Lydall (LDL) 10-Q 6 Nov 18 2018 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2018	Oct. 17, 2018
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q3
Trading Symbol	LDL
Entity Common Stock, Shares Outstanding		17,407,427
Entity Registrant Name	LYDALL INC /DE/
Entity Central Index Key	60,977
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Emerging Growth Company	false
Small Business	false

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Income Statement [Abstract]
Net sales	$ 197,886	$ 180,041	$ 575,959	$ 520,407
Cost of sales	162,747	139,987	465,186	396,528
Gross profit	35,139	40,054	110,773	123,879
Selling, product development and administrative expenses	25,406	24,700	74,755	73,339
Operating income	9,733	15,354	36,018	50,540
Interest expense	1,505	705	2,617	2,106
Other (income) expense, net	(40)	601	(93)	1,727
Income before income taxes	8,268	14,048	33,494	46,707
Income tax expense	2,076	3,404	5,854	11,201
Income from equity method investment	(64)	(31)	(120)	37
Net income	$ 6,256	$ 10,675	$ 27,760	$ 35,469
Earnings per share:
Basic (USD per share)	$ 0.36	$ 0.63	$ 1.61	$ 2.08
Diluted (USD per share)	$ 0.36	$ 0.62	$ 1.60	$ 2.05
Weighted average number of common shares outstanding:
Basic (shares)	17,216	17,055	17,189	17,028
Diluted (shares)	17,349	17,267	17,339	17,270

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Statement of Comprehensive Income [Abstract]
Net income	$ 6,256	$ 10,675	$ 27,760	$ 35,469
Other comprehensive income (loss):
Foreign currency translation adjustments	(658)	9,438	(9,262)	23,951
Pension liability adjustment, net of tax	198	172	595	516
Unrealized gain (loss) on hedging activities, net of tax	14	37	89	(7)
Comprehensive income	$ 5,810	$ 20,322	$ 19,182	$ 59,929

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 44,074	$ 59,875
Accounts receivable, less allowances (2018 - $1,505; 2017 - $1,507)	163,984	116,712
Contract assets	24,756	0
Inventories	91,879	80,339
Taxes receivable	4,177	5,525
Prepaid expenses	5,846	4,858
Other current assets	7,490	6,186
Total current assets	342,206	273,495
Property, plant and equipment, at cost	452,060	397,152
Accumulated depreciation	(240,129)	(226,820)
Net, property, plant and equipment	211,931	170,332
Goodwill	198,233	68,969
Other intangible assets, net	142,670	40,543
Other assets, net	8,199	7,532
Total assets	903,239	560,871
Current liabilities:
Current portion of long-term debt	10,182	277
Accounts payable	88,195	71,931
Accrued payroll and other compensation	15,317	15,978
Accrued taxes	3,555	2,230
Other accrued liabilities	14,507	11,690
Total current liabilities	131,756	102,106
Long-term debt	327,674	76,913
Deferred tax liabilities	41,064	14,714
Benefit plan liabilities	20,394	9,743
Other long-term liabilities	5,302	3,999
Commitments and Contingencies (Note 15)
Stockholders’ equity:
Preferred stock	0	0
Common stock	251	250
Capital in excess of par value	91,834	88,006
Retained earnings	404,141	374,783
Accumulated other comprehensive loss	(28,726)	(20,148)
Treasury stock, at cost	(90,451)	(89,495)
Total stockholders’ equity	377,049	353,396
Total liabilities and stockholders’ equity	$ 903,239	$ 560,871

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Allowances of accounts receivable	$ 1,505	$ 1,507

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Cash flows from operating activities:
Net income	$ 27,760	$ 35,469
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	22,442	19,386
Long-lived asset impairment charge	0	772
Inventory step-up amortization	1,390	1,108
Deferred income taxes	340	(466)
Stock-based compensation	3,187	3,240
(Income) loss from equity method investment	(120)	37
Loss on disposition of property, plant and equipment	100	0
Changes in operating assets and liabilities:
Accounts receivable	(25,407)	(12,138)
Contract assets	(5,443)	0
Inventories	(12,160)	(11,795)
Accounts payable	8,296	18,071
Accrued payroll and other compensation	(1,406)	2,044
Accrued taxes	981	(2,826)
Benefit plan liabilities	(7,635)	(3,797)
Other, net	2,173	(2,913)
Net cash provided by operating activities	14,498	46,192
Cash flows from investing activities:
Business acquisitions, net of cash acquired	(269,972)	(335)
Capital expenditures	(20,091)	(19,918)
Proceeds from the sale of property, plant and equipment	282	0
Net cash used for investing activities	(289,781)	(20,253)
Cash flows from financing activities:
Proceeds from borrowings	338,000	0
Debt repayments	(76,794)	(35,674)
Debt issuance cost payments	(538)	0
Common stock issued	846	409
Common stock repurchased	(956)	(2,592)
Net cash provided by (used for) financing activities	260,558	(37,857)
Effect of exchange rate changes on cash	(1,076)	4,690
Decrease in cash and cash equivalents	(15,801)	(7,228)
Cash and cash equivalents at beginning of period	59,875	71,934
Cash and cash equivalents at end of period	$ 44,074	$ 64,706

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Statement of Cash Flows [Abstract]
Non-cash capital expenditures	$ 6.1	$ 3.6

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Capital in Excess of Par Value	Retained Earnings	Accumulated Other Comprehensive Loss	Treasury Stock
Balance at beginning of period at Dec. 31, 2016					$ (47,950)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 35,469
Balance at end of period at Sep. 30, 2017					(23,490)
Balance at beginning of period (shares) at Dec. 31, 2017		25,018
Balance at beginning of period at Dec. 31, 2017	353,396	$ 250	$ 88,006	$ 374,783	(20,148)	$ (89,495)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	27,760			27,760
Other comprehensive income, net of tax	(8,578)				(8,578)
Stock repurchased	(956)					(956)
Stock issued under employee plans (shares)		83
Stock issued under employee plans	848	$ 1	847
Stock-based compensation expense	2,847		2,847
Stock issued to directors (shares)		3
Stock issued to directors	134		134
Balance at end of period (shares) at Sep. 30, 2018		25,104
Balance at end of period at Sep. 30, 2018	377,049	$ 251	$ 91,834	404,141	$ (28,726)	$ (90,451)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Adoption of ASC 606	$ 1,598			$ 1,598

Basis of Financial Statement Pr

Basis of Financial Statement Presentation	9 Months Ended
	Sep. 30, 2018
Accounting Policies [Abstract]
Basis of Financial Statement Presentation	Basis of Financial Statement Presentation Description of Business Lydall, Inc. and its subsidiaries (the “Company” or “Lydall”) design and manufacture specialty engineered nonwoven filtration media, industrial thermal insulating solutions, and thermal and acoustical barriers for filtration/separation and heat abatement and sound dampening applications. On July 12, 2018, the Company acquired certain assets and assumed certain liabilities of the Precision Filtration division of Precision Custom Coatings ("PCC") based in Totowa, NJ for $1.6 million in cash with additional cash payments of up to $2.0 million to be made based on the achievement of certain future financial targets through 2022. Precision Filtration is a producer of high-quality, air filtration media principally serving the commercial and residential HVAC markets with products in the efficiency range of MERV 7-11. The acquired business is included in the Company’s Performance Materials operating segment. On August 31, 2018, the Company acquired an engineered sealing materials business operating under Interface Performance Materials ("Interface"), based in Lancaster, Pennsylvania for $268.4 million , net of cash acquired of $5.2 million . A globally-recognized leader in the delivery of engineered sealing solutions, the Interface operations manufacture wet-laid gasket and specialty materials primarily serving OEM and Tier I manufacturers in the agriculture, construction, earthmoving, industrial, and automotive segments. The acquired business is included in the Company's Performance Materials operating segment. Basis of Presentation The accompanying Condensed Consolidated Financial Statements include the accounts of Lydall, Inc. and its subsidiaries. All financial information is unaudited for the interim periods reported. All significant intercompany transactions have been eliminated in the Condensed Consolidated Financial Statements. The Condensed Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The year-end Condensed Consolidated Balance Sheet was derived from the December 31, 2017 audited financial statements, but does not include all disclosures required by U.S. GAAP. Management believes that all adjustments, which include only normal recurring adjustments necessary for a fair statement of the Company’s condensed consolidated financial position, results of operations and cash flows for the periods reported, have been included. For further information, refer to the audited consolidated financial statements and accompanying notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017 . Effective January 1, 2018 the Company adopted the requirements of Accounting Standards Update ("ASU") No. 2014-09 (“ASC 606”) using the modified retrospective method. Therefore, the comparative information has not been adjusted and continues to be reported under the prior guidance of ASC 605. The details of the significant changes and quantitative impact of the changes are disclosed in Note 2 “Revenue from Contracts with Customers.” Effective January 1, 2018, the Company combined the Thermal/Acoustical Metals and Thermal/Acoustical Fibers operating segments into a single operating segment named Thermal Acoustical Solutions. Combining these automotive segments into one segment is expected to allow the Company to better serve its customers, leverage operating disciplines and drive efficiencies across the global automotive operations. Refer to Note 14 "Segment Information" for further information. Prior period segment amounts throughout the Notes to the Condensed Consolidated Financial Statements have been recast to reflect the new segment structure. The recast of historical business segment information had no impact on the Company’s consolidated financial results. Effective September 30, 2018, as a result of the Interface acquisition, the Performance Materials segment changed the disaggregation of revenue at the product level to be categorized as "Filtration" and "Sealing and Advanced Solutions". Prior period segment amounts throughout the Notes to the Condensed Consolidated Financial Statements have been recast to reflect the results of the new segment structure. The recast of historical business segment information had no impact on the consolidated financial results. Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board ("FASB") issued ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606)”. The amended guidance establishes a single comprehensive model for companies to use in accounting for revenue arising from contracts with customers and will supersede most of the existing revenue recognition guidance, including industry-specific guidance. The amended guidance clarifies that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In applying the amended guidance, an entity will (1) identify the contract(s) with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the contract’s performance obligations; and (5) recognize revenue when (or as) the entity satisfies a performance obligation. ASC 606 is effective for the Company’s interim and annual reporting periods beginning January 1, 2018, and is to be adopted using either a full retrospective or modified retrospective transition method. The Company adopted the amended guidance and all related amendments using the modified retrospective approach on January 1, 2018, at which time it became effective for the Company. The Company recognized the cumulative effect of initially applying the new revenue standard to all contracts that were not completed on the date of adoption as an adjustment to the opening balance of retained earnings. (See Note 2. “Revenue from Contracts with Customers”). At the adoption date, the cumulative impact of revenue that would have been recognized over time, was $19.6 million . The impact was primarily driven by tooling net sales of $16.3 million from customer contracts within the Thermal Acoustical Solutions ("TAS") segment. The related adoption impact to retained earnings was $1.6 million , net of tax. Refer to Note 2. In January 2016, the FASB issued ASU No. 2016-01, "Financial Instruments - Overall" (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities". This ASU revises an entity’s accounting related to (1) the classification and measurement of investments in equity securities and (2) the presentation of certain fair value changes for financial liabilities measured at fair value. It also amends certain disclosure requirements associated with the fair value of financial instruments. This ASU is effective for fiscal years beginning after December 15, 2017. In February 2018, the FASB issued ASU 2018-03, "Technical Corrections and Improvements to Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities", which clarifies various aspects of the guidance issued in ASU 2016-01. The adoption of these amendments is not required for public business entities with fiscal years beginning between December 15, 2017 and June 15, 2018 until the interim period beginning after June 15, 2018, however early adoption is permitted. The Company adopted both ASUs effective January 1, 2018. The adoption of these ASUs did not have any impact on the Company’s consolidated financial statements and disclosures. In August 2016, the FASB issued ASU No. 2016-15, "Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments", which provides guidance on eight specific cash flow classification issues. Prior to this ASU, GAAP did not include specific guidance on these eight cash flow classification issues. This ASU is effective for fiscal years beginning after December 15, 2017, with early adoption permitted. The adoption of this ASU did not have any impact on the Company’s consolidated financial statements and disclosures. In October 2016, the FASB issued ASU 2016-16, “Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory” as part of the Board’s initiative to reduce complexity in accounting standards. This ASU eliminates an exception in ASC 740, which prohibits the immediate recognition of income tax consequences of intra-entity asset transfers other than inventory. This ASU requires entities to recognize the immediate current and deferred income tax effects of intra-entity asset transfers. This ASU is effective for fiscal years beginning after December 15, 2017, with early adoption permitted. The adoption of this ASU did not have any impact on the Company’s consolidated financial statements and disclosures. In November 2016, the FASB issued ASU No. 2016-18, "Statement of Cash Flows (Topic 230): Restricted Cash", which clarifies guidance and presentation related to restricted cash in the statement of cash flows, including stating that restricted cash should be included within cash and cash equivalents on the statement of cash flows. The ASU was effective for fiscal years beginning after December 15, 2017, with early adoption permitted. The Company adopted this ASU effective January 1, 2018. The adoption of this ASU did not have any impact on the Company’s consolidated financial statements and disclosures. In January 2017, the FASB issued ASU No. 2017-01, "Business Combinations (Topic 805): Clarifying the Definition of a Business", which adds guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The definition of a business affects many areas of accounting including acquisitions, disposals, goodwill, and consolidation. The amendments of this ASU provide a screen to determine when an integrated set of assets and activities is not a business. This ASU was effective for fiscal years beginning after December 15, 2017. The Company evaluated this ASU in connection with its third quarter 2018 transactions and determined both to meet the definition of a business. In March 2017, the FASB issued ASU No. 2017-07, "Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost". This ASU requires an entity to report the service cost component of net benefit costs in the same line item(s) as other compensation costs arising from services rendered by the pertinent employees during the period. This ASU also requires the other components of net benefit cost, which includes interest costs and actual return on plan assets to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations. This ASU was effective for fiscal year beginning after December 15, 2017. As required for retrospective adoption, the Company reclassified net benefit costs of $0.1 million from cost of sales and $0.1 million from the selling, product development and administrative expenses to other expense, net, in the Consolidated Statement of Operations for the quarter ended September 30, 2017 . The Company reclassified net benefit costs of $0.2 million from cost of sales and $0.4 million from the selling, product development and administrative expenses to other expense, net, in the Consolidated Statement of Operations for the nine months ended September 30, 2017 . The adoption of this ASU had minimal impact on the Company's consolidated financial statements and disclosures for the quarter and nine months ended September 30, 2018 . In May 2017, the FASB issued ASU No. 2017-09, "Compensation - Stock Compensation (Topic 718): Scope of Modification Accounting". This ASU requires an entity to apply modification accounting in Topic 718 when there are changes to the terms or conditions of a share-based payment award, unless the fair value, vesting conditions, and classification of the modified award are the same as the original award immediately before the original award is modified. This ASU was effective for fiscal years beginning after December 15, 2017. The adoption of this ASU did not have any impact on the Company’s consolidated financial statements and disclosures. In February 2016, the FASB issued ASU No. 2016-02, "Leases (Topic 842)". This ASU requires entities that lease assets with lease terms of more than 12 months to recognize right-of-use assets and lease liabilities created by those leases on their balance sheets. This ASU will also require new qualitative and quantitative disclosures to help investors and other financial statement users better understand the amount, timing, and uncertainty of cash flows arising from leases. This ASU is effective for fiscal years beginning after December 15, 2018, with early adoption permitted. In July 2018, the FASB amended the leasing guidance to add a transition option. The Company plans to elect the transition option to continue to apply the legacy guidance ASC 840, Leases, including disclosure requirements, in the comparative periods presented in the year of adoption. With this election, a cumulative-effect adjustment will be recorded to retained earnings in the period of adoption. Based on the effective date, this amended guidance will apply to the Company beginning on January 1, 2019. Significant implementation matters being addressed by the Company include implementing an integrated third-party lease accounting application, assessing the impact to its internal control over financial reporting and documenting the new lease accounting process. T he Company is still in the process of evaluating the effect of adoption on its consolidated financial statements and currently assessing the accounting treatment of the leases under the new standard, the Company anticipates the ASU will have a material impact on its assets and liabilities due to the addition of right-of-use assets and lease liabilities to the balance sheet; however, it does not expect the ASU to have a material impact on the Company's consolidated cash flows or results of operations. In June 2018, the FASB issued ASU No. 2018-07, Compensation - Stock Compensation (Topic 718) (“ASU 2018 - 07”). ASU 2018 - 07 was issued in order to expand the guidance for stock-based compensation, to include share-based payment transactions for acquiring goods and services from nonemployees. The pronouncement is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2018, with early adoption permitted. The Company does not expect the adoption of the new accounting standard to have a material impact on its consolidated financial statements. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement (“ASU 2018-13”), which adds, amends and removes certain disclosure requirements related to fair value measurements. Among other changes, this standard requires certain additional disclosure surrounding Level 3 assets, including changes in unrealized gains or losses in other comprehensive income and certain inputs in those measurements. ASU 2018-13 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Certain amended or eliminated disclosures in this standard may be adopted early, while certain additional disclosure requirements in this standard can be adopted on its effective date. In addition, certain changes in the standard require retrospective adoption, while other changes must be adopted prospectively. The Company is currently evaluating the impact of this update on its consolidated financial statements and related disclosures. In August 2018, the FASB issued ASU No. 2018-14, "Compensation - Retirement Benefits - Defined Benefit Plans - General (Subtopic 715-20): Disclosure Framework - Changes to the Disclosure Requirements for Defined Benefit Plans." This ASU requires entities to disclose the weighted-average interest crediting rates for cash balance plans and other plans with promised interest crediting rates. This ASU also requires entities to disclose an explanation for significant gains and losses related to changes in the benefit obligation for the period. This ASU is effective for fiscal years beginning after December 15, 2020 with early adoption permitted. The Company is currently evaluating the method and impact the adoption of ASU 2018-14 will have on the Company’s consolidated financial statements and disclosures. In August 2018, the FASB issued ASU 2018 - 15, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40); Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract. The amendments in this update require implementation costs incurred by customers in cloud computing arrangements (i.e., hosting arrangements) to be capitalized under the same premises of authoritative guidance for internal-use software, and deferred over the noncancellable term of the cloud computing arrangement plus any option renewal periods that are reasonably certain to be exercised by the customer or for which the exercise is controlled by the service provider. The Company is required to adopt this new guidance in the first quarter of 2020. Early adoption is permitted. The Company is currently evaluating the impact of this update on its consolidated financial statements and related disclosures. Significant Accounting Policies The Company’s significant accounting policies are detailed in Note 1 “Significant Accounting Policies” within Part IV Item 15 of the Company’s Annual Report on Form 10-K for the year ended December 31, 2017. Significant changes to these accounting policies as a result of adopting ASC 606 “Revenue from Contracts with Customers” are discussed within Note 2, “Revenue from Contracts with Customers.”

