Lydall (LDL) 10-K 23 Feb 21 2020 FY Annual report Financial data

Cover Page

Cover Page - USD ($)	12 Months Ended
	Dec. 31, 2020	Feb. 12, 2021	Jun. 30, 2020
Cover [Abstract]
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Entity Registrant Name	LYDALL INC /DE/
Entity Central Index Key	0000060977
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2020
Document Transition Report	false
Entity File Number	1-7665
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, $.01 par value
Trading Symbol	LDL
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 232,958,264
Entity Common Stock, Shares Outstanding		17,860,166

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Statement [Abstract]
Net sales	$ 764,041	$ 837,398	$ 785,897
Cost of sales	619,166	684,978	631,358
Gross profit	144,875	152,420	154,539
Selling, product development and administrative expenses	129,928	126,272	103,054
Impairment of goodwill and other long-lived assets	61,109	64,206	0
Restructuring expenses	15,903	767	2,297
Operating (loss) income	(62,065)	(38,825)	49,188
Employee benefit plans settlement expenses	385	25,247	0
Interest expense	15,979	14,262	6,212
Other expense (income), net	2,166	(1,257)	(289)
(Loss) income before income taxes	(80,595)	(77,077)	43,265
Income tax (benefit) expense	(6,833)	(6,416)	8,453
Income from equity method investment	(37)	(148)	(132)
Net (loss) income	$ (73,725)	$ (70,513)	$ 34,944
(Loss) earnings per common share:
Basic (USD per share)	$ (4.24)	$ (4.08)	$ 2.03
Diluted (USD per share)	$ (4.24)	$ (4.08)	$ 2.02
Weighted average common shares outstanding (shares)	17,379	17,271	17,204
Weighted average common shares and equivalents outstanding (shares)	17,379	17,271	17,330

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (73,725)	$ (70,513)	$ 34,944
Other comprehensive income (loss), net of tax:
Pension liability adjustment, net of taxes of $781, $11,605, and $1,285, respectively	(2,528)	19,173	(4,204)
Net gain (loss) on foreign currency translation	14,508	436	(16,237)
Unrealized (loss) on hedging activities, net of taxes of $1,304, $891, and $620, respectively	(4,343)	(2,903)	(2,096)
Other comprehensive income (loss)	7,637	16,706	(22,537)
Total comprehensive (loss) income	$ (66,088)	$ (53,807)	$ 12,407

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement of Comprehensive Income [Abstract]
Taxes related to pension liability adjustment	$ 781	$ 11,605	$ 1,285
Taxes related to unrealized loss on hedging activities	$ 1,304	$ 891	$ 620

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 102,176	$ 51,331
Accounts receivable, net of allowance for doubtful receivables of $2,402 and $1,842, respectively	116,947	107,786
Contract assets	32,403	28,245
Inventories	78,996	80,544
Taxes receivable	6,652	3,427
Prepaid expenses and other current assets	12,218	12,264
Total current assets	349,392	283,597
Property, plant and equipment, net	214,513	221,642
Operating lease right-of-use assets	22,243	23,116
Goodwill	87,595	133,912
Other intangible assets, net	95,121	115,577
Deferred income tax assets	1,260	1,933
Other assets, net	5,338	6,160
Total assets	775,462	785,937
Current liabilities:
Current portion of long-term debt	9,789	9,928
Accounts payable	101,905	73,426
Accrued payroll and other compensation	24,589	17,198
Accrued taxes	8,214	5,638
Derivative liabilities	11,996	6,355
Restructuring liabilities	9,431	108
Other accrued liabilities	21,705	17,205
Total current liabilities	187,629	129,858
Long-term debt, excluding current portion, net of debt issuance costs	260,649	262,713
Long-term lease liability	17,947	18,424
Deferred income tax liabilities	27,174	34,561
Benefit plan liabilities	21,691	18,957
Other long-term liabilities	2,676	3,004
Commitments and Contingencies (Note 17)
Stockholders’ equity:
Preferred stock, $0.01 per share par value, 500 shares authorized; none issued or outstanding) (Note 11)	0	0
Common stock, $0.01 per share par value, 30,000 shares authorized; 25,555 and 25,328 shares issued, respectively) (Note 11)	256	253
Capital in excess of par value	99,770	94,140
Retained earnings	266,904	340,629
Accumulated other comprehensive loss	(18,342)	(25,979)
Less treasury stock, 7,717 and 7,705 shares of common stock, respectively, at cost	(90,892)	(90,623)
Total stockholders’ equity	257,696	318,420
Total liabilities and stockholders’ equity	$ 775,462	$ 785,937

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Accounts receivable, allowance for doubtful receivables	$ 2,402	$ 1,842
Preferred stock, par value (USD per share)	$ 0.01	$ 0.01
Preferred stock authorized (shares)	500,000	500,000
Preferred stock issued (shares)	0	0
Preferred stock, outstanding (shares)	0	0
Common stock, par value (USD per share)	$ 0.01	$ 0.01
Common stock, authorized (shares)	30,000,000	30,000,000
Common stock, issued (shares)	25,555,000	25,328,000
Treasury stock, shares (shares)	7,717,000	7,705,000

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities:
Net (loss) income	$ (73,725)	$ (70,513)	$ 34,944
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Gain on divestiture	0	(1,459)	0
Depreciation and amortization	54,987	49,000	33,162
Impairment of goodwill and long-lived assets	61,109	64,206	0
Deferred income taxes	(4,368)	(14,585)	636
Employee benefit plans settlement expenses	385	25,247	0
Stock-based compensation	3,456	2,829	2,081
Inventory step-up amortization	0	0	1,975
Loss (gain) on disposition of property, plant and equipment	237	(17)	230
Income from equity method investment	(37)	(148)	(132)
Changes in operating assets and liabilities:
Accounts receivable	(11,651)	37,470	(7,127)
Contract assets	(3,555)	(5,514)	(3,828)
Inventories	3,946	2,619	(6,001)
Income taxes receivable	(3,076)	(876)	3,151
Prepaid expenses and other assets	199	2,031	(542)
Accounts payable	26,161	(393)	(5,055)
Restructuring liabilities	9,323	(39)	(186)
Accrued payroll and other compensation	6,538	4,597	(2,352)
Deferred revenue	1,355	(4,267)	3,801
Accrued taxes payable	2,334	2,500	535
Benefit plan liabilities	(1,852)	(4,288)	(7,658)
Other, net	2,401	(1,538)	(2,895)
Net cash provided by operating activities	74,167	86,862	44,739
Cash flows from investing activities:
Capital expenditures	(33,449)	(35,850)	(31,291)
Proceeds from the sale of property, plant and equipment	46	298	298
Proceeds from divestitures	0	2,298	0
Collections of finance receivables	5,770	0	0
Business acquisitions, net of cash acquired	0	869	(269,972)
Net cash used for investing activities	(27,633)	(32,385)	(300,965)
Cash flows from financing activities:
Proceeds from borrowings	20,000	0	338,000
Debt repayments	(22,000)	(52,233)	(89,862)
Debt issuance costs	0	0	(538)
Common stock issued	2,174	448	850
Common stock repurchased	(269)	(142)	(974)
Net cash (used for) provided by financing activities	(95)	(51,927)	247,476
Effect of exchange rate changes on cash	4,406	(456)	(1,888)
Increase (decrease) in cash and cash equivalents	50,845	2,094	(10,638)
Cash and cash equivalents at beginning of period	51,331	49,237	59,875
Cash and cash equivalents at end of period	102,176	51,331	49,237
Cash paid during the year for:
Interest	14,890	14,064	5,960
Income taxes, net	$ 3,031	$ 5,863	$ 4,606

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment		Common Stock	Additional Paid-in Capital	Retained Earnings	Retained EarningsCumulative Effect, Period of Adoption, Adjustment		Accumulated Other Comprehensive Income (Loss)	Treasury Stock
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201409Member
Beginning balance (shares) at Dec. 31, 2017				25,018						7,675
Beginning balance at Dec. 31, 2017	$ 353,396	$ 1,598		$ 250	$ 88,006	$ 374,783	$ 1,598		$ (20,148)	$ (89,495)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	34,944					34,944
Other comprehensive income (loss), net of tax	(22,537)								(22,537)
Stock repurchased (shares)										23
Stock repurchased	(974)									$ (974)
Stock issued under employee plans (shares)				225
Stock issued under employee plans	855			$ 3	852
Stock-based compensation expense	1,619				1,619
Stock issued to directors (shares)				11
Stock issued to directors	374				374
Ending balance (shares) at Dec. 31, 2018				25,254						7,698
Ending balance at Dec. 31, 2018	369,275	$ (183)	[1]	$ 253	90,851	411,325	$ (183)	[1]	(42,685)	$ (90,469)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(70,513)					(70,513)
Other comprehensive income (loss), net of tax	16,706								16,706
Stock repurchased (shares)										7
Stock repurchased	(154)									$ (154)
Stock issued under employee plans (shares)				46
Stock issued under employee plans	448				448
Stock-based compensation expense	2,229				2,229
Stock issued to directors (shares)				28
Stock issued to directors	$ 612				612
Ending balance (shares) at Dec. 31, 2019	25,328			25,328						7,705
Ending balance at Dec. 31, 2019	$ 318,420			$ 253	94,140	340,629			(25,979)	$ (90,623)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(73,725)					(73,725)
Other comprehensive income (loss), net of tax	7,637								7,637
Stock repurchased (shares)										12
Stock repurchased	(269)									$ (269)
Stock issued under employee plans (shares)				164
Stock issued under employee plans	2,144			$ 2	2,142
Stock-based compensation expense	2,785				2,785
Stock issued to directors (shares)				63
Stock issued to directors	$ 704			$ 1	703
Ending balance (shares) at Dec. 31, 2020	25,555			25,555						7,717
Ending balance at Dec. 31, 2020	$ 257,696			$ 256	$ 99,770	$ 266,904			$ (18,342)	$ (90,892)
[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.

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	SIGNIFICANT ACCOUNTING POLICIES Business — Lydall, Inc. and its subsidiaries (collectively, “Lydall”, "the Company”, “we” and “our”) design, manufacture, and market specialty filtration and advanced materials solutions that contribute to a cleaner, quieter, and safer world. The Company operates in a variety of attractive end markets supported by global megatrends such as the demand for indoor air quality and lower emissions, near sourcing of supply chains, and vehicle electrification redefining safety and sound. Lydall solves our customers' problems culminating in demanding applications, including: high performance air and liquid specialty filtration, molecular filtration, engineered fiber based sealing solutions, specialty insulation including high temperature and ultra-low temperature (cryogenic) insulation, needle punch nonwoven materials for industrial, geosynthetic, medical and other specialty applications; and thermal management and acoustical products and solutions to assist in the reduction of noise, vibration, and harshness. The Company conducts its business through three reportable segments: Performance Materials, Technical Nonwovens, and Thermal Acoustical Solutions. Principles of consolidation — The accompanying Consolidated Financial Statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. Certain amounts in prior year Consolidated Financial Statements and the accompanying Notes have been reclassed to conform to current year presentation. Estimates and assumptions — The preparation of the Company’s Consolidated Financial Statements in conformity with accounting principles generally accepted in the U.S. (“U.S. GAAP”) requires management to make estimates and assumptions that affect the amounts reported in the Consolidated Financial Statements and accompanying Notes. Significant items subject to such estimates and assumptions include the carrying amount of property, plant and equipment; goodwill and other intangible assets; valuation allowances for receivables, inventories and income taxes; valuation of equity compensation; obligations related to employer sponsored benefit plans; and estimates for environmental and other contingent liabilities. Actual results could differ materially from those estimates. Additional cash flow information — Non-cash investing activities include non-cash capital expenditures of $5.4 million, $5.5 million, and $4.9 million that were included in accounts payable at December 31, 2020, 2019 and 2018 respectively. Cash and cash equivalents — Cash and cash equivalents include cash on hand and demand deposits. Concentrations of credit risk — Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents, trade accounts receivable and contract assets. The Company deposits its cash and cash equivalents in high-quality financial institutions. As these deposits are generally redeemable upon demand and are held by high quality, reputable institutions, we consider them to bear minimal credit risk. The Company believes its concentrations of credit risk with respect to trade accounts receivable and contract assets is mitigated by the Company’s ongoing credit evaluation of customers’ creditworthiness and generally does not require collateral. The Company establishes the allowance for doubtful accounts based upon factors surrounding the credit risk of specific customers, historical losses, current economic conditions, geographic considerations, and other information. We work towards diversifying our customer base to mitigate the concentration of credit risk. At December 31, 2020 and December 31, 2019, no customer accounted for more than 10.0% of total accounts receivable. Foreign sales, including U.S. and non-U.S. customers, and US export sales totaled 55.3% of the Company’s net sales in 2020, 53.1% in 2019, and 53.5% in 2018. Export sales primarily to Canada, Mexico, Asia and Europe were $80.2 million, $86.3 million, and $56.8 million in 2020, 2019, and 2018, respectively. Sales to the automotive market, included in the Thermal Acoustical Solutions segment and, to a lesser extent, the Performance Materials segment, were 38.5% of the Company’s net sales in 2020, 42.9% in 2019, and 46.3% in 2018. No customer accounted for more than 10.0% of total net sales in 2020. During 2019, and 2018, sales to Ford Motor Company were $99.1 million, and $116.1 million, respectively, and accounted for 11.8%, and 14.8% of Lydall’s consolidated net sales in the years ended December 31, 2019 and 2018, respectively. These sales were reported in the Thermal Acoustical Solutions segment. Contingencies and environmental obligations — The Company makes judgments and estimates in accordance with U.S. GAAP when it establishes reserves for legal proceedings, claims, investigations, environmental obligations and other contingent matters. Provisions for such matters are charged against income when it is probable that a liability has been incurred and reasonable estimates of the liability can be made. Estimates of environmental liabilities are based on a variety of matters, including, but not limited to, the stage of investigation, the stage of the remedial design, evaluation of existing remediation technologies, and presently enacted laws and regulations. The amount and timing of all future expenses related to legal proceedings, claims, investigations, environmental obligations, and other contingent matters may vary significantly from estimates. See Note 17, "Commitments and Contingencies", in these Notes to the Consolidated Financial Statements for additional details regarding the Company's contingencies and environmental obligations. Contract assets — The Company's contract assets include unbilled amounts typically resulting from sales from contracts when the over-time method of revenue recognition is applied and revenue recognized exceeds the amount billed to the customer, and the right to payment is not just subject to the passage of time. Amounts do not exceed their net realizable value. Contract assets are generally classified as current as such amounts are billable and collectible within twelve months. Contract liabilities — The Company's contract liabilities consist of advance payments and billings in excess of revenue recognized and deferred revenue. Advance payments and billings in excess of revenue recognized are classified as current or noncurrent based on the timing of when recognition of revenue is expected. Cost of sales — Cost of sales includes costs of products and services sold (i.e., purchased product, raw material, direct labor, engineering labor, outbound freight charges, warehousing costs, depreciation and amortization, indirect costs and overhead charges). Derivative instruments — The Company is exposed to certain risks relating to its ongoing business operations, including market risks relating to fluctuations in foreign currency rates and interest rates. From time to time, the Company will enter into foreign currency derivative transactions and interest rate swap derivative instruments to manage such market risks. Derivative instruments are measured at fair value and recognized as either assets or liabilities on the Consolidated Balance Sheets depending upon maturity and commitment. Short-term assets are recognized in prepaid expenses and other current assets while long-term assets are recognized in other assets, net. Short-term liabilities are recognized in derivative liability or other accrued liabilities and long-term liabilities are recognized in other long-term liabilities. The changes in fair values of derivatives are recorded each period in earnings or accumulated other comprehensive income, depending on whether a derivative is effective as part of the hedged transaction. Gains and losses on derivative instruments reported in accumulated other comprehensive income are subsequently included in earnings in the periods in which earnings are affected by the hedged item. The 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. The Company does not engage in derivative instruments for speculative or trading purposes. See Note 8, "Derivatives", in these Notes to the Consolidated Financial Statements for additional information. Earnings per share — Basic earnings per common share are equal to net income divided by the weighted average number of common shares outstanding during the period. Diluted earnings per common share are equal to net income divided by the weighted average number of common shares outstanding during the period, including the effect of stock options and stock awards, if such effect is dilutive. Employer sponsored benefit plans — The Company accounts for its employer sponsored benefit pension plan by recognizing the overfunded or underfunded status of the plan, calculated as the difference between the plan assets and the projected benefit obligation, as an asset or liability on the Consolidated Balance Sheets, with changes in the funded status recognized in comprehensive income in the year in which they occur. Expenses and liabilities associated with the plan are determined based on actuarial valuations using key assumptions related to discount rates, mortality rates, and expected return on plan assets. Essential to the actuarial valuations, are a variety of assumptions including expected return on plan assets and discount rate. The Company regularly reviews the assumptions, which are updated at the measurement date, December 31st. The impact of differences between actual results and the assumptions are accumulated and generally amortized over future periods, which will affect expense recognized in future periods. The service cost component of net benefit cost is recorded in cost of sales and selling, product development, and administrative expenses separately from the other components of net benefit cost, which are recorded to non-service pension and postretirement benefit income and included in other expense (income), net on the Consolidated Statements of Operations. For additional information, see Note 12, "Employer Sponsored Benefit Plans", in these Notes to the Consolidated Financial Statements. Equity compensation — The Company records compensation expense for awards of equity instruments, which include incentive and non-qualified stock options and time and performance-restricted shares, under the fair value method of accounting based on the assessment of the grant date fair value of the awards. The Company recognizes expense on a straight-line basis over the vesting period for awards that have cliff vesting, and on a graded vesting basis for time-based restricted awards that have graded vesting. The amount of expense recognized is always at least equal to the fair value of the vested portion of the award. Forfeitures are recorded as they occur. The Company estimates the fair value of incentive and non-qualified options based on the Black-Scholes option-pricing model. Expected volatility and expected term are based on historical information, risk-free interest rate is based on U.S. Government bond rates, and dividend yield is based on historical trend and future plans. The calculation assumes that future volatility and expected term are not likely to materially differ from the Company’s historical stock price volatility and historical exercise data, respectively. The Company estimates the fair value of time-based restricted awards, and performance-restricted awards with performance conditions, based on the market value of the stock on the grant date. The Company estimates the fair value of performance-restricted awards containing a market condition using a Monte Carlo simulation model on the date of grant. As with options, expected volatility and expected term are based on historical information, risk-free interest rate is based on U.S. Government bond rates, and dividend yield is based on historical trend and future plans. The market condition for certain performance-restricted awards requires achievement of Total Shareholder Return (rTSR) targets relative to that of the S&P 600 Industrials Index over a three-year performance period. Compensation expense for performance-restricted awards with a performance target is also impacted by the probability of achieving the performance targets. Goodwill and other intangible assets — Goodwill represents the excess of the aggregate purchase price over the fair value of the net assets acquired in a purchase business combination. Goodwill and other intangible assets with indefinite lives are not amortized but are subject to annual impairment tests. Under Accounting Standards Codification ("ASC") 350, “Intangibles – Goodwill and Other,” (“ASC 350”), the Company has the option to first assess qualitative factors such as considering capital markets environment, economic conditions, industry trends, results of operations, and other factors. If the results of the qualitative test indicate a potential for impairment, a quantitative test is performed. The quantitative test compares the estimated fair value of each reporting unit to its carrying value. To determine the fair value of the reporting unit, the Company uses a combination of two approaches: the income approach and a market approach (also known as the Guideline Public Company method), both of which are weighted equally. Under the income approach, the Company calculates fair value by taking the cash flows that are based on internal projections and other assumptions deemed reasonable by management and discounts them using an estimated weighted average cost of capital. Under the market approach, fair value is estimated using published market multiples for comparable companies. If the carrying value exceeds the fair value under the quantitative approach, the Company will record an impairment charge for the excess of the carrying value over the respective fair value. In performing impairment tests, the Company considers discounted cash flows and other market factors as best evidence of fair value. There are inherent uncertainties and management judgment is required in these analyses. During the three-month period ended March 31, 2020, the COVID-19 pandemic was considered a triggering event for possible impairment of goodwill. The Company performed an interim quantitative test of goodwill for its Performance Materials and Technical Nonwovens segments. Based on the results, the Company recorded a goodwill impairment charge of $48.7 million for the Performance Materials segment. See Note 6, "Goodwill and Other Intangible Assets" in these Notes to the Consolidated Financial Statements for additional information. Income taxes — The provision for income taxes is based upon income reported in the accompanying Consolidated Financial Statements. Deferred income taxes reflect the impact of temporary differences between the amounts of income and expense recognized for financial reporting purposes and such amounts recognized for tax purposes. In the event the Company was to determine that it would not be able to realize all or a portion of its deferred tax assets in the future, the Company would record a valuation allowance through a charge against income in the period that such determination was made. Conversely, if the Company was to determine that it would be able to realize its deferred tax assets in the future in excess of the net carrying amounts, the Company would decrease the recorded valuation allowance and record an increase to income in the period that such determination was made. The Company records a benefit for uncertain tax positions in the financial statements only when it determines it is more likely than not that such a position will be sustained upon examination by taxing authorities based on the technical merits of the position. Unrecognized tax benefits represent the difference between the position taken in the tax return and the benefit reflected in the financial statements. Inventories — Inventories are valued at lower of cost or net realizable value. Cost is generally determined using first-in, first-out (“FIFO”) or average cost methods of accounting. The Company’s inventory is composed of the following types of inventory: raw material, work in process and finished goods. Raw materials include certain general stock materials and purchased parts and components to be used in the manufacturing process. Work in process and finished goods are valued at production cost represented by raw material, labor, and indirect overhead. Inventory is periodically reviewed and impairment, if any, is recognized when the expected net realizable value is less than the carrying value. The Company also maintains inventory reserves for estimated excess and obsolete inventory. Leases — The Company determines if an arrangement is a lease, or contains a lease, at the inception of the arrangement and evaluates whether the lease is an operating lease or a finance lease as of the commencement date. The Company recognizes right-of-use (“ROU”) assets and lease liabilities for operating and finance leases with terms greater than 12 months. ROU assets represent the Company’s right to use an asset for the lease term, while lease liabilities represent the obligation to make lease payments. Operating and finance lease ROU assets and lease liabilities are recognized based on the present value of lease payments over the lease term at the lease commencement date. The Company uses the implicit interest rate or, if not readily determinable, our incremental borrowing rate as of the lease commencement date to determine the present value of lease payments. The incremental borrowing rate is based on our borrowing rate over a similar period to the lease term. Operating and finance lease ROU assets are recognized net of any lease prepayments and incentives. Lease terms include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Operating lease expense is recognized on a straight-line basis over the lease term. Finance lease expense is recognized based on the effective-interest method over the lease term. Pre-production design and development costs — The Company enters into contractual agreements with certain customers to design and develop molds, dies, and tools (collectively, “tooling”). All such tooling contracts relate to parts that the Company will supply to customers under long-term supply agreements. Tooling costs are accumulated in work in process inventory and are charged to operations as the related revenue from the tooling is recognized. The Company’s revenue recognition policies require the Company to make significant judgments and estimates regarding timing of recognition based on timing of the transfer of control to the customer. The Company analyzes several factors, including but not limited to, the nature of the products being sold and the contractual terms and conditions in contracts with customers to help the Company make such judgments about revenue recognition. For tooling revenue recognized over time, the Company's significant judgments include, but are not limited to, estimated costs to completion, costs incurred to date, and assessments of risks related to changes in estimates of revenues and costs. The Company's management must make assumptions regarding the work required to fulfill the performance obligations, which is dependent upon the execution by the Company's subcontractors, among other variables and contract requirements. Periodically, the Company enters into contractually guaranteed reimbursement arrangements as a mechanism to collect amounts due from customers from tooling sales. Under these arrangements, amounts due from tooling sales are collected as parts are delivered over the part supply arrangement, in accordance with the specific terms of the arrangement. The amounts due from the customer in such transactions are recorded in “Prepaid expenses and other current assets” or “Other assets, net” based upon the expected term of the reimbursement arrangement. The following tooling related assets were included in the respective lines of the Consolidated Balance Sheets: At December 31, In thousands 2020 2019 Inventories $ 2,769 $ 1,777 Prepaid expenses and other current assets 711 530 Other assets, net 1,952 1,757 Total tooling related assets $ 5,432 $ 4,064 Amounts included in “Prepaid expenses and other current assets” include the short-term portion of receivables due under contractually guaranteed reimbursement arrangements. Company owned tooling is recorded in “Property, plant and equipment, net” at December 31, 2020 and December 31, 2019. Property, plant and equipment — Property, plant and equipment are recorded at cost. Depreciation is computed primarily on a straight-line basis over the estimated useful lives of the assets. The cost and accumulated depreciation amounts applicable to assets sold or otherwise disposed of are removed from the asset and accumulated depreciation accounts and any net gain or loss is credited to or charged against income. Expenses for maintenance and repairs are expensed as incurred. During 2020, the Company approved capital investments totaling approximately $38.0 million for the production of fine fiber meltblown filtration media used in N95 respirator and surgical and medical masks in its Performance Materials segment's Rochester, New Hampshire and Saint-Rivalain, France facilities. The Company entered into an agreement with the U.S. Government that provides $13.5 million in funding towards the Rochester, New Hampshire investment. The Company also entered into an agreement with the French Government that provides up to 30% of the Saint-Rivalain, France investment to be funded by a grant from the French Government. The funding provided by both the U.S. and French governments are accounted for as a reduction to property, plant and equipment. Revenue recognition — Under ASC 606, "Revenue from Contracts with Customers", ("ASC 606"), the amount of revenue recognized for any goods or services reflects the consideration that the Company expects to be entitled to receive in exchange for those goods or services. To achieve this core principle, the Company applies the following five step approach: (1) identify the contract with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to performance obligations in the contract; and (5) recognize revenue when or as a performance obligation is satisfied. A contract is accounted for when there has been approval and commitment from both parties, the rights of the parties are identified, payment terms are identified, the contract has commercial substance, and collectability of consideration is probable. Performance obligations under a contract are identified based on the goods or services that will be transferred to the customer that are both capable of being distinct and are distinct in the context of the contract. The transaction price is determined based on the consideration that the Company will be entitled to in exchange for transferring goods or services to the customer. To the extent the transaction price includes variable consideration, the Company estimates the amount of variable consideration that should be included in the transaction price, generally utilizing the most likely amount method. Performance obligations are satisfied either over time or at a point in time as discussed in further detail below. In addition, the Company's contracts with customers generally do not include significant financing components or non-cash consideration. The Company's 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 certain judgments and estimates. 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. 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 depending on when control of the Company’s products transfers to its customers. 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’s standard sales and shipping terms are FOB shipping point and, therefore, most point in time revenue is recognized upon shipment. The Company, however, conducts business with certain customers on FOB destination terms and in these instances point in time revenue is recognized upon receipt by the customer. In circumstances when control transfers over time, revenue is recognized based on the extent of progress towards completion of the performance obligation. Changes in estimates for revenue recognized over time are recorded by the Company in the period they become known. Changes are recognized on a cumulative catch-up basis in net sales, costs of sales, and operating income. The cumulative catch up adjustment recognizes in the current period the cumulative effect of changes in estimates on current and prior periods. Due to the nature of the work required to be performed on many of the Company’s performance obligations, the process of estimating total revenue and cost at completion is complex, subject to many variables, and requires significant judgment. See Note 2, "Revenue from Contracts with Customers", in these Notes to the Consolidated Financial Statements for more information. Sales returns and allowances are recorded as identified or communicated by the customer and internally approved. The Company does not provide customers with general rights of return for products sold; however, in limited circumstances, the Company will allow sales returns and allowances from customers if the products sold do not conform to specifications. The Company's accounting policy is to record shipping and handling activities occurring after control has passed to the customer as a fulfillment cost rather than as a distinct performance obligation. Shipping and handling expenses consist primarily of costs incurred to deliver products to customers and internal costs related to preparing products for shipment and are recorded as a cost of sales. Amounts billed to customers as shipping and handling are classified as revenue when the services are performed. Selling, product development and administrative expenses — Selling expenses primarily consist of advertising, promotion, employee payroll and corresponding benefits and commissions paid to sales and marketing personnel. Development costs are primarily composed of research and development personnel salaries, prototype material costs and testing and trials of new products. Research and development costs are expensed as incurred and amounted to $10.3 million in 2020, $11.2 million in 2019, and $10.6 million in 2018. Administrative expenses primarily consist of employee payroll including executive, administrative and financial personnel and corresponding benefits, incentive compensation, consulting expenses, professional fees (accounting and legal costs are expensed as incurred), depreciation and amortization costs and other general and administrative types of expenses. Transfers of financial assets — The Company accounts for transfers of financial assets as sold when it has surrendered control over the related assets. Whether control has been relinquished requires, among other things, an evaluation of relevant legal considerations and an assessment of the nature and extent of the Company's continuing involvement with the assets transferred. Gains or losses and any expenditures stemming from the transfers are included in "Other (Income) Expense, net" in the Consolidated Statements of Operations. Assets obtained and liabilities incurred in connection with transfers reported as sold are initially recognized in the Consolidated Balance Sheets at fair value. Beginning in December 2019, the Company maintains 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 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 the sale to the bank 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, when the customer pays. Total trade accounts receivable balances sold under both arrangements were $77.4 million and $16.0 million during 2020 and 2019, respectively. Total cash received was $71.1 million and $14.9 million in 2020 and 2019, respectively. Total fees incurred were $0.4 million and $0.1 million in 2020 and 2019, respectively. The Company's Amended Credit Agreement allows the Company to sell trade accounts receivable to approved third parties in connection with Receivable Purchases Agreements, or similar agreements. At any given time, outstanding trade accounts receivables balances sold cannot exceed $10.0 million for a certain approved customer and $50.0 million in aggregate for any other approved group of customers. Translation of foreign currencies — Assets and liabilities of foreign subsidiaries are translated at exchange rates prevailing as of the balance sheet date. Revenues and expenses are translated at average exchange rates prevailing during the period. Any resulting translation gains or losses are reported in other comprehensive income (loss). Valuation of long-lived assets — The Company evaluates the recoverability of long-lived assets, such as property, plant and equipment and purchased intangible assets subject to amortization, whenever events or changes in circumstances indicate that carrying amounts may not be recoverable. If circumstances require a long-lived asset be tested for possible impairment, the Company evaluates whether the carrying value of such assets will be recovered through undiscounted expected future cash flows and/or a market approach by which fair value is determined based on an independent appraisal of the long-lived assets. If the fair value is less than the carrying value, the Company will recognize an impairment loss based on the excess of the carrying amount over the fair value of the assets. During the three-month period ended March 31, 2020, the COVID-19 pandemic was a triggering event that required the Company to perform an impairment assessment of long-lived assets for certain operations in its Performance Materials and Thermal Acoustical Solutions segments. 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 strategic actions. One such action was a review of an underperforming European facility within the Performance Materials segment. As a result of a strategic shift regarding this facility, the Company performed an impairment assessment of the long-lived assets of the facility. Based on the results, the Company recorded a long-lived impairment charge of $12.4 million. See Note 6, "Goodwill and Other Intangible Assets," in these Notes to the Consolidated Financial Statements for additional information. Recent Accounting Standards Recent Accounting Standards 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 con

