Magnera (MAGN) 10-Q 8 Aug 24 2024 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2024	Aug. 05, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
Document Transition Report	false
Entity Address, Address Line One	4350 Congress Street
Entity Address, Address Line Two	Suite 600
Entity Address, City or Town	Charlotte
Entity Address, State or Province	NC
Entity Address, Postal Zip Code	28209
City Area Code	704
Local Phone Number	885-2555
Entity File Number	1-03560
Entity Registrant Name	Glatfelter Corporation
Entity Tax Identification Number	23-0628360
Entity Incorporation, State or Country Code	PA
Title of 12(b) Security	Common Stock
Trading Symbol	GLT
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		45,397,132
Amendment Flag	false
Entity Central Index Key	0000041719
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2024

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Statement [Abstract]
Net sales	$ 329,443	$ 357,005	$ 656,699	$ 735,213
Costs of products sold	292,656	338,872	585,402	680,866
Gross profit	36,787	18,133	71,297	54,347
Selling, general and administrative expenses	29,420	28,639	65,477	59,384
Losses (gains) on dispositions of plant, equipment and timberlands, net	73	(21)	71	(665)
Operating income (loss)	7,294	(10,485)	5,749	(4,372)
Non-operating income (expense)
Interest expense	(17,900)	(17,261)	(35,585)	(29,855)
Interest income	273	559	534	830
Other, net	(2,509)	(3,045)	(4,536)	(6,323)
Total non-operating expense	(20,136)	(19,747)	(39,587)	(35,348)
Loss from continuing operations before income taxes	(12,842)	(30,232)	(33,838)	(39,720)
Income tax provision	2,953	6,399	8,107	10,093
Loss from continuing operations	(15,795)	(36,631)	(41,945)	(49,813)
Discontinued operations:
Loss before income taxes	(484)	(309)	(681)	(711)
Income tax provision	0	0	0	0
Loss from discontinued operations	(484)	(309)	(681)	(711)
Net loss	$ (16,279)	$ (36,940)	$ (42,626)	$ (50,524)
Basic earnings per share
Loss from continuing operations (in dollars per share)	$ (0.35)	$ (0.82)	$ (0.93)	$ (1.11)
Loss from discontinued operations (in dollars per share)	(0.02)	(0.01)	(0.02)	(0.02)
Basic loss per share (in dollars per share)	(0.37)	(0.83)	(0.95)	(1.13)
Diluted earnings per share
Loss from continuing operations (in dollars per share)	(0.35)	(0.82)	(0.93)	(1.11)
Loss from discontinued operations (in dollars per share)	(0.02)	(0.01)	(0.02)	(0.02)
Diluted loss per share (in dollars per share)	$ (0.37)	$ (0.83)	$ (0.95)	$ (1.13)
Weighted average shares outstanding
Basic (in shares)	45,338	45,041	45,261	44,999
Diluted (in shares)	45,338	45,041	45,261	44,999

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Net loss	$ (16,279)	$ (36,940)	$ (42,626)	$ (50,524)
Foreign currency translation adjustments	(1,978)	2,820	(11,142)	9,483
Net change in:
Deferred (losses) gains on derivatives, net of taxes of $107, $96, (511) and $149, respectively	(361)	(11)	1,081	146
Unrecognized retirement obligations, net of taxes of $(8), $(3), (15) and $(4), respectively	22	18	42	670
Other comprehensive income (loss)	(2,317)	2,827	(10,019)	10,299
Comprehensive loss	$ (18,596)	$ (34,113)	$ (52,645)	$ (40,225)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Deferred gains (losses) on derivatives, net of tax expense (benefit)	$ 107	$ 96	$ (511)	$ 149
Unrecognized retirement obligations, net of tax expense (benefit)	$ (8)	$ (3)	$ (15)	$ (4)

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Assets
Cash and cash equivalents	$ 33,932	$ 50,265
Accounts receivable, net	177,983	170,974
Inventories	305,115	298,248
Prepaid expenses and other current assets	69,213	86,480
Total current assets	586,243	605,967
Plant, equipment and timberlands, net	638,538	662,916
Goodwill	105,448	107,691
Intangible assets, net	96,293	106,333
Other assets	78,501	80,889
Total assets	1,505,023	1,563,796
Liabilities and Shareholders' Equity
Current portion of long-term debt	0	1,005
Short-term debt	8,454	6,150
Accounts payable	156,457	158,455
Environmental liabilities	300	2,000
Other current liabilities	100,116	112,758
Total current liabilities	265,327	280,368
Long-term debt	861,882	853,163
Deferred income taxes	50,567	52,219
Other long-term liabilities	121,727	121,192
Total liabilities	1,299,503	1,306,942
Commitments and contingencies (Note 18)	0	0
Shareholders’ equity
Common stock	544	544
Capital in excess of par value	55,396	58,759
Retained earnings	377,184	419,810
Accumulated other comprehensive loss	(92,528)	(82,509)
Shareholders' equity before treasury stock	340,596	396,604
Less cost of common stock in treasury	(135,076)	(139,750)
Total shareholders’ equity	205,520	256,854
Total liabilities and shareholders’ equity	$ 1,505,023	$ 1,563,796

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Operating activities
Net loss	$ (42,626)	$ (50,524)
Loss from discontinued operations, net of taxes	681	711
Adjustments to reconcile to net cash used by continuing operations:
Depreciation, depletion and amortization	31,296	31,701
Amortization of debt issue costs and original issue discount	2,059	3,281
Pension settlement charge	0	633
Deferred income tax (benefit) expense	(394)	959
Losses (gains) on dispositions of plant, equipment and timberlands, net	71	(665)
Share-based compensation	1,469	1,307
Change in operating assets and liabilities:
Accounts receivable	(7,379)	4,180
Inventories	(12,305)	(1,656)
Prepaid and other current assets	14,847	7,418
Accounts payable	1,685	(58,129)
Accruals and other current liabilities	(11,535)	3,633
Other	1,579	4,130
Net cash used by operating activities from continuing operations	(20,552)	(53,021)
Investing activities
Expenditures for purchases of plant, equipment and timberlands	(13,172)	(17,458)
Proceeds from disposals of plant, equipment and timberlands, net	17	735
Net cash used by investing activities from continuing operations	(13,155)	(16,723)
Financing activities
Proceeds from term loan	0	262,273
Repayment of term loans	(988)	(226,451)
Net borrowings (repayments) under revolving credit facility	18,149	(14,988)
Payments of borrowing costs	(60)	(10,071)
Payments related to share-based compensation awards and other	(158)	(248)
Net cash provided by financing activities from continuing operations	16,943	10,515
Effect of exchange rate changes on cash	(1,304)	1,096
Net decrease in cash, cash equivalents and restricted cash	(18,068)	(58,133)
Decrease in cash, cash equivalents and restricted cash from discontinued operations	(231)	(428)
Cash, cash equivalents and restricted cash at the beginning of period	55,360	119,162
Cash, cash equivalents and restricted cash at the end of period	37,061	60,601
Less: restricted cash in Prepaid expenses and other current assets	(3,129)	(3,600)
Less: restricted cash in Other assets	0	(3,137)
Cash and cash equivalents at the end of period	33,932	53,864
Cash paid for:
Interest	33,108	27,001
Income taxes, net	$ 5,055	$ 4,109

STATEMENTS OF SHAREHOLDERS_ EQU

STATEMENTS OF SHAREHOLDERS’ EQUITY - USD ($) $ in Thousands	Total	Common stock	Capital in Excess of Par Value	Retained Earnings	Accumulated Other Comprehensive Loss	Treasury Stock
Beginning balance at Dec. 31, 2022	$ 318,004	$ 544	$ 60,663	$ 498,863	$ (97,895)	$ (144,171)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(50,524)			(50,524)
Other comprehensive (loss) income	10,299				10,299
Comprehensive loss	(40,225)
Share-based compensation expense	1,307		1,307
Delivery of treasury shares:
RSUs and PSAs	(248)		(4,025)			3,777
Ending balance at Jun. 30, 2023	278,838	544	57,945	448,339	(87,596)	(140,394)
Beginning balance at Mar. 31, 2023	312,587	544	59,256	485,279	(90,423)	(142,069)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(36,940)			(36,940)
Other comprehensive (loss) income	2,827				2,827
Comprehensive loss	(34,113)
Share-based compensation expense	376		376
Delivery of treasury shares:
RSUs and PSAs	(12)		(1,687)			1,675
Ending balance at Jun. 30, 2023	278,838	544	57,945	448,339	(87,596)	(140,394)
Beginning balance at Dec. 31, 2023	256,854	544	58,759	419,810	(82,509)	(139,750)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(42,626)			(42,626)
Other comprehensive (loss) income	(10,019)				(10,019)
Comprehensive loss	(52,645)
Share-based compensation expense	1,469		1,469
Delivery of treasury shares:
RSUs and PSAs	(158)		(4,832)			4,674
Ending balance at Jun. 30, 2024	205,520	544	55,396	377,184	(92,528)	(135,076)
Beginning balance at Mar. 31, 2024	223,322	544	56,781	393,463	(90,211)	(137,255)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(16,279)			(16,279)
Other comprehensive (loss) income	(2,317)				(2,317)
Comprehensive loss	(18,596)
Share-based compensation expense	798		798
Delivery of treasury shares:
RSUs and PSAs	(4)		(2,183)			2,179
Ending balance at Jun. 30, 2024	$ 205,520	$ 544	$ 55,396	$ 377,184	$ (92,528)	$ (135,076)

ORGANIZATION

ORGANIZATION	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION	ORGANIZATION Glatfelter Corporation and subsidiaries ("Glatfelter") is a leading global supplier of engineered materials with a strong focus on innovation and sustainability. Glatfelter's high quality, technology-driven, innovative, and customizable nonwovens solutions can be found in products that are Enhancing Everyday Life®. These include personal care and hygiene products, food and beverage filtration, critical cleaning products, medical and personal protection, packaging products, as well as home improvement and industrial applications. Headquartered in Charlotte, NC, our 2023 net sales were $1.4 billion. At June 30, 2024, we employed approximately 2,907 employees worldwide. Glatfelter’s operations utilize a variety of manufacturing technologies including airlaid, wetlaid, and spunlace with fifteen manufacturing sites located in the United States, Canada, Germany, the United Kingdom, France, Spain, and the Philippines. The Company has sales offices in all major geographies serving customers under the Glatfelter and Sontara brands. Additional information about Glatfelter may be found at www.glatfelter.com. The terms “we,” “us,” “our,” “the Company,” or “Glatfelter,” refer to Glatfelter Corporation and subsidiaries unless the context indicates otherwise.

ACCOUNTING POLICIES

ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
ACCOUNTING POLICIES	ACCOUNTING POLICIES Basis of Presentation The unaudited condensed consolidated financial statements (“financial statements”) include the accounts of Glatfelter and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated. We prepared these financial statements in accordance with accounting principles generally accepted in the United States of America (“generally accepted accounting principles” or “GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission pertaining to interim financial statements. In our opinion, the financial statements reflect all normal, recurring adjustments needed to present fairly our results for the interim periods. When preparing these financial statements, we have assumed you have read the audited consolidated financial statements included in our 2023 Annual Report on Form 10-K. Discontinued Operations The results of operations and cash flows of our former Specialty Papers business have been classified as discontinued operations for all periods presented in the condensed consolidated statements of operations. Accounting Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingencies as of the balance sheet date and the reported amounts of revenues and expenses during the reporting period. Management believes the estimates and assumptions used in the preparation of these financial statements are reasonable, based upon currently available facts and known circumstances, but recognizes actual results may differ from those estimates and assumptions. Recently Issued Accounting Pronouncements In November 2023, the FASB issued ASU 2023-07, "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (“ASU 2023-07”). The standard improves reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. ASU 2023-07 is effective for annual reporting periods beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The guidance is to be applied retrospectively to all prior periods presented in the financial statements. We are currently evaluating the potential impact of adopting this new guidance on our consolidated financial statements and related disclosures. In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures” (“ASU 2023-09”). The standard enhances income tax disclosure requirements by requiring specified categories and greater disaggregation within the rate reconciliation table, disclosure of income taxes paid by jurisdiction, and provides clarification on uncertain tax positions and related financial statement impacts. ASU 2023-09 is effective for annual periods beginning after December 15, 2024. We are currently evaluating the potential impact of adopting this new guidance on our consolidated financial statements and related disclosures.

