Lydall (LDL) 10-Q 28 Jul 20 2020 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2020	Jul. 15, 2020
Cover [Abstract]
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Entity Central Index Key	0000060977
Current Fiscal Year End Date	--12-31
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2020
Document Transition Report	false
Entity File Number	1-7665
Entity Registrant Name	LYDALL INC /DE/
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	06-0865505
Entity Address, Address Line One	One Colonial Road
Entity Address, City or Town	Manchester
Entity Address, State or Province	CT
Entity Address, Postal Zip Code	06042
City Area Code	860
Local Phone Number	646-1233
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	LDL
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Small Business	false
Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		17,760,777

Basis of Financial Statement Pr

Basis of Financial Statement Presentation	6 Months Ended
	Jun. 30, 2020
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. Recent Developments - COVID-19 The impact of the novel strain of the coronavirus identified in late 2019 (“COVID-19”) has grown throughout the world, including in all global and regional markets served by the Company. During the first quarter of 2020, governmental authorities implemented numerous measures attempting to contain and mitigate the effects of COVID-19, including travel bans and restrictions, quarantines, social distancing orders, shelter in place orders and shutdowns of non-essential activities. The Company’s manufacturing facilities are located in areas that have been affected by the pandemic and the shutdowns. Certain Company facilities in the United States, Europe and Asia carried out shutdowns as a result of government-imposed restrictions or in conjunction with customer plant closures during the first quarter. The Company’s Asia facilities did not resume operations until late February and other facilities ramped back up moderately, in line with customer demand, during the second quarter. Although the Company is beginning to see an increase in orders, it does not expect operations supporting the automotive markets to reach pre-COVID-19 production levels in the near term. Thermal Acoustical Solutions (“TAS”) Developments As previously disclosed, the Company ramped down its Thermal Acoustical Solutions operations in North Carolina, as well as in France and Germany coinciding with the shutdown of its major automotive customers' facilities in those regions beginning in late March 2020. During the first quarter of 2020, TAS sales were down 11.2% from 2019 as the pandemic expanded. April’s parts sales were heavily impacted by customer shutdowns with sales declining approximately 90% from the previous year. TAS began to ramp up production in mid-May 2020 in North America and Europe as customers began to re-open their plants in these regions, with sequential monthly sales growth in both May and June. However, given the facility shutdowns early in the quarter, parts sales in the second quarter were down 62.1% from the previous year. Technical Nonwovens (“TNW”) Developments During the first quarter of 2020, TNW experienced slowdowns in all geographic locations except Canada; predominantly in its facilities in South Carolina, the United Kingdom and China operations. TNW’s Texel business in Canada, however, is a leading supplier of nonwoven products used in the production of healthcare applications including medical wipes, pads, and gowns. In response to the COVID-19 pandemic, the Company re-prioritized its manufacturing capabilities in North America and Europe to focus on serving customers for these products. TNW’s sales in the first quarter of 2020 declined 12.5% from the comparable period in 2019. In the second quarter, softer industrial end markets and lower sales into automotive applications resulted in year over year sales decline in both April and May periods. While down from the prior year, sales in June increased sequentially from May, with seasonal increases in demand for geosynthetics and higher automotive demand partially offsetting weaker industrial end markets. Second quarter sales were down 25.0% in Industrial Filtration and 9.3% in Advanced Materials businesses. Performance Materials (“PM”) Developments Performance Materials’ sealing businesses also experienced slowdowns during the first quarter of 2020 as a result of its exposure to automotive end market applications, impacting the Sealing and Advanced Solutions business. In contrast, PM’s Filtration business has been deemed an essential supplier to certain customers which has driven incremental demand in specialty filtration product lines, including media used in N95 respirator, surgical, and medical masks. PM’s sales in the first quarter of 2020 were up 1.0% from the comparative period in 2019. PM’s Filtration sales were very strong in April, with gains of approximately 20.0% from the prior year, and this demand continued through the remainder of the quarter, with second quarter Filtration sales up 19.8% from the previous year. In contrast, exposure to automotive and other end markets resulted in sales decline of approximately 28.6% in the Sealing and Advanced Solutions business, with year over year sales declines spread across all months. As a result of continued strong demand for filtration products during the second quarter, the Company approved additional investments to add two production lines in Performance Materials’ Rochester facility for the production of meltblown filtration media used in the N95 respirator, surgical and medical masks based on the significant increase in demand. In addition, the Company reached an agreement with the U.S. Government that provides partial funding of the investment in the production lines in addition to funding for other technical resources. Looking Forward Any ramp up of production continues to be dependent on the Company’s customers resuming operations and no additional outbreaks of COVID-19 that could cause a second slow-down in demand impacting the Company’s ability to operate because of government mandates, employee illnesses or other related unforeseen events. The Company anticipates the global automotive industry will stabilize in the third quarter, but that volumes in the second half of 2020 will be lower than the comparative 2019 period as a result of the global economic slowdown caused by the COVID-19 pandemic. New vehicle sales are highly dependent on the strength of the consumer. If unemployment remains at higher levels, new vehicle sales could be significantly lower than historical and previously projected sales levels. The Company expects to face continued headwinds in its Performance Material's sealing businesses but stronger demand for filtration products is expected to offset this. Additionally, the Company expects seasonally strong construction activity driving geosynthetic demand, coupled with stable demand for medical related nonwoven products, to be offset by softness in industrial end markets in its Technical Nonwovens segment in the second half of 2020. Liquidity and Cash Preservation The recent automotive production ramp down across most of the world has impacted the Company's daily working capital significantly. The Company experienced working capital cash flow improvements through June 30, 2020 but does not expect the benefits to continue if production does not further ramp up. Upon ramping up production, the Company expects initial cash outflows to support working capital requirements and capital projects for its investments in new meltblown production equipment followed by a more normalized working capital flow over time. The Company has also taken significant measures to reduce its overall cash expenditures, including the furlough or lay-off of hourly/salary plant workers and select furloughs of corporate and other salaried employees, deferred company contributions to its pension plans and matching contributions under the Company's 401(k) defined contribution plan, reduction of purchase obligations for raw materials and reduction/delay of non-critical capital spending. With these actions initiated in early 2020, the Company has reduced its monthly cash expenditures and plans to continue to do so as long as the COVID-19 pandemic continues. In addition, the Company has taken advantage of specific benefits, including wage recovery provided by social programs in Europe and China and deferred domestic employer tax in the U.S. through the Coronavirus Aid, Relief and Economic Security (“CARES”) Act. Through June 30, 2020, the Company benefited from $1.7 million in social cost reimbursements predominately in Europe and China. The Company plans to continue to pursue, wherever it qualifies, governmental assistance. The Company may also take advantage of governmental programs such as the Main Street Lending Program, to help defray costs. The Company cannot guarantee, however, that it will qualify for, or receive, any additional assistance that it pursues. As noted above, the Company reached an agreement with the U.S. Government in June 2020 that provides funding to cover a portion of the cost to install two new production lines for the production of meltblown material for N95 respirator, surgical and medical masks and for other technical resources. The Company will receive monthly payments in accordance with the agreement to fund up to $13.5 million. In addition to the significant measures taken to reduce and contain costs, the Company took action in March 2020 to provide additional liquidity, primarily including a $20.0 million draw down on its amended credit facility. On May 11, 2020, the Company entered into an amended credit agreement (see Note 6, "Long-term Debt and Financing Arrangements" for the key amended terms and conditions) to modify certain financial maintenance covenants, at least one of which the Company expected to fail during the second quarter of 2020 as a result of the impact of COVID-19. The Company was in compliance with those modified financial covenants as of and for the three-month period ended June 30, 2020, and management does not anticipate noncompliance in the foreseeable future. During the first half of 2020, the Company generated $40.4 million of net cash provided by operations and had cash on hand of $92.5 million as of June 30, 2020. The Company continues to maintain the necessary capital to meet its debt obligations and interest payments. As previously disclosed in late 2019, the Company entered into arrangements with a banking institution to sell trade accounts receivable balances for selected customers. The Company continues to sell trade accounts receivable balances under these arrangements. See Transfer of Financial Assets under Note 1, “Basis of Financial Statement Presentation” for more information. The spread of COVID-19 and the measures taken to constrain the spread of the virus have had, and will continue to have, a material negative impact on the Company’s financial results, and such negative impact may continue well beyond the containment of such outbreak. There is inherent uncertainty in the assumptions the Company uses to estimate its future liquidity due to the impact of the COVID-19 outbreak. In addition, the magnitude, duration and speed of the global pandemic is uncertain. Consequently, the impact on the Company's business, financial condition or longer-term financial or operational results is uncertain. However, management believes, based on the actions taken to reduce cash expenditures and the Company’s financial position that net cash provided by operations combined with its cash and cash equivalents and borrowing availability under its Credit Facility will be sufficient to fund its current obligations, capital spending, debt service requirements and working capital needs over at least the next twelve months. Steps Taken to Protect Employees The Company continues to monitor the global outbreak and spread of COVID-19 and to take steps to mitigate the potential risks to the Company and its employees posed by its spread and related circumstances and economic impacts. As the Company’s operations ramp up production and bring employees back to work, it has implemented changes to help ensure the safety and health of all our employees and continues to assess and update its business continuity plans in the context of this pandemic. The Company established the Lydall Emergency Preparedness Team (“LEPT”), implementing strict travel restrictions, enforcing rigorous hygiene protocols, increasing sanitization efforts at all facilities and implementing remote working arrangements for the majority of its employees who work outside the plants. The Company will continue its work to ensure it maintains a safe and healthy work environment and continue to allow remote working arrangements as long as necessary where appropriate. 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 audited financial statements for the year ended December 31, 2019, but does not include all disclosures required by U.S. GAAP. In the opinion of management, the condensed consolidated financial information reflects all adjustments necessary for a fair statement of the Company’s consolidated financial position, results of operations and cash flows for the interim periods reported, but do not include all the disclosures required by U.S. GAAP. All such adjustments are of a normal recurring nature, unless otherwise disclosed in this report. Certain amounts in prior year financial statements and notes thereto have been reclassified to conform to current year presentation. The statements should be read in conjunction with the consolidated financial statements and accompanying notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019. Use of Estimates The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. The full extent to which the COVID-19 pandemic will directly or indirectly impact the Company’s business, results of operations and financial condition, including sales, expenses, reserves and allowances, manufacturing, research and development costs and employee-related amounts, will depend on future developments that are highly uncertain, including as a result of new information that may emerge concerning COVID-19 and the actions taken to contain it or treat COVID-19. The Company has made estimates of the impact of COVID-19 within its financial statements and there may be changes to those estimates in future periods. Actual results could differ from those estimates. Recent Accounting Pronouncements Adopted Effective January 1, 2020, the Company adopted the Financial Accounting Standards Board ("FASB") Accounting Standards Update ("ASU") 2016-13, "Financial Instruments - Credit Losses (Topic 326)." The new standard amends guidance on reporting credit losses for assets held at amortized cost basis. The Company has determined the only financial assets subject to the new standard are its trade receivables and contract assets. The adoption of this ASU did not have any impact on the Company’s consolidated financial statements and disclosures. Effective January 1, 2020, the Company adopted the FASB issued ASU 2018-13, "Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement," 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. Please refer to Note 5, “Impairments of Goodwill and Other Long-Lived Assets”, for discussion of the inputs used in the quantitative impairment assessments for the three-month period ended March 31, 2020. Effective January 1, 2020, the Company adopted 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 adoption of this ASU did not have any impact on the Company’s consolidated financial statements and disclosures. In March 2020, the FASB issued ASU 2020-04, " Reference Rate Reform (Topic 848); Facilitation of the Effects of Reference Rate Reform on Financial Reporting." The amendments in this update are elective, and provide optional expedients and exceptions in accounting for contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. The guidance in this update is effective for transactions entered into between March 12, 2020 and December 31, 2022. The Company adopted this ASU upon issuance and notes no impact to the Company's consolidated financial statements and disclosures as of June 30, 2020. Recent Accounting Pronouncements Not Yet Adopted In January 2020, the FASB issued ASU 2020-01, "Investments—Equity Securities (Topic 321), Investments—Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815)." The amendments in this update are intended to reduce diversity in practice and increase comparability of the accounting for interaction of equity securities, investments accounted for under the equity method of accounting, and the accounting for certain forward contracts and purchased options accounted for under Topic 815. This ASU is effective for fiscal years and interim periods beginning after December 15, 2020 with early adoption permitted. The Company is currently evaluating the impact of this update on its consolidated financial statements and related disclosures. In December 2019, the FASB issued ASU 2019-12, "Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes". The new standard is intended to simplify accounting for income taxes by removing certain exceptions to the general principles in Topic 740, and by clarifying and amending existing guidance in other areas of the same topic. This ASU is effective for fiscal years and interim periods beginning after December 15, 2020 with early adoption permitted. 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 impact the adoption of this ASU will have on its consolidated financial statements and 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, 2019. Risks and Uncertainties Worldwide economic cycles, political changes and the COVID-19 pandemic affect the markets that the Company’s businesses serve and affect demand for the Company's products and could impact profitability. Among other factors, disruptions in the global credit and financial markets, including diminished liquidity and credit availability, changes in international trade agreements, swings in consumer confidence and spending, unstable economic growth and fluctuations in unemployment rates has caused economic instability and can have a negative impact on the Company’s results of operations, financial condition and liquidity. Transfers of Financial Assets In December 2019, the Company entered into two arrangements with a banking institution to sell trade accounts receivable balances for select customers. Under the programs, the Company has no risk of loss due to credit default, with the exception of $0.5 million of trade accounts receivable balances sold from our foreign operations, and is charged a fee based on the nominal value of receivables sold and the time between the sale of the trade accounts receivables to banking institutions and collection from the customer. Under one of the programs, the Company services the trade receivables after sale and receives 90.0% of the trade receivables in cash at the time of sale and the remaining 10.0% in cash, net of fees, at the earlier of customer payment or 150 days. In the three-month and six-month periods ended June 30, 2020, under both programs, the Company sold $10.3 million and $43.0 million, respectively, in trade receivable balances, received $40.0 million in total cash under the programs, and incurred $0.1 million in fees. The Company expects to receive the remainder, net of fees, in the third quarter of 2020. Condensed Consolidated Statements of Comprehensive Income In connection with the preparation of its 2019 audited financial statements, the Company identified that in its previously filed unaudited interim financial statements for the three-month and six-month periods ended June 30, 2019 and the nine-month period ended September 30, 2019, the Company had incorrectly excluded from its Condensed Consolidated Statements of Comprehensive Income the impact to comprehensive income resulting from the settlement of its U.S. Lydall Pension Plan (see Note 11, "Employer Sponsored Benefit Plans"). As a result, unaudited comprehensive income for such periods was understated by approximately $19.0 million. This error did not have any impact on the Company’s corresponding previously filed Condensed Consolidated Balance Sheets, Condensed Consolidated Statements of Operations or Condensed Consolidated Statements of Cash Flows. Management has concluded that such errors did not result in the previously issued unaudited financial statements being materially misstated. The Company will revise the Condensed Consolidated Statements of Comprehensive Income for the nine-month period ended September 30, 2019 in connection with the future filing of its Quarterly Report on Form 10-Q for the period ended September 30, 2020. In connection with the filing of this Quarterly Report on Form 10-Q, the Company did, however, revise the Condensed Consolidated Statements of Comprehensive Income for the three-month and six-month periods ended June 30, 2019 as follows: Three Months Ended June 30, 2019 Six Months Ended June 30, 2019 In thousands As reported As revised As reported As revised Pension liability adjustment, net of tax $ 143 $ 19,159 $ 358 $ 19,374 Comprehensive (loss) income $ (5,697) $ 13,319 $ (2,394) $ 16,622