REVENUE FROM CONTRACTS WITH CUS

REVENUE FROM CONTRACTS WITH CUSTOMERS	12 Months Ended
	Dec. 31, 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. During 2018, the Company adopted ASU 2014-09, Revenue from Contracts with Customers, on a modified retrospective basis, which provided for comprehensive changes in revenue recognition and superseded nearly all existing U.S. GAAP. The Company analyzes several factors, including but not limited to, the nature of the products being sold and contractual terms and conditions in contracts with customers to help the Company make such judgments about revenue recognition. The Company accounts for revenue from contracts with customers when there is approval and commitment from both parties, the rights of the parties are identified, payment terms are identified, the contract has commercial substance and collectability of consideration is probable. Revenue is primarily derived from customer purchase orders, master sales agreements, and negotiated contracts, all of which represent contracts with customers. The Company next identifies the performance obligations in the contract. A performance obligation is a promise to provide distinct goods or services. Performance obligations are the unit of account for purposes of applying the revenue standard and therefore determines when and how revenue is recognized. The Company determines the performance obligations at contract inception based on the goods that are promised in a contract with a customer. Typical performance obligations include automotive parts, automotive tooling, rolled good media and filter bags. The transaction price in the contract is determined based on the consideration to which the Company will be entitled in exchange for transferring products to the customer, excluding amounts collected on behalf of third parties (for example, sales taxes). The transaction price is typically included on the purchase order or included in a negotiated agreement. Certain contracts may include variable consideration in the transaction price, such as rebates, pricing discounts, price concessions, sales incentives, index pricing or other provisions that can decrease the transaction price. Estimates of variable consideration and determination of whether to include estimated amounts in the transaction price are based on reasonably available information, such as historical customer information, current and/or forecast information and/or other relevant data. In certain circumstances where a particular outcome is probable, the Company utilizes the most likely amount to which the Company expects to be entitled. The Company accounts for consideration payable to a customer as a reduction of the transaction price thereby reducing the amount of revenue recognized. Consideration payable to a customer includes cash amounts that the Company pays, or expects to pay, to a customer based on certain contract requirements. The Company recognizes revenue as performance obligations are satisfied, which can be either over time or at a point in time, depending on when control of the Company’s products transfers to its customers. In circumstances when control transfers over time, revenue is recognized based on the extent of progress towards completion of the performance obligation. Due to the nature of the work required to be performed on many of the Company’s performance obligations, the estimation of total revenue and cost at completion is complex, subject to many variables and requires judgment. The selection of the method to measure progress towards completion requires judgment and is based on the nature of the products to be provided. The Company generally uses the cost-to-cost measure of progress for contracts because it best depicts the transfer of control to the customer which occurs as costs are incurred on contracts. Under the cost-to-cost measure of progress, the extent of progress towards completion is measured based on the ratio of costs incurred to date to the total estimated costs at completion of the performance obligation. Revenues are recorded proportionally as costs are incurred. For tooling revenue recognized over time, the Company makes judgments which include, but are not limited to, estimated costs to completion, costs incurred to date, and assessment of risks related to changes in estimates of revenues and costs. In doing so, management must make assumptions regarding the work required to fulfill the performance obligations, which is dependent upon the execution by the Company's subcontractors, among other variables and contract requirements. Changes in estimates for revenue recognized over time are recorded by the Company in the period they become known. Changes are recognized on a cumulative catch-up basis in net sales, costs of sales, and operating income. The cumulative catch up adjustment recognizes in the current period the cumulative effect of changes in estimates on current and prior periods. The following is a description of products and performance obligations for each of the Company's reportable segments, from which the Company generates its revenue. For more detailed information about reportable segments, see Note 15, "Segment Information", in these Notes to the Consolidated Financial Statements. Performance Materials Products for the Performance Materials segment include filtration media solutions primarily for air, fluid power, life science and industrial applications, gasket and sealing solutions, thermal insulation, energy storage, and other engineered products. These contracts typically have distinct performance obligations, which is the promise to transfer the media solutions to the Company’s customers. The Company recognizes revenue at a point in time or over time, based upon when control transfers to the customer. If revenue is recognized at a point in time, the performance obligation is typically satisfied upon shipment and in accordance with shipping terms. In circumstances when control transfers over time, revenue is recognized based on the extent of progress towards completion of the performance obligation. Customer payment terms are negotiated on a contract-by-contract basis and typically range from 30 to 90 days. Technical Nonwovens The Technical Nonwovens segment produces needle punch nonwoven solutions including industrial filtration and advanced materials products. Industrial filtration products include nonwoven rolled-good felt media and filter bags used primarily in industrial air and liquid filtration applications. Advanced materials products include nonwoven rolled good media used in commercial applications and predominantly serves the geosynthetic, automotive, industrial, medical, and safety apparel markets. The automotive media is provided to Tier 1 and Tier 2 suppliers as well as the Company’s Thermal Acoustical Solutions segment. These contracts typically have distinct performance obligations, which is the promise to transfer the industrial filtration or advanced materials products to the Company’s customers. The Company recognizes revenue at a point in time or over time, based upon when control transfers to the customer. If revenue is recognized at a point in time, the performance obligation is typically satisfied upon shipment and in accordance with shipping terms. In circumstances when control transfers over time, revenue is recognized based on the extent of progress towards completion of the performance obligation. For filter bag sales, the Company may enter into warranty agreements that are implied or sold with the product to provide assurance that a product will function as expected and in accordance with certain specifications. This type of warranty is not a separate performance obligation. Customer payment terms are negotiated on a contract-by-contract basis and typically range from 30 to 90 days. Thermal Acoustical Solutions Products for the Thermal Acoustical Solutions segment are composed of parts and tooling product types. The parts products include a full range of innovative engineered products to assist in noise and heat abatement within the transportation and industrial sectors. Part products include thermally shield sensitive components that protect from high heat, improve exhaust gas treatment, lower harmful emissions and assist in the reduction of noise vibration and harshness. Generally, products are sold to original equipment manufacturers and Tier 1 suppliers. The Company also enters into contractual agreements with certain customers within the automotive industry, to design and develop molds, dies and tools, which the Company refers to as tooling product. For part type products, customer contracts typically have distinct performance obligations, which is the promise to transfer manufactured parts to these customers. The Company recognizes parts revenue at a point in time or over time, based upon when control transfers to the customer. If revenue is recognized at a point in time, the performance obligation is typically satisfied upon shipment and in accordance with shipping terms. In circumstances when control transfers over time, revenue is recognized based on the extent of progress towards completion of the performance obligation. For tooling type products, customer contracts typically have distinct performance obligations and are generally completed within one year. The Company periodically enters into multiple contracts with a customer at or near the same time which may be combined for purposes of determining the appropriate transaction price. The Company allocates the transaction price to each performance obligation in the contract based on a relative stand-alone selling price using costs incurred plus an expected margin. The corresponding revenues are recognized over time as the related performance obligations are satisfied. Customer payment terms for part type products are negotiated on a contract-by-contract basis and typically range from 30 to 90 days. Customer payment terms for tooling type products typically range from 30 to 90 days after title transfers to the customer. Occasionally customers make progress payments as the tool is constructed. Contract Assets and Contract Liabilities Contract assets consists of 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, generally when the right to payment becomes unconditional, in which case payment is due based only upon the passage of time. Contract liabilities consists of advance payments received from customers and billings in excess of costs. Contract liabilities generally represent the Company’s obligation to transfer its products to its customers for which the Company has received consideration from its customers. Contract liabilities are included in Other accrued liabilities on the Company’s Consolidated Balance Sheets. Contract assets and liabilities consisted of the following: At December 31, In thousands 2020 2019 Dollar Change Contract assets $ 32,403 $ 28,245 $ 4,158 Contract liabilities $ 3,686 $ 1,441 $ 2,245 The $4.2 million increase in contract assets from December 31, 2019 to December 31, 2020 was primarily due to the timing of billings related to last-time buys of membrane-based filtration media in the Company's Netherlands facility that will be closed in 2021 and, to a lesser extent, the timing of tooling billings to customers. The $2.2 million increase in contract liabilities from December 31, 2019 to December 31, 2020 was primarily due to an increase in customer deposits, partially offset by $1.1 million of revenue recognized in 2020 related to contract liabilities at December 31, 2019. Disaggregation of Revenue The Company disaggregates revenue from customers by geographic region, which 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, based on the region in which the sales originated, for the years ended December 31, 2020, 2019, and 2018 were as follows: For the Year Ended December 31, 2020 In thousands North America Europe Asia Total Net Sales Performance Materials $ 181,741 $ 73,378 $ 9,526 $ 264,645 Technical Nonwovens 134,509 64,624 23,207 222,340 Thermal Acoustical Solutions 195,223 83,253 16,331 294,807 Eliminations and Other (16,998) (753) — (17,751) Consolidated Net Sales $ 494,475 $ 220,502 $ 49,064 $ 764,041 For the Year Ended December 31, 2019 In thousands North America Europe Asia Total Net Sales Performance Materials $ 176,094 $ 61,889 $ 7,497 $ 245,480 Technical Nonwovens 157,579 68,456 29,311 255,346 Thermal Acoustical Solutions 245,870 98,221 17,486 361,577 Eliminations and Other (24,287) (718) — (25,005) Consolidated Net Sales $ 555,256 $ 227,848 $ 54,294 $ 837,398 For the Year Ended December 31, 2018 In thousands North America Europe Asia Total Net Sales Performance Materials $ 117,313 $ 49,055 $ 2,849 $ 169,217 Technical Nonwovens 167,519 73,912 35,640 277,071 Thermal Acoustical Solutions 250,133 99,529 15,765 365,427 Eliminations and Other (25,121) (697) — (25,818) Consolidated Net Sales $ 509,844 $ 221,799 $ 54,254 $ 785,897

DIVESTITURES

DIVESTITURES	12 Months Ended
	Dec. 31, 2020
Discontinued Operations and Disposal Groups [Abstract]
DIVESTITURES	DIVESTITURES On May 9, 2019, the Company sold its Texel Geosol, Inc. ("Geosol") business, a subsidiary of the Company's Texel Technical Materials, Inc. ("Texel") business, for a cash purchase price of $3.0 million. Under the terms of the arrangement, $0.4 million of the total purchase price was withheld and is to be paid to the Company in three annual payments of approximately $0.1 million. The disposition was completed pursuant to a Sale Agreement, dated May 9, 2019, by and between the Company, and the third-party buyer. The Company recognized a pre-tax gain of $1.5 million on the sale, which was reported as non-operating income for the period ended June 30, 2019 ($1.3 million net of income taxes). The Company did not report Geosol as a discontinued operation since it was not considered a strategic shift in the Company's business. Accordingly, the operating results of Geosol are included in the operating results of the Company through the sale date and in the comparable periods.

INVENTORIES

INVENTORIES	12 Months Ended
	Dec. 31, 2020
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES Inventories as of December 31, 2020 and 2019 were as follows: At December 31, In thousands 2020 2019 Raw materials $ 32,258 $ 36,322 Work in process 17,087 14,873 Finished goods 29,651 29,349 Total inventories $ 78,996 $ 80,544 Included in Work in process is net tooling inventory of $2.8 million and $1.8 million at December 31, 2020 and 2019, respectively.

PROPERTY, PLANT AND EQUIPMENT,

PROPERTY, PLANT AND EQUIPMENT, NET	12 Months Ended
	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
PROPERTY, PLANT AND EQUIPMENT, NET	PROPERTY, PLANT AND EQUIPMENT, NET Property, plant and equipment, net as of December 31, 2020 and 2019 were as follows: Estimated At December 31, In thousands 2020 2019 Land – $ 5,030 $ 6,268 Buildings and improvements 10-35 years 108,370 107,721 Machinery and equipment 5-25 years 337,792 308,457 Office equipment 2-8 years 33,574 36,905 Vehicles 3-6 years 1,557 1,516 Assets under finance leases: Land (1) – 240 225 Machinery and equipment 8 years — 200 Office equipment 5 years — 31 486,563 461,323 Accumulated depreciation (291,966) (265,586) Accumulated depreciation of finance leases (30) (143) 194,567 195,594 Construction in progress 19,946 26,048 Total property, plant and equipment, net $ 214,513 $ 221,642 (1) Land under a finance lease is amortized over the lease term.

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS	12 Months Ended
	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER INTANGIBLE ASSETS	GOODWILL AND OTHER INTANGIBLE ASSETS The following table sets forth the gross and carrying amounts of goodwill for each reportable segment and for the Company as of December 31, 2020 and 2019: In thousands Performance Materials Technical Nonwovens Thermal Acoustical Solutions Totals Gross balance at January 1, 2019 $ 143,658 $ 53,254 $ 12,160 $ 209,072 Accumulated impairment (63,000) — (12,160) (75,160) Net Balance at December 31, 2019 $ 80,658 $ 53,254 $ — $ 133,912 In thousands Performance Materials Technical Nonwovens Thermal Acoustical Solutions Totals Gross balance at January 1, 2020 $ 143,659 $ 55,607 $ 12,160 $ 211,426 Accumulated impairment (111,671) — (12,160) (123,831) Net Balance at December 31, 2020 $ 31,988 $ 55,607 $ — $ 87,595 The following table sets forth the changes in the carrying amounts of goodwill for each reportable segment and for the Company as of December 31, 2020 and 2019: In thousands Performance Materials Technical Nonwovens Totals Balance at January 1, 2019 $ 144,626 $ 52,337 $ 196,963 Goodwill reduction (1) (662) — (662) Goodwill impairment (63,000) — (63,000) Currency translation adjustment (306) 917 611 Balance at December 31, 2019 80,658 53,254 133,912 Goodwill impairment (48,671) — (48,671) Currency translation adjustment 1 2,353 2,354 Balance at December 31, 2020 $ 31,988 $ 55,607 $ 87,595 (1) The net decrease in goodwill of $0.7 million in 2019 in the Performance Materials segment was due to a goodwill reduction of $1.3 million as a result of post-closing purchase price adjustments in the second and third quarters of 2019 related to the acquisition of Interface Performance Materials on August 31, 2018, partially offset by acquisition activity in the second quarter of 2019 resulting in an increase in goodwill of $0.6 million. In accordance with U.S. GAAP, the Company performs an assessment of goodwill for impairment at least annually, which the Company generally performs in the fourth quarter, or whenever there is a significant change in events or circumstances that indicate that the fair value of the reporting unit is more likely than not less than the carrying amount of the reporting unit. If the estimated fair value of a reporting unit exceeds its carrying amount, goodwill of the reporting unit is not impaired. To the extent that the carrying value of the reporting unit exceeds its estimated fair value, a goodwill impairment charge will be recognized for the amount by which the carrying value of the reporting unit exceeds its fair value, not to exceed the carrying amount of goodwill. The Company has the option to first assess qualitative factors such as considering capital markets environment, economic conditions, industry trends, results of operations, and other factors. If the results of the qualitative test indicate a potential for impairment, a quantitative test is performed. The quantitative test compares the estimated fair value of each reporting unit to its carrying value. To determine the fair value of the reporting unit, the Company uses a combination of two approaches: the income approach and a market approach (also known as the Guideline Public Company method), both of which are weighted equally. Under the income approach, the Company calculates fair value by taking the discounted cash flows that are based on internal projections and other assumptions deemed reasonable by management and discounting them using an estimated weighted average cost of capital. Under the market approach, fair values are estimated using published market multiples for comparable companies. Changes in these estimates or a continued decline in general economic conditions could change the Company’s conclusion regarding an impairment of goodwill and potentially result in a non-cash impairment loss in a future period. 2020 Impairment Analysis In early 2020, the World Health Organization (“WHO”) characterized COVID-19 as a pandemic. In an effort to contain COVID-19 and slow its spread, governments throughout the world, including global and regional markets served by the Company, enacted various measures, including orders to close "non-essential" businesses, isolate residents in their places of residence and practice social distancing. These actions and the global health crisis caused by COVID-19 adversely impacted some of the Company’s businesses. Each region where the Company conducts business, including North America, Europe and Asia, was impacted by the pandemic. During the three-month period ended March 31, 2020, the Company experienced disruptions in certain operations from lower customer demand directly attributable to the COVID-19 pandemic and the resulting impact on revenue and profitability. Many of the Company's automotive customers temporarily ceased operations during this period and it was difficult to predict the duration of the impact resulting in the following: • The Company’s China facilities carried out a planned temporary shutdown in conjunction with the lunar New Year in late January 2020, which was extended to late February 2020 as a result of government-imposed restrictions. The facilities did not resume operations until late February 2020 and ramped back up moderately in line with customer demand. As of the date of these financial statements, all of the Company’s plants in China are operating and all of the Company's automotive customer plants in China have re-opened. The Company has not experienced any significant disruption to its supply chains in China since resuming operations; • On March 20, 2020, the Company announced ramp-downs at its Thermal Acoustical Solutions operations in North America and Europe as a direct result of customer stoppages. The Company's facilities in North America and Europe have since resumed operations; • Leading economic indicators began to signal a broad economic recession and a future decline in automotive sales; • Certain operations of the Company’s Performance Materials and Technical Nonwovens segments with exposure to automotive and industrial end markets also experienced reductions in sales. At the time, leading economic indicators for certain of these markets signaled a downturn in demand; and • The Company's share price and market capitalization experienced a significant decline. The Company considered the combination of the events above to be triggering events that required an interim impairment analysis for the goodwill held at the Performance Materials and Technical Nonwovens reporting units and for a certain long-lived asset group. Therefore, during the three-month period ended March 31, 2020, in accordance with U.S. GAAP, the Company performed an interim impairment analysis of its goodwill held by the these reporting units, and of certain of its long-lived assets (principally property, plant and equipment and customer relationships). 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 During the three-month period ended December 31, 2020, the Company performed a qualitative assessment of macroeconomic, industry and market events and circumstances as well as the overall financial performance of the Performance Materials and Technical Nonwovens reporting units and concluded it was more likely than not that the fair values of these reporting units exceeded their carrying values. As such, the Company did not perform a quantitative impairment assessment in the three-month period ended December 31, 2020. Goodwill Impairment During the three-month period ended March 31, 2020, the Company performed an interim assessment of goodwill impairment by performing a quantitative goodwill assessment for both the Performance Materials and Technical Nonwovens reporting units. In the quantitative impairment assessment, the Company weighted equally both an income approach and a market approach to determine the fair values 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. Under the market approach, fair values are estimated using published market multiples for comparable companies. 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 the Company's 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 Performance Materials 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 Technical Nonwovens 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 was 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 the COVID-19 pandemic. 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 Performance Materials 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, resulted in a reduction in the fair value of both reporting units. As a result, the carrying value of the Performance Materials reporting unit exceeded its fair value by $48.7 million, resulting in an impairment charge. The fair value of the Technical Nonwovens reporting unit exceeded its carrying value. Therefore, there was no impairment charge for Technical Nonwovens. Other Long-Lived Assets Impairment The COVID-19 pandemic was a triggering event that required the Company to perform an impairment assessment for long-lived assets in accordance with U.S. GAAP for the period ended March 31, 2020. The Company’s long-lived impairment assessment included the following: • 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 an underperforming European facility within the Performance Materials segment. As a result of a strategic shift regarding this facility, the Company performed an impairment assessment of the long-lived asset group of the facility. To determine the recoverability of this asset group, the Company completed an undiscounted cash flow analysis and compared it to the respective carrying value of the asset group. The impairment assessment concluded that the assets were not recoverable because the carrying value exceeded the fair value of the undiscounted cash flows, resulting in 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 an impairment assessment of the long-lived asset groups of its Thermal Acoustical Solutions segment facilities. The Company considered each respective operating facility'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 and compared it to each facility’s respective asset group carrying value. For two of the asset groups, the undiscounted cash flows exceeded the respective carrying value. Therefore, no further assessment of impairment was necessary. For two of the European facilities, the respective undiscounted cash flows did not exceed the respective carrying value of the facility’s asset groups. As part of step two of the impairment assessment, the Company used the market approach to determine the fair value of the respective asset groups for each facility based on independent appraisals of the long-lived assets. Based on this assessment, it was determined that the fair value of each facility’s respective asset group exceeded the respective carrying value. There were no other events or circumstances, as of and for the period ended December 31, 2020, that indicated any further triggering events that required additional impairment assessments of long-lived assets. Changes in future operating results could result in a future non-cash impairment charge. 2019 Impairment Analysis During the fourth quarter of 2019, in accordance with U.S. GAAP, the Company performed its annual impairment assessment of its goodwill held by the Performance Materials and Technical Nonwovens reporting units. In addition, the Company performed an impairment assessment on certain of its long-lived assets (principally machinery and equipment, and buildings and improvements) due to events and changes in circumstances during the fourth quarter of 2019 that indicated an impairment might have occurred. As a result of these impairment assessments, the Company recorded the following impairment charges during the fourth quarter of 2019 discussed below. Goodwill Impairment The Company acquired Interface Performance Materials (“IPM”) in August 2018 resulting in a significant increase in goodwill and intangible asset balances in the Performance Materials segment. Lower than expected 2019 financial results from a slowdown in demand for sealing products and revised future financial projections resulting in a reduction in long-term sales forecasts and cash generation for the Performance Materials reporting unit, caused the Company to perform a qualitative assessment of goodwill for impairment during the fourth quarter of 2019. As a result, the carrying value of the Performance Materials reporting unit exceeded the respective fair value by $63.0 million, resulting in the impairment charge. In the quantitative impairment assessment, the Company weighted equally both an income approach 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. Calculation of future cash flows includes management estimates and assumptions that were 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. 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 fair values are estimated using published market multiples for comparable 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. 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 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 Performance Materials 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. Other Long-Lived Assets Impairment The Company also performed an impairment assessment of the long-lived asset groups for its two Thermal Acoustical Solutions European facilities during the fourth quarter of 2019 due to negative 2019 financial performance compared to the respective budgets, changes in financial projections and general weakening in the European automotive sector. The Company considered each operating facility’s respective asset group, primarily consisting of machinery and equipment, and buildings and improvements. Step one of the impairment assessment failed as the undiscounted cash flows over the useful life of each operating facility’s long-lived asset group did not exceed the respective carrying value of the facility’s asset groups. 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 did not exist because the respective fair value of the long-lived asset groups for each operating facility exceeded the respective carrying values. Changes in future operating results could result in a future non-cash impairment charge. Also during the fourth quarter of 2019, the Company performed an impairment assessment of a discrete long-lived asset group, with a carrying value of $3.0 million (primarily consisting of machinery and equipment and patents), in its Performance Materials segment as a result of negative cash flows in 2019 and an expected reduction in future demand from certain customers impacting projected net sales and cash flows. To determine the recoverability of this asset group, the Company completed an undiscounted cash flow analysis and compared it to the respective carrying value of the asset group. This analysis was primarily dependent on the expectations of the net sales over the estimated remaining useful life of the underlying asset group. The impairment assessment concluded that the asset group was not recoverable because the carrying value exceeded the fair value of the undiscounted cash flows, resulting in a long-lived asset impairment charge of $1.2 million. Other Intangible Assets Other intangible assets consisted of: At December 31, 2020 At December 31, 2019 In thousands Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Amortized intangible assets Customer relationships $ 143,479 $ (50,076) $ 142,400 $ (30,648) Patents 650 (616) 759 (607) Technology 2,500 (1,144) 2,500 (977) Trade names 7,495 (7,167) 7,293 (5,143) License agreements 185 (185) 610 (610) Other 467 (467) 551 (551) Total other intangible assets $ 154,776 $ (59,655) $ 154,113 $ (38,536) The decrease in other intangible assets, net balance at December 31, 2020, as compared to December 31, 2019, was primarily attributable to amortization expense. Total amortization expense for the years ended December 31, 2020, 2019, and 2018 was $20.8 million, $21.5 million, and $9.3 million, respectively.