REVENUE

REVENUE	6 Months Ended
	Jun. 30, 2024
Disaggregation of Revenue [Abstract]
REVENUE	REVENUE The following tables set forth disaggregated information pertaining to our net sales: Three months ended Six months ended In thousands 2024 2023 2024 2023 Revenue by product category Airlaid Materials Feminine hygiene $ 44,783 $ 51,882 $ 89,592 $ 110,127 Specialty wipes 38,221 45,535 78,140 90,329 Tabletop 26,131 31,778 50,125 62,193 Food pads 2,856 3,361 6,663 6,901 Home care 6,214 6,781 12,361 14,140 Adult incontinence 5,773 7,063 12,370 14,422 Other 6,606 6,111 12,862 13,840 130,584 152,511 262,113 311,952 Composite Fibers Food & beverage 69,331 70,755 137,693 149,699 Wallcovering 15,023 19,570 28,944 35,727 Technical specialties 15,643 20,542 30,955 41,995 Composite laminates 11,355 8,818 22,674 17,801 Metallized 5,863 6,040 13,099 13,094 117,215 125,725 233,365 258,316 Spunlace Consumer wipes 32,441 34,759 65,147 72,868 Critical cleaning 29,550 17,584 57,882 46,733 Health care 10,214 16,808 18,981 27,183 Hygiene 7,255 5,034 14,220 10,694 High performance 2,386 4,608 5,091 7,817 Beauty care 351 627 1,006 848 82,197 79,420 162,327 166,143 Inter-segment sales elimination (553) (651) (1,106) (1,198) Total $ 329,443 $ 357,005 $ 656,699 $ 735,213 Three months ended Six months ended In thousands 2024 2023 2024 2023 Revenue by geography Airlaid Materials Americas $ 71,148 $ 85,492 $ 146,208 $ 175,329 Europe, Middle East and Africa 58,757 63,519 112,388 129,510 Asia Pacific 679 3,500 3,517 7,113 130,584 152,511 262,113 311,952 Composite Fibers Europe, Middle East and Africa 66,576 72,680 133,911 146,530 Americas 33,269 32,416 62,224 66,628 Asia Pacific 17,370 20,629 37,230 45,158 117,215 125,725 233,365 258,316 Spunlace Americas 53,199 50,001 104,466 103,153 Europe, Middle East and Africa 21,929 23,289 44,481 48,352 Asia Pacific 7,069 6,130 13,380 14,638 82,197 79,420 162,327 166,143 Inter-segment sales elimination (553) (651) (1,106) (1,198) Total $ 329,443 $ 357,005 $ 656,699 $ 735,213

PROPOSED MERGER

PROPOSED MERGER	6 Months Ended
	Jun. 30, 2024
Reverse Recapitalization [Abstract]
PROPOSED MERGER	PROPOSED MERGER As previously announced on February 7, 2024, we entered into certain definitive agreements with Berry Global Group, Inc. (“Berry”) for Berry to spin-off and merge the majority of its Health, Hygiene and Specialties segment including its Global Nonwovens and Films business (“HHNF”) with Glatfelter (the “Merger”) that will create Magnera, a leading, publicly-traded company in the specialty materials industry. The board of directors of both Berry and Glatfelter have unanimously approved the Merger. The Merger is expected to occur through a series of transactions, including a Reverse Morris Trust transaction such that HHNF will become a wholly owned subsidiary of Glatfelter. Upon completion of the Merger, Berry shareholders will hold 90% of the outstanding shares of Glatfelter and Glatfelter shareholders will continue to hold 10% of the outstanding shares of Glatfelter. The combined company’s Board of Directors will include 6 members chosen by Berry and 3 chosen from Glatfelter’s existing Board of Directors, with Curt Begle, the current president of the Health, Hygiene & Specialties Division of Berry, becoming the Chief Executive Officer. In June, the Company reported the achievement of all required approvals and clearances under competition and foreign direct investment laws. Also, Berry received a favorable private letter ruling from the U.S. Internal Revenue Service regarding the qualification of the spin-off and the merger as tax-free transactions under the Internal Revenue Code. The transaction is subject to additional customary closing conditions, including approval by Glatfelter shareholders. The transaction is expected to close in the second half of 2024. Prior to the completion of the Merger, Glatfelter and HHNF will continue to operate as independent companies.

GAINS ON DISPOSITION OF PLANT,

GAINS ON DISPOSITION OF PLANT, EQUIPMENT AND TIMBERLANDS	6 Months Ended
	Jun. 30, 2024
Property, Plant and Equipment [Abstract]
GAINS ON DISPOSITION OF PLANT, EQUIPMENT AND TIMBERLANDS	GAINS ON DISPOSITION OF PLANT, EQUIPMENT AND TIMBERLANDS Timberland and other asset sales for the six months ended June 30, 2024 were inconsequential. The following table sets forth sales of timberlands and other assets completed during the six months ended June 30, 2023: Dollars in thousands Acres Proceeds Gain 2023 Timberlands 216 $ 630 $ 617 Other n/a 105 48 Total $ 735 $ 665

DISCONTINUED OPERATIONS

DISCONTINUED OPERATIONS	6 Months Ended
	Jun. 30, 2024
Discontinued Operations and Disposal Groups [Abstract]
DISCONTINUED OPERATIONS	DISCONTINUED OPERATIONS For the six months ended June 30, 2024 and 2023, we recognized losses in discontinued operations of $0.7 million primarily related to legal costs incurred in both periods, pension related costs in 2024, and an insurance claim settlement in 2023. In August 2024, we reached a settlement in principle of a legal dispute with a manufacturer for equipment supplied and installed at our former Specialty Papers business. Under the terms of the sale agreement of our Specialty Papers business in 2018, we retained the right to any recoveries from the resolution of this matter. Under the terms of this settlement, we will be paid $6.5 million in monthly installments of approximately $1.1 million beginning in September 2024. We expect to recognize a $6.5 million gain, less applicable legal fees, in the quarter ended September 30, 2024 which will be included in discontinued operations.

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE The following table sets forth the details of basic and diluted earnings per share (“EPS”) from continuing operations: Three months ended June 30, Six months ended June 30, In thousands, except per share 2024 2023 2024 2023 Loss from continuing operations $ (15,795) $ (36,631) $ (41,945) $ (49,813) Weighted average common shares outstanding used in basic EPS 45,338 45,041 45,261 44,999 Common shares issuable upon exercise of dilutive stock options and PSAs / RSUs — — — — Weighted average common shares outstanding and common share equivalents used in diluted EPS 45,338 45,041 45,261 44,999 Loss per share from continuing operations Basic $ (0.35) $ (0.82) $ (0.93) $ (1.11) Diluted (0.35) (0.82) (0.93) (1.11) The following table sets forth potential common shares outstanding that were not included in the computation of diluted EPS for the periods indicated, because their effect would be anti-dilutive: Three months ended June 30, Six months ended June 30, In thousands 2024 2023 2024 2023 Potential common shares 428 618 428 618

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE LOSS	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
ACCUMULATED OTHER COMPREHENSIVE LOSS	ACCUMULATED OTHER COMPREHENSIVE LOSS The following table sets forth details of the changes in accumulated other comprehensive loss for the three and six months ended June 30, 2024 and 2023. In thousands Currency translation adjustments Unrealized gain (loss) on derivatives Change in pensions Change in other postretirement defined benefit plans Total Balance at April 1, 2024 $ (99,897) $ 11,997 $ (2,668) $ 357 $ (90,211) Other comprehensive loss before reclassifications (net of tax) (1,978) (177) — — (2,155) Amounts reclassified from accumulated other comprehensive income (net of tax) — (184) 24 (2) (162) Net current period other comprehensive income (loss) (1,978) (361) 24 (2) (2,317) Balance at June 30, 2024 $ (101,875) $ 11,636 $ (2,644) $ 355 $ (92,528) Balance at April 1, 2023 $ (99,579) $ 11,333 $ (2,587) $ 410 $ (90,423) Other comprehensive income before reclassifications (net of tax) 2,820 57 — — 2,877 Amounts reclassified from accumulated other comprehensive income (net of tax) — (68) 25 (7) (50) Net current period other comprehensive income (loss) 2,820 (11) 25 (7) 2,827 Balance at June 30, 2023 $ (96,759) $ 11,322 $ (2,562) $ 403 $ (87,596) Balance at January 1, 2024 $ (90,733) $ 10,555 $ (2,692) $ 361 $ (82,509) Other comprehensive income (loss) before reclassifications (net of tax) (11,142) 1,718 — — (9,424) Amounts reclassified from accumulated other comprehensive income (net of tax) — (637) 48 (6) (595) Net current period other comprehensive income (loss) (11,142) 1,081 48 (6) (10,019) Balance at June 30, 2024 $ (101,875) $ 11,636 $ (2,644) $ 355 $ (92,528) Balance at January 1, 2023 $ (106,242) $ 11,176 $ (3,247) $ 418 $ (97,895) Other comprehensive income before reclassifications (net of tax) 9,483 1,613 — — 11,096 Amounts reclassified from accumulated other comprehensive income (net of tax) — (1,467) 685 (15) (797) Net current period other comprehensive income (loss) 9,483 146 685 (15) 10,299 Balance at June 30, 2023 $ (96,759) $ 11,322 $ (2,562) $ 403 $ (87,596) Reclassifications out of accumulated other comprehensive loss and into the condensed consolidated statements of operations were as follows: Three months ended Six months ended In thousands 2024 2023 2024 2023 Description Line Item in Statements of Operations Cash flow hedges (Note 17) Gains on cash flow hedges $ (291) $ (400) $ (126) $ (1,318) Costs of products sold Tax provision (benefit) 107 332 (511) (149) Income tax provision (benefit) Net of tax (184) (68) (637) (1,467) Total cash flow hedges (184) (68) (637) (1,467) Retirement plan obligations (Note 10) Amortization of deferred benefit pension plans Prior service costs 4 6 8 12 Other, net Actuarial losses 21 21 48 43 Other, net Pension settlement — — — 633 Other, net 25 27 56 688 Tax benefit (1) (2) (8) (3) Income tax provision (benefit) Net of tax 24 25 48 685 Amortization of deferred benefit other plans Prior service costs 13 5 25 10 Other, net Actuarial gain (15) (12) (31) (25) Other, net (2) (7) (6) (15) Tax expense — — — — Income tax provision (benefit) Net of tax (2) (7) (6) (15) Total reclassifications, net of tax $ (162) $ (50) $ (595) $ (797)

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
SHARE-BASED COMPENSATION	SHARE-BASED COMPENSATION On May 5, 2023 (the “Effective Date”), the Board and shareholders approved an amendment and restatement of the Glatfelter Corporation 2022 Long-Term Incentive Plan (the “Equity Plan”) to increase the number of shares available for grant under the Equity Plan (as amended and restated, the “Amended Plan”) (collectively, the “LTIP”). The LTIP is a long-term incentive plan, pursuant to which awards may be granted to full-time or part-time employees, officers, non-employee directors, and consultants of the Company or any subsidiary or affiliate of the Company, including stock options, stock-only stock appreciation rights (“SOSARs”), restricted stock awards, restricted stock units (“RSUs”), performance share awards (“PSAs”), and other share-based awards. The Amended Plan was adopted primarily to increase the number of shares of Company common stock reserved for equity-based awards by 675,000 shares (in addition to any shares that remained available for awards under the Equity Plan as of the Effective Date and any shares subject to outstanding awards granted under the Equity Plan as of the Effective Date). As of June 30, 2024, there were 340,053 shares of common stock available for future issuance under the LTIP. Pursuant to terms of the LTIP, we have issued to eligible participants RSUs, PSAs and SOSARs. Restricted Stock Units and Performance Share Awards In the first six months of 2024, we granted RSUs to employees under our LTIP. The RSUs awarded in 2024 vest over three years, with 33% vesting on December 31, 2024, 33% on February 28, 2026, and 34% vesting on February 28, 2027. PSAs were not awarded in 2024. Instead, there was a cash restoration award (paid in cash instead of stock) that vests the same as the RSUs. This cash restoration award is outside of the LTIP. In 2023, we granted RSUs and PSAs to employees under our LTIP. In 2023, 50% of fair value of the awards granted were RSUs, which vest based on the passage of time, generally over a graded three-year period or, in certain instances, the RSUs were cliff vesting after one For RSUs, the grant date fair value of the awards, or the closing price per common share on the date of the award, is used to determine the amount of expense to be recognized over the applicable service period. For PSAs, the grant date fair value is estimated using a lattice model. The significant inputs include the stock price, volatility, dividend yield, and risk-free rate of return. Settlement of RSUs and PSAs will be made in shares of our common stock currently held in treasury. The following table summarizes RSU and PSA activity during periods indicated: Units 2024 2023 Balance at January 1, 2,273,939 1,650,152 Granted 2,403,905 1,354,102 Forfeited (254,730) (445,742) Shares delivered (386,508) (313,569) Balance at June 30, 4,036,606 2,244,943 The amount granted in 2023 included 698,741 of PSAs exclusive of reinvested dividends. The following table sets forth aggregate RSU and PSA compensation expense included in continuing operations for the periods indicated: June 30, In thousands 2024 2023 Three months ended $ 798 $ 376 Six months ended $ 1,469 $ 1,307 Stock-Only Stock Appreciation Rights Under terms of the SOSAR, a recipient receives the right to a payment in the form of shares of common stock equal to the difference, if any, in the fair market value of one share of common stock at the time of exercising the SOSAR and the exercise price. All SOSARs are vested, exercisable and have a term of ten years. No SOSARs have been awarded since 2016. The following table sets forth information related to outstanding SOSARs: 2024 2023 Shares Wtd Avg Exercise Price Shares Wtd Avg Exercise Price Outstanding at January 1, 531,519 $ 22.10 769,544 $ 21.34 Granted — — — — Exercised — — — — Canceled / forfeited (103,742) 29.89 (151,487) 18.36 Outstanding at June 30, 427,777 $ 20.21 618,057 $ 22.07

RETIREMENT PLANS AND OTHER POST

RETIREMENT PLANS AND OTHER POST-RETIREMENT BENEFITS	6 Months Ended
	Jun. 30, 2024
Retirement Benefits [Abstract]
RETIREMENT PLANS AND OTHER POST-RETIREMENT BENEFITS	RETIREMENT PLANS AND OTHER POST-RETIREMENT BENEFITS The following tables provide information with respect to the net periodic costs of our pension and post-retirement medical benefit plans included in continuing operations. Three months ended Six months ended In thousands 2024 2023 2024 2023 Pension Benefits Service cost $ — $ — $ — $ — Interest cost 346 362 701 773 Amortization of prior service cost 4 6 8 12 Amortization of actuarial loss 21 21 48 43 Pension settlement charge — — — 633 Total net periodic benefit expense $ 371 $ 389 $ 757 $ 1,461 Other Benefits Service cost $ 5 $ 2 $ 10 $ 5 Interest cost 41 45 82 89 Amortization of prior service cost 13 5 25 10 Amortization of actuarial gain (15) (12) (31) (25) Total net periodic benefit expense $ 44 $ 40 $ 86 $ 79