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Statement [Abstract]
Net sales	$ 146,160	$ 220,811	$ 346,687	$ 438,836
Cost of sales	117,742	175,536	279,701	351,505
Gross profit	28,418	45,275	66,986	87,331
Selling, product development and administrative expenses	30,164	32,096	63,191	65,102
Impairment of goodwill and other long-lived assets	0	0	61,109	0
Operating (loss) income	(1,746)	13,179	(57,314)	22,229
Employee benefit plans settlement expenses	0	25,515	385	25,515
Interest expense	4,476	3,731	7,333	7,359
Other expense (income), net	248	(873)	(170)	(474)
Loss before income taxes	(6,470)	(15,194)	(64,862)	(10,171)
Income tax benefit	(595)	(8,199)	(2,610)	(7,093)
(Income) loss from equity method investment	(18)	(49)	26	(22)
Net loss	$ (5,857)	$ (6,946)	$ (62,278)	$ (3,056)
Loss per share:
Basic (USD per share)	$ (0.34)	$ (0.40)	$ (3.59)	$ (0.18)
Diluted (USD per share)	$ (0.34)	$ (0.40)	$ (3.59)	$ (0.18)
Weighted average number of common shares outstanding:
Basic (shares)	17,372	17,267	17,354	17,260
Diluted (shares)	17,372	17,267	17,354	17,260

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Statement of Comprehensive Income [Abstract]
Net loss	$ (5,857)	$ (6,946)	$ (62,278)	$ (3,056)
Other comprehensive income (loss):
Foreign currency translation adjustments	5,146	2,457	(4,811)	2,330
Pension liability adjustment, net of tax	0	19,159	331	19,374
Unrealized loss on hedging activities, net of tax	(685)	(1,351)	(239)	(2,026)
Comprehensive (loss) income	$ (1,396)	$ 13,319	$ (66,997)	$ 16,622

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 92,546	$ 51,331
Accounts receivable, net of allowance for doubtful accounts of $2,647 and $1,842, respectively	100,767	107,786
Contract assets	27,969	28,245
Inventories	80,300	80,544
Taxes receivable	2,235	3,427
Prepaid expenses	4,389	3,814
Other current assets	8,562	8,450
Total current assets	316,768	283,597
Property, plant and equipment, at cost	483,013	487,371
Accumulated depreciation	(276,577)	(265,729)
Property, plant and equipment, net	206,436	221,642
Operating lease right-of-use assets	21,392	23,116
Goodwill	83,951	133,912
Other intangible assets, net	104,595	115,577
Other assets, net	7,391	8,093
Total assets	740,533	785,937
Current liabilities:
Current portion of long-term debt	9,855	9,928
Accounts payable	78,108	73,426
Accrued payroll and other compensation	20,130	17,198
Accrued taxes	11,152	5,638
Other accrued liabilities	25,106	23,668
Total current liabilities	144,351	129,858
Long-term debt	275,655	262,713
Long-term operating lease liabilities	17,157	18,424
Deferred tax liabilities	28,327	34,561
Benefit plan liabilities	18,528	18,957
Other long-term liabilities	3,253	3,004
Commitments and Contingencies (Note 15)
Stockholders’ equity:
Preferred stock	0	0
Common stock	255	253
Capital in excess of par value	95,985	94,140
Retained earnings	278,351	340,629
Accumulated other comprehensive loss	(30,698)	(25,979)
Treasury stock, at cost	(90,631)	(90,623)
Total stockholders’ equity	253,262	318,420
Total liabilities and stockholders’ equity	740,533	785,937
Allowances of accounts receivable	$ 2,647	$ 1,842

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Allowances of accounts receivable	$ 2,647	$ 1,842

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash flows from operating activities:
Net loss	$ (62,278)	$ (3,056)
Adjustments to reconcile net loss to net cash provided by operating activities:
Gain on divestiture	0	(1,459)
Depreciation and amortization	24,842	24,001
Impairment of goodwill and long-lived assets	61,109	0
Deferred income taxes	(6,048)	(12,358)
Employee benefit plans settlement expenses	385	25,515
Stock-based compensation	1,799	1,475
Other, net	53	0
Loss on disposition of property, plant and equipment	25	0
Loss (Income) from equity method investment	26	(22)
Changes in operating assets and liabilities:
Accounts receivable	3,063	(1,988)
Contract assets	222	1,231
Inventories	(353)	(4,660)
Accounts payable	8,342	10,227
Accrued payroll and other compensation	2,974	3,000
Accrued taxes	5,833	308
Other, net	421	(5,995)
Net cash provided by operating activities	40,415	36,219
Cash flows from investing activities:
Capital expenditures	(15,472)	(20,287)
Collections of finance receivables	3,390	0
Proceeds from divestiture	0	2,298
Proceeds from the sale of property, plant and equipment	2	295
Business acquisitions, net of cash acquired	0	869
Net cash used for investing activities	(12,080)	(16,825)
Cash flows from financing activities:
Proceeds from borrowings	20,000	0
Debt repayments	(7,001)	(25,169)
Common stock issued	33	0
Common stock repurchased	(8)	(43)
Net cash provided by (used for) financing activities	13,482	(25,212)
Effect of exchange rate changes on cash	(602)	(3)
Increase (decrease) in cash and cash equivalents	41,215	(5,821)
Cash and cash equivalents at beginning of period	51,331	49,237
Cash and cash equivalents at end of period	92,546	43,416
Factoring liability	$ 458	$ 0

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Statement of Cash Flows [Abstract]
Non-cash capital expenditures	$ 2.7	$ 2.3

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Adjustment	[1]	Common Stock	Capital in Excess of Par Value	Retained Earnings	Retained EarningsRevision of Prior Period, Accounting Standards Update, Adjustment	[1]	Retained EarningsAdjustment	[1]	Accumulated Other Comprehensive Loss	Treasury Stock
Accounting Standards Update	us-gaap:AccountingStandardsUpdate201409Member
Balance at beginning of period (shares) at Dec. 31, 2018				25,254
Balance at beginning of period at Dec. 31, 2018	$ 369,275	$ (183)		$ 253	$ 90,851	$ 411,325	$ (200)		$ (183)		$ (42,685)	$ (90,469)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(3,056)					(3,056)
Other comprehensive income (loss), net of tax	19,678										19,678
Stock repurchased	(55)											(55)
Stock issued (canceled) under employee plans (shares)				(29)
Stock issued under employee plans	12				12
Stock-based compensation expense	1,194				1,194
Stock issued to directors (shares)				10
Stock issued to directors	240				240
Balance at end of period (shares) at Jun. 30, 2019				25,235
Balance at end of period at Jun. 30, 2019	387,105			$ 253	92,297	408,086					(23,007)	(90,524)
Balance at beginning of period (shares) at Mar. 31, 2019				25,228
Balance at beginning of period at Mar. 31, 2019	373,214			$ 252	91,713	415,032					(43,272)	(90,511)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(6,946)					(6,946)
Other comprehensive income (loss), net of tax	20,265										20,265
Stock repurchased	(13)											(13)
Stock issued (canceled) under employee plans (shares)				(3)
Stock issued under employee plans	13			$ 1	12
Stock-based compensation expense	332				332
Stock issued to directors (shares)				10
Stock issued to directors	240				240
Balance at end of period (shares) at Jun. 30, 2019				25,235
Balance at end of period at Jun. 30, 2019	387,105			$ 253	92,297	408,086					(23,007)	(90,524)
Balance at beginning of period (shares) at Dec. 31, 2019				25,328
Balance at beginning of period at Dec. 31, 2019	318,420			$ 253	94,140	340,629					(25,979)	(90,623)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(62,278)					(62,278)
Other comprehensive income (loss), net of tax	(4,719)										(4,719)
Stock repurchased	(8)											(8)
Stock issued (canceled) under employee plans (shares)				93
Stock issued under employee plans	32			$ 2	30
Stock-based compensation expense	1,455				1,455
Stock issued to directors (shares)				46
Stock issued to directors	360				360
Balance at end of period (shares) at Jun. 30, 2020				25,467
Balance at end of period at Jun. 30, 2020	253,262			$ 255	95,985	278,351					(30,698)	(90,631)
Balance at beginning of period (shares) at Mar. 31, 2020				25,401
Balance at beginning of period at Mar. 31, 2020	253,577			$ 254	94,905	284,208					(35,159)	(90,631)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(5,857)					(5,857)
Other comprehensive income (loss), net of tax	4,461										4,461
Stock issued (canceled) under employee plans (shares)				23
Stock issued under employee plans	1			$ 1
Stock-based compensation expense	720				720
Stock issued to directors (shares)				43
Stock issued to directors	360				360
Balance at end of period (shares) at Jun. 30, 2020				25,467
Balance at end of period at Jun. 30, 2020	$ 253,262			$ 255	$ 95,985	$ 278,351					$ (30,698)	$ (90,631)
[1]	During the three-month period ended March 31, 2019, the Company recorded an adjustment reducing retained earnings and contract assets by $0.2 million to correct an error in the adoption of ASC 606.

Revenue from Contracts with Cus

Revenue from Contracts with Customers	6 Months Ended
	Jun. 30, 2020
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". 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. 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. Unfulfilled performance obligations are generally expected to be satisfied within one year. 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 long-term liabilities on the Company’s Condensed Consolidated Balance Sheets. Contract assets and liabilities consisted of the following: In thousands June 30, 2020 December 31, 2019 Dollar Change Contract assets $ 27,969 $ 28,245 $ (276) Contract liabilities $ 3,762 $ 1,441 $ 2,321 The $0.3 million decrease in contract assets from December 31, 2019 to June 30, 2020 was primarily due to timing of billings to customers. The $2.3 million increase in contract liabilities from December 31, 2019 to June 30, 2020 was primarily due to an increase in customer deposits, offset by $0.9 million of revenue recognized in the first six months of 2020 related to contract liabilities at December 31, 2019. 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 three-month and six-month periods ended June 30, 2020 and 2019 were as follows: For the Three Months Ended June 30, 2020 In thousands Performance Materials Technical Nonwovens Thermal Acoustical Solutions Eliminations and Other Consolidated Net Sales North America $ 40,190 $ 31,236 $ 22,575 $ (1,668) $ 92,333 Europe 16,501 15,418 11,424 (100) 43,243 Asia 1,782 5,353 3,449 — 10,584 Total Net Sales $ 58,473 $ 52,007 $ 37,448 $ (1,768) $ 146,160 For the Three Months Ended June 30, 2019 In thousands Performance Materials Technical Nonwovens Thermal Acoustical Solutions Eliminations and Other Consolidated Net Sales North America $ 47,822 $ 42,667 $ 64,235 $ (6,466) $ 148,258 Europe 15,729 17,791 25,203 (175) 58,548 Asia 1,551 8,620 3,834 — 14,005 Total Net Sales $ 65,102 $ 69,078 $ 93,272 $ (6,641) $ 220,811 For the Six Months Ended June 30, 2020 In thousands Performance Materials Technical Nonwovens Thermal Acoustical Solutions Eliminations and Other Consolidated Net Sales North America $ 86,107 $ 66,967 $ 79,676 $ (7,345) $ 225,405 Europe 33,776 32,356 34,964 (280) 100,816 Asia 3,810 10,087 6,569 — 20,466 Total Net Sales $ 123,693 $ 109,410 $ 121,209 $ (7,625) $ 346,687 For the Six Months Ended June 30, 2019 In thousands Performance Materials Technical Nonwovens Thermal Acoustical Solutions Eliminations and Other Consolidated Net Sales North America $ 94,199 $ 79,856 $ 127,837 $ (12,734) $ 289,158 Europe 32,386 36,840 51,645 (381) 120,490 Asia 3,097 17,988 8,103 — 29,188 Total Net Sales $ 129,682 $ 134,684 $ 187,585 $ (13,115) $ 438,836

Inventories

Inventories	6 Months Ended
	Jun. 30, 2020
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories as of June 30, 2020 and December 31, 2019 were as follows: In thousands June 30, December 31, Raw materials $ 35,148 $ 36,322 Work in process 15,531 14,873 Finished goods 29,621 29,349 Total inventories $ 80,300 $ 80,544

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	6 Months Ended
	Jun. 30, 2020
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. There were no such events or changes in circumstances during the three month period ended June 30, 2020. See Note 5, "Impairments of Goodwill and Other Long-Lived Assets", for discussion of the goodwill impairment recorded during the three month period ended March 31, 2020. The changes in the carrying amount of goodwill by segment as of and for the six-month period ended June 30, 2020 were as follows: In thousands December 31, Currency translation adjustments Impairment June 30, Performance Materials $ 80,658 $ (45) $ (48,671) $ 31,942 Technical Nonwovens 53,254 (1,245) — 52,009 Total goodwill $ 133,912 $ (1,290) $ (48,671) $ 83,951 Goodwill Impairment During the three-month period ended March 31, 2020, the Company performed a goodwill impairment analysis in the Performance Materials and Technical Nonwovens reporting units and recorded a goodwill impairment charge of $48.7 million in the Performance Materials reporting unit. See Note 5, "Impairments of Goodwill and Other Long-Lived Assets", for further discussion of the goodwill impairment. 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 June 30, 2020 and December 31, 2019: June 30, 2020 December 31, 2019 In thousands Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Amortized intangible assets Customer Relationships $ 141,462 $ (39,622) $ 142,400 $ (30,648) Patents 760 (661) 759 (607) Technology 2,500 (1,060) 2,500 (977) Trade Names 7,205 (5,989) 7,293 (5,143) License Agreements 611 (611) 610 (610) Other 550 (550) 551 (551) Total amortized intangible assets $ 153,088 $ (48,493) $ 154,113 $ (38,536)

