuring and Optimization Programs	Restructuring and Optimization Programs Total restructuring charges were $0.6 million and $7.8 million for the three and nine months ended September 30, 2021, respectively, and $2.4 million and $12.2 million for the three and nine months ended September 30, 2020, respectively. As discussed in Note 4, our Tile Coatings business was classified as held-for-sale during the fourth quarter of 2019. As such, there were additional restructuring charges of $0.3 million for the nine months ended September 30, 2021 and $0.3 million and $2.3 million for the three and nine months ended September 30, 2020, respectively, classified as Net income from discontinued operations, net of income taxes. Organizational Optimization Plan In conjunction with the sale of the Tile Coatings business, discussed in Note 4, we developed our Organizational Optimization Plan and initiated a program across the organization with the objective of realigning the business and lowering our cost structure. As a result of these actions, the Company expects to incur total charges of approximately $5.7 million, substantially all of which will be for anticipated severance costs. The remaining activities of the program are expected to be recognized throughout the remainder of 2021. Charges associated with the program were $0.2 million and $3.2 million for the three and nine months ended September 30, 2021, respectively, and $1.2 million for the three and nine months ended September 30, 2020. Americas Manufacturing Optimization Plan In the second quarter of 2019, we developed our Americas Manufacturing Optimization Plan and initiated a program across the organization with the objective of realigning the business and lowering our cost structure. The Americas Manufacturing Optimization Plan is focused on the construction of a new manufacturing center of excellence located in Villagran, Mexico. We are in the process of consolidating two plants located in the United States and two sites in Latin America into the expanded Villagran location. As a result of these actions, the Company expects to incur total charges of approximately $9.5 million, substantially all of which will be for anticipated severance costs. The remaining activities of the program are expected to be recognized within the next 12 months. Charges associated with the program were $0.1 million and $2.5 million for the three and nine months ended September 30, 2021, respectively, and $1.1 million for the nine months ended September 30, 2020. Global Optimization Plan The program involves our global operations and certain functions and initiatives to increase operational efficiencies, some of which is associated with integration of our acquisitions. Actions associated with the Global Optimization Plan are substantially completed, and as such, we do not anticipate material charges related to this plan for the remainder of 2021. Charges associated with the program were $0.3 million and $2.1 million for the three and nine months ended September 30, 2021, respectively, and $1.2 million and $9.9 million for the three and nine months ended September 30, 2020, respectively. The charges associated with these programs are further summarized below. (Dollars in thousands) Employee Other Total Balances at December 31, 2020 $ 5,510 $ 4,460 $ 9,970 Restructuring charges 5,697 2,059 7,756 Cash payments (6,178) (1,454) (7,632) Balances at September 30, 2021 $ 5,029 $ 5,065 $ 10,094 We expect to make cash payments to settle the remaining liability for employee severance benefits and other costs over the next twelve months, except where legal or contractual obligations would require it to extend beyond that period.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Details of the calculation of basic and diluted earnings per share are shown below: Three Months Ended Nine Months Ended (Dollars in thousands, except per share amounts) 2021 2020 2021 2020 Basic earnings per share computation: Income from continuing operations $ 11,679 $ 9,547 $ 47,664 $ 23,533 Less: Net income attributable to noncontrolling interests from continuing operations 482 451 1,237 793 Net income attributable to Ferro Corporation from continuing operations 11,197 9,096 46,427 22,740 Income (loss) from discontinued operations, net of income taxes (822) 5,367 87,484 2,350 Less: Net income (loss) attributable to noncontrolling interests from discontinued operations — (11) 64 33 Net income (loss) attributable to Ferro Corporation from discontinued operations (822) 5,378 87,420 2,317 Total $ 10,375 $ 14,474 $ 133,847 $ 25,057 Weighted-average common shares outstanding 82,719 82,261 82,627 82,201 Basic earnings per share from continuing operations attributable to Ferro Corporation common shareholders $ 0.14 $ 0.11 $ 0.56 $ 0.28 Diluted earnings per share computation: Net income attributable to Ferro Corporation from continuing operations $ 11,197 9,096 46,427 22,740 Net income (loss) attributable to Ferro Corporation from discontinued operations (822) 5,378 87,420 2,317 Total $ 10,375 $ 14,474 $ 133,847 $ 25,057 Weighted-average common shares outstanding 82,719 82,261 82,627 82,201 Assumed exercise of stock options 629 272 531 260 Assumed satisfaction of restricted stock unit conditions 155 157 200 300 Assumed satisfaction of performance share unit conditions 184 81 162 130 Weighted-average diluted shares outstanding 83,687 82,771 83,520 82,891 Diluted earnings per share from continuing operations attributable to Ferro Corporation common shareholders $ 0.13 $ 0.11 $ 0.56 $ 0.27 The number of anti-dilutive shares were 2.0 million for the three and nine months ended September 30, 2021, respectively, and 2.8 million and 2.7 million for the three and nine months ended September 30, 2020, respectively. These shares are excluded from the calculation of diluted earnings per share due to their anti-dilutive impact.

Share Repurchase Programs

Share Repurchase Programs	9 Months Ended
	Sep. 30, 2021
Equity [Abstract]
Share Repurchase Programs	Share Repurchase Programs The Company’s Board of Directors has approved share repurchase programs under which the Company is authorized to repurchase up to $150 million of the Company’s outstanding shares of common stock on the open market, including through a Rule 10b5-1 plan, or in privately negotiated transactions. The timing and amount of shares to be repurchased will be determined by the Company, based on evaluation of market and business conditions, share price, and other factors, including limitations contained in the Merger Agreement with Prince. The share repurchase programs do not obligate the Company to repurchase any dollar amount or number of common shares, and may be suspended or discontinued at any time. As of September 30, 2021, $46.2 million remains authorized under the programs for the repurchase of common stock.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	9 Months Ended
	Sep. 30, 2021
Equity [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss Changes in accumulated other comprehensive loss by component, net of tax, were as follows: Three Months Ended September 30, (Dollars in thousands) Postretirement Foreign Net Gain (Loss) Total Balances at June 30, 2020 $ 1,206 $ (111,954) $ (23,607) $ (134,355) Other comprehensive income (loss) before reclassifications, before tax — 13,022 (11,261) 1,761 Reclassification to earnings: Cash flow hedge income (loss), before tax — — 11,357 11,357 Current period other comprehensive income (loss), before tax — 13,022 96 13,118 Tax effect — (1,052) (173) (1,225) Current period other comprehensive income (loss), net of tax — 14,074 269 14,343 Balances at September 30, 2020 $ 1,206 $ (97,880) $ (23,338) $ (120,012) Balances at June 30, 2021 $ 3,328 $ (130,283) $ (14,358) $ (141,313) Other comprehensive income (loss) before reclassifications, before tax — (5,391) 479 (4,912) Reclassification to earnings: Postretirement benefit liabilities income (loss), before tax 2 — — 2 Cash flow hedge income (loss), before tax — — 1,617 1,617 Current period other comprehensive income (loss), before tax 2 (5,391) 2,096 (3,293) Tax effect — (941) 543 (398) Current period other comprehensive income (loss), net of tax 2 (4,450) 1,553 (2,895) Balances at September 30, 2021 $ 3,330 $ (134,733) $ (12,805) $ (144,208) Nine Months Ended September 30, (Dollars in thousands) Postretirement Foreign Net Gain (Loss) Total Balances at December 31, 2019 $ 1,206 $ (97,575) $ (13,007) $ (109,376) Other comprehensive income (loss) before reclassifications, before tax — (1,427) (24,713) (26,140) Reclassification to earnings: Cash flow hedge income (loss), before tax — — 11,242 11,242 Current period other comprehensive income (loss), before tax — (1,427) (13,471) (14,898) Tax effect — (1,122) (3,140) (4,262) Current period other comprehensive income (loss), net of tax — (305) (10,331) (10,636) Balances at September 30, 2020 $ 1,206 $ (97,880) $ (23,338) $ (120,012) Balances at December 31, 2020 $ 3,199 $ (70,482) $ (22,427) $ (89,710) Other comprehensive income (loss) before reclassifications, before tax — (81,857) 3,840 (78,017) Reclassification to earnings: Postretirement benefit liabilities income (loss), before tax 131 — — 131 Currency translation reclassification to income on divestiture — 17,305 — 17,305 Amount reclassification to income (remote transaction) — — 4,509 4,509 Cash flow hedge income (loss), before tax — — 2,859 2,859 Current period other comprehensive income (loss), before tax 131 (64,552) 11,208 (53,213) Tax effect — (301) 1,586 1,285 Current period other comprehensive income (loss), net of tax 131 (64,251) 9,622 (54,498) Balances at September 30, 2021 $ 3,330 $ (134,733) $ (12,805) $ (144,208)