Revenue from Contracts with Cus

Revenue from Contracts with Customers	9 Months Ended
	Sep. 30, 2018
Revenue from Contract with Customer [Abstract]
Revenue from Contracts with Customers	Revenue from Contracts with Customers The Company accounts for revenue in accordance with ASC 606, Revenue from Contracts from Customers. These revenues are generated from the design and manufacture of specialty engineered filtration media, industrial thermal insulating solutions, automotive thermal and acoustical barriers for filtration/separation and thermal/acoustical applications. The Company’s revenue recognition policies require the Company to make significant judgments and estimates. In applying the Company’s revenue recognition policy, determinations must be made as to when control of products passes to the Company’s customers which can be either at a point in time or over time. Revenue is generally recognized at a point in time when control passes to customers upon shipment of the Company’s products and revenue is generally recognized over time when control of the Company’s products transfers to customers during the manufacturing process (see description below). The Company analyzes several factors, including but not limited to, the nature of the products being sold and contractual terms and conditions in contracts with customers to help the Company make such judgments about revenue recognition. The Company accounts for revenue from contracts with customers when there is approval and commitment from both parties, the rights of the parties are identified, payment terms are identified, the contract has commercial substance and collectability of consideration is probable. Revenue is primarily derived from customer purchase orders, master sales agreements, and negotiated contracts, all of which represent contracts with customers. The Company next identifies the performance obligations in the contract. A performance obligation is a promise to provide distinct goods or services. Performance obligations are the unit of account for purposes of applying the revenue standard and therefore determines when and how revenue is recognized. The Company determines the performance obligations at contract inception based on the goods that are promised in a contract with a customer. Typical performance obligations include automotive parts, automotive tooling, rolled good media and filter bags. The transaction price in the contract is determined based on the consideration to which the Company will be entitled in exchange for transferring products to the customer, excluding amounts collected on behalf of third parties (for example, sales taxes). The transaction price is typically stated on the purchase order or in a negotiated agreement. Certain contracts may include variable consideration in the transaction price, such as rebates, pricing discounts, price concessions, sales incentives, index pricing or other provisions that can decrease the transaction price. Estimates of variable consideration and determination of whether to include estimated amounts in the transaction price are based on reasonably available information (customer historical, current and forecasted data). In certain circumstances where a particular outcome is probable, the Company utilizes the most likely amount to which the Company expects to be entitled. The Company accounts for consideration payable to a customer as a reduction of the transaction price thereby reducing the amount of revenue recognized. Consideration payable to a customer includes cash amounts that the Company pays, or expects to pay, to a customer based on certain contract requirements. The Company recognizes revenue as performance obligations are satisfied, which can be either over time or at a point in time, depending on when control of the Company’s products transfers to its customers. In circumstances when control transfers over time, revenue is recognized based on the extent of progress towards completion of the performance obligation. Due to the nature of the work required to be performed on many of the Company’s performance obligations, the estimation of total revenue and cost at completion is complex, subject to many variables and requires significant judgment. The selection of the method to measure progress towards completion requires judgment and is based on the nature of the products to be provided. The Company generally uses the cost-to-cost measure of progress for contracts because it best depicts the transfer of control to the customer which occurs as costs are incurred on contracts. Under the cost-to-cost measure of progress, the extent of progress towards completion is measured based on the ratio of costs incurred to date to the total estimated costs at completion of the performance obligation. Revenues are recorded proportionally as costs are incurred. For tooling revenue recognized over time, the Company makes significant judgments which includes, but not limited to, estimated costs to completion, costs incurred to date, and assesses risks related to changes in estimates of revenues and costs. In doing so, management must make assumptions regarding the work required to fulfill the performance obligations, which is dependent upon the execution by the Company's subcontractors, among other variables and contract requirements. Changes in estimates for revenue recognized over time are recorded by the Company in the period they become known. Changes are recognized on a cumulative catch-up basis in net sales, costs of sales, and operating income. The cumulative catch up adjustment recognizes in the current period the cumulative effect of changes in estimates on current and prior periods. Performance Obligations The following is a description of products and performance obligations, separated by reportable segments, from which the Company generates its revenue. For more detailed information about reportable segments, see Note 14 “Segment Information.” Segment Performance Materials Products Products for this segment include filtration media solutions primarily for air, fluid power, life science and industrial applications, gasket and sealing solutions, thermal insulation, energy storage, and other engineered products. Performance Obligations These contracts typically have distinct performance obligations, which is the promise to transfer the media solutions to the Company’s customers. The Company recognizes revenue at a point in time or over time, based upon when control of the underlying product transfers to the customer. If revenue is recognized at a point in time, the performance obligation is typically satisfied upon shipment and in accordance with shipping terms. In circumstances when control transfers over time, revenue is recognized based on the extent of progress towards completion of the performance obligation. Customer payment terms are negotiated on a contract-by-contract basis and typically range from 30 to 90 days. Segment Technical Nonwovens Products This segment produces needle punch nonwoven solutions including industrial filtration and advanced materials products. Industrial Filtration products include nonwoven rolled-good felt media and filter bags used primarily in industrial air and liquid filtration applications. Advanced materials products include nonwoven rolled good media used in commercial applications and predominantly serves the geosynthetic, automotive, industrial, medical, and safety apparel markets. The automotive media is provided to tier-one suppliers as well as the Company’s Thermal Acoustical Solutions segment. Performance Obligations These contracts typically have distinct performance obligations, which is the promise to transfer the industrial filtration or advanced materials products to the Company’s customers. The Company recognizes revenue at a point in time or over time, based upon when control transfers to the customer. If revenue is recognized at a point in time, the performance obligation is typically satisfied upon shipment and in accordance with shipping terms. In circumstances when control transfers over time, revenue is recognized based on the extent of progress towards completion of the performance obligation. Customer payment terms are negotiated on a contract-by-contract basis and typically range from 30 to 90 days. For filter bag sales, the Company may enter into warranty agreements that are implied or sold with the product to provide assurance that a product will function as expected and in accordance with certain specifications. Therefore, this type of warranty is not a separate performance obligation. Segment Thermal Acoustical Solutions Products Parts - The segment produces a full range of innovative engineered products tailored for the transportation sector to thermally shield sensitive components from high heat, improve exhaust gas treatment and lower harmful emissions as well as assist in the reduction of noise vibration and harshness. The majority of products are sold to original equipment manufacturers and tier-one suppliers. Tooling - The Company enters into contractual agreements with certain customers within the automotive industry, to design and develop molds, dies and tools (collectively, “tooling”). Performance Obligations Parts - Customer contracts typically have distinct performance obligations, which is the promise to transfer manufactured parts to these customers. The Company recognizes parts revenue at a point in time or over time, based upon when control transfers to the customer. If revenue is recognized at a point in time, the performance obligation is typically satisfied upon shipment and in accordance with shipping terms. In circumstances when control transfers over time, revenue is recognized based on the extent of progress towards completion of the performance obligation. Customer payment terms are negotiated on a contract-by-contract basis and typically range from 30 to 90 days. Tooling - Customer contracts typically have distinct performance obligations and are generally completed within one year. The Company periodically enters into multiple contracts with a customer at or near the same time which may be combined for purposes of determining the appropriate transaction price. The Company allocates the transaction price to each performance obligation in the contract based on a relative stand-alone selling price using costs incurred plus expected margin. The corresponding revenues are recognized over time as the related performance obligations are satisfied. Tooling customer payment terms typically range from 30 to 90 days after title transfers to the customer. Occasionally customers make progress payments as the tool is constructed. Practical Expedients and Exemptions The Company has elected to adopt the contract cost practical expedient. This expedient allows the Company to recognize its incremental costs of obtaining contracts, such as sales commissions, as an expense when incurred if the related contract revenue is expected to be recognized in one year or less. These costs are included in selling, product development and administrative expenses. The Company has made an accounting policy election to record shipping and handling activities occurring after control has passed to the customer to be treated as a fulfillment cost rather than as a distinct performance obligation. Shipping and handling expenses consist primarily of costs incurred to deliver products to customers and internal costs related to preparing products for shipment and are recorded as a cost of sales. Amounts billed to customers as shipping and handling are classified as revenue when services are performed. ASC 606 requires the disclosure of unsatisfied performance obligations related to contracts from customers at the end of each reporting period. The Company has elected the practical expedient because the Company’s contracts generally have a duration of one year or less, therefore no disclosure is required. The Company has elected to adopt the practical expedient to disregard the need to adjust the promised amount of consideration for the effects of a significant financing component as the Company expects that the period of time between when the products are transferred to the customer and when the Company is paid for those products will be one year or less. Contract Assets and Liabilities The Company’s contract assets primarily include unbilled amounts typically resulting from sales under contracts when the over time method of revenue recognition is utilized and revenue recognized exceeds the amount billed to the customer. These unbilled accounts receivable in contract assets are transferred to accounts receivable upon invoicing, typically when the right to payment becomes unconditional in which case payment is due based only upon the passage of time. The Company’s contract liabilities primarily relate to billings and advance payments received from customers, and deferred revenue. These contract liabilities represent the Company’s obligation to transfer its products to its customers for which the Company has received, or is owed consideration from its customers. Contract liabilities are included in other accrued liabilities on the Company’s Condensed Consolidated Balance Sheets. Contract assets and liabilities consisted of the following (in thousands): September 30, 2018 January 1, 2018 Dollar Change Contract assets $ 24,756 $ 19,125 $ 5,631 Contract liabilities $ 3,188 $ 2,820 $ 368 The $5.6 million increase in contract assets from January 1, 2018 to September 30, 2018 was primarily due to timing of billings to customers and contract assets increased $ 0.2 million relating to the acquisition of Interface. See Note 3 “Acquisitions." The $0.4 million increase in contract liabilities from January 1, 2018 to September 30, 2018 was primarily due to an increase in customer deposits partially offset by revenue recognized of $ 2.5 million in the first nine months of 2018 related to contract liabilities at January 1, 2018. Impacts on Financial Statements The cumulative effect of the changes made to the Company’s Condensed Consolidated January 1, 2018 Balance Sheet for the adoption of ASC 606 was as follows: In thousands December 31, 2017 Adjustments for Adoption of ASC606 January 1, 2018 Assets: Contract assets $ — $ 19,125 $ 19,125 Inventories $ 80,339 $ (15,184 ) $ 65,155 Liabilities: Accounts payable $ 71,931 $ 663 $ 72,594 Other accrued liabilities $ 11,690 $ 1,209 $ 12,899 Deferred tax liabilities $ 14,714 $ 471 $ 15,185 Stockholders' equity: Retained earnings $ 374,783 $ 1,598 $ 376,381 The cumulative effect of the changes made to the Company’s Condensed Consolidated Balance Sheet for the adoption of ASC 606 was as follows: September 30, 2018 In thousands Balances Without Adoption of ASC 606 ASC 606 Adjustments As Reported Assets: Contract assets $ — $ 24,756 $ 24,756 Inventories $ 113,718 $ (21,839 ) $ 91,879 Liabilities: Accounts payable $ 86,502 $ 1,693 $ 88,195 Other accrued liabilities $ 16,655 $ (2,148 ) $ 14,507 Deferred tax liabilities $ 40,306 $ 758 $ 41,064 Stockholders' equity: Retained earnings $ 401,489 $ 2,652 $ 404,141 Accumulated other comprehensive loss $ (28,688 ) $ (38 ) $ (28,726 ) The cumulative effect of the changes made to the Company’s Condensed Consolidated Statement of Operations for the adoption of ASC 606 for the quarter and nine months ended September 30, 2018 were as follows: Quarter Ended September 30, 2018 In thousands Results Without Adoption of ASC606 Effect of Change As Reported Net sales $ 198,949 $ (1,063 ) $ 197,886 Cost of sales 164,793 (2,046 ) 162,747 Gross profit 34,156 983 35,139 Selling, product development and administrative expenses 25,406 — 25,406 Operating income 8,750 983 9,733 Interest expense 1,505 — 1,505 Other income, net (40 ) — (40 ) Income before income taxes 7,285 983 8,268 Income tax expense 1,846 230 2,076 Income from equity method investment (64 ) — (64 ) Net income $ 5,503 $ 753 $ 6,256 Earnings per share: Basic $ 0.32 $ 0.04 $ 0.36 Diluted $ 0.32 $ 0.04 $ 0.36 Weighted average number of common shares outstanding: Basic 17,216 — 17,216 Diluted 17,349 — 17,349 In the third quarter of 2018, ASC 606 had a negative impact to net sales of $1.1 million primarily due to tooling sales. However, ASC 606 had a positive impact to gross profit of $1.0 million as tooling sales had a minimal effect on gross profit. ASC 606 resulted in lower tooling net sales and cost of sales of approximately $5.0 million as tooling projects, with minimal gross profit and over time revenue recognition under ASC 606, were closed and invoiced to customers. The gross profit effect of $1.0 million was due to over time non-tooling sales recognized in the third quarter under ASC 606 of approximately $3.9 million at a gross profit of approximately $1.0 million. Nine Months Ended September 30, 2018 In thousands Results Without Adoption of ASC606 Effect of Change As Reported Net sales $ 569,160 $ 6,799 $ 575,959 Cost of sales 459,728 5,458 465,186 Gross profit 109,432 1,341 110,773 Selling, product development and administrative expenses 74,755 — 74,755 Operating income 34,677 1,341 36,018 Interest expense 2,617 — 2,617 Other income, net (93 ) — (93 ) Income before income taxes 32,153 1,341 33,494 Income tax expense 5,567 287 5,854 Income from equity method investment (120 ) — (120 ) Net income $ 26,706 $ 1,054 $ 27,760 Earnings per share: Basic $ 1.55 $ 0.06 $ 1.61 Diluted $ 1.54 $ 0.06 $ 1.60 Weighted average number of common shares outstanding: Basic 17,189 — 17,189 Diluted 17,339 — 17,339 Disaggregated Revenue The Company disaggregates revenue from customers by geographic region, as it believes this disclosure best depicts how the nature, amount, timing and uncertainty of the Company's revenue and cash flows are affected by economic factors. Disaggregated revenue by geographical region for the quarter and nine months ended September 30, 2018 were as follows: Quarter Ended September 30, 2018 In thousands Performance Materials Technical Nonwovens Thermal Acoustical Solutions Eliminations and Other Consolidated Net Sales North America $ 29,048 $ 44,092 $ 58,484 $ (4,891 ) $ 126,733 Europe 12,120 18,757 24,183 (225 ) 54,835 Asia 552 10,222 5,544 — 16,318 Total Net Sales $ 41,720 $ 73,071 $ 88,211 $ (5,116 ) $ 197,886 Nine Months Ended September 30, 2018 In thousands Performance Materials Technical Nonwovens Thermal Acoustical Solutions Eliminations and Other Consolidated Net Sales North America $ 69,088 $ 128,788 $ 190,385 $ (19,249 ) $ 369,012 Europe 34,007 56,197 76,753 (580 ) 166,377 Asia 552 27,339 12,679 — 40,570 Total Net Sales $ 103,647 $ 212,324 $ 279,817 $ (19,829 ) $ 575,959