Impairments of Goodwill and Oth

Impairments of Goodwill and Other Long-Lived Assets	6 Months Ended
	Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Impairments of Goodwill and Other Long-Lived Assets	Impairments of Goodwill and Other Long-Lived Assets During the three-month period ended March 31, 2020, the Company experienced disruptions in some operations from lower customer demand directly attributable to the COVID-19 pandemic. Many of the Company's automotive customers temporarily ceased operations due to the impact of the COVID-19 pandemic on the global economy resulting in the following: • The Company’s China facilities carried out a planned shut down in conjunction with the lunar New Year in late January which was extended to late February as a result of government imposed restrictions. The facilities did not resume operations until late February and ramped back up moderately in line with customer demand. Currently, all of the Company’s plants in China are operating and all of its automotive customer plants in China have re-opened. The Company has not experienced any significant disruption it its supply chains in China since resuming operations; • On March 20, 2020, the Company announced ramp downs at its Thermal Acoustical Solutions ("TAS") operations in North America and Europe as a direct result of customer stoppages; • Leading economic indicators began to signal a broad economic recession and a future decline in automotive sales; • Certain of the Company’s Performance Materials ("PM") and Technical Nonwovens ("TNW") operations with exposure to automotive end markets also experienced reductions in sales, which, in some cases, have been partially offset by increases in sales of other products. These operations also have exposure to various industrial end markets. Leading economic indicators for certain of these markets also began signaling a downturn in demand; and • The Company's share price and market capitalization experienced a significant decline. The Company considered the combination of the above to be triggering events that required an impairment analysis for the goodwill held at the PM and TNW reporting units, and for certain long-lived assets. Therefore, during the three-month period ended March 31, 2020, in accordance with both ASC 350 Intangibles - Goodwill and Other , and with ASC 360 Property, Plant & Equipment , the Company performed an impairment analysis of its goodwill held by the PM and TNW reporting units, and on certain of its long-lived assets (principally land, machinery and equipment, customer relationships, and buildings and improvements). As a result of these impairment tests, the Company recorded the following impairment charges during the three-month period ended March 31, 2020: In thousands Performance Materials Technical Nonwovens Thermal Acoustical Solutions Totals Impairment of goodwill $ 48,671 $ — $ — $ 48,671 Impairment of other long-lived assets 12,438 — — 12,438 Total impairments $ 61,109 $ — $ — $ 61,109 Goodwill During the three-month period ended March 31, 2020, the Company performed a quantitative goodwill impairment assessment for both the PM and TNW reporting units. In the quantitative impairment assessment, the Company weighted equally both an income approach (discounted cash flow model) and a market approach to determine the fair value of the reporting units. The Company’s significant assumptions in the discounted cash flow model included, but were not limited to, future cash flow projections, the weighted average cost of capital, the terminal growth rate, and the tax rate. Lower expected demand in automotive and other end markets due to the COVID-19 pandemic resulted in a reduction in sales and cash generation projections as compared to prior projections for the reporting units. Projected future cash flows includes management estimates and assumptions that are based on the best available information as of the date of the assessment. Future cash flows can be affected by numerous factors including changes in economic, industry or market conditions, changes in the underlying business or products of the reporting unit, changes in competition and changes in technology. The cash flows of the Company's reporting units can be significantly affected by the depth of the estimated decline in automotive and other end markets and our estimates of the pace and level of their recovery as well as the ability of the Company to increase production in response to the recovery. The weighted average cost of capital for the PM reporting unit increased from 9.2 percent in the three-month period ended December 31, 2019 to 11.5 percent in the three-month period ended March 31, 2020. The weighted average cost of capital for the TNW reporting unit increased from 9.2 percent in the three-month period ended December 31, 2019 to 10.8 percent in the three-month period ended March 31, 2020. There are inherent uncertainties and management judgment required in an analysis of goodwill impairment. The Company believes the income approach was appropriate because it provided a fair value estimate based upon the reporting unit's expected long-term operations and cash flow performance. The Company also used a form of the market approach, which was derived from metrics of publicly traded companies or historically completed transactions of comparable businesses. The selection of comparable businesses is based on the markets in which the reporting unit operates giving consideration to risk profiles, size, geography, and diversity of products and services. The EBITDA multiples used in the market approach for both reporting units declined from the three-month period ended December 31, 2019 to the three-month period ended March 31, 2020 due to market-related changes in the industries in which these reporting units operate as a result of COVID-19. Other assumptions included adding an implied control premium to the valuation based on estimating the fair value on a controlling basis, which was derived from research on control premiums observed in recent mergers and acquisitions in the industries in which the Company operates. The control premium for both reporting units increased by 5 percent from the three-month period ended December 31, 2019 to the three-month period ended March 31, 2020. Control premiums can be higher in periods of depressed stock prices. The Company believes the market approach was appropriate because it provided a fair value using multiples from companies with operations and economic characteristics similar to the PM reporting unit. The Company also performed an overall reconciliation to corroborate the fair value derived from the income and market approaches to the Company's overall market capitalization. The revised projections, together with a deterioration in the inputs described above, drove a reduction in the fair value of both reporting units. As a result, the carrying value of the PM reporting unit was determined to exceed its fair value by $48.7 million, resulting in the impairment charge. After the impairment charge incurred during the three-month period ended March 31, 2020, the remaining goodwill associated with the PM reporting unit was $31.9 million. The fair value of the TNW reporting unit exceeded its carrying value and therefore no impairment was required. Any declines in financial projections, including changes to key assumptions, could have a material adverse impact on the fair value of the reporting units, and therefore could result in further impairment charges. In the three-month period ended December 31, 2019, as part of its annual impairment assessment, the Company determined that the fair value of the PM reporting unit was less than its carrying value and recorded a goodwill impairment of $63.0 million. Other Long-Lived Assets During the three-month period ended March 31, 2020, the Company performed the following impairment assessments for long lived assets in accordance with ASC 360: • As a result of the COVID 19 pandemic and the Company's action plan to address the risks associated with it, the Company accelerated certain actions. One such action was a review of a low-performing European plant within the PM segment. As a result of a strategic shift regarding this plant, the Company performed an impairment assessment on the long-lived assets of the plant. To determine the recoverability of this asset group, the Company completed an undiscounted cash flow analysis (income approach) and compared it to the asset group carrying value. The impairment test concluded that the assets were not recoverable as the resulting undiscounted cash flows were less than their carrying amount. The Company determined that the carrying value of the assets exceeded their fair value and recorded a long-lived asset impairment charge of $12.4 million. • As a result of the temporary plant closures announced on March 20, 2020 in response to the COVID-19 pandemic's effects on the automotive sector, the Company performed impairment assessments on the long-lived assets for its TAS plants. The Company considered each operating plant's asset group, primarily consisting of machinery and equipment, and buildings and improvements. To determine the recoverability of each asset group, the Company completed an undiscounted cash flow analysis (income approach) and compared it to each asset groups' carrying value. For two of the asset groups, the undiscounted cash flows exceeded the carrying value of the asset group so no further assessment of impairment was necessary. For two of the European plants, the undiscounted cash flows did not exceed the plants' carrying values. As part of step two of the impairment assessment, the Company used the market approach to determine fair value based on independent appraisals of the long-lived assets. The Company determined that impairment was not necessary since the fair value of the long-lived asset groups for each operating plant exceeded their carrying amounts. There were no events or circumstances during the three-month period ended June 30, 2020 that indicated any further triggering events under ASC 360 were present. Changes in future operating results could result in a future non-cash impairment charge.

Long-term Debt and Financing Ar

Long-term Debt and Financing Arrangements	6 Months Ended
	Jun. 30, 2020
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 ("2018 Credit Agreement") which 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. On May 11, 2020, the Company amended its 2018 Credit Agreement ("2020 Amendment") which, among other changes, decreased borrowings from $450 million to $314 million and modified certain financial covenants contained in the 2018 Credit Agreement. 2018 Credit Agreement Under the terms of the 2018 Credit Agreement, the lenders provided up to a $450 million credit facility (the “Facility”) to the Company, including 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 was secured by substantially all of the assets of the Company. Interest was 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 2018 Credit Agreement). The Applicable Rate added to the Base Rate Committed Loans ranged from 0.00% to 1.25%, and the Applicable Rate added to Eurocurrency Rate Committed Loans and Letters of Credit ranged from 0.75% to 2.00%. The Company paid a quarterly fee ranging from 0.15% to 0.275% on the unused portion of the revolving commitment. The Company has an interest rate swap in place to convert a portion of the Company's borrowings from a variable rate to a fixed rate. See Note 7, "Derivatives" for additional information. 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 was generally permitted to irrevocably cancel unutilized portions of the revolving commitments under the 2018 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 2018 Credit Agreement contained covenants required of the Company and its subsidiaries, including various affirmative and negative financial and operational covenants. The Company was 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 2018 Credit Agreement, may not be lower than 1.25 to 1.0; and (ii) a Consolidated Net Leverage Ratio, which required 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 2018 Credit Agreement, could not be greater than 3.5 to 1.0. 2020 Amendment to the 2018 Credit Agreement On May 11, 2020, the Company amended its $450 million senior secured revolving 2018 Credit Agreement. The principal purpose of the Amendment was to modify certain financial covenants contained in the 2018 Credit Agreement, at least one of which the Company expected to fail as early as the second quarter of 2020 as a result of the impact of COVID-19. The amended terms and conditions included the following: • Modified the financial covenants as follows: ◦ Consolidated Net Leverage Ratio, which requires that on the last day of each fiscal quarter the ratio not be greater than 6.5:1 through the period ending March 31, 2021, 4.50:1 for the period ending June 30, 2021 through the period ending March 31, 2022, and 3.50:1 for the periods ending June 30, 2022 and thereafter; ◦ The minimum Consolidated Fixed Charge Coverage Ratio, which requires that on the last day of each fiscal quarter the ratio not be lower than 1.10:1 calculated on a trailing twelve month basis through the period ending June 30, 2020, 1.25:1 calculated on a distinct quarterly basis for the periods ended September 30, 2020 through June 30, 2021, and 1.25:1 calculated on a trailing twelve month basis beginning with the period ending September 30, 2021 and thereafter; • Required the Company maintain a minimum cash and cash equivalents balance of $40 million, excluding deposit accounts in China; • Decreased the term loan facility from $200 million to $144 million and decreased the revolving credit facility from $250 million to $170 million for a total overall facility of $314 million; and eliminated the accordion feature; • Established a floor on the Base and Eurocurrrency Rate of 1%; • Modified the definition of the Applicable Rate, as determined based on the Company’s Consolidated Net Leverage Ratio, by increasing the range for the Base Rate for Committed Loans to 2.00% to 3.25% and increasing the range for the Eurocurrency Rate Committed Loans and Letters of Credit to 3.00% to 4.25%; • Increased the quarterly commitment fee to 0.375% on the unused portion of the revolving commitment; and • Required the Company to pay an amendment fee to the Lenders based on their commitment levels. There was no modification to the maturity date of the facility. The Company believes that its liquidity resources, including the Facility, are sufficient to meet its working capital needs and other cash requirements. The Company was in compliance with the modified financial covenants at June 30, 2020, and management does not anticipate noncompliance in the foreseeable future. At June 30, 2020, the Company had $286.0 million of borrowings outstanding and standby letters of credit outstanding of $1.6 million. The borrowings outstanding included a $141.0 million term loan, net of $0.5 million in debt issuance costs being amortized to interest expense over the debt maturity period. The Company has available borrowings of $23.9 million and $121.6 million at June 30, 2020 and December 31, 2019, respectively. In addition to the amounts outstanding under the Facility, the Company has various foreign credit facilities totaling approximately $7.1 million. At June 30, 2020, the Company's foreign subsidiaries had $0.1 million in borrowings outstanding as well as $1.3 million in standby letters of credit outstanding. The Company also has finance lease agreements for machinery and equipment at multiple operations requiring monthly principal and interest payments through 2020. Total outstanding debt consists of: In thousands Effective Rate Maturity June 30, 2020 December 31, 2019 Revolver loan 5.25 % 8/31/2023 $ 144,500 $ 126,500 Term loan, net of debt issuance costs 5.25 % 8/31/2023 140,996 146,106 Finance leases 1.60 % 2020 14 35 285,510 272,641 Less portion due within one year (9,855) (9,928) Total long-term debt, net of debt issuance costs $ 275,655 $ 262,713 The weighted average interest rate on long-term debt was 4.8% for the six-month period ended June 30, 2020 and 4.3% for the year-ended December 31, 2019.