Reporting for Segments

Reporting for Segments	9 Months Ended
	Sep. 30, 2021
Segment Reporting [Abstract]
Reporting for Segments	Reporting for Segments Net sales to external customers by segment are presented in the table below. Sales between segments were not material. Three Months Ended Nine Months Ended (Dollars in thousands) 2021 2020 2021 2020 Functional Coatings $ 179,568 $ 154,218 $ 559,299 $ 441,325 Color Solutions 97,660 87,659 300,618 257,679 Total net sales $ 277,228 $ 241,877 $ 859,917 $ 699,004 Each segment’s gross profit and reconciliation to income before income taxes are presented in the table below: Three Months Ended Nine Months Ended (Dollars in thousands) 2021 2020 2021 2020 Functional Coatings $ 51,094 $ 41,906 $ 172,491 $ 125,842 Color Solutions 32,790 28,450 103,150 89,222 Other cost of sales (506) (190) (2,325) (416) Total gross profit 83,378 70,166 273,316 214,648 Selling, general and administrative expenses 54,520 47,820 167,384 154,407 Restructuring and impairment charges 602 2,447 7,756 12,231 Other expense, net 2,777 5,305 20,566 14,113 Income (loss) before income taxes $ 25,479 $ 14,594 $ 77,610 $ 33,897

Basis of Presentation (Policies

Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	The accompanying unaudited condensed consolidated financial statements of Ferro Corporation (“Ferro,” “we,” “us” or “the Company”) have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information, the instructions to Form 10-Q, and Article 10 of Regulation S-X. These statements reflect all normal and recurring adjustments which are, in the opinion of management, necessary to present fairly the financial position, results of operations and cash flows for the periods presented. The preparation of financial statements in conformity with U.S. GAAP requires us to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. These interim unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes included in our Annual Report on Form 10-K for the year ended December 31, 2020.
Reclassifications	Certain reclassifications have been made to the prior year financial statements to conform to current year classifications. The reclassification relates to the balance sheet presentation of assets as held for sale in relation to the Tile Coatings business transaction. Additional reclassification relates to the disclosure of revenue disaggregation by geographic regions. As of January 1, 2021, the United States and Latin America regions were combined into the Americas region .
Recently Adopted Accounting Standard and New Accounting Standards Not Yet Adopted	Recently Adopted Accounting Standards This section provides a description of new accounting pronouncements ("Accounting Standard Update" or "ASU") issued by the Financial Accounting Standards Board ("FASB") that are applicable to the Company. New Accounting Standards Not Yet Adopted We are currently evaluating the impact on our financial statements of the following ASU: Standard Description ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting , issued March, 2020 Provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments in this ASU are effective for all entities through December 31, 2022.

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
Revenues Disaggregated by Geography and Reportable Segment	Revenues disaggregated by geography and reportable segment for the three months ended September 30, 2021, follow: (Dollars in thousands) EMEA Americas Asia Pacific Total Functional Coatings $ 81,508 $ 66,005 $ 32,055 $ 179,568 Color Solutions 34,186 52,692 10,782 97,660 Total net sales $ 115,694 $ 118,697 $ 42,837 $ 277,228 Revenues disaggregated by geography and reportable segment for the three months ended September 30, 2020, follow: (Dollars in thousands) EMEA Americas Asia Pacific Total Functional Coatings $ 65,081 $ 62,358 $ 26,779 $ 154,218 Color Solutions 30,472 46,421 10,766 87,659 Total net sales $ 95,553 $ 108,779 $ 37,545 $ 241,877 Revenues disaggregated by geography and reportable segment for the nine months ended September 30, 2021, follow: (Dollars in thousands) EMEA Americas Asia Pacific Total Functional Coatings $ 261,449 $ 205,969 $ 91,881 $ 559,299 Color Solutions 111,186 156,560 32,872 300,618 Total net sales $ 372,635 $ 362,529 $ 124,753 $ 859,917 Revenues disaggregated by geography and reportable segment for the nine months ended September 30, 2020, follow: (Dollars in thousands) EMEA Americas Asia Pacific Total Functional Coatings $ 192,009 $ 179,048 $ 70,268 $ 441,325 Color Solutions 96,235 132,272 29,172 257,679 Total net sales $ 288,244 $ 311,320 $ 99,440 $ 699,004

Discontinued Operations (Tables

Discontinued Operations (Tables)	9 Months Ended
	Sep. 30, 2021
Discontinued Operations and Disposal Groups [Abstract]
Summary of Discontinued Operations	The table below summarizes results for the Tile Coatings business for the three and nine months ended September 30, 2021 and 2020, which are reflected in our consolidated statements of operations as Income (loss) from discontinued operations, net of income taxes. Interest expense has been allocated to the discontinued operations based on the ratio of net assets of the Tile Coatings business to consolidated net assets excluding debt. Three Months Ended Nine Months Ended (Dollars in thousands) 2021 2020 2021 2020 Net sales $ — $ 120,163 $ 83,579 $ 310,167 Cost of sales — 89,120 60,634 235,095 Gross profit — 31,043 22,945 75,072 Selling, general and administrative expenses — 18,549 20,327 52,899 Restructuring and impairment charges — 269 303 2,306 Interest expense — 2,950 1,682 7,698 Interest earned — (21) (189) (174) Foreign currency losses, net — 113 363 5,074 Gain on sale of business, net — — (100,057) — Miscellaneous expense, net — 173 251 1,420 Income from discontinued operations before income taxes — 9,010 100,265 5,849 Income tax expense 822 3,643 12,781 3,499 Income (loss) from discontinued operations, net of income taxes (822) 5,367 87,484 2,350 Less: Net (loss) income attributable to — (11) 64 33 Net income attributable to Tile Coatings business $ (822) $ 5,378 $ 87,420 $ 2,317 The following table summarizes the assets and liabilities which are classified as held-for-sale at December 31, 2020: (Dollars in thousands) December 31, 2020 Cash and cash equivalents $ 8,200 Accounts receivable, net 211,548 Inventories 84,239 Other receivables 1,630 Other current assets 2,237 Current assets held-for-sale 307,854 Property, plant and equipment, net 93,430 Intangible assets, net 42,126 Deferred income taxes 12,267 Other non-current assets 6,384 Non-current assets held-for-sale 154,207 Total assets held-for-sale $ 462,061 Loans payable and current portion of long-term debt $ 3,927 Accounts payable 85,308 Accrued payrolls 5,946 Accrued expenses and other current liabilities 12,364 Current liabilities held-for-sale 107,545 Long-term debt, less current portion 56,359 Postretirement and pension liabilities 8,119 Other non-current liabilities 6,671 Non-current liabilities held-for-sale 71,149 Total liabilities held-for-sale $ 178,694 The following table summarizes cash flow data relating to discontinued operations for the nine months ended September 30, 2021 and 2020: Nine Months Ended (Dollars in thousands) 2021 2020 Capital expenditures $ (1,074) $ (3,048) Gain on sale of discontinued operations (100,057) — Non-cash operating activities - restructuring and impairment charges — 1,091 Non-cash investing activities - capital expenditures, consisting of unpaid capital expenditure liabilities at period end — 683

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2021
Inventory Disclosure [Abstract]
Summary of Inventories	(Dollars in thousands) September 30, December 31, Raw materials $ 80,430 $ 81,344 Work in process 47,064 48,770 Finished goods 140,500 130,218 Total inventories $ 267,994 $ 260,332

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill by Segment	Details and activity in the Company’s goodwill by segment follow: (Dollars in thousands) Functional Color Total Goodwill, net at December 31, 2020 $ 123,570 $ 51,781 $ 175,351 Foreign currency adjustments (1,816) (567) (2,383) Goodwill, net at September 30, 2021 $ 121,754 $ 51,214 $ 172,968
Schedule of Impairment of Goodwill	(Dollars in thousands) September 30, December 31, Goodwill, gross $ 231,435 $ 233,818 Accumulated impairment (58,467) (58,467) Goodwill, net $ 172,968 $ 175,351
Details of Amortizable Intangible Assets	Amortizable intangible assets consisted of the following: (Dollars in thousands) September 30, December 31, Gross amortizable intangible assets: Patents $ 5,494 $ 5,589 Land rights 3,215 3,173 Technology/know-how and other 116,121 116,015 Customer relationships 66,276 68,142 Total gross amortizable intangible assets 191,106 192,919 Accumulated amortization: Patents (5,472) (5,566) Land rights (1,718) (1,630) Technology/know-how and other (67,541) (61,104) Customer relationships (19,197) (18,317) Total accumulated amortization (93,928) (86,617) Amortizable intangible assets, net $ 97,178 $ 106,302
Schedule of Indefinite-Lived Intangible Assets	Indefinite-lived intangible assets consisted of the following: (Dollars in thousands) September 30, December 31, Indefinite-lived intangibles assets: Trade names and trademarks $ 12,871 $ 13,198