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Income taxes are recognized for the amount of taxes payable or refundable for the current year, and deferred tax liabilities and assets for the future tax consequences of events that have been recognized in our condensed consolidated financial statements or tax returns. The effects of income taxes are measured based on enacted tax laws and rates. For the six months ended June 30, 2024, we had a pretax loss from continuing operations of $33.8 million and income tax expense of $8.1 million. The effective income tax rate for the six months ended June 30, 2024 was unfavorably impacted by the jurisdictional mix of pretax results among the Company and its subsidiaries and losses which generated no tax benefit in domestic and certain foreign jurisdictions. For the six months ended June 30, 2024, we recorded an increase in the valuation allowance of $10.3 million for U.S. federal and certain foreign jurisdictions against our net deferred tax assets. In assessing the need for a valuation allowance, management considers all available positive and negative evidence in its analysis. Based on this analysis, we recorded a valuation allowance for the portion of deferred tax assets where the weight of the evidence indicated it is more likely than not that the deferred assets will not be realized. As of June 30, 2024 and December 31, 2023, we had $62.7 million and $60.7 million, respectively, of gross unrecognized tax benefits. As of June 30, 2024, if such benefits were to be recognized, approximately $60.1 million would be recorded as a component of income tax expense, thereby affecting our effective tax rate. The amount of income taxes we pay is subject to ongoing audits by federal, state and foreign tax authorities, which often result in proposed assessments. Management performs a comprehensive review of its global tax positions on a quarterly basis and accrues amounts for uncertain tax positions. Based on these reviews and the result of discussions and resolutions of matters with tax authorities and the closure of tax years subject to tax audit, reserves are adjusted as necessary. However, future results may include favorable or unfavorable adjustments to our estimated tax liabilities in the period the assessments are determined or resolved or as statutes are closed. Due to potential resolution of federal, state and foreign examinations, and the lapse of various statutes of limitation, it is reasonably possible our gross unrecognized tax benefits may decrease within the next twelve months by a range of zero to $8.3 million. We recognize interest and penalties related to uncertain tax positions as income tax expense. The following table summarizes information included in continuing operations related to interest on uncertain tax positions: Six months ended June 30, In millions 2024 2023 Interest expense $ 1.4 $ 1.0 June 30, December 31, Accrued interest payable $ 7.7 $ 6.3 Accrued penalties 2.8 2.8 In 2021, the Organization for Economic Cooperation and Development (OECD) published Pillar Two Model Rules defining a global minimum tax, which calls for the taxation of large corporations at a minimum rate of 15%. The OECD has since issued administrative guidance providing transition and safe harbor rules around the implementation of the Pillar Two global minimum tax. Effective January 1, 2024, a number of countries have proposed or enacted legislation to implement core elements of the Pillar Two proposal. Pillar Two did not have a significant impact on Glatfelter's financial results for the six months ended June 30, 2024. While Glatfelter is monitoring developments and evaluating the potential impact on future periods, Glatfelter does not expect Pillar Two to have a significant impact on its 2024 financial results.

INVENTORIES

INVENTORIES	6 Months Ended
	Jun. 30, 2024
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES Inventories, net of reserves, were as follows: In thousands June 30, December 31, Raw materials $ 91,095 $ 82,012 In-process and finished 146,997 150,220 Supplies 67,023 66,016 Total $ 305,115 $ 298,248

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER INTANGIBLE ASSETS	GOODWILL AND OTHER INTANGIBLE ASSETS The following table sets forth changes in the amounts of goodwill and other intangible assets recorded by each of our segments during the periods indicated: In thousands December 31, Purchase price allocation adjustment Translation June 30, Goodwill Airlaid Materials $ 107,691 $ — $ (2,243) $ 105,448 Total $ 107,691 $ — $ (2,243) $ 105,448 Other Intangible Assets December 31, Amortization Translation June 30, Airlaid Materials Tradename $ 3,566 $ — $ (111) $ 3,455 Accumulated amortization (944) (87) 31 (1,000) Net 2,622 (87) (80) 2,455 Technology and related 18,121 — (547) 17,574 Accumulated amortization (6,819) (580) 206 (7,193) Net 11,302 (580) (341) 10,381 Customer relationships and related 43,986 — (749) 43,237 Accumulated amortization (17,685) (1,853) 411 (19,127) Net 26,301 (1,853) (338) 24,110 Spunlace Products and Tradenames 30,064 — (2,071) 27,993 Accumulated amortization (3,452) (750) 248 (3,954) Net 26,612 (750) (1,823) 24,039 Technology and related 15,833 — (1,091) 14,742 Accumulated amortization (3,146) (887) 427 (3,606) Net 12,687 (887) (664) 11,136 Customer relationships and related 30,478 — (2,099) 28,379 Accumulated amortization (3,669) (798) 260 (4,207) Net 26,809 (798) (1,839) 24,172 Total intangibles 142,048 — (6,668) 135,380 Total accumulated amortization (35,715) (4,955) 1,583 (39,087) Net intangibles $ 106,333 $ (4,955) $ (5,085) $ 96,293

LEASES

LEASES	6 Months Ended
	Jun. 30, 2024
Leases [Abstract]
LEASES	LEASES We enter into a variety of arrangements in which we are the lessee for the use of automobiles, forklifts and other production equipment, production facilities, warehouses, office space and land. We determine if an arrangement contains a lease at inception. All our lease arrangements are operating leases and are recorded in the condensed consolidated balance sheet under the caption “Other assets” and the lease obligation is under “Other current liabilities” and “Other long-term liabilities.” We do not have any finance leases. Operating lease right of use (“ROU”) assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. ROU assets also include any initial direct costs incurred and any lease payments made at or before the lease commencement date, less lease incentives received. We use our incremental borrowing rate based on information available at the commencement date in determining the lease liabilities as our leases generally do not provide an implicit rate. For purposes of recording the lease arrangement, the term of lease may include options to extend or terminate when we are reasonably certain that the option will be exercised. Lease expense is recognized on a straight-line basis over the lease term. The following table sets forth information related to our leases as of the periods indicated. Dollars in thousands June 30, December 31, R ight of use asset $ 24,649 $ 24,991 Weighted average discount rate 3.92 % 3.63 % Weighted average remaining maturity (years) 20 20 The following table sets forth operating lease expense for the periods indicated: June 30, In thousands 2024 2023 Three months ended $ 1,766 $ 1,568 Six months ended $ 3,365 $ 3,393 The following table sets forth required remaining future minimum lease payments during the years indicated: In thousands 2024 $ 3,109 2025 5,582 2026 3,270 2027 2,604 2028 1,954 Thereafter 18,850

LONG-TERM DEBT

LONG-TERM DEBT	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
LONG-TERM DEBT	LONG-TERM DEBT Long-term debt is summarized as follows: In thousands June 30, December 31, Revolving credit facility, due Sep 2026 $ 114,345 $ 99,450 4.750% Senior Notes, due Oct 2029 500,000 500,000 11.25% Term loan, due Mar 2029 263,085 271,215 1.10% Term Loan, due Mar 2024 — 1,005 Total long-term debt 877,430 871,670 Less current portion — (1,005) Unamortized deferred issuance costs (15,548) (17,502) Long-term debt, net of current portion $ 861,882 $ 853,163 On September 2, 2021, we entered into a restatement agreement as part of a Fourth Amended and Restated $400.0 million Revolving Credit Facility and a €220.0 million Term Loan (collectively, the “Credit Agreement”). On May 9, 2022, we entered into an amendment to the Credit Agreement, which was further amended on March 30, 2023. The March 30, 2023 amendment to the Credit Agreement reduced the Revolving Credit Facility to $250.0 million and had us fully extinguish the €220.0 million Term Loan. All remaining principal outstanding and accrued interest under the Revolving Credit Facility will be due and payable on September 2, 2026. The Credit Agreement contains a number of customary covenants for financings of this type that, among other things, restrict our ability to dispose of or create liens on assets, incur additional indebtedness, limits certain intercompany financing arrangements, make acquisitions and engage in mergers or consolidations. The Credit Agreement also contains covenants requiring a minimum debt coverage ratio. As of June 30, 2024, the leverage ratio, as calculated in accordance with the definition in our Credit Agreement, was 3.5x. A breach of these requirements would give rise to certain remedies under the Revolving Credit Facility, among which is the termination of the agreement. On March 30, 2023, we entered into a €250.0 million Term Loan with certain affiliates of Angelo, Gordon & Co., L.P. (“AG Loan”). The net proceeds from the AG Loan were used to extinguish the €220.0 million Term Loan, to repay a portion of outstanding revolving borrowings under the Revolving Credit Facility, for working capital and general corporate purposes and to pay estimated fees and expenses. The AG Loan will mature on March 23, 2029 and is prepayable, in whole or in part, at any time at the prepayable premium specified in the Term Loan Agreement. Prior to September 30, 2024, we may prepay some or all of the AG Loan at a "make-whole" premium as specified. On October 25, 2021, we issued $500.0 million aggregate principal amount of 4.750% senior notes due 2029 (the “Notes”). The net proceeds from the offering of the Notes, together with cash on hand, were used to pay the purchase price of the Jacob Holm acquisition, to repay certain indebtedness of Jacob Holm, to repay outstanding revolving borrowings under the Revolving Credit Facility, and to pay estimated fees and expenses. The Notes will mature on November 15, 2029. The Notes are redeemable, in whole or in part, at any time at the redemption prices specified in the Indenture. Prior to November 15, 2024, we may redeem some or all of the Notes at a "make-whole" premium as specified in the Indenture. Glatfelter Gernsbach GmbH (“Gernsbach”), a wholly-owned subsidiary of ours, entered into a series of borrowing agreements with IKB Deutsche Industriebank AG, Düsseldorf (“IKB”). Each of the borrowings require quarterly repayments of principal and interest and provide for representations, warranties and covenants customary for financings of these types. The financial covenants of these borrowings are calculated by reference to the Credit Agreement. These borrowings were fully extinguished on March 14, 2023. In 2021, Gernsbach also entered into two fixed-rate non-amortizing term loans with certain financial institutions. On February 28, 2023, one of these term loans for €20.0 million was fully extinguished. The remaining term loan matured in March 2024. Aggregated unamortized deferred debt issuance costs incurred in connection with all of our outstanding debt totaled $15.5 million at June 30, 2024. The deferred costs are being amortized on a straight-line basis over the life of the underlying instruments. Amortization expense related to deferred debt issuance costs totaled $1.7 million and $3.1 million in 2024 and 2023, respectively. The following schedule sets forth the amortization of our term loan agreements together with the maturity of our other long-term debt during the indicated year. In thousands 2024 $ — 2025 — 2026 114,345 2027 — 2028 — Thereafter 763,085 Glatfelter Corporation guarantees all debt obligations of its subsidiaries. All such obligations are recorded in these consolidated financial statements. As of June 30, 2024 and December 31, 2023, we had $3.7 million and $5.7 million, respectively, of letters of credit issued to us by certain financial institutions. The letters of credit, which reduce amounts available under our Revolving Credit Facility, provide financial assurances for the performance of long-term monitoring activities associated with the Fox River environmental matter and for the benefit of certain state workers compensation insurance agencies in conjunction with our self-insurance program. We bear the credit risk on this amount to the extent that we do not comply with the provisions of certain agreements. No amounts are outstanding under the letters of credit.

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
FAIR VALUE OF FINANCIAL INSTRUMENTS	FAIR VALUE OF FINANCIAL INSTRUMENTS The amounts reported on the condensed consolidated balance sheets for cash and cash equivalents, accounts receivable, accounts payable and short-term debt approximate their respective fair value. The following table sets forth carrying value and fair value of long-term debt: June 30, 2024 December 31, 2023 In thousands Carrying Value Fair Value Carrying Value Fair Value Revolving credit facility, due Sep 2026 $ 114,345 $ 114,345 $ 99,450 $ 99,450 4.750% Senior Notes, due Oct 2029 500,000 415,000 500,000 346,250 11.25% Term loan, due Mar 2029 263,085 268,556 271,215 282,586 1.10% Term Loan, due Mar 2024 — — 1,005 993 Total $ 877,430 $ 797,901 $ 871,670 $ 729,279 The values set forth above are based on observable inputs and other relevant market data (Level 2). The fair value of financial derivatives is set forth below in Note 18.