Derivatives

Derivatives	6 Months Ended
	Jun. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives	DerivativesThe Company selectively uses financial instruments to manage market risk associated with exposure to fluctuations in interest rates and foreign currency rates. These financial exposures are monitored and managed by the Company as an integral part of its risk management program. Interest Rate Hedging 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 (see Note 8, "Fair Value Measurements" for additional information). In November 2018, the Company entered into a five three On May 11, 2020, the Company amended its 2018 Credit Agreement, see Note 6, "Long-term Debt and Financing Arrangements". The amendment included, among other modifications, the establishment of a floor on the base and Eurocurrency rate of 1%. As a result, the Company determined that the critical terms of the swap no longer matched the critical terms of the hedged debt and performed an assessment of the effectiveness of the interest rate swap agreement. The Company concluded the interest rate swap agreement is no longer effective. The Company also concluded that the hedged forecasted transaction (the occurrence of variable interest rate payments on the hedged debt) continues to be probable of occurring. Therefore, as of May 11, 2020, the Company discontinued hedge accounting. After May 11, 2020 any fair value gains or losses on the derivative agreement is recorded as interest expense in the Company's Consolidated Statement of Operations. The cumulative loss on the discontinued hedge relationship through May 11, 2020, which was recorded in Accumulated Other Comprehensive Income, will be amortized into (losses) earnings through August 31, 2023, the maturity date of the hedged debt. The loss included in Accumulated Other Comprehensive Income related to the discontinued hedging relationship at June 30, 2020 was $6.9 million. The amount reclassified out of other comprehensive income into interest expense on our Condensed Consolidated Statement of Operations for both the three and six months ended June 30, 2020 was $0.5 million. The Company expects $3.3 million to be reclassified from Accumulated Other Comprehensive Income over the next twelve months. Net Investment Hedges The Company’s operations are subject to certain risks, including foreign currency exchange rate fluctuations. From time to time, the Company enters into cross-currency swaps designated as hedges, recorded at fair value (see Note 8, "Fair Value Measurements"), to protect the Company's net investments in subsidiaries denominated in currencies other than the US dollar. In November 2019, the Company entered into three fixed-to-fixed cross-currency swaps with banking institutions with aggregate notional amounts totaling €67.8 million ($75 million U.S. dollar equivalent). These swaps hedge a portion of the Company's net investment in a Euro functional currency denominated subsidiary against the variability of exchange rate translation impacts between the U.S. dollar and Euro. These contracts require monthly cash interest exchanges over the life of the contracts with the Company recognizing a reduction to interest expense due to the favorable interest rate differential between the U.S. dollar and Euro. Also, settlement of the notional €22.6 million ($25 million U.S. dollar equivalent) cross-currency swaps occur at maturity dates of August 2021, August 2022 and August 2023. The Company assesses hedge effectiveness of the cross-currency swaps quarterly by ensuring the critical terms of the swaps continue to match the critical terms of the designated net investment. The Company elected to assess effectiveness using the spot method, and as a result, records the interest rate differential monthly in the Company's Statement of Operations. 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. The following table sets forth the fair value amounts of derivative instruments held by the Company presented in the Condensed Consolidated Balance Sheets as Other current assets and Other accrued liabilities: June 30, 2020 December 31, 2019 In thousands Asset Derivatives Liability Derivatives Asset Derivatives Liability Derivatives Interest rate contracts $ — $ 6,896 $ 2 $ 4,538 Cross-currency swaps 177 — — 1,817 Total derivatives $ 177 $ 6,896 $ 2 $ 6,355 The following table sets forth the (loss) income recorded in accumulated other comprehensive (loss) income, net of tax, for the three and six-month periods ended June 30, 2020 and 2019 for derivatives held by the Company and designated as hedging instruments: For the Three Months Ended For the Six Months Ended In thousands 2020 2019 2020 2019 Cash flow hedges: Interest rate contracts $ 11 $ (1,351) $ (2,162) $ (2,026) Cross-currency swaps (1,093) — 1,526 — Total derivatives $ (1,082) $ (1,351) $ (636) $ (2,026)

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. The Company uses a three-level fair value hierarchy that prioritizes the inputs used to measure fair value. This hierarchy requires the Company to maximize the use of observable inputs and minimize the use of unobservable inputs. The three levels of inputs used to measure fair value are as follows: • Level 1 - Quoted prices in active markets for identical assets or liabilities. • Level 2 - Observable inputs other than quoted prices included in Level 1, such as quoted prices in markets that are not active or other inputs that are observable or can be corroborated by observable market data. • Level 3 - Unobservable inputs that are supported by little or no market activity and are significant to the fair value of the assets or liabilities. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs. The following table presents the carrying value and fair value of financial instruments that are not carried at fair value: June 30, 2020 December 31, 2019 In thousands Carrying Value Fair Value Carrying Value Fair Value Debt $ 286,000 $ 292,543 $ 273,000 $ 269,434 The fair values of the Company’s long-term debt outstanding were computed based on discounted future cash flows (observable inputs), as applicable, which falls under Level 2 of the fair value hierarchy. Differences from carrying values are attributable to interest rate changes subsequent to when the transactions occurred. The fair values of cash and cash equivalents, accounts receivable, net and accounts payable approximate their ca rrying amounts due to the short-term maturities of these instruments. Recurring Fair Value Measures The Company holds derivative instruments for interest rate swap contracts and cross-currency swaps that are measured using observable market inputs such as forward rates and its counterparties' credit risks. Based on these inputs, the derivative instruments are classified within Level 2 of the valuation hierarchy. At June 30, 2020 and December 31, 2019, these derivative instruments were included in other current assets and other accrued liabilities on the Consolidated Balance Sheet. Based on the Company's continued ability to trade and enter into interest rate swaps and cross-currency swaps, the Company considers the markets for their fair value instruments to be open. Nonrecurring Fair Value Measurements During the three-month period ended March 31, 2020, the Company incurred a $48.7 million impairment charge for goodwill at its Performance Materials segment and a $12.4 million impairment charge for a certain asset group at one of the Performance Materials' European businesses. See Note 5, "Impairment of Goodwill and Other Long-Lived Assets" for information regarding the calculation of fair value.

Equity Compensation Plans

Equity Compensation Plans	3 Months Ended
	Jun. 30, 2020
Share-based Payment Arrangement [Abstract]
Equity Compensation Plans	Equity Compensation Plans As of June 30, 2020, the Company’s equity compensation plans consisted of the 2003 Stock Incentive Compensation Plan (the “2003 Plan”), and the Amended and Restated 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, amended and approved by shareholders on April 24, 2020, authorizes 3.0 million shares of common stock for awards. The 2012 Plan also authorizes an additional 19,720 shares of common stock to the extent awards granted under prior stock plans that were outstanding as of April 24, 2020 are forfeited. The 2012 Plan provides for the following types of awards: options, restricted stock, restricted stock units and other stock-based awards. During the fourth quarter of 2019, additional shares of common stock were issued pursuant to separate inducement share agreements with two individuals as material inducement to their employment with the Company (the "Inducement Grants"). The Inducement Grants awarded stock options and restricted stock to the two individuals. Amounts shown below are inclusive of the Plans and the Inducement Grants. 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 four two four The Company incurred equity compensation expense of $0.9 million and $0.5 million for the three-month periods ended June 30, 2020 and 2019, respectively, and $1.8 million and $1.5 million for the six-month periods ended June 30, 2020 and 2019, respectively, 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 for the three-month and six-month periods ended June 30, 2020: For the Three Months Ended June 30, 2020 For the Six Months Ended June 30, 2020 In thousands except per share Shares Weighted- Shares Weighted- Stock Options outstanding at the beginning of the period 761 $ 26.35 683 $ 27.15 Granted 58 $ 9.41 169 $ 17.44 Exercised — $ — (4) $ 8.67 Forfeited or Expired (71) $ 22.85 (100) $ 24.91 Stock Options outstanding at June 30, 2020 748 $ 25.36 748 $ 25.36 Exercisable at June 30, 2020 297 $ 33.80 297 $ 33.80 Unvested at June 30, 2020 451 $ 19.79 451 $ 19.79 There was no cash received from exercise of stock options during the three-month period ended June 30, 2020. The amount of cash received from the exercise of stock options was less than $0.1 million during the six-month period ended June 30, 2020. The intrinsic value of stock options exercised was less than $0.1 million with a tax benefit of less than $0.1 million during the three-month and six-month periods ended June 30, 2020. At June 30, 2020, the total unrecognized compensation cost related to non-vested stock option awards was approximately $2.7 million, with a weighted average expected amortization period of 2.9 years. Restricted Stock Restricted stock includes both performance-based and time-based awards. The following is a summary of the Company's unvested time-based restricted shares for the three-month and six-month periods ended June 30, 2020: For the Three Months Ended June 30, 2020 For the Six Months Ended June 30, 2020 In thousands Shares Shares Unvested at the beginning of the period 203 159 Granted 23 77 Vested — (3) Forfeited or Expired (6) (13) Unvested at June 30, 2020 220 220 The following is a summary of the Company's unvested performance-based restricted shares for the three-month and six-month periods ended June 30, 2020: For the Three Months Ended June 30, 2020 For the Six Months Ended June 30, 2020 In thousands Shares Shares Unvested at the beginning of the period 154 129 Granted 25 66 Vested — — Forfeited or Expired (18) (34) Unvested at June 30, 2020 161 161 At June 30, 2020, there were 381,242 total unvested restricted stock awards with total unrecognized compensation cost related to these awards of $5.3 million with a weighted average expected amortization period of 2.2 years. Compensation expense for

Stock Repurchases

Stock Repurchases	6 Months Ended
	Jun. 30, 2020
Equity [Abstract]
Stock Repurchases	Stock Repurchases During the six-month period ended June 30, 2020, the Company purchased 916 shares of common stock valued at less than $0.1 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.

Employer Sponsored Benefit Plan

Employer Sponsored Benefit Plans	6 Months Ended
	Jun. 30, 2020
Retirement Benefits [Abstract]
Employer Sponsored Benefit Plans	Employer Sponsored Benefit Plans Prior to the three-month period ended June 30, 2020, the Company maintained two domestic pension plans: the Retirement Income Plan for Employees of Interface Performance Materials, Inc. ("IPM Pension Plan"), and the Interface Sealing Solutions, Inc. Pension Plan ("ISS Pension Plan"). During the three-month period ended March 31, 2020, the Company settled the pension obligation of the ISS Pension Plan through lump sum distributions to participants or by irrevocably transferring pension liabilities to an insurance company through the purchase of a group annuity contract. This purchase, funded with pension assets, resulted in a pre-tax settlement loss of $0.4 million in the three-month period ended March 31, 2020, related to the recognition of accumulated deferred actuarial losses. The settlement loss and expenses were included as non-operating expense in the condensed consolidated statements of operations. The IPM Pension Plan covers a portion of Interface's union and non-union employees. The plan is closed to new employees and benefits are no longer accruing for the majority of participants. The Company expects to make required contributions of approximately $1.2 million to the IPM Pension Plan during 2020. There were no contributions made during the three-month period ended June 30, 2020, as the Company took advantage of the delay in minimum funding contribution due dates as allowed under the CARES Act, and is delaying payment of the minimum funding contributions of $0.3 million originally due during April 2020. This and other required minimum funding contributions for the remainder of 2020 will be made later in 2020. Contributions of $0.4 million were made during the six-month period ended June 30, 2020. Contributions of $0.3 million and $0.9 million were made during the three-month and six-month periods ended June 30, 2019, respectively, inclusive of contributions made to the ISS Pension Plan. Prior to 2020, the Company also maintained the U.S. Lydall Pension Plan. During the second quarter of 2019, the Company settled the pension obligation of the U.S. Lydall Pension Plan through lump sum distributions to participants or by irrevocably transferring pension liabilities to two insurance companies through the purchase of group annuity contracts. No contributions were made to the U.S. Lydall Pension Plan during the three-month and six-month periods ended June 30, 2019. The following is a summary of the components of net periodic benefit cost for the domestic defined benefit pension plans for the three-month and six-month periods ended June 30, 2020 and 2019: For the Three Months Ended For the Six Months Ended In thousands 2020 2019 2020 2019 Components of employer benefit cost Service cost $ 40 $ 30 $ 80 $ 60 Interest cost 428 833 857 1,827 Expected return on assets (532) (744) (1,065) (1,616) Amortization of actuarial loss — 186 2 464 Net periodic benefit cost $ (64) $ 305 $ (126) $ 735 Settlement loss — 25,515 385 25,515 Total employer benefit plan cost $ (64) $ 25,820 $ 259 $ 26,250 The Company reports the service cost component of net periodic benefit cost in the same line item as other compensation costs in operating expenses and the non-service cost components of net periodic benefit cost in other income.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For the three-month period ended June 30, 2020, the Company's effective tax rate was 9.2% compared to an effective tax rate of 54.0% for the three-month period ended June 30, 2019. For the three months ended June 30, 2020, the rate was negatively impacted by valuation allowance activity of $0.5 million and a foreign withholding tax liability of $0.4 million, resulting in a lower effective tax rate when in a pre-tax loss position. For the three months ended June 30, 2019, the Company had a pre-tax loss primarily resulting from a pension plan settlement of $25.5 million, resulting in a $10.5 million tax benefit. Excluding the tax benefit of the pension plan settlement, the Company's effective tax rate for the three months ended June 30, 2019 was 22.7%. This was negatively impacted by valuation allowance activity of $0.9 million, partially offset by the Company's geographical mix of earnings. For the six-month period ended June 30, 2020, the Company's effective tax rate was 4.0% compared to an effective tax rate of 69.7% for the six-month period ended June 30, 2019. For the six months ended June 30, 2020, the Company had a pre-tax loss primarily resulting from impairment charges of $61.1 million. The impairment charges significantly impacted the Company's effective tax rate because $48.7 million of the impairment charges related to non-deductible goodwill, resulting in a low effective tax rate for the six months ended June 30, 2020 when in a pre-tax loss position. Additionally, the effective rate was negatively impacted by valuation allowance activity of $0.7 million. For the six-month period ended June 30, 2019, the Company had a pre-tax loss primarily resulting from a pension plan settlement of $25.5 million, resulting in a $10.5 million tax benefit. Excluding the tax benefit of the pension plan settlement, the Company's effective tax rate for the six months ended June 30, 2019 was 22.5%. This was negatively impacted by valuation allowance activity of $1.2 million partially, offset by the Company's geographical mix of earnings. 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, Canada, China, France, Germany, Hong Kong, India, the Netherlands, and the United Kingdom. With few exceptions, the Company is no longer subject to U.S. federal examinations for years before 2016, state and local examinations for years before 2015, and non-U.S. income tax examinations for years before 2013. 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, including valuation allowances on loss carryforwards in which no tax benefit can be recognized, stock vesting, pension plan terminations, the completion of acquisitions or divestitures, changes in tax rates or tax laws and the completion of ongoing tax planning strategies and audits. On July 20, 2020, the U.S. Treasury Department and IRS released T.D. 9902 final regulations for publication in the Federal Register related to the global intangible low-taxed income (“GILTI”) high-tax exception. The final regulations largely adopt the framework of the 2019 proposed regulations, with certain key departures. The most significant departures are that an election to apply the GILTI high-tax exception may be made annually instead of once every five years, and that the calculation is made with respect to each “tested unit” of a controlled foreign corporation, rather than on a qualified business unit by qualified business unit basis. The company is evaluating the final regulations and is assessing potential impacts of these changes to the Company’s financial statements.