LONG-TERM DEBT AND FINANCING AR

LONG-TERM DEBT AND FINANCING ARRANGEMENTS	12 Months Ended
	Dec. 31, 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 senior secured revolving credit agreement by and among the Company, as borrower, and certain direct and indirect subsidiaries as guarantors, and Bank of America, N.A., as Administrative agent, Lender, L/C Issuer and Swingline Lender, and Wells Fargo Bank, N.A., JPMorgan Chase Bank, N.A., KeyBank N.A, Santander Bank, N.A., TD Bank, N.A., and Webster Bank, N.A, as Lenders (the "2018 Credit Agreement) to increase the total borrowing from $175 million to $450 million, add three additional lenders, and extend the maturity date to August 31, 2023. The 2018 Credit Agreement was further amended on February 14, 2020, May 11, 2020 and October 14, 2020 (collectively, the “Amendments;” and, together with the 2018 Credit Agreement, the “Amended Credit Agreement”). The Amendments modified the Credit Agreement by, (i) excluding certain non-cash, certain restructuring costs and certain other costs from the calculation of EBITDA used in the calculation of the financial debt covenants, (ii) reducing total borrowings from $450 million to $314 million, (iii) modifying financial covenants (at least one of which the Company expected to fail under the Credit Agreement absent of the Amendments), (iv) established a floor on the Base and Eurocurrency Rate of 1%, (v) requiring minimum cash and cash equivalent balances to be maintained, (vi) increasing the Base Rate and Applicable Rate for committed loans, and (vii) increasing the quarterly commitment fee charged on the unused portion of the revolving commitment, among other modifications. The Amended Credit Agreement matures on August 31, 2023 and has a revolving commitment of $170.0 million and term loan commitment of $144.0 million. The Lenders have been granted a security interest in substantially all of Lydall Inc.'s and its domestic subsidiaries’ personal property and other assets (including intellectual property), including a pledge of 65% of the Company’s equity interest in certain foreign subsidiaries and 100% of the Company’s equity interest in its domestic subsidiaries, as collateral for the Company’s obligations under the Amended Credit Agreement. The term loan commitment requires quarterly payments of principal (which commenced on December 31, 2018) at the rate of $2.5 million, with the remaining balance due in the final quarter of the Amended Credit Agreement’s term. The Company is permitted to prepay amounts outstanding under the Amended Credit Agreement in whole or in part at any time without premium or penalty, and the Company is generally permitted to irrevocably cancel unutilized portions of the revolving commitments. Interest is charged on borrowings at the Company’s option of either: (i) Base Rate plus the Applicable Rate, or (ii) the Eurodollar Rate plus the Applicable Rate. The Base Rate is a fluctuating rate equal to the highest of (a) the federal funds rate plus 0.50%, (b) the prime rate as set by Bank of America, and (c) the Eurocurrency Rate plus 1.00%. The Eurocurrency Rate means (i) if denominated in LIBOR quoted currency, a fluctuating LIBOR per annum rate equal to the London Interbank Offered Rate; (ii) if denominated in Canadian Dollars, the rate per annum equal to the Canadian Dollar Offered Rate; or (iii) the rate per annum as designated with respect to such alternative currency at the time such alternative currency is approved by the Lenders. The Applicable Rate is determined based on the Company’s Consolidated Net Leverage Ratio (as defined in the Amended Credit Agreement). The Applicable Rate added to the Base Rate Committed Loans ranges from 2.00% to 3.25%, and the Applicable Rate added to Eurocurrency Rate Committed Loans and Letters of Credit ranges from 3.00% to 4.25%. The Company pays a quarterly fee of 0.375% on the unused portion of the revolving commitment. The Company has entered into multiple interest rate swaps to convert a portion of the Company's borrowings from a variable rate to a fixed rate. See Note 8, "Derivatives", in these Notes to the Consolidated Financial Statements for additional information. The Amended Credit Agreement contains customary affirmative and negative covenants, including covenants limiting the Company and its subsidiaries to, among other things, incur debt, grant liens, make certain investments, engage in a line of business substantially different from business conducted by the Company, transact with affiliates, restricted payments, and sell assets. The Amended Credit Agreement contains financial covenants required of the Company and its subsidiaries. The Company is required to meet certain quarterly financial covenants including: i. A Minimum Consolidated Fixed Charge Coverage Ratio, which requires that at the end of each fiscal quarter the ratio of (a) consolidated EBITDA to (b) the sum of consolidated interest charges, redemptions, non-financed maintenance capital expenditures, restricted payments and taxes paid, each as defined in the Amended Credit Agreement, may not be less than 1.00 to 1.00 calculated on a trailing twelve month basis through the period ending June 30, 2020, 1.25:1.00 calculated on a distinct quarterly basis beginning with the period ended September 30, 2020 through the period ended June 30, 2021, and 1.25:1.00 calculated on a trailing twelve month basis beginning with the period ending September 30, 2021 and thereafter; and ii. A Consolidated Net Leverage Ratio, which requires that at the end of each fiscal quarter the ratio of consolidated funded indebtedness minus consolidated domestic cash to consolidated EBITDA, as defined in the Amended Credit Agreement, not be greater than 6.50:1.00 through the period ended March 31, 2021, 4.50:1.00 beginning with the period ending June 30, 2021 through the period ending March 31, 2022, and 3.50:1.00 beginning with the period ended June 30, 2022 and thereafter. The Amended Credit Agreement, permits the Company to exclude certain non-cash charges and certain restructuring and other expenses, as defined by the Amended Credit Agreement, from EBITDA in the calculation of the Company's financial covenants. The Company is also required to maintain a minimum cash and cash equivalents balance of $40 million, excluding deposit accounts in China. The Company was in compliance with all covenants as of and for the quarter ended December 31, 2020 and the Company does not anticipate noncompliance in the foreseeable future. At December 31, 2020, the Company had amounts available for borrowing of $33.7 million under the Amended Credit Agreement, net of $134.5 million of revolver borrowings outstanding and standby letters of credit outstanding of $1.8 million. The total borrowings outstanding include a $135.9 million term loan, net of $0.6 million in debt issuance costs being amortized to interest expense over the term of the Amended Credit Agreement. In addition to the amounts outstanding under the Amended Credit Agreement, the Company has various foreign credit facilities totaling approximately $11.0 million. At December 31, 2020, the Company's foreign subsidiaries had $1.4 million in standby letters of credit outstanding. Total outstanding debt consists of: At December 31, In thousands Effective Rate Maturity 2020 2019 Revolver loan 4.25% 8/31/2023 $ 134,500 $ 126,500 Term loan, net of debt issuance costs 4.25% 8/31/2023 135,938 146,106 Finance leases 1.65% 10/31/2020 — 35 Total 270,438 272,641 Less portion due within one year (9,789) (9,928) Total long-term debt, net of debt issuance costs $ 260,649 $ 262,713 As of December 31, 2020, total debt maturing in 2021, 2022, and 2023 is $10.0 million, $10.0 million and $251.0 million, respectively. The weighted average interest rate on long-term debt was 5.3%, 4.3% and 3.4% for the years ended December 31, 2020, 2019, and 2018, respectively. Debt issuance costs in connection with the Amended Credit Agreement have been capitalized and are being amortized over the term of the agreement. Total amortization expense for the years ended December 31, 2020, 2019, and 2018, was $1.0 million, $0.3 million, and $0.2 million, respectively.

DERIVATIVES

DERIVATIVES	12 Months Ended
	Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVES	DERIVATIVES The Company selectively uses financial instruments to manage market risk associated with exposure to fluctuations in interest rates 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 impacts 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. Prior to May 11, 2020, these instruments were designated as cash flow hedges and are recorded at fair value. See Note 9, "Fair Value Measurements" in these Notes to the Consolidated Financial Statements 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 7, "Long-Term Debt and Financing Arrangements", in these Notes to the Consolidated Financial Statements. 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 was 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 are 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 earnings / (losses) 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 December 31, 2020 was $3.9 million, net of tax. The amount reclassified out of other comprehensive income into interest expense on the Company's Consolidated Statement of Operations for the year ended December 31, 2020 was $2.3 million. The Company expects $2.8 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 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 ($75.0 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. Also, settlement of the notional €22.6 million ($25.0 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 Consolidated Statements of Operations. Derivative instruments are recognized as either assets or liabilities on the balance sheet in Prepaid expenses and other assets, Other assets, net, Derivative liabilities, Other accrued liabilities or Other long-term liabilities depending upon maturity and the amount. 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 and presented in the Consolidated Balance Sheet as Derivative liabilities: At December 31, 2020 At December 31, 2019 In thousands Asset Derivatives Liability Derivatives Asset Derivatives Liability Derivatives Derivatives designated as hedging instruments: Interest rate contracts $ — $ 5,063 $ 2 $ 4,538 Cross-currency swaps — 6,933 — 1,817 Total derivatives $ — $ 11,996 $ 2 $ 6,355 The following table sets forth the income (loss), recorded in accumulated other comprehensive loss, net of tax, for the years ended December 31, 2020 and 2019 for derivatives held by the Company and designated as hedging instruments: For the Year Ended In thousands 2020 2019 Cash flow hedges: Interest rate contracts $ (391) $ (1,500) Cross-currency swaps (3,952) (1,403) Total derivatives $ (4,343) $ (2,903)

FAIR VALUE MEASURES

FAIR VALUE MEASURES	12 Months Ended
	Dec. 31, 2020
Fair Value Disclosures [Abstract]
FAIR VALUE MEASURES	FAIR VALUE MEASURES 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: At December 31, 2020 At December 31, 2019 In thousands Carrying Value Fair Value Carrying Value Fair Value Debt $ 271,000 $ 272,792 $ 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, contract assets, and accounts payable approximate their carrying 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. These derivative instruments were included on the Consolidated Balance Sheets as Derivative liabilities at December 31, 2020 and Other current assets and Other accrued liabilities at December 31, 2019. 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 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 segment's European businesses. During 2019, the Company incurred a $63.0 million impairment charge for goodwill at its Performance Materials segment and a $1.2 million impairment charge for a discrete asset group at one of the Performance Materials segment's facilities. See Note 6, "Goodwill and Other Intangible Assets", in these Notes to the Consolidated Financial Statements for information regarding the calculation of fair value.

LEASES

LEASES	12 Months Ended
	Dec. 31, 2020
Leases [Abstract]
LEASES	LEASES Effective January 1, 2019, the Company adopted ASC 842, "Leases" ("ASC 842"), as amended, which superseded lease accounting guidance under ASC 840, and requires most leases to be capitalized on the balance sheet as a right-of-use (“ROU”) asset and lease liability. The ROU assets represent the Company’s right to use the underlying asset during the lease term and lease liabilities represent the Company’s financial obligation under the contractual arrangement. ASC 842 represents a wholesale change to lease accounting and is intended to provide a more complete representation of a company’s assets and liabilities and deliver greater transparency about the company’s obligations and leasing activities. At December 31, 2020 , the Company had 144 operating leases composed of office buildings, warehouses, office equipment, machinery, and vehicles in addition to one finance lease as of December 31, 2020 . The Company’s operating leases have remaining lease terms of a few months to 13 years, some of which have renewal options that range from about one cable. The Company's single finance lease at December 31, 2020 is derived from a land-use agreement in Yixing, China that extends through 2049. The contractual rent payments for this lease were prepaid, in full, when the agreement was entered into and, therefore, there is no liability associated with this lease. As permitted by ACS 842, lease terms of twelve months or less, including options reasonably expected to be exercised, are considered short-term and are excluded from the ROU Asset and Lease Liability accounts on the Consolidated Balance Sheets. Consistent with all other operating leases, short-term lease expense is recorded on a straight-line basis over the lease term. In accordance with ASC 842, the Company determines if an arrangement is, or contains, a lease at inception. ROU assets and lease liabilities are recognized at the commencement date based on the present value of remaining lease payments over the lease term. While most leases have fixed payments schedules, some leases contain variable lease payments based on market indices such as LIBOR or include additional payments based on excess consumption. In such cases, the Company only considers payments that are fixed and determinable at the commencement date when determining the lease liability and ROU asset. As most leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at commencement date when determining the present value of lease payments. At December 31, 2020 , the weighted average discount rate for operating leases was 4.27% and there is no discount rate associated with the single finance lease since there is no related lease liability. The implicit rate is used when readily determinable from a lease. Operating leases are included in Operating lease right-of-use assets, Other accrued liabilities, and Long-term lease liabilities in the Company's Consolidated Balance Sheets. Finance leases, when applicable, are included in Property, plant and equipmen t, Current portion of long-term debt, and Long-term debt, excluding current portion, net of debt issuance costs in the Company's Consolidated Balance Sheets. The Company has some lease agreements with lease and non-lease components, which are generally accounted for as one component as permitted by ASC 842. The Company has one lease agreement that was entered into in 2020 that had not yet commenced as of December 31, 2020. A new warehouse lease in Québec, Canada was executed on December 9, 2020 and commences on January 1, 2021, resulting in a new ROU asset and related lease liability of approximately $2.5 million. This new lease is not reflected in the tables below. The components of lease expense are as follows: For the Year Ended December 31, In thousands 2020 2019 Finance lease expense: Amortization of right-of-use assets $ 42 $ 81 Interest on lease liabilities — 2 Operating lease expense 6,005 6,510 Short-term lease expense 1,571 918 Variable lease expense 678 199 Total lease expense $ 8,296 $ 7,710 Supplemental balance sheet information related to leases are as follows: At December 31, In thousands, except lease term 2020 2019 Operating leases: Operating lease right-of-use assets $ 22,243 $ 23,116 Short-term lease liabilities, included in Other accrued liabilities $ 4,466 $ 4,789 Long-term lease liabilities 17,947 18,424 Total operating lease liabilities $ 22,413 $ 23,213 Finance leases: Property, plant and equipment $ 240 $ 456 Accumulated depreciation (30) (143) Property, plant and equipment, net $ 210 $ 313 Short-term lease liabilities, included in debt $ — $ 35 Total finance lease liabilities $ — $ 35 Weighted average remaining lease term (in years): Operating leases 6.3 7.1 Finance leases 28.7 20.4 Supplemental cash flow information related to leases are as follows: For the Year Ended December 31, In thousands 2020 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 6,011 $ 6,301 Operating cash flows from finance leases — 2 Financing cash flows from finance leases 34 240 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 2,779 $ 1,743 Finance leases — — As of December 31, 2020, future lease payment maturities were as follows (note that there are no future lease payments associated with the Company's single finance lease as of December 31, 2020 as the lease was prepaid in full when the contract was executed): In thousands For the Year Ended December 31, Operating Leases 2021 $ 5,293 2022 4,501 2023 3,398 2024 2,465 2025 2,280 Thereafter 8,318 Total lease payments 26,255 Less imputed interest (3,842) Total discounted future lease payments $ 22,413
LEASES	LEASES Effective January 1, 2019, the Company adopted ASC 842, "Leases" ("ASC 842"), as amended, which superseded lease accounting guidance under ASC 840, and requires most leases to be capitalized on the balance sheet as a right-of-use (“ROU”) asset and lease liability. The ROU assets represent the Company’s right to use the underlying asset during the lease term and lease liabilities represent the Company’s financial obligation under the contractual arrangement. ASC 842 represents a wholesale change to lease accounting and is intended to provide a more complete representation of a company’s assets and liabilities and deliver greater transparency about the company’s obligations and leasing activities. At December 31, 2020 , the Company had 144 operating leases composed of office buildings, warehouses, office equipment, machinery, and vehicles in addition to one finance lease as of December 31, 2020 . The Company’s operating leases have remaining lease terms of a few months to 13 years, some of which have renewal options that range from about one cable. The Company's single finance lease at December 31, 2020 is derived from a land-use agreement in Yixing, China that extends through 2049. The contractual rent payments for this lease were prepaid, in full, when the agreement was entered into and, therefore, there is no liability associated with this lease. As permitted by ACS 842, lease terms of twelve months or less, including options reasonably expected to be exercised, are considered short-term and are excluded from the ROU Asset and Lease Liability accounts on the Consolidated Balance Sheets. Consistent with all other operating leases, short-term lease expense is recorded on a straight-line basis over the lease term. In accordance with ASC 842, the Company determines if an arrangement is, or contains, a lease at inception. ROU assets and lease liabilities are recognized at the commencement date based on the present value of remaining lease payments over the lease term. While most leases have fixed payments schedules, some leases contain variable lease payments based on market indices such as LIBOR or include additional payments based on excess consumption. In such cases, the Company only considers payments that are fixed and determinable at the commencement date when determining the lease liability and ROU asset. As most leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at commencement date when determining the present value of lease payments. At December 31, 2020 , the weighted average discount rate for operating leases was 4.27% and there is no discount rate associated with the single finance lease since there is no related lease liability. The implicit rate is used when readily determinable from a lease. Operating leases are included in Operating lease right-of-use assets, Other accrued liabilities, and Long-term lease liabilities in the Company's Consolidated Balance Sheets. Finance leases, when applicable, are included in Property, plant and equipmen t, Current portion of long-term debt, and Long-term debt, excluding current portion, net of debt issuance costs in the Company's Consolidated Balance Sheets. The Company has some lease agreements with lease and non-lease components, which are generally accounted for as one component as permitted by ASC 842. The Company has one lease agreement that was entered into in 2020 that had not yet commenced as of December 31, 2020. A new warehouse lease in Québec, Canada was executed on December 9, 2020 and commences on January 1, 2021, resulting in a new ROU asset and related lease liability of approximately $2.5 million. This new lease is not reflected in the tables below. The components of lease expense are as follows: For the Year Ended December 31, In thousands 2020 2019 Finance lease expense: Amortization of right-of-use assets $ 42 $ 81 Interest on lease liabilities — 2 Operating lease expense 6,005 6,510 Short-term lease expense 1,571 918 Variable lease expense 678 199 Total lease expense $ 8,296 $ 7,710 Supplemental balance sheet information related to leases are as follows: At December 31, In thousands, except lease term 2020 2019 Operating leases: Operating lease right-of-use assets $ 22,243 $ 23,116 Short-term lease liabilities, included in Other accrued liabilities $ 4,466 $ 4,789 Long-term lease liabilities 17,947 18,424 Total operating lease liabilities $ 22,413 $ 23,213 Finance leases: Property, plant and equipment $ 240 $ 456 Accumulated depreciation (30) (143) Property, plant and equipment, net $ 210 $ 313 Short-term lease liabilities, included in debt $ — $ 35 Total finance lease liabilities $ — $ 35 Weighted average remaining lease term (in years): Operating leases 6.3 7.1 Finance leases 28.7 20.4 Supplemental cash flow information related to leases are as follows: For the Year Ended December 31, In thousands 2020 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 6,011 $ 6,301 Operating cash flows from finance leases — 2 Financing cash flows from finance leases 34 240 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 2,779 $ 1,743 Finance leases — — As of December 31, 2020, future lease payment maturities were as follows (note that there are no future lease payments associated with the Company's single finance lease as of December 31, 2020 as the lease was prepaid in full when the contract was executed): In thousands For the Year Ended December 31, Operating Leases 2021 $ 5,293 2022 4,501 2023 3,398 2024 2,465 2025 2,280 Thereafter 8,318 Total lease payments 26,255 Less imputed interest (3,842) Total discounted future lease payments $ 22,413

CAPITAL STOCK

CAPITAL STOCK	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
CAPITAL STOCK	CAPITAL STOCK Preferred Stock The Company has authorized 500,000 shares of Preferred Stock with a par value of $0.01. None of the 500,000 authorized shares of Preferred Stock have been issued. Common Stock As of December 31, 2020, there are 8,165 stockholders of record, which held 17,838,052 shares of Common Stock. Dividend Policy The Company does not pay a cash dividend on its Common Stock. The Company’s Amended Credit Agreement does not place any restrictions on cash dividend payments, so long as the payments do not place the Company in default.