FINANCIAL DERIVATIVES AND HEDGI

FINANCIAL DERIVATIVES AND HEDGING ACTIVITIES	6 Months Ended
	Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
FINANCIAL DERIVATIVES AND HEDGING ACTIVITIES	FINANCIAL DERIVATIVES AND HEDGING ACTIVITIES As part of our overall risk management practices, we enter into financial derivatives primarily designed to either i) hedge foreign currency risks associated with forecasted transactions (“cash flow hedges”); ii) mitigate the impact that changes in currency exchange rates have on intercompany financing transactions and foreign currency denominated receivables and payables (“foreign currency hedges”); or iii) convert variable-interest-rate debt to fixed rates. Derivatives Designated as Hedging Instruments - Cash Flow Hedges We use currency forward contracts as cash flow hedges to manage our exposure to fluctuations in the currency exchange rates on certain forecasted production costs. Currency forward contracts involve fixing the exchange for delivery of a specified amount of foreign currency on a specified date. As of June 30, 2024, the maturity of currency forward contracts ranged from one month to 15 months. We designate certain currency forward contracts as cash flow hedges of forecasted raw material purchases, certain production costs or capital expenditures with exposure to changes in foreign currency exchange rates. Changes in the fair value of derivatives designated and that qualify as cash flow hedges of foreign exchange risk is deferred as a component of accumulated other comprehensive income in the accompanying condensed consolidated balance sheets. With respect to hedges of forecasted raw material purchases or production costs, the amount deferred is subsequently reclassified into costs of products sold in the period that inventory produced using the hedged transaction affects earnings. For hedged capital expenditures, deferred gains or losses are reclassified and included in the historical cost of the capital asset and subsequently affect earnings as depreciation is recognized. We had the following outstanding derivatives that were used to hedge foreign exchange risks associated with forecasted transactions and designated as hedging instruments: In thousands June 30, December 31, Derivative Sell/Buy - sell notional Euro / British Pound 15,451 15,210 Philippine Peso / Euro — 137,449 U.S. Dollar / British Pound 11,907 18,470 U.S. Dollar / Euro 67 277 Sell/Buy - buy notional Euro / Philippine Peso 670,761 788,342 British Pound / Philippine Peso 949,006 923,653 Euro / U.S. Dollar 79,656 93,397 U.S. Dollar / Canadian Dollar 32,998 30,914 British Pound / U.S. Dollar — 2,211 Derivatives Designated as Hedging Instruments – Net Investment Hedge The €220 million Term Loan discussed in Note 15 – “ Long-Term Debt” was designated as a net investment hedge of our Euro functional currency foreign subsidiaries and was extinguished on March 30, 2023 in conjunction with the amendment of the Credit Facility. During the first six months of 2023, we recognized a pre-tax loss of $3.7 million on the remeasurement of the term loan from changes in currency exchange rates. Such amounts are recorded as a component of Other Comprehensive Income (Loss). Derivatives Not Designated as Hedging Instruments - Foreign Currency Hedges We also entered into forward foreign exchange contracts to mitigate the impact changes in currency exchange rates have on balance sheet monetary assets and liabilities. None of these contracts are designated as hedges for financial accounting purposes and, accordingly, changes in value of the foreign exchange forward contracts and in the offsetting underlying on-balance-sheet transactions are reflected in the accompanying condensed consolidated statements of operations under the caption “Other, net.” The following sets forth derivatives used to mitigate the impact changes in currency exchange rates have on balance sheet monetary assets and liabilities: In thousands June 30, December 31, Derivative Sell/Buy - sell notional U.S. Dollar / British Pound 19,500 22,800 British Pound / Euro 4,300 3,500 Japanese Yen / Euro 38,000 — U.S. Dollar / Swiss Franc 10,000 13,620 British Pound / Swiss Franc 700 2,240 Euro / Swiss Franc 6,000 4,940 Euro / U.S. Dollar 11,100 11,000 U.S Dollar / Philippine Peso 7,300 6,700 Sell/Buy - buy notional Euro / U.S. Dollar 16,800 10,200 British Pound / Euro 10,000 6,470 Swiss Franc / Danish Krone 750 — U.S. Dollar / Canadian Dollar 3,100 1,120 These contracts have maturities of one month from the date originally entered into. Fair Value Measurements The following table summarizes the fair values of derivative instruments for the period indicated and the line items in the accompanying condensed consolidated balance sheets where the instruments are recorded: In thousands June 30, December 31, 2023 June 30, December 31, 2023 Balance sheet caption Prepaid Expenses and Other Other Designated as hedging: Forward foreign currency exchange contracts $ 1,093 $ 851 $ 495 $ 1,653 Not designated as hedging: Forward foreign currency exchange contracts $ 576 937 $ 258 $ 155 The amounts set forth in the table above represent the net asset or liability giving effect to rights of offset with each counterparty. The effect of netting the amounts presented above did not have a material effect on our consolidated financial position. The fair value hierarchy consists of three broad levels, which gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The fair values of the foreign exchange forward contracts are considered to be Level 2. Foreign currency forward contracts are valued using foreign currency forward and interest rate curves. The fair value of each contract is determined by comparing the contract rate to the forward rate and discounting to present value. Contracts in a gain position are recorded in the condensed consolidated balance sheets under the caption “Prepaid expenses and other current assets” and the value of contracts in a loss position is recorded under the caption “Other current liabilities.” The following table summarizes the amount of income or (loss) from derivative instruments recognized in our results of operations for the periods indicated and the line items in the accompanying condensed consolidated statements of operations where the results are recorded: Three months ended Six months ended In thousands 2024 2023 2024 2023 Designated as hedging: Forward foreign currency exchange contracts: Cost of products sold $ (291) $ (400) $ (126) $ (1,318) Not designated as hedging: Forward foreign currency exchange contracts: Other – net $ 521 $ 16 $ 2,556 $ (218) The impact of activity not designated as hedging was substantially all offset by the remeasurement of the underlying on-balance-sheet item. A rollforward of fair value amounts recorded as a component of accumulated other comprehensive loss, before taxes, is as follows: In thousands 2024 2023 Balance at January 1, $ (808) $ 242 Deferred gains on cash flow hedges 668 1,315 Reclassified to earnings (126) (1,318) Balance at June 30, $ (266) $ 239 We expect substantially all of the amounts recorded as a component of accumulated other comprehensive loss will be recorded in results of operations within the next 12 to 18 months and the amount ultimately recognized will vary depending on actual market rates. Credit risk related to derivative activity arises in the event the counterparty fails to meet its obligations to us. This exposure is generally limited to the amounts, if any, by which the counterparty’s obligations exceed our obligation to them. Our policy is to enter into contracts only with financial institutions which meet certain minimum credit ratings.

COMMITMENTS, CONTINGENCIES AND

COMMITMENTS, CONTINGENCIES AND LEGAL PROCEEDINGS	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS, CONTINGENCIES AND LEGAL PROCEEDINGS	COMMITMENTS, CONTINGENCIES AND LEGAL PROCEEDINGS Fox River - Neenah, Wisconsin Background We have previously reported that we face liabilities associated with environmental claims arising out of the presence of polychlorina ted biphenyls (“PCBs”) in sediments in the lower Fox River, on which our former Neenah facility was located, and in the Bay of Green Bay, Wisconsin (collectively, the “Site”). Over the past several years, we and certain other PRPs completed all remedial actions pursuant to applicable consent decrees or a Unilateral Administrative Order . Under the Glatfelter consent decrees, we are primarily responsible for long-term monitoring and maintenance in OU1-OU4a and for reimbursement of government oversight costs paid after October 2018. The monitoring activities consist of, among others, testing fish tissue, sampling water quality and sediment, and inspections of the engineered caps. In 2018, we entered into a fixed-price, 30-year agreement with a third party for the performance of all of our monitoring and maintenance obligations in OU1 through OU4a with limited exceptions, such as, for extraordinary amounts of cap maintenance or replacement. Our obligation under this agreement is included in our total reserve for the Site. We are obligated to make the regular payments under that fixed-price contract until the remaining amount due is less than the OU1 escrow account balance. We are permitted to pay for this contract using the remaining balance of the escrow account established by us and WTM I Company (“WTM I”) another PRP, under the OU1 consent decree during any period that the balance in the escrow account exceeds the amount due under our fixed-price contract. As of June 30, 2024, the balance in the escrow exceeds the amounts due under the fixed-price contract by approximately $0.5 million. At June 30, 2024, the escrow account balance totaled $9.1 million which is included in the condensed consolidated balance sheet under the caption “Other assets.” Under the consent decree, we are responsible for reimbursement of government oversight costs paid from October 2018 and later over approximately the next 30 years. We anticipate that oversight costs will decline as activities at the site have transitioned from remediation to long-term monitoring and maintenance. Reserves for the Site Our reserve for past and future government oversight costs and long-term monitoring and maintenance totaled $12.1 million at June 30, 2024, of which $0.3 million is recorded in the accompanying June 30, 2024 condensed consolidated balance sheet under the caption “Environmental liabilities” and the remaining $11.8 million is recorded under the caption “Other long-term liabilities.” Range of Reasonably Possible Outcomes

SEGMENT INFORMATION

SEGMENT INFORMATION	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION The following tables set forth financial and other information by segment for the period indicated: Three months ended Six months ended Dollars in thousands 2024 2023 2024 2023 Net Sales Airlaid Material $ 130,584 $ 152,511 $ 262,113 $ 311,952 Composite Fibers 117,215 125,725 233,365 258,316 Spunlace 82,197 79,420 162,327 166,143 Inter-segment sales elimination (553) (651) (1,106) (1,198) Total $ 329,443 $ 357,005 $ 656,699 $ 735,213 Operating income (loss) Airlaid Material $ 7,505 $ 9,726 $ 12,463 $ 23,640 Composite Fibers 6,031 898 14,290 7,025 Spunlace 2,260 (1,314) 5,024 (3,337) Other and unallocated (8,502) (19,795) (26,028) (31,700) Total $ 7,294 $ (10,485) $ 5,749 $ (4,372) Depreciation and amortization Airlaid Material $ 7,602 $ 7,637 $ 15,266 $ 15,323 Composite Fibers 3,664 3,897 7,428 7,862 Spunlace 3,327 3,476 6,700 6,568 Other and unallocated 949 960 1,902 1,948 Total $ 15,542 $ 15,970 $ 31,296 $ 31,701 Capital expenditures Airlaid Material $ 1,571 $ 2,332 $ 3,662 $ 4,414 Composite Fibers 2,409 2,110 6,073 5,773 Spunlace 1,388 2,509 2,766 5,210 Other and unallocated 322 1,007 671 2,061 Total $ 5,690 $ 7,958 $ 13,172 $ 17,458 Tons shipped (metric) Airlaid Material 37,795 39,246 76,136 79,073 Composite Fibers 25,735 24,966 50,737 49,784 Spunlace 15,937 15,191 32,028 31,611 Inter-segment sales elimination (329) — (666) — Total 79,138 79,403 158,235 160,468 Segments Results of individual operating segments are presented based on our management accounting practices and management structure. There is no comprehensive, authoritative body of guidance for management accounting equivalent to accounting principles generally accepted in the United States of America; therefore, the financial results of individual segments are not necessarily comparable with similar information for any other company. The management accounting process uses assumptions and allocations to measure performance of the segments. Methodologies are refined from time to time as management accounting practices are enhanced and businesses change. The costs incurred by support areas not directly aligned with the segment are allocated primarily based on an estimated utilization of support area services or are included in “Other and Unallocated” in the table set forth above.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net loss	$ (16,279)	$ (36,940)	$ (42,626)	$ (50,524)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

ACCOUNTING POLICIES (Policies)

ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Consolidation	The unaudited condensed consolidated financial statements (“financial statements”) include the accounts of Glatfelter and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated.
Basis of Presentation	We prepared these financial statements in accordance with accounting principles generally accepted in the United States of America (“generally accepted accounting principles” or “GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission pertaining to interim financial statements. In our opinion, the financial statements reflect all normal, recurring adjustments needed to present fairly our results for the interim periods. When preparing these financial statements, we have assumed you have read the audited consolidated financial statements included in our 2023 Annual Report on Form 10-K.
Discontinued Operations	Discontinued Operations
Accounting Estimates	Accounting Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingencies as of the balance sheet date and the reported amounts of revenues and expenses during the reporting period. Management believes the estimates and assumptions used in the preparation of these financial statements are reasonable, based upon currently available facts and known circumstances, but recognizes actual results may differ from those estimates and assumptions.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In November 2023, the FASB issued ASU 2023-07, "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (“ASU 2023-07”). The standard improves reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. ASU 2023-07 is effective for annual reporting periods beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The guidance is to be applied retrospectively to all prior periods presented in the financial statements. We are currently evaluating the potential impact of adopting this new guidance on our consolidated financial statements and related disclosures. In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures” (“ASU 2023-09”). The standard enhances income tax disclosure requirements by requiring specified categories and greater disaggregation within the rate reconciliation table, disclosure of income taxes paid by jurisdiction, and provides clarification on uncertain tax positions and related financial statement impacts. ASU 2023-09 is effective for annual periods beginning after December 15, 2024. We are currently evaluating the potential impact of adopting this new guidance on our consolidated financial statements and related disclosures.

REVENUE (Tables)

REVENUE (Tables)	6 Months Ended
	Jun. 30, 2024
Disaggregation of Revenue [Abstract]
Schedule of Disaggregated Information Pertaining to Net Sales	The following tables set forth disaggregated information pertaining to our net sales: Three months ended Six months ended In thousands 2024 2023 2024 2023 Revenue by product category Airlaid Materials Feminine hygiene $ 44,783 $ 51,882 $ 89,592 $ 110,127 Specialty wipes 38,221 45,535 78,140 90,329 Tabletop 26,131 31,778 50,125 62,193 Food pads 2,856 3,361 6,663 6,901 Home care 6,214 6,781 12,361 14,140 Adult incontinence 5,773 7,063 12,370 14,422 Other 6,606 6,111 12,862 13,840 130,584 152,511 262,113 311,952 Composite Fibers Food & beverage 69,331 70,755 137,693 149,699 Wallcovering 15,023 19,570 28,944 35,727 Technical specialties 15,643 20,542 30,955 41,995 Composite laminates 11,355 8,818 22,674 17,801 Metallized 5,863 6,040 13,099 13,094 117,215 125,725 233,365 258,316 Spunlace Consumer wipes 32,441 34,759 65,147 72,868 Critical cleaning 29,550 17,584 57,882 46,733 Health care 10,214 16,808 18,981 27,183 Hygiene 7,255 5,034 14,220 10,694 High performance 2,386 4,608 5,091 7,817 Beauty care 351 627 1,006 848 82,197 79,420 162,327 166,143 Inter-segment sales elimination (553) (651) (1,106) (1,198) Total $ 329,443 $ 357,005 $ 656,699 $ 735,213 Three months ended Six months ended In thousands 2024 2023 2024 2023 Revenue by geography Airlaid Materials Americas $ 71,148 $ 85,492 $ 146,208 $ 175,329 Europe, Middle East and Africa 58,757 63,519 112,388 129,510 Asia Pacific 679 3,500 3,517 7,113 130,584 152,511 262,113 311,952 Composite Fibers Europe, Middle East and Africa 66,576 72,680 133,911 146,530 Americas 33,269 32,416 62,224 66,628 Asia Pacific 17,370 20,629 37,230 45,158 117,215 125,725 233,365 258,316 Spunlace Americas 53,199 50,001 104,466 103,153 Europe, Middle East and Africa 21,929 23,289 44,481 48,352 Asia Pacific 7,069 6,130 13,380 14,638 82,197 79,420 162,327 166,143 Inter-segment sales elimination (553) (651) (1,106) (1,198) Total $ 329,443 $ 357,005 $ 656,699 $ 735,213