Loss Per Share

Loss Per Share	6 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
Loss Per Share	Loss Per Share For the three-month and six-month periods ended June 30, 2020 and 2019, basic earnings per share were computed by dividing net loss 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: For the Three Months Ended For the Six Months Ended In thousands 2020 2019 2020 2019 Basic weighted-average common shares outstanding 17,372 17,267 17,354 17,260 Effect of dilutive options and restricted stock awards — — — — Diluted weighted-average common shares outstanding 17,372 17,267 17,354 17,260 Dilutive stock awards totaling 4,432 and 19,710 shares of Common Stock were excluded from the diluted per share computation for the three-month and six-month periods ended June 30, 2020, as the Company reported a net loss during those periods and, therefore, the effect of including these options would be antidilutive. Dilutive stock options totaling 54,713 and 69,730 shares of Common Stock were excluded from the diluted per share computation for the three-month and six-month periods ended June 30, 2019, as the Company reported a net loss during that period and, therefore, the effect of including these options would be antidilutive.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2020
Segment Reporting [Abstract]
Segment Information	Segment Information As of June 30, 2020, the Company’s reportable segments were Performance Materials, Technical Nonwovens, and Thermal Acoustical Solutions. Performance Materials Segment The Performance Materials segment includes filtration media solutions primarily for air, fluid power, life science and industrial applications (“Filtration”), and sealing and gasket 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 (including face mask material), and industrial processes. The Company has leveraged its extensive technical expertise and applications knowledge into a suite of media products covering the vast liquid filtration landscape across the transportation 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 products include nonwoven specialty engineered materials for a multitude of applications. Interface fiber-reinforced gasket materials serve the heavy-duty diesel, automobile, small engine, transmission and compressor markets. These products handle demanding sealing challenges with a diverse range of metallic, non-metallic, rubber-coated and laminate materials that comprise the extensive Sealing materials portfolio. Interface Engineered Components are ready to use soft and hard gasket parts sold directly to OEMs and aftermarket applications. An example is Select-a-Seal® rubber-edged composite (REC) technology that provides robust sealing, compression, adhesion, and shear strength for driveline applications. Advanced Solutions’ nonwoven veils, papers and specialty composites for the building products, appliance, energy and industrial markets include Manniglas® Thermal Insulation Papers, and Lytherm® Insulation Media for high temperature technology applications. The Company'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 specialty fiber 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 multitude 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 an 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, the Company’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 three-month and six- month periods ended June 30, 2020 and 2019, 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: For the Three Months Ended For the Six Months Ended In thousands 2020 2019 2020 2019 Performance Materials Segment: Filtration $ 29,636 $ 24,732 $ 55,523 $ 48,666 Sealing and Advanced Solutions 28,837 40,370 68,170 81,016 Performance Materials Segment net sales 58,473 65,102 123,693 129,682 Technical Nonwovens Segment (1): Industrial Filtration 29,413 38,706 60,782 81,070 Advanced Materials (2) 22,594 30,372 48,628 53,614 Technical Nonwovens Segment net sales 52,007 69,078 109,410 134,684 Thermal Acoustical Solutions Segment: Parts 32,448 85,705 109,769 170,281 Tooling 5,000 7,567 11,440 17,304 Thermal Acoustical Solutions Segment net sales 37,448 93,272 121,209 187,585 Eliminations and Other (2) (1,768) (6,641) (7,625) (13,115) Consolidated Net Sales $ 146,160 $ 220,811 $ 346,687 $ 438,836 Operating income by segment: For the Three Months Ended For the Six Months Ended In thousands 2020 2019 2020 2019 Performance Materials (3) $ 5,443 $ 3,303 $ (51,498) $ 4,762 Technical Nonwovens (1),(2),(4) 6,684 7,844 10,497 12,578 Thermal Acoustical Solutions (6,285) 7,357 (657) 16,848 Corporate Office Expenses (7,588) (5,325) (15,656) (11,959) Consolidated Operating Income $ (1,746) $ 13,179 $ (57,314) $ 22,229 (1) The Technical Nonwovens segment includes the results of Geosol through the date of disposition of May 9, 2019. (2) Included in the Technical Nonwovens segment and Eliminations and Other is $1.4 million and $4.6 million in intercompany sales to the Thermal Acoustical Solutions segment for the three-month periods ended June 30, 2020 and 2019, respectively, and $6.4 million and $9.3 million in intercompany sales to the Thermal Acoustical Solutions segment for the six-month periods ended June 30, 2020 and 2019. (3) Included in the Performance Materials segment is $61.1 million of impairment charges related to goodwill and other long-lived assets for the six-month period ended June 30, 2020, $4.0 million and $4.1 million of intangible assets amortization for the three-month periods ended June 30, 2020 and 2019, respectively, and $7.9 million and $8.1 million of intangible assets amortization for the six-month periods ended June 30, 2020 and 2019, respectively. (4) Included in the Technical Nonwovens segment is $1.2 million and $1.3 million of intangible assets amortization for the three-month periods ended June 30, 2020 and 2019, respectively, and $2.3 million and $2.6 million of intangible assets amortization for the six-month periods ended June 30, 2020 and 2019.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Environmental Remediation 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 Per and Polyfluorinated Substances (“PFAS”) 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 2018, the Company received a response from the NHDES to the site investigation report outlining proposed remedial actions. The Company recorded an additional $0.1 million of expense in 2018 associated with the expected costs to remediate the impacts of the discharge of regulated contaminants in accordance with standards established by the NHDES. During 2018 the environmental liability was fully reduced reflecting payments made to vendors, resulting in no balance at December 31, 2018. Additionally, the Company incurred $0.2 million of capital expenditures in 2018, in relation to the lining of the Company's fresh water 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 cash flows. In December 2018, the New York State Department of Environmental Conservation (“NYDEC”) informed the Company that the newly acquired Interface site located at Hoosick Falls, NY will be the subject of an investigation in to the possibility of it being an inactive hazardous disposable waste site. The letter specifically references PFAS that have been detected in a nearby water supply, soil and/or surface water. Notably, the PFAS contamination has been identified in the Hoosick Falls area for some time and other large manufacturers in the area have previously been identified as a source. The NYDEC approved a site characterization plan in December 2019. The Company recorded expense of $0.3 million in the fourth quarter of 2019 as a result of the site characterization plan preparation and site characterization activities, which will continue when the COVID-19 crisis abates to a point where the site investigation can safely proceed. The Company does not know the scope or extent of its future obligations, if any, that may arise from the site investigation and therefore is unable to estimate the cost of any corrective action. Accordingly, the Company cannot assure that the costs of any future corrective at this location would not have a material effect on the Company's financial condition, results of operations or cash flows. 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

Changes in Accumulated Other Co

Changes in Accumulated Other Comprehensive Income (Loss)	6 Months Ended
	Jun. 30, 2020
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 three-month and six-month periods ended June 30, 2020 and 2019: In thousands Foreign Currency Defined Benefit Gains and Losses Total Balance at March 31, 2020 $ (27,979) $ (2,749) $ (4,431) $ (35,159) Other comprehensive income (loss) 5,146 — (1,082) (a) 4,064 Amounts reclassified from accumulated other comprehensive loss — — 397 (b) 397 Balance at June 30, 2020 $ (22,833) $ (2,749) $ (5,116) $ (30,698) Balance at December 31, 2019 (18,022) (3,080) (4,877) (25,979) Other comprehensive loss (4,811) — (636) (a) (5,447) Amounts reclassified from accumulated other comprehensive loss — 331 (c) 397 (b) 728 Balance at June 30, 2020 $ (22,833) $ (2,749) $ (5,116) $ (30,698) In thousands Foreign Currency Defined Benefit Gains and Losses Total Balance at March 31, 2019 $ (18,585) $ (22,038) $ (2,649) $ (43,272) Other comprehensive income (loss) 2,457 — (1,351) (a) 1,106 Amounts reclassified from accumulated other comprehensive loss — 19,159 (d) — 19,159 Balance at June 30, 2019 $ (16,128) $ (2,879) $ (4,000) $ (23,007) Balance at December 31, 2018 (18,458) (22,253) (1,974) (42,685) Other comprehensive income (loss) 2,330 — (2,026) (a) 304 Amounts reclassified from accumulated other comprehensive loss — 19,374 (d) — 19,374 Balance at June 30, 2019 $ (16,128) $ (2,879) $ (4,000) $ (23,007) (a) Amount represents unrealized losses on the fair value of hedging activities, net of taxes, for the three-month and six-month periods ended June 30, 2020 and 2019. (b) Amount represents the impact of de-designation of the interest rate swap agreement. This amount was $0.5 million, net of $0.1 million tax benefit, for the three-month and six-month periods ended June 30, 2020. (c) Amount represents the settlement of the ISS Pension Plan in the first quarter of 2020. This amount was $0.4 million, net of $0.1 million tax benefit. (d) Amount represents the settlement of the Lydall Pension Plan in the second quarter of 2019. This amount was approximately $19.0 million, net of $11.5 million tax benefit, for the three-month and six-month periods ended June 30, 2019. Amount also represents amortization of actuarial losses, a component of net periodic benefit cost during the first five months of fiscal year 2019 prior to the plan termination. This amount was $0.1 million, net of less than $0.1 million tax benefit for the three-month period ended June 30, 2019 and $0.4 million, net of $0.1 million tax benefit for the six-month period ended June 30, 2019.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2020
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsThe Company has evaluated subsequent events through the issuance date of these financial statements. No material events were identified that require disclosure.

Basis of Financial Statement _2

Basis of Financial Statement Presentation (Policies)	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Basis of Presentation	Basis of PresentationThe 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 audited financial statements for the year ended December 31, 2019, but does not include all disclosures required by U.S. GAAP. In the opinion of management, the condensed consolidated financial information reflects all adjustments necessary for a fair statement of the Company’s consolidated financial position, results of operations and cash flows for the interim periods reported, but do not include all the disclosures required by U.S. GAAP. All such adjustments are of a normal recurring nature, unless otherwise disclosed in this report. Certain amounts in prior year financial statements and notes thereto have been reclassified to conform to current year presentation. The statements should be read in conjunction with the consolidated financial statements and accompanying notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019.
Use of Estimates	Use of Estimates The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. The full extent to which the COVID-19 pandemic will directly or indirectly impact the Company’s business, results of operations and financial condition, including sales, expenses, reserves and allowances, manufacturing, research and development costs and employee-related amounts, will depend on future developments that are highly uncertain, including as a result of new information that may emerge concerning COVID-19 and the actions taken to contain it or treat COVID-19. The Company has made estimates of the impact of COVID-19 within its financial statements and there may be changes to those estimates in future periods. Actual results could differ from those estimates.
Recent Accounting Pronouncements Adopted & Recent Accounting Pronouncements Not Yet Adopted	Recent Accounting Pronouncements Adopted Effective January 1, 2020, the Company adopted the Financial Accounting Standards Board ("FASB") Accounting Standards Update ("ASU") 2016-13, "Financial Instruments - Credit Losses (Topic 326)." The new standard amends guidance on reporting credit losses for assets held at amortized cost basis. The Company has determined the only financial assets subject to the new standard are its trade receivables and contract assets. The adoption of this ASU did not have any impact on the Company’s consolidated financial statements and disclosures. Effective January 1, 2020, the Company adopted the FASB issued ASU 2018-13, "Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement," 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. Please refer to Note 5, “Impairments of Goodwill and Other Long-Lived Assets”, for discussion of the inputs used in the quantitative impairment assessments for the three-month period ended March 31, 2020. Effective January 1, 2020, the Company adopted 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 adoption of this ASU did not have any impact on the Company’s consolidated financial statements and disclosures. In March 2020, the FASB issued ASU 2020-04, " Reference Rate Reform (Topic 848); Facilitation of the Effects of Reference Rate Reform on Financial Reporting." The amendments in this update are elective, and provide optional expedients and exceptions in accounting for contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. The guidance in this update is effective for transactions entered into between March 12, 2020 and December 31, 2022. The Company adopted this ASU upon issuance and notes no impact to the Company's consolidated financial statements and disclosures as of June 30, 2020. Recent Accounting Pronouncements Not Yet Adopted In January 2020, the FASB issued ASU 2020-01, "Investments—Equity Securities (Topic 321), Investments—Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815)." The amendments in this update are intended to reduce diversity in practice and increase comparability of the accounting for interaction of equity securities, investments accounted for under the equity method of accounting, and the accounting for certain forward contracts and purchased options accounted for under Topic 815. This ASU is effective for fiscal years and interim periods beginning after December 15, 2020 with early adoption permitted. The Company is currently evaluating the impact of this update on its consolidated financial statements and related disclosures. In December 2019, the FASB issued ASU 2019-12, "Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes". The new standard is intended to simplify accounting for income taxes by removing certain exceptions to the general principles in Topic 740, and by clarifying and amending existing guidance in other areas of the same topic. This ASU is effective for fiscal years and interim periods beginning after December 15, 2020 with early adoption permitted. The Company is currently evaluating the impact of this update on its consolidated financial statements and related disclosures.
Risks and Uncertainties	Risks and Uncertainties Worldwide economic cycles, political changes and the COVID-19 pandemic affect the markets that the Company’s businesses serve and affect demand for the Company's products and could impact profitability. Among other factors, disruptions in the global credit and financial markets, including diminished liquidity and credit availability, changes in international trade agreements, swings in consumer confidence and spending, unstable economic growth and fluctuations in unemployment rates has caused economic instability and can have a negative impact on the Company’s results of operations, financial condition and liquidity.