EMPLOYER SPONSORED BENEFIT PLAN

EMPLOYER SPONSORED BENEFIT PLANS	12 Months Ended
	Dec. 31, 2020
Retirement Benefits [Abstract]
EMPLOYER SPONSORED BENEFIT PLANS	EMPLOYER SPONSORED BENEFIT PLANSAs of December 31, 2020, the Company maintained one domestic pension plan: the Retirement Income Plan for Employees of Interface Performance Materials, Inc. ("IPM Pension Plan"). During the three-month period ended March 31, 2020, the Company settled the pension obligation of the previously terminated Interface Sealing Solutions, Inc. Pension Plan ("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, which was 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 Consolidated Statements of Operations. The IPM Pension Plan covers a portion of Interface Performance Materials' union and non-union employees. This plan is closed to new employees and benefits are no longer accruing for the majority of participants. The Company contributed $1.9 million to the IPM Pension Plan and the ISS Pension Plan during 2020. The Company’s general funding policy is not to fund less than the ERISA minimum funding standard and not more than the maximum amount that can be deducted for federal income tax purposes. During 2019, the Company terminated and 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. These purchases, funded with pension assets, resulted in a pre-tax settlement loss of $25.7 million in 2019 related to the recognition of accumulated deferred actuarial losses for the U.S. Lydall Pension Plan as well as settlement-related fees and expenses. The settlement loss was included as non-operating expense in the Consolidated Statements of Operations. No contributions were made to the U.S. Lydall Pension Plan during the year ended December 31, 2019. During 2019 and 2018, certain union employees of Interface Performance Materials participated in a separate multi-employer pension plan. There were no significant contributions to the multi-employer plan during 2019 and 2018. In the fourth quarter of 2019, the Company negotiated with its union employees and the multi-employer pension plan for the Company's withdrawal from the plan and the Company satisfied all outstanding obligations with a payment of $2.2 million, which was previously accrued on the Company's Consolidated Balance Sheets in the amount of $2.7 million, resulting in a pension settlement gain of $0.5 million in 2019. The plan assets and benefit obligations for the period ended December 31, 2020 were composed of the IPM Pension Plan and the plan assets and benefit obligations for the period ended December 31, 2019 were composed of the IPM Pension Plan, the former U.S. Lydall Pension Plan and the former ISS Pension Plan as follows: For the Year Ended December 31, In thousands 2020 2019 Change in benefit obligation: Net benefit obligation at beginning of year $ 55,101 $ 102,679 Service cost 134 136 Interest cost 1,706 2,132 Actuarial loss (1) 7,257 5,149 Gross benefits paid (2,835) (2,932) Net effect of remeasurement — (3,290) Settlement (2,920) (48,773) Net benefit obligation at end of year $ 58,443 $ 55,101 Change in plan assets: Fair value of plan assets at beginning of year $ 43,938 $ 87,452 Actual return/(loss) on plan assets 6,430 6,987 Contributions 1,949 1,415 Gross benefits paid (2,835) (2,932) Net effect of remeasurement — (211) Settlement (2,920) (48,773) Fair value of plan assets at end of year $ 46,562 $ 43,938 (1) The Actuarial loss for both the years ended December 31, 2020 and 2019 was a function of a reduction in the discount rate, which serves to increase the benefit obligation. Aggregated information for the domestic defined benefit pension plans with an accumulated benefit obligation in excess of plan assets is provided in the tables below. The domestic defined benefit plans were approximately 80% funded at December 31, 2020 and 2019. For the Year Ended December 31, In thousands 2020 2019 Funded Status Fair value of plan assets $ 46,562 $ 43,938 Accumulated Benefit obligations 58,443 55,101 Funded status of plans $ (11,881) $ (11,163) The Company has recorded liabilities and amounts recognized in accumulated other comprehensive income related to the domestic defined benefit pension plans as follows: For the Year Ended December 31, In thousands 2020 2019 Amounts recognized in the Consolidated Balance Sheets consist of: Current liabilities $ — $ 787 Noncurrent liabilities 11,881 10,376 Total liabilities $ 11,881 $ 11,163 Loss recognized in Accumulated Other Comprehensive Loss, net of tax, consist of: Net actuarial loss $ 4,503 $ 2,579 In addition to the amounts disclosed in the tables above for the Company’s domestic defined benefit pension plans, the Company had both foreign pension plans, and post-retirement benefit plans with life insurance and medical benefits for certain domestic and foreign employees. The accrued benefit liabilities and amounts recognized in other comprehensive income for these other plans are as follows: For the Year Ended December 31, In thousands 2020 2019 Foreign Plans: Net benefit obligation in excess of plan assets $ 5,981 $ 5,274 Loss recognized in accumulated other comprehensive loss, net of tax $ 940 $ 861 Domestic Post-retirement Plans Net benefit obligation in excess of plan assets $ 4,215 $ 3,621 Loss (gain) recognized in accumulated other comprehensive loss, net of tax $ 165 $ (360) Total expenses of approximately $0.5 million were recognized related to the foreign pension and post-retirement benefit plans in both years ended December 31, 2020 and 2019. The ISS Pension Plan, net of tax, included in other comprehensive income decreased by $0.3 million at December 31, 2020 as a result of the settlement. The IPM Pension Plan liability, net of tax, included in other comprehensive income increased by $2.2 million at December 31, 2020. The U.S. Lydall Pension Plan liability, net of tax, included in other comprehensive income decreased by $19.4 million at December 31, 2019 as a result of the settlement. The IPM and ISS Pension Plans liability, net of tax, included in other comprehensive income increased by $0.3 million at December 31, 2019. The components of net periodic benefit cost for the domestic defined benefit pension plans is as follows: For the Year Ended December 31, In thousands 2020 2019 2018 Service cost $ 134 $ 136 $ 46 Interest cost 1,706 2,886 2,595 Expected return on plan assets (2,119) (2,601) (3,339) Amortization of actuarial net loss 2 464 1,024 Total net periodic (benefit) cost $ (277) $ 885 $ 326 Settlement loss 385 25,247 — Total employer pension plan cost $ 108 $ 26,132 $ 326 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 and expense. The major assumptions used in determining the year-end benefit obligation and annual net cost for the domestic defined benefit pension plans are presented in the following table: Benefit Obligation Net Cost For the Year Ended December 31, 2020 2019 2020 2019 2018 Discount rate 2.14 % 3.37 % 3.39 % 3.88 % 3.75 % Expected return on plan assets 5.20 % 5.06 % 5.20 % 4.65 % 5.79 % Plan Assets The domestic defined benefit pension plans are administered by the Lydall Retirement Committee (the "Committee"), which is appointed by the Board of Directors. The Committee’s responsibilities are to establish a funding policy for the Domestic Pension Plans and to appoint and oversee the investment advisor responsible for the plan investments. The Committee is a named fiduciary under the plan, and the Committee has granted discretion to the investment advisor with respect to management of the investments. The IPM Pension Plan is invested for the purpose of investment diversification. In determining the expected return on plan assets, the Committee considers the relative weighting of plan assets, the historical performance of marketable debt and equity securities and other indicators of future performance. Investment management objectives for the IPM Pension Plan include achieving fully funded status with a target of eventual plan termination, maintaining an adequate level of diversification to balance market risk and provide sufficient liquidity for near-term payments of benefits accrued and to pay the administration expenses. Investment decisions are based on the returns and risk relative to the IPM Pension Plan's liabilities, an approach commonly referred to as liability-driven investing. The long-term investment objective of the IPM Pension Plan is to achieve a total return equal to or greater than the assumed weighted rate of return, currently 5.20%. Though it is the intent of the Committee to achieve income and growth, that intent does not include taking extraordinary risks or engaging in investment activities not commonly considered prudent under the standards imposed by ERISA. The following table presents the target allocation of the IPM Pension Plan assets for 2021 and the actual allocation of all domestic defined benefit pension plan assets as of December 31, 2020 and 2019 by major asset category: Target Allocation Actual Allocation of Plan Assets Asset Category 2021 2020 2019 Domestic equities 20% - 40% 32 % 38 % International equities 15% - 35% 27 % 25 % Fixed income 20% - 45% 26 % 18 % Real assets 0% - 10% 5 % 7 % Hedge fund of funds 5% - 15% 9 % 9 % Cash and cash equivalents 0% - 10% 1 % 3 % The investments of the domestic defined benefit plans are valued at fair value, as defined in Note 9, "Fair Value Measurements”, in these Notes to the Consolidated Financial Statements. Certain hedge funds that were measured at fair value using the Net Asset Value ("NAV") practical expedient are included as a reconciling item to the fair value table. The following tables set forth the fair value of the assets by major asset category as of December 31, 2020 and December 31, 2019: At December 31, 2020 In thousands Level 1 Level 2 Measured at NAV Total Carrying Value Domestic equity $ 15,004 $ — $ — $ 15,004 International equity 12,473 — — 12,473 Fixed income 12,293 — — 12,293 Real assets 2,219 — — 2,219 Hedge fund of funds — — 4,280 4,280 Cash and cash equivalents 293 — — 293 Total assets at fair value $ 42,282 $ — $ 4,280 $ 46,562 At December 31, 2019 In thousands Level 1 Level 2 Measured at NAV Total Carrying Value Domestic equity $ 16,729 $ — $ — $ 16,729 International equity 10,903 — — 10,903 Fixed income 3,724 — — 3,724 U.S. government securities — 2,686 — 2,686 Corporate and foreign bonds — 1,701 — 1,701 Real assets 3,010 — — 3,010 Hedge fund of funds 4,009 — — 4,009 Cash and cash equivalents 145 1,031 — 1,176 Total assets at fair value $ 38,520 $ 5,418 $ — $ 43,938 Domestic, international equities, and fixed income consist primarily of mutual funds valued at the closing price reported in the active market in which individual securities are traded and classified as Level 1 investments. Real assets include inflation hedge mutual funds that invest primarily in a portfolio of inflation-protected debt securities, real estate related securities and commodity/natural resource-related securities. The mutual fund, which is valued using quoted market prices, is designed to protect against the long-term effects of inflation on an investment portfolio with the long-term objective of preservation of capital with current income. These investments are classified as Level 1 investments. Hedge funds are mutual funds and pooled funds that employ a range of investment strategies for diversification including equity and fixed income, credit driven, macro and multi oriented strategies. Certain hedge funds were measured at fair value using the NAV practical expedient and are not classified in the fair value hierarchy. Cash and cash equivalents include investments readily converted to cash valued in the active market in which the funds were traded and are classified as Level 1 investments. Non-government money market funds are classified as Level 2 investments. U.S. government securities include U.S. Treasury Notes and Bonds which represent middle range and long-term fixed income investments, and are valued using pricing models maximizing the use of observable inputs for similar securities and classified as Level 2 investments. Corporate and foreign bonds primarily include a diversified portfolio of U.S. corporate debt obligations and are valued using pricing models maximizing the use of observable inputs for similar securities. This includes basing value on yields currently available on comparable securities of issuers with similar credit ratings. When quoted prices are not available for identical or similar bonds, the bond is valued under a discounted cash flows approach that maximizes observable inputs, such as current yields of similar instruments, but includes adjustments for certain risks that may not be observable, such as credit and liquidity risks or a broker quote if available. These investments are classified as Level 2 investments. Estimated Future Contributions and Benefit Payments The Company expects to contribute approximately $0.7 million in cash to the IPM Pension Plan in 2021. Estimated future benefit payments for the IPM Pension Plan are as follows: In thousands 2021 2022 2023 2024 2025 Thereafter Benefit payments $ 3,011 $ 3,054 $ 3,072 $ 3,132 $ 3,183 $ 15,867 Employee Savings Plan

EQUITY COMPENSATION PLANS

EQUITY COMPENSATION PLANS	12 Months Ended
	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
EQUITY COMPENSATION PLANS	EQUITY COMPENSATION PLANSAs of December 31, 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; however, the 2003 Plan continues to govern all outstanding awards granted under the 2003 Plan until the awards granted under the 2003 Plan are exercised or terminate in accordance with the terms of the awards. The 2012 Plan, most recently amended and approved by stockholders 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 type 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 for awards that have cliff vesting, and on a graded vesting basis for time-restricted awards that have graded vesting. Options issued by the Company under its stock option plans have a term of ten three four Time-restricted stock awards are expensed over the vesting period of the award, which is typically two three The Company incurred equity compensation expense of $3.5 million, $2.9 million, and $2.1 million for the y ears ended December 31, 2020, 2019, and 2018, respectively, for all stock-based compensation plans, including restricted stock awards. No compensation costs were capitalized as part of inventory. The associated tax benefit realized was $0.5 million, $0.2 million, and $1.3 million for the years ended December 31, 2020, 2019, and 2018, respectively. Stock Options The fair value of each option granted was estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted-average assumptions: For the Year Ended December 31, 2020 2019 2018 Risk-free interest rate 1.0 % 1.7 % 2.7 % Expected life 5.2 years 5.3 years 5.5 years Expected volatility 43 % 37 % 34 % Expected dividend yield — % — % — % The following is a summary of outstanding and exercisable options: For the Year Ended December 31, In thousands, except per share amounts 2020 2019 2018 Outstanding Options Shares Weighted-Average Exercise Price Shares Weighted-Average Exercise Price Shares Weighted-Average Exercise Price Outstanding at beginning of period 683 $ 27.15 623 $ 30.14 433 $ 33.37 Granted 180 17.37 242 19.35 246 21.49 Exercised (102) 21.24 (40) 11.47 (54) 16.48 Forfeited or Expired (273) 32.09 (142) 31.36 (2) 36.08 Outstanding at end of period 488 $ 22.03 683 $ 27.15 623 $ 30.14 Exercisable 179 $ 27.35 318 $ 33.01 254 $ 29.36 Unvested 309 $ 18.94 365 $ 22.04 369 $ 30.68 The total intrinsic value for options exercised during 2020 was $0.8 million and the associated tax benefit realized from stock options exercised was $0.2 million. The total intrinsic value for options exercised during 2019 was $0.4 million and the associated tax benefit realized from stock options exercised was $0.1 million. The total intrinsic value for options exercised during 2018 was $1.4 million and the associated tax benefit realized from stock options exercised was $0.3 million. The amount of cash received from the exercise of stock options was $2.5 million in 2020, $0.4 million in 2019, and $0.9 million in 2018. At December 31, 2020, the total unrecognized compensation cost related to non-vested stock option awards was approximately $1.9 million, with a weighted average expected amortization period of 2.5 years. At December 31, 2020, the intrinsic value of exercisable stock options was $1.3 million, and the intrinsic value of unvested stock options was $3.6 million. Time-Restricted Shares Restricted stock includes both performance-based and time-based share awards. The following is a summary of the Company’s unvested time-based restricted shares: For the Year Ended December 31, In thousands, except per share amounts 2020 2019 2018 Outstanding Time-Restricted Shares Shares Weighted-Average Grant-Date Fair Value Shares Weighted-Average Grant-Date Fair Value Shares Weighted-Average Grant-Date Fair Value Unvested at the beginning of the period 159 $ 24.33 114 $ 37.67 80 $ 48.65 Granted 84 17.92 98 20.99 73 26.52 Vested (37) 31.00 (23) 56.45 (31) 36.45 Forfeited or Expired (29) 23.09 (30) 39.58 (8) 50.56 Unvested at the end of the period 177 $ 20.11 159 $ 24.33 114 $ 37.67 At December 31, 2020, the total unrecognized compensation cost related to unvested time-restricted shares was approximately $2.1 million, with a weighted-average expected amortization period of 1.8 years. The intrinsic value of unvested time-restricted shares at December 31, 2020 was $5.3 million. Performance-Restricted Shares The fair values of each performance-restricted share award that contains a market condition were estimated on the date of grant using a Monte Carlo simulation with the following weighted-average assumptions: For the Year Ended December 31, 2020 2019 2018 Performance period 1/1/20-12/31/22 1/1/20-12/31/22 1/1/19 - 12/31/21 Compounded risk-free interest rate 0.9 % 1.5 % 2.7 % Lookback term 2.7 years 3.2 years 3.1 years Historical volatility 51 % 42 % 35 % Peer group S&P 600 Industrials Index S&P 600 Industrials Index S&P 600 Industrials Index Expected dividend yield — % — % — % These performance-restricted awards vest according to the Company's relative Total Shareholder Return ("rTSR") performance as compared to the peer group over the performance period, according to the following table, where rTSR is calculated as ending stock price less beginning stock price, plus reinvested dividends, divided by beginning stock price: Performance Level Percentile Ranking Vesting Percentage of Award Maximum 75th Percentile or Higher 150% Target 50th Percentile 100% Threshold 25th Percentile 50% Below Threshold Below the 25th Percentile —% The following is a summary of all of the Company’s unvested performance-restricted shares: For the Year Ended December 31, In thousands, except per share amounts 2020 2019 2018 Outstanding Performance-Restricted Shares Shares Weighted-Average Grant-Date Fair Value Shares Weighted-Average Grant-Date Fair Value Shares Weighted-Average Grant-Date Fair Value Unvested at the beginning of the period 129 $ 28.36 190 $ 36.63 139 $ 42.53 Granted 70 19.05 60 20.90 99 24.22 Vested — — — — (48) 27.96 Forfeited or Expired (57) 33.47 (121) 37.71 — — Unvested at the end of the period 142 $ 21.67 129 $ 28.36 190 $ 36.63 At December 31, 2020, the total unrecognized compensation cost related to unvested performance-restricted shares was approximately $1.6 million, with a weighted average expected amortization period of 2.1 years. The intrinsic value of unvested performance-restricted shares at December 31, 2020 was $4.0 million. Stock Repurchases During the year ended December 31, 2020, the Company acquired 11,329 shares of common stock valued at $0.3 million, through withholding, pursuant to provisions in agreements with recipients of restricted stock granted under the Company's equity compensation plans, which provide for the Company to withhold the number of shares having fair value equal to each recipient's tax withholding due.

RESTRUCTURING

RESTRUCTURING	12 Months Ended
	Dec. 31, 2020
Restructuring and Related Activities [Abstract]
RESTRUCTURING	RESTRUCTURING In the third quarter of 2020, the Company’s Performance Materials segment undertook actions to discontinue production of a lower efficiency air filtration media product and, in turn, fully depreciated the supporting machinery and equipment in North America and consolidated certain product lines and began exiting underperforming facilities in Europe. These restructuring activities, which are projected to conclude in 2021, are expected to reduce operating costs, increase production efficiency, and enhance the Company’s flexibility by better aligning its manufacturing operations with the segment's customer base. Accordingly, the Company expects to record total pre-tax expenses of approximately $19.0 million to $21.0 million, primarily related to severance and employee retention expenses, in connection with these restructuring activities, of which approximately $13.2 million to $15.2 million are expected to result in cash expenditures. The Company incurred a total of $15.9 million as of December 31, 2020, of which $5.8 million were non-cash expenditures, which consisted of fully depreciating and/or amortizing long-lived assets and, to a lesser extent, writing-off inventory. In North America, the Company permanently shut down two underperforming nonwoven manufacturing carded lines and ancillary equipment, originally acquired in 2018, that served commercial and residential HVAC markets with low to medium efficiency air filtration media. The Company experienced lower demand as a result of the COVID-19 pandemic, which accelerated a market shift from lower efficiency air filtration media to higher performance rated air filtration media. As a result, the Company recorded a pre-tax restructuring charge of $5.4 million, primarily due to accelerated depreciation of property, plant and equipment and other intangible assets. The Company does not anticipate incurring additional restructuring expenses related to the closure of these manufacturing carded lines. The Company also undertook actions to consolidate global production facilities for sealing and advanced solutions products from five facilities to four, resulting in the closure of an underperforming facility in Germany. In the three-month period ended March 31, 2020, the Company performed an impairment analysis of the long-lived assets and determined that the carrying value of the assets exceeded their fair value and recorded an impairment charge of $12.4 million. See Note 6, “Goodwill and Other Intangible Assets” in these Notes to the Consolidated Financial Statements for additional information. The closure is expected to be completed in 2021. In addition, the Company decided to close a small volume membrane filtration production facility in the Netherlands. In the three-month period ended December 31, 2019, the Company performed an impairment analysis of long-lived assets for this facility and recorded an impairment charge of $1.2 million. The assets have been fully depreciated through December 31, 2020. The closure is expected to be completed in 2021. As a result of the two facility closures in Europe, the Company recorded pre-tax restructuring charges of $10.5 million in 2020 consisting of severance costs, legal expenses, and inventory write-offs and anticipates it could incur an additional $3.1 million to $5.1 million in restructuring expenses, primarily related to severance costs from these facility closures. In April 2017, the Company commenced a restructuring plan in the Technical Nonwovens segment which included plant consolidations and transfer of equipment to other facilities within the segment's Europe and China operations. The consolidation of certain plants, which concluded in the fourth quarter of 2019, reduced operating costs, increased efficiency and enhanced the Company’s flexibility by better aligning its manufacturing footprint with the segment's customer base. The Company recorded expenses of $3.7 million in connection with this restructuring plan, of which approximately $3.3 million resulted in cash expenditures over the period of consolidation. The Company also incurred cash expenditures of approximately $3.8 million for capital expenditures associated with this plan. During the year ended December 31, 2019, the Company recorded pre-tax restructuring expenses of $0.8 million as part of this restructuring plan. Restructuring expenses of $0.6 million were recorded in cost of sales and $0.2 million were recorded in selling, product development and administrative expenses. During the year ended December 31, 2018, the Company recorded pre-tax restructuring expenses of $2.3 million as part of this restructuring plan. Restructuring expenses of $1.9 million were recorded in cost of sales and $0.4 million were recorded in selling, product development and administrative expenses. The following table summarizes the total restructuring charges by cost type: In thousands Severance and Related Expenses Facility Exit and Asset Write-Off Expenses Total Expenses incurred during year ended: December 31, 2018 $ 606 $ 1,691 $ 2,297 December 31, 2019 145 622 767 December 31, 2020 10,097 5,806 15,903 Total expenses $ 10,848 $ 8,119 $ 18,967 For the year ended December 31, 2020, $15.9 million was included in restructuring expenses on the Company’s Consolidated Statements of Operations with $15.5 million recorded in the Performance Materials segment and $0.4 million recorded within Corporate Office expenses. For the years ended December 31, 2019 and 2018, $0.8 million and $2.3 million, respectively, was included in restructuring expenses on the Company’s Consolidated Statements of Operations, all within the Technical Nonwovens segment. There were cash outflows of $1.2 million and $0.8 million for the restructuring programs for the years ended December 31, 2020 and 2019, respectively. The following table summarizes the accrued liability balance by cost type for the restructuring actions: In thousands Total December 31, 2018 $ 147 Pre-tax restructuring expenses, excluding depreciation 767 Cash paid (806) December 31, 2019 $ 108 Pre-tax restructuring expenses, excluding depreciation 10,097 Cash paid (1,193) Currency translation adjustments 419 December 31, 2020 $ 9,431 The above accrued liability balance was included in Restructuring liabilities on the Company’s Consolidated Balance Sheets.