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Summary of Loans Payable and Current Portion of Long-Term Debt	Loans payable and current portion of long-term debt consisted of the following: (Dollars in thousands) September 30, December 31, Current portion of long-term debt $ 8,888 $ 8,839 Loans payable and current portion of long-term debt $ 8,888 $ 8,839
Summary of Long-Term Debt, Less Current Portion	Long-term debt consisted of the following: (Dollars in thousands) September 30, December 31, Term loan facility, net of unamortized issuance costs, maturing 2024 (1) $ 355,058 $ 793,731 Finance lease obligations 2,663 2,911 Other notes 3,862 3,706 Total long-term debt 361,583 800,348 Current portion of long-term debt (8,888) (8,839) Long-term debt, less current portion $ 352,695 $ 791,509 (1) The carrying value of the term loan facility, maturing 2024, is net of unamortized debt issuance costs of $1.2 million at September 30, 2021 and $3.7 million at December 31, 2020.
Schedule of Trade Accounts Receivable in International Receivable Sales Programs	Activity from these programs for the nine months ended September 30, 2021 and 2020 is detailed below: Nine Months Ended (Dollars in thousands) 2021 2020 Trade accounts receivable sold to financial institutions $ 467,245 $ 206,104 Cash proceeds from financial institutions (1) 375,196 139,549 (1) Excluded from the table above, in the nine months ended September 30, 2020, our Tile Coatings business received cash proceeds from financial institutions of $47.3 million. Refer to Note 4 for additional discussion of the Tile Coatings business and its classification as discontinued operations.

Financial Instruments (Tables)

Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2021
Derivative Instruments, Gain (Loss) [Line Items]
Financial Instruments Assets (Liabilities) Measured at Fair Value	The following financial instrument assets (liabilities) are presented at their respective carrying amount, fair value and classification within the fair value hierarchy: September 30, 2021 Carrying Fair Value (Dollars in thousands) Total Level 1 Level 2 Level 3 Cash and cash equivalents $ 148,754 $ 148,754 $ 148,754 $ — $ — Term loan facility - Amended Credit Facility (1) (355,058) (354,382) — (354,382) — Other long-term notes payable (3,862) (2,324) — (2,324) — Cross currency swaps 1,456 1,456 — 1,456 — Interest rate swaps (17,595) (17,595) — (17,595) — Foreign currency forward contracts, net (3,255) (3,255) — (3,255) — December 31, 2020 Carrying Fair Value (Dollars in thousands) Total Level 1 Level 2 Level 3 Cash and cash equivalents $ 174,077 $ 174,077 $ 174,077 $ — $ — Term loan facility - Amended Credit Facility (1) (793,731) (783,143) — (783,143) — Other long-term notes payable (3,706) (1,887) — (1,887) — Cross currency swaps (5,162) (5,162) — (5,162) — Interest rate swaps (24,694) (24,694) — (24,694) — Foreign currency forward contracts, net 2,019 2,019 — 2,019 — (1) The carrying value of the term loan facility is net of unamortized debt issuance costs of $1.2 million and $3.7 million for the period ended September 30, 2021, and December 31, 2020, respectively.
Schedule of Gain (Loss) Recognized in AOCL and the Amount of Gain (Loss) Reclassified into Earnings	The amount of gain (loss) recognized in AOCL and the amount of loss (gain) reclassified into earnings for the three months ended September 30, 2021 and 2020, follow: Amount of Gain (Loss) Amount of Loss (Gain) Location of Gain (Loss) (Dollars in thousands) 2021 2020 2021 2020 Interest rate swaps $ (428) $ (975) $ (2,422) $ (1,648) Interest expense Cross currency swaps 907 (10,286) (111) 116 Interest expense $ (2,533) $ (1,532) Total Interest expense Cross currency swaps 916 (9,825) Foreign currency losses (gains), net $ 916 $ (9,825) Total Foreign currency losses (gains), net The amount of gain (loss) recognized in AOCL and the amount of loss (gain) reclassified into earnings for the nine months ended September 30, 2021 and 2020, follow: Amount of Gain (Loss) Amount of Loss (Gain) Location of Gain (Loss) (Dollars in thousands) 2021 2020 2021 2020 Interest rate swaps $ 625 $ (15,783) $ (6,035) $ (2,970) Interest expense Cross currency swaps 3,215 (8,930) (234) 2,135 Interest expense $ (6,269) $ (835) Total Interest expense Cross currency swaps 3,410 (10,407) Foreign currency losses (gains), net $ 3,410 $ (10,407) Total Foreign currency losses (gains), net
Effect on Derivative Instruments on Consolidated Statements of Operations	The total amounts of expense and the respective line items in which the effect of cash flow hedges is presented in the condensed consolidated statement of operations for the three and nine months ended September 30, 2021 and 2020, are as follows: Three Months Ended Nine Months Ended (Dollars in thousands) 2021 2020 2021 2020 Interest expense $ 5,436 $ 4,767 $ 19,879 $ 16,474 Foreign currency losses, net 426 1,450 4,793 1,278
Gain (Loss) on Net Investment Hedges Recognized in AOCL, Amount Reclassified Into Earnings and Gain Recognized in Income on Derivative	The amount of gain (loss) on net investment hedges recognized in AOCL and the amount of gain recognized in income on derivative (amount excluded from effectiveness testing) for the three months ended September 30, 2021 and 2020, follow: Amount of Gain (Loss) Amount of Gain Location of Gain (Dollars in thousands) 2021 2020 2021 2020 Cross currency swaps $ — $ (4,285) $ — $ 259 Interest expense The amount of gain (loss) on net investment hedges recognized in AOCL and the amount of gain recognized in income on derivative (amount excluded from effectiveness testing) for the nine months ended September 30, 2021 and 2020, follow: Amount of Gain (Loss) Amount of Gain Location of Gain (Dollars in thousands) 2021 2020 2021 2020 Cross currency swaps $ — $ (3,195) $ — $ 1,651 Interest expense
Fair Value of Derivative Instruments on Consolidated Balance Sheets	The following table presents the fair values of our derivative instruments on our condensed consolidated balance sheets. All derivatives are reported on a gross basis. (Dollars in thousands) September 30, December 31, Balance Sheet Location Asset derivatives: Cross currency swaps $ 32 $ 9 Other current assets Cross currency swaps 1,424 — Other non-current assets Foreign currency forward contracts 1,133 2,649 Other current assets Liability derivatives: Interest rate swaps $ (8,450) $ (8,436) Accrued expenses and other current liabilities Interest rate swaps (9,145) (16,258) Other non-current liabilities Cross currency swaps — (67) Accrued expenses and other current liabilities Cross currency swaps — (5,104) Other non-current liabilities Foreign currency forward contracts (4,388) (630) Accrued expenses and other current liabilities
Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Effect on Derivative Instruments on Consolidated Statements of Operations	The following table presents the effect on our condensed consolidated statements of operations for the three and nine months ended September 30, 2021 and 2020, respectively, of our foreign currency forward contracts: Amount of Gain (Loss) Amount of Gain (Loss) Recognized in Earnings Location of Gain (Loss) in Earnings Three Months Ended Nine Months Ended (Dollars in thousands) 2021 2020 2021 2020 Foreign currency forward contracts $ (2,555) $ 3,586 $ (10,101) $ 3,996 Foreign currency losses (gains), net

Retirement Benefits (Tables)

Retirement Benefits (Tables)	9 Months Ended
	Sep. 30, 2021
Retirement Benefits [Abstract]
Summary of Net Periodic Benefit Cost (Credit)	Net periodic benefit cost (credit) of our U.S. pension plans (including our unfunded nonqualified plans), non-U.S. pension plans, and postretirement health care and life insurance benefit plans for the three months ended September 30, 2021 and 2020, respectively, follow: U.S. Pension Plans Non-U.S. Pension Plans Other Benefit Plans Three Months Ended September 30, (Dollars in thousands) 2021 2020 2021 2020 2021 2020 Service cost $ — $ 3 $ 315 $ 325 $ — $ 1 Interest cost 1,880 2,387 316 379 68 132 Expected return on plan assets (3,824) (3,708) (107) (128) — — Amortization of prior service cost — — (19) (5) — — Net periodic benefit (credit) cost $ (1,944) $ (1,318) $ 505 $ 571 $ 68 $ 133 Net periodic benefit cost (credit) of our U.S. pension plans (including our unfunded nonqualified plans), non-U.S. pension plans, and postretirement health care and life insurance benefit plans for the nine months ended September 30, 2021 and 2020, respectively, follow: U.S. Pension Plans Non-U.S. Pension Plans Other Benefit Plans Nine Months Ended September 30, (Dollars in thousands) 2021 2020 2021 2020 2021 2020 Service cost $ — $ 9 $ 987 $ 904 $ — $ 2 Interest cost 5,641 7,162 994 1,052 204 397 Expected return on plan assets (11,472) (11,124) (337) (356) — — Amortization of prior service cost — — (60) (14) — — Net periodic benefit (credit) cost $ (5,831) $ (3,953) $ 1,584 $ 1,586 $ 204 $ 399