Acquisitions

Acquisitions	9 Months Ended
	Sep. 30, 2018
Business Combinations [Abstract]
Acquisitions	Acquisitions On August 31, 2018, the Company completed the previously announced acquisition of Interface Performance Materials ("Interface"), based in Lancaster, Pennsylvania. A globally-recognized leader in the delivery of engineered sealing solutions, the Interface operations manufacture wet-laid gasket and specialty materials primarily serving OEM and Tier I manufacturers in the Agriculture, Construction, Earthmoving, Industrial, and Automotive segments. The transaction strengthens the Company's position as an industry-leading global provider of filtration materials and expands the Company's end markets into attractive adjacencies. The Company acquired one hundred percent of Interface for $268.4 million , net of cash acquired of $5.2 million , subject to a post-closing purchase price adjustment that is expected to be finalized in the fourth quarter of 2018. The purchase price was financed with a combination of cash on hand and $261.4 million of borrowings from the Company's amended $450 million credit facility. The assets and liabilities of Interface have been included in the Company's Consolidated Balance Sheet at September 30, 2018. The acquired business is included in the Company's Performance Materials reporting segment. During the quarter and nine months ended September 30, 2018, the Company incurred $1.5 million and $2.6 million , respectively, of transaction costs, related to the acquisition of Interface. These transaction costs include legal fees and other professional services fees to complete the transaction. These corporate office expenses have been recognized in the Company's Condensed Consolidated Statements of Operations as selling, product development and administrative expenses. The results of operations of Interface have been included in the Company's results from the date of the acquisition, and for the quarter and nine months ended September 30, 2018, Interface reported net sales and operating loss of $11.8 million and $0.3 million , respectively. Interface's operating loss for the quarter and nine months ended September 30, 2018 included $1.4 million of purchase accounting inventory fair value step-up adjustments in cost of sales upon the sale of inventory and $0.9 million of intangible amortization expense in selling, product development and administrative expenses. The following table presents the preliminary determination of the fair value of identifiable assets acquired and liabilities assumed from the Company's acquisition of Interface. The final determination of the fair value of certain assets and liabilities will be completed within the one year measurement period as required by the FASB ASC Topic 805, “Business Combinations.” As the Company finalizes the fair value of assets acquired and liabilities assumed, additional purchase price adjustments may be recorded during the measurement period in the last quarter of 2018 and the first eight months of 2019. Fair value estimates are based on a complex series of judgments about future events and uncertainties and rely heavily on estimates and assumptions. The judgments used to determine the estimated fair value assigned to each class of assets acquired and liabilities assumed, as well as asset lives, can materially impact the Company's results of operations. The finalization of the purchase accounting assessment may result in a change in the valuation of assets acquired and liabilities assumed and may have a material impact on the Company's results of operations and financial position. The following is a preliminary estimate of the assets acquired and the liabilities assumed by the Company at the date of the acquisition: In thousands Accounts receivable $ 25,182 Inventories 17,313 Prepaid expenses and other current assets 2,382 Property, plant and equipment 40,902 Goodwill (Note 5) 130,462 Other intangible assets (Note 5) 107,800 Other assets 308 Total assets acquired, net of cash acquired $ 324,349 Current liabilities $ (11,319 ) Deferred tax liabilities (25,275 ) Benefit plan liabilities (18,352 ) Other long-term liabilities (1,031 ) Total liabilities assumed (55,977 ) Total purchase price, net of cash acquired $ 268,372 The following table reflects the unaudited pro forma operating results of the Company for the quarter and nine months ended September 30, 2018 and 2017, which gives effect to the acquisition of Interface as if it had occurred on January 1, 2017. The pro forma information includes the historical financial results of the Company and Interface. The pro forma results are not necessarily indicative of the operating results that would have occurred had the acquisition been effective January 1, 2017, nor are they intended to be indicative of results that may occur in the future. The pro forma information does not include the effects of any synergies related to the acquisition. (Unaudited Pro Forma) (Unaudited Pro Forma) Quarter Ended Nine Months Ended In thousands 2018 2017 2018 2017 Net sales $ 220,937 $ 214,503 $ 678,418 $ 627,197 Net income $ 6,147 $ 8,474 $ 28,461 $ 26,061 Earnings per share: Basic $ 0.36 $ 0.50 $ 1.66 $ 1.53 Diluted $ 0.35 $ 0.49 $ 1.64 $ 1.51 Basic 17,216 17,055 17,189 17,028 Diluted 17,349 17,267 17,339 17,270 Pro forma adjustments to historical financial statements during the quarter ended September 30, 2018 resulted in an additional $7.9 million of net income. Earnings were adjusted to exclude non-recurring items such as acquisition related expenses for both Lydall and Interface, purchase accounting adjustments for inventory step-up and tax valuation allowance expenses. Earnings were also adjusted to include items such as additional intangibles amortization expense and additional interest expense associated with borrowings under the Company's Amended Credit Facility. Pro forma adjustments during the quarter ended September 30, 2017 reduced net income by $1.7 million . Earnings for the quarter ended September 30, 2017 were adjusted to include items such as additional intangibles amortization expense and additional interest expense associated with borrowings under the Company's Amended Credit Facility. Earnings were adjusted to exclude items such as Interface management fee expenses and tax valuation allowance expenses. Pro forma adjustments during the nine months ended September 30, 2018 resulted in an additional $5.6 million of net income. Earnings were adjusted to exclude items such as acquisition related expenses for both Lydall and Interface, purchase accounting adjustments for inventory step-up and tax valuation allowance expenses. Earnings for the nine months ended September 30, 2018 were adjusted to include items such as additional intangibles amortization expense and additional interest expense associated with borrowings under the Company's Amended Credit Facility. Pro forma adjustments during the nine months ended September 30, 2017 reduced net income by $11.6 million . Earnings for the nine months ended September 30, 2017 were adjusted to include items such as acquisition related expenses for both Lydall and Interface, additional intangibles amortization expense, purchase accounting adjustments for inventory step-up and additional interest expense associated with borrowings under the Company's Amended Credit Facility. Earnings were adjusted to exclude items such as Interface management fee expenses and tax valuation allowance expenses. On July 12, 2018, the Company acquired certain assets and assumed certain liabilities of the Precision Filtration division of Precision Custom Coatings ("PCC") based in Totowa, NJ. Precision Filtration is a producer of high-quality, air filtration media principally serving the commercial and residential HVAC markets with a range of low efficiency through high-performing air filtration media. The Company acquired the assets and liabilities of PCC for $1.6 million in cash with additional cash payments of up to $2.0 million to be made based on the achievement of certain future financial targets through 2022. The assets and liabilities related to the acquisition of PCC have been included in the Company's Performance Materials reporting segment and in the Consolidated Balance Sheets at September 30, 2018. PCC had a minimal impact on the Company's sales and operating income for the quarter and nine months ended September 30, 2018.

Inventories

Inventories	9 Months Ended
	Sep. 30, 2018
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories as of September 30, 2018 and December 31, 2017 were as follows: In thousands September 30, December 31, Raw materials $ 41,182 $ 28,672 Work in process 21,630 29,427 Finished goods 29,067 23,901 91,879 82,000 Less: Progress billings — (1,661 ) Total inventories $ 91,879 $ 80,339 Included in work in process is gross tooling inventory of $5.2 million and $20.2 million at September 30, 2018 and December 31, 2017 , respectively. Tooling inventory, net of progress billings, was $18.5 million at December 31, 2017 . Effective January 1, 2018 the Company adopted ASC 606, Revenue from Contracts from Customers, under the modified retrospective transition method. The adoption of ASC 606 resulted in the reclassification of progress billings to contract liabilities. See Note 2, Revenue from Contracts with Customers, for further discussion of contract liabilities.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	9 Months Ended
	Sep. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets Goodwill: The Company tests its goodwill for impairment annually in the fourth quarter, and whenever events or changes in circumstances indicate that the carrying value may exceed its fair value. The changes in the carrying amount of goodwill by segment as of and for the nine months ended September 30, 2018 were as follows: December 31, Currency translation adjustments Additions September 30, 2018 In thousands Performance Materials $ 13,307 $ (142 ) $ 130,980 $ 144,145 Technical Nonwovens 55,662 (1,574 ) — 54,088 Total goodwill $ 68,969 $ (1,716 ) $ 130,980 $ 198,233 The additional goodwill of $131.0 million within the Performance Materials segment results from the two acquisitions completed in the third quarter of 2018. The Interface acquisition accounted for $130.5 million of the $131.0 million increase. The amount allocated to goodwill is reflective of the benefits the Company expects to realize from the expansion of the Company's engineered materials offering, new product development and Interface's assembled workforce. None of the goodwill associated with the Interface acquisition is expected to be deductible for income tax purposes. Other Intangible Assets: The table below presents the gross carrying amount and, as applicable, the accumulated amortization of the Company’s acquired intangible assets other than goodwill included in “Other intangible assets, net” in the Condensed Consolidated Balance Sheets as of September 30, 2018 and December 31, 2017 : September 30, 2018 December 31, 2017 In thousands Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Amortized intangible assets Customer Relationships $ 143,651 $ (8,538 ) $ 39,474 $ (4,460 ) Patents 4,376 (3,796 ) 4,504 (3,821 ) Technology 2,500 (769 ) 2,500 (644 ) Trade Names 7,368 (2,263 ) 4,288 (1,461 ) License Agreements 625 (625 ) 640 (640 ) Other 564 (423 ) 586 (423 ) Total amortized intangible assets $ 159,084 $ (16,414 ) $ 51,992 $ (11,449 ) In connection with the acquisition of Interface on August 31, 2018, the Company recorded intangible assets of $107.8 million , which included $104.6 million of customer relationships and $3.2 million of trade names. The average useful lives of the acquired assets were 13 years and 3 years, respectively.

Long-term Debt and Financing Ar

Long-term Debt and Financing Arrangements	9 Months Ended
	Sep. 30, 2018
Debt Disclosure [Abstract]
Long-term Debt and Financing Arrangements	Long-term Debt and Financing Arrangements On August 31, 2018, the Company amended and restated its $175 million senior secured revolving credit agreement ("Amended Credit Agreement") that increased the available borrowing from $175 million to $450 million , added three additional lenders and extended the maturity date from July 7, 2021 to August 31, 2023. Under the terms of the Amended Credit Agreement, the lenders are providing up to a $450 million credit facility (the “Facility”) to the Company, under which the lenders provided a term loan commitment of $200 million and revolving loans to or for the benefit of the Company and its subsidiaries of up to $250 million. The Facility may be increased by an aggregate amount not to exceed $150 million through an accordion feature, subject to specified conditions. The Facility is secured by substantially all of the assets of the Company. Interest is charged on borrowings at the Company’s option of either: (i) Base Rate plus the Applicable Rate, or (ii) the Eurodollar Rate plus the Applicable Rate. The Base Rate is a fluctuating rate equal to the highest of (a) the federal funds rate plus 0.50% , (b) the prime rate as set by Bank of America, and (c) the Eurocurrency Rate plus 1.00% . The Eurocurrency Rate means (i) if denominated in LIBOR quoted currency, a fluctuating LIBOR per annum rate equal to the London Interbank Offered Rate; (ii) if denominated in Canadian Dollars, the rate per annum equal to the Canadian Dollar Offered Rate; or (iii) the rate per annum as designated with respect to such alternative currency at the time such alternative currency is approved by the Lenders. The Applicable Rate is determined based on the Company’s Consolidated Leverage Ratio (as defined in the Amended Credit Agreement). The Applicable Rate added to the Base Rate Committed Loans ranges from 0.00% to 1.25% , and the Applicable Rate added to Eurocurrency Rate Committed Loans and Letters of Credit ranges from 0.75% to 2.00% . The Company pays a quarterly fee ranging from 0.15% to 0.275% on the unused portion of the revolving commitment. The Company is permitted to prepay term and revolving borrowings in whole or in part at any time without premium or penalty, subject to certain minimum payment requirements, and the Company is generally permitted to irrevocably cancel unutilized portions of the revolving commitments under the Amended Credit Agreement. The Company is required to repay the term commitment in an amount of $2.5 million per quarter beginning with the quarter ending December 31, 2018 through the quarter ending June 30, 2023. The Amended Credit Agreement contains covenants required of the Company and its subsidiaries, including various affirmative and negative financial and operational covenants. The Company is required to meet certain quarterly financial covenants calculated from the four fiscal quarters most recently ended, including: (i) a minimum consolidated fixed charge coverage ratio, which requires that at the end of each fiscal quarter the ratio of (a) consolidated EBITDA to (b) the sum of consolidated interest charges, redemptions, non-financed maintenance capital expenditures, restricted payments and taxes paid, each as defined in the Amended Credit Agreement, may not be lower than 1.25 to 1.0; and (ii) a consolidated net leverage ratio, which requires that at the end of each fiscal quarter the ratio of consolidated funded indebtedness minus consolidated domestic cash to consolidated EBITDA, as defined in the Amended Credit Agreement, may not be greater than 3.5 to 1.0. The Company was in compliance with all covenants at September 30, 2018 . In April 2017, the Company entered into a three -year interest rate swap agreement transacted with a bank which converts the interest on the first notional $60.0 million of the Company's one-month LIBOR-based borrowings from a variable rate, plus the borrowing spread, to a fixed rate of 1.58% plus the borrowing spread. The notional amount reduces quarterly by $5.0 million through March 31, 2020. The Company is accounting for the interest rate swap agreement as a cash flow hedge. Effectiveness of this derivative agreement is assessed quarterly by ensuring that the critical terms of the swap continue to match the critical terms of the hedged debt. At September 30, 2018 , the Company had borrowing availability of $108.1 million under the Facility, net of $338.0 million of borrowings outstanding and standby letters of credit outstanding of $3.9 million . The borrowings outstanding included a $200.0 million term loan, net of $0.5 million in debt issuance costs being amortized to interest expense over the debt maturity period. In addition to the amounts outstanding under the Facility, the Company has various acquired foreign credit facilities totaling approximately $8.4 million . At September 30, 2018 , the Company's foreign subsidiaries had $0.1 million in borrowings outstanding as well as $2.3 million in standby letters of credit outstanding. Total outstanding debt consists of: September 30, December 31, In thousands Effective Rate Maturity 2018 2017 Revolver Loan 3.87 % 8/31/2023 $ 138,000 $ 76,600 Term Loan, net of debt issuance costs 3.87 % 8/31/2023 199,471 — Capital Leases 1.65% - 2.09% 2019 - 2020 385 590 337,856 77,190 Less portion due within one year (10,182 ) (277 ) Total long-term debt, net of debt issuance costs $ 327,674 $ 76,913 The carrying value of the Company’s $450 million Facility approximates fair value given the variable rate nature of the debt. The fair values of the Company’s long-term debt are determined using discounted cash flows based upon the Company’s estimated current interest cost for similar type borrowings or current market value, which falls under Level 2 of the fair value hierarchy. The weighted average interest rate on long-term debt was 2.9% for the nine months ended September 30, 2018 and 2.2% for the year ended December 31, 2017 .

Derivatives

Derivatives	9 Months Ended
	Sep. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives	Derivatives The Company selectively uses financial instruments to manage market risk associated with exposure to fluctuations in interest rates. These financial exposures are monitored and managed by the Company as an integral part of its risk management program. The Company’s interest rate exposure is most sensitive to fluctuations in interest rates in the United States and Europe, which impact interest paid on its debt. The Company has debt with variable rates of interest based generally on LIBOR. From time to time, the Company enters into interest rate swap agreements to manage interest rate risk. These instruments are designated as cash flow hedges and are recorded at fair value using Level 2 observable market inputs. Derivative instruments are recognized as either assets or liabilities on the balance sheet in either current or non-current other assets or other accrued liabilities or other long-term liabilities depending upon maturity and commitment. For derivative instruments that are designated and qualify as a cash flow hedge, the effective portion of the gain or loss on the derivative is reported as a component of other comprehensive income and reclassified into earnings in the same period or periods in which the hedge transaction affects earnings. Any ineffective portion, or amounts related to contracts that are not designated as hedges, are recorded directly to earnings. The Company's policy for classifying cash flows from derivatives is to report the cash flows consistent with the underlying hedged item. The Company does not use derivatives for speculative or trading purposes. In April 2017, the Company entered into a three -year interest rate swap agreement transacted with a bank which converts the interest on the first notional $60.0 million of the Company's one-month LIBOR-based borrowings under its Amended Credit Facility from a variable rate, plus the borrowing spread, to a fixed rate of 1.58% plus the borrowing spread. The notional amount reduces quarterly by $5.0 million through March 31, 2020. The interest rate swap agreement was accounted for as cash flow hedge. Effectiveness of this derivative agreement is assessed quarterly by ensuring that the critical terms of the swap continue to match the critical terms of the hedged debt. The following table sets forth the fair value amounts of derivative instruments held by the Company: September 30, 2018 December 31, 2017 In thousands Asset Derivatives Liability Derivatives Asset Derivatives Liability Derivatives Derivatives designated as hedging instruments: Interest rate contract $ 272 $ — $ 157 $ — Total derivatives $ 272 $ — $ 157 $ — The following table sets forth the income recorded in accumulated other comprehensive income (loss), net of tax, for the quarters and nine months ended September 30, 2018 and 2017 for derivatives held by the Company and designated as hedging instruments: Quarter Ended Nine Months Ended 2018 2017 2018 2017 Cash flow hedges: Interest rate contract $ 14 $ 37 $ 89 $ (7 ) $ 14 37 $ 89 $ (7 )

Equity Compensation Plans

Equity Compensation Plans	9 Months Ended
	Sep. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Equity Compensation Plans	Equity Compensation Plans As of September 30, 2018 , the Company’s equity compensation plans consisted of the 2003 Stock Incentive Compensation Plan (the “2003 Plan”) and the 2012 Stock Incentive Plan (the “2012 Plan” and together with the 2003 Plan, the “Plans”) under which incentive and non-qualified stock options and time and performance based restricted shares have been granted to employees and directors from authorized but unissued shares of common stock or treasury shares. The 2003 Plan is not active, but continues to govern all outstanding awards granted under the plan until the awards themselves are exercised or terminate in accordance with their terms. The 2012 Plan, approved by shareholders on April 27, 2012, authorizes 1.75 million shares of common stock for awards. The 2012 Plan also authorizes an additional 1.2 million shares of common stock to the extent awards granted under prior stock plans that were outstanding as of April 27, 2012 are forfeited. The 2012 Plan provides for the following types of awards: options, restricted stock, restricted stock units and other stock-based awards. The Company accounts for the expense of all share-based compensation by measuring the awards at fair value on the date of grant. The Company recognizes expense on a straight-line basis over the vesting period of the entire award. Options issued by the Company under its stock option plans have a term of ten years and generally vest ratably over a period of three to four years. Time-based restricted stock grants are expensed over the vesting period of the award, which is typically two to four years. The number of performance based restricted shares that vest or forfeit depend upon achievement of certain targets during the performance period. The Company accounts for forfeitures as they occur. Compensation expense for performance based awards is recorded based upon the service period and management’s assessment of the probability of achieving the performance goals and will be adjusted based upon actual achievement. The Company incurred equity compensation expense of $0.6 million and $1.0 million for the quarters ended September 30, 2018 and September 30, 2017 , respectively, and $3.2 million for each of the nine months ended September 30, 2018 and September 30, 2017 ., for the Plans, including restricted stock awards. No equity compensation costs were capitalized as part of inventory. Stock Options The following table is a summary of outstanding and exercisable options as of September 30, 2018 : In thousands except per share amounts Shares Weighted- Average Exercise Price Aggregate Intrinsic Value Outstanding at September 30, 2018 398 $ 35.57 $ 4,688 Exercisable at September 30, 2018 188 $ 23.18 $ 3,944 Unvested at September 30, 2018 210 $ 46.64 $ 744 There were no stock options granted and 19,250 stock options exercised during the quarter ended September 30, 2018 . There were 11,180 stock options granted and 46,291 stock options exercised during the nine months ended September 30, 2018 . The amount of cash received from the exercise of stock options was $ 0.2 million during the quarter ended September 30, 2018 . The amount of cash received from the exercise of stock options was $0.8 million during the nine months ended September 30, 2018 . The intrinsic value of stock options exercised was $0.6 million with a tax benefit of $0.1 million during the quarter ended September 30, 2018 . The intrinsic value of stock options exercised was $1.3 million with a tax benefit of $0.3 million during the nine months ended September 30, 2018 . There were no stock options granted and 6,170 stock options exercised during the quarter ended September 30, 2017 and no stock options granted and 34,634 stock options exercised during the nine months ended September 30, 2017 . The amount of cash received from the exercise of stock options was $0.1 million during the quarter ended September 30, 2017 and $0.4 million during the nine months ended September 30, 2017 . The intrinsic value of stock options exercised was $0.2 million with a tax benefit of $0.1 million during the quarter ended September 30, 2017 and the intrinsic value of stock options exercised was $1.4 million with a tax benefit of $0.4 million during the nine months ended September 30, 2017 . At September 30, 2018 , the total unrecognized compensation cost related to non-vested stock option awards was approximately $2.6 million , with a weighted average expected amortization period of 2.6 years . Restricted Stock Restricted stock includes both performance-based and time-based awards. There were 10,790 time-based restricted stock shares granted during the quarter ended September 30, 2018 and 18,896 time-based restricted stock shares granted during the nine months ended September 30, 2018 . There were no performance-based restricted shares granted during the quarter ended September 30, 2018 and 15,190 performance-based restricted shares granted during the nine months ended September 30, 2018 . There were no performance-based restricted shares that vested during the quarter ended September 30, 2018 and 48,035 performance-based restricted shares that vested during nine months ended September 30, 2018 , in accordance with plan provisions. There were 14,570 time-based restricted shares that vested during the quarter ended September 30, 2018 and 19,734 time-based restricted shares that vested during nine months ended September 30, 2018 . There were no time-based restricted stock shares granted during the quarter and nine month period ended September 30, 2017 . There were no performance-based restricted shares granted during the quarter ended September 30, 2017 and 18,100 performance-based restricted shares granted for the nine months ended September 30, 2017 . There were no performance-based restricted shares that vested during the quarter ended September 30, 2017 and 108,600 performance-based restricted shares that vested during the nine months ended September 30, 2017 in accordance with plan provisions. There were 6,000 time-based restricted shares that vested during the quarter ended September 30, 2017 and 15,288 time-based restricted shares that vested during the nine months ended September 30, 2017 . At September 30, 2018 , there were 179,772 unvested restricted stock awards with total unrecognized compensation cost related to these awards of $4.3 million with a weighted average expected amortization period of 1.9 years . Compensation expense for performance based awards is recorded based on the service period and management’s assessment of the probability of achieving the performance goals.