Basis of Financial Statement _3

Basis of Financial Statement Presentation (Tables)	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Schedule of Error Corrections and Prior Period Adjustments	he Company did, however, revise the Condensed Consolidated Statements of Comprehensive Income for the three-month and six-month periods ended June 30, 2019 as follows: Three Months Ended June 30, 2019 Six Months Ended June 30, 2019 In thousands As reported As revised As reported As revised Pension liability adjustment, net of tax $ 143 $ 19,159 $ 358 $ 19,374 Comprehensive (loss) income $ (5,697) $ 13,319 $ (2,394) $ 16,622

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	6 Months Ended
	Jun. 30, 2020
Revenue from Contract with Customer [Abstract]
Schedule of Contract Assets and Liabilities	Contract assets and liabilities consisted of the following: In thousands June 30, 2020 December 31, 2019 Dollar Change Contract assets $ 27,969 $ 28,245 $ (276) Contract liabilities $ 3,762 $ 1,441 $ 2,321
Schedule of Disaggregation of Revenue by Geographical Region	Disaggregated revenue by geographical region for the three-month and six-month periods ended June 30, 2020 and 2019 were as follows: For the Three Months Ended June 30, 2020 In thousands Performance Materials Technical Nonwovens Thermal Acoustical Solutions Eliminations and Other Consolidated Net Sales North America $ 40,190 $ 31,236 $ 22,575 $ (1,668) $ 92,333 Europe 16,501 15,418 11,424 (100) 43,243 Asia 1,782 5,353 3,449 — 10,584 Total Net Sales $ 58,473 $ 52,007 $ 37,448 $ (1,768) $ 146,160 For the Three Months Ended June 30, 2019 In thousands Performance Materials Technical Nonwovens Thermal Acoustical Solutions Eliminations and Other Consolidated Net Sales North America $ 47,822 $ 42,667 $ 64,235 $ (6,466) $ 148,258 Europe 15,729 17,791 25,203 (175) 58,548 Asia 1,551 8,620 3,834 — 14,005 Total Net Sales $ 65,102 $ 69,078 $ 93,272 $ (6,641) $ 220,811 For the Six Months Ended June 30, 2020 In thousands Performance Materials Technical Nonwovens Thermal Acoustical Solutions Eliminations and Other Consolidated Net Sales North America $ 86,107 $ 66,967 $ 79,676 $ (7,345) $ 225,405 Europe 33,776 32,356 34,964 (280) 100,816 Asia 3,810 10,087 6,569 — 20,466 Total Net Sales $ 123,693 $ 109,410 $ 121,209 $ (7,625) $ 346,687 For the Six Months Ended June 30, 2019 In thousands Performance Materials Technical Nonwovens Thermal Acoustical Solutions Eliminations and Other Consolidated Net Sales North America $ 94,199 $ 79,856 $ 127,837 $ (12,734) $ 289,158 Europe 32,386 36,840 51,645 (381) 120,490 Asia 3,097 17,988 8,103 — 29,188 Total Net Sales $ 129,682 $ 134,684 $ 187,585 $ (13,115) $ 438,836

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2020
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories as of June 30, 2020 and December 31, 2019 were as follows: In thousands June 30, December 31, Raw materials $ 35,148 $ 36,322 Work in process 15,531 14,873 Finished goods 29,621 29,349 Total inventories $ 80,300 $ 80,544

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2020
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 six-month period ended June 30, 2020 were as follows: In thousands December 31, Currency translation adjustments Impairment June 30, Performance Materials $ 80,658 $ (45) $ (48,671) $ 31,942 Technical Nonwovens 53,254 (1,245) — 52,009 Total goodwill $ 133,912 $ (1,290) $ (48,671) $ 83,951
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 June 30, 2020 and December 31, 2019: June 30, 2020 December 31, 2019 In thousands Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Amortized intangible assets Customer Relationships $ 141,462 $ (39,622) $ 142,400 $ (30,648) Patents 760 (661) 759 (607) Technology 2,500 (1,060) 2,500 (977) Trade Names 7,205 (5,989) 7,293 (5,143) License Agreements 611 (611) 610 (610) Other 550 (550) 551 (551) Total amortized intangible assets $ 153,088 $ (48,493) $ 154,113 $ (38,536) As a result of these impairment tests, the Company recorded the following impairment charges during the three-month period ended March 31, 2020: In thousands Performance Materials Technical Nonwovens Thermal Acoustical Solutions Totals Impairment of goodwill $ 48,671 $ — $ — $ 48,671 Impairment of other long-lived assets 12,438 — — 12,438 Total impairments $ 61,109 $ — $ — $ 61,109

Impairments of Goodwill and O_2

Impairments of Goodwill and Other Long-Lived Assets (Tables)	6 Months Ended
	Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Impairment Charges	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 June 30, 2020 and December 31, 2019: June 30, 2020 December 31, 2019 In thousands Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Amortized intangible assets Customer Relationships $ 141,462 $ (39,622) $ 142,400 $ (30,648) Patents 760 (661) 759 (607) Technology 2,500 (1,060) 2,500 (977) Trade Names 7,205 (5,989) 7,293 (5,143) License Agreements 611 (611) 610 (610) Other 550 (550) 551 (551) Total amortized intangible assets $ 153,088 $ (48,493) $ 154,113 $ (38,536) As a result of these impairment tests, the Company recorded the following impairment charges during the three-month period ended March 31, 2020: In thousands Performance Materials Technical Nonwovens Thermal Acoustical Solutions Totals Impairment of goodwill $ 48,671 $ — $ — $ 48,671 Impairment of other long-lived assets 12,438 — — 12,438 Total impairments $ 61,109 $ — $ — $ 61,109

Long-term Debt and Financing _2

Long-term Debt and Financing Arrangements (Tables)	6 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Schedule of Maturities of Long-term Debt	Total outstanding debt consists of: In thousands Effective Rate Maturity June 30, 2020 December 31, 2019 Revolver loan 5.25 % 8/31/2023 $ 144,500 $ 126,500 Term loan, net of debt issuance costs 5.25 % 8/31/2023 140,996 146,106 Finance leases 1.60 % 2020 14 35 285,510 272,641 Less portion due within one year (9,855) (9,928) Total long-term debt, net of debt issuance costs $ 275,655 $ 262,713

Derivatives (Tables)

Derivatives (Tables)	6 Months Ended
	Jun. 30, 2020
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 presented in the Condensed Consolidated Balance Sheets as Other current assets and Other accrued liabilities: June 30, 2020 December 31, 2019 In thousands Asset Derivatives Liability Derivatives Asset Derivatives Liability Derivatives Interest rate contracts $ — $ 6,896 $ 2 $ 4,538 Cross-currency swaps 177 — — 1,817 Total derivatives $ 177 $ 6,896 $ 2 $ 6,355
Schedule of Derivative Liabilities at Fair Value	The following table sets forth the fair value amounts of derivative instruments held by the Company presented in the Condensed Consolidated Balance Sheets as Other current assets and Other accrued liabilities: June 30, 2020 December 31, 2019 In thousands Asset Derivatives Liability Derivatives Asset Derivatives Liability Derivatives Interest rate contracts $ — $ 6,896 $ 2 $ 4,538 Cross-currency swaps 177 — — 1,817 Total derivatives $ 177 $ 6,896 $ 2 $ 6,355
Schedule of Cash Flow Hedges included in Accumulated Other Comprehensive Income (Loss)	The following table sets forth the (loss) income recorded in accumulated other comprehensive (loss) income, net of tax, for the three and six-month periods ended June 30, 2020 and 2019 for derivatives held by the Company and designated as hedging instruments: For the Three Months Ended For the Six Months Ended In thousands 2020 2019 2020 2019 Cash flow hedges: Interest rate contracts $ 11 $ (1,351) $ (2,162) $ (2,026) Cross-currency swaps (1,093) — 1,526 — Total derivatives $ (1,082) $ (1,351) $ (636) $ (2,026)

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2020
Fair Value Disclosures [Abstract]
Schedule of Carrying Values and Fair Values of Financial Instruments	The following table presents the carrying value and fair value of financial instruments that are not carried at fair value: June 30, 2020 December 31, 2019 In thousands Carrying Value Fair Value Carrying Value Fair Value Debt $ 286,000 $ 292,543 $ 273,000 $ 269,434

Equity Compensation Plans (Tabl

Equity Compensation Plans (Tables)	6 Months Ended
	Jun. 30, 2020
Share-based Payment Arrangement [Abstract]
Schedule of Outstanding and Exercisable Options	The following table is a summary of outstanding and exercisable options for the three-month and six-month periods ended June 30, 2020: For the Three Months Ended June 30, 2020 For the Six Months Ended June 30, 2020 In thousands except per share Shares Weighted- Shares Weighted- Stock Options outstanding at the beginning of the period 761 $ 26.35 683 $ 27.15 Granted 58 $ 9.41 169 $ 17.44 Exercised — $ — (4) $ 8.67 Forfeited or Expired (71) $ 22.85 (100) $ 24.91 Stock Options outstanding at June 30, 2020 748 $ 25.36 748 $ 25.36 Exercisable at June 30, 2020 297 $ 33.80 297 $ 33.80 Unvested at June 30, 2020 451 $ 19.79 451 $ 19.79

Employer Sponsored Benefit Pl_2

Employer Sponsored Benefit Plans (Tables)	6 Months Ended
	Jun. 30, 2020
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 domestic defined benefit pension plans for the three-month and six-month periods ended June 30, 2020 and 2019: For the Three Months Ended For the Six Months Ended In thousands 2020 2019 2020 2019 Components of employer benefit cost Service cost $ 40 $ 30 $ 80 $ 60 Interest cost 428 833 857 1,827 Expected return on assets (532) (744) (1,065) (1,616) Amortization of actuarial loss — 186 2 464 Net periodic benefit cost $ (64) $ 305 $ (126) $ 735 Settlement loss — 25,515 385 25,515 Total employer benefit plan cost $ (64) $ 25,820 $ 259 $ 26,250

Loss Per Share (Tables)

Loss Per Share (Tables)	6 Months Ended
	Jun. 30, 2020
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: For the Three Months Ended For the Six Months Ended In thousands 2020 2019 2020 2019 Basic weighted-average common shares outstanding 17,372 17,267 17,354 17,260 Effect of dilutive options and restricted stock awards — — — — Diluted weighted-average common shares outstanding 17,372 17,267 17,354 17,260

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2020
Segment Reporting [Abstract]
Schedule of Consolidated Net Sales and Operating Income by Segment	Consolidated net sales by segment: For the Three Months Ended For the Six Months Ended In thousands 2020 2019 2020 2019 Performance Materials Segment: Filtration $ 29,636 $ 24,732 $ 55,523 $ 48,666 Sealing and Advanced Solutions 28,837 40,370 68,170 81,016 Performance Materials Segment net sales 58,473 65,102 123,693 129,682 Technical Nonwovens Segment (1): Industrial Filtration 29,413 38,706 60,782 81,070 Advanced Materials (2) 22,594 30,372 48,628 53,614 Technical Nonwovens Segment net sales 52,007 69,078 109,410 134,684 Thermal Acoustical Solutions Segment: Parts 32,448 85,705 109,769 170,281 Tooling 5,000 7,567 11,440 17,304 Thermal Acoustical Solutions Segment net sales 37,448 93,272 121,209 187,585 Eliminations and Other (2) (1,768) (6,641) (7,625) (13,115) Consolidated Net Sales $ 146,160 $ 220,811 $ 346,687 $ 438,836 Operating income by segment: For the Three Months Ended For the Six Months Ended In thousands 2020 2019 2020 2019 Performance Materials (3) $ 5,443 $ 3,303 $ (51,498) $ 4,762 Technical Nonwovens (1),(2),(4) 6,684 7,844 10,497 12,578 Thermal Acoustical Solutions (6,285) 7,357 (657) 16,848 Corporate Office Expenses (7,588) (5,325) (15,656) (11,959) Consolidated Operating Income $ (1,746) $ 13,179 $ (57,314) $ 22,229 (1) The Technical Nonwovens segment includes the results of Geosol through the date of disposition of May 9, 2019. (2) Included in the Technical Nonwovens segment and Eliminations and Other is $1.4 million and $4.6 million in intercompany sales to the Thermal Acoustical Solutions segment for the three-month periods ended June 30, 2020 and 2019, respectively, and $6.4 million and $9.3 million in intercompany sales to the Thermal Acoustical Solutions segment for the six-month periods ended June 30, 2020 and 2019. (3) Included in the Performance Materials segment is $61.1 million of impairment charges related to goodwill and other long-lived assets for the six-month period ended June 30, 2020, $4.0 million and $4.1 million of intangible assets amortization for the three-month periods ended June 30, 2020 and 2019, respectively, and $7.9 million and $8.1 million of intangible assets amortization for the six-month periods ended June 30, 2020 and 2019, respectively. (4) Included in the Technical Nonwovens segment is $1.2 million and $1.3 million of intangible assets amortization for the three-month periods ended June 30, 2020 and 2019, respectively, and $2.3 million and $2.6 million of intangible assets amortization for the six-month periods ended June 30, 2020 and 2019.

Changes in Accumulated Other _2

Changes in Accumulated Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	Jun. 30, 2020
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 three-month and six-month periods ended June 30, 2020 and 2019: In thousands Foreign Currency Defined Benefit Gains and Losses Total Balance at March 31, 2020 $ (27,979) $ (2,749) $ (4,431) $ (35,159) Other comprehensive income (loss) 5,146 — (1,082) (a) 4,064 Amounts reclassified from accumulated other comprehensive loss — — 397 (b) 397 Balance at June 30, 2020 $ (22,833) $ (2,749) $ (5,116) $ (30,698) Balance at December 31, 2019 (18,022) (3,080) (4,877) (25,979) Other comprehensive loss (4,811) — (636) (a) (5,447) Amounts reclassified from accumulated other comprehensive loss — 331 (c) 397 (b) 728 Balance at June 30, 2020 $ (22,833) $ (2,749) $ (5,116) $ (30,698) In thousands Foreign Currency Defined Benefit Gains and Losses Total Balance at March 31, 2019 $ (18,585) $ (22,038) $ (2,649) $ (43,272) Other comprehensive income (loss) 2,457 — (1,351) (a) 1,106 Amounts reclassified from accumulated other comprehensive loss — 19,159 (d) — 19,159 Balance at June 30, 2019 $ (16,128) $ (2,879) $ (4,000) $ (23,007) Balance at December 31, 2018 (18,458) (22,253) (1,974) (42,685) Other comprehensive income (loss) 2,330 — (2,026) (a) 304 Amounts reclassified from accumulated other comprehensive loss — 19,374 (d) — 19,374 Balance at June 30, 2019 $ (16,128) $ (2,879) $ (4,000) $ (23,007) (a) Amount represents unrealized losses on the fair value of hedging activities, net of taxes, for the three-month and six-month periods ended June 30, 2020 and 2019. (b) Amount represents the impact of de-designation of the interest rate swap agreement. This amount was $0.5 million, net of $0.1 million tax benefit, for the three-month and six-month periods ended June 30, 2020. (c) Amount represents the settlement of the ISS Pension Plan in the first quarter of 2020. This amount was $0.4 million, net of $0.1 million tax benefit. (d) Amount represents the settlement of the Lydall Pension Plan in the second quarter of 2019. This amount was approximately $19.0 million, net of $11.5 million tax benefit, for the three-month and six-month periods ended June 30, 2019. Amount also represents amortization of actuarial losses, a component of net periodic benefit cost during the first five months of fiscal year 2019 prior to the plan termination. This amount was $0.1 million, net of less than $0.1 million tax benefit for the three-month period ended June 30, 2019 and $0.4 million, net of $0.1 million tax benefit for the six-month period ended June 30, 2019.