SEGMENT INFORMATION

SEGMENT INFORMATION	12 Months Ended
	Dec. 31, 2020
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION The Company is organized based on the nature of its products and is composed of three reportable segments each overseen by a segment manager. These segments are reflective of how the Company's Chief Executive Officer, who is its Chief Operating Decision Maker ("CODM"), reviews operating results for the purpose of allocating resources and assessing performance. The Company has not aggregated operating segments for purposes of identifying reportable segments. As of December 31, 2020, the operating segments were Performance Materials, Technical Nonwovens, and Thermal Acoustical Solutions. Performance Materials Segment The Performance Materials segment is a worldwide leader in delivering innovative specialty filtration, sealing and advanced materials solutions for demanding applications. Specifically, the segment’s offerings include: (1) specialty filtration media solutions for a variety of applications in the global air and liquid filtration market such as personal protective equipment (“PPE”), indoor air quality, life sciences, transportation, and industrial applications; (2) gasket materials and parts for a broad range of applications in the global sealing market for parts in large/heavy duty equipment for commercial, industrial, agriculture, and construction end markets; and, (3) advanced materials that include highly engineered insulation solutions for cryogenic storage of liquid hydrogen/nitrogen, energy storage, and advanced composite materials for aerospace and defense applications. Technical Nonwovens Segment The Technical Nonwovens segment is a global leader in engineered nonwoven materials for industrial filtration applications and advanced materials products. The primary industrial filtration markets include air pollution and emissions control, power generation, and liquid filtration solutions. Advanced materials products include geotextile felts for separation, reinforcement, filtration, drainage, and protection; thermal and acoustic insulation for transportation and automotive applications, and highly customized and technical solutions for acoustic media, medical, building & construction, and safety apparel. Specifically, the segment’s offerings include needle punched nonwoven and highly engineered felts made from a variety of synthetic fibers. Automotive media is provided to Tier 1 and Tier 2 suppliers as well as the Company's Thermal Acoustical Solutions segment. Thermal Acoustical Solutions Segment The Thermal Acoustical Solutions segment designs, manufactures, and distributes a full range of innovative engineered products tailored for the transportation and industrial sectors. These products shield sensitive components from high temperature environments, assist in the reduction of harmful emissions and reduce noise and vibration. Within the transportation sector, the Company's products are found in the interior, underbody, and underhood of cars, trucks, SUVs, heavy duty trucks, and recreational vehicles. See the "Business" section in Part I, Item I of this Annual Report on Form 10-K for additional information regarding the Company's strategy and a more detailed description of the Company's segments. SEGMENT RESULTS Net sales by business segment is as follows: Net Sales For the Year Ended December 31, In thousands 2020 2019 2018 Performance Materials Segment (1),(3) : Filtration Products $ 119,969 $ 93,314 $ 93,089 Sealing and Advanced Solutions Products 144,676 152,166 76,128 Performance Materials Segment net sales 264,645 245,480 169,217 Technical Nonwovens Segment (2) : Industrial Filtration Products 119,367 144,320 157,606 Advanced Materials Products (3) 102,973 111,026 119,465 Technical Nonwovens Segment net sales 222,340 255,346 277,071 Thermal Acoustical Solutions Segment: Parts 272,414 326,436 328,057 Tooling 22,393 35,141 37,370 Thermal Acoustical Solutions Segment net sales 294,807 361,577 365,427 Eliminations and Other (3) (17,751) (25,005) (25,818) Consolidated Net Sales $ 764,041 $ 837,398 $ 785,897 Operating (loss) income by business segment is as follows: Operating (Loss) Income For the Year Ended December 31, In thousands 2020 2019 (8) 2018 Performance Materials Segment (1),(4) $ (46,044) $ (59,804) $ 13,139 Technical Nonwovens Segment (2),(5) 18,599 22,895 21,323 Thermal Acoustical Solutions Segment (6) (871) 23,590 38,085 Corporate Office Expenses (7) (33,749) (25,506) (23,359) Consolidated Operating (Loss) Income $ (62,065) $ (38,825) $ 49,188 Total assets by business segment is as follows: Total Assets At December 31, In thousands 2020 2019 2018 Performance Materials Segment (1),(4) $ 265,107 $ 325,164 $ 414,211 Technical Nonwovens Segment (2) 245,094 242,787 242,007 Thermal Acoustical Solutions Segment 215,562 199,218 201,509 Corporate Office 49,699 18,768 14,959 Total Assets $ 775,462 $ 785,937 $ 872,686 Capital expenditures and depreciation and amortization by business segment are as follows: Capital Expenditures (11) Depreciation and Amortization (10) In thousands 2020 2019 2018 2020 2019 2018 Performance Materials Segment (1) $ 19,185 $ 8,914 $ 11,288 $ 29,110 $ 25,118 $ 9,006 Technical Nonwovens Segment (2) 5,651 9,345 5,864 11,460 12,702 13,877 Thermal Acoustical Solutions Segment 7,553 17,858 11,934 12,704 10,168 9,190 Corporate Office 979 316 544 683 635 658 Total $ 33,368 $ 36,433 $ 29,630 $ 53,957 $ 48,623 $ 32,731 Net sales and long-lived assets by geographical region is as follows: Net Sales Long-Lived Assets In thousands 2020 2019 2018 2020 2019 (9) 2018 United States (1),(4) $ 420,129 $ 478,720 $ 422,222 $ 131,992 $ 138,265 $ 136,448 France (1) 79,343 75,313 66,579 22,289 13,723 13,219 Germany (1),(4) 112,466 124,402 125,796 33,827 44,116 25,873 United Kingdom 22,144 26,556 27,156 5,598 5,981 4,844 Canada (2) 74,347 76,535 87,622 31,293 29,667 25,614 China (1) 48,586 54,036 54,198 16,597 17,888 11,958 Other (1),(4) 7,026 1,836 2,324 1,758 3,211 4,085 Total $ 764,041 $ 837,398 $ 785,897 $ 243,354 $ 252,851 $ 222,041 (1) The Performance Materials segment includes the financial results of Interface Performance Materials and Precision Custom Coatings for the periods since the dates of the respective acquisitions of August 31, 2018 and July 12, 2018, respectively. (2) The Technical Nonwovens segment includes results of Texel Geosol, Inc. ("Geosol") through the date of disposition of May 9, 2019. (3) Included in the Performance Materials Segment, Technical Nonwovens Segment and Eliminations and Other are the following: • Technical Nonwovens segment intercompany-sales of $14.5 million, $21.0 million, and $22.2 million to the Thermal Acoustical Solutions segment for the years ended December 31, 2020, 2019, and 2018, respectively. • Performance Materials segment intercompany sales of $3.3 million, $4.0 million, and $3.5 million to the Thermal Acoustical Solutions segment for the years ended December 31, 2020, 2019, and 2018, respectively. (4) Included in the operating results within the Performance Materials segment are the following: • $61.1 million and $64.2 million of impairment charges related to goodwill and other long-lived assets for the years ended December 31, 2020 and 2019, respectively. • $15.5 million of restructuring charges for the year ended December 31, 2020. • $15.8 million, $16.2 million, and $3.5 million of intangible assets amortization for the years ended December 31, 2020, 2019 and 2018, respectively. • $2.0 million of purchase accounting adjustment related to inventory step-up for the year ended December 31, 2018. (5) Included in the operating results within the Technical Nonwovens segment are the following: • $4.8 million, $5.1 million, and $5.6 million of intangible assets amortization for the years ended December 31, 2020, 2019 and 2018, respectively. • $0.8 million and $2.3 million of restructuring expenses for the years ended December 31, 2019 and 2018, respectively. (6) Included in the operating results within the Thermal Acoustical Solutions segment is $0.5 million of severance costs for the year ended December 31, 2020. (7) Included in the operating results within Corporate Office Expenses are the following: • $2.3 million in CEO transition expenses for the year ended December 31, 2019. • $3.1 million, $1.5 million, and $3.6 million in corporate strategic initiatives predominantly within Corporate Office Expenses for the years ended December 31, 2020, 2019 and 2018, respectively. • $0.4 million of restructuring charges for the year ended December 31, 2020. (8) Included in the operating results across all segments is a total of $1.9 million of reduction-in-force severance expenses for the year ended December 31, 2019. (9) Effective January 1, 2019, the Company adopted ASU 2016-02, "Leases (Topic 842)", requiring the Company to recognize right-of-use assets totaling $23.1 million at December 31, 2019. (10) Depreciation and Amortization excludes the amortization of debt issuance costs in connection with the Amended Credit Agreement. Total amortization expense for the years ended December 31, 2020, 2019, and 2018, was $1.0 million, $0.3 million, and $0.2 million, respectively. See Note 7, “Long-term Debt and Financing Arrangements” in these Notes to the Consolidated Financial Statements for additional information. (11) Capital expenditures include the net change in non-cash activity included in accounts payable during the year ended December 31, 2020, 2019, and 2018 of $0.1 million, $(0.6) million and $1.7 million, respectively.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The provision for income taxes consists of the following: For the Year Ended December 31, In thousands 2020 2019 2018 Current: Federal $ (6,551) $ 3,505 $ 3,739 State 49 381 498 Foreign 4,124 4,479 3,788 Total current $ (2,378) $ 8,365 $ 8,025 Deferred: Federal $ (3,622) $ (12,481) $ 2,646 State (1,719) (1,442) 380 Foreign 886 (858) (2,598) Total deferred (4,455) (14,781) 428 Provision (Benefit) for income taxes $ (6,833) $ (6,416) $ 8,453 The following is a reconciliation of the difference between the actual provision for income taxes and the provision computed by applying the federal statutory tax rate on earnings: For the Year Ended December 31, 2020 2019 2018 Statutory federal income tax rate 21.0 % 21.0 % 21.0 % State income taxes, net of federal benefit 0.9 2.7 1.6 Valuation allowances for deferred tax assets, including state (3.7) (4.4) (1.3) Research and development credits 0.3 0.7 (1.3) Capitalized transaction costs — — 0.6 Stock based compensation (0.8) (0.1) (0.7) Goodwill Impairment (12.3) (19.6) — Foreign income taxed at lower rates — 2.4 (1.6) Reserves for uncertain tax positions 2.3 0.3 — Repatriation of foreign undistributed earnings — — 1.6 CARES Act carryback benefit 1.4 — — Pension plan settlement — 5.9 — Other (0.6) (0.6) (0.4) Effective income tax rate 8.5 % 8.3 % 19.5 % On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act ("CARES Act") was signed into law. The legislation had sweeping effects including various types of economic relief for impacted businesses and industries. One such relief provision was a five-year carryback for net operating losses arising in 2020. The Company will utilize the carryback provision and carryback losses generated in 2020 to the 2015 tax year. Income generated in 2015 was taxed at 35%, resulting in an immediate permanent benefit to the effective tax rate. In 2020, the Company had a pre-tax loss primarily resulting from goodwill and other long-lived asset impairment charges of $61.1 million. The impairment significantly impacted the Company's effective tax rate because goodwill impairment expense is not deductible for income tax purposes, resulting in a low effective tax rate in 2020 when in a pre-tax loss position. Additionally, the effective rate was negatively impacted by valuation allowance activity of $3.0 million. The negative impacts were offset by tax benefits of $1.8 million related to statutes expiring on uncertain tax position reserves and $1.1 million related to net operating loss carrybacks in the U.S. that were realized through the passage of the CARES Act. In 2019, the Company had a pre-tax loss primarily resulting from a goodwill impairment charge of $63.0 million, recorded in the fourth quarter of 2019. The impairment significantly impacted the Company's effective tax rate because goodwill impairment expense is not deductible for income taxes purposes, resulting in a low effective tax rate in 2019 when in a pre-tax loss position. Partially offsetting the impairment was a tax benefit of $4.5 million recorded in the second quarter of 2019 related to the reclassification of stranded tax effects from accumulated other comprehensive income. Also, the Company's effective tax rate in 2019 was negatively impacted by losses in jurisdictions in which no tax benefit can be recognized. In 2018, the effective tax rate of 19.5% was below the federal statutory rate and included valuation allowance activity of $0.6 million. This was primarily a result of the fourth quarter partial release of valuation allowance on the Netherlands net operating losses offset by a valuation allowance addition in Germany. The Company maintains valuation allowances against certain deferred tax assets where realization is not reasonably assured. The Company evaluates the likelihood of the realization of deferred tax assets and reduces the carrying amount to the extent it believes a portion will not be realized. The Company’s effective tax rates in future periods could be affected by increases or decreases in anticipated earnings in countries where tax rates differ from the United States federal rate, the relative impact of permanent tax adjustments on higher or lower earnings from domestic operations, changes in net deferred tax asset valuation allowances, completion of acquisitions or divestitures, changes in tax rates or tax laws, and the outcome of tax audits. The following schedule presents net current and net long-term deferred tax assets and liabilities by tax jurisdiction as of December 31, 2020 and 2019: Deferred tax assets: At December 31, In thousands 2020 2019 Foreign $ 1,260 $ 1,933 Totals $ 1,260 $ 1,933 Deferred tax liabilities: At December 31, In thousands 2020 2019 Federal $ 21,464 $ 26,992 State 1,027 2,902 Foreign 4,683 4,667 Totals $ 27,174 $ 34,561 Net deferred tax assets (liabilities) consisted of the following: At December 31, In thousands 2020 2019 Deferred tax assets: Accounts receivable $ 438 $ 377 Financial Hedging Instruments 2,774 1,491 Interest Expense Carryovers — 2,371 Inventories 1,952 1,845 Net operating loss carryforwards 13,553 8,478 Operating lease 5,797 6,001 Other accrued liabilities 4,270 5,905 Pension 5,125 4,274 Tax Credits 1,498 2,015 Total deferred tax assets 35,407 32,757 Deferred tax liabilities: Intangible assets 17,694 21,990 Right of use assets 5,797 6,001 Property, plant and equipment 24,844 28,177 Total deferred tax liabilities 48,335 56,168 Valuation allowance 12,986 9,217 Net deferred tax liabilities $ (25,914) $ (32,628) For the years ended December 31, 2020, 2019, and 2018, (loss) income before income taxes was derived from the following sources: For the Year Ended December 31, In thousands 2020 2019 2018 United States $ (68,895) $ (73,539) $ 33,928 Foreign (11,700) (3,538) 9,337 Total (loss) income before income taxes $ (80,595) $ (77,077) $ 43,265 At December 31, 2020, the Company had approximately $4.0 million of state net operating loss carryforwards which expire between 2027 and 2036 for which a full valuation allowance has been recorded. In addition, at December 31, 2020, the Company had $1.7 million of state tax credit carryforwards that expire between 2021 and 2030. As of December 31, 2020, the Company has recorded a valuation allowance against the full amount of its state tax credit carryforwards. The Company also has $7.3 million of foreign net operating loss carryforwards in China, $23.7 million of net operating loss carryforwards in Germany, $0.9 million of net operating loss carryforwards in the Netherlands, $0.3 million of net operating loss carryforwards in France, and $2.0 million of net operating loss carryforwards in India. The Netherlands’ net operating losses expire between the years 2023 and 2025, the China net operating losses expire between the years 2021 and 2024, and the India net operating losses expire between the years 2027 and 2028. A valuation allowance is recorded against the net operating losses in Germany, China, the Netherlands, and India for the portion of its net operating losses that future realization is not reasonably assured. The Company evaluates and weighs the positive and negative evidence present at each period. The Company will continue to monitor the realization criteria based on future operating results. As of December 31, 2020, the Company maintains its intention to distribute certain earnings of its foreign subsidiaries that have been previously taxed in the U.S. and has recorded taxes associated with this position. For the remainder of the undistributed foreign earnings, unless it is tax efficient to repatriate, the Company will continue to permanently reinvest these earnings. As of December 31, 2020, such undistributed earnings were approximately $3.7 million. The Company estimates that the amount of tax that would be payable on the undistributed earnings if repatriated to the United States could be up to $0.5 million. This amount may vary in the future due to a variety of factors including future tax law changes, future earnings and statutory taxes paid by foreign subsidiaries, and ongoing tax planning strategies by the Company. 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 U.S., China, France, Germany, Hong Kong, The Netherlands, Canada, India and the U.K. Within the next fiscal year, the Company expects to conclude certain income tax matters through the year ended December 31, 2017 and it is reasonably expected that net unrecognized benefits of $0.1 million may be recognized. The total amount of unrecognized tax benefits that would affect the effective tax rate if recognized is $1.7 million as of December 31, 2020. However, $0.2 million of the unrecognized tax benefits, if recognized, would be offset in pre-tax income by the reversal of indemnification assets due to the Company. The Company is no longer subject to U.S. federal examinations for years before 2017, state and local examinations for years before 2016, and non-U.S. income tax examinations for years before 2013. A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: At December 31, In thousands 2020 2019 Unrecognized tax benefits at beginning of year $ 3,212 $ 3,563 Decreases relating to positions taken in prior periods (31) (36) Decreases due to lapse of statute of limitations (1,463) (315) Unrecognized tax benefits at end of year $ 1,718 $ 3,212 The Company recognizes the interest accrued and the penalties related to unrecognized tax benefits as a component of tax expense. The Company accrued interest and penalties of $0.1 million and $0.2 million as of December 31, 2020 and 2019, respectively.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES The Company is subject to legal proceedings, claims, investigations, and inquiries that arise in the ordinary course of business such as, but not limited to, actions with respect to commercial, intellectual property, employment, personal injury, and environmental matters. While the outcome of any matter is inherently uncertain and the Company cannot be sure that it will prevail in any of the cases, subject to the matters referenced below, the Company is not aware of any matters pending that are expected to be material with respect to the Company’s business, financial position, 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 limited to, the stage of investigation, the stage of the remedial design, evaluation of existing remediation technologies, and presently enacted laws and regulations. In future periods, a number of factors could significantly impact any estimates of environmental remediation costs. ENVIRONMENTAL MATTERS Rochester, New Hampshire In the fourth quarter of 2016, as part of a groundwater discharging permitting process, water samples collected from wells and process water basins at the Company’s Rochester, New Hampshire manufacturing facility, within the Performance Materials segment, showed concentrations of Perfluorinated Compounds (“PFCs”) in excess of state ambient groundwater quality standards. In January 2017, the Company received a notification from the State of New Hampshire Department of Environmental Services (“NHDES”) naming Lydall Performance Materials, Inc. a responsible party with respect to the discharge of regulated contaminants and, as such, required the Company 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 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 freshwater waste lagoons. In the three-month period ended September 30, 2019, the Company reviewed interim remedial actions with the NHDES. 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. The site investigation is ongoing. At December 31, 2020, the Company had no amounts accrued for these environmental remediation activities. Although it is reasonably possible that additional costs will be paid in connection with the resolution of this matter, the Company is unable to estimate the amount of such additional costs, if any, at this time. Hoosick Falls, New York 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 perfluorinated compounds or per- and polyfluoroalkyl substances (“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 an accrued expense of $0.3 million in the three-month period ended December 31, 2019 as a result of the site characterization plan preparation and site characterization activities, which will continue into 2021. 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 action at this location would not have a material effect on the Company's financial condition, results of operations or cash flows. At December 31, 2020, the Company had no amounts accrued for these environmental remediation activities. Although it is reasonably possible that additional costs will be paid in connection with the resolution of this matter, the Company is unable to estimate the amount of such additional costs, if any, at this time. ASSET RETIREMENT OBLIGATIONS The Company accounts for asset retirement obligations by recognizing the fair value of the related liability for an asset retirement obligation in the period in which it is incurred, if a reasonable estimate of fair value can be determined. At December 31, 2020, the Company had combined asset retirement obligations of $0.8 million, which are associated with the estimated costs to remove/remediate asbestos materials from various locations. The initial measurement of the asset retirement obligations was recorded as a liability at its fair value, with an offsetting asset retirement cost recorded as an increase to the related property and equipment, which is being depreciated using a systematic and rational method similar to the approach used for the associated property and equipment. The Company also has an asset retirement obligation with an offset to goodwill as the estimated costs were derived

(LOSS) EARNINGS PER SHARE

(LOSS) EARNINGS PER SHARE	12 Months Ended
	Dec. 31, 2020
Earnings Per Share [Abstract]
(LOSS) EARNINGS PER SHARE	(LOSS) EARNINGS PER SHARE For the years ended December 31, 2020, 2019, and 2018, basic earnings per share were computed by dividing net (loss) income by the weighted average number of shares of common stock outstanding during the period. Unexercised stock options and unvested restricted shares are excluded from this calculation but are included in the diluted earnings per share calculation using the treasury stock method as long as their effect is not anti-dilutive. The following table provides a reconciliation of weighted-average shares used to determine basic and diluted earnings per share: For the Year Ended December 31, In thousands 2020 2019 2018 Basic average common shares outstanding 17,379 17,271 17,204 Effect of dilutive options and restricted stock awards — — 126 Diluted average common shares outstanding 17,379 17,271 17,330 Dilutive stock options totaling 42,716 and 54,828 shares of Common Stock were excluded from the diluted per share computations for the years ended December 31, 2020 and 2019, respectively as the Company reported net losses during those periods and, therefore, the effective of including these options would be anti-dilutive. For the years ended December 31, 2020, 2019, and 2018, stock options for 705,450, 573,920 and 455,515 shares of Common Stock, respectively, were not considered in computing diluted earnings per common share as the stock options were considered anti-dilutive.

CHANGES IN ACCUMULATED OTHER CO

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	12 Months Ended
	Dec. 31, 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 years ended December 31, 2020, 2019 and 2018: For the Year Ended December 31, In Thousands 2020 2019 2018 Foreign currency translation: Beginning balance $ (18,022) $ (18,458) $ (2,221) Net gain (loss) on foreign currency translation 14,508 436 (16,237) Other comprehensive income (loss), net of tax 14,508 436 (16,237) Ending balance (3,514) (18,022) (18,458) Pension and other postretirement benefit plans: Beginning balance (3,080) (22,253) (18,049) Changes in net actuarial loss (1) (2,854) (222) (4,998) Amounts reclassified from accumulated other comprehensive loss (2) 326 19,395 794 Other comprehensive (loss) income, net of tax (2,528) 19,173 (4,204) Ending balance (5,608) (3,080) (22,253) Unrealized loss on derivative instruments: Beginning balance (4,877) (1,974) 122 Net loss on derivative instruments (3) (6,114) (2,903) (2,096) Amounts reclassified from accumulated other comprehensive loss (4) 1,771 — — Other comprehensive loss, net of tax (4,343) (2,903) (2,096) Ending balance (9,220) (4,877) (1,974) Total accumulated other comprehensive loss $ (18,342) $ (25,979) $ (42,685) (1) Amounts represent the net actuarial losses arising from the Company's pension and postretirement benefit obligations, net of tax impact of $0.9 million in 2020, less than $0.1 million in 2019, and $1.5 million in 2018. See Note 12, "Employer Sponsored Benefit Plans" in these Notes to the Consolidated Financial Statements. (2) For the year ended December 31, 2020, amount represents the settlement of the ISS Pension Plan in the three-month period ended March 31, 2020 of $0.3 million, net of $0.1 million tax impact, and routine amortization of actuarial gains and losses in net periodic benefit cost and other activity of less than $0.1 million, net of less than $0.1 million tax impact. For the year ended December 31, 2019, amount represents the settlement of the Lydall Pension Plan in the second quarter of 2019 of $19.0 million, net of $11.5 million tax impact, and routine amortization of actuarial losses in net periodic benefit cost during the first five months of fiscal year 2019 prior to the plan termination of $0.4 million, net of $0.1 million tax impact. For the year ended December 31, 2018, amount represents routine amortization of actuarial losses in net periodic benefit cost of $0.8 million, net of $0.2 million tax impact. (3) Amounts represent unrealized losses on the fair value of hedging activities, net of tax impact of $1.8 million, $0.9 million and $0.6 million for the years ended December 31, 2020, 2019 and 2018, respectively. (4) Amount represents the impact of de-designation of the interest rate swap agreement, net of tax impact of $0.5 million for the year ended December 31, 2020.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2020
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTSThe Company has evaluated subsequent events through the issuance date of these financial statements. No material subsequent events were identified that require disclosure.