Stock Repurchases

Stock Repurchases	9 Months Ended
	Sep. 30, 2018
Equity [Abstract]
Stock Repurchases	Stock Repurchases During the nine months ended September 30, 2018 , the Company purchased 20,726 shares of common stock valued at $0.9 million , through withholding, pursuant to provisions in agreements with recipients of restricted stock granted under the Company’s equity compensation plans, in which the Company withholds that number of shares having fair value equal to each recipient’s minimum tax withholding due.

Restructuring

Restructuring	9 Months Ended
	Sep. 30, 2018
Restructuring and Related Activities [Abstract]
Restructuring	Restructuring In April 2017, the Company commenced a restructuring plan in the Technical Nonwovens segment which includes plant consolidations and transfer of equipment to other facilities within the segment's Europe and China operations. The consolidation of certain plants, which is expected to conclude in 2019, is expected to reduce operating costs, increase efficiency and enhance the Company’s flexibility by better aligning its manufacturing footprint with the segment's customer base. Accordingly, the Company expects to record total pre-tax expenses of approximately $5.0 million , in connection with this restructuring plan, of which approximately $4.8 million is expected to result in cash expenditures over the period of consolidation. The Company also expects to incur cash expenditures of approximately $3.5 million for capital expenditures associated with this plan. During the quarter ended September 30, 2018 , the Company recorded pre-tax restructuring expenses of $0.5 million . Restructuring expenses of $0.4 million , primarily related to equipment move costs, were recorded in cost of sales and $0.1 million of severance costs were recorded in selling, product development and administrative expenses. During the nine months ended September 30, 2018, the Company recorded pre-tax restructuring expenses of $1.9 million as part of this restructuring plan. Restructuring expenses of $1.7 million , primarily related to equipment move costs and severance, were recorded in cost of sales and $0.2 million of severance and engineering costs were recorded in selling, product development and administrative expenses during the nine months ended September 30, 2018. The Company expects to record approximately $0.6 million of restructuring expenses in the fourth quarter of 2018 and $2.5 million for the year ending December 31, 2018. Actual pre-tax expenses incurred and total estimated pre-tax expenses for the restructuring program by type are as follows: In thousands Severance and Related Expenses Contract Termination Expenses Facility Exit, Move and Set-up Expenses Total Total estimated expenses $ 1,200 $ 300 $ 3,500 $ 5,000 Expenses incurred through December 31, 2017 181 154 327 662 Estimated remaining expense at December 31, 2017 $ 1,019 $ 146 $ 3,173 $ 4,338 Expense incurred during quarter ended: March 31, 2018 $ 315 $ — $ 219 $ 534 June 30, 2018 185 — 700 885 September 30, 2018 105 — 414 519 Total pre-tax expense incurred $ 786 $ 154 $ 1,660 $ 2,600 Estimated remaining expense at September 30, 2018 $ 414 $ 146 $ 1,840 $ 2,400 There were cash outflows of $0.6 million and $1.4 million for the restructuring program for the quarter and nine months ended September 30, 2018 , respectively. Accrued restructuring costs were as follows at September 30, 2018 : In thousands Total Balance as of December 31, 2017 $ 333 Pre-tax restructuring expenses, excluding depreciation 1,768 Cash paid (1,407 ) Balance as of September 30, 2018 $ 694

Employer Sponsored Benefit Plan

Employer Sponsored Benefit Plans	9 Months Ended
	Sep. 30, 2018
Retirement Benefits [Abstract]
Employer Sponsored Benefit Plans	Employer Sponsored Benefit Plans As of September 30, 2018 , the Company maintains a defined benefit pension plan that covers certain domestic Lydall employees (“Lydall Pension Plan”) that is closed to new employees and benefits are no longer accruing. The Lydall Pension Plan is noncontributory and benefits are based on either years of service or eligible compensation paid while a participant is in the plan. The Company’s funding policy is to fund not less than the ERISA minimum funding standard and not more than the maximum amount that can be deducted for federal income tax purposes. Contributions of $3.0 million and $7.2 million were made during the quarter and nine months ended September 30, 2018 , respectively. No further contributions are expected to the Lydall Pension Plan for the remainder of 2018. Contributions of $1.2 million and $3.6 million were made during the quarter and nine months ended September 30, 2017 , respectively. On August 31, 2018, the Company acquired the Interface business, and as part of this transaction the Company acquired two domestic pension plans ("Interface Pension Plans") and a multi-employer plan. The Interface Pension Plans cover Interface's union and non-union employees, the plans are closed to new employees and benefits are no longer accruing for the majority of participants. Certain union employees of Interface business participate in a multi-employer pension plan. Contributions to this multi-employer plan are required to be made monthly based upon the total monthly hours worked by the covered employees multiplied by the employer contribution rate published by the fund. Total contributions related to the multi-employer plan from the date of acquisition through September 30, 2018 were immaterial. As of the acquisition date, the Company remeasured the fair value of plan liabilities and funded status of the plans. An underfunded liability of $11.2 million was included in benefit plan liabilities within the Company’s Condensed Consolidated Balance Sheets . The Company made no contributions into the Interface Pension Plans for the quarter ended September 30, 2018. The Company expects to make a required contribution of approximately $0.3 million to the Interface Pension Plans during the fourth quarter of 2018. The Company also acquired Interface's domestic post-retirement benefit plan and recorded a liability of $4.1 million and German pension plans and recorded a liability of $2.9 million included in benefit plan liabilities within the Company’s Condensed Consolidated Balance Sheets . The Interface post-retirement benefits include life insurance and medical benefits for certain domestic employees and these plans are closed to new employees. The Company acquired a German noncontributory plan closed to new employees and also participates in a government program. As of January 1, 2018 the Company adopted ASU No. 2017-07, "Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost". This ASU required the other components of net benefit cost, which includes interest costs, expected return on plan assets, and amortization of actuarial loss be presented in the income statement outside a subtotal of income from operations for the quarter and nine months ended September 30, 2018 . The retrospective adoption of this ASU resulted in the reclassification of net benefit costs of $0.1 million from cost of sales and $0.1 million from the selling, product development and administrative expenses to the other expense, net line in the Consolidated Statement of Operations for the quarter ended September 30, 2017 . Net benefit costs of $0.2 million from cost of sales and $0.4 million from the selling, product development and administrative expenses were reclassified to the other expense, net line in the Consolidated Statement of Operations for the nine months ended September 30, 2017 . The following is a summary of the components of net periodic benefit cost for the Lydall and acquired Interface Pension Plans: Quarter Ended Nine Months Ended In thousands 2018 2017 2018 2017 Components of net periodic benefit cost Service Cost $ 12 $ — $ 12 $ — Interest cost 640 514 1,579 1,543 Expected return on assets (893 ) (594 ) (2,193 ) (1,782 ) Amortization of actuarial loss 256 273 768 819 Net periodic benefit cost $ 15 $ 193 $ 166 $ 580

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2018
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes On December 22, 2017, the United States enacted significant changes to U.S. tax law following the passage and signing of the Tax Cuts and Jobs Act (the "Tax Reform Act"). The Company has followed guidance in Staff Accounting Bulletin No.118 ("SAB 118"), which provides a measurement period, not to exceed one year from the enactment of the Tax Reform Act, and recorded provisional items related to the one-time mandatory repatriation of foreign earnings and the revaluation of deferred tax assets and liabilities for the year ended December 31, 2017. For the quarter ended September 30, 2018, the Company continued to perform analysis and evaluate interpretations and additional regulatory guidance. As a result of this analysis, the Company recorded an expense to adjust the provisional one-time mandatory repatriation of foreign earnings tax of $0.7 million during the third quarter of 2018. All items related to tax reform remain provisional and no items were deemed complete. The Company’s effective tax rate was 25.1% and 24.2% for the quarters ended September 30, 2018 and 2017, respectively, and 17.5% and 24% for the nine months ended September 30, 2018 and 2017, respectively. The Company's effective tax rate for the three months ended September 30, 2018 was primarily driven by the reduction of the U.S. corporate tax rate from 35% to 21% under the Tax Reform Act and a tax benefit from a valuation allowance release, partially offset by the adjustment to the provisional one-time mandatory repatriation of foreign earnings tax and non-deductible transaction costs as a result of the Interface Performance Materials acquisition. The Company's effective tax rate for the quarter ended September 30, 2017 was primarily driven by a net tax benefit of $1.4 million from the completion of a tax audit in the third quarter of 2017. The decrease in the Company's effective tax rate for the nine months ended September 30, 2018 compared to September 30, 2017 was primarily related to the reduction of the U.S. corporate tax rate from 35% to 21% under the Tax Reform Act, offset by the adjustment to the provisional one-time mandatory repatriation of foreign earnings tax of $0.7 million , lower tax benefits from stock vesting and the absence a net tax benefit of $1.4 million from the completion of a tax audit in the third quarter of 2017. The Company and its subsidiaries file a consolidated federal income tax return, as well as returns required by various state and foreign jurisdictions. In the normal course of business, the Company is subject to examination by taxing authorities, including such major jurisdictions as the United States, France, Germany, China, the United Kingdom, Canada and the Netherlands. With few exceptions, the Company is no longer subject to U.S. federal examinations for years before 2015, state and local examinations for years before 2013, and non-U.S. income tax examinations for years before 2003. The Company’s effective tax rates in future periods could be affected by an increase or decrease in earnings in countries where tax rates differ from the United States federal tax rate, the relative impact of permanent tax adjustments on earnings from domestic operations, changes in net deferred tax asset valuation allowances, stock vesting, the completion of acquisitions or divestitures, changes in tax rates or tax laws and the completion of tax projects and audits.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2018
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share For the quarters and nine months ended September 30, 2018 and 2017 , basic earnings per share were computed by dividing net income by the weighted average number of shares of common stock outstanding during the period. Unexercised stock options and unvested restricted shares are excluded from this calculation but are included in the diluted earnings per share calculation using the treasury stock method as long as their effect is not antidilutive. The following table provides a reconciliation of weighted-average shares used to determine basic and diluted earnings per share: Quarter Ended Nine Months Ended In thousands 2018 2017 2018 2017 Basic average common shares outstanding 17,216 17,055 17,189 17,028 Effect of dilutive options and restricted stock awards 133 212 150 242 Diluted average common shares outstanding 17,349 17,267 17,339 17,270 For each of the quarters ended September 30, 2018 and 2017 , stock options for 162,830 shares and 38,280 shares of Common Stock were not considered in computing diluted earnings per common share because they were antidilutive. For each of the nine months ended September 30, 2018 and 2017 , stock options for 150,005 shares and 38,280 shares of Common Stock were not considered in computing diluted earnings per common share because they were antidilutive.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2018
Segment Reporting [Abstract]
Segment Information	Segment Information As of September 30, 2018 , the Company’s reportable segments are Performance Materials, Technical Nonwovens, and Thermal Acoustical Solutions. On July 12, 2018, the Company acquired certain assets and assumed certain liabilities the Precision Filtration division of Precision Custom Coatings ("PCC") based in Totowa, NJ. Precision Filtration is a producer of high-quality, air filtration media principally serving the commercial and residential HVAC markets with products in the efficiency range of MERV 7-11. The acquired business is included in the Company’s Performance Materials operating segment. On August 31, 2018, the Company acquired an engineered sealing materials business operating under Interface Performance Materials ("Interface"), based in Lancaster, Pennsylvania. A globally-recognized leader in the delivery of engineered sealing solutions, the Interface operations manufacture wet-laid gasket and specialty materials primarily serving OEM and Tier I manufacturers in the agriculture, construction, earthmoving, industrial, and automotive segments. The acquired business is included in the Company's Performance Materials operating segment. Effective September 30, 2018, as a result of the Interface acquisition, the Performance Materials segment changed the disaggregation of revenue at the product level to be categorized as "Filtration" and "Sealing and Advanced Solutions". Effective January 1, 2018, the Thermal/Acoustical Metals and Thermal/Acoustical Fibers operating segments were combined into a single operating segment named Thermal Acoustical Solutions. These automotive segments were combined into one segment to allow the Company to better serve its customers, leverage operating disciplines and drive efficiencies across the global automotive operations. Prior period segment amounts throughout the Notes to the Condensed Consolidated Financial Statements have been recast to reflect the results of the new segment structure. The recast of historical business segment information had no impact on the consolidated financial results. Performance Materials Segment The Performance Materials segment includes filtration media solutions primarily for air, fluid power, life science and industrial applications (“Filtration”), and gasket and sealing solutions, thermal insulation, energy storage, and other engineered products (“Sealing and Advanced Solutions”). Filtration products include LydAir® MG (Micro-Glass) Air Filtration Media, LydAir® MB (Melt Blown) Air Filtration Media, LydAir® SC (Synthetic Composite) Air Filtration Media, and Arioso® Membrane Composite Media. These products constitute the critical media component of clean-air systems for applications in clean-space, commercial, industrial and residential HVAC, power generation, respiratory protection, and industrial processes. Lydall has leveraged its extensive technical expertise and applications knowledge into a suite of media products covering the vast liquid filtration landscape across the engine and industrial fields. The LyPore® Liquid Filtration Media series address a variety of application needs in fluid power including hydraulic filters, air-water and air-oil coalescing, industrial fluid processes and diesel fuel filtration. LyPore® media and Solupor® ultra-high molecular weight polyethylene membranes also serve critical liquid filtration/separation applications such as biopharmaceutical pre-filtration and clarification, lateral flow diagnostic and analytical testing, potable water filtration and high purity process filtration such as those found in food and beverage and medical applications. Sealing and Advanced Solutions includes nonwoven specialty engineered materials for a myriad of applications. Fiber-reinforced gasket materials serve the heavy-duty diesel, automobile, small engine, transmission and compressor markets, providing sealing solutions for demanding applications, including Select-a-Seal® rubber edged composite (REC) technology that provides robust sealing, compression, adhesion, and shear strength for driveline applications. High performance insulating materials include nonwoven veils, papers and specialty composites for the building products, appliance, energy and industrial markets including Manniglas® Thermal Insulation Papers, and Lytherm® Insulation Media for high temperature technology applications. Lydall’s Cryotherm® Super-Insulating Media, CRS-Wrap® Super-Insulating Media and Cryo-Lite® Cryogenic Insulation products are industry standards for state-of-the-art cryogenic insulation designs used by manufacturers of cryogenic equipment for liquid gas storage, piping, and transportation. Additional Specialty Composite Materials include calendar bowl products to service the printing and textile industries and press pad materials for industrial lamination processes. Technical Nonwovens Segment The Technical Nonwovens segment primarily produces needle punch nonwoven solutions for a myriad of industries and applications. Products are manufactured and sold globally under the leading brands of Lydall Industrial Filtration, Southern Felt, Gutsche, and Texel. Industrial Filtration products include nonwoven rolled-good felt media and filter bags used primarily in industrial air and liquid filtration applications. Nonwoven filter media is the most effective solution to satisfy increasing emission control regulations in a wide range of industries, including power, cement, steel, asphalt, incineration, mining, food, and pharmaceutical. Advanced Materials products include nonwoven rolled-good media used in commercial applications and predominantly serves the geosynthetics, automotive, industrial, medical, and safety apparel markets. Automotive media is provided to Tier I/II suppliers as well as the Company's Thermal Acoustical Solutions segment. Technical Nonwovens segment products include air and liquid filtration media sold under the brand names Fiberlox® high performance filtration felts, Checkstatic™ conductive filtration felts, Microfelt® high efficiency filtration felts, Pleatlox® pleatable filtration felts, Ultratech™ PTFE filtration felts, Powertech® and Powerlox® power generation filtration felts, Microcap® high efficiency liquid filtration felts, Duotech membrane composite filtration felts, along with our porotex® family of high temperature filtration felts including microvel® and optivel® products. Technical Nonwovens Advanced Materials products are sold under the brand names Thermofit® thermo-formable products, Ecoduo® recycled content materials, Duotex® floor protection products, and Versaflex® composite molding materials. Technical Nonwovens also offers extensive finishing and coating capabilities which provide custom engineered properties tailored to meet the most demanding applications. The business leverages a wide range of fiber types and extensive technical capabilities to provide products that meet our customers’ needs across a variety of applications providing both high performance and durability. Thermal Acoustical Solutions Segment The Thermal Acoustical Solutions segment offers a full range of innovative engineered products tailored for the transportation and industrial sectors to thermally shield sensitive components from high heat, improve exhaust gas treatment and lower harmful emissions as well as assist in the reduction of noise, vibration and harshness (NVH). Within the transportation sector, Lydall’s products are found in the interior (dash insulators, cabin flooring), underbody (wheel well, aerodynamic belly pan, fuel tank, exhaust, tunnel, spare tire) and under hood (engine compartment, outer dash, powertrain, catalytic converter, turbo charger, manifolds) of cars, trucks, SUVs, heavy duty trucks and recreational vehicles. Thermal Acoustical Solutions segment products offer thermal and acoustical insulating solutions comprised of organic and inorganic fiber composites that provide weight reduction, superior noise suppression and increased durability over conventional designs, as well as products that efficiently combine multiple layers of metal and thermal - acoustical insulation media to provide an engineered shielding solution for an array of application areas. Lydall’s dBCore® is a lightweight acoustical composite that emphasizes absorption principles over heavy-mass type systems. Lydall’s dBLyte® is a high-performance acoustical barrier with sound absorption and blocking properties and can be used throughout a vehicle’s interior to minimize intrusive noise from an engine compartment and road. Lydall’s ZeroClearance® is an innovative thermal solution that utilizes an adhesive backing for attachment and is used to protect vehicle components from excessive heat. Lydall’s flux® product family includes several patented or IP-rich products that address applications which include: Direct Exhaust Mount heat shields, which are assembled to high temperature components like catalytic converters, turbochargers or exhaust manifolds using aluminized and stainless steel and high performance and high temperature heat insulating materials; Powertrain heat shields that absorb noise at the source and do not contribute to the engine's noise budget; and durable, thermally robust solutions for temperature sensitive plastic components such as fuel tanks that are in proximity to high temperature heat sources. The tables below present net sales and operating income by segment for the quarters and nine months ended September 30, 2018 and 2017 , and also a reconciliation of total segment net sales and operating income to total consolidated net sales and operating income. Consolidated net sales by segment: Quarter Ended Nine Months Ended In thousands 2018 2017 2018 2017 Performance Materials Segment (1) : Filtration $ 22,643 $ 22,263 $ 68,846 $ 65,483 Sealing and Advanced Solutions 19,077 7,284 34,801 22,116 Performance Materials Segment net sales 41,720 29,547 103,647 87,599 Technical Nonwovens Segment: Industrial Filtration 40,945 38,346 120,346 108,884 Advanced Materials (2) 32,126 34,960 91,978 90,438 Technical Nonwovens net sales 73,071 73,306 212,324 199,322 Thermal Acoustical Solutions Segment: Parts 77,723 75,195 248,764 237,657 Tooling 10,488 9,181 31,053 17,505 Thermal Acoustical Solutions Segment net sales 88,211 84,376 279,817 255,162 Eliminations and Other (2) (5,116 ) (7,188 ) (19,829 ) (21,676 ) Consolidated Net Sales $ 197,886 $ 180,041 $ 575,959 $ 520,407 Operating income by segment: Quarter Ended Nine Months Ended In thousands 2018 2017 (3) 2018 2017 (3) Performance Materials (1) $ 1,753 $ 3,133 $ 8,043 $ 8,725 Technical Nonwovens 6,271 8,589 17,395 19,792 Thermal Acoustical Solutions 7,923 10,607 29,357 40,798 Corporate Office Expenses (6,214 ) (6,975 ) (18,777 ) (18,775 ) Consolidated Operating Income $ 9,733 $ 15,354 $ 36,018 $ 50,540 (1) The Performance Materials segment reports the results of Interface and PCC for the period following the date of acquisitions of August 31, 2018 and July 12, 2018, respectively. (2) Included in the Technical Nonwovens segment and Eliminations and Other is $4.3 million and $6.5 million in intercompany sales to the Thermal Acoustical Solutions segment for the quarters ended September 30, 2018 and 2017 , respectively, and $17.2 million and $19.5 million for the nine months ended September 30, 2018 and 2017 , respectively. (3) The quarter and nine months ended September 30, 2017 segment operating income amounts of $0.2 million and $0.6 million , respectively, have been reclassified to other expense (income), net, to give effect to the adoption of ASU No. 2017-07, "Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost".