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2021
Share-based Payment Arrangement [Abstract]
Details of Weighted-Average Grant-Date Fair Values and Assumptions Used for Estimating Fair Values	The following table details the weighted-average grant-date fair values and the assumptions used for estimating the fair values of stock option grants made during the nine months ended September 30, 2021: Stock Options Weighted-average grant-date fair value $ 5.94 Expected life, in years 6 Risk-free interest rate 0.76% Expected volatility 40.39%

Restructuring and Optimizatio_2

Restructuring and Optimization Programs (Tables)	9 Months Ended
	Sep. 30, 2021
Restructuring and Related Activities [Abstract]
Summary of Accruals Related to Restructuring and Optimization Programs	The charges associated with these programs are further summarized below. (Dollars in thousands) Employee Other Total Balances at December 31, 2020 $ 5,510 $ 4,460 $ 9,970 Restructuring charges 5,697 2,059 7,756 Cash payments (6,178) (1,454) (7,632) Balances at September 30, 2021 $ 5,029 $ 5,065 $ 10,094

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Calculation of Basic and Diluted Earnings Per Share	Details of the calculation of basic and diluted earnings per share are shown below: Three Months Ended Nine Months Ended (Dollars in thousands, except per share amounts) 2021 2020 2021 2020 Basic earnings per share computation: Income from continuing operations $ 11,679 $ 9,547 $ 47,664 $ 23,533 Less: Net income attributable to noncontrolling interests from continuing operations 482 451 1,237 793 Net income attributable to Ferro Corporation from continuing operations 11,197 9,096 46,427 22,740 Income (loss) from discontinued operations, net of income taxes (822) 5,367 87,484 2,350 Less: Net income (loss) attributable to noncontrolling interests from discontinued operations — (11) 64 33 Net income (loss) attributable to Ferro Corporation from discontinued operations (822) 5,378 87,420 2,317 Total $ 10,375 $ 14,474 $ 133,847 $ 25,057 Weighted-average common shares outstanding 82,719 82,261 82,627 82,201 Basic earnings per share from continuing operations attributable to Ferro Corporation common shareholders $ 0.14 $ 0.11 $ 0.56 $ 0.28 Diluted earnings per share computation: Net income attributable to Ferro Corporation from continuing operations $ 11,197 9,096 46,427 22,740 Net income (loss) attributable to Ferro Corporation from discontinued operations (822) 5,378 87,420 2,317 Total $ 10,375 $ 14,474 $ 133,847 $ 25,057 Weighted-average common shares outstanding 82,719 82,261 82,627 82,201 Assumed exercise of stock options 629 272 531 260 Assumed satisfaction of restricted stock unit conditions 155 157 200 300 Assumed satisfaction of performance share unit conditions 184 81 162 130 Weighted-average diluted shares outstanding 83,687 82,771 83,520 82,891 Diluted earnings per share from continuing operations attributable to Ferro Corporation common shareholders $ 0.13 $ 0.11 $ 0.56 $ 0.27

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
	Sep. 30, 2021
Equity [Abstract]
Changes in Accumulated Other Comprehensive Loss by Component, Net of Tax	Changes in accumulated other comprehensive loss by component, net of tax, were as follows: Three Months Ended September 30, (Dollars in thousands) Postretirement Foreign Net Gain (Loss) Total Balances at June 30, 2020 $ 1,206 $ (111,954) $ (23,607) $ (134,355) Other comprehensive income (loss) before reclassifications, before tax — 13,022 (11,261) 1,761 Reclassification to earnings: Cash flow hedge income (loss), before tax — — 11,357 11,357 Current period other comprehensive income (loss), before tax — 13,022 96 13,118 Tax effect — (1,052) (173) (1,225) Current period other comprehensive income (loss), net of tax — 14,074 269 14,343 Balances at September 30, 2020 $ 1,206 $ (97,880) $ (23,338) $ (120,012) Balances at June 30, 2021 $ 3,328 $ (130,283) $ (14,358) $ (141,313) Other comprehensive income (loss) before reclassifications, before tax — (5,391) 479 (4,912) Reclassification to earnings: Postretirement benefit liabilities income (loss), before tax 2 — — 2 Cash flow hedge income (loss), before tax — — 1,617 1,617 Current period other comprehensive income (loss), before tax 2 (5,391) 2,096 (3,293) Tax effect — (941) 543 (398) Current period other comprehensive income (loss), net of tax 2 (4,450) 1,553 (2,895) Balances at September 30, 2021 $ 3,330 $ (134,733) $ (12,805) $ (144,208) Nine Months Ended September 30, (Dollars in thousands) Postretirement Foreign Net Gain (Loss) Total Balances at December 31, 2019 $ 1,206 $ (97,575) $ (13,007) $ (109,376) Other comprehensive income (loss) before reclassifications, before tax — (1,427) (24,713) (26,140) Reclassification to earnings: Cash flow hedge income (loss), before tax — — 11,242 11,242 Current period other comprehensive income (loss), before tax — (1,427) (13,471) (14,898) Tax effect — (1,122) (3,140) (4,262) Current period other comprehensive income (loss), net of tax — (305) (10,331) (10,636) Balances at September 30, 2020 $ 1,206 $ (97,880) $ (23,338) $ (120,012) Balances at December 31, 2020 $ 3,199 $ (70,482) $ (22,427) $ (89,710) Other comprehensive income (loss) before reclassifications, before tax — (81,857) 3,840 (78,017) Reclassification to earnings: Postretirement benefit liabilities income (loss), before tax 131 — — 131 Currency translation reclassification to income on divestiture — 17,305 — 17,305 Amount reclassification to income (remote transaction) — — 4,509 4,509 Cash flow hedge income (loss), before tax — — 2,859 2,859 Current period other comprehensive income (loss), before tax 131 (64,552) 11,208 (53,213) Tax effect — (301) 1,586 1,285 Current period other comprehensive income (loss), net of tax 131 (64,251) 9,622 (54,498) Balances at September 30, 2021 $ 3,330 $ (134,733) $ (12,805) $ (144,208)

Reporting for Segments (Tables)

Reporting for Segments (Tables)	9 Months Ended
	Sep. 30, 2021
Segment Reporting [Abstract]
Net Sales to External Customers by Segment	Net sales to external customers by segment are presented in the table below. Sales between segments were not material. Three Months Ended Nine Months Ended (Dollars in thousands) 2021 2020 2021 2020 Functional Coatings $ 179,568 $ 154,218 $ 559,299 $ 441,325 Color Solutions 97,660 87,659 300,618 257,679 Total net sales $ 277,228 $ 241,877 $ 859,917 $ 699,004
Segment's Gross Profit and Reconciliations to Income (Loss) Before Income Taxes	Each segment’s gross profit and reconciliation to income before income taxes are presented in the table below: Three Months Ended Nine Months Ended (Dollars in thousands) 2021 2020 2021 2020 Functional Coatings $ 51,094 $ 41,906 $ 172,491 $ 125,842 Color Solutions 32,790 28,450 103,150 89,222 Other cost of sales (506) (190) (2,325) (416) Total gross profit 83,378 70,166 273,316 214,648 Selling, general and administrative expenses 54,520 47,820 167,384 154,407 Restructuring and impairment charges 602 2,447 7,756 12,231 Other expense, net 2,777 5,305 20,566 14,113 Income (loss) before income taxes $ 25,479 $ 14,594 $ 77,610 $ 33,897

Basis of Presentation (Details)

Basis of Presentation (Details)	May 11, 2021$ / shares
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash that will be received from share of restricted stock converted into the right (in USD per share)	$ 22

Revenue (Details)

Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Disaggregation of Revenue [Line Items]
Total net sales	$ 277,228	$ 241,877	$ 859,917	$ 699,004
Functional Coatings
Disaggregation of Revenue [Line Items]
Total net sales	179,568	154,218	559,299	441,325
Color Solutions
Disaggregation of Revenue [Line Items]
Total net sales	97,660	87,659	300,618	257,679
EMEA
Disaggregation of Revenue [Line Items]
Total net sales	115,694	95,553	372,635	288,244
EMEA | Functional Coatings
Disaggregation of Revenue [Line Items]
Total net sales	81,508	65,081	261,449	192,009
EMEA | Color Solutions
Disaggregation of Revenue [Line Items]
Total net sales	34,186	30,472	111,186	96,235
Americas
Disaggregation of Revenue [Line Items]
Total net sales	118,697	108,779	362,529	311,320
Americas | Functional Coatings
Disaggregation of Revenue [Line Items]
Total net sales	66,005	62,358	205,969	179,048
Americas | Color Solutions
Disaggregation of Revenue [Line Items]
Total net sales	52,692	46,421	156,560	132,272
Asia Pacific
Disaggregation of Revenue [Line Items]
Total net sales	42,837	37,545	124,753	99,440
Asia Pacific | Functional Coatings
Disaggregation of Revenue [Line Items]
Total net sales	32,055	26,779	91,881	70,268
Asia Pacific | Color Solutions
Disaggregation of Revenue [Line Items]
Total net sales	$ 10,782	$ 10,766	$ 32,872	$ 29,172

Discontinued Operations (Narrat

Discontinued Operations (Narrative) (Details) - USD ($) $ in Thousands	Feb. 25, 2021	Mar. 31, 2021	Sep. 30, 2021	Sep. 30, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net proceeds after expenses			$ 415,230	$ 0
Tile Coatings
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash from sale of business	$ 460,000
Net proceeds after expenses		$ 415,200
Discontinued Operations | Tile Coatings
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gains on sale of discontinued operations		$ 100,100	$ 100,057	$ 0

Discontinued Operations (Summar

Discontinued Operations (Summary of Statements of Operations as Discontinued Operations) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income (loss) from discontinued operations, net of income taxes	$ (822)	$ 5,367	$ 87,484	$ 2,350
Less: Net (loss) income attributable to noncontrolling interests	0	(11)	64	33
Net income attributable to Tile Coatings business	(822)	5,378	87,420	2,317
Discontinued Operations | Tile Coatings
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net sales	0	120,163	83,579	310,167
Cost of sales	0	89,120	60,634	235,095
Gross profit	0	31,043	22,945	75,072
Selling, general and administrative expenses	0	18,549	20,327	52,899
Restructuring and impairment charges	0	269	303	2,306
Interest expense	0	2,950	1,682	7,698
Interest earned	0	(21)	(189)	(174)
Foreign currency losses, net	0	113	363	5,074
Gain on sale of business, net	0	0	(100,057)	0
Miscellaneous expense, net	0	173	251	1,420
Income from discontinued operations before income taxes	0	9,010	100,265	5,849
Income tax expense	822	3,643	12,781	3,499
Income (loss) from discontinued operations, net of income taxes	(822)	5,367	87,484	2,350
Less: Net (loss) income attributable to noncontrolling interests	0	(11)	64	33
Net income attributable to Tile Coatings business	$ (822)	$ 5,378	$ 87,420	$ 2,317

Discontinued Operations (Summ_2

Discontinued Operations (Summary of Assets and Liabilities Classified as Held-for-Sale) (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash and cash equivalents	$ 0		$ 8,200
Current assets held-for-sale	0	$ 307,854
Deferred income taxes	108,426	115,962
Non-current assets held-for-sale	0	154,207
Current liabilities held-for-sale	0	107,545
Non-current liabilities held-for-sale	$ 0	71,149
Tile Coatings | Discontinued Operations, Held-For-Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash and cash equivalents		8,200
Accounts receivable, net		211,548
Inventories		84,239
Other receivables		1,630
Other current assets		2,237
Current assets held-for-sale		307,854
Property, plant and equipment, net		93,430
Intangible assets, net		42,126
Deferred income taxes		12,267
Other non-current assets		6,384
Non-current assets held-for-sale		154,207
Total assets held-for-sale		462,061
Loans payable and current portion of long-term debt		3,927
Accounts payable		85,308
Accrued payrolls		5,946
Accrued expenses and other current liabilities		12,364
Current liabilities held-for-sale		107,545
Long-term debt, less current portion		56,359
Postretirement and pension liabilities		8,119
Other non-current liabilities		6,671
Non-current liabilities held-for-sale		71,149
Total liabilities held-for-sale		$ 178,694

Discontinued Operations (Summ_3

Discontinued Operations (Summary of Cash Flow Data Related to Discontinued Operations) (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Mar. 31, 2021	Sep. 30, 2021	Sep. 30, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Non-cash investing activities - capital expenditures, consisting of unpaid capital expenditure liabilities at period end		$ 2,500	$ 2,900
Tile Coatings | Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Capital expenditures		(1,074)	(3,048)
Gain on sale of discontinued operations	$ (100,100)	(100,057)	0
Non-cash operating activities - restructuring and impairment charges		0	1,091
Non-cash investing activities - capital expenditures, consisting of unpaid capital expenditure liabilities at period end		$ 0	$ 683

Inventories (Summary of Invento

Inventories (Summary of Inventories) (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Inventory Disclosure [Abstract]
Raw materials	$ 80,430	$ 81,344
Work in process	47,064	48,770
Finished goods	140,500	130,218
Total inventories	$ 267,994	$ 260,332

Inventories (Narrative) (Detail

Inventories (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Inventory Disclosure [Abstract]
Terms of precious metals consignment agreements, maximum			1 year
Fees under precious metals consignment agreements	$ 0.7	$ 0.6	$ 2.1	$ 2.3
Fair value of precious metals on hand under consignment agreements	$ 80.7		$ 80.7		$ 87.2

Property, Plant and Equipment (

Property, Plant and Equipment (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Property, plant and equipment net of accumulated depreciation	$ 453.1		$ 456.3
Unpaid capital expenditure liabilities	$ 2.5	$ 2.9
Discontinued Operations, Held-For-Sale | Tile Coatings
Property, Plant and Equipment [Line Items]
Property, plant and equipment net of accumulated depreciation			$ 135.3

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets (Details and Activity of Goodwill by Segment) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2021USD ($)
Goodwill [Roll Forward]
Goodwill, net at December 31, 2020	$ 175,351
Foreign currency adjustments	(2,383)
Goodwill, net at September 30, 2021	172,968
Functional Coatings
Goodwill [Roll Forward]
Goodwill, net at December 31, 2020	123,570
Foreign currency adjustments	(1,816)
Goodwill, net at September 30, 2021	121,754
Color Solutions
Goodwill [Roll Forward]
Goodwill, net at December 31, 2020	51,781
Foreign currency adjustments	(567)
Goodwill, net at September 30, 2021	$ 51,214

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets (Schedule of Impairment of Goodwill) (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill, gross	$ 231,435	$ 233,818
Accumulated impairment	(58,467)	(58,467)
Goodwill, net	$ 172,968	$ 175,351

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets (Details of Amortizable Intangible Assets) (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Amortization of Intangible Assets [Line Items]
Total gross amortizable intangible assets	$ 191,106	$ 192,919
Total accumulated amortization	(93,928)	(86,617)
Amortizable intangible assets, net	97,178	106,302
Patents
Amortization of Intangible Assets [Line Items]
Total gross amortizable intangible assets	5,494	5,589
Total accumulated amortization	(5,472)	(5,566)
Land rights
Amortization of Intangible Assets [Line Items]
Total gross amortizable intangible assets	3,215	3,173
Total accumulated amortization	(1,718)	(1,630)
Technology/know-how and other
Amortization of Intangible Assets [Line Items]
Total gross amortizable intangible assets	116,121	116,015
Total accumulated amortization	(67,541)	(61,104)
Customer relationships
Amortization of Intangible Assets [Line Items]
Total gross amortizable intangible assets	66,276	68,142
Total accumulated amortization	$ (19,197)	$ (18,317)

Goodwill and Other Intangible_6

Goodwill and Other Intangible Assets (Schedule of Indefinite-Lived Intangible Assets) (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Trade names and trademarks
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	$ 12,871	$ 13,198

Debt (Summary of Loans Payable

Debt (Summary of Loans Payable and Current Portion of Long-Term Debt) (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Short-term Debt [Line Items]
Loans payable and current portion of long-term debt	$ 8,888	$ 8,839
Current portion of long-term debt
Short-term Debt [Line Items]
Loans payable and current portion of long-term debt	8,888	8,839
Loans payable and current portion of long-term debt
Short-term Debt [Line Items]
Loans payable and current portion of long-term debt	$ 8,888	$ 8,839

Debt (Summary of Long-Term Debt

Debt (Summary of Long-Term Debt, Less Current Portion) (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Total long-term debt	$ 361,583	$ 800,348
Current portion of long-term debt	(8,888)	(8,839)
Long-term debt, less current portion	352,695	791,509
Term loan facility, net of unamortized issuance costs, maturing 2024
Debt Instrument [Line Items]
Total long-term debt	355,058	793,731
Unamortized debt issuance expense	1,200	3,700
Finance lease obligations
Debt Instrument [Line Items]
Total long-term debt	2,663	2,911
Other notes
Debt Instrument [Line Items]
Total long-term debt	$ 3,862	$ 3,706