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Principles of consolidation	Principles of consolidation — The accompanying Consolidated Financial Statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. Certain amounts in prior year Consolidated Financial Statements and the accompanying Notes have been reclassed to conform to current year presentation.
Estimates and assumptions	Estimates and assumptions — The preparation of the Company’s Consolidated Financial Statements in conformity with accounting principles generally accepted in the U.S. (“U.S. GAAP”) requires management to make estimates and assumptions that affect the amounts reported in the Consolidated Financial Statements and accompanying Notes. Significant items subject to such estimates and assumptions include the carrying amount of property, plant and equipment; goodwill and other intangible assets; valuation allowances for receivables, inventories and income taxes; valuation of equity compensation; obligations related to employer sponsored benefit plans; and estimates for environmental and other contingent liabilities. Actual results could differ materially from those estimates.
Cash and cash equivalents	Cash and cash equivalents — Cash and cash equivalents include cash on hand and demand deposits.
Concentration of credit risk	Concentrations of credit risk — Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents, trade accounts receivable and contract assets. The Company deposits its cash and cash equivalents in high-quality financial institutions. As these deposits are generally redeemable upon demand and are held by high quality, reputable institutions, we consider them to bear minimal credit risk.
Contingencies and environmental obligations	Contingencies and environmental obligations — The Company makes judgments and estimates in accordance with U.S. GAAP when it establishes reserves for legal proceedings, claims, investigations, environmental obligations and other contingent matters. Provisions for such matters are charged against income when it is probable that a liability has been incurred and reasonable estimates of the liability can be made. Estimates of environmental liabilities are based on a variety of matters, including, but not limited to, the stage of investigation, the stage of the remedial design, evaluation of existing remediation technologies, and presently enacted laws and regulations. The amount and timing of all future expenses related to legal proceedings, claims, investigations, environmental obligations, and other contingent matters may vary significantly from estimates.
Cost of sales	Cost of sales — Cost of sales includes costs of products and services sold (i.e., purchased product, raw material, direct labor, engineering labor, outbound freight charges, warehousing costs, depreciation and amortization, indirect costs and overhead charges).
Derivative instruments	Derivative instruments — The Company is exposed to certain risks relating to its ongoing business operations, including market risks relating to fluctuations in foreign currency rates and interest rates. From time to time, the Company will enter into foreign currency derivative transactions and interest rate swap derivative instruments to manage such market risks. Derivative instruments are measured at fair value and recognized as either assets or liabilities on the Consolidated Balance Sheets depending upon maturity and commitment. Short-term assets are recognized in prepaid expenses and other current assets while long-term assets are recognized in other assets, net. Short-term liabilities are recognized in derivative liability or other accrued liabilities and long-term liabilities are recognized in other long-term liabilities. The changes in fair values of derivatives are recorded each period in earnings or accumulated other comprehensive income, depending on whether a derivative is effective as part of the hedged transaction. Gains and losses on derivative instruments reported in accumulated other comprehensive income are subsequently included in earnings in the periods in which earnings are affected by the hedged item. The 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. The Company does not engage in derivative instruments for speculative or trading purposes.
Earnings per share	Earnings per share — Basic earnings per common share are equal to net income divided by the weighted average number of common shares outstanding during the period. Diluted earnings per common share are equal to net income divided by the weighted average number of common shares outstanding during the period, including the effect of stock options and stock awards, if such effect is dilutive.
Employer sponsored benefit plans	Employer sponsored benefit plans — The Company accounts for its employer sponsored benefit pension plan by recognizing the overfunded or underfunded status of the plan, calculated as the difference between the plan assets and the projected benefit obligation, as an asset or liability on the Consolidated Balance Sheets, with changes in the funded status recognized in comprehensive income in the year in which they occur. Expenses and liabilities associated with the plan are determined based on actuarial valuations using key assumptions related to discount rates, mortality rates, and expected return on plan assets. Essential to the actuarial valuations, are a variety of assumptions including expected return on plan assets and discount rate. The Company
Equity compensation	Equity compensation — The Company records compensation expense for awards of equity instruments, which include incentive and non-qualified stock options and time and performance-restricted shares, under the fair value method of accounting based on the assessment of the grant date fair value of the awards. The Company recognizes expense on a straight-line basis over the vesting period for awards that have cliff vesting, and on a graded vesting basis for time-based restricted awards that have graded vesting. The amount of expense recognized is always at least equal to the fair value of the vested portion of the award. Forfeitures are recorded as they occur. The Company estimates the fair value of incentive and non-qualified options based on the Black-Scholes option-pricing model. Expected volatility and expected term are based on historical information, risk-free interest rate is based on U.S. Government bond rates, and dividend yield is based on historical trend and future plans. The calculation assumes that future volatility and expected term are not likely to materially differ from the Company’s historical stock price volatility and historical exercise data, respectively. The Company estimates the fair value of time-based restricted awards, and performance-restricted awards with performance conditions, based on the market value of the stock on the grant date. The Company estimates the fair value of performance-restricted awards containing a market condition using a Monte Carlo simulation model on the date of grant. As with options, expected volatility and expected term are based on historical information, risk-free interest rate is based on U.S. Government bond rates, and dividend yield is based on historical trend and future plans. The market condition for certain performance-restricted awards requires achievement of Total Shareholder Return (rTSR) targets relative to that of the S&P 600 Industrials Index over a three-year performance period. Compensation expense for performance-restricted awards with a performance target is also impacted by the probability of achieving the performance targets.
Goodwill and other intangible assets	Goodwill and other intangible assets — Goodwill represents the excess of the aggregate purchase price over the fair value of the net assets acquired in a purchase business combination. Goodwill and other intangible assets with indefinite lives are not amortized but are subject to annual impairment tests. Under Accounting Standards Codification ("ASC") 350, “Intangibles – Goodwill and Other,” (“ASC 350”), the Company has the option to first assess qualitative factors such as considering capital markets environment, economic conditions, industry trends, results of operations, and other factors. If the results of the qualitative test indicate a potential for impairment, a quantitative test is performed. The quantitative test compares the estimated fair value of each reporting unit to its carrying value. To determine the fair value of the reporting unit, the Company uses a combination of two approaches: the income approach and a market approach (also known as the Guideline Public Company method), both of which are weighted equally. Under the income approach, the Company calculates fair value by taking the cash flows that are based on internal projections and other assumptions deemed reasonable by management and discounts them using an estimated weighted average cost of capital. Under the market approach, fair value is estimated using published market multiples for comparable companies. If the carrying value exceeds the fair value under the quantitative approach, the Company will record an impairment charge for the excess of the carrying value over the respective fair value. In performing impairment tests, the Company considers discounted cash flows and other market factors as best evidence of fair value. There are inherent uncertainties and management judgment is required in these analyses.
Income taxes	Income taxes — The provision for income taxes is based upon income reported in the accompanying Consolidated Financial Statements. Deferred income taxes reflect the impact of temporary differences between the amounts of income and expense recognized for financial reporting purposes and such amounts recognized for tax purposes. In the event the Company was to determine that it would not be able to realize all or a portion of its deferred tax assets in the future, the Company would record a valuation allowance through a charge against income in the period that such determination was made. Conversely, if the Company was to determine that it would be able to realize its deferred tax assets in the future in excess of the net carrying amounts, the Company would decrease the recorded valuation allowance and record an increase to income in the period that such determination was made. The Company records a benefit for uncertain tax positions in the financial statements only when it determines it is more likely than not that such a position will be sustained upon examination by taxing authorities based on the technical merits of the position. Unrecognized tax benefits represent the difference between the position taken in the tax return and the benefit reflected in the financial statements.
Inventories	Inventories — Inventories are valued at lower of cost or net realizable value. Cost is generally determined using first-in, first-out (“FIFO”) or average cost methods of accounting. The Company’s inventory is composed of the following types of inventory: raw material, work in process and finished goods. Raw materials include certain general stock materials and purchased parts and components to be used in the manufacturing process. Work in process and finished goods are valued at production cost represented by raw material, labor, and indirect overhead. Inventory is periodically reviewed and impairment, if any, is recognized when the expected net realizable value is less than the carrying value. The Company also maintains inventory reserves for estimated excess and obsolete inventory.
Leases	Leases — The Company determines if an arrangement is a lease, or contains a lease, at the inception of the arrangement and evaluates whether the lease is an operating lease or a finance lease as of the commencement date. The Company recognizes right-of-use (“ROU”) assets and lease liabilities for operating and finance leases with terms greater than 12 months. ROU assets represent the Company’s right to use an asset for the lease term, while lease liabilities represent the obligation to make lease payments. Operating and finance lease ROU assets and lease liabilities are recognized based on the present value of lease payments over the lease term at the lease commencement date. The Company uses the implicit interest rate or, if not readily determinable, our incremental borrowing rate as of the lease commencement date to determine the present value of lease payments. The incremental borrowing rate is based on our borrowing rate over a similar period to the lease term. Operating and finance lease ROU assets are recognized net of any lease prepayments and incentives. Lease terms include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Operating lease expense is recognized on a straight-line basis over the lease term. Finance lease expense is recognized based on the effective-interest method over the lease term.
Pre-production design and development costs	Pre-production design and development costs — The Company enters into contractual agreements with certain customers to design and develop molds, dies, and tools (collectively, “tooling”). All such tooling contracts relate to parts that the Company will supply to customers under long-term supply agreements. Tooling costs are accumulated in work in process inventory and are charged to operations as the related revenue from the tooling is recognized. The Company’s revenue recognition policies require the Company to make significant judgments and estimates regarding timing of recognition based on timing of the transfer of control to the customer. The Company analyzes several factors, including but not limited to, the nature of the products being sold and the contractual terms and conditions in contracts with customers to help the Company make such judgments about revenue recognition. For tooling revenue recognized over time, the Company's significant judgments include, but are not limited to, estimated costs to completion, costs incurred to date, and assessments of risks related to changes in estimates of revenues and costs. The Company's management must make assumptions regarding the work required to fulfill the performance obligations, which is dependent upon the execution by the Company's subcontractors, among other variables and contract requirements. Periodically, the Company enters into contractually guaranteed reimbursement arrangements as a mechanism to collect amounts due from customers from tooling sales. Under these arrangements, amounts due from tooling sales are collected as parts are delivered over the part supply arrangement, in accordance with the specific terms of the arrangement. The amounts due from the customer in such transactions are recorded in “Prepaid expenses and other current assets” or “Other assets, net” based upon the expected term of the reimbursement arrangement.
Property, plant and equipment	Property, plant and equipment — Property, plant and equipment are recorded at cost. Depreciation is computed primarily on a straight-line basis over the estimated useful lives of the assets. The cost and accumulated depreciation amounts applicable to assets sold or otherwise disposed of are removed from the asset and accumulated depreciation accounts and any net gain or loss is credited to or charged against income. Expenses for maintenance and repairs are expensed as incurred. During 2020, the Company approved capital investments totaling approximately $38.0 million for the production of fine fiber meltblown filtration media used in N95 respirator and surgical and medical masks in its Performance Materials segment's Rochester, New Hampshire and Saint-Rivalain, France facilities. The Company entered into an agreement with the U.S. Government that provides $13.5 million in funding towards the Rochester, New Hampshire investment. The Company also entered into an agreement with the French Government that provides up to 30% of the Saint-Rivalain, France investment to be funded by a grant from the French Government. The funding provided by both the U.S. and French governments are accounted for as a reduction to property, plant and equipment.
Revenue recognition	Revenue recognition — Under ASC 606, "Revenue from Contracts with Customers", ("ASC 606"), the amount of revenue recognized for any goods or services reflects the consideration that the Company expects to be entitled to receive in exchange for those goods or services. To achieve this core principle, the Company applies the following five step approach: (1) identify the contract with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to performance obligations in the contract; and (5) recognize revenue when or as a performance obligation is satisfied. A contract is accounted for when there has been approval and commitment from both parties, the rights of the parties are identified, payment terms are identified, the contract has commercial substance, and collectability of consideration is probable. Performance obligations under a contract are identified based on the goods or services that will be transferred to the customer that are both capable of being distinct and are distinct in the context of the contract. The transaction price is determined based on the consideration that the Company will be entitled to in exchange for transferring goods or services to the customer. To the extent the transaction price includes variable consideration, the Company estimates the amount of variable consideration that should be included in the transaction price, generally utilizing the most likely amount method. Performance obligations are satisfied either over time or at a point in time as discussed in further detail below. In addition, the Company's contracts with customers generally do not include significant financing components or non-cash consideration. The Company's 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 certain judgments and estimates. 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. 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 depending on when control of the Company’s products transfers to its customers. 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’s standard sales and shipping terms are FOB shipping point and, therefore, most point in time revenue is recognized upon shipment. The Company, however, conducts business with certain customers on FOB destination terms and in these instances point in time revenue is recognized upon receipt by the customer. In circumstances when control transfers over time, revenue is recognized based on the extent of progress towards completion of the performance obligation. Changes in estimates for revenue recognized over time are recorded by the Company in the period they become known. Changes are recognized on a cumulative catch-up basis in net sales, costs of sales, and operating income. The cumulative catch up adjustment recognizes in the current period the cumulative effect of changes in estimates on current and prior periods. Due to the nature of the work required to be performed on many of the Company’s performance obligations, the process of estimating total revenue and cost at completion is complex, subject to many variables, and requires significant judgment. See Note 2, "Revenue from Contracts with Customers", in these Notes to the Consolidated Financial Statements for more information. Sales returns and allowances are recorded as identified or communicated by the customer and internally approved. The Company does not provide customers with general rights of return for products sold; however, in limited circumstances, the Company will allow sales returns and allowances from customers if the products sold do not conform to specifications.
Transfers of financial assets	Transfers of financial assets — The Company accounts for transfers of financial assets as sold when it has surrendered control over the related assets. Whether control has been relinquished requires, among other things, an evaluation of relevant legal considerations and an assessment of the nature and extent of the Company's continuing involvement with the assets transferred. Gains or losses and any expenditures stemming from the transfers are included in "Other (Income) Expense, net" in the Consolidated Statements of Operations. Assets obtained and liabilities incurred in connection with transfers reported as sold are initially recognized in the Consolidated Balance Sheets at fair value. Beginning in December 2019, the Company maintains 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 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 the sale to the bank 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, when the customer pays. Total trade accounts receivable balances sold under both arrangements were $77.4 million and $16.0 million during 2020 and 2019, respectively. Total cash received was $71.1 million and $14.9 million in 2020 and 2019, respectively. Total fees incurred were $0.4 million and $0.1 million in 2020 and 2019, respectively.
Translation of foreign currencies	Translation of foreign currencies — Assets and liabilities of foreign subsidiaries are translated at exchange rates prevailing as of the balance sheet date. Revenues and expenses are translated at average exchange rates prevailing during the period. Any resulting translation gains or losses are reported in other comprehensive income (loss).
Recently Accounting Standards	Recent Accounting Standards Recent Accounting Standards 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 accompanying 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. See Note 6, “Goodwill and Other Intangible Assets”, in these Notes to the Consolidated Financial Statements 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 a material impact on the Company’s Consolidated Financial Statements and accompanying 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 accompanying disclosures as of December 31, 2020. 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 opted to early-adopt the provisions of this ASU effective for the year ended December 31, 2020. The adoption of the standard did not have a material impact on the Company's Consolidated Financial Statements. See Note 12, "Employer Sponsored Benefit Plans" in these Notes to the Consolidated Financial Statements. Recent Accounting Standards Yet to be Adopted In October 2020, the FASB issued ASU 2020-10, "Codification Improvements." The amendments in this update are intended to clarify the location of certain disclosure guidance within the ASC, as well as clarify certain guidance in cases where the original guidance may have been unclear. These amendments do not change U.S. GAAP. This ASU is effective for fiscal years and interim periods beginning after December 15, 2020. The Company does not expect the adoption of this update to have a material impact on its Consolidated Financial Statements and accompanying disclosures. In August 2020, the FASB issued ASU 2020-06, "Debt-Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40)." The amendments in this update are intended to simplify the accounting for convertible debt instruments and convertible preferred stock. This ASU is effective for fiscal years and interim periods beginning after December 15, 2021 with early adoption permitted. The Company does not expect the adoption of this update to have any impact on its Consolidated Financial Statements and accompanying disclosures. 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 does not expect the adoption of this update to have a material impact on its Consolidated Financial Statements and accompanying 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 does not expect the adoption of this update to have a material impact on its Consolidated Financial statements and accompanying disclosures.

SIGNIFICANT ACCOUNTING POLICI_3

SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Schedule of Assets included in the Consolidated Balance Sheet	The following tooling related assets were included in the respective lines of the Consolidated Balance Sheets: At December 31, In thousands 2020 2019 Inventories $ 2,769 $ 1,777 Prepaid expenses and other current assets 711 530 Other assets, net 1,952 1,757 Total tooling related assets $ 5,432 $ 4,064

REVENUE FROM CONTRACTS WITH C_2

REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables)	12 Months Ended
	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Schedule of Contract Assets and Liabilities	Contract assets and liabilities consisted of the following: At December 31, In thousands 2020 2019 Dollar Change Contract assets $ 32,403 $ 28,245 $ 4,158 Contract liabilities $ 3,686 $ 1,441 $ 2,245
Schedule of Disaggregation of Revenue by Geographical Location	Disaggregated revenue by geographical region, based on the region in which the sales originated, for the years ended December 31, 2020, 2019, and 2018 were as follows: For the Year Ended December 31, 2020 In thousands North America Europe Asia Total Net Sales Performance Materials $ 181,741 $ 73,378 $ 9,526 $ 264,645 Technical Nonwovens 134,509 64,624 23,207 222,340 Thermal Acoustical Solutions 195,223 83,253 16,331 294,807 Eliminations and Other (16,998) (753) — (17,751) Consolidated Net Sales $ 494,475 $ 220,502 $ 49,064 $ 764,041 For the Year Ended December 31, 2019 In thousands North America Europe Asia Total Net Sales Performance Materials $ 176,094 $ 61,889 $ 7,497 $ 245,480 Technical Nonwovens 157,579 68,456 29,311 255,346 Thermal Acoustical Solutions 245,870 98,221 17,486 361,577 Eliminations and Other (24,287) (718) — (25,005) Consolidated Net Sales $ 555,256 $ 227,848 $ 54,294 $ 837,398 For the Year Ended December 31, 2018 In thousands North America Europe Asia Total Net Sales Performance Materials $ 117,313 $ 49,055 $ 2,849 $ 169,217 Technical Nonwovens 167,519 73,912 35,640 277,071 Thermal Acoustical Solutions 250,133 99,529 15,765 365,427 Eliminations and Other (25,121) (697) — (25,818) Consolidated Net Sales $ 509,844 $ 221,799 $ 54,254 $ 785,897

INVENTORIES (Tables)

INVENTORIES (Tables)	12 Months Ended
	Dec. 31, 2020
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories as of December 31, 2020 and 2019 were as follows: At December 31, In thousands 2020 2019 Raw materials $ 32,258 $ 36,322 Work in process 17,087 14,873 Finished goods 29,651 29,349 Total inventories $ 78,996 $ 80,544

PROPERTY, PLANT AND EQUIPMENT_2

PROPERTY, PLANT AND EQUIPMENT, NET (Tables)	12 Months Ended
	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment	Property, plant and equipment, net as of December 31, 2020 and 2019 were as follows: Estimated At December 31, In thousands 2020 2019 Land – $ 5,030 $ 6,268 Buildings and improvements 10-35 years 108,370 107,721 Machinery and equipment 5-25 years 337,792 308,457 Office equipment 2-8 years 33,574 36,905 Vehicles 3-6 years 1,557 1,516 Assets under finance leases: Land (1) – 240 225 Machinery and equipment 8 years — 200 Office equipment 5 years — 31 486,563 461,323 Accumulated depreciation (291,966) (265,586) Accumulated depreciation of finance leases (30) (143) 194,567 195,594 Construction in progress 19,946 26,048 Total property, plant and equipment, net $ 214,513 $ 221,642 (1) Land under a finance lease is amortized over the lease term.

GOODWILL AND OTHER INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)	12 Months Ended
	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Gross and Net Carrying Amounts of Goodwill	The following table sets forth the gross and carrying amounts of goodwill for each reportable segment and for the Company as of December 31, 2020 and 2019: In thousands Performance Materials Technical Nonwovens Thermal Acoustical Solutions Totals Gross balance at January 1, 2019 $ 143,658 $ 53,254 $ 12,160 $ 209,072 Accumulated impairment (63,000) — (12,160) (75,160) Net Balance at December 31, 2019 $ 80,658 $ 53,254 $ — $ 133,912 In thousands Performance Materials Technical Nonwovens Thermal Acoustical Solutions Totals Gross balance at January 1, 2020 $ 143,659 $ 55,607 $ 12,160 $ 211,426 Accumulated impairment (111,671) — (12,160) (123,831) Net Balance at December 31, 2020 $ 31,988 $ 55,607 $ — $ 87,595
Schedule of Changes in the Carrying Amounts of Goodwill	The following table sets forth the changes in the carrying amounts of goodwill for each reportable segment and for the Company as of December 31, 2020 and 2019: In thousands Performance Materials Technical Nonwovens Totals Balance at January 1, 2019 $ 144,626 $ 52,337 $ 196,963 Goodwill reduction (1) (662) — (662) Goodwill impairment (63,000) — (63,000) Currency translation adjustment (306) 917 611 Balance at December 31, 2019 80,658 53,254 133,912 Goodwill impairment (48,671) — (48,671) Currency translation adjustment 1 2,353 2,354 Balance at December 31, 2020 $ 31,988 $ 55,607 $ 87,595
Schedule of Impairment Charges	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
Schedule of Amortization of the Company's Acquired Intangible Assets other than Goodwill	Other intangible assets consisted of: At December 31, 2020 At December 31, 2019 In thousands Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Amortized intangible assets Customer relationships $ 143,479 $ (50,076) $ 142,400 $ (30,648) Patents 650 (616) 759 (607) Technology 2,500 (1,144) 2,500 (977) Trade names 7,495 (7,167) 7,293 (5,143) License agreements 185 (185) 610 (610) Other 467 (467) 551 (551) Total other intangible assets $ 154,776 $ (59,655) $ 154,113 $ (38,536)

LONG-TERM DEBT AND FINANCING _2

LONG-TERM DEBT AND FINANCING ARRANGEMENTS (Tables)	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Schedule of Total Outstanding Debt	Total outstanding debt consists of: At December 31, In thousands Effective Rate Maturity 2020 2019 Revolver loan 4.25% 8/31/2023 $ 134,500 $ 126,500 Term loan, net of debt issuance costs 4.25% 8/31/2023 135,938 146,106 Finance leases 1.65% 10/31/2020 — 35 Total 270,438 272,641 Less portion due within one year (9,789) (9,928) Total long-term debt, net of debt issuance costs $ 260,649 $ 262,713

DERIVATIVES (Tables)

DERIVATIVES (Tables)	12 Months Ended
	Dec. 31, 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 and presented in the Consolidated Balance Sheet as Derivative liabilities: At December 31, 2020 At December 31, 2019 In thousands Asset Derivatives Liability Derivatives Asset Derivatives Liability Derivatives Derivatives designated as hedging instruments: Interest rate contracts $ — $ 5,063 $ 2 $ 4,538 Cross-currency swaps — 6,933 — 1,817 Total derivatives $ — $ 11,996 $ 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 and presented in the Consolidated Balance Sheet as Derivative liabilities: At December 31, 2020 At December 31, 2019 In thousands Asset Derivatives Liability Derivatives Asset Derivatives Liability Derivatives Derivatives designated as hedging instruments: Interest rate contracts $ — $ 5,063 $ 2 $ 4,538 Cross-currency swaps — 6,933 — 1,817 Total derivatives $ — $ 11,996 $ 2 $ 6,355
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)	The following table sets forth the income (loss), recorded in accumulated other comprehensive loss, net of tax, for the years ended December 31, 2020 and 2019 for derivatives held by the Company and designated as hedging instruments: For the Year Ended In thousands 2020 2019 Cash flow hedges: Interest rate contracts $ (391) $ (1,500) Cross-currency swaps (3,952) (1,403) Total derivatives $ (4,343) $ (2,903)

FAIR VALUE MEASURES (Tables)

FAIR VALUE MEASURES (Tables)	12 Months Ended
	Dec. 31, 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: At December 31, 2020 At December 31, 2019 In thousands Carrying Value Fair Value Carrying Value Fair Value Debt $ 271,000 $ 272,792 $ 273,000 $ 269,434

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Dec. 31, 2020
Leases [Abstract]
Schedule of Components of Lease Expense	The components of lease expense are as follows: For the Year Ended December 31, In thousands 2020 2019 Finance lease expense: Amortization of right-of-use assets $ 42 $ 81 Interest on lease liabilities — 2 Operating lease expense 6,005 6,510 Short-term lease expense 1,571 918 Variable lease expense 678 199 Total lease expense $ 8,296 $ 7,710
Schedule of Supplemental Balance Sheet Information Related to Leases	Supplemental balance sheet information related to leases are as follows: At December 31, In thousands, except lease term 2020 2019 Operating leases: Operating lease right-of-use assets $ 22,243 $ 23,116 Short-term lease liabilities, included in Other accrued liabilities $ 4,466 $ 4,789 Long-term lease liabilities 17,947 18,424 Total operating lease liabilities $ 22,413 $ 23,213 Finance leases: Property, plant and equipment $ 240 $ 456 Accumulated depreciation (30) (143) Property, plant and equipment, net $ 210 $ 313 Short-term lease liabilities, included in debt $ — $ 35 Total finance lease liabilities $ — $ 35 Weighted average remaining lease term (in years): Operating leases 6.3 7.1 Finance leases 28.7 20.4
Schedule of Supplemental Cash Flow Information Related to Leases	Supplemental cash flow information related to leases are as follows: For the Year Ended December 31, In thousands 2020 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 6,011 $ 6,301 Operating cash flows from finance leases — 2 Financing cash flows from finance leases 34 240 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 2,779 $ 1,743 Finance leases — —
Schedule of Maturities of Operating Lease Liabilities	As of December 31, 2020, future lease payment maturities were as follows (note that there are no future lease payments associated with the Company's single finance lease as of December 31, 2020 as the lease was prepaid in full when the contract was executed): In thousands For the Year Ended December 31, Operating Leases 2021 $ 5,293 2022 4,501 2023 3,398 2024 2,465 2025 2,280 Thereafter 8,318 Total lease payments 26,255 Less imputed interest (3,842) Total discounted future lease payments $ 22,413