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Environmental Remediation The Company elected to remediate environmental contamination discovered prior to the closing of the Texel acquisition in 2016 at a certain property in the province of Quebec, Canada (“the Property”) that was acquired by Lydall. The Company records accruals for environmental costs when such losses are probable and reasonably estimable. In 2016, the Company, through the engagement of a third-party environmental service firm, determined the final scope and timing of the remediation project and estimated the cost of the remediation project to range between $0.9 million and $1.5 million , which was further refined in July of 2017 to the top end of this range at $1.5 million and remains as the Company's best estimate as of September 30, 2018. During 2017, the environmental liability was reduced by $0.7 million , reflecting payments made to vendors, resulting in a balance of $0.8 million at December 31, 2017. During the nine months ended September 30, 2018, the environmental liability was further reduced by $0.6 million , reflecting payments to vendors. The remaining balance for the environmental liability of $0.2 million (which remains fully offset as described below) is included within other long-term liabilities on the Company's balance sheet at September 30, 2018. Pursuant to the Share Purchase Agreement, ADS, Inc. ("ADS") has agreed to indemnify the Company from all costs and liabilities associated with the contamination and remediation work, including the costs of preparation and approval of the remediation plan and other reports in relation therewith. This indemnity was secured by an environmental escrow account, which was established in the amount of $3.0 million Canadian Dollars (approximately $2.3 million U.S. Dollars as of September 30, 2018). As of September 30, 2018, for any costs and liabilities that exceeded the environmental escrow amount, the Company had access to the general indemnity escrow account, which was originally established in the amount of $14.0 million Canadian Dollars (approximately $10.8 million U.S. Dollars as of September 30, 2018). Based on the Share Purchase Agreement, the general indemnity escrow account was initially reduced to approximately $7.0 million Canadian Dollars (approximately $5.4 million U.S. Dollars as of September 30, 2018) on the first anniversary date of the closing date and then liquidated, in full on or about the second anniversary date of the closing date (i.e., July 9, 2018). Based on the foregoing, an indemnification asset of $0.9 million was also recorded in other assets at December 31, 2016, and subsequently increased to $1.5 million in July of 2017, as the Company believed, and still believes collection from ADS is probable. The indemnification asset was decreased by $0.7 million , reflecting indemnification from ADS for payments made by the Company to its vendors during 2017. During the nine months ended September 30, 2018, the indemnification asset was further reduced by $0.6 million , reflecting indemnification from ADS for payments made by the Company to its vendors The resulting indemnification asset balance was $0.2 million at September 30, 2018. The accrual for remediation costs will be adjusted as further information develops, estimates change and payments to vendors are made for remediation, with an off-setting adjustment to the indemnification asset from ADS if collection is deemed probable. In the fourth quarter of 2016, as part of a groundwater discharging permitting process, water samples collected from wells and process water basins at the Company’s Rochester New Hampshire manufacturing facility, within the Performance Materials segment, showed concentrations of Perfluorinated Compounds (“PFCs”) in excess of state ambient groundwater quality standards. In January 2017, the Company received a notification from the State of New Hampshire Department of Environmental Services (“NHDES”) naming Lydall Performance Materials, Inc. a responsible party with respect to the discharge of regulated contaminants and, as such, is required to take action to investigate and remediate the impacts in accordance with standards established by the NHDES. The Company conducted a site investigation, the scope of which was reviewed by the NHDES, in order to assess the extent of potential soil and groundwater contamination and develop a remedial action. Based on input received from NHDES in March 2017 with regard to the scope of the site investigation, the Company recorded $0.2 million of expense in the first quarter of 2017 associated with the expected costs of conducting this site investigation. In the fourth quarter of 2017, the Company completed its state-approved site investigation report and submitted it to the NHDES. During the year ended December 31, 2017, the environmental liability of $0.2 million was reduced by $0.2 million reflecting payments made to vendors, resulting in no balance at December 31, 2017. In the first quarter of 2018, the Company received a response from the NHDES to the site investigation report outlining proposed remedial actions. The Company recorded $0.1 million of expense in the first quarter of 2018 associated with the expected costs to remediate the impacts of the discharge of regulated contaminants in accordance with standards established by the NHDES. In May of 2018, the Company met with the NHDES to finalize the proposed remedial actions from the site investigation report. The Company recorded a minimal incremental amount in the second quarter of 2018 associated with the cost of the proposed remedial actions resulting in an environmental liability of $0.1 million at June 30, 2018. During the quarter ended September 30, 2018, the environmental liability was reduced by $0.1 million reflecting payments made to vendors, resulting in no balance at September 30, 2018. Additionally, the Company incurred $0.2 million of capital expenditures in 2018, in relation to the lining of the Company's fresh water waste lagoons. The site investigation is ongoing. The Company cannot be sure that costs will not exceed the current estimates until this matter is closed with the NHDES, nor that any future corrective action at this location would not have a material effect on the Company’s financial condition, results of operations or liquidity. Provisions for such matters are charged to expense when it is probable that a liability has been incurred and reasonable estimates of the liability can be made. Estimates of environmental liabilities are based on a variety of matters, including, but not limited to, the stage of investigation, the stage of the remedial design, evaluation of existing remediation technologies, and presently enacted laws and regulations. In future periods, a number of factors could significantly impact any estimates of environmental remediation costs.

Changes in Accumulated Other Co

Changes in Accumulated Other Comprehensive Income (Loss)	9 Months Ended
	Sep. 30, 2018
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Changes in Accumulated Other Comprehensive Income (Loss)	Changes in Accumulated Other Comprehensive Income (Loss) The following table discloses the changes by classification within accumulated other comprehensive income (loss) for the nine months ended September 30, 2018 and 2017 : In thousands Foreign Currency Translation Adjustment Defined Benefit Pension Adjustment Gains and Losses on Cash Flow Hedges Total Accumulated Other Comprehensive (Loss) Income Balance at December 31, 2016 $ (27,885 ) $ (20,065 ) $ — $ (47,950 ) Other comprehensive income (loss) 23,951 — (7 ) (b) 23,944 Amounts reclassified from accumulated other comprehensive loss — 516 (a) — 516 Balance at September 30, 2017 (3,934 ) (19,549 ) (7 ) (23,490 ) Balance at December 31, 2017 (2,221 ) (18,049 ) 122 (20,148 ) Other comprehensive (loss) income (9,262 ) — 89 (b) (9,173 ) Amounts reclassified from accumulated other comprehensive loss — 595 (a) — 595 Balance at September 30, 2018 $ (11,483 ) $ (17,454 ) $ 211 $ (28,726 ) (a) Amount represents amortization of actuarial losses, a component of net periodic benefit cost. This amount was $0.6 million , net of $0.2 million tax benefit, and $0.5 million , net of $0.3 million tax benefit, for the nine months ended September 30, 2018 and 2017 , respectively. (b) Amount represents unrealized gains on the fair value of hedging activities, net of taxes, for the nine months ended September 30, 2018 and 2017 .

Basis of Financial Statement _2

Basis of Financial Statement Presentation (Policies)	9 Months Ended
	Sep. 30, 2018
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying Condensed Consolidated Financial Statements include the accounts of Lydall, Inc. and its subsidiaries. All financial information is unaudited for the interim periods reported. All significant intercompany transactions have been eliminated in the Condensed Consolidated Financial Statements. The Condensed Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The year-end Condensed Consolidated Balance Sheet was derived from the December 31, 2017 audited financial statements, but does not include all disclosures required by U.S. GAAP. Management believes that all adjustments, which include only normal recurring adjustments necessary for a fair statement of the Company’s condensed consolidated financial position, results of operations and cash flows for the periods reported, have been included. For further information, refer to the audited consolidated financial statements and accompanying notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017 .
Recent Accounting Pronouncements	Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board ("FASB") issued ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606)”. The amended guidance establishes a single comprehensive model for companies to use in accounting for revenue arising from contracts with customers and will supersede most of the existing revenue recognition guidance, including industry-specific guidance. The amended guidance clarifies that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In applying the amended guidance, an entity will (1) identify the contract(s) with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the contract’s performance obligations; and (5) recognize revenue when (or as) the entity satisfies a performance obligation. ASC 606 is effective for the Company’s interim and annual reporting periods beginning January 1, 2018, and is to be adopted using either a full retrospective or modified retrospective transition method. The Company adopted the amended guidance and all related amendments using the modified retrospective approach on January 1, 2018, at which time it became effective for the Company. The Company recognized the cumulative effect of initially applying the new revenue standard to all contracts that were not completed on the date of adoption as an adjustment to the opening balance of retained earnings. (See Note 2. “Revenue from Contracts with Customers”). At the adoption date, the cumulative impact of revenue that would have been recognized over time, was $19.6 million . The impact was primarily driven by tooling net sales of $16.3 million from customer contracts within the Thermal Acoustical Solutions ("TAS") segment. The related adoption impact to retained earnings was $1.6 million , net of tax. Refer to Note 2. In January 2016, the FASB issued ASU No. 2016-01, "Financial Instruments - Overall" (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities". This ASU revises an entity’s accounting related to (1) the classification and measurement of investments in equity securities and (2) the presentation of certain fair value changes for financial liabilities measured at fair value. It also amends certain disclosure requirements associated with the fair value of financial instruments. This ASU is effective for fiscal years beginning after December 15, 2017. In February 2018, the FASB issued ASU 2018-03, "Technical Corrections and Improvements to Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities", which clarifies various aspects of the guidance issued in ASU 2016-01. The adoption of these amendments is not required for public business entities with fiscal years beginning between December 15, 2017 and June 15, 2018 until the interim period beginning after June 15, 2018, however early adoption is permitted. The Company adopted both ASUs effective January 1, 2018. The adoption of these ASUs did not have any impact on the Company’s consolidated financial statements and disclosures. In August 2016, the FASB issued ASU No. 2016-15, "Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments", which provides guidance on eight specific cash flow classification issues. Prior to this ASU, GAAP did not include specific guidance on these eight cash flow classification issues. This ASU is effective for fiscal years beginning after December 15, 2017, with early adoption permitted. The adoption of this ASU did not have any impact on the Company’s consolidated financial statements and disclosures. In October 2016, the FASB issued ASU 2016-16, “Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory” as part of the Board’s initiative to reduce complexity in accounting standards. This ASU eliminates an exception in ASC 740, which prohibits the immediate recognition of income tax consequences of intra-entity asset transfers other than inventory. This ASU requires entities to recognize the immediate current and deferred income tax effects of intra-entity asset transfers. This ASU is effective for fiscal years beginning after December 15, 2017, with early adoption permitted. The adoption of this ASU did not have any impact on the Company’s consolidated financial statements and disclosures. In November 2016, the FASB issued ASU No. 2016-18, "Statement of Cash Flows (Topic 230): Restricted Cash", which clarifies guidance and presentation related to restricted cash in the statement of cash flows, including stating that restricted cash should be included within cash and cash equivalents on the statement of cash flows. The ASU was effective for fiscal years beginning after December 15, 2017, with early adoption permitted. The Company adopted this ASU effective January 1, 2018. The adoption of this ASU did not have any impact on the Company’s consolidated financial statements and disclosures. In January 2017, the FASB issued ASU No. 2017-01, "Business Combinations (Topic 805): Clarifying the Definition of a Business", which adds guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The definition of a business affects many areas of accounting including acquisitions, disposals, goodwill, and consolidation. The amendments of this ASU provide a screen to determine when an integrated set of assets and activities is not a business. This ASU was effective for fiscal years beginning after December 15, 2017. The Company evaluated this ASU in connection with its third quarter 2018 transactions and determined both to meet the definition of a business. In March 2017, the FASB issued ASU No. 2017-07, "Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost". This ASU requires an entity to report the service cost component of net benefit costs in the same line item(s) as other compensation costs arising from services rendered by the pertinent employees during the period. This ASU also requires the other components of net benefit cost, which includes interest costs and actual return on plan assets to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations. This ASU was effective for fiscal year beginning after December 15, 2017. As required for retrospective adoption, the Company reclassified net benefit costs of $0.1 million from cost of sales and $0.1 million from the selling, product development and administrative expenses to other expense, net, in the Consolidated Statement of Operations for the quarter ended September 30, 2017 . The Company reclassified net benefit costs of $0.2 million from cost of sales and $0.4 million from the selling, product development and administrative expenses to other expense, net, in the Consolidated Statement of Operations for the nine months ended September 30, 2017 . The adoption of this ASU had minimal impact on the Company's consolidated financial statements and disclosures for the quarter and nine months ended September 30, 2018 . In May 2017, the FASB issued ASU No. 2017-09, "Compensation - Stock Compensation (Topic 718): Scope of Modification Accounting". This ASU requires an entity to apply modification accounting in Topic 718 when there are changes to the terms or conditions of a share-based payment award, unless the fair value, vesting conditions, and classification of the modified award are the same as the original award immediately before the original award is modified. This ASU was effective for fiscal years beginning after December 15, 2017. The adoption of this ASU did not have any impact on the Company’s consolidated financial statements and disclosures. In February 2016, the FASB issued ASU No. 2016-02, "Leases (Topic 842)". This ASU requires entities that lease assets with lease terms of more than 12 months to recognize right-of-use assets and lease liabilities created by those leases on their balance sheets. This ASU will also require new qualitative and quantitative disclosures to help investors and other financial statement users better understand the amount, timing, and uncertainty of cash flows arising from leases. This ASU is effective for fiscal years beginning after December 15, 2018, with early adoption permitted. In July 2018, the FASB amended the leasing guidance to add a transition option. The Company plans to elect the transition option to continue to apply the legacy guidance ASC 840, Leases, including disclosure requirements, in the comparative periods presented in the year of adoption. With this election, a cumulative-effect adjustment will be recorded to retained earnings in the period of adoption. Based on the effective date, this amended guidance will apply to the Company beginning on January 1, 2019. Significant implementation matters being addressed by the Company include implementing an integrated third-party lease accounting application, assessing the impact to its internal control over financial reporting and documenting the new lease accounting process. T he Company is still in the process of evaluating the effect of adoption on its consolidated financial statements and currently assessing the accounting treatment of the leases under the new standard, the Company anticipates the ASU will have a material impact on its assets and liabilities due to the addition of right-of-use assets and lease liabilities to the balance sheet; however, it does not expect the ASU to have a material impact on the Company's consolidated cash flows or results of operations. In June 2018, the FASB issued ASU No. 2018-07, Compensation - Stock Compensation (Topic 718) (“ASU 2018 - 07”). ASU 2018 - 07 was issued in order to expand the guidance for stock-based compensation, to include share-based payment transactions for acquiring goods and services from nonemployees. The pronouncement is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2018, with early adoption permitted. The Company does not expect the adoption of the new accounting standard to have a material impact on its consolidated financial statements. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement (“ASU 2018-13”), which adds, amends and removes certain disclosure requirements related to fair value measurements. Among other changes, this standard requires certain additional disclosure surrounding Level 3 assets, including changes in unrealized gains or losses in other comprehensive income and certain inputs in those measurements. ASU 2018-13 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Certain amended or eliminated disclosures in this standard may be adopted early, while certain additional disclosure requirements in this standard can be adopted on its effective date. In addition, certain changes in the standard require retrospective adoption, while other changes must be adopted prospectively. The Company is currently evaluating the impact of this update on its consolidated financial statements and related disclosures. In August 2018, the FASB issued ASU No. 2018-14, "Compensation - Retirement Benefits - Defined Benefit Plans - General (Subtopic 715-20): Disclosure Framework - Changes to the Disclosure Requirements for Defined Benefit Plans." This ASU requires entities to disclose the weighted-average interest crediting rates for cash balance plans and other plans with promised interest crediting rates. This ASU also requires entities to disclose an explanation for significant gains and losses related to changes in the benefit obligation for the period. This ASU is effective for fiscal years beginning after December 15, 2020 with early adoption permitted. The Company is currently evaluating the method and impact the adoption of ASU 2018-14 will have on the Company’s consolidated financial statements and disclosures. In August 2018, the FASB issued ASU 2018 - 15, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40); Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract. The amendments in this update require implementation costs incurred by customers in cloud computing arrangements (i.e., hosting arrangements) to be capitalized under the same premises of authoritative guidance for internal-use software, and deferred over the noncancellable term of the cloud computing arrangement plus any option renewal periods that are reasonably certain to be exercised by the customer or for which the exercise is controlled by the service provider. The Company is required to adopt this new guidance in the first quarter of 2020. Early adoption is permitted. The Company is currently evaluating the impact of this update on its consolidated financial statements and related disclosures.
Derivatives	Derivatives The Company selectively uses financial instruments to manage market risk associated with exposure to fluctuations in interest rates. These financial exposures are monitored and managed by the Company as an integral part of its risk management program. The Company’s interest rate exposure is most sensitive to fluctuations in interest rates in the United States and Europe, which impact interest paid on its debt. The Company has debt with variable rates of interest based generally on LIBOR. From time to time, the Company enters into interest rate swap agreements to manage interest rate risk. These instruments are designated as cash flow hedges and are recorded at fair value using Level 2 observable market inputs. Derivative instruments are recognized as either assets or liabilities on the balance sheet in either current or non-current other assets or other accrued liabilities or other long-term liabilities depending upon maturity and commitment. For derivative instruments that are designated and qualify as a cash flow hedge, the effective portion of the gain or loss on the derivative is reported as a component of other comprehensive income and reclassified into earnings in the same period or periods in which the hedge transaction affects earnings. Any ineffective portion, or amounts related to contracts that are not designated as hedges, are recorded directly to earnings. The Company's policy for classifying cash flows from derivatives is to report the cash flows consistent with the underlying hedged item. The Company does not use derivatives for speculative or trading purposes.