Debt (Amended Credit Facility)

Debt (Amended Credit Facility) (Details) - USD ($)	Feb. 25, 2021	Apr. 25, 2018	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Debt Instrument [Line Items]
Additional commitments under the revolving line of credit or term loans		$ 250,000,000
Long-term debt			$ 361,583,000		$ 361,583,000		$ 800,348,000
Loss on extinguishment of debt			0	$ 0	1,981,000	$ 0
Tranche B-1 Loans
Debt Instrument [Line Items]
Pay down amount	$ 188,300,000
Tranche B-2 Loans
Debt Instrument [Line Items]
Pay down amount	124,700,000
Tranche B-3 Loans
Debt Instrument [Line Items]
Pay down amount	122,000,000
Tranche B-1, B-2, And B-3
Debt Instrument [Line Items]
Pay down amount	$ 435,000,000
Amended Credit Facility
Debt Instrument [Line Items]
Borrowings available			$ 496,100,000		$ 496,100,000
Revolving Credit Facility | Federal Funds Effective Swap Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate					0.50%
Revolving Credit Facility | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate					1.00%
Revolving Credit Facility | London Interbank Offered Rate (LIBOR) | Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate					0.00%
Debt instrument, effective interest rate			1.50%		1.50%
Revolving Credit Facility | London Interbank Offered Rate (LIBOR) | Maximum
Debt Instrument [Line Items]
Debt instrument, effective interest rate			2.50%		2.50%
Revolving Credit Facility | Base Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate					0.00%
Revolving Credit Facility | Base Rate | Minimum
Debt Instrument [Line Items]
Debt instrument, effective interest rate			0.50%		0.50%
Revolving Credit Facility | Base Rate | Maximum
Debt Instrument [Line Items]
Debt instrument, effective interest rate			1.50%		1.50%
2018 Revolving Credit Facility
Debt Instrument [Line Items]
Long-term line of credit			$ 0		$ 0
Secured Debt | Secured Term Loan Facility | Federal Funds Effective Swap Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		0.50%
Secured Debt | Secured Term Loan Facility | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		1.00%
Debt instrument, effective interest rate		2.25%
Secured Debt | Secured Term Loan Facility | London Interbank Offered Rate (LIBOR) | Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		0.00%
Secured Debt | Secured Term Loan Facility | Base Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		0.00%
Debt instrument, effective interest rate		1.25%
Secured Debt | Tranche B-1 Loans
Debt Instrument [Line Items]
Long-term debt			$ 154,300,000		$ 154,300,000
Debt stated interest rate			2.38%		2.38%
Secured Debt | Tranche B-2 Loans
Debt Instrument [Line Items]
Long-term debt			$ 102,100,000		$ 102,100,000
Debt stated interest rate			2.38%		2.38%
Secured Debt | Tranche B-3 Loans
Debt Instrument [Line Items]
Long-term debt			$ 99,900,000		$ 99,900,000
Debt stated interest rate			2.38%		2.38%
Secured Debt | Tranche B-1, B-2, And B-3
Debt Instrument [Line Items]
Debt instrument, effective interest rate			4.84%		4.84%
Additional borrowings available under the term loan facility			$ 0		$ 0
Secured Debt | Amended Credit Facility
Debt Instrument [Line Items]
Equal quarterly installments in an amount equal to percentage of the original principal amount of the term loans		0.25%
Secured Debt | Amended Credit Facility | Secured Revolving Line of Credit 500 Million
Debt Instrument [Line Items]
Debt facility amount		$ 500,000,000
Debt instrument, maturity date		Feb. 14, 2023
Secured Debt | Amended Credit Facility | Secured Term Loan Facility $355 Million
Debt Instrument [Line Items]
Debt instrument, maturity date		Feb. 14, 2024
Debt amount issued		$ 355,000,000
Secured Debt | Amended Credit Facility | Secured Term Loan Facility $235 Million
Debt Instrument [Line Items]
Debt instrument, maturity date		Feb. 14, 2024
Debt amount issued		$ 235,000,000
Secured Debt | Amended Credit Facility | Secured Term Loan Facility $230 Million
Debt Instrument [Line Items]
Debt instrument, maturity date		Feb. 14, 2024
Debt amount issued		$ 230,000,000
U.S. Subsidiaries
Debt Instrument [Line Items]
Stock pledged as collateral, percentage		100.00%
Foreign Subsidiaries
Debt Instrument [Line Items]
Stock pledged as collateral, percentage		65.00%

Debt (Receivable Sales Program)

Debt (Receivable Sales Program) (Details) $ in Millions	9 Months Ended
	Sep. 30, 2021USD ($)	Sep. 30, 2021EUR (€)	Dec. 31, 2020USD ($)
Debt Instrument [Line Items]
Accrued expenses and other current liabilities	$ 39.3		$ 36
Receivable Sales Programs
Debt Instrument [Line Items]
Debt amount issued | €		€ 85,000,000
Debt instrument, maturity date	Dec. 31, 2023
Percentage of cash receivable of sold receivable	80.00%
Outstanding debt amount	$ 38.5		24.5
Other Receivables	$ 7.7		$ 9.8

Debt (Schedule of Trade Account

Debt (Schedule of Trade Accounts Receivable in International Receivable Sales Programs) (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Sep. 30, 2020
Debt Instrument [Line Items]
Trade accounts receivable sold to financial institutions	$ 467,245	$ 206,104
Cash proceeds from financial institutions	$ 375,196	139,549
Discontinued Operations, Held-For-Sale | Tile Coating Systems
Debt Instrument [Line Items]
Cash proceeds from financial institutions		$ 47,300

Debt (Other Financing Arrangeme

Debt (Other Financing Arrangements) (Details) - Other Financing Arrangements - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Maximum available in form of cash or letters of credit	$ 25	$ 28.1
Line of Credit Facility, Remaining Borrowing Capacity	$ 25	$ 25

Financial Instruments (Financia

Financial Instruments (Financial Instruments Assets (Liabilities) Measured at Fair Value) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Sep. 30, 2021
Financial Instruments and Fair Value Measurements [Line Items]
Cash and cash equivalents, Carrying Amount	$ 174,077	$ 148,754
Long-term debt, Carrying Amount	(800,348)	(361,583)
Cash and cash equivalents, Fair Value	174,077	148,754
Term loan facility, net of unamortized issuance costs, maturing 2024
Financial Instruments and Fair Value Measurements [Line Items]
Long-term debt, Carrying Amount	(793,731)	(355,058)
Unamortized debt issuance expense	3,700	1,200
Cross currency swaps
Financial Instruments and Fair Value Measurements [Line Items]
Cross currency swaps-assets, Carrying Amount		1,456
Cross currency swaps-liabilities, Carrying Amount	(5,162)
Cross currency swaps, Fair Value		1,456
Cross currency swaps, Fair Value	(5,162)
Interest rate swaps
Financial Instruments and Fair Value Measurements [Line Items]
Interest rate swaps-liabilities, Carrying Amount	(24,694)	(17,595)
Interest rate swaps-liabilities, Fair Value	(24,694)	(17,595)
Foreign currency forward contracts, net
Financial Instruments and Fair Value Measurements [Line Items]
Foreign currency forward contracts, net, Carrying amount		(3,255)
Foreign currency forward contracts, net, Carrying amount	2,019
Foreign currency forward contracts, net, Fair Value		(3,255)
Foreign currency forward contracts, net, Fair Value	2,019
Term loan facility - Amended Credit Facility
Financial Instruments and Fair Value Measurements [Line Items]
Long-term debt, Carrying Amount	(793,731)	(355,058)
Long-term debt, Fair Value	(783,143)	(354,382)
Other long-term notes payable
Financial Instruments and Fair Value Measurements [Line Items]
Long-term debt, Carrying Amount	(3,706)	(3,862)
Long-term debt, Fair Value	(1,887)	(2,324)
Level 1
Financial Instruments and Fair Value Measurements [Line Items]
Cash and cash equivalents, Fair Value	174,077	148,754
Level 1 | Cross currency swaps
Financial Instruments and Fair Value Measurements [Line Items]
Cross currency swaps, Fair Value		0
Cross currency swaps, Fair Value	0
Level 1 | Interest rate swaps
Financial Instruments and Fair Value Measurements [Line Items]
Interest rate swaps-liabilities, Fair Value	0	0
Level 1 | Foreign currency forward contracts, net
Financial Instruments and Fair Value Measurements [Line Items]
Foreign currency forward contracts, net, Fair Value		0
Foreign currency forward contracts, net, Fair Value	0
Level 1 | Term loan facility - Amended Credit Facility
Financial Instruments and Fair Value Measurements [Line Items]
Long-term debt, Fair Value	0	0
Level 1 | Other long-term notes payable
Financial Instruments and Fair Value Measurements [Line Items]
Long-term debt, Fair Value	0	0
Level 2
Financial Instruments and Fair Value Measurements [Line Items]
Cash and cash equivalents, Fair Value	0	0
Level 2 | Cross currency swaps
Financial Instruments and Fair Value Measurements [Line Items]
Cross currency swaps, Fair Value		1,456
Cross currency swaps, Fair Value	(5,162)
Level 2 | Interest rate swaps
Financial Instruments and Fair Value Measurements [Line Items]
Interest rate swaps-liabilities, Fair Value	(24,694)	(17,595)
Level 2 | Foreign currency forward contracts, net
Financial Instruments and Fair Value Measurements [Line Items]
Foreign currency forward contracts, net, Fair Value		(3,255)
Foreign currency forward contracts, net, Fair Value	2,019
Level 2 | Term loan facility - Amended Credit Facility
Financial Instruments and Fair Value Measurements [Line Items]
Long-term debt, Fair Value	(783,143)	(354,382)
Level 2 | Other long-term notes payable
Financial Instruments and Fair Value Measurements [Line Items]
Long-term debt, Fair Value	(1,887)	(2,324)
Level 3
Financial Instruments and Fair Value Measurements [Line Items]
Cash and cash equivalents, Fair Value	0	0
Level 3 | Cross currency swaps
Financial Instruments and Fair Value Measurements [Line Items]
Cross currency swaps, Fair Value		0
Cross currency swaps, Fair Value	0
Level 3 | Interest rate swaps
Financial Instruments and Fair Value Measurements [Line Items]
Interest rate swaps-liabilities, Fair Value	0	0
Level 3 | Foreign currency forward contracts, net
Financial Instruments and Fair Value Measurements [Line Items]
Foreign currency forward contracts, net, Fair Value		0
Foreign currency forward contracts, net, Fair Value	0
Level 3 | Term loan facility - Amended Credit Facility
Financial Instruments and Fair Value Measurements [Line Items]
Long-term debt, Fair Value	0	0
Level 3 | Other long-term notes payable
Financial Instruments and Fair Value Measurements [Line Items]
Long-term debt, Fair Value	$ 0	$ 0