Basis of Financial Statement _4

Basis of Financial Statement Presentation - Narrative (Details) $ in Thousands	1 Months Ended		3 Months Ended			6 Months Ended		9 Months Ended
	Apr. 30, 2020	Dec. 31, 2019USD ($)arrangement	Jun. 30, 2020USD ($)	Mar. 31, 2020	Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Sep. 30, 2019USD ($)
Debt Instrument [Line Items]
Social cost reimbursements related to COVID-19						$ 1,700
Limit on monthly payments for production of medical supplies, COVID-19						13,500
Net cash provided by operating activities						40,415	$ 36,219
Cash on hand		$ 51,331	$ 92,546			92,546
Number of arrangements to sell accounts receivable | arrangement		2
Trade accounts receivable sold subject to risk of loss		$ 500
Proportion of trade receivables in cash at time of sale (as a percent)		90.00%
Proportion of trade receivables in cash when customer pays (as a percent)		10.00%
Trade receivables sold during period			10,300			43,000
Cash received for trade receivables sold			40,000			40,000
Fees related to trade receivables sold			100
Comprehensive (loss) income			$ (1,396)		$ 13,319	(66,997)	16,622
Revision of Prior Period, Adjustment
Debt Instrument [Line Items]
Comprehensive (loss) income					$ 19,000		$ 19,000	$ 19,000
Thermal Acoustical Solutions
Debt Instrument [Line Items]
Increase (decrease) in revenue (as a percent)	(90.00%)		(62.10%)	(11.20%)
Technical Nonwovens
Debt Instrument [Line Items]
Increase (decrease) in revenue (as a percent)				(12.50%)
Technical Nonwovens | Industrial Filtration
Debt Instrument [Line Items]
Increase (decrease) in revenue (as a percent)			(25.00%)
Technical Nonwovens | Advanced Materials
Debt Instrument [Line Items]
Increase (decrease) in revenue (as a percent)			(9.30%)
Performance Materials | Filtration
Debt Instrument [Line Items]
Increase (decrease) in revenue (as a percent)	20.00%		19.80%	1.00%
Performance Materials | Sealing and Advanced Solutions
Debt Instrument [Line Items]
Increase (decrease) in revenue (as a percent)			(28.60%)
Revolving Credit Facility | Amended Credit Facility
Debt Instrument [Line Items]
Draw on credit facility						$ 20,000

Basis of Financial Statement _5

Basis of Financial Statement Presentation - Revisions for Errors (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Reclassification [Line Items]
Pension liability adjustment, net of tax	$ 0	$ 19,159	$ 331	$ 19,374
Comprehensive (loss) income	$ (1,396)	13,319	$ (66,997)	16,622
As reported
Reclassification [Line Items]
Pension liability adjustment, net of tax		143		358
Comprehensive (loss) income		$ (5,697)		$ (2,394)

Revenue from Contracts with C_3

Revenue from Contracts with Customers - Narrative (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2020USD ($)
Revenue from Contract with Customer [Abstract]
Increase (decrease) in contract assets	$ (276)
Increase (decrease) in contract liabilities	2,321
Revenue recognized from contracts with customers	$ 900

Revenue from Contracts with C_4

Revenue from Contracts with Customers - Contract Assets and Liabilities (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Revenue from Contract with Customer [Abstract]
Contract assets	$ 27,969	$ 28,245
Contract liabilities	3,762	$ 1,441
Increase (decrease) in contract assets	(276)
Increase (decrease) in contract liabilities	$ 2,321

Revenue from Contracts with C_5

Revenue from Contracts with Customers - Disaggregation of Revenue by Geographical Location (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Disaggregation of Revenue [Line Items]
Net sales	$ 146,160	$ 220,811	$ 346,687	$ 438,836
North America
Disaggregation of Revenue [Line Items]
Net sales	92,333	148,258	225,405	289,158
Europe
Disaggregation of Revenue [Line Items]
Net sales	43,243	58,548	100,816	120,490
Asia
Disaggregation of Revenue [Line Items]
Net sales	10,584	14,005	20,466	29,188
Operating Segments | Performance Materials
Disaggregation of Revenue [Line Items]
Net sales	58,473	65,102	123,693	129,682
Operating Segments | Performance Materials | North America
Disaggregation of Revenue [Line Items]
Net sales	40,190	47,822	86,107	94,199
Operating Segments | Performance Materials | Europe
Disaggregation of Revenue [Line Items]
Net sales	16,501	15,729	33,776	32,386
Operating Segments | Performance Materials | Asia
Disaggregation of Revenue [Line Items]
Net sales	1,782	1,551	3,810	3,097
Operating Segments | Technical Nonwovens
Disaggregation of Revenue [Line Items]
Net sales	52,007	69,078	109,410	134,684
Operating Segments | Technical Nonwovens | North America
Disaggregation of Revenue [Line Items]
Net sales	31,236	42,667	66,967	79,856
Operating Segments | Technical Nonwovens | Europe
Disaggregation of Revenue [Line Items]
Net sales	15,418	17,791	32,356	36,840
Operating Segments | Technical Nonwovens | Asia
Disaggregation of Revenue [Line Items]
Net sales	5,353	8,620	10,087	17,988
Operating Segments | Thermal Acoustical Solutions
Disaggregation of Revenue [Line Items]
Net sales	37,448	93,272	121,209	187,585
Operating Segments | Thermal Acoustical Solutions | North America
Disaggregation of Revenue [Line Items]
Net sales	22,575	64,235	79,676	127,837
Operating Segments | Thermal Acoustical Solutions | Europe
Disaggregation of Revenue [Line Items]
Net sales	11,424	25,203	34,964	51,645
Operating Segments | Thermal Acoustical Solutions | Asia
Disaggregation of Revenue [Line Items]
Net sales	3,449	3,834	6,569	8,103
Eliminations and Other
Disaggregation of Revenue [Line Items]
Net sales	(1,768)	(6,641)	(7,625)	(13,115)
Eliminations and Other | North America
Disaggregation of Revenue [Line Items]
Net sales	(1,668)	(6,466)	(7,345)	(12,734)
Eliminations and Other | Europe
Disaggregation of Revenue [Line Items]
Net sales	(100)	(175)	(280)	(381)
Eliminations and Other | Asia
Disaggregation of Revenue [Line Items]
Net sales	$ 0	$ 0	$ 0	$ 0

Inventories - Summary (Details)

Inventories - Summary (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Inventory, Net [Abstract]
Raw materials	$ 35,148	$ 36,322
Work in process	15,531	14,873
Finished goods	29,621	29,349
Total inventories	$ 80,300	$ 80,544

Inventories - Narrative (Detail

Inventories - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Inventory Disclosure [Abstract]
Net tooling inventory	$ 2.2	$ 1.8

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Changes in Carrying Amount of Goodwill by Segment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Jun. 30, 2020
Goodwill [Roll Forward]
Balance at beginning of period	$ 133,912		$ 133,912
Currency translation adjustments			(1,290)
Impairment	(48,671)		(48,671)
Balance at end of period		$ 133,912	83,951
Performance Materials
Goodwill [Roll Forward]
Balance at beginning of period	80,658		80,658
Currency translation adjustments			(45)
Impairment	(48,671)	(63,000)	(48,671)
Balance at end of period	31,900	80,658	31,942
Technical Nonwovens
Goodwill [Roll Forward]
Balance at beginning of period	53,254		53,254
Currency translation adjustments			(1,245)
Impairment	$ 0		0
Balance at end of period		$ 53,254	$ 52,009

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Jun. 30, 2020
Goodwill [Line Items]
Goodwill impairment	$ 48,671		$ 48,671
Performance Materials
Goodwill [Line Items]
Goodwill impairment	$ 48,671	$ 63,000	$ 48,671

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Amortization of the Acquired Intangible Assets Other than Goodwill (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Amortized intangible assets
Gross Carrying Amount	$ 153,088	$ 154,113
Accumulated Amortization	(48,493)	(38,536)
Customer Relationships
Amortized intangible assets
Gross Carrying Amount	141,462	142,400
Accumulated Amortization	(39,622)	(30,648)
Patents
Amortized intangible assets
Gross Carrying Amount	760	759
Accumulated Amortization	(661)	(607)
Technology
Amortized intangible assets
Gross Carrying Amount	2,500	2,500
Accumulated Amortization	(1,060)	(977)
Trade Names
Amortized intangible assets
Gross Carrying Amount	7,205	7,293
Accumulated Amortization	(5,989)	(5,143)
License Agreements
Amortized intangible assets
Gross Carrying Amount	611	610
Accumulated Amortization	(611)	(610)
Other
Amortized intangible assets
Gross Carrying Amount	550	551
Accumulated Amortization	$ (550)	$ (551)

Impairments of Goodwill and O_3

Impairments of Goodwill and Other Long-Lived Assets - Summary (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Segment Reporting Information [Line Items]
Impairment of goodwill		$ 48,671			$ 48,671
Impairment of other long-lived assets		12,438
Total impairments	$ 0	61,109		$ 0	61,109	$ 0
Performance Materials
Segment Reporting Information [Line Items]
Impairment of goodwill		48,671	$ 63,000		48,671
Impairment of other long-lived assets		12,438	$ 1,200
Total impairments		61,109
Technical Nonwovens
Segment Reporting Information [Line Items]
Impairment of goodwill		0			$ 0
Impairment of other long-lived assets		0
Total impairments		0
Thermal Acoustical Solutions
Segment Reporting Information [Line Items]
Impairment of goodwill		0
Impairment of other long-lived assets		0
Total impairments		$ 0

Impairments of Goodwill and O_4

Impairments of Goodwill and Other Long-Lived Assets - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Jun. 30, 2020
Segment Reporting Information [Line Items]
Impairment of goodwill	$ 48,671		$ 48,671
Goodwill		$ 133,912	83,951
Impairment of other long-lived assets	$ 12,438
Performance Materials
Segment Reporting Information [Line Items]
Weighted-average cost of capital (as a percent)	11.50%	9.20%
Impairment of goodwill	$ 48,671	$ 63,000	48,671
Goodwill	31,900	80,658	$ 31,942
Impairment of other long-lived assets	$ 12,438	$ 1,200
Thermal Acoustical Solutions
Segment Reporting Information [Line Items]
Weighted-average cost of capital (as a percent)	10.80%	9.20%
Impairment of goodwill	$ 0
Impairment of other long-lived assets	$ 0

Long-term Debt and Financing _3

Long-term Debt and Financing Arrangements - Narrative (Details)	May 11, 2020USD ($)	Aug. 31, 2018USD ($)	Jun. 30, 2020USD ($)	Sep. 30, 2021	Jun. 30, 2021	Jun. 30, 2020USD ($)	Jun. 30, 2022	Mar. 31, 2021	May 10, 2020USD ($)	Dec. 31, 2019USD ($)
Debt Instrument [Line Items]
Weighted-average interest rate (as a percent)			4.80%			4.80%				4.30%
Amended Credit Facility
Debt Instrument [Line Items]
Borrowings outstanding under term loan		$ 250,000,000
Term Loan Due August 31, 2023
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 144,000,000								$ 200,000,000
Borrowings outstanding under term loan		200,000,000	$ 141,000,000			$ 141,000,000
Amount of quarterly repayments of term commitment		2,500,000
Debt issuance costs			500,000			500,000
Amended Credit Facility - 2020
Debt Instrument [Line Items]
Outstanding standby letters of credit			$ 1,600,000			$ 1,600,000
Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	314,000,000	175,000,000
Revolving Credit Facility | Amended Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	314,000,000	450,000,000
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
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 | 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%
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 - 2020
Debt Instrument [Line Items]
Maximum borrowing capacity	170,000,000	$ 450,000,000							$ 250,000,000
Credit facility fixed charge coverage ratio (not less than)						1.10
Minimum cash and cash equivalents balances	$ 40,000,000
Outstanding borrowings			$ 286,000,000			$ 286,000,000
Remaining borrowing capacity			23,900,000			23,900,000				$ 121,600,000
Revolving Credit Facility | Amended Credit Facility - 2020 | Forecast
Debt Instrument [Line Items]
Credit facility fixed charge coverage ratio (not less than)				1.25	1.25
Required consolidated leverage ratio as of end of each fiscal quarter (no greater than)					4.50		3.50	6.5
Revolving Credit Facility | Amended Credit Facility - 2020 | Minimum
Debt Instrument [Line Items]
Quarterly unused line commitment fee (as a percent)	0.375%
Revolving Credit Facility | Amended Credit Facility - 2020 | Eurocurrency Rate | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	3.00%
Revolving Credit Facility | Amended Credit Facility - 2020 | Eurocurrency Rate | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	4.25%
Revolving Credit Facility | Amended Credit Facility - 2020 | Base Rate | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	2.00%
Revolving Credit Facility | Amended Credit Facility - 2020 | Base Rate | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	3.25%
Revolving Credit Facility | Amended Credit Facility - 2020 | Base and Eurocurrency Rate | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	1.00%
Foreign Credit Facility
Debt Instrument [Line Items]
Outstanding borrowings			100,000			100,000
Outstanding standby letters of credit			1,300,000			1,300,000
Remaining borrowing capacity			$ 7,100,000			$ 7,100,000

Long-term Debt and Financing _4

Long-term Debt and Financing Arrangements - Maturities of Long-term Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Long-term debt	$ 285,510	$ 272,641
Less portion due within one year	(9,855)	(9,928)
Total long-term debt, net of debt issuance costs	$ 275,655	262,713
Term loan, net of debt issuance costs
Debt Instrument [Line Items]
Debt instrument, effective interest rate (as a percent)	5.25%
Long-term debt	$ 140,996	146,106
Finance leases
Debt Instrument [Line Items]
Debt instrument, effective interest rate (as a percent)	1.60%
Long-term debt	$ 14	35
Revolving Credit Facility | Revolver loan
Debt Instrument [Line Items]
Debt instrument, effective interest rate (as a percent)	5.25%
Long-term debt	$ 144,500	$ 126,500