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	9 Months Ended
	Sep. 30, 2018
Revenue from Contract with Customer [Abstract]
Schedule of Contract Assets and Liabilities	Contract assets and liabilities consisted of the following (in thousands): September 30, 2018 January 1, 2018 Dollar Change Contract assets $ 24,756 $ 19,125 $ 5,631 Contract liabilities $ 3,188 $ 2,820 $ 368
Schedule of Impact on Consolidated Income Statement and Consolidated Balance Sheet	The cumulative effect of the changes made to the Company’s Condensed Consolidated January 1, 2018 Balance Sheet for the adoption of ASC 606 was as follows: In thousands December 31, 2017 Adjustments for Adoption of ASC606 January 1, 2018 Assets: Contract assets $ — $ 19,125 $ 19,125 Inventories $ 80,339 $ (15,184 ) $ 65,155 Liabilities: Accounts payable $ 71,931 $ 663 $ 72,594 Other accrued liabilities $ 11,690 $ 1,209 $ 12,899 Deferred tax liabilities $ 14,714 $ 471 $ 15,185 Stockholders' equity: Retained earnings $ 374,783 $ 1,598 $ 376,381 The cumulative effect of the changes made to the Company’s Condensed Consolidated Balance Sheet for the adoption of ASC 606 was as follows: September 30, 2018 In thousands Balances Without Adoption of ASC 606 ASC 606 Adjustments As Reported Assets: Contract assets $ — $ 24,756 $ 24,756 Inventories $ 113,718 $ (21,839 ) $ 91,879 Liabilities: Accounts payable $ 86,502 $ 1,693 $ 88,195 Other accrued liabilities $ 16,655 $ (2,148 ) $ 14,507 Deferred tax liabilities $ 40,306 $ 758 $ 41,064 Stockholders' equity: Retained earnings $ 401,489 $ 2,652 $ 404,141 Accumulated other comprehensive loss $ (28,688 ) $ (38 ) $ (28,726 ) The cumulative effect of the changes made to the Company’s Condensed Consolidated Statement of Operations for the adoption of ASC 606 for the quarter and nine months ended September 30, 2018 were as follows: Quarter Ended September 30, 2018 In thousands Results Without Adoption of ASC606 Effect of Change As Reported Net sales $ 198,949 $ (1,063 ) $ 197,886 Cost of sales 164,793 (2,046 ) 162,747 Gross profit 34,156 983 35,139 Selling, product development and administrative expenses 25,406 — 25,406 Operating income 8,750 983 9,733 Interest expense 1,505 — 1,505 Other income, net (40 ) — (40 ) Income before income taxes 7,285 983 8,268 Income tax expense 1,846 230 2,076 Income from equity method investment (64 ) — (64 ) Net income $ 5,503 $ 753 $ 6,256 Earnings per share: Basic $ 0.32 $ 0.04 $ 0.36 Diluted $ 0.32 $ 0.04 $ 0.36 Weighted average number of common shares outstanding: Basic 17,216 — 17,216 Diluted 17,349 — 17,349 In the third quarter of 2018, ASC 606 had a negative impact to net sales of $1.1 million primarily due to tooling sales. However, ASC 606 had a positive impact to gross profit of $1.0 million as tooling sales had a minimal effect on gross profit. ASC 606 resulted in lower tooling net sales and cost of sales of approximately $5.0 million as tooling projects, with minimal gross profit and over time revenue recognition under ASC 606, were closed and invoiced to customers. The gross profit effect of $1.0 million was due to over time non-tooling sales recognized in the third quarter under ASC 606 of approximately $3.9 million at a gross profit of approximately $1.0 million. Nine Months Ended September 30, 2018 In thousands Results Without Adoption of ASC606 Effect of Change As Reported Net sales $ 569,160 $ 6,799 $ 575,959 Cost of sales 459,728 5,458 465,186 Gross profit 109,432 1,341 110,773 Selling, product development and administrative expenses 74,755 — 74,755 Operating income 34,677 1,341 36,018 Interest expense 2,617 — 2,617 Other income, net (93 ) — (93 ) Income before income taxes 32,153 1,341 33,494 Income tax expense 5,567 287 5,854 Income from equity method investment (120 ) — (120 ) Net income $ 26,706 $ 1,054 $ 27,760 Earnings per share: Basic $ 1.55 $ 0.06 $ 1.61 Diluted $ 1.54 $ 0.06 $ 1.60 Weighted average number of common shares outstanding: Basic 17,189 — 17,189 Diluted 17,339 — 17,339
Schedule of Disaggregation of Revenue by Geographical Location	Disaggregated revenue by geographical region for the quarter and nine months ended September 30, 2018 were as follows: Quarter Ended September 30, 2018 In thousands Performance Materials Technical Nonwovens Thermal Acoustical Solutions Eliminations and Other Consolidated Net Sales North America $ 29,048 $ 44,092 $ 58,484 $ (4,891 ) $ 126,733 Europe 12,120 18,757 24,183 (225 ) 54,835 Asia 552 10,222 5,544 — 16,318 Total Net Sales $ 41,720 $ 73,071 $ 88,211 $ (5,116 ) $ 197,886 Nine Months Ended September 30, 2018 In thousands Performance Materials Technical Nonwovens Thermal Acoustical Solutions Eliminations and Other Consolidated Net Sales North America $ 69,088 $ 128,788 $ 190,385 $ (19,249 ) $ 369,012 Europe 34,007 56,197 76,753 (580 ) 166,377 Asia 552 27,339 12,679 — 40,570 Total Net Sales $ 103,647 $ 212,324 $ 279,817 $ (19,829 ) $ 575,959

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
	Sep. 30, 2018
Business Combinations [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The following is a preliminary estimate of the assets acquired and the liabilities assumed by the Company at the date of the acquisition: In thousands Accounts receivable $ 25,182 Inventories 17,313 Prepaid expenses and other current assets 2,382 Property, plant and equipment 40,902 Goodwill (Note 5) 130,462 Other intangible assets (Note 5) 107,800 Other assets 308 Total assets acquired, net of cash acquired $ 324,349 Current liabilities $ (11,319 ) Deferred tax liabilities (25,275 ) Benefit plan liabilities (18,352 ) Other long-term liabilities (1,031 ) Total liabilities assumed (55,977 ) Total purchase price, net of cash acquired $ 268,372
Schedule of Unaudited Pro Forma Operating Results	The following table reflects the unaudited pro forma operating results of the Company for the quarter and nine months ended September 30, 2018 and 2017, which gives effect to the acquisition of Interface as if it had occurred on January 1, 2017. The pro forma information includes the historical financial results of the Company and Interface. The pro forma results are not necessarily indicative of the operating results that would have occurred had the acquisition been effective January 1, 2017, nor are they intended to be indicative of results that may occur in the future. The pro forma information does not include the effects of any synergies related to the acquisition. (Unaudited Pro Forma) (Unaudited Pro Forma) Quarter Ended Nine Months Ended In thousands 2018 2017 2018 2017 Net sales $ 220,937 $ 214,503 $ 678,418 $ 627,197 Net income $ 6,147 $ 8,474 $ 28,461 $ 26,061 Earnings per share: Basic $ 0.36 $ 0.50 $ 1.66 $ 1.53 Diluted $ 0.35 $ 0.49 $ 1.64 $ 1.51 Basic 17,216 17,055 17,189 17,028 Diluted 17,349 17,267 17,339 17,270

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2018
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories as of September 30, 2018 and December 31, 2017 were as follows: In thousands September 30, December 31, Raw materials $ 41,182 $ 28,672 Work in process 21,630 29,427 Finished goods 29,067 23,901 91,879 82,000 Less: Progress billings — (1,661 ) Total inventories $ 91,879 $ 80,339

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Changes in Carrying Amount of Goodwill by Segment	The changes in the carrying amount of goodwill by segment as of and for the nine months ended September 30, 2018 were as follows: December 31, Currency translation adjustments Additions September 30, 2018 In thousands Performance Materials $ 13,307 $ (142 ) $ 130,980 $ 144,145 Technical Nonwovens 55,662 (1,574 ) — 54,088 Total goodwill $ 68,969 $ (1,716 ) $ 130,980 $ 198,233
Schedule of Impaired Intangible Assets	The table below presents the gross carrying amount and, as applicable, the accumulated amortization of the Company’s acquired intangible assets other than goodwill included in “Other intangible assets, net” in the Condensed Consolidated Balance Sheets as of September 30, 2018 and December 31, 2017 : September 30, 2018 December 31, 2017 In thousands Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Amortized intangible assets Customer Relationships $ 143,651 $ (8,538 ) $ 39,474 $ (4,460 ) Patents 4,376 (3,796 ) 4,504 (3,821 ) Technology 2,500 (769 ) 2,500 (644 ) Trade Names 7,368 (2,263 ) 4,288 (1,461 ) License Agreements 625 (625 ) 640 (640 ) Other 564 (423 ) 586 (423 ) Total amortized intangible assets $ 159,084 $ (16,414 ) $ 51,992 $ (11,449 )

Long-term Debt and Financing _2

Long-term Debt and Financing Arrangements (Tables)	9 Months Ended
	Sep. 30, 2018
Debt Disclosure [Abstract]
Schedule of Maturities of Long-term Debt	Total outstanding debt consists of: September 30, December 31, In thousands Effective Rate Maturity 2018 2017 Revolver Loan 3.87 % 8/31/2023 $ 138,000 $ 76,600 Term Loan, net of debt issuance costs 3.87 % 8/31/2023 199,471 — Capital Leases 1.65% - 2.09% 2019 - 2020 385 590 337,856 77,190 Less portion due within one year (10,182 ) (277 ) Total long-term debt, net of debt issuance costs $ 327,674 $ 76,913

Derivatives (Tables)

Derivatives (Tables)	9 Months Ended
	Sep. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Assets at Fair Value	The following table sets forth the fair value amounts of derivative instruments held by the Company: September 30, 2018 December 31, 2017 In thousands Asset Derivatives Liability Derivatives Asset Derivatives Liability Derivatives Derivatives designated as hedging instruments: Interest rate contract $ 272 $ — $ 157 $ — Total derivatives $ 272 $ — $ 157 $ —
Schedule of Derivative Liabilities at Fair Value	The following table sets forth the fair value amounts of derivative instruments held by the Company: September 30, 2018 December 31, 2017 In thousands Asset Derivatives Liability Derivatives Asset Derivatives Liability Derivatives Derivatives designated as hedging instruments: Interest rate contract $ 272 $ — $ 157 $ — Total derivatives $ 272 $ — $ 157 $ —
Schedule of Cash Flow Hedges included in Accumulated Other Comprehensive Income (Loss)	The following table sets forth the income recorded in accumulated other comprehensive income (loss), net of tax, for the quarters and nine months ended September 30, 2018 and 2017 for derivatives held by the Company and designated as hedging instruments: Quarter Ended Nine Months Ended 2018 2017 2018 2017 Cash flow hedges: Interest rate contract $ 14 $ 37 $ 89 $ (7 ) $ 14 37 $ 89 $ (7 )

Equity Compensation Plans (Tabl

Equity Compensation Plans (Tables)	9 Months Ended
	Sep. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Outstanding and Exercisable Options	The following table is a summary of outstanding and exercisable options as of September 30, 2018 : In thousands except per share amounts Shares Weighted- Average Exercise Price Aggregate Intrinsic Value Outstanding at September 30, 2018 398 $ 35.57 $ 4,688 Exercisable at September 30, 2018 188 $ 23.18 $ 3,944 Unvested at September 30, 2018 210 $ 46.64 $ 744

Restructuring (Tables)

Restructuring (Tables)	9 Months Ended
	Sep. 30, 2018
Restructuring and Related Activities [Abstract]
Schedule of Restructuring and Related Costs	Actual pre-tax expenses incurred and total estimated pre-tax expenses for the restructuring program by type are as follows: In thousands Severance and Related Expenses Contract Termination Expenses Facility Exit, Move and Set-up Expenses Total Total estimated expenses $ 1,200 $ 300 $ 3,500 $ 5,000 Expenses incurred through December 31, 2017 181 154 327 662 Estimated remaining expense at December 31, 2017 $ 1,019 $ 146 $ 3,173 $ 4,338 Expense incurred during quarter ended: March 31, 2018 $ 315 $ — $ 219 $ 534 June 30, 2018 185 — 700 885 September 30, 2018 105 — 414 519 Total pre-tax expense incurred $ 786 $ 154 $ 1,660 $ 2,600 Estimated remaining expense at September 30, 2018 $ 414 $ 146 $ 1,840 $ 2,400
Schedule of Restructuring Reserve by Type of Cost	Accrued restructuring costs were as follows at September 30, 2018 : In thousands Total Balance as of December 31, 2017 $ 333 Pre-tax restructuring expenses, excluding depreciation 1,768 Cash paid (1,407 ) Balance as of September 30, 2018 $ 694

Employer Sponsored Benefit Pl_2

Employer Sponsored Benefit Plans (Tables)	9 Months Ended
	Sep. 30, 2018
Retirement Benefits [Abstract]
Schedule of Components of Net Periodic Benefit Cost	The following is a summary of the components of net periodic benefit cost for the Lydall and acquired Interface Pension Plans: Quarter Ended Nine Months Ended In thousands 2018 2017 2018 2017 Components of net periodic benefit cost Service Cost $ 12 $ — $ 12 $ — Interest cost 640 514 1,579 1,543 Expected return on assets (893 ) (594 ) (2,193 ) (1,782 ) Amortization of actuarial loss 256 273 768 819 Net periodic benefit cost $ 15 $ 193 $ 166 $ 580

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2018
Earnings Per Share [Abstract]
Schedule of Reconciliation of Weighted Average Shares Used to Determine Basic and Diluted Earnings Per Share	The following table provides a reconciliation of weighted-average shares used to determine basic and diluted earnings per share: Quarter Ended Nine Months Ended In thousands 2018 2017 2018 2017 Basic average common shares outstanding 17,216 17,055 17,189 17,028 Effect of dilutive options and restricted stock awards 133 212 150 242 Diluted average common shares outstanding 17,349 17,267 17,339 17,270

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2018
Segment Reporting [Abstract]
Schedule of Consolidated Net Sales by Segment	Consolidated net sales by segment: Quarter Ended Nine Months Ended In thousands 2018 2017 2018 2017 Performance Materials Segment (1) : Filtration $ 22,643 $ 22,263 $ 68,846 $ 65,483 Sealing and Advanced Solutions 19,077 7,284 34,801 22,116 Performance Materials Segment net sales 41,720 29,547 103,647 87,599 Technical Nonwovens Segment: Industrial Filtration 40,945 38,346 120,346 108,884 Advanced Materials (2) 32,126 34,960 91,978 90,438 Technical Nonwovens net sales 73,071 73,306 212,324 199,322 Thermal Acoustical Solutions Segment: Parts 77,723 75,195 248,764 237,657 Tooling 10,488 9,181 31,053 17,505 Thermal Acoustical Solutions Segment net sales 88,211 84,376 279,817 255,162 Eliminations and Other (2) (5,116 ) (7,188 ) (19,829 ) (21,676 ) Consolidated Net Sales $ 197,886 $ 180,041 $ 575,959 $ 520,407
Schedule of Operating Income by Segment	Operating income by segment: Quarter Ended Nine Months Ended In thousands 2018 2017 (3) 2018 2017 (3) Performance Materials (1) $ 1,753 $ 3,133 $ 8,043 $ 8,725 Technical Nonwovens 6,271 8,589 17,395 19,792 Thermal Acoustical Solutions 7,923 10,607 29,357 40,798 Corporate Office Expenses (6,214 ) (6,975 ) (18,777 ) (18,775 ) Consolidated Operating Income $ 9,733 $ 15,354 $ 36,018 $ 50,540 (1) The Performance Materials segment reports the results of Interface and PCC for the period following the date of acquisitions of August 31, 2018 and July 12, 2018, respectively. (2) Included in the Technical Nonwovens segment and Eliminations and Other is $4.3 million and $6.5 million in intercompany sales to the Thermal Acoustical Solutions segment for the quarters ended September 30, 2018 and 2017 , respectively, and $17.2 million and $19.5 million for the nine months ended September 30, 2018 and 2017 , respectively. (3) The quarter and nine months ended September 30, 2017 segment operating income amounts of $0.2 million and $0.6 million , respectively, have been reclassified to other expense (income), net, to give effect to the adoption of ASU No. 2017-07, "Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost".