EMPLOYER SPONSORED BENEFIT PL_2

EMPLOYER SPONSORED BENEFIT PLANS (Tables)	12 Months Ended
	Dec. 31, 2020
Retirement Benefits [Abstract]
Schedule of Net Funded Status	The plan assets and benefit obligations for the period ended December 31, 2020 were composed of the IPM Pension Plan and the plan assets and benefit obligations for the period ended December 31, 2019 were composed of the IPM Pension Plan, the former U.S. Lydall Pension Plan and the former ISS Pension Plan as follows: For the Year Ended December 31, In thousands 2020 2019 Change in benefit obligation: Net benefit obligation at beginning of year $ 55,101 $ 102,679 Service cost 134 136 Interest cost 1,706 2,132 Actuarial loss (1) 7,257 5,149 Gross benefits paid (2,835) (2,932) Net effect of remeasurement — (3,290) Settlement (2,920) (48,773) Net benefit obligation at end of year $ 58,443 $ 55,101 Change in plan assets: Fair value of plan assets at beginning of year $ 43,938 $ 87,452 Actual return/(loss) on plan assets 6,430 6,987 Contributions 1,949 1,415 Gross benefits paid (2,835) (2,932) Net effect of remeasurement — (211) Settlement (2,920) (48,773) Fair value of plan assets at end of year $ 46,562 $ 43,938
Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets	Aggregated information for the domestic defined benefit pension plans with an accumulated benefit obligation in excess of plan assets is provided in the tables below. The domestic defined benefit plans were approximately 80% funded at December 31, 2020 and 2019. For the Year Ended December 31, In thousands 2020 2019 Funded Status Fair value of plan assets $ 46,562 $ 43,938 Accumulated Benefit obligations 58,443 55,101 Funded status of plans $ (11,881) $ (11,163) In addition to the amounts disclosed in the tables above for the Company’s domestic defined benefit pension plans, the Company had both foreign pension plans, and post-retirement benefit plans with life insurance and medical benefits for certain domestic and foreign employees. The accrued benefit liabilities and amounts recognized in other comprehensive income for these other plans are as follows: For the Year Ended December 31, In thousands 2020 2019 Foreign Plans: Net benefit obligation in excess of plan assets $ 5,981 $ 5,274 Loss recognized in accumulated other comprehensive loss, net of tax $ 940 $ 861 Domestic Post-retirement Plans Net benefit obligation in excess of plan assets $ 4,215 $ 3,621 Loss (gain) recognized in accumulated other comprehensive loss, net of tax $ 165 $ (360)
Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss)	The Company has recorded liabilities and amounts recognized in accumulated other comprehensive income related to the domestic defined benefit pension plans as follows: For the Year Ended December 31, In thousands 2020 2019 Amounts recognized in the Consolidated Balance Sheets consist of: Current liabilities $ — $ 787 Noncurrent liabilities 11,881 10,376 Total liabilities $ 11,881 $ 11,163 Loss recognized in Accumulated Other Comprehensive Loss, net of tax, consist of: Net actuarial loss $ 4,503 $ 2,579
Schedule of Components of Net Periodic Benefit Cost for Domestic Pension Plan	The components of net periodic benefit cost for the domestic defined benefit pension plans is as follows: For the Year Ended December 31, In thousands 2020 2019 2018 Service cost $ 134 $ 136 $ 46 Interest cost 1,706 2,886 2,595 Expected return on plan assets (2,119) (2,601) (3,339) Amortization of actuarial net loss 2 464 1,024 Total net periodic (benefit) cost $ (277) $ 885 $ 326 Settlement loss 385 25,247 — Total employer pension plan cost $ 108 $ 26,132 $ 326
Schedule of Net Periodic Benefit Cost Not yet Recognized	The major assumptions used in determining the year-end benefit obligation and annual net cost for the domestic defined benefit pension plans are presented in the following table: Benefit Obligation Net Cost For the Year Ended December 31, 2020 2019 2020 2019 2018 Discount rate 2.14 % 3.37 % 3.39 % 3.88 % 3.75 % Expected return on plan assets 5.20 % 5.06 % 5.20 % 4.65 % 5.79 %
Schedule of Allocation of Plan Assets	The following table presents the target allocation of the IPM Pension Plan assets for 2021 and the actual allocation of all domestic defined benefit pension plan assets as of December 31, 2020 and 2019 by major asset category: Target Allocation Actual Allocation of Plan Assets Asset Category 2021 2020 2019 Domestic equities 20% - 40% 32 % 38 % International equities 15% - 35% 27 % 25 % Fixed income 20% - 45% 26 % 18 % Real assets 0% - 10% 5 % 7 % Hedge fund of funds 5% - 15% 9 % 9 % Cash and cash equivalents 0% - 10% 1 % 3 %
Schedule of Changes in Fair Value of Plan Assets	The following tables set forth the fair value of the assets by major asset category as of December 31, 2020 and December 31, 2019: At December 31, 2020 In thousands Level 1 Level 2 Measured at NAV Total Carrying Value Domestic equity $ 15,004 $ — $ — $ 15,004 International equity 12,473 — — 12,473 Fixed income 12,293 — — 12,293 Real assets 2,219 — — 2,219 Hedge fund of funds — — 4,280 4,280 Cash and cash equivalents 293 — — 293 Total assets at fair value $ 42,282 $ — $ 4,280 $ 46,562 At December 31, 2019 In thousands Level 1 Level 2 Measured at NAV Total Carrying Value Domestic equity $ 16,729 $ — $ — $ 16,729 International equity 10,903 — — 10,903 Fixed income 3,724 — — 3,724 U.S. government securities — 2,686 — 2,686 Corporate and foreign bonds — 1,701 — 1,701 Real assets 3,010 — — 3,010 Hedge fund of funds 4,009 — — 4,009 Cash and cash equivalents 145 1,031 — 1,176 Total assets at fair value $ 38,520 $ 5,418 $ — $ 43,938
Schedule of Expected Benefit Payments	Estimated future benefit payments for the IPM Pension Plan are as follows: In thousands 2021 2022 2023 2024 2025 Thereafter Benefit payments $ 3,011 $ 3,054 $ 3,072 $ 3,132 $ 3,183 $ 15,867

EQUITY COMPENSATION PLANS (Tabl

EQUITY COMPENSATION PLANS (Tables)	12 Months Ended
	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Schedule of Valuation Assumptions of Options Granted	The fair value of each option granted was estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted-average assumptions: For the Year Ended December 31, 2020 2019 2018 Risk-free interest rate 1.0 % 1.7 % 2.7 % Expected life 5.2 years 5.3 years 5.5 years Expected volatility 43 % 37 % 34 % Expected dividend yield — % — % — %
Schedule of Outstanding and Exercisable Options	The following is a summary of outstanding and exercisable options: For the Year Ended December 31, In thousands, except per share amounts 2020 2019 2018 Outstanding Options Shares Weighted-Average Exercise Price Shares Weighted-Average Exercise Price Shares Weighted-Average Exercise Price Outstanding at beginning of period 683 $ 27.15 623 $ 30.14 433 $ 33.37 Granted 180 17.37 242 19.35 246 21.49 Exercised (102) 21.24 (40) 11.47 (54) 16.48 Forfeited or Expired (273) 32.09 (142) 31.36 (2) 36.08 Outstanding at end of period 488 $ 22.03 683 $ 27.15 623 $ 30.14 Exercisable 179 $ 27.35 318 $ 33.01 254 $ 29.36 Unvested 309 $ 18.94 365 $ 22.04 369 $ 30.68
Schedule of Unvested Restricted Shares	The following is a summary of the Company’s unvested time-based restricted shares: For the Year Ended December 31, In thousands, except per share amounts 2020 2019 2018 Outstanding Time-Restricted Shares Shares Weighted-Average Grant-Date Fair Value Shares Weighted-Average Grant-Date Fair Value Shares Weighted-Average Grant-Date Fair Value Unvested at the beginning of the period 159 $ 24.33 114 $ 37.67 80 $ 48.65 Granted 84 17.92 98 20.99 73 26.52 Vested (37) 31.00 (23) 56.45 (31) 36.45 Forfeited or Expired (29) 23.09 (30) 39.58 (8) 50.56 Unvested at the end of the period 177 $ 20.11 159 $ 24.33 114 $ 37.67 The following is a summary of all of the Company’s unvested performance-restricted shares: For the Year Ended December 31, In thousands, except per share amounts 2020 2019 2018 Outstanding Performance-Restricted Shares Shares Weighted-Average Grant-Date Fair Value Shares Weighted-Average Grant-Date Fair Value Shares Weighted-Average Grant-Date Fair Value Unvested at the beginning of the period 129 $ 28.36 190 $ 36.63 139 $ 42.53 Granted 70 19.05 60 20.90 99 24.22 Vested — — — — (48) 27.96 Forfeited or Expired (57) 33.47 (121) 37.71 — — Unvested at the end of the period 142 $ 21.67 129 $ 28.36 190 $ 36.63
Schedule of Valuation Assumptions of Restricted Shares	The fair values of each performance-restricted share award that contains a market condition were estimated on the date of grant using a Monte Carlo simulation with the following weighted-average assumptions: For the Year Ended December 31, 2020 2019 2018 Performance period 1/1/20-12/31/22 1/1/20-12/31/22 1/1/19 - 12/31/21 Compounded risk-free interest rate 0.9 % 1.5 % 2.7 % Lookback term 2.7 years 3.2 years 3.1 years Historical volatility 51 % 42 % 35 % Peer group S&P 600 Industrials Index S&P 600 Industrials Index S&P 600 Industrials Index Expected dividend yield — % — % — % These performance-restricted awards vest according to the Company's relative Total Shareholder Return ("rTSR") performance as compared to the peer group over the performance period, according to the following table, where rTSR is calculated as ending stock price less beginning stock price, plus reinvested dividends, divided by beginning stock price: Performance Level Percentile Ranking Vesting Percentage of Award Maximum 75th Percentile or Higher 150% Target 50th Percentile 100% Threshold 25th Percentile 50% Below Threshold Below the 25th Percentile —%

RESTRUCTURING (Tables)

RESTRUCTURING (Tables)	12 Months Ended
	Dec. 31, 2020
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Charges by Cost Type	The following table summarizes the total restructuring charges by cost type: In thousands Severance and Related Expenses Facility Exit and Asset Write-Off Expenses Total Expenses incurred during year ended: December 31, 2018 $ 606 $ 1,691 $ 2,297 December 31, 2019 145 622 767 December 31, 2020 10,097 5,806 15,903 Total expenses $ 10,848 $ 8,119 $ 18,967
Schedule of Accrued Restructuring Liability by Cost Type	The following table summarizes the accrued liability balance by cost type for the restructuring actions: In thousands Total December 31, 2018 $ 147 Pre-tax restructuring expenses, excluding depreciation 767 Cash paid (806) December 31, 2019 $ 108 Pre-tax restructuring expenses, excluding depreciation 10,097 Cash paid (1,193) Currency translation adjustments 419 December 31, 2020 $ 9,431

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2020
Segment Reporting [Abstract]
Schedule of Net Sales by Segment and for OPS, Reconciling Items to Equal to Consolidated Net Sales	Net sales by business segment is as follows: Net Sales For the Year Ended December 31, In thousands 2020 2019 2018 Performance Materials Segment (1),(3) : Filtration Products $ 119,969 $ 93,314 $ 93,089 Sealing and Advanced Solutions Products 144,676 152,166 76,128 Performance Materials Segment net sales 264,645 245,480 169,217 Technical Nonwovens Segment (2) : Industrial Filtration Products 119,367 144,320 157,606 Advanced Materials Products (3) 102,973 111,026 119,465 Technical Nonwovens Segment net sales 222,340 255,346 277,071 Thermal Acoustical Solutions Segment: Parts 272,414 326,436 328,057 Tooling 22,393 35,141 37,370 Thermal Acoustical Solutions Segment net sales 294,807 361,577 365,427 Eliminations and Other (3) (17,751) (25,005) (25,818) Consolidated Net Sales $ 764,041 $ 837,398 $ 785,897 Operating (loss) income by business segment is as follows: Operating (Loss) Income For the Year Ended December 31, In thousands 2020 2019 (8) 2018 Performance Materials Segment (1),(4) $ (46,044) $ (59,804) $ 13,139 Technical Nonwovens Segment (2),(5) 18,599 22,895 21,323 Thermal Acoustical Solutions Segment (6) (871) 23,590 38,085 Corporate Office Expenses (7) (33,749) (25,506) (23,359) Consolidated Operating (Loss) Income $ (62,065) $ (38,825) $ 49,188 Total assets by business segment is as follows: Total Assets At December 31, In thousands 2020 2019 2018 Performance Materials Segment (1),(4) $ 265,107 $ 325,164 $ 414,211 Technical Nonwovens Segment (2) 245,094 242,787 242,007 Thermal Acoustical Solutions Segment 215,562 199,218 201,509 Corporate Office 49,699 18,768 14,959 Total Assets $ 775,462 $ 785,937 $ 872,686 Capital expenditures and depreciation and amortization by business segment are as follows: Capital Expenditures (11) Depreciation and Amortization (10) In thousands 2020 2019 2018 2020 2019 2018 Performance Materials Segment (1) $ 19,185 $ 8,914 $ 11,288 $ 29,110 $ 25,118 $ 9,006 Technical Nonwovens Segment (2) 5,651 9,345 5,864 11,460 12,702 13,877 Thermal Acoustical Solutions Segment 7,553 17,858 11,934 12,704 10,168 9,190 Corporate Office 979 316 544 683 635 658 Total $ 33,368 $ 36,433 $ 29,630 $ 53,957 $ 48,623 $ 32,731
Schedule of Net Sales by Geographic Area	Net sales and long-lived assets by geographical region is as follows: Net Sales Long-Lived Assets In thousands 2020 2019 2018 2020 2019 (9) 2018 United States (1),(4) $ 420,129 $ 478,720 $ 422,222 $ 131,992 $ 138,265 $ 136,448 France (1) 79,343 75,313 66,579 22,289 13,723 13,219 Germany (1),(4) 112,466 124,402 125,796 33,827 44,116 25,873 United Kingdom 22,144 26,556 27,156 5,598 5,981 4,844 Canada (2) 74,347 76,535 87,622 31,293 29,667 25,614 China (1) 48,586 54,036 54,198 16,597 17,888 11,958 Other (1),(4) 7,026 1,836 2,324 1,758 3,211 4,085 Total $ 764,041 $ 837,398 $ 785,897 $ 243,354 $ 252,851 $ 222,041 (1) The Performance Materials segment includes the financial results of Interface Performance Materials and Precision Custom Coatings for the periods since the dates of the respective acquisitions of August 31, 2018 and July 12, 2018, respectively. (2) The Technical Nonwovens segment includes results of Texel Geosol, Inc. ("Geosol") through the date of disposition of May 9, 2019. (3) Included in the Performance Materials Segment, Technical Nonwovens Segment and Eliminations and Other are the following: • Technical Nonwovens segment intercompany-sales of $14.5 million, $21.0 million, and $22.2 million to the Thermal Acoustical Solutions segment for the years ended December 31, 2020, 2019, and 2018, respectively. • Performance Materials segment intercompany sales of $3.3 million, $4.0 million, and $3.5 million to the Thermal Acoustical Solutions segment for the years ended December 31, 2020, 2019, and 2018, respectively. (4) Included in the operating results within the Performance Materials segment are the following: • $61.1 million and $64.2 million of impairment charges related to goodwill and other long-lived assets for the years ended December 31, 2020 and 2019, respectively. • $15.5 million of restructuring charges for the year ended December 31, 2020. • $15.8 million, $16.2 million, and $3.5 million of intangible assets amortization for the years ended December 31, 2020, 2019 and 2018, respectively. • $2.0 million of purchase accounting adjustment related to inventory step-up for the year ended December 31, 2018. (5) Included in the operating results within the Technical Nonwovens segment are the following: • $4.8 million, $5.1 million, and $5.6 million of intangible assets amortization for the years ended December 31, 2020, 2019 and 2018, respectively. • $0.8 million and $2.3 million of restructuring expenses for the years ended December 31, 2019 and 2018, respectively. (6) Included in the operating results within the Thermal Acoustical Solutions segment is $0.5 million of severance costs for the year ended December 31, 2020. (7) Included in the operating results within Corporate Office Expenses are the following: • $2.3 million in CEO transition expenses for the year ended December 31, 2019. • $3.1 million, $1.5 million, and $3.6 million in corporate strategic initiatives predominantly within Corporate Office Expenses for the years ended December 31, 2020, 2019 and 2018, respectively. • $0.4 million of restructuring charges for the year ended December 31, 2020. (8) Included in the operating results across all segments is a total of $1.9 million of reduction-in-force severance expenses for the year ended December 31, 2019. (9) Effective January 1, 2019, the Company adopted ASU 2016-02, "Leases (Topic 842)", requiring the Company to recognize right-of-use assets totaling $23.1 million at December 31, 2019. (10) Depreciation and Amortization excludes the amortization of debt issuance costs in connection with the Amended Credit Agreement. Total amortization expense for the years ended December 31, 2020, 2019, and 2018, was $1.0 million, $0.3 million, and $0.2 million, respectively. See Note 7, “Long-term Debt and Financing Arrangements” in these Notes to the Consolidated Financial Statements for additional information. (11) Capital expenditures include the net change in non-cash activity included in accounts payable during the year ended December 31, 2020, 2019, and 2018 of $0.1 million, $(0.6) million and $1.7 million, respectively.

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Schedule of Components of Provision for Income Taxes	The provision for income taxes consists of the following: For the Year Ended December 31, In thousands 2020 2019 2018 Current: Federal $ (6,551) $ 3,505 $ 3,739 State 49 381 498 Foreign 4,124 4,479 3,788 Total current $ (2,378) $ 8,365 $ 8,025 Deferred: Federal $ (3,622) $ (12,481) $ 2,646 State (1,719) (1,442) 380 Foreign 886 (858) (2,598) Total deferred (4,455) (14,781) 428 Provision (Benefit) for income taxes $ (6,833) $ (6,416) $ 8,453
Schedule of Reconciliation of the Difference between the Actual Provisions for Income Taxes	The following is a reconciliation of the difference between the actual provision for income taxes and the provision computed by applying the federal statutory tax rate on earnings: For the Year Ended December 31, 2020 2019 2018 Statutory federal income tax rate 21.0 % 21.0 % 21.0 % State income taxes, net of federal benefit 0.9 2.7 1.6 Valuation allowances for deferred tax assets, including state (3.7) (4.4) (1.3) Research and development credits 0.3 0.7 (1.3) Capitalized transaction costs — — 0.6 Stock based compensation (0.8) (0.1) (0.7) Goodwill Impairment (12.3) (19.6) — Foreign income taxed at lower rates — 2.4 (1.6) Reserves for uncertain tax positions 2.3 0.3 — Repatriation of foreign undistributed earnings — — 1.6 CARES Act carryback benefit 1.4 — — Pension plan settlement — 5.9 — Other (0.6) (0.6) (0.4) Effective income tax rate 8.5 % 8.3 % 19.5 %
Schedule of Net Current and Net Long-Term Deferred Tax Assets and Liabilities by Tax Jurisdiction	The following schedule presents net current and net long-term deferred tax assets and liabilities by tax jurisdiction as of December 31, 2020 and 2019: Deferred tax assets: At December 31, In thousands 2020 2019 Foreign $ 1,260 $ 1,933 Totals $ 1,260 $ 1,933 Deferred tax liabilities: At December 31, In thousands 2020 2019 Federal $ 21,464 $ 26,992 State 1,027 2,902 Foreign 4,683 4,667 Totals $ 27,174 $ 34,561
Schedule of Components of Deferred Tax Asset and Liability	Net deferred tax assets (liabilities) consisted of the following: At December 31, In thousands 2020 2019 Deferred tax assets: Accounts receivable $ 438 $ 377 Financial Hedging Instruments 2,774 1,491 Interest Expense Carryovers — 2,371 Inventories 1,952 1,845 Net operating loss carryforwards 13,553 8,478 Operating lease 5,797 6,001 Other accrued liabilities 4,270 5,905 Pension 5,125 4,274 Tax Credits 1,498 2,015 Total deferred tax assets 35,407 32,757 Deferred tax liabilities: Intangible assets 17,694 21,990 Right of use assets 5,797 6,001 Property, plant and equipment 24,844 28,177 Total deferred tax liabilities 48,335 56,168 Valuation allowance 12,986 9,217 Net deferred tax liabilities $ (25,914) $ (32,628)
Schedule of Income from Continuing Operations before Income Taxes	For the years ended December 31, 2020, 2019, and 2018, (loss) income before income taxes was derived from the following sources: For the Year Ended December 31, In thousands 2020 2019 2018 United States $ (68,895) $ (73,539) $ 33,928 Foreign (11,700) (3,538) 9,337 Total (loss) income before income taxes $ (80,595) $ (77,077) $ 43,265
Schedule of Reconciliation of Unrecognized Tax Benefits	A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: At December 31, In thousands 2020 2019 Unrecognized tax benefits at beginning of year $ 3,212 $ 3,563 Decreases relating to positions taken in prior periods (31) (36) Decreases due to lapse of statute of limitations (1,463) (315) Unrecognized tax benefits at end of year $ 1,718 $ 3,212

(LOSS) EARNINGS PER SHARE (Tabl

(LOSS) EARNINGS PER SHARE (Tables)	12 Months Ended
	Dec. 31, 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 Year Ended December 31, In thousands 2020 2019 2018 Basic average common shares outstanding 17,379 17,271 17,204 Effect of dilutive options and restricted stock awards — — 126 Diluted average common shares outstanding 17,379 17,271 17,330

CHANGES IN ACCUMULATED OTHER _2

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	12 Months Ended
	Dec. 31, 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 years ended December 31, 2020, 2019 and 2018: For the Year Ended December 31, In Thousands 2020 2019 2018 Foreign currency translation: Beginning balance $ (18,022) $ (18,458) $ (2,221) Net gain (loss) on foreign currency translation 14,508 436 (16,237) Other comprehensive income (loss), net of tax 14,508 436 (16,237) Ending balance (3,514) (18,022) (18,458) Pension and other postretirement benefit plans: Beginning balance (3,080) (22,253) (18,049) Changes in net actuarial loss (1) (2,854) (222) (4,998) Amounts reclassified from accumulated other comprehensive loss (2) 326 19,395 794 Other comprehensive (loss) income, net of tax (2,528) 19,173 (4,204) Ending balance (5,608) (3,080) (22,253) Unrealized loss on derivative instruments: Beginning balance (4,877) (1,974) 122 Net loss on derivative instruments (3) (6,114) (2,903) (2,096) Amounts reclassified from accumulated other comprehensive loss (4) 1,771 — — Other comprehensive loss, net of tax (4,343) (2,903) (2,096) Ending balance (9,220) (4,877) (1,974) Total accumulated other comprehensive loss $ (18,342) $ (25,979) $ (42,685) (1) Amounts represent the net actuarial losses arising from the Company's pension and postretirement benefit obligations, net of tax impact of $0.9 million in 2020, less than $0.1 million in 2019, and $1.5 million in 2018. See Note 12, "Employer Sponsored Benefit Plans" in these Notes to the Consolidated Financial Statements. (2) For the year ended December 31, 2020, amount represents the settlement of the ISS Pension Plan in the three-month period ended March 31, 2020 of $0.3 million, net of $0.1 million tax impact, and routine amortization of actuarial gains and losses in net periodic benefit cost and other activity of less than $0.1 million, net of less than $0.1 million tax impact. For the year ended December 31, 2019, amount represents the settlement of the Lydall Pension Plan in the second quarter of 2019 of $19.0 million, net of $11.5 million tax impact, and routine amortization of actuarial losses in net periodic benefit cost during the first five months of fiscal year 2019 prior to the plan termination of $0.4 million, net of $0.1 million tax impact. For the year ended December 31, 2018, amount represents routine amortization of actuarial losses in net periodic benefit cost of $0.8 million, net of $0.2 million tax impact. (3) Amounts represent unrealized losses on the fair value of hedging activities, net of tax impact of $1.8 million, $0.9 million and $0.6 million for the years ended December 31, 2020, 2019 and 2018, respectively. (4) Amount represents the impact of de-designation of the interest rate swap agreement, net of tax impact of $0.5 million for the year ended December 31, 2020.