GAINS ON DISPOSITION OF PLANT_2

GAINS ON DISPOSITION OF PLANT, EQUIPMENT AND TIMBERLANDS (Tables)	6 Months Ended
	Jun. 30, 2024
Property, Plant and Equipment [Abstract]
Schedule of Forth Sales of Timberlands and Other Assets	The following table sets forth sales of timberlands and other assets completed during the six months ended June 30, 2023: Dollars in thousands Acres Proceeds Gain 2023 Timberlands 216 $ 630 $ 617 Other n/a 105 48 Total $ 735 $ 665

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Schedule of Details of Basic and Diluted Earnings Per Share (EPS) from Continuing Operations	The following table sets forth the details of basic and diluted earnings per share (“EPS”) from continuing operations: Three months ended June 30, Six months ended June 30, In thousands, except per share 2024 2023 2024 2023 Loss from continuing operations $ (15,795) $ (36,631) $ (41,945) $ (49,813) Weighted average common shares outstanding used in basic EPS 45,338 45,041 45,261 44,999 Common shares issuable upon exercise of dilutive stock options and PSAs / RSUs — — — — Weighted average common shares outstanding and common share equivalents used in diluted EPS 45,338 45,041 45,261 44,999 Loss per share from continuing operations Basic $ (0.35) $ (0.82) $ (0.93) $ (1.11) Diluted (0.35) (0.82) (0.93) (1.11)
Schedule of Number of Potential Common Shares that have been Excluded from Computation of Diluted Earnings Per Share for Indicated Period Due to Their Anti-Dilutive Nature	The following table sets forth potential common shares outstanding that were not included in the computation of diluted EPS for the periods indicated, because their effect would be anti-dilutive: Three months ended June 30, Six months ended June 30, In thousands 2024 2023 2024 2023 Potential common shares 428 618 428 618

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Schedule of Changes in Accumulated Other Comprehensive Income (Losses)	The following table sets forth details of the changes in accumulated other comprehensive loss for the three and six months ended June 30, 2024 and 2023. In thousands Currency translation adjustments Unrealized gain (loss) on derivatives Change in pensions Change in other postretirement defined benefit plans Total Balance at April 1, 2024 $ (99,897) $ 11,997 $ (2,668) $ 357 $ (90,211) Other comprehensive loss before reclassifications (net of tax) (1,978) (177) — — (2,155) Amounts reclassified from accumulated other comprehensive income (net of tax) — (184) 24 (2) (162) Net current period other comprehensive income (loss) (1,978) (361) 24 (2) (2,317) Balance at June 30, 2024 $ (101,875) $ 11,636 $ (2,644) $ 355 $ (92,528) Balance at April 1, 2023 $ (99,579) $ 11,333 $ (2,587) $ 410 $ (90,423) Other comprehensive income before reclassifications (net of tax) 2,820 57 — — 2,877 Amounts reclassified from accumulated other comprehensive income (net of tax) — (68) 25 (7) (50) Net current period other comprehensive income (loss) 2,820 (11) 25 (7) 2,827 Balance at June 30, 2023 $ (96,759) $ 11,322 $ (2,562) $ 403 $ (87,596) Balance at January 1, 2024 $ (90,733) $ 10,555 $ (2,692) $ 361 $ (82,509) Other comprehensive income (loss) before reclassifications (net of tax) (11,142) 1,718 — — (9,424) Amounts reclassified from accumulated other comprehensive income (net of tax) — (637) 48 (6) (595) Net current period other comprehensive income (loss) (11,142) 1,081 48 (6) (10,019) Balance at June 30, 2024 $ (101,875) $ 11,636 $ (2,644) $ 355 $ (92,528) Balance at January 1, 2023 $ (106,242) $ 11,176 $ (3,247) $ 418 $ (97,895) Other comprehensive income before reclassifications (net of tax) 9,483 1,613 — — 11,096 Amounts reclassified from accumulated other comprehensive income (net of tax) — (1,467) 685 (15) (797) Net current period other comprehensive income (loss) 9,483 146 685 (15) 10,299 Balance at June 30, 2023 $ (96,759) $ 11,322 $ (2,562) $ 403 $ (87,596)
Schedule of Amounts Reclassified from Accumulated Other Comprehensive Income	Reclassifications out of accumulated other comprehensive loss and into the condensed consolidated statements of operations were as follows: Three months ended Six months ended In thousands 2024 2023 2024 2023 Description Line Item in Statements of Operations Cash flow hedges (Note 17) Gains on cash flow hedges $ (291) $ (400) $ (126) $ (1,318) Costs of products sold Tax provision (benefit) 107 332 (511) (149) Income tax provision (benefit) Net of tax (184) (68) (637) (1,467) Total cash flow hedges (184) (68) (637) (1,467) Retirement plan obligations (Note 10) Amortization of deferred benefit pension plans Prior service costs 4 6 8 12 Other, net Actuarial losses 21 21 48 43 Other, net Pension settlement — — — 633 Other, net 25 27 56 688 Tax benefit (1) (2) (8) (3) Income tax provision (benefit) Net of tax 24 25 48 685 Amortization of deferred benefit other plans Prior service costs 13 5 25 10 Other, net Actuarial gain (15) (12) (31) (25) Other, net (2) (7) (6) (15) Tax expense — — — — Income tax provision (benefit) Net of tax (2) (7) (6) (15) Total reclassifications, net of tax $ (162) $ (50) $ (595) $ (797)

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Share Based Compensation Activity	The following table summarizes RSU and PSA activity during periods indicated: Units 2024 2023 Balance at January 1, 2,273,939 1,650,152 Granted 2,403,905 1,354,102 Forfeited (254,730) (445,742) Shares delivered (386,508) (313,569) Balance at June 30, 4,036,606 2,244,943 The following table sets forth information related to outstanding SOSARs: 2024 2023 Shares Wtd Avg Exercise Price Shares Wtd Avg Exercise Price Outstanding at January 1, 531,519 $ 22.10 769,544 $ 21.34 Granted — — — — Exercised — — — — Canceled / forfeited (103,742) 29.89 (151,487) 18.36 Outstanding at June 30, 427,777 $ 20.21 618,057 $ 22.07
Schedule of Compensation Expense	The following table sets forth aggregate RSU and PSA compensation expense included in continuing operations for the periods indicated: June 30, In thousands 2024 2023 Three months ended $ 798 $ 376 Six months ended $ 1,469 $ 1,307

RETIREMENT PLANS AND OTHER PO_2

RETIREMENT PLANS AND OTHER POST-RETIREMENT BENEFITS (Tables)	6 Months Ended
	Jun. 30, 2024
Retirement Benefits [Abstract]
Schedule of Net Periodic Costs of Pension and Post-retirement Medical Benefit Plans	The following tables provide information with respect to the net periodic costs of our pension and post-retirement medical benefit plans included in continuing operations. Three months ended Six months ended In thousands 2024 2023 2024 2023 Pension Benefits Service cost $ — $ — $ — $ — Interest cost 346 362 701 773 Amortization of prior service cost 4 6 8 12 Amortization of actuarial loss 21 21 48 43 Pension settlement charge — — — 633 Total net periodic benefit expense $ 371 $ 389 $ 757 $ 1,461 Other Benefits Service cost $ 5 $ 2 $ 10 $ 5 Interest cost 41 45 82 89 Amortization of prior service cost 13 5 25 10 Amortization of actuarial gain (15) (12) (31) (25) Total net periodic benefit expense $ 44 $ 40 $ 86 $ 79

INCOME TAXES (Tables)

INCOME TAXES (Tables)	6 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Schedule of Information Included in Continuing Operations Related to Interest on Uncertain Tax Positions	The following table summarizes information included in continuing operations related to interest on uncertain tax positions: Six months ended June 30, In millions 2024 2023 Interest expense $ 1.4 $ 1.0 June 30, December 31, Accrued interest payable $ 7.7 $ 6.3 Accrued penalties 2.8 2.8

INVENTORIES (Tables)

INVENTORIES (Tables)	6 Months Ended
	Jun. 30, 2024
Inventory Disclosure [Abstract]
Schedule of Inventories, Net of Reserves	Inventories, net of reserves, were as follows: In thousands June 30, December 31, Raw materials $ 91,095 $ 82,012 In-process and finished 146,997 150,220 Supplies 67,023 66,016 Total $ 305,115 $ 298,248

GOODWILL AND OTHER INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Changes in Amounts of Goodwill and Other Intangible Assets	The following table sets forth changes in the amounts of goodwill and other intangible assets recorded by each of our segments during the periods indicated: In thousands December 31, Purchase price allocation adjustment Translation June 30, Goodwill Airlaid Materials $ 107,691 $ — $ (2,243) $ 105,448 Total $ 107,691 $ — $ (2,243) $ 105,448 Other Intangible Assets December 31, Amortization Translation June 30, Airlaid Materials Tradename $ 3,566 $ — $ (111) $ 3,455 Accumulated amortization (944) (87) 31 (1,000) Net 2,622 (87) (80) 2,455 Technology and related 18,121 — (547) 17,574 Accumulated amortization (6,819) (580) 206 (7,193) Net 11,302 (580) (341) 10,381 Customer relationships and related 43,986 — (749) 43,237 Accumulated amortization (17,685) (1,853) 411 (19,127) Net 26,301 (1,853) (338) 24,110 Spunlace Products and Tradenames 30,064 — (2,071) 27,993 Accumulated amortization (3,452) (750) 248 (3,954) Net 26,612 (750) (1,823) 24,039 Technology and related 15,833 — (1,091) 14,742 Accumulated amortization (3,146) (887) 427 (3,606) Net 12,687 (887) (664) 11,136 Customer relationships and related 30,478 — (2,099) 28,379 Accumulated amortization (3,669) (798) 260 (4,207) Net 26,809 (798) (1,839) 24,172 Total intangibles 142,048 — (6,668) 135,380 Total accumulated amortization (35,715) (4,955) 1,583 (39,087) Net intangibles $ 106,333 $ (4,955) $ (5,085) $ 96,293

LEASES (Tables)

LEASES (Tables)	6 Months Ended
	Jun. 30, 2024
Leases [Abstract]
Schedule of Information Related to Leases	The following table sets forth information related to our leases as of the periods indicated. Dollars in thousands June 30, December 31, R ight of use asset $ 24,649 $ 24,991 Weighted average discount rate 3.92 % 3.63 % Weighted average remaining maturity (years) 20 20 The following table sets forth operating lease expense for the periods indicated: June 30, In thousands 2024 2023 Three months ended $ 1,766 $ 1,568 Six months ended $ 3,365 $ 3,393
Schedule of Future Minimum Lease Payments	The following table sets forth required remaining future minimum lease payments during the years indicated: In thousands 2024 $ 3,109 2025 5,582 2026 3,270 2027 2,604 2028 1,954 Thereafter 18,850

LONG-TERM DEBT (Tables)

LONG-TERM DEBT (Tables)	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Schedule of Long-term Debt	Long-term debt is summarized as follows: In thousands June 30, December 31, Revolving credit facility, due Sep 2026 $ 114,345 $ 99,450 4.750% Senior Notes, due Oct 2029 500,000 500,000 11.25% Term loan, due Mar 2029 263,085 271,215 1.10% Term Loan, due Mar 2024 — 1,005 Total long-term debt 877,430 871,670 Less current portion — (1,005) Unamortized deferred issuance costs (15,548) (17,502) Long-term debt, net of current portion $ 861,882 $ 853,163
Schedule of Amortization of Term Loan Agreements Together with Maturities of Other Long-term Debt	The following schedule sets forth the amortization of our term loan agreements together with the maturity of our other long-term debt during the indicated year. In thousands 2024 $ — 2025 — 2026 114,345 2027 — 2028 — Thereafter 763,085

FAIR VALUE OF FINANCIAL INSTR_2

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Schedule of Carrying Value and Fair Value of Long-term Debt	The following table sets forth carrying value and fair value of long-term debt: June 30, 2024 December 31, 2023 In thousands Carrying Value Fair Value Carrying Value Fair Value Revolving credit facility, due Sep 2026 $ 114,345 $ 114,345 $ 99,450 $ 99,450 4.750% Senior Notes, due Oct 2029 500,000 415,000 500,000 346,250 11.25% Term loan, due Mar 2029 263,085 268,556 271,215 282,586 1.10% Term Loan, due Mar 2024 — — 1,005 993 Total $ 877,430 $ 797,901 $ 871,670 $ 729,279

FINANCIAL DERIVATIVES AND HED_2

FINANCIAL DERIVATIVES AND HEDGING ACTIVITIES (Tables)	6 Months Ended
	Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Outstanding Derivatives Used to Hedge Foreign Exchange Risks	We had the following outstanding derivatives that were used to hedge foreign exchange risks associated with forecasted transactions and designated as hedging instruments: In thousands June 30, December 31, Derivative Sell/Buy - sell notional Euro / British Pound 15,451 15,210 Philippine Peso / Euro — 137,449 U.S. Dollar / British Pound 11,907 18,470 U.S. Dollar / Euro 67 277 Sell/Buy - buy notional Euro / Philippine Peso 670,761 788,342 British Pound / Philippine Peso 949,006 923,653 Euro / U.S. Dollar 79,656 93,397 U.S. Dollar / Canadian Dollar 32,998 30,914 British Pound / U.S. Dollar — 2,211 The following sets forth derivatives used to mitigate the impact changes in currency exchange rates have on balance sheet monetary assets and liabilities: In thousands June 30, December 31, Derivative Sell/Buy - sell notional U.S. Dollar / British Pound 19,500 22,800 British Pound / Euro 4,300 3,500 Japanese Yen / Euro 38,000 — U.S. Dollar / Swiss Franc 10,000 13,620 British Pound / Swiss Franc 700 2,240 Euro / Swiss Franc 6,000 4,940 Euro / U.S. Dollar 11,100 11,000 U.S Dollar / Philippine Peso 7,300 6,700 Sell/Buy - buy notional Euro / U.S. Dollar 16,800 10,200 British Pound / Euro 10,000 6,470 Swiss Franc / Danish Krone 750 — U.S. Dollar / Canadian Dollar 3,100 1,120
Schedule of Fair Values of Derivative Instruments	The following table summarizes the fair values of derivative instruments for the period indicated and the line items in the accompanying condensed consolidated balance sheets where the instruments are recorded: In thousands June 30, December 31, 2023 June 30, December 31, 2023 Balance sheet caption Prepaid Expenses and Other Other Designated as hedging: Forward foreign currency exchange contracts $ 1,093 $ 851 $ 495 $ 1,653 Not designated as hedging: Forward foreign currency exchange contracts $ 576 937 $ 258 $ 155
Schedule of Income or (Loss) from Derivative Instruments	The following table summarizes the amount of income or (loss) from derivative instruments recognized in our results of operations for the periods indicated and the line items in the accompanying condensed consolidated statements of operations where the results are recorded: Three months ended Six months ended In thousands 2024 2023 2024 2023 Designated as hedging: Forward foreign currency exchange contracts: Cost of products sold $ (291) $ (400) $ (126) $ (1,318) Not designated as hedging: Forward foreign currency exchange contracts: Other – net $ 521 $ 16 $ 2,556 $ (218)
Schedule of Fair Value Amounts Recorded as Component of Accumulated Other Comprehensive Income (Loss) Before Taxes	A rollforward of fair value amounts recorded as a component of accumulated other comprehensive loss, before taxes, is as follows: In thousands 2024 2023 Balance at January 1, $ (808) $ 242 Deferred gains on cash flow hedges 668 1,315 Reclassified to earnings (126) (1,318) Balance at June 30, $ (266) $ 239