Financial Instruments (Narrativ

Financial Instruments (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Notional amount	$ 705.7		$ 705.7		$ 494.2
Payments to settle derivatives termination			3.5
Amount reclassified from AOCL to Interest expense of remote transaction			4.5
Gain (loss) from the change in fair value of financial instruments	(2.6)	$ 3.6	(10.1)	$ 4
Interest rate swaps | Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Notional amount	308.8		308.8
Net loss to be reclassified during next 12 months, net	8.5		8.5
Cross currency swaps | Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Notional amount	38.6		38.6
Net loss to be reclassified during next 12 months, net	$ 0.1		$ 0.1

Financial Instruments (Schedule

Financial Instruments (Schedule of Gain (Loss) Recognized in AOCL and the Amount of Gain (Loss) Reclassified into Earnings) (Details) - Cash Flow Hedging - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Interest expense
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Loss (Gain) Reclassified from AOCL into Income	$ (2,533)	$ (1,532)	$ (6,269)	$ (835)
Foreign currency losses (gains), net
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Loss (Gain) Reclassified from AOCL into Income	916	(9,825)	3,410	(10,407)
Interest rate swaps | Interest expense
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in AOCL	(428)	(975)	625	(15,783)
Amount of Loss (Gain) Reclassified from AOCL into Income	(2,422)	(1,648)	(6,035)	(2,970)
Cross currency swaps | Interest expense
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in AOCL	907	(10,286)	3,215	(8,930)
Amount of Loss (Gain) Reclassified from AOCL into Income	(111)	116	(234)	2,135
Cross currency swaps | Foreign currency losses (gains), net
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Loss (Gain) Reclassified from AOCL into Income	$ 916	$ (9,825)	$ 3,410	$ (10,407)

Financial Instruments (Effect o

Financial Instruments (Effect on Derivative Instruments on Consolidated Statements of Operations) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Interest expense	$ 5,436	$ 4,767	$ 19,879	$ 16,474
Foreign currency losses, net	426	1,450	4,793	1,278
Foreign currency forward contracts, net
Derivative Instruments, Gain (Loss) [Line Items]
Foreign currency losses, net	$ (2,555)	$ 3,586	$ (10,101)	$ 3,996

Financial Instruments (Gain (Lo

Financial Instruments (Gain (Loss) on Net Investment Hedges Recognized in AOCL, Amount Reclassified into Earnings and Gain Recognized in Income on Derivative) (Details) - Cross currency swaps - Net Investment Hedging - Interest expense - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in AOCL	$ 0	$ (4,285)	$ 0	$ (3,195)
Amount of Gain Recognized in Income on Derivative (Amount Excluded from Effectiveness Testing)	$ 0	$ 259	$ 0	$ 1,651

Financial Instruments (Fair Val

Financial Instruments (Fair Value of Derivative Instruments on Consolidated Balance Sheets) (Details) - Not Designated as Hedging Instrument - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Other current assets | Cross currency swaps
Derivatives, Fair Value [Line Items]
Derivative asset, fair value, gross asset	$ 32	$ 9
Other current assets | Foreign currency forward contracts, net
Derivatives, Fair Value [Line Items]
Derivative asset, fair value, gross asset	1,133	2,649
Other non-current assets | Cross currency swaps
Derivatives, Fair Value [Line Items]
Derivative asset, fair value, gross asset	1,424	0
Accrued expenses and other current liabilities | Cross currency swaps
Derivatives, Fair Value [Line Items]
Liability derivatives	0	(67)
Accrued expenses and other current liabilities | Foreign currency forward contracts, net
Derivatives, Fair Value [Line Items]
Liability derivatives	(4,388)	(630)
Accrued expenses and other current liabilities | Interest rate swaps
Derivatives, Fair Value [Line Items]
Liability derivatives	(8,450)	(8,436)
Other non-current liabilities | Cross currency swaps
Derivatives, Fair Value [Line Items]
Liability derivatives	0	(5,104)
Other non-current liabilities | Interest rate swaps
Derivatives, Fair Value [Line Items]
Liability derivatives	$ (9,145)	$ (16,258)

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Income tax expense	$ 13,800	$ 5,047	$ 29,946	$ 10,364
Percentage of pre-tax income	38.60%	30.60%	38.60%	30.60%
Effective income tax rate reconciliation, at federal statutory income tax rate, percent			21.00%	21.00%

Contingent Liabilities (Details

Contingent Liabilities (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Undiscounted remediation liability associated with environmentally contaminated non-operating facility	$ 5.3	$ 5.7

Retirement Benefits (Summary of

Retirement Benefits (Summary of Net Periodic Benefit Cost (Credit)) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 0	$ 3	$ 0	$ 9
Interest cost	1,880	2,387	5,641	7,162
Expected return on plan assets	(3,824)	(3,708)	(11,472)	(11,124)
Amortization of prior service cost	0	0	0	0
Net periodic benefit (credit) cost	(1,944)	(1,318)	(5,831)	(3,953)
Non-U.S. Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	315	325	987	904
Interest cost	316	379	994	1,052
Expected return on plan assets	(107)	(128)	(337)	(356)
Amortization of prior service cost	(19)	(5)	(60)	(14)
Net periodic benefit (credit) cost	505	571	1,584	1,586
Other Benefit Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	0	1	0	2
Interest cost	68	132	204	397
Expected return on plan assets	0	0	0	0
Amortization of prior service cost	0	0	0	0
Net periodic benefit (credit) cost	$ 68	$ 133	$ 204	$ 399

Stock-Based Compensation (Narra

Stock-Based Compensation (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	May 03, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of share of common stock reserved under plan (in shares)					4,500,000
Recognized stock-based compensation expense	$ 1.4	$ 1.6	$ 6.5	$ 7.1
Unearned compensation cost related to the unvested portion of all stock-based awards	$ 9.8		$ 9.8
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of share based compensation units granted (in shares)			300,000
Weighted-average grant-date fair value (in USD per share)			$ 5.94
Performance Share Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of share based compensation units granted (in shares)			200,000
Weighted-average grant-date fair value (in USD per share)			$ 16
Deferred Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of share based compensation units granted (in shares)			200,000
Weighted average grant date fair value (in USD per share)	$ 15.07		$ 15.07
Vesting period			3 years

Stock-Based Compensation (Detai

Stock-Based Compensation (Details of Weighted-Average Grant-Date Fair Values and Assumptions Used for Estimating Fair Values) (Details) - Stock Options	9 Months Ended
	Sep. 30, 2021$ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average grant-date fair value (in USD per share)	$ 5.94
Expected life, in years	6 years
Risk-free interest rate	0.76%
Expected volatility	40.39%