Changes in Accumulated Other _2

Changes in Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	Sep. 30, 2018
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Changes by Classification within Accumulated Other Comprehensive Income (Loss)	The following table discloses the changes by classification within accumulated other comprehensive income (loss) for the nine months ended September 30, 2018 and 2017 : In thousands Foreign Currency Translation Adjustment Defined Benefit Pension Adjustment Gains and Losses on Cash Flow Hedges Total Accumulated Other Comprehensive (Loss) Income Balance at December 31, 2016 $ (27,885 ) $ (20,065 ) $ — $ (47,950 ) Other comprehensive income (loss) 23,951 — (7 ) (b) 23,944 Amounts reclassified from accumulated other comprehensive loss — 516 (a) — 516 Balance at September 30, 2017 (3,934 ) (19,549 ) (7 ) (23,490 ) Balance at December 31, 2017 (2,221 ) (18,049 ) 122 (20,148 ) Other comprehensive (loss) income (9,262 ) — 89 (b) (9,173 ) Amounts reclassified from accumulated other comprehensive loss — 595 (a) — 595 Balance at September 30, 2018 $ (11,483 ) $ (17,454 ) $ 211 $ (28,726 ) (a) Amount represents amortization of actuarial losses, a component of net periodic benefit cost. This amount was $0.6 million , net of $0.2 million tax benefit, and $0.5 million , net of $0.3 million tax benefit, for the nine months ended September 30, 2018 and 2017 , respectively. (b) Amount represents unrealized gains on the fair value of hedging activities, net of taxes, for the nine months ended September 30, 2018 and 2017 .

Basis of Financial Statement _3

Basis of Financial Statement Presentation - Narrative (Details) - USD ($) $ in Thousands	Jul. 12, 2018	Jan. 01, 2018	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2016	Dec. 31, 2017
New Accounting Pronouncement, Early Adoption [Line Items]
Business acquisitions, net of cash acquired					$ 269,972	$ 335
Effect on revenue			$ 197,886	$ 180,041	575,959	520,407
Effect on retained earnings		$ 376,381	404,141		404,141			$ 374,783
Cost of sales			162,747	139,987	465,186	396,528
Selling, product development and administrative expenses			25,406	24,700	74,755	73,339
Accounting Standards Update 2014-09 | Difference between Revenue Guidance in Effect before and after Topic 606
New Accounting Pronouncement, Early Adoption [Line Items]
Effect on revenue		19,600	(1,063)		6,799
Effect on retained earnings		1,598	2,652		2,652
Cost of sales			(2,046)		5,458
Selling, product development and administrative expenses			0		$ 0
Accounting Standards Update 2017-07
New Accounting Pronouncement, Early Adoption [Line Items]
Cost of sales				100		200
Selling, product development and administrative expenses				$ 100		$ 400
Thermal Acoustical Solutions | Accounting Standards Update 2014-09 | Difference between Revenue Guidance in Effect before and after Topic 606
New Accounting Pronouncement, Early Adoption [Line Items]
Effect on revenue		$ 16,300	$ (1,100)
Precision Filtration Division of Precision Custom Coatings
New Accounting Pronouncement, Early Adoption [Line Items]
Payments to acquire business	$ 1,600
Possible additional cash payments (less than)	$ 2,000
Interface
New Accounting Pronouncement, Early Adoption [Line Items]
Business acquisitions, net of cash acquired							$ 268,400
Cash acquired from acquisition							$ 5,200

Revenue from Contracts with C_3

Revenue from Contracts with Customers - Narrative (Details) - USD ($) $ in Thousands	Jan. 01, 2018	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Disaggregation of Revenue [Line Items]
Increase in net contract assets				$ 5,600
Increase in contract liabilities				400
Revenue recognized from contracts with customers				2,500
Effect on revenue		$ 197,886	$ 180,041	575,959	$ 520,407
Effect on gross profit		35,139	40,054	110,773	123,879
Effect on cost of goods sold		162,747	$ 139,987	465,186	$ 396,528
Interface
Disaggregation of Revenue [Line Items]
Increase in net contract assets				200
Accounting Standards Update 2014-09 | Difference between Revenue Guidance in Effect before and after Topic 606
Disaggregation of Revenue [Line Items]
Effect on revenue	$ 19,600	(1,063)		6,799
Effect on gross profit		983		1,341
Effect on cost of goods sold		(2,046)		$ 5,458
Thermal Acoustical Solutions | Accounting Standards Update 2014-09 | Difference between Revenue Guidance in Effect before and after Topic 606
Disaggregation of Revenue [Line Items]
Effect on revenue	$ 16,300	(1,100)
Effect on gross profit		1,000
Tooling | Thermal Acoustical Solutions | Accounting Standards Update 2014-09 | Difference between Revenue Guidance in Effect before and after Topic 606
Disaggregation of Revenue [Line Items]
Effect on revenue		(5,000)
Effect on cost of goods sold		(5,000)
Non-Tooling | Thermal Acoustical Solutions | Accounting Standards Update 2014-09 | Difference between Revenue Guidance in Effect before and after Topic 606
Disaggregation of Revenue [Line Items]
Effect on revenue		(3,900)
Effect on gross profit		$ 1,000

Revenue from Contracts with C_4

Revenue from Contracts with Customers - Contract Assets and Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Jan. 01, 2018	Dec. 31, 2017
Disaggregation of Revenue [Line Items]
Contract assets	$ 24,756	$ 19,125	$ 0
Contract liabilities	$ 3,188	2,820
Accounting Standards Update 2014-09
Disaggregation of Revenue [Line Items]
Contract assets		5,631
Contract liabilities		$ 368

Revenue from Contracts with C_5

Revenue from Contracts with Customers - Impact on Consolidated Income Statement and Consolidated Balance Sheet (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	Jan. 01, 2018	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Assets:
Contract assets	$ 19,125	$ 24,756		$ 24,756		$ 0
Inventories	65,155	91,879		91,879		80,339
Liabilities:
Accounts payable	72,594	88,195		88,195		71,931
Other accrued liabilities	12,899	14,507		14,507		11,690
Deferred tax liabilities	15,185	41,064		41,064		14,714
Stockholders' equity:
Retained earnings	376,381	404,141		404,141		374,783
Accumulated other comprehensive loss		(28,726)		(28,726)		(20,148)
Income Statement
Net sales		197,886	$ 180,041	575,959	$ 520,407
Cost of sales		162,747	139,987	465,186	396,528
Gross profit		35,139	40,054	110,773	123,879
Selling, product development and administrative expenses		25,406	24,700	74,755	73,339
Operating income		9,733	15,354	36,018	50,540
Interest expense		1,505	705	2,617	2,106
Other income, net		(40)	601	(93)	1,727
Income before income taxes		8,268	14,048	33,494	46,707
Income tax expense		2,076	3,404	5,854	11,201
Income from equity method investment		(64)	(31)	(120)	37
Net income		$ 6,256	$ 10,675	$ 27,760	$ 35,469
Earnings per share:
Basic (USD per share)		$ 0.36	$ 0.63	$ 1.61	$ 2.08
Diluted (USD per share)		$ 0.36	$ 0.62	$ 1.60	$ 2.05
Weighted average number of common shares outstanding:
Basic average common shares outstanding		17,216	17,055	17,189	17,028
Diluted average common shares outstanding		17,349	17,267	17,339	17,270
Calculated under Revenue Guidance in Effect before Topic 606
Assets:
Contract assets		$ 0		$ 0		0
Inventories		113,718		113,718		80,339
Liabilities:
Accounts payable		86,502		86,502		71,931
Other accrued liabilities		16,655		16,655		11,690
Deferred tax liabilities		40,306		40,306		14,714
Stockholders' equity:
Retained earnings		401,489		401,489		$ 374,783
Accumulated other comprehensive loss		(28,688)		(28,688)
Income Statement
Net sales		198,949		569,160
Cost of sales		164,793		459,728
Gross profit		34,156		109,432
Selling, product development and administrative expenses		25,406		74,755
Operating income		8,750		34,677
Interest expense		1,505		2,617
Other income, net		(40)		(93)
Income before income taxes		7,285		32,153
Income tax expense		1,846		5,567
Income from equity method investment		(64)		(120)
Net income		$ 5,503		$ 26,706
Earnings per share:
Basic (USD per share)		$ 0.32		$ 1.55
Diluted (USD per share)		$ 0.32		$ 1.54
Weighted average number of common shares outstanding:
Basic average common shares outstanding		17,216		17,189
Diluted average common shares outstanding		17,349		17,339
Accounting Standards Update 2014-09
Assets:
Contract assets	5,631
Accounting Standards Update 2014-09 | Difference between Revenue Guidance in Effect before and after Topic 606
Assets:
Contract assets	19,125	$ 24,756		$ 24,756
Inventories	(15,184)	(21,839)		(21,839)
Liabilities:
Accounts payable	663	1,693		1,693
Other accrued liabilities	1,209	(2,148)		(2,148)
Deferred tax liabilities	471	758		758
Stockholders' equity:
Retained earnings	1,598	2,652		2,652
Accumulated other comprehensive loss		(38)		(38)
Income Statement
Net sales	$ 19,600	(1,063)		6,799
Cost of sales		(2,046)		5,458
Gross profit		983		1,341
Selling, product development and administrative expenses		0		0
Operating income		983		1,341
Interest expense		0		0
Other income, net		0		0
Income before income taxes		983		1,341
Income tax expense		230		287
Income from equity method investment		0		0
Net income		$ 753		$ 1,054
Earnings per share:
Basic (USD per share)		$ 0.04		$ 0.06
Diluted (USD per share)		$ 0.04		$ 0.06
Weighted average number of common shares outstanding:
Basic average common shares outstanding		0		0
Diluted average common shares outstanding		0		0

Revenue from Contracts with C_6

Revenue from Contracts with Customers - Disaggregation of Revenue by Geographical Location (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Disaggregation of Revenue [Line Items]
Net sales	$ 197,886	$ 180,041	$ 575,959	$ 520,407
North America
Disaggregation of Revenue [Line Items]
Net sales	126,733		369,012
Europe
Disaggregation of Revenue [Line Items]
Net sales	54,835		166,377
Asia
Disaggregation of Revenue [Line Items]
Net sales	16,318		40,570
Operating Segments | Performance Materials
Disaggregation of Revenue [Line Items]
Net sales	41,720	29,547	103,647	87,599
Operating Segments | Performance Materials | North America
Disaggregation of Revenue [Line Items]
Net sales	29,048		69,088
Operating Segments | Performance Materials | Europe
Disaggregation of Revenue [Line Items]
Net sales	12,120		34,007
Operating Segments | Performance Materials | Asia
Disaggregation of Revenue [Line Items]
Net sales	552		552
Operating Segments | Technical Nonwovens
Disaggregation of Revenue [Line Items]
Net sales	73,071	73,306	212,324	199,322
Operating Segments | Technical Nonwovens | North America
Disaggregation of Revenue [Line Items]
Net sales	44,092		128,788
Operating Segments | Technical Nonwovens | Europe
Disaggregation of Revenue [Line Items]
Net sales	18,757		56,197
Operating Segments | Technical Nonwovens | Asia
Disaggregation of Revenue [Line Items]
Net sales	10,222		27,339
Operating Segments | Thermal Acoustical Solutions
Disaggregation of Revenue [Line Items]
Net sales	88,211	84,376	279,817	255,162
Operating Segments | Thermal Acoustical Solutions | North America
Disaggregation of Revenue [Line Items]
Net sales	58,484		190,385
Operating Segments | Thermal Acoustical Solutions | Europe
Disaggregation of Revenue [Line Items]
Net sales	24,183		76,753
Operating Segments | Thermal Acoustical Solutions | Asia
Disaggregation of Revenue [Line Items]
Net sales	5,544		12,679
Eliminations and Other
Disaggregation of Revenue [Line Items]
Net sales	(5,116)	$ (7,188)	(19,829)	$ (21,676)
Eliminations and Other | North America
Disaggregation of Revenue [Line Items]
Net sales	(4,891)		(19,249)
Eliminations and Other | Europe
Disaggregation of Revenue [Line Items]
Net sales	(225)		(580)
Eliminations and Other | Asia
Disaggregation of Revenue [Line Items]
Net sales	$ 0		$ 0

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) - USD ($)	Jul. 12, 2018	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2016	Aug. 31, 2018	Aug. 30, 2018	Jul. 06, 2016
Business Acquisition [Line Items]
Business acquisitions, net of cash acquired				$ 269,972,000	$ 335,000
Revolving Credit Facility | Amended Credit Facility
Business Acquisition [Line Items]
Maximum borrowing capacity		$ 450,000,000		450,000,000			$ 450,000,000	$ 175,000,000	$ 450,000,000
Interface
Business Acquisition [Line Items]
Voting interest acquired (as a percent)						100.00%
Business acquisitions, net of cash acquired						$ 268,400,000
Cash acquired from acquisition						5,200,000
Purchase price borrowings						$ 261,400,000
Transaction and acquisition related costs		1,500,000		2,600,000
Net sales of acquiree since acquisition date		11,800,000		11,800,000
Operating income of acquiree since acquisition date		300,000		300,000
Purchase accounting inventory fair value step-up adjustment		1,400,000		1,400,000
Intangible amortization expense		900,000		900,000
Additional pro-forma net income (loss)		$ 7,900,000	$ (1,700,000)	$ 5,600,000	$ (11,600,000)
Precision Filtration Division of Precision Custom Coatings
Business Acquisition [Line Items]
Payments to acquire business	$ 1,600,000
Post closing working capital adjustment	$ 2,000,000

Acquisitions - Identifiable Ass

Acquisitions - Identifiable Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Aug. 31, 2018	Dec. 31, 2017
Business Acquisition [Line Items]
Goodwill (Note 5)	$ 198,233		$ 68,969
Interface
Business Acquisition [Line Items]
Accounts receivable		$ 25,182
Inventories		17,313
Prepaid expenses and other current assets		2,382
Property, plant and equipment		40,902
Goodwill (Note 5)		130,462
Other intangible assets (Note 5)		107,800
Other assets		308
Total assets acquired, net of cash acquired		324,349
Current liabilities		(11,319)
Deferred tax liabilities		(25,275)
Benefit plan liabilities		(18,352)
Other long-term liabilities		(1,031)
Total liabilities assumed		(55,977)
Total purchase price, net of cash acquired		$ 268,372

Acquisitions - Unaudited Pro Fo

Acquisitions - Unaudited Pro Forma Operating Results (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
(Unaudited Pro Forma) Earnings per share:
Basic (shares)	17,216	17,055	17,189	17,028
Diluted (shares)	17,349	17,267	17,339	17,270
Interface
(Unaudited Pro Forma)
Net sales	$ 220,937	$ 214,503	$ 678,418	$ 627,197
Net income	$ 6,147	$ 8,474	$ 28,461	$ 26,061
(Unaudited Pro Forma) Earnings per share:
Basic (USD per share)	$ 0.36	$ 0.50	$ 1.66	$ 1.53
Diluted (USD per share)	$ 0.35	$ 0.49	$ 1.64	$ 1.51

Inventories - Narrative (Detail

Inventories - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Inventory Disclosure [Abstract]
Gross tooling inventory	$ 5.2	$ 20.2
Tooling inventory, net of progress billings		$ 18.5

Inventories - Summary (Details)

Inventories - Summary (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Inventory, Net [Abstract]
Raw materials	$ 41,182	$ 28,672
Work in process	21,630	29,427
Finished goods	29,067	23,901
Gross inventory total	91,879	82,000
Less: Progress billings	0	(1,661)
Total inventories	$ 91,879	$ 80,339

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Narrative (Details) - USD ($)	Aug. 31, 2018	Sep. 30, 2018	Dec. 31, 2017
Finite-Lived Intangible Assets [Line Items]
Additional goodwill acquired		$ 130,980,000
Gross intangible assets		159,084,000	$ 51,992,000
Customer Relationships
Finite-Lived Intangible Assets [Line Items]
Gross intangible assets		143,651,000	39,474,000
Trade Names
Finite-Lived Intangible Assets [Line Items]
Gross intangible assets		7,368,000	$ 4,288,000
Interface
Finite-Lived Intangible Assets [Line Items]
Goodwill expected to be deductible for income tax purposes		0
Gross intangible assets	$ 107,800,000
Interface | Customer Relationships
Finite-Lived Intangible Assets [Line Items]
Gross intangible assets	$ 104,600,000
Weighted-average useful life of acquired intangible assets	13 years
Interface | Trade Names
Finite-Lived Intangible Assets [Line Items]
Gross intangible assets	$ 3,200,000
Weighted-average useful life of acquired intangible assets	3 years
Performance Materials
Finite-Lived Intangible Assets [Line Items]
Additional goodwill acquired		130,980,000
Performance Materials | Interface
Finite-Lived Intangible Assets [Line Items]
Additional goodwill acquired		$ 130,500,000

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Changes in Carrying Amount of Goodwill by Segment (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2018USD ($)
Goodwill [Roll Forward]
Balance at beginning of period	$ 68,969
Currency translation adjustments	(1,716)
Additions	130,980
Balance at end of period	198,233
Performance Materials
Goodwill [Roll Forward]
Balance at beginning of period	13,307
Currency translation adjustments	(142)
Additions	130,980
Balance at end of period	144,145
Technical Nonwovens
Goodwill [Roll Forward]
Balance at beginning of period	55,662
Currency translation adjustments	(1,574)
Additions	0
Balance at end of period	$ 54,088

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Amortization of the Acquired Intangible Assets Other than Goodwill (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Amortized intangible assets
Gross Carrying Amount	$ 159,084	$ 51,992
Accumulated Amortization	(16,414)	(11,449)
Customer Relationships
Amortized intangible assets
Gross Carrying Amount	143,651	39,474
Accumulated Amortization	(8,538)	(4,460)
Patents
Amortized intangible assets
Gross Carrying Amount	4,376	4,504
Accumulated Amortization	(3,796)	(3,821)
Technology
Amortized intangible assets
Gross Carrying Amount	2,500	2,500
Accumulated Amortization	(769)	(644)
Trade Names
Amortized intangible assets
Gross Carrying Amount	7,368	4,288
Accumulated Amortization	(2,263)	(1,461)
License Agreements
Amortized intangible assets
Gross Carrying Amount	625	640
Accumulated Amortization	(625)	(640)
Other
Amortized intangible assets
Gross Carrying Amount	564	586
Accumulated Amortization	$ (423)	$ (423)