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Schedule of Financial and Other Information by Segment	The following tables set forth financial and other information by segment for the period indicated: Three months ended Six months ended Dollars in thousands 2024 2023 2024 2023 Net Sales Airlaid Material $ 130,584 $ 152,511 $ 262,113 $ 311,952 Composite Fibers 117,215 125,725 233,365 258,316 Spunlace 82,197 79,420 162,327 166,143 Inter-segment sales elimination (553) (651) (1,106) (1,198) Total $ 329,443 $ 357,005 $ 656,699 $ 735,213 Operating income (loss) Airlaid Material $ 7,505 $ 9,726 $ 12,463 $ 23,640 Composite Fibers 6,031 898 14,290 7,025 Spunlace 2,260 (1,314) 5,024 (3,337) Other and unallocated (8,502) (19,795) (26,028) (31,700) Total $ 7,294 $ (10,485) $ 5,749 $ (4,372) Depreciation and amortization Airlaid Material $ 7,602 $ 7,637 $ 15,266 $ 15,323 Composite Fibers 3,664 3,897 7,428 7,862 Spunlace 3,327 3,476 6,700 6,568 Other and unallocated 949 960 1,902 1,948 Total $ 15,542 $ 15,970 $ 31,296 $ 31,701 Capital expenditures Airlaid Material $ 1,571 $ 2,332 $ 3,662 $ 4,414 Composite Fibers 2,409 2,110 6,073 5,773 Spunlace 1,388 2,509 2,766 5,210 Other and unallocated 322 1,007 671 2,061 Total $ 5,690 $ 7,958 $ 13,172 $ 17,458 Tons shipped (metric) Airlaid Material 37,795 39,246 76,136 79,073 Composite Fibers 25,735 24,966 50,737 49,784 Spunlace 15,937 15,191 32,028 31,611 Inter-segment sales elimination (329) — (666) — Total 79,138 79,403 158,235 160,468

ORGANIZATION (Details)

ORGANIZATION (Details) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2024 USD ($) employee manufacturing_site	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($) employee manufacturing_site	Jun. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Net sales | $	$ 329,443	$ 357,005	$ 656,699	$ 735,213	$ 1,400,000
Number of employees employed | employee	2,907		2,907
Number of manufacturing sites | manufacturing_site	15		15

REVENUE (Details)

REVENUE (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Disaggregation Of Revenue [Line Items]
Net sales	$ 329,443	$ 357,005	$ 656,699	$ 735,213	$ 1,400,000
Operating Segments | Airlaid Materials
Disaggregation Of Revenue [Line Items]
Net sales	130,584	152,511	262,113	311,952
Operating Segments | Airlaid Materials | Americas
Disaggregation Of Revenue [Line Items]
Net sales	71,148	85,492	146,208	175,329
Operating Segments | Airlaid Materials | Europe, Middle East and Africa
Disaggregation Of Revenue [Line Items]
Net sales	58,757	63,519	112,388	129,510
Operating Segments | Airlaid Materials | Asia Pacific
Disaggregation Of Revenue [Line Items]
Net sales	679	3,500	3,517	7,113
Operating Segments | Airlaid Materials | Net sales
Disaggregation Of Revenue [Line Items]
Net sales	130,584	152,511	262,113	311,952
Operating Segments | Airlaid Materials | Feminine hygiene
Disaggregation Of Revenue [Line Items]
Net sales	44,783	51,882	89,592	110,127
Operating Segments | Airlaid Materials | Specialty wipes
Disaggregation Of Revenue [Line Items]
Net sales	38,221	45,535	78,140	90,329
Operating Segments | Airlaid Materials | Tabletop
Disaggregation Of Revenue [Line Items]
Net sales	26,131	31,778	50,125	62,193
Operating Segments | Airlaid Materials | Food pads
Disaggregation Of Revenue [Line Items]
Net sales	2,856	3,361	6,663	6,901
Operating Segments | Airlaid Materials | Home care
Disaggregation Of Revenue [Line Items]
Net sales	6,214	6,781	12,361	14,140
Operating Segments | Airlaid Materials | Adult incontinence
Disaggregation Of Revenue [Line Items]
Net sales	5,773	7,063	12,370	14,422
Operating Segments | Airlaid Materials | Other
Disaggregation Of Revenue [Line Items]
Net sales	6,606	6,111	12,862	13,840
Operating Segments | Composite Fibers
Disaggregation Of Revenue [Line Items]
Net sales	117,215	125,725	233,365	258,316
Operating Segments | Composite Fibers | Americas
Disaggregation Of Revenue [Line Items]
Net sales	33,269	32,416	62,224	66,628
Operating Segments | Composite Fibers | Europe, Middle East and Africa
Disaggregation Of Revenue [Line Items]
Net sales	66,576	72,680	133,911	146,530
Operating Segments | Composite Fibers | Asia Pacific
Disaggregation Of Revenue [Line Items]
Net sales	17,370	20,629	37,230	45,158
Operating Segments | Composite Fibers | Net sales
Disaggregation Of Revenue [Line Items]
Net sales	117,215	125,725	233,365	258,316
Operating Segments | Composite Fibers | Food & beverage
Disaggregation Of Revenue [Line Items]
Net sales	69,331	70,755	137,693	149,699
Operating Segments | Composite Fibers | Wallcovering
Disaggregation Of Revenue [Line Items]
Net sales	15,023	19,570	28,944	35,727
Operating Segments | Composite Fibers | Technical specialties
Disaggregation Of Revenue [Line Items]
Net sales	15,643	20,542	30,955	41,995
Operating Segments | Composite Fibers | Composite laminates
Disaggregation Of Revenue [Line Items]
Net sales	11,355	8,818	22,674	17,801
Operating Segments | Composite Fibers | Metallized
Disaggregation Of Revenue [Line Items]
Net sales	5,863	6,040	13,099	13,094
Operating Segments | Spunlace
Disaggregation Of Revenue [Line Items]
Net sales	82,197	79,420	162,327	166,143
Operating Segments | Spunlace | Americas
Disaggregation Of Revenue [Line Items]
Net sales	53,199	50,001	104,466	103,153
Operating Segments | Spunlace | Europe, Middle East and Africa
Disaggregation Of Revenue [Line Items]
Net sales	21,929	23,289	44,481	48,352
Operating Segments | Spunlace | Asia Pacific
Disaggregation Of Revenue [Line Items]
Net sales	7,069	6,130	13,380	14,638
Operating Segments | Spunlace | Net sales
Disaggregation Of Revenue [Line Items]
Net sales	82,197	79,420	162,327	166,143
Operating Segments | Spunlace | Consumer wipes
Disaggregation Of Revenue [Line Items]
Net sales	32,441	34,759	65,147	72,868
Operating Segments | Spunlace | Critical cleaning
Disaggregation Of Revenue [Line Items]
Net sales	29,550	17,584	57,882	46,733
Operating Segments | Spunlace | Health care
Disaggregation Of Revenue [Line Items]
Net sales	10,214	16,808	18,981	27,183
Operating Segments | Spunlace | Hygiene
Disaggregation Of Revenue [Line Items]
Net sales	7,255	5,034	14,220	10,694
Operating Segments | Spunlace | High performance
Disaggregation Of Revenue [Line Items]
Net sales	2,386	4,608	5,091	7,817
Operating Segments | Spunlace | Beauty care
Disaggregation Of Revenue [Line Items]
Net sales	351	627	1,006	848
Inter-segment sales elimination
Disaggregation Of Revenue [Line Items]
Net sales	$ (553)	$ (651)	$ (1,106)	$ (1,198)

PROPOSED MERGER (Details)

PROPOSED MERGER (Details) - Forecast	7 Months Ended
	Dec. 31, 2024 member
Reverse Recapitalization [Line Items]
Ownership percentage of shares outstanding	10%
Number of members of the board of directors	3
Berry Global Group, Inc.
Reverse Recapitalization [Line Items]
Ownership percentage of shares outstanding	90%
Number of members of the board of directors	6

GAINS ON DISPOSITION OF PLANT_3

GAINS ON DISPOSITION OF PLANT, EQUIPMENT AND TIMBERLANDS (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($) a	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($) a
Property, Plant and Equipment [Line Items]
Proceeds			$ 17	$ 735
Gain	$ (73)	$ 21	$ (71)	$ 665
Timberlands
Property, Plant and Equipment [Line Items]
Acres | a		216		216
Proceeds				$ 630
Gain				617
Other
Property, Plant and Equipment [Line Items]
Proceeds				105
Gain				$ 48

DISCONTINUED OPERATIONS (Detail

DISCONTINUED OPERATIONS (Details) - USD ($) $ in Thousands		3 Months Ended			6 Months Ended
	Aug. 08, 2024	Sep. 30, 2024	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Loss in discontinued operations			$ 484	$ 309	$ 681	$ 711
Supplier for Equipment Supplied and Installed | Subsequent Event
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Litigation settlement, amount awarded from other party	$ 6,500
Litigation settlement, monthly installment proceeds	$ 1,100
Supplier for Equipment Supplied and Installed | Subsequent Event | Forecast
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Litigation settlement, gain		$ 6,500

EARNINGS PER SHARE - Schedule o

EARNINGS PER SHARE - Schedule of Details of Basic and Diluted Earnings Per Share (EPS) from Continuing Operations (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Earnings Per Share [Abstract]
Loss from continuing operations	$ (15,795)	$ (36,631)	$ (41,945)	$ (49,813)
Weighted average common shares outstanding used in basic EPS (in shares)	45,338	45,041	45,261	44,999
Common shares issuable upon exercise of dilutive stock options and PSAs / RSUs (in shares)	0	0	0	0
Weighted average common shares outstanding and common share equivalents used in diluted EPS (in shares)	45,338	45,041	45,261	44,999
Loss per share from continuing operations
Basic (in dollars per share)	$ (0.35)	$ (0.82)	$ (0.93)	$ (1.11)
Diluted (in dollars per share)	$ (0.35)	$ (0.82)	$ (0.93)	$ (1.11)

EARNINGS PER SHARE - Schedule_2

EARNINGS PER SHARE - Schedule of Number of Potential Common Shares that have been Excluded from Computation of Diluted Earnings Per Share for Indicated Period Due to Their Anti-Dilutive Nature (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Earnings Per Share [Abstract]
Potential common shares (in shares)	428	618	428	618

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE LOSS - Schedule of Changes in Accumulated Other Comprehensive Income (Losses) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 223,322	$ 312,587	$ 256,854	$ 318,004
Other comprehensive income (loss) before reclassifications (net of tax)	(2,155)	2,877	(9,424)	11,096
Amounts reclassified from accumulated other comprehensive income (net of tax)	(162)	(50)	(595)	(797)
Other comprehensive income (loss)	(2,317)	2,827	(10,019)	10,299
Ending balance	205,520	278,838	205,520	278,838
Accumulated Other Comprehensive Loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(90,211)	(90,423)	(82,509)	(97,895)
Ending balance	(92,528)	(87,596)	(92,528)	(87,596)
Currency translation adjustments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(99,897)	(99,579)	(90,733)	(106,242)
Other comprehensive income (loss) before reclassifications (net of tax)	(1,978)	2,820	(11,142)	9,483
Amounts reclassified from accumulated other comprehensive income (net of tax)	0	0	0	0
Other comprehensive income (loss)	(1,978)	2,820	(11,142)	9,483
Ending balance	(101,875)	(96,759)	(101,875)	(96,759)
Unrealized gain (loss) on derivatives
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	11,997	11,333	10,555	11,176
Other comprehensive income (loss) before reclassifications (net of tax)	(177)	57	1,718	1,613
Amounts reclassified from accumulated other comprehensive income (net of tax)	(184)	(68)	(637)	(1,467)
Other comprehensive income (loss)	(361)	(11)	1,081	146
Ending balance	11,636	11,322	11,636	11,322
Defined Benefit Plans | Change in pensions
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(2,668)	(2,587)	(2,692)	(3,247)
Other comprehensive income (loss) before reclassifications (net of tax)	0	0	0	0
Amounts reclassified from accumulated other comprehensive income (net of tax)	24	25	48	685
Other comprehensive income (loss)	24	25	48	685
Ending balance	(2,644)	(2,562)	(2,644)	(2,562)
Defined Benefit Plans | Change in other postretirement defined benefit plans
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	357	410	361	418
Other comprehensive income (loss) before reclassifications (net of tax)	0	0	0	0
Amounts reclassified from accumulated other comprehensive income (net of tax)	(2)	(7)	(6)	(15)
Other comprehensive income (loss)	(2)	(7)	(6)	(15)
Ending balance	$ 355	$ 403	$ 355	$ 403