Restructuring and Optimizatio_3

Restructuring and Optimization Programs (Narrative) (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021USD ($)site	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)site	Sep. 30, 2020USD ($)
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	$ 0.6	$ 2.4	$ 7.8	$ 12.2
Period expected for cash payments for employee benefits and other costs			12 months
Organizational Optimization Plan
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	0.2	1.2	$ 3.2	1.2
Total expected restructuring charges	5.7		5.7
Americas Manufacturing Optimization Plan
Restructuring Cost and Reserve [Line Items]
Additional restructuring charges	0.1		2.5	1.1
Total expected restructuring charges	$ 9.5		$ 9.5
Number of consolidating plants | site	2		2
Number of consolidating sites | site	2		2
Global Optimization Plan
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	$ 0.3	1.2	$ 2.1	9.9
Discontinued Operations | Tile Coating Systems
Restructuring Cost and Reserve [Line Items]
Additional restructuring charges		$ 0.3	$ 0.3	$ 2.3

Restructuring and Optimizatio_4

Restructuring and Optimization Programs (Summary of Accruals Related to Restructuring and Optimization Programs) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2021USD ($)
Restructuring Reserve [Roll Forward]
Balances at December 31, 2020	$ 9,970
Restructuring charges	7,756
Cash payments	(7,632)
Balances at September 30, 2021	10,094
Employee Severance
Restructuring Reserve [Roll Forward]
Balances at December 31, 2020	5,510
Restructuring charges	5,697
Cash payments	(6,178)
Balances at September 30, 2021	5,029
Other Costs
Restructuring Reserve [Roll Forward]
Balances at December 31, 2020	4,460
Restructuring charges	2,059
Cash payments	(1,454)
Balances at September 30, 2021	$ 5,065

Earnings Per Share (Calculation

Earnings Per Share (Calculation of Basic and Diluted Earnings Per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Basic earnings per share computation:
Income from continuing operations	$ 11,679	$ 9,547	$ 47,664	$ 23,533
Less: Net income attributable to noncontrolling interests from continuing operations	482	451	1,237	793
Net income attributable to Ferro Corporation from continuing operations	11,197	9,096	46,427	22,740
Income (loss) from discontinued operations, net of income taxes	(822)	5,367	87,484	2,350
Less: Net income (loss) attributable to noncontrolling interests from discontinued operations	0	(11)	64	33
Net income (loss) attributable to Ferro Corporation from discontinued operations	(822)	5,378	87,420	2,317
Net income attributable to Ferro Corporation common shareholders	$ 10,375	$ 14,474	$ 133,847	$ 25,057
Weighted-average common shares outstanding	82,719	82,261	82,627	82,201
Basic earnings per share from continuing operations attributable to Ferro Corporation common shareholders (in USD per share)	$ 0.14	$ 0.11	$ 0.56	$ 0.28
Diluted earnings per share computation:
Net income attributable to Ferro Corporation from continuing operations	$ 11,197	$ 9,096	$ 46,427	$ 22,740
Net income (loss) attributable to Ferro Corporation from discontinued operations	(822)	5,378	87,420	2,317
Net Income attributable to Ferro Corporation common stockholders, diluted	$ 10,375	$ 14,474	$ 133,847	$ 25,057
Weighted-average common shares outstanding	82,719	82,261	82,627	82,201
Assumed exercise of stock options (in shares)	629	272	531	260
Assumed satisfaction of restricted stock unit conditions (in shares)	155	157	200	300
Assumed satisfaction of performance share unit conditions (in shares)	184	81	162	130
Weighted-average diluted shares outstanding	83,687	82,771	83,520	82,891
Diluted earnings per share from continuing operations attributable to Ferro Corporation common shareholders (in USD per share)	$ 0.13	$ 0.11	$ 0.56	$ 0.27

Earnings Per Share (Narrative)

Earnings Per Share (Narrative) (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Earnings Per Share [Abstract]
Anti-dilutive securities excluded from computation of earnings per share (in shares)	2	2.8	2	2.7

Share Repurchase Programs (Deta

Share Repurchase Programs (Details)	Sep. 30, 2021USD ($)
Equity [Abstract]
Stock repurchase program, authorized amount	$ 150,000,000
Stock repurchase program, remaining authorized amount	$ 46,200,000

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss (Changes in Accumulated Other Comprehensive Loss by Component, Net of Tax) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ 512,292	$ 360,655	$ 440,935	$ 370,202
Amount reclassification to income (remote transaction)			4,500
Ending balance	522,002	390,908	522,002	390,908
Total
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(141,313)	(134,355)	(89,710)	(109,376)
Other comprehensive income (loss) before reclassifications, before tax	(4,912)	1,761	(78,017)	(26,140)
Cash flow hedge income (loss), before tax	1,617	11,357	2,859	11,242
Postretirement benefit liabilities income (loss), before tax	2		131
Currency translation reclassification to income on divestiture			17,305
Amount reclassification to income (remote transaction)			4,509
Current period other comprehensive income (loss), before tax	(3,293)	13,118	(53,213)	(14,898)
Tax effect	(398)	(1,225)	1,285	(4,262)
Current period other comprehensive income (loss), net of tax	(2,895)	14,343	(54,498)	(10,636)
Ending balance	(144,208)	(120,012)	(144,208)	(120,012)
Postretirement Benefit Liability Adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	3,328	1,206	3,199	1,206
Other comprehensive income (loss) before reclassifications, before tax	0	0	0	0
Cash flow hedge income (loss), before tax	0	0	0	0
Postretirement benefit liabilities income (loss), before tax	2		131
Currency translation reclassification to income on divestiture			0
Amount reclassification to income (remote transaction)			0
Current period other comprehensive income (loss), before tax	2	0	131	0
Tax effect	0	0	0	0
Current period other comprehensive income (loss), net of tax	2	0	131	0
Ending balance	3,330	1,206	3,330	1,206
Foreign Currency Items
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(130,283)	(111,954)	(70,482)	(97,575)
Other comprehensive income (loss) before reclassifications, before tax	(5,391)	13,022	(81,857)	(1,427)
Cash flow hedge income (loss), before tax	0	0	0	0
Postretirement benefit liabilities income (loss), before tax	0		0
Currency translation reclassification to income on divestiture			17,305
Amount reclassification to income (remote transaction)			0
Current period other comprehensive income (loss), before tax	(5,391)	13,022	(64,552)	(1,427)
Tax effect	(941)	(1,052)	(301)	(1,122)
Current period other comprehensive income (loss), net of tax	(4,450)	14,074	(64,251)	(305)
Ending balance	(134,733)	(97,880)	(134,733)	(97,880)
Net Gain (Loss) on Cash Flow Hedges
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(14,358)	(23,607)	(22,427)	(13,007)
Other comprehensive income (loss) before reclassifications, before tax	479	(11,261)	3,840	(24,713)
Cash flow hedge income (loss), before tax	1,617	11,357	2,859	11,242
Postretirement benefit liabilities income (loss), before tax	0		0
Currency translation reclassification to income on divestiture			0
Amount reclassification to income (remote transaction)			4,509
Current period other comprehensive income (loss), before tax	2,096	96	11,208	(13,471)
Tax effect	543	(173)	1,586	(3,140)
Current period other comprehensive income (loss), net of tax	1,553	269	9,622	(10,331)
Ending balance	$ (12,805)	$ (23,338)	$ (12,805)	$ (23,338)

Reporting for Segments (Net Sal

Reporting for Segments (Net Sales to External Customers by Segment) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Segment Reporting Information [Line Items]
Total net sales	$ 277,228	$ 241,877	$ 859,917	$ 699,004
Functional Coatings
Segment Reporting Information [Line Items]
Total net sales	179,568	154,218	559,299	441,325
Color Solutions
Segment Reporting Information [Line Items]
Total net sales	$ 97,660	$ 87,659	$ 300,618	$ 257,679

Reporting for Segments (Segment

Reporting for Segments (Segment's Gross Profit and Reconciliations to Income (Loss) Before Income Taxes) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total gross profit	$ 83,378	$ 70,166	$ 273,316	$ 214,648
Selling, general and administrative expenses	54,520	47,820	167,384	154,407
Restructuring and impairment charges	602	2,447	7,756	12,231
Other expense, net	2,777	5,305	20,566	14,113
Income before income taxes	25,479	14,594	77,610	33,897
Operating Segments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total gross profit	83,378	70,166	273,316	214,648
Functional Coatings | Operating Segments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total gross profit	51,094	41,906	172,491	125,842
Color Solutions | Operating Segments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total gross profit	32,790	28,450	103,150	89,222
Other cost of sales | Operating Segments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total gross profit	$ (506)	$ (190)	$ (2,325)	$ (416)