Long-term Debt and Financing _3

Long-term Debt and Financing Arrangements - Narrative (Details)	Aug. 31, 2018USD ($)	Apr. 30, 2017USD ($)	Sep. 30, 2018USD ($)	Sep. 30, 2018USD ($)	Jun. 30, 2023USD ($)	Aug. 30, 2018USD ($)	Dec. 31, 2017	Jul. 06, 2016USD ($)
Debt Instrument [Line Items]
Weighted-average interest rate (as a percent)			2.90%	2.90%			2.20%
Interest Rate Swap
Debt Instrument [Line Items]
Derivative agreement term		3 years
Derivative notional amount		$ 60,000,000
Fixed rate of derivatives (as a percent)		1.58%
Quarterly reduction to notional amount			$ 5,000,000
Amended Credit Facility
Debt Instrument [Line Items]
Borrowings outstanding under term loan			250,000,000	$ 250,000,000
Outstanding standby letters of credit			3,900,000	3,900,000
Term Loan Due August 31, 2023
Debt Instrument [Line Items]
Borrowings outstanding under term loan			200,000,000	200,000,000
Debt issuance costs			500,000	500,000
Revolving Credit Facility | Amended Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 450,000,000		$ 450,000,000	$ 450,000,000		$ 175,000,000		$ 450,000,000
Maximum borrowing capacity possible value of increase (not to exceed)	$ 150,000,000
Credit facility fixed charge coverage ratio (not less than)				1.25
Required consolidated leverage ratio as of end of each fiscal quarter (no greater than)			3.5	3.5
Remaining borrowing capacity			$ 108,100,000	$ 108,100,000
Outstanding borrowings			338,000,000	$ 338,000,000
Revolving Credit Facility | Amended Credit Facility | Minimum
Debt Instrument [Line Items]
Quarterly unused line commitment fee (as a percent)				0.15%
Revolving Credit Facility | Amended Credit Facility | Maximum
Debt Instrument [Line Items]
Quarterly unused line commitment fee (as a percent)				0.275%
Revolving Credit Facility | Amended Credit Facility | Base Rate | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)				0.00%
Revolving Credit Facility | Amended Credit Facility | Base Rate | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)				1.25%
Revolving Credit Facility | Amended Credit Facility | Federal Funds Effective Swap Rate
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)				0.50%
Revolving Credit Facility | Amended Credit Facility | Eurocurrency Rate
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)				1.00%
Revolving Credit Facility | Amended Credit Facility | Eurocurrency Rate | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)				0.75%
Revolving Credit Facility | Amended Credit Facility | Eurocurrency Rate | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)				2.00%
Foreign Credit Facility
Debt Instrument [Line Items]
Remaining borrowing capacity			8,400,000	$ 8,400,000
Outstanding borrowings			100,000	100,000
Outstanding standby letters of credit			$ 2,300,000	$ 2,300,000
Subsequent Event | Term Loan Due August 31, 2023
Debt Instrument [Line Items]
Amount of quarterly repayments of term commitment					$ 2,500,000

Long-term Debt and Financing _4

Long-term Debt and Financing Arrangements - Maturities of Long-term Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Long-term debt	$ 337,856	$ 77,190
Less portion due within one year	(10,182)	(277)
Total long-term debt, net of debt issuance costs	$ 327,674	76,913
Term Loan, net of debt issuance costs
Debt Instrument [Line Items]
Debt instrument, effective interest rate (as a percent)	3.87%
Long-term debt	$ 199,471	0
Capital Leases | Capital Leases
Debt Instrument [Line Items]
Long-term debt	$ 385	590
Revolving Credit Facility | Revolver Loan
Debt Instrument [Line Items]
Debt instrument, effective interest rate (as a percent)	3.87%
Long-term debt	$ 138,000	$ 76,600
Minimum | Capital Leases
Debt Instrument [Line Items]
Debt instrument, effective interest rate (as a percent)	1.65%
Maximum | Capital Leases
Debt Instrument [Line Items]
Debt instrument, effective interest rate (as a percent)	2.09%

Derivatives - Narrative (Detail

Derivatives - Narrative (Details) - Interest Rate Swap - USD ($)	1 Months Ended	3 Months Ended
	Apr. 30, 2017	Sep. 30, 2018
Derivative [Line Items]
Derivative agreement term	3 years
Derivative notional amount	$ 60,000,000
Fixed rate of derivatives (as a percent)	1.58%
Quarterly reduction to notional amount		$ 5,000,000

Derivatives - Fair Value Amount

Derivatives - Fair Value Amounts of Derivative Instruments (Details) - Derivatives designated as hedging instruments - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Derivatives, Fair Value [Line Items]
Asset Derivatives	$ 272	$ 157
Liability Derivatives	0	0
Interest rate contract
Derivatives, Fair Value [Line Items]
Asset Derivatives	272	157
Liability Derivatives	$ 0	$ 0

Derivatives - Loss Recorded in

Derivatives - Loss Recorded in Accumulated Other Comprehensive Income (Loss) (Details) - Derivatives designated as hedging instruments - Cash flow hedges - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in other comprehensive income	$ 14	$ 37	$ 89	$ (7)
Interest rate contract
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in other comprehensive income	$ 14	$ 37	$ 89	$ (7)

Equity Compensation Plans - Nar

Equity Compensation Plans - Narrative (Details) - USD ($) $ in Millions	Apr. 27, 2012	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense		$ 0.6	$ 1	$ 3.2	$ 3.2
Stock options granted (shares)		0	0	11,180	0
Stock options exercised (shares)		19,250	6,170	46,291	34,634
Cash received from exercise of stock option		$ 0.2	$ 0.1	$ 0.8	$ 0.4
Intrinsic value of options exercised		0.6	0.2	1.3	1.4
Intrinsic value of stock options exercised, tax benefit		0.1	$ 0.1	$ 0.3	$ 0.4
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award, term				10 years
Total unrecognized compensation cost		2.6		$ 2.6
Weighted average expected amortization period				2 years 7 months
Employee Stock Option | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award, vesting period				3 years
Employee Stock Option | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award, vesting period				4 years
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation cost		$ 4.3		$ 4.3
Weighted average expected amortization period				1 year 11 months
Unvested restricted stock awards (shares)		179,772		179,772
Time Based Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted shares granted (shares)		10,790		18,896	0
Restricted shares vested (shares)		14,570	6,000	19,734	15,288
Time Based Restricted Stock | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award, vesting period				2 years
Time Based Restricted Stock | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award, vesting period				4 years
Performance Based Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted shares granted (shares)		0	0	15,190	18,100
Restricted shares vested (shares)		0	0	48,035	108,600
Stock Option Plan 2012
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share options and restricted shares authorized (shares)	1,750,000
Additional shares authorized under the plan (shares)	1,200,000

Equity Compensation Plans - Out

Equity Compensation Plans - Outstanding and Exercisable Options (Details) $ / shares in Units, shares in Thousands, $ in Thousands	Sep. 30, 2018USD ($)$ / sharesshares
Shares
Outstanding (shares) | shares	398
Exercisable (shares) | shares	188
Unvested (shares) | shares	210
Weighted- Average Exercise Price
Outstanding (USD per share) | $ / shares	$ 35.57
Exercisable (USD per share) | $ / shares	23.18
Unvested (USD per share) | $ / shares	$ 46.64
Aggregate Intrinsic Value
Outstanding | $	$ 4,688
Exercisable | $	3,944
Unvested | $	$ 744

Stock Repurchases - Narrative (

Stock Repurchases - Narrative (Details) $ in Millions	9 Months Ended
	Sep. 30, 2018USD ($)shares
Equity [Abstract]
Stock repurchased during period (shares) | shares	20,726
Aggregate purchase price of shares repurchased | $	$ 0.9

Restructuring - Narrative (Deta

Restructuring - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Sep. 30, 2018	Dec. 31, 2017	Dec. 31, 2018	Apr. 30, 2017
Restructuring Cost and Reserve [Line Items]
Cash paid		$ 600	$ 1,400
Technical Nonwovens
Restructuring Cost and Reserve [Line Items]
Estimated pre-tax restructuring expense		5,000	5,000
Restructuring, expected costs resulting in future cash expenditures						$ 4,800
Cash paid			1,407	$ 3,500
Pre-tax restructuring expenses, excluding depreciation		400	1,700
Technical Nonwovens | Selling, Product Development and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Pre-tax restructuring expenses, excluding depreciation		500	1,900
Technical Nonwovens | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Pre-tax restructuring expenses, excluding depreciation		$ 100	$ 200
Forecast | Technical Nonwovens
Restructuring Cost and Reserve [Line Items]
Pre-tax restructuring expenses, excluding depreciation	$ 600				$ 2,500

Restructuring - Actual and Esti

Restructuring - Actual and Estimated Pre-Tax Expenses (Details) - Technical Nonwovens - USD ($) $ in Thousands	3 Months Ended			9 Months Ended	12 Months Ended
	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Sep. 30, 2018	Dec. 31, 2017	Dec. 31, 2016
Restructuring Cost and Reserve [Line Items]
Total estimated expenses						$ 5,000
Total pre-tax expense incurred	$ 519	$ 885	$ 534	$ 2,600	$ 662
Estimated remaining expense	2,400			2,400	4,338
Severance and Related Expenses
Restructuring Cost and Reserve [Line Items]
Total estimated expenses						1,200
Total pre-tax expense incurred	105	185	315	786	181
Estimated remaining expense	414			414	1,019
Contract Termination Expenses
Restructuring Cost and Reserve [Line Items]
Total estimated expenses						300
Total pre-tax expense incurred	0	0	0	154	154
Estimated remaining expense	146			146	146
Facility Exit, Move and Set-up Expenses
Restructuring Cost and Reserve [Line Items]
Total estimated expenses						$ 3,500
Total pre-tax expense incurred	414	$ 700	$ 219	1,660	327
Estimated remaining expense	$ 1,840			$ 1,840	$ 3,173

Restructuring - Accrued Restruc

Restructuring - Accrued Restructuring Costs (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2018	Dec. 31, 2017
Restructuring Reserve [Roll Forward]
Cash paid	$ (600)	$ (1,400)
Technical Nonwovens
Restructuring Reserve [Roll Forward]
Balance		333
Pre-tax restructuring expenses, excluding depreciation		1,768
Cash paid		(1,407)	$ (3,500)
Balance	$ 694	$ 694	$ 333

Employer Sponsored Benefit Pl_3

Employer Sponsored Benefit Plans - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Aug. 31, 2018
Defined Benefit Plan Disclosure [Line Items]
Contributions made by company to domestic pension plan	$ 3,000	$ 1,200	$ 7,200	$ 3,600
Cost of sales	162,747	139,987	465,186	396,528
Selling, product development and administrative expenses	25,406	24,700	74,755	73,339
Accounting Standards Update 2017-07
Defined Benefit Plan Disclosure [Line Items]
Cost of sales		100		200
Selling, product development and administrative expenses		$ 100		$ 400
Interface
Defined Benefit Plan Disclosure [Line Items]
(Unfunded) Funded status of plan - asset (liability)					$ 11,200
Expected employer contributions during remainder of fiscal year	$ 300		$ 300
Post-retirement benefit plan | Interface
Defined Benefit Plan Disclosure [Line Items]
Benefit plan liabilities					4,100
Pension plan | Interface
Defined Benefit Plan Disclosure [Line Items]
Benefit plan liabilities					$ 2,900

Employer Sponsored Benefit Pl_4

Employer Sponsored Benefit Plans - Components of Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Components of net periodic benefit cost
Service Cost	$ 12	$ 0	$ 12	$ 0
Interest cost	640	514	1,579	1,543
Expected return on assets	(893)	(594)	(2,193)	(1,782)
Amortization of actuarial loss	256	273	768	819
Net periodic benefit cost	$ 15	$ 193	$ 166	$ 580

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Income Tax Disclosure [Abstract]
Tax expense (benefit) from repatriation of foreign earnings	$ 0.7		$ 0.7
Effective tax rate for income from continuing operations (as a percent)	25.10%	24.20%	17.50%	24.00%
Tax expense (benefit) from valuation allowance release during tax audit		$ (1.4)

Earnings Per Share - Narrative

Earnings Per Share - Narrative (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Earnings Per Share [Abstract]
Stock excluded from computation of diluted earnings per share (shares)	162,830	38,280	150,005	38,280

Earnings Per Share - Reconcilia

Earnings Per Share - Reconciliation for Basic and Diluted Earnings Per Share (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Earnings Per Share [Abstract]
Basic average common shares outstanding	17,216	17,055	17,189	17,028
Effect of dilutive options and restricted stock awards (shares)	133	212	150	242
Diluted average common shares outstanding	17,349	17,267	17,339	17,270

Segment Information - Consolida

Segment Information - Consolidated Net Sales by Segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Segment Reporting, Revenue Reconciling Item [Line Items]
Net sales	$ 197,886	$ 180,041	$ 575,959	$ 520,407
Operating Segments | Performance Materials
Segment Reporting, Revenue Reconciling Item [Line Items]
Net sales	41,720	29,547	103,647	87,599
Operating Segments | Performance Materials | Filtration
Segment Reporting, Revenue Reconciling Item [Line Items]
Net sales	22,643	22,263	68,846	65,483
Operating Segments | Performance Materials | Sealing and Advanced Solutions
Segment Reporting, Revenue Reconciling Item [Line Items]
Net sales	19,077	7,284	34,801	22,116
Operating Segments | Technical Nonwovens
Segment Reporting, Revenue Reconciling Item [Line Items]
Net sales	73,071	73,306	212,324	199,322
Operating Segments | Technical Nonwovens | Industrial Filtration
Segment Reporting, Revenue Reconciling Item [Line Items]
Net sales	40,945	38,346	120,346	108,884
Operating Segments | Technical Nonwovens | Advanced Materials
Segment Reporting, Revenue Reconciling Item [Line Items]
Net sales	32,126	34,960	91,978	90,438
Operating Segments | Thermal Acoustical Solutions
Segment Reporting, Revenue Reconciling Item [Line Items]
Net sales	88,211	84,376	279,817	255,162
Operating Segments | Thermal Acoustical Solutions | Parts
Segment Reporting, Revenue Reconciling Item [Line Items]
Net sales	77,723	75,195	248,764	237,657
Operating Segments | Thermal Acoustical Solutions | Tooling
Segment Reporting, Revenue Reconciling Item [Line Items]
Net sales	10,488	9,181	31,053	17,505
Eliminations and Other
Segment Reporting, Revenue Reconciling Item [Line Items]
Net sales	$ (5,116)	$ (7,188)	$ (19,829)	$ (21,676)

Segment Information - Operating

Segment Information - Operating Income by Segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Consolidated Operating Income	$ 9,733	$ 15,354	$ 36,018	$ 50,540
Technical Nonwovens
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Intercompany revenue	4,300	6,500	17,200	19,500
Operating Segments | Performance Materials (1)
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Consolidated Operating Income	1,753	3,133	8,043	8,725
Operating Segments | Technical Nonwovens
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Consolidated Operating Income	6,271	8,589	17,395	19,792
Operating Segments | Thermal Acoustical Solutions
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Consolidated Operating Income	7,923	10,607	29,357	40,798
Corporate Office Expenses
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Consolidated Operating Income	$ (6,214)	(6,975)	$ (18,777)	(18,775)
Accounting Standards Update 2017-07
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Other expense, net		$ 200		$ 600

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) $ in Millions	3 Months Ended			9 Months Ended	12 Months Ended
	Sep. 30, 2018USD ($)	Mar. 31, 2018USD ($)	Mar. 31, 2017USD ($)	Sep. 30, 2018USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Jun. 30, 2018USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2017CAD ($)	Jul. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Jul. 07, 2016USD ($)
Rochester, New Hampshire
Loss Contingencies [Line Items]
Expense associated with expected costs of site investigation		$ 100,000	$ 200,000
Rochester, New Hampshire | Environmental Contamination
Loss Contingencies [Line Items]
Reduction to accrual for environmental liability, payments						$ 200,000
Accrual for environmental liability, including revision (fully offset)	$ 0			$ 0		200,000	$ 100,000
Revision of estimate for environmental liability accrual	100,000
Accrual for environmental liability						0
Texel | Quebec, Canada
Loss Contingencies [Line Items]
Indemnification assets, minimum estimated outcome												$ 900,000
Indemnification assets, maximum estimated outcome										$ 1,500,000		$ 1,500,000
Environment remediation indemnity secured by environmental escrow account	2,300,000			2,300,000					$ 3
Environmental remediation indemnity secured by general escrow account	10,800,000			10,800,000					14
Environmental remediation indemnity secured by general escrow account, reduced amount after share purchase agreement	5,400,000			5,400,000					$ 7
Texel | Quebec, Canada | Environmental Contamination
Loss Contingencies [Line Items]
Reduction to accrual for environmental liability, payments				600,000		700,000
Accrual for environmental liability, including revision (fully offset)	200,000			200,000		$ 800,000		$ 1,500,000
Revision of estimate for environmental liability accrual				(600,000)
Accrual for environmental liability	$ 200,000			$ 200,000							$ 900,000
Forecast | Rochester, New Hampshire
Loss Contingencies [Line Items]
Expense associated with expected costs of site investigation					$ 200,000

Changes in Accumulated Other _3

Changes in Accumulated Other Comprehensive Income (Loss) - Summary (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at beginning of period	$ 353,396
Other comprehensive (loss) income	(9,173)	$ 23,944
Amounts reclassified from accumulated other comprehensive loss	595	516
Balance at end of period	377,049
Loss reclassified from AOCI for defined benefit pension plans	600	500
Tax benefit reclassified from AOCI for defined benefit pension plans	200	300
Total Accumulated Other Comprehensive (Loss) Income
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at beginning of period	(20,148)	(47,950)
Balance at end of period	(28,726)	(23,490)
Foreign Currency Translation Adjustment
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at beginning of period	(2,221)	(27,885)
Other comprehensive (loss) income	(9,262)	23,951
Amounts reclassified from accumulated other comprehensive loss	0	0
Balance at end of period	(11,483)	(3,934)
Defined Benefit Pension Adjustment
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at beginning of period	(18,049)	(20,065)
Other comprehensive (loss) income	0	0
Amounts reclassified from accumulated other comprehensive loss	595	516
Balance at end of period	(17,454)	(19,549)
Gains and Losses on Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at beginning of period	122	0
Other comprehensive (loss) income	89	(7)
Amounts reclassified from accumulated other comprehensive loss	0	0
Balance at end of period	$ 211	$ (7)