ACCUMULATED OTHER COMPREHENSI_4

ACCUMULATED OTHER COMPREHENSIVE LOSS - Schedule of Amounts Reclassified from Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Defined Benefit Plan Disclosure [Line Items]
Gains on cash flow hedges	$ 292,656	$ 338,872	$ 585,402	$ 680,866
Tax provision (benefit) expense	2,953	6,399	8,107	10,093
Other, net	2,509	3,045	4,536	6,323
Income (loss) before income taxes	12,842	30,232	33,838	39,720
Net of tax	16,279	36,940	42,626	50,524
Change in pensions
Defined Benefit Plan Disclosure [Line Items]
Pension settlement	0	0	0	633
Reclassifications Out of Accumulated Other Comprehensive Income
Defined Benefit Plan Disclosure [Line Items]
Net of tax	(162)	(50)	(595)	(797)
Reclassifications Out of Accumulated Other Comprehensive Income | Unrealized gain (loss) on derivatives
Defined Benefit Plan Disclosure [Line Items]
Net of tax	(184)	(68)	(637)	(1,467)
Reclassifications Out of Accumulated Other Comprehensive Income | Prior service costs | Change in pensions
Defined Benefit Plan Disclosure [Line Items]
Other, net	4	6	8	12
Reclassifications Out of Accumulated Other Comprehensive Income | Prior service costs | Other Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Other, net	13	5	25	10
Reclassifications Out of Accumulated Other Comprehensive Income | Actuarial losses | Change in pensions
Defined Benefit Plan Disclosure [Line Items]
Other, net	21	21	48	43
Reclassifications Out of Accumulated Other Comprehensive Income | Actuarial losses | Other Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Other, net	(15)	(12)	(31)	(25)
Reclassifications Out of Accumulated Other Comprehensive Income | Pension settlement | Change in pensions
Defined Benefit Plan Disclosure [Line Items]
Pension settlement	0	0	0	633
Reclassifications Out of Accumulated Other Comprehensive Income | Defined Benefit Plans | Change in pensions
Defined Benefit Plan Disclosure [Line Items]
Tax provision (benefit) expense	(1)	(2)	(8)	(3)
Income (loss) before income taxes	25	27	56	688
Net of tax	24	25	48	685
Reclassifications Out of Accumulated Other Comprehensive Income | Defined Benefit Plans | Other Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Tax provision (benefit) expense	0	0	0	0
Income (loss) before income taxes	(2)	(7)	(6)	(15)
Net of tax	(2)	(7)	(6)	(15)
Reclassifications Out of Accumulated Other Comprehensive Income | Cash Flow Hedges | Unrealized gain (loss) on derivatives
Defined Benefit Plan Disclosure [Line Items]
Gains on cash flow hedges	(291)	(400)	(126)	(1,318)
Tax provision (benefit) expense	107	332	(511)	(149)
Net of tax	$ (184)	$ (68)	$ (637)	$ (1,467)

SHARE-BASED COMPENSATION - Narr

SHARE-BASED COMPENSATION - Narrative (Details) - shares		6 Months Ended		12 Months Ended
	May 05, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Restricted Stock Units (RSU)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of awards granted (as a percent)				50%
Cumulative performance targets				3 years
Performance Share Awards (PSAs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of awards granted (as a percent)				50%
Granted (in shares)			698,741
Performance Share Awards (PSAs) | Share-Based Payment Arrangement, Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting term				2 years
Performance Share Awards (PSAs) | Share-Based Payment Arrangement, Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting term				3 years
SOSARs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares issued per award (in shares)		1
Term of awards (in years)		10 years
Minimum | Restricted Stock Units (RSU)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Additional service period (in years)				1 year
Maximum | Restricted Stock Units (RSU)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Additional service period (in years)				3 years
Amended Equity Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Increase in number of shares available for issuance (in shares)	675,000
Long Term Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock available for future issuance (in shares)		340,053
Long Term Incentive Plan | Restricted Stock Units (RSU)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting term		3 years
Long Term Incentive Plan | Restricted Stock Units (RSU) | Share-Based Payment Arrangement, Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of awards granted (as a percent)		33%
Long Term Incentive Plan | Restricted Stock Units (RSU) | Share-Based Payment Arrangement, Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of awards granted (as a percent)		33%
Long Term Incentive Plan | Restricted Stock Units (RSU) | Share-Based Payment Arrangement, Tranche Three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of awards granted (as a percent)		34%

SHARE-BASED COMPENSATION - Sche

SHARE-BASED COMPENSATION - Schedule of RSU and PSA Activity (Details) - Restricted Stock Units (RSU) and Performance Share Awards (PSAs) - shares	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Beginning balance (in shares)	2,273,939	1,650,152
Granted (in shares)	2,403,905	1,354,102
Forfeited (in shares)	(254,730)	(445,742)
Shares delivered (in shares)	(386,508)	(313,569)
Ending balance (in shares)	4,036,606	2,244,943

SHARE-BASED COMPENSATION - Sc_2

SHARE-BASED COMPENSATION - Schedule of Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Restricted Stock Units (RSU) and Performance Share Awards (PSAs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense	$ 798	$ 376	$ 1,469	$ 1,307

SHARE-BASED COMPENSATION - Sc_3

SHARE-BASED COMPENSATION - Schedule of Information Related to Outstanding SOSARs (Details) - SOSARs - $ / shares	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Shares
Beginning balance (in shares)	531,519	769,544
Granted (in shares)	0	0
Exercised (in shares)	0	0
Canceled / forfeited (in shares)	(103,742)	(151,487)
Ending balance (in shares)	427,777	618,057
Wtd Avg Exercise Price
Beginning balance (in dollars per share)	$ 22.10	$ 21.34
Granted (in dollars per share)	0	0
Exercised (in dollars per share)	0	0
Canceled / forfeited (in dollars per share)	29.89	18.36
Ending balance (in dollars per share)	$ 20.21	$ 22.07

RETIREMENT PLANS AND OTHER PO_3

RETIREMENT PLANS AND OTHER POST-RETIREMENT BENEFITS (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 0	$ 0	$ 0	$ 0
Interest cost	346	362	701	773
Amortization of prior service cost	4	6	8	12
Amortization of actuarial (loss) gain	21	21	48	43
Pension settlement charge	0	0	0	633
Total net periodic benefit expense	371	389	757	1,461
Other Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	5	2	10	5
Interest cost	41	45	82	89
Amortization of prior service cost	13	5	25	10
Amortization of actuarial (loss) gain	(15)	(12)	(31)	(25)
Total net periodic benefit expense	$ 44	$ 40	$ 86	$ 79

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Income Tax Contingency [Line Items]
Pretax loss	$ 12,842,000	$ 30,232,000	$ 33,838,000	$ 39,720,000
Income tax (benefit) provision	2,953,000	$ 6,399,000	8,107,000	$ 10,093,000
Increase in valuation allowance			10,300,000
Gross unrecognized tax benefits	62,700,000		62,700,000		$ 60,700,000
Unrecognized tax benefits that would impact effective tax rate	60,100,000		60,100,000
Minimum
Income Tax Contingency [Line Items]
Gross unrecognized tax benefits balance may decrease within the next twelve months	0		0
Maximum
Income Tax Contingency [Line Items]
Gross unrecognized tax benefits balance may decrease within the next twelve months	$ 8,300,000		$ 8,300,000

INCOME TAXES - Schedule of Info

INCOME TAXES - Schedule of Information Included in Continuing Operations Related to Interest on Uncertain Tax Positions (Details) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Interest expense	$ 1.4	$ 1
Accrued interest payable	7.7		$ 6.3
Accrued penalties	$ 2.8		$ 2.8

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Raw materials	$ 91,095	$ 82,012
In-process and finished	146,997	150,220
Supplies	67,023	66,016
Total	$ 305,115	$ 298,248

GOODWILL AND OTHER INTANGIBLE_3

GOODWILL AND OTHER INTANGIBLE ASSETS (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Goodwill
Goodwill, beginning balance	$ 107,691
Purchase price allocation adjustment	0
Translation	(2,243)
Goodwill, ending balance	105,448
Finite-lived Intangible Assets [Roll Forward]
Accumulated amortization, beginning balance	(35,715)
Accumulated amortization	(4,955)
Accumulated amortization, ending balance	(39,087)
Total intangibles	135,380	$ 142,048
Net intangibles	96,293	$ 106,333
Total intangibles, translation	(6,668)
Total accumulated amortization, translation	1,583
Net intangibles, translation	(5,085)
Airlaid Materials
Goodwill
Goodwill, beginning balance	107,691
Purchase price allocation adjustment	0
Translation	(2,243)
Goodwill, ending balance	105,448
Airlaid Materials | Tradename
Finite-lived Intangible Assets [Roll Forward]
Total intangibles, beginning balance	3,566
Total intangibles, Translation	(111)
Total intangibles, ending balance	3,455
Accumulated amortization, beginning balance	(944)
Accumulated amortization	(87)
Accumulated amortization, Translation	31
Accumulated amortization, ending balance	(1,000)
Net intangibles, beginning balance	2,622
Net intangibles, Translation	(80)
Net intangibles, ending balance	2,455
Airlaid Materials | Technology and related
Finite-lived Intangible Assets [Roll Forward]
Total intangibles, beginning balance	18,121
Total intangibles, Translation	(547)
Total intangibles, ending balance	17,574
Accumulated amortization, beginning balance	(6,819)
Accumulated amortization	(580)
Accumulated amortization, Translation	206
Accumulated amortization, ending balance	(7,193)
Net intangibles, beginning balance	11,302
Net intangibles, Translation	(341)
Net intangibles, ending balance	10,381
Airlaid Materials | Customer relationships and related
Finite-lived Intangible Assets [Roll Forward]
Total intangibles, beginning balance	43,986
Total intangibles, Translation	(749)
Total intangibles, ending balance	43,237
Accumulated amortization, beginning balance	(17,685)
Accumulated amortization	(1,853)
Accumulated amortization, Translation	411
Accumulated amortization, ending balance	(19,127)
Net intangibles, beginning balance	26,301
Net intangibles, Translation	(338)
Net intangibles, ending balance	24,110
Spunlace | Tradename
Finite-lived Intangible Assets [Roll Forward]
Total intangibles, beginning balance	30,064
Total intangibles, Translation	(2,071)
Total intangibles, ending balance	27,993
Accumulated amortization, beginning balance	(3,452)
Accumulated amortization	(750)
Accumulated amortization, Translation	248
Accumulated amortization, ending balance	(3,954)
Net intangibles, beginning balance	26,612
Net intangibles, Translation	(1,823)
Net intangibles, ending balance	24,039
Spunlace | Technology and related
Finite-lived Intangible Assets [Roll Forward]
Total intangibles, beginning balance	15,833
Total intangibles, Translation	(1,091)
Total intangibles, ending balance	14,742
Accumulated amortization, beginning balance	(3,146)
Accumulated amortization	(887)
Accumulated amortization, Translation	427
Accumulated amortization, ending balance	(3,606)
Net intangibles, beginning balance	12,687
Net intangibles, Translation	(664)
Net intangibles, ending balance	11,136
Spunlace | Customer relationships and related
Finite-lived Intangible Assets [Roll Forward]
Total intangibles, beginning balance	30,478
Total intangibles, Translation	(2,099)
Total intangibles, ending balance	28,379
Accumulated amortization, beginning balance	(3,669)
Accumulated amortization	(798)
Accumulated amortization, Translation	260
Accumulated amortization, ending balance	(4,207)
Net intangibles, beginning balance	26,809
Net intangibles, Translation	(1,839)
Net intangibles, ending balance	$ 24,172

LEASES - Schedule of Informatio

LEASES - Schedule of Information Related to Leases (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Leases [Abstract]
Right of use asset	$ 24,649	$ 24,991
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other assets	Other assets
Weighted average discount rate	3.92%	3.63%
Weighted average remaining maturity (years)	20 years	20 years

LEASES - Schedule of Operating

LEASES - Schedule of Operating Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Leases [Abstract]
Lease expense	$ 1,766	$ 1,568	$ 3,365	$ 3,393

LEASES - Schedule of Future Min

LEASES - Schedule of Future Minimum Lease Payments (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Leases [Abstract]
2024	$ 3,109
2025	5,582
2026	3,270
2027	2,604
2028	1,954
Thereafter	$ 18,850

LONG-TERM DEBT - Schedule of Lo

LONG-TERM DEBT - Schedule of Long-term Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023	Oct. 25, 2021
Debt Instrument [Line Items]
Total long-term debt	$ 877,430	$ 871,670
Less current portion	0	(1,005)
Unamortized deferred issuance costs	(15,548)	(17,502)
Long-term debt, net of current portion	$ 861,882	853,163
4.750% Senior Notes, due Oct 2029
Debt Instrument [Line Items]
Interest rate on debt (as a percent)	4.75%		4.75%
Total long-term debt	$ 500,000	500,000
11.25% Term loan, due Mar 2029
Debt Instrument [Line Items]
Interest rate on debt (as a percent)	11.25%
Total long-term debt	$ 263,085	271,215
1.10% Term Loan, due Mar 2024
Debt Instrument [Line Items]
Interest rate on debt (as a percent)	1.10%
Total long-term debt	$ 0	1,005
Revolving credit facility, due Sep 2026
Debt Instrument [Line Items]
Total long-term debt	$ 114,345	$ 99,450