Derivatives - Narrative (Detail

Derivatives - Narrative (Details) € in Millions	1 Months Ended		3 Months Ended	6 Months Ended	12 Months Ended
	Nov. 30, 2018USD ($)	Apr. 30, 2017USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2021USD ($)	May 11, 2020	Nov. 30, 2019USD ($)derivative_contract	Nov. 30, 2019EUR (€)derivative_contract
Derivative [Line Items]
Number of derivative instruments held | derivative_contract							3	3
Eurocurrency Rate
Derivative [Line Items]
Derivative floor interest rate (as a percent)						1.00%
Total Accumulated Other Comprehensive (Loss) Income
Derivative [Line Items]
Net income (loss)				$ 6,900,000
Reclassification out of Accumulated Other Comprehensive Income
Derivative [Line Items]
Net income (loss)				$ 500,000
Reclassification out of Accumulated Other Comprehensive Income | Forecast
Derivative [Line Items]
Net income (loss)					$ 3,300,000
Interest rate contracts
Derivative [Line Items]
Derivative agreement term	5 years	3 years
Derivative notional amount	$ 139,000,000	$ 60,000,000
Fixed rate of derivatives (as a percent)	3.09%	1.58%
Quarterly reduction to notional amount			$ 5,000,000
Cross-currency swaps
Derivative [Line Items]
Derivative notional amount							$ 25,000,000	€ 22.6
Aggregate derivative notional amount							$ 75,000,000	€ 67.8

Derivatives - Fair Value Amount

Derivatives - Fair Value Amounts of Derivative Instruments (Details) - Derivatives designated as hedging instruments - USD ($) $ in Thousands	Jun. 30, 2020	Jun. 30, 2019
Derivatives, Fair Value [Line Items]
Asset Derivatives	$ 177	$ 2
Liability Derivatives	6,896	6,355
Interest rate contracts
Derivatives, Fair Value [Line Items]
Asset Derivatives	0	2
Liability Derivatives	6,896	4,538
Cross-currency swaps
Derivatives, Fair Value [Line Items]
Asset Derivatives	177	0
Liability Derivatives	$ 0	$ 1,817

Derivatives - Income (Loss) Rec

Derivatives - Income (Loss) Recorded in Accumulated Other Comprehensive (Loss) Income (Details) - Derivatives designated as hedging instruments - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in other comprehensive income	$ (1,082)	$ (1,351)	$ (636)	$ (2,026)
Interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in other comprehensive income	11	(1,351)	(2,162)	(2,026)
Cross-currency swaps
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in other comprehensive income	$ (1,093)	$ 0	$ 1,526	$ 0

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Jun. 30, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Goodwill impairment	$ 48,671		$ 48,671
Performance Materials
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Goodwill impairment	48,671	$ 63,000	$ 48,671
Fair Value, Nonrecurring | Performance Materials
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Goodwill impairment	48,700
Asset impairment charge	$ 12,400

Fair Value Measurements - Carry

Fair Value Measurements - Carrying Value and Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Carrying Value
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Debt	$ 286,000	$ 273,000
Fair Value
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Debt	$ 292,543	$ 269,434

Equity Compensation Plans - Nar

Equity Compensation Plans - Narrative (Details) - USD ($)	Apr. 24, 2020	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Mar. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense		$ 900,000	$ 500,000	$ 1,800,000	$ 1,500,000
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award, term				10 years
Cash received from exercise of stock option (less than)		0		$ 100,000
Intrinsic value of options exercised (less than)		100,000		100,000
Intrinsic value of stock options exercised, tax benefit (less than)		100,000		100,000
Total unrecognized compensation cost		2,700,000		$ 2,700,000
Weighted average expected amortization period				2 years 10 months 24 days
Stock Options | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award, vesting period				3 years
Stock Options | 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		$ 5,300,000		$ 5,300,000
Weighted average expected amortization period				2 years 2 months 12 days
Unvested restricted stock awards (shares)		381,242		381,242
Time-Based Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested restricted stock awards (shares)		220,000		220,000		203,000	159,000
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
Stock Option Plan 2012
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share options and restricted shares authorized (shares)	3,000,000
Additional shares authorized under the plan (shares)	19,720

Equity Compensation Plans - Out

Equity Compensation Plans - Outstanding and Exercisable Options and Restricted Stock (Details) shares in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2020$ / sharesshares	Jun. 30, 2020$ / sharesshares
Stock Options
Shares
Outstanding at beginning of period (shares)	761	683
Granted (shares)	58	169
Exercised (shares)	0	(4)
Forfeited or Expired (shares)	(71)	(100)
Outstanding at end of period (shares)	748	748
Exercisable (shares)	297	297
Unvested (shares)	451	451
Weighted- Average Exercise Price
Outstanding at beginning of period (USD per share) | $ / shares	$ 26.35	$ 27.15
Granted (USD per share) | $ / shares	9.41	17.44
Exercised (USD per share) | $ / shares	0	8.67
Forfeited or Expired (USD per share) | $ / shares	22.85	24.91
Outstanding at end of period (USD per share) | $ / shares	25.36	25.36
Exercisable (USD per share) | $ / shares	33.80	33.80
Unvested (USD per share) | $ / shares	$ 19.79	$ 19.79
Time-Based Restricted Stock
Restricted Stock
Unvested at beginning of period (shares)	203	159
Granted (shares)	23	77
Vested (shares)	0	(3)
Forfeited or Expired (shares)	(6)	(13)
Unvested at end of period (shares)	220	220
Performance-Based Restricted Stock Awards
Restricted Stock
Unvested at beginning of period (shares)	154	129
Granted (shares)	25	66
Vested (shares)	0	0
Forfeited or Expired (shares)	(18)	(34)
Unvested at end of period (shares)	161	161

Stock Repurchases - Narrative (

Stock Repurchases - Narrative (Details) $ in Millions	6 Months Ended
	Jun. 30, 2020USD ($)shares
Equity [Abstract]
Stock repurchased during period (shares) | shares	916
Aggregate purchase price of shares repurchased (less than) | $	$ 0.1

Employer Sponsored Benefit Pl_3

Employer Sponsored Benefit Plans - Narrative (Details) - United States - Pension plan - USD ($)	3 Months Ended			6 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
IPM Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Expected employer contributions during remainder of fiscal year	$ 1,200,000			$ 1,200,000
Contributions made by company to domestic pension plan	0		$ 300,000	$ 400,000	$ 900,000
Delayed contributions to plan	$ 300,000
ISS Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Pre-tax settlement loss		$ 400,000
Lydall Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Contributions made by company to domestic pension plan			$ 0		$ 0

Employer Sponsored Benefit Pl_4

Employer Sponsored Benefit Plans - Components of Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Components of employer benefit cost
Service cost	$ 40	$ 30	$ 80	$ 60
Interest cost	428	833	857	1,827
Expected return on assets	(532)	(744)	(1,065)	(1,616)
Amortization of actuarial loss	0	186	2	464
Net periodic benefit cost	(64)	305	(126)	735
Settlement loss	0	25,515	385	25,515
Total employer benefit plan cost	$ (64)	$ 25,820	$ 259	$ 26,250

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Tax Contingency [Line Items]
Effective tax rate (as a percent)	9.20%		54.00%	4.00%	69.70%
Valuation allowance activity	$ 500		$ 900	$ 700	$ 1,200
Employee benefit plans settlement expenses	0		25,515	385	25,515
Tax benefit related to employee benefit plan settlement expenses			$ 10,500		$ 10,500
Effective tax rate excluding pension plan settlement (as a percent)			22.70%		22.50%
Impairment charges	0	$ 61,109	$ 0	61,109	$ 0
Goodwill impairment		$ 48,671		$ 48,671
Foreign Tax Authority
Income Tax Contingency [Line Items]
Withholding tax liability benefit	$ 400

Loss Per Share - Summary (Detai

Loss Per Share - Summary (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Earnings Per Share [Abstract]
Basic weighted-average common shares outstanding (shares)	17,372	17,267	17,354	17,260
Effect of dilutive options and restricted stock awards (shares)	0	0	0	0
Diluted weighted-average common shares outstanding (shares)	17,372	17,267	17,354	17,260

Loss Per Share - Narrative (Det

Loss Per Share - Narrative (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Earnings Per Share [Abstract]
Dilutive stock options excluded from computation of diluted earnings per share (shares)	4,432	54,713	19,710	69,730
Stock excluded from computation of diluted earnings per share (shares)	732,512	520,189	715,046	521,293

Segment Information - Summary (

Segment Information - Summary (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Segment Reporting, Revenue Reconciling Item [Line Items]
Net sales	$ 146,160		$ 220,811	$ 346,687	$ 438,836
Operating income	(1,746)		13,179	(57,314)	22,229
Impairment of goodwill and other long-lived assets	0	$ 61,109	0	61,109	0
Performance Materials
Segment Reporting, Revenue Reconciling Item [Line Items]
Impairment of goodwill and other long-lived assets		61,109
Technical Nonwovens
Segment Reporting, Revenue Reconciling Item [Line Items]
Impairment of goodwill and other long-lived assets		0
Thermal Acoustical Solutions
Segment Reporting, Revenue Reconciling Item [Line Items]
Impairment of goodwill and other long-lived assets		$ 0
Operating Segments | Performance Materials
Segment Reporting, Revenue Reconciling Item [Line Items]
Net sales	58,473		65,102	123,693	129,682
Operating income	5,443		3,303	(51,498)	4,762
Impairment of goodwill and other long-lived assets				61,100
Amortization of intangible assets	4,000		4,100	7,900	8,100
Operating Segments | Performance Materials | Filtration
Segment Reporting, Revenue Reconciling Item [Line Items]
Net sales	29,636		24,732	55,523	48,666
Operating Segments | Performance Materials | Sealing and Advanced Solutions
Segment Reporting, Revenue Reconciling Item [Line Items]
Net sales	28,837		40,370	68,170	81,016
Operating Segments | Technical Nonwovens
Segment Reporting, Revenue Reconciling Item [Line Items]
Net sales	52,007		69,078	109,410	134,684
Operating income	6,684		7,844	10,497	12,578
Amortization of intangible assets	1,200		1,300	2,300	2,600
Operating Segments | Technical Nonwovens | Industrial Filtration
Segment Reporting, Revenue Reconciling Item [Line Items]
Net sales	29,413		38,706	60,782	81,070
Operating Segments | Technical Nonwovens | Advanced Materials
Segment Reporting, Revenue Reconciling Item [Line Items]
Net sales	22,594		30,372	48,628	53,614
Intercompany sales	1,400		4,600	6,400	9,300
Operating Segments | Thermal Acoustical Solutions
Segment Reporting, Revenue Reconciling Item [Line Items]
Net sales	37,448		93,272	121,209	187,585
Operating income	(6,285)		7,357	(657)	16,848
Operating Segments | Thermal Acoustical Solutions | Parts
Segment Reporting, Revenue Reconciling Item [Line Items]
Net sales	32,448		85,705	109,769	170,281
Operating Segments | Thermal Acoustical Solutions | Tooling
Segment Reporting, Revenue Reconciling Item [Line Items]
Net sales	5,000		7,567	11,440	17,304
Eliminations and Other
Segment Reporting, Revenue Reconciling Item [Line Items]
Net sales	(1,768)		(6,641)	(7,625)	(13,115)
Corporate Office Expenses
Segment Reporting, Revenue Reconciling Item [Line Items]
Operating income	$ (7,588)		$ (5,325)	$ (15,656)	$ (11,959)

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) - Rochester, New Hampshire - USD ($)	3 Months Ended		12 Months Ended
	Dec. 31, 2019	Mar. 31, 2017	Dec. 31, 2018
Loss Contingencies [Line Items]
Expense associated with expected costs of site investigation	$ 300,000	$ 200,000	$ 100,000
Capital expenditures			200,000
Environmental Contamination
Loss Contingencies [Line Items]
Accrual for environmental liability, including revision (fully offset)			$ 0

Changes in Accumulated Other _3

Changes in Accumulated Other Comprehensive Income (Loss) - Summary (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at beginning of period	$ 253,577	$ 318,420	$ 373,214	$ 318,420	$ 369,275
Other comprehensive income (loss)	4,064		1,106	(5,447)	304
Amounts reclassified from accumulated other comprehensive loss	397		19,159	728	19,374
Balance at end of period	253,262	253,577	387,105	253,262	387,105
Total Accumulated Other Comprehensive (Loss) Income
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at beginning of period	(35,159)	(25,979)	(43,272)	(25,979)	(42,685)
Balance at end of period	(30,698)	(35,159)	(23,007)	(30,698)	(23,007)
Foreign Currency Translation Adjustment
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at beginning of period	(27,979)	(18,022)	(18,585)	(18,022)	(18,458)
Other comprehensive income (loss)	5,146		2,457	(4,811)	2,330
Amounts reclassified from accumulated other comprehensive loss	0		0	0	0
Balance at end of period	(22,833)	(27,979)	(16,128)	(22,833)	(16,128)
Defined Benefit Pension Adjustment
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at beginning of period	(2,749)	(3,080)	(22,038)	(3,080)	(22,253)
Other comprehensive income (loss)	0		0	0	0
Amounts reclassified from accumulated other comprehensive loss	0		19,159	331	19,374
Balance at end of period	(2,749)	(2,749)	(2,879)	(2,749)	(2,879)
Settlement reclassified from AOCI before tax		400	19,000
Tax benefit from settlement reclassified from AOCI		100			11,500
Loss reclassified from AOCI for defined benefit pension plans			100		400
Tax benefit reclassified from AOCI for defined benefit pension plans			100		100
Gains and Losses on Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at beginning of period	(4,431)	(4,877)	(2,649)	(4,877)	(1,974)
Other comprehensive income (loss)	(1,082)		(1,351)	(636)	(2,026)
Amounts reclassified from accumulated other comprehensive loss	397		0	397	0
Balance at end of period	(5,116)	$ (4,431)	$ (4,000)	(5,116)	$ (4,000)
Impact of de-designation of interest rate swap agreement	500			500
Tax benefit from de-designation of interest rate swap agreement	$ 100			$ 100