LONG-TERM DEBT - Narrative (Det

LONG-TERM DEBT - Narrative (Details)		6 Months Ended		12 Months Ended
	Feb. 28, 2023 EUR (€) loan	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Dec. 31, 2021 loan	Dec. 31, 2023 USD ($)	Mar. 30, 2023 USD ($)	Mar. 30, 2023 EUR (€)	Oct. 25, 2021 USD ($)	Sep. 02, 2021 USD ($)	Sep. 02, 2021 EUR (€)
Debt Instrument [Line Items]
Number of loans | loan				2
Number of loans extinguished | loan	1
Extinguished debt amount | €	€ 20,000,000
Unamortized deferred issuance costs		$ 15,548,000			$ 17,502,000
Amortization of debt issuance costs		1,700,000	$ 3,100,000
Carrying value		877,430,000			871,670,000
Letters of credit outstanding		$ 0
Term Loan | Secured Debt
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity | €							€ 250,000,000
Term loan, due Feb 2024 | Secured Debt
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity | €							220,000,000
4.750% Senior Notes, due Oct 2029
Debt Instrument [Line Items]
Original principal								$ 500,000,000
Interest rate on debt (as a percent)		4.75%						4.75%
Carrying value		$ 500,000,000			500,000,000
Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity						$ 250,000,000			$ 400,000,000
Debt instrument covenant compliance leverage ratio, actual		3.5
Term Loan Facility
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity | €							€ 220,000,000			€ 220,000,000
Letters of Credit
Debt Instrument [Line Items]
Carrying value		$ 3,700,000			$ 5,700,000

LONG-TERM DEBT - Schedule of Am

LONG-TERM DEBT - Schedule of Amortization of Term Loan Agreements Together with Maturities of Other Long-term Debt (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Debt Disclosure [Abstract]
2024	$ 0
2025	0
2026	114,345
2027	0
2028	0
Thereafter	$ 763,085

FAIR VALUE OF FINANCIAL INSTR_3

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Value	$ 877,430	$ 871,670
Fair Value	797,901	729,279
Revolving credit facility, due Sep 2026
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Value	114,345	99,450
Fair Value	114,345	99,450
4.750% Senior Notes, due Oct 2029
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Value	500,000	500,000
Fair Value	$ 415,000	346,250
11.25% Term loan, due Mar 2029
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate on debt (as a percent)	11.25%
Carrying Value	$ 263,085	271,215
Fair Value	268,556	282,586
1.10% Term Loan, due Mar 2024
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Value	0	1,005
Fair Value	$ 0	$ 993

FINANCIAL DERIVATIVES AND HED_3

FINANCIAL DERIVATIVES AND HEDGING ACTIVITIES - Narrative (Details) $ in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023 USD ($)	Mar. 30, 2023 EUR (€)
Derivative [Line Items]
Pre-tax gain (loss) from changes in currency exchange rates | $		$ (3.7)
Derivative, term of contract	1 month
Term Loans
Derivative [Line Items]
Line of credit facility, maximum borrowing capacity | €			€ 220,000,000
Minimum | Unrealized gain (loss) on derivatives | Foreign Exchange Contract
Derivative [Line Items]
Accumulated other comprehensive income realization period (in months)	12 months
Minimum | Cash Flow Hedges | Designated as Hedging
Derivative [Line Items]
Maturities of foreign currency derivative contracts (in months)	1 month
Maximum | Unrealized gain (loss) on derivatives | Foreign Exchange Contract
Derivative [Line Items]
Accumulated other comprehensive income realization period (in months)	18 months
Maximum | Cash Flow Hedges | Designated as Hedging
Derivative [Line Items]
Maturities of foreign currency derivative contracts (in months)	15 months

FINANCIAL DERIVATIVES AND HED_4

FINANCIAL DERIVATIVES AND HEDGING ACTIVITIES - Schedule of Outstanding Derivatives Used to Hedge Foreign Exchange Risks (Details) ₱ in Thousands, € in Thousands, ¥ in Thousands, £ in Thousands, SFr in Thousands, $ in Thousands

Jun. 30, 2024 EUR (€)

Jun. 30, 2024 PHP (₱)

Jun. 30, 2024 USD ($)

Jun. 30, 2024 GBP (£)

Jun. 30, 2024 JPY (¥)

Jun. 30, 2024 CHF (SFr)

Dec. 31, 2023 EUR (€)

Dec. 31, 2023 PHP (₱)

Dec. 31, 2023 USD ($)

Dec. 31, 2023 GBP (£)

Dec. 31, 2023 JPY (¥)

Dec. 31, 2023 CHF (SFr)

U.S. Dollar / British Pound | Not Designated as Hedging | Sell/Buy - sell notional

Derivative Instruments And Hedging Activities Disclosures [Line Items]

Derivative notional amount

$ 19,500

$ 22,800

Euro / U.S. Dollar | Not Designated as Hedging | Sell/Buy - sell notional

Derivative Instruments And Hedging Activities Disclosures [Line Items]

Derivative notional amount | €

€ 11,100

€ 11,000

Euro / U.S. Dollar | Not Designated as Hedging | Sell/Buy - buy notional

Derivative Instruments And Hedging Activities Disclosures [Line Items]

Derivative notional amount | €

16,800

10,200

British Pound / Euro | Not Designated as Hedging | Sell/Buy - sell notional

Derivative Instruments And Hedging Activities Disclosures [Line Items]

Derivative notional amount | £

£ 4,300

£ 3,500

British Pound / Euro | Not Designated as Hedging | Sell/Buy - buy notional

Derivative Instruments And Hedging Activities Disclosures [Line Items]

Derivative notional amount | £

10,000

6,470

Japanese Yen / Euro | Not Designated as Hedging | Sell/Buy - sell notional

Derivative Instruments And Hedging Activities Disclosures [Line Items]

Derivative notional amount | ¥

¥ 38,000

¥ 0

U.S. Dollar / Swiss Franc | Not Designated as Hedging | Sell/Buy - sell notional

Derivative Instruments And Hedging Activities Disclosures [Line Items]

Derivative notional amount

10,000

13,620

British Pound / Swiss Franc | Not Designated as Hedging | Sell/Buy - sell notional

Derivative Instruments And Hedging Activities Disclosures [Line Items]

Derivative notional amount | £

700

2,240

Euro / Swiss Franc | Not Designated as Hedging | Sell/Buy - sell notional

Derivative Instruments And Hedging Activities Disclosures [Line Items]

Derivative notional amount | €

6,000

4,940

U.S Dollar / Philippine Peso | Not Designated as Hedging | Sell/Buy - sell notional

Derivative Instruments And Hedging Activities Disclosures [Line Items]

Derivative notional amount

7,300

6,700

Swiss Franc / Danish Krone | Not Designated as Hedging | Sell/Buy - buy notional

Derivative Instruments And Hedging Activities Disclosures [Line Items]

Derivative notional amount | SFr

SFr 750

SFr 0

U.S. Dollar / Canadian Dollar | Not Designated as Hedging | Sell/Buy - buy notional

Derivative Instruments And Hedging Activities Disclosures [Line Items]

Derivative notional amount

3,100

1,120

Cash Flow Hedges | Euro / British Pound | Designated as Hedging | Sell/Buy - sell notional

Derivative Instruments And Hedging Activities Disclosures [Line Items]

Derivative notional amount | €

15,451

15,210

Cash Flow Hedges | Philippine Peso / Euro | Designated as Hedging | Sell/Buy - sell notional

Derivative Instruments And Hedging Activities Disclosures [Line Items]

Derivative notional amount | ₱

₱ 0

₱ 137,449

Cash Flow Hedges | U.S. Dollar / British Pound | Designated as Hedging | Sell/Buy - sell notional

Derivative Instruments And Hedging Activities Disclosures [Line Items]

Derivative notional amount

11,907

18,470

Cash Flow Hedges | U.S. Dollar / Euro | Designated as Hedging | Sell/Buy - sell notional

Derivative Instruments And Hedging Activities Disclosures [Line Items]

Derivative notional amount

67

277

Cash Flow Hedges | Euro / Philippine Peso | Designated as Hedging | Sell/Buy - buy notional

Derivative Instruments And Hedging Activities Disclosures [Line Items]

Derivative notional amount | €

670,761

788,342

Cash Flow Hedges | British Pound / Philippine Peso | Designated as Hedging | Sell/Buy - buy notional

Derivative Instruments And Hedging Activities Disclosures [Line Items]

Derivative notional amount | £

949,006

923,653

Cash Flow Hedges | Euro / U.S. Dollar | Designated as Hedging | Sell/Buy - buy notional

Derivative Instruments And Hedging Activities Disclosures [Line Items]

Derivative notional amount | €

€ 79,656

€ 93,397

Cash Flow Hedges | U.S. Dollar / Canadian Dollar | Designated as Hedging | Sell/Buy - buy notional

Derivative Instruments And Hedging Activities Disclosures [Line Items]

Derivative notional amount

$ 32,998

$ 30,914

Cash Flow Hedges | British Pound / U.S. Dollar | Designated as Hedging | Sell/Buy - buy notional

Derivative Instruments And Hedging Activities Disclosures [Line Items]

Derivative notional amount | £

£ 0

£ 2,211

FINANCIAL DERIVATIVES AND HED_5

FINANCIAL DERIVATIVES AND HEDGING ACTIVITIES - Schedule of Fair Values of Derivative Instruments (Details) - Forward foreign currency exchange contracts - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Prepaid Expenses and Other Current Assets | Designated as Hedging
Derivatives Fair Value [Line Items]
Derivative asset, fair value	$ 1,093	$ 851
Prepaid Expenses and Other Current Assets | Not Designated as Hedging
Derivatives Fair Value [Line Items]
Derivative asset, fair value	576	937
Other Current Liabilities | Designated as Hedging
Derivatives Fair Value [Line Items]
Derivative liability, fair value	495	1,653
Other Current Liabilities | Not Designated as Hedging
Derivatives Fair Value [Line Items]
Derivative liability, fair value	$ 258	$ 155

FINANCIAL DERIVATIVES AND HED_6

FINANCIAL DERIVATIVES AND HEDGING ACTIVITIES - Schedule of Income or (Loss) from Derivative Instruments (Details) - Forward foreign currency exchange contracts - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Designated as Hedging
Derivative Instruments Gain Loss [Line Items]
Derivative instruments, gain (loss)	$ (291)	$ (400)	$ (126)	$ (1,318)
Not Designated as Hedging
Derivative Instruments Gain Loss [Line Items]
Derivative instruments, gain (loss)	$ 521	$ 16	$ 2,556	$ (218)

FINANCIAL DERIVATIVES AND HED_7

FINANCIAL DERIVATIVES AND HEDGING ACTIVITIES - Schedule of Fair Value Amounts Recorded as Component of Accumulated Other Comprehensive Income (Loss) Before Taxes (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 256,854	$ 318,004
Ending balance	205,520	278,838
Unrealized gain (loss) on derivatives
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	10,555	11,176
Ending balance	11,636	11,322
Unrealized gain (loss) on derivatives | Foreign Exchange Contract
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(808)	242
Deferred gains on cash flow hedges	668	1,315
Reclassified to earnings	(126)	(1,318)
Ending balance	$ (266)	$ 239

COMMITMENTS, CONTINGENCIES AN_2

COMMITMENTS, CONTINGENCIES AND LEGAL PROCEEDINGS (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2018	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Agreement term for environmental remediation (in years)	30 years	30 years
Escrow balance less than amounts due under fixed-price contract	$ 500
Total amount available in escrow account	9,100
Accrual for environmental loss contingencies	12,100
Accrual for environmental loss contingencies, current	300		$ 2,000
Accrual for environmental loss contingencies, noncurrent	$ 11,800

SEGMENT INFORMATION (Details)

SEGMENT INFORMATION (Details) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2024 USD ($) T	Jun. 30, 2023 USD ($) T	Jun. 30, 2024 USD ($) T	Jun. 30, 2023 USD ($) T	Dec. 31, 2023 USD ($)
Segment Reporting Information [Line Items]
Net Sales	$ 329,443	$ 357,005	$ 656,699	$ 735,213	$ 1,400,000
Operating income (loss)	7,294	(10,485)	5,749	(4,372)
Depreciation and amortization	15,542	15,970	31,296	31,701
Capital expenditures	$ 5,690	$ 7,958	$ 13,172	$ 17,458
Tons shipped (metric) | T	79,138	79,403	158,235	160,468
Operating Segments | Airlaid Material
Segment Reporting Information [Line Items]
Net Sales	$ 130,584	$ 152,511	$ 262,113	$ 311,952
Operating income (loss)	7,505	9,726	12,463	23,640
Depreciation and amortization	7,602	7,637	15,266	15,323
Capital expenditures	$ 1,571	$ 2,332	$ 3,662	$ 4,414
Tons shipped (metric) | T	37,795	39,246	76,136	79,073
Operating Segments | Composite Fibers
Segment Reporting Information [Line Items]
Net Sales	$ 117,215	$ 125,725	$ 233,365	$ 258,316
Operating income (loss)	6,031	898	14,290	7,025
Depreciation and amortization	3,664	3,897	7,428	7,862
Capital expenditures	$ 2,409	$ 2,110	$ 6,073	$ 5,773
Tons shipped (metric) | T	25,735	24,966	50,737	49,784
Operating Segments | Spunlace
Segment Reporting Information [Line Items]
Net Sales	$ 82,197	$ 79,420	$ 162,327	$ 166,143
Operating income (loss)	2,260	(1,314)	5,024	(3,337)
Depreciation and amortization	3,327	3,476	6,700	6,568
Capital expenditures	$ 1,388	$ 2,509	$ 2,766	$ 5,210
Tons shipped (metric) | T	15,937	15,191	32,028	31,611
Inter-segment sales elimination
Segment Reporting Information [Line Items]
Net Sales	$ (553)	$ (651)	$ (1,106)	$ (1,198)
Tons shipped (metric) | T	(329)	0	(666)	0
Other and unallocated
Segment Reporting Information [Line Items]
Operating income (loss)	$ (8,502)	$ (19,795)	$ (26,028)	$ (31,700)
Depreciation and amortization	949	960	1,902	1,948
Capital expenditures	$ 322	$ 1,007	$ 671	$ 2,061