SIGNIFICANT ACCOUNTING POLICI_4

SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details)	3 Months Ended			12 Months Ended
	Jun. 30, 2020USD ($)	Mar. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2020USD ($)reportable_segment	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Accounting Policies [Line Items]
Number of reportable segments | reportable_segment				3
Non-cash capital expenditures				$ 5,400,000	$ 5,500,000	$ 4,900,000
Foreign and export sales (as a percent)				55.30%	53.10%	53.50%
Export sales				$ 80,200,000	$ 86,300,000	$ 56,800,000
Sales to automotive market (as a percent)				38.50%	42.90%	46.30%
Net sales				$ 764,041,000	$ 837,398,000	$ 785,897,000
Goodwill impairment	$ 48,671,000	$ 48,700,000	$ 63,000,000	48,671,000	63,000,000
Capital investments				38,000,000
Research and development expense				$ 10,300,000	11,200,000	10,600,000
Cash received from trade receivables sold at time of sale (as a percent)				90.00%
Cash received from trade receivables sold when customer payment received (as a percent)				10.00%
Maximum amount subject to Receivables Purchases Agreements				$ 10,000,000
Maximum aggregate amount subject to Receivables Purchases Agreements				50,000,000
Asset impairment charges	61,109,000			61,109,000	64,206,000	0
United States
Accounting Policies [Line Items]
Net sales				420,129,000	478,720,000	422,222,000
Funding received for capital investments				13,500,000
France
Accounting Policies [Line Items]
Net sales				79,343,000	75,313,000	66,579,000
Performance Materials
Accounting Policies [Line Items]
Goodwill impairment	48,671,000		63,000,000	48,671,000	63,000,000
Asset impairment charges	$ 61,109,000
Trade Receivables
Accounting Policies [Line Items]
Disposal of assets			$ 16,000,000	77,400,000	16,000,000
Proceeds from sale of trade receivables				71,100,000	14,900,000
Fees related to disposal of trade receivables				$ 400,000	100,000
Maximum | France
Accounting Policies [Line Items]
Proportion of funding received for capital investments (as a percent)				30.00%
Sales Revenue | Customer Concentration Risk | Ford Motor Company
Accounting Policies [Line Items]
Net sales					$ 99,100,000	$ 116,100,000
Concentration risk (as a percent)					11.80%	14.80%

SIGNIFICANT ACCOUNTING POLICI_5

SIGNIFICANT ACCOUNTING POLICIES - Tooling-Related Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Accounting Policies [Line Items]
Total tooling related assets	$ 5,432	$ 4,064
Inventories
Accounting Policies [Line Items]
Total tooling related assets	2,769	1,777
Prepaid expenses and other current assets
Accounting Policies [Line Items]
Total tooling related assets	711	530
Other assets, net
Accounting Policies [Line Items]
Total tooling related assets	$ 1,952	$ 1,757

REVENUE FROM CONTRACTS WITH C_3

REVENUE FROM CONTRACTS WITH CUSTOMERS - Narrative (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)
Disaggregation of Revenue [Line Items]
Increase (decrease) in contract assets	$ 4,158
Increase (decrease) in contract liabilities	2,245
Revenue recognized	$ 1,100
Minimum | Parts
Disaggregation of Revenue [Line Items]
Customer payment terms	30 days
Minimum | Tooling
Disaggregation of Revenue [Line Items]
Customer payment terms	30 days
Maximum | Parts
Disaggregation of Revenue [Line Items]
Customer payment terms	90 days
Maximum | Tooling
Disaggregation of Revenue [Line Items]
Customer payment terms	90 days

REVENUE FROM CONTRACTS WITH C_4

REVENUE FROM CONTRACTS WITH CUSTOMERS - Contract Assets and Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Revenue from Contract with Customer [Abstract]
Contract assets	$ 32,403	$ 28,245
Dollar Change in contract assets	4,158
Contract liabilities	3,686	$ 1,441
Dollar Change in contract liabilities	$ 2,245

REVENUE FROM CONTRACTS WITH C_5

REVENUE FROM CONTRACTS WITH CUSTOMERS - Disaggregation of Revenue by Geographical Location (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disaggregation of Revenue [Line Items]
Net sales	$ 764,041	$ 837,398	$ 785,897
North America
Disaggregation of Revenue [Line Items]
Net sales	494,475	555,256	509,844
Europe
Disaggregation of Revenue [Line Items]
Net sales	220,502	227,848	221,799
Asia
Disaggregation of Revenue [Line Items]
Net sales	49,064	54,294	54,254
Operating Segments | Performance Materials
Disaggregation of Revenue [Line Items]
Net sales	264,645	245,480	169,217
Operating Segments | Performance Materials | North America
Disaggregation of Revenue [Line Items]
Net sales	181,741	176,094	117,313
Operating Segments | Performance Materials | Europe
Disaggregation of Revenue [Line Items]
Net sales	73,378	61,889	49,055
Operating Segments | Performance Materials | Asia
Disaggregation of Revenue [Line Items]
Net sales	9,526	7,497	2,849
Operating Segments | Technical Nonwovens
Disaggregation of Revenue [Line Items]
Net sales	222,340	255,346	277,071
Operating Segments | Technical Nonwovens | North America
Disaggregation of Revenue [Line Items]
Net sales	134,509	157,579	167,519
Operating Segments | Technical Nonwovens | Europe
Disaggregation of Revenue [Line Items]
Net sales	64,624	68,456	73,912
Operating Segments | Technical Nonwovens | Asia
Disaggregation of Revenue [Line Items]
Net sales	23,207	29,311	35,640
Operating Segments | Thermal Acoustical Solutions
Disaggregation of Revenue [Line Items]
Net sales	294,807	361,577	365,427
Operating Segments | Thermal Acoustical Solutions | North America
Disaggregation of Revenue [Line Items]
Net sales	195,223	245,870	250,133
Operating Segments | Thermal Acoustical Solutions | Europe
Disaggregation of Revenue [Line Items]
Net sales	83,253	98,221	99,529
Operating Segments | Thermal Acoustical Solutions | Asia
Disaggregation of Revenue [Line Items]
Net sales	16,331	17,486	15,765
Eliminations and Other
Disaggregation of Revenue [Line Items]
Net sales	(17,751)	(25,005)	(25,818)
Eliminations and Other | North America
Disaggregation of Revenue [Line Items]
Net sales	(16,998)	(24,287)	(25,121)
Eliminations and Other | Europe
Disaggregation of Revenue [Line Items]
Net sales	(753)	(718)	(697)
Eliminations and Other | Asia
Disaggregation of Revenue [Line Items]
Net sales	$ 0	$ 0	$ 0

DIVESTITURES - Narrative (Detai

DIVESTITURES - Narrative (Details) $ in Thousands	May 09, 2019USD ($)annual_payment	Jun. 30, 2019USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain on sale of business, net of income taxes			$ 0	$ 1,459	$ 0
Texel Geosol, Inc. | Disposal Group, Held-for-sale or Disposed of by Sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash purchase price of divestiture	$ 3,000
Consideration withheld	$ 400
Number of annual payments | annual_payment	3
Annual payment of consideration withheld	$ 100
Pre-tax gain on sale of business		$ 1,500
Gain on sale of business, net of income taxes		$ 1,300

INVENTORIES - Summary (Details)

INVENTORIES - Summary (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Inventory Disclosure [Abstract]
Raw materials	$ 32,258	$ 36,322
Work in process	17,087	14,873
Finished goods	29,651	29,349
Total inventories	$ 78,996	$ 80,544

INVENTORIES - Narrative (Detail

INVENTORIES - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Inventory Disclosure [Abstract]
Tooling inventory	$ 2.8	$ 1.8

PROPERTY, PLANT AND EQUIPMENT_3

PROPERTY, PLANT AND EQUIPMENT, NET - Summary (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Assets under finance leases	$ 486,563	$ 461,323
Accumulated depreciation	(291,966)	(265,586)
Accumulated depreciation of finance leases	(30)	(143)
Property and equipment, net excluding work in progress	194,567	195,594
Construction in progress	19,946	26,048
Total property, plant and equipment, net	214,513	221,642
Depreciation expense	27,900	27,100	$ 23,400
Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	5,030	6,268
Land | Assets Held under Finance Leases
Property, Plant and Equipment [Line Items]
Assets under finance leases	240	225
Buildings and improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 108,370	107,721
Buildings and improvements | Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful life	10 years
Buildings and improvements | Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful life	35 years
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 337,792	308,457
Machinery and equipment | Assets Held under Finance Leases
Property, Plant and Equipment [Line Items]
Assets under finance leases	$ 0	200
Machinery and equipment | Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful life	5 years
Machinery and equipment | Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful life	25 years
Office equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 33,574	36,905
Office equipment | Assets Held under Finance Leases
Property, Plant and Equipment [Line Items]
Assets under finance leases	$ 0	31
Property, plant and equipment useful life	5 years
Office equipment | Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful life	2 years
Office equipment | Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful life	8 years
Vehicles
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 1,557	$ 1,516
Vehicles | Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful life	3 years
Vehicles | Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful life	6 years

GOODWILL AND OTHER INTANGIBLE_3

GOODWILL AND OTHER INTANGIBLE ASSETS - Gross and Net Carrying Amounts of Goodwill (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Goodwill [Roll Forward]
Gross balance at beginning of period	$ 211,426	$ 209,072
Accumulated impairment	(123,831)	(75,160)
Goodwill	87,595	133,912	$ 196,963
Performance Materials
Goodwill [Roll Forward]
Gross balance at beginning of period	143,659	143,658
Accumulated impairment	(111,671)	(63,000)
Goodwill	31,988	80,658	144,626
Technical Nonwovens
Goodwill [Roll Forward]
Gross balance at beginning of period	55,607	53,254
Accumulated impairment	0	0
Goodwill	55,607	53,254	$ 52,337
Thermal Acoustical Solutions
Goodwill [Roll Forward]
Gross balance at beginning of period	12,160	12,160
Accumulated impairment	(12,160)	(12,160)
Goodwill	$ 0	$ 0

GOODWILL AND OTHER INTANGIBLE_4

GOODWILL AND OTHER INTANGIBLE ASSETS - Changes in Carrying Amount of Goodwill by Reporting Unit (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended	12 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Jun. 30, 2019	Sep. 30, 2019	Dec. 31, 2020	Dec. 31, 2019
Goodwill [Roll Forward]
Beginning Balance		$ 133,912				$ 133,912	$ 196,963
Goodwill reduction							(662)
Goodwill impairment	$ (48,671)	(48,700)	$ (63,000)			(48,671)	(63,000)
Currency translation adjustment						2,354	611
Ending Balance			133,912			87,595	133,912
Performance Materials
Goodwill [Roll Forward]
Beginning Balance		80,658				80,658	144,626
Goodwill reduction				$ 600			(662)
Goodwill impairment	(48,671)		(63,000)			(48,671)	(63,000)
Currency translation adjustment						1	(306)
Ending Balance			80,658			31,988	80,658
Performance Materials | Interface Performance Materials
Goodwill [Roll Forward]
Goodwill reduction					$ (1,300)
Technical Nonwovens
Goodwill [Roll Forward]
Beginning Balance		53,254				53,254	52,337
Goodwill reduction							0
Goodwill impairment	$ 0	$ 0				0	0
Currency translation adjustment						2,353	917
Ending Balance			$ 53,254			$ 55,607	$ 53,254

GOODWILL AND OTHER INTANGIBLE_5

GOODWILL AND OTHER INTANGIBLE ASSETS - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended			12 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Goodwill [Line Items]
Goodwill impairment	$ 48,671	$ 48,700	$ 63,000	$ 48,671	$ 63,000
Impairment of long-lived assets	12,438
Amortization of intangible assets				20,800	21,500	$ 9,300
Performance Materials
Goodwill [Line Items]
Weighted-average cost of capital (as a percent)		11.50%	9.20%
Goodwill impairment	48,671		$ 63,000	48,671	63,000
Impairment of long-lived assets	12,438	$ 12,400			1,200
Carrying value of property, plant and equipment			$ 3,000		3,000
Thermal Acoustical Solutions
Goodwill [Line Items]
Weighted-average cost of capital (as a percent)		10.80%	9.20%
Goodwill impairment	0
Impairment of long-lived assets	0
Technical Nonwovens
Goodwill [Line Items]
Goodwill impairment	0	$ 0		$ 0	$ 0
Impairment of long-lived assets	$ 0

GOODWILL AND OTHER INTANGIBLE_6

GOODWILL AND OTHER INTANGIBLE ASSETS - Impairment Charges (Details) - USD ($) $ in Thousands	3 Months Ended			12 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Finite-Lived Intangible Assets [Line Items]
Impairment of goodwill	$ 48,671	$ 48,700	$ 63,000	$ 48,671	$ 63,000
Impairment of other long-lived assets	12,438
Total impairments	61,109			61,109	64,206	$ 0
Performance Materials
Finite-Lived Intangible Assets [Line Items]
Impairment of goodwill	48,671		$ 63,000	48,671	63,000
Impairment of other long-lived assets	12,438	12,400			1,200
Total impairments	61,109
Technical Nonwovens
Finite-Lived Intangible Assets [Line Items]
Impairment of goodwill	0	$ 0		$ 0	$ 0
Impairment of other long-lived assets	0
Total impairments	0
Thermal Acoustical Solutions
Finite-Lived Intangible Assets [Line Items]
Impairment of goodwill	0
Impairment of other long-lived assets	0
Total impairments	$ 0

GOODWILL AND OTHER INTANGIBLE_7

GOODWILL AND OTHER INTANGIBLE ASSETS - Other Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Amortized intangible assets
Gross Carrying Amount	$ 154,776	$ 154,113
Accumulated Amortization	(59,655)	(38,536)
Customer relationships
Amortized intangible assets
Gross Carrying Amount	143,479	142,400
Accumulated Amortization	(50,076)	(30,648)
Patents
Amortized intangible assets
Gross Carrying Amount	650	759
Accumulated Amortization	(616)	(607)
Technology
Amortized intangible assets
Gross Carrying Amount	2,500	2,500
Accumulated Amortization	(1,144)	(977)
Trade names
Amortized intangible assets
Gross Carrying Amount	7,495	7,293
Accumulated Amortization	(7,167)	(5,143)
License agreements
Amortized intangible assets
Gross Carrying Amount	185	610
Accumulated Amortization	(185)	(610)
Other
Amortized intangible assets
Gross Carrying Amount	467	551
Accumulated Amortization	$ (467)	$ (551)

LONG-TERM DEBT AND FINANCING _3

LONG-TERM DEBT AND FINANCING ARRANGEMENTS - Narrative (Details)

Aug. 31, 2018USD ($)

Sep. 30, 2022

Jun. 30, 2021

Dec. 31, 2020USD ($)

Jun. 30, 2020

Jun. 30, 2022

Mar. 31, 2021

Oct. 14, 2020USD ($)

May 11, 2020USD ($)

Dec. 31, 2019USD ($)

Dec. 31, 2018USD ($)

Aug. 30, 2018USD ($)

Debt Instrument [Line Items]

Long-term debt maturing in 2021

$ 10,000,000

Long-term debt maturing in 2022

10,000,000

Long-term debt maturing in 2023

$ 251,000,000

Weight-average interest rate (as a percent)

5.30%

4.30%

3.40%

Term Loan

Debt Instrument [Line Items]

Periodic payment on debt instrument

$ 2,500,000

Revolving Credit Facility

Debt Instrument [Line Items]

Maximum borrowing capacity

$ 314,000,000

Old Amended Credit Facility | Revolving Credit Facility

Debt Instrument [Line Items]

Maximum borrowing capacity

$ 450,000,000

$ 175,000,000

Amended Credit Facility - 2020

Debt Instrument [Line Items]

Proportion of personal property and other assets of foreign subsidiaries pledged as collateral (as a percent)

65.00%

Proportion of personal property and other assets of domestic subsidiaries pledged as collateral (as a percent)

100.00%

Letters of credit outstanding

$ 1,800,000

Debt issuance costs

1,000,000

$ 300,000

$ 200,000

Amended Credit Facility - 2020 | Term Loan

Debt Instrument [Line Items]

Long-term debt

144,000,000

Borrowings outstanding

135,900,000

Amended Credit Facility - 2020 | Revolving Credit Facility

Debt Instrument [Line Items]

Long-term debt

170,000,000

Minimum fixed charge coverage ratio for preceding 12 month period

1

Minimum cash and cash equivalents balances

$ 40,000,000

Remaining borrowing availability

33,700,000

Borrowings outstanding

134,500,000

Debt issuance costs

$ 600,000

Amended Credit Facility - 2020 | Revolving Credit Facility | Forecast

Debt Instrument [Line Items]

Minimum fixed charge coverage ratio for preceding 12 month period

1.25

1.25

Maximum leverage ratio of credit facility

4.50

3.50

6.50

Amended Credit Facility - 2020 | Revolving Credit Facility | Minimum

Debt Instrument [Line Items]

Unused borrowing capacity, commitment fee percentage

0.375%

Amended Credit Facility - 2020 | Revolving Credit Facility | Federal Funds Effective Swap Rate

Debt Instrument [Line Items]

Basis spread on variable rate (as a percent)

0.50%

Amended Credit Facility - 2020 | Revolving Credit Facility | Eurocurrency Rate

Debt Instrument [Line Items]

Basis spread on variable rate (as a percent)

1.00%

Amended Credit Facility - 2020 | Revolving Credit Facility | Eurocurrency Rate | Minimum

Debt Instrument [Line Items]

Basis spread on variable rate (as a percent)

3.00%

Amended Credit Facility - 2020 | Revolving Credit Facility | Eurocurrency Rate | Maximum

Debt Instrument [Line Items]

Basis spread on variable rate (as a percent)

4.25%

Amended Credit Facility - 2020 | Revolving Credit Facility | Base Rate | Minimum

Debt Instrument [Line Items]

Basis spread on variable rate (as a percent)

2.00%

Amended Credit Facility - 2020 | Revolving Credit Facility | Base Rate | Maximum

Debt Instrument [Line Items]

Basis spread on variable rate (as a percent)

3.25%

Amended Credit Facility - 2020 | Foreign Credit Facilities

Debt Instrument [Line Items]

Remaining borrowing availability

$ 11,000,000

Letters of credit outstanding

$ 1,400,000

LONG-TERM DEBT AND FINANCING _4

LONG-TERM DEBT AND FINANCING ARRANGEMENTS - Total Outstanding Debt (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Finance leases	$ 0	$ 35,000
Total	270,438,000	272,641,000
Less portion due within one year	(9,789,000)	(9,928,000)
Total long-term debt, net of debt issuance costs	$ 260,649,000	262,713,000
Revolver Loan Due August 31, 2023 | Revolving Credit Facility
Debt Instrument [Line Items]
Effective Rate (as a percent)	4.25%
Long-term debt, gross	$ 134,500,000	126,500,000
Term Loan Due August 31, 2023
Debt Instrument [Line Items]
Effective Rate (as a percent)	4.25%
Long-term debt, gross	$ 135,938,000	$ 146,106,000
Finance Leases
Debt Instrument [Line Items]
Effective Rate (as a percent)	1.65%

DERIVATIVES - Narrative (Detail

DERIVATIVES - Narrative (Details) € in Millions	1 Months Ended		3 Months Ended	12 Months Ended
	Nov. 30, 2018USD ($)	Apr. 30, 2017USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	May 11, 2020	Nov. 30, 2019USD ($)derivative_contract	Nov. 30, 2019EUR (€)derivative_contract
Reclassification out of Accumulated Other Comprehensive Income
Derivative [Line Items]
Net income (loss)					$ 2,300,000
Reclassification out of Accumulated Other Comprehensive Income | Forecast
Derivative [Line Items]
Net income (loss)				$ 2,800,000
Total Accumulated Other Comprehensive (Loss) Income
Derivative [Line Items]
Net income (loss)					$ 3,900,000
Eurocurrency Rate
Derivative [Line Items]
Derivative floor interest rate (as a percent)						1.00%
Interest rate contracts
Derivative [Line Items]
Term of derivative contract	5 years	3 years
Notional amount	$ 139,000,000	$ 60,000,000
Derivative fixed interest rate (as a percent)	3.09%	1.58%
Derivative quarterly reduction amount			$ 5,000,000
Cross-currency swaps
Derivative [Line Items]
Notional amount							$ 25,000,000	€ 22.6
Number of instruments held | derivative_contract							3	3
Aggregate notional amount							$ 75,000,000	€ 67.8

DERIVATIVES - Fair Value Amount

DERIVATIVES - Fair Value Amounts of Derivative Instruments (Details) - Derivatives designated as hedging instrument - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Derivatives, Fair Value [Line Items]
Asset Derivatives	$ 0	$ 2
Liability Derivatives	11,996	6,355
Interest rate contracts
Derivatives, Fair Value [Line Items]
Asset Derivatives	0	2
Liability Derivatives	5,063	4,538
Cross-currency swaps
Derivatives, Fair Value [Line Items]
Asset Derivatives	0	0
Liability Derivatives	$ 6,933	$ 1,817

DERIVATIVES - Loss Recorded in

DERIVATIVES - Loss Recorded in Accumulated Other Comprehensive Income (Loss) (Details) - Derivatives designated as hedging instrument - Cash flow hedges - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in other comprehensive income	$ (4,343)	$ (2,903)
Interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in other comprehensive income	(391)	(1,500)
Cross-currency swaps
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in other comprehensive income	$ (3,952)	$ (1,403)

FAIR VALUE MEASURES - Narrative

FAIR VALUE MEASURES - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended			12 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Goodwill impairment	$ 48,671	$ 48,700	$ 63,000	$ 48,671	$ 63,000
Impairment of long-lived assets	12,438
Performance Materials
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Goodwill impairment	48,671		$ 63,000	$ 48,671	63,000
Impairment of long-lived assets	$ 12,438	$ 12,400			$ 1,200

FAIR VALUE MEASURES - Carrying

FAIR VALUE MEASURES - Carrying Value and Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Carrying Value
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Debt	$ 271,000	$ 273,000
Fair Value
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Debt	$ 272,792	$ 269,434

LEASES - Narrative (Details)

LEASES - Narrative (Details)	12 Months Ended
	Dec. 31, 2020USD ($)finance_leaseoperating_lease	Jan. 01, 2021USD ($)	Dec. 31, 2019USD ($)
Lessee, Lease, Description [Line Items]
Number of operating leases | operating_lease	144
Number of finance leases | finance_lease	1
Termination period of operating leases	1 year
Weighted average discount rate used for operating leases (as a percent)	4.27%
Weighted average discount rate used for finance leases (as a percent)	0.00%
Finance lease liability	$ 0		$ 35,000
Number of lease agreements not yet commenced | operating_lease	1
Operating lease right-of-use assets	$ 22,243,000		23,116,000
Operating lease liability	$ 22,413,000		$ 23,213,000
Quebec, Canada | Forecast
Lessee, Lease, Description [Line Items]
Operating lease right-of-use assets		$ 2,500,000
Operating lease liability		$ 2,500,000
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease term of operating leases	13 years
Renewal term of operating leases	7 years
Minimum
Lessee, Lease, Description [Line Items]
Renewal term of operating leases	1 year

LEASES - Components of Lease Ex

LEASES - Components of Lease Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Finance lease expense:
Amortization of right-of-use assets	$ 42	$ 81
Interest on lease liabilities	0	2
Operating lease expense	6,005	6,510
Short-term lease expense	1,571	918
Variable lease expense	678	199
Total lease expense	$ 8,296	$ 7,710

LEASES - Supplemental Balance S

LEASES - Supplemental Balance Sheet Information (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Operating leases:
Operating lease right-of-use assets	$ 22,243,000	$ 23,116,000
Short-term lease liabilities, included in Other accrued liabilities	4,466,000	4,789,000
Long-term lease liabilities	17,947,000	18,424,000
Total operating lease liabilities	22,413,000	23,213,000
Finance leases:
Property, plant and equipment	240,000	456,000
Accumulated depreciation	(30,000)	(143,000)
Property, plant and equipment, net	210,000	313,000
Short-term lease liabilities, included in debt	0	35,000
Total finance lease liabilities	$ 0	$ 35,000
Weighted average remaining lease term (in years):
Operating leases	6 years 3 months 18 days	7 years 1 month 6 days
Finance leases	28 years 8 months 12 days	20 years 4 months 24 days
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	us-gaap:OtherAccruedLiabilitiesCurrent	us-gaap:OtherAccruedLiabilitiesCurrent
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	us-gaap:PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization	us-gaap:PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	us-gaap:LongTermDebtAndCapitalLeaseObligationsCurrent	us-gaap:LongTermDebtAndCapitalLeaseObligationsCurrent

LEASES - Supplemental Cash Flow

LEASES - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 6,011	$ 6,301
Operating cash flows from finance leases	0	2
Financing cash flows from finance leases	34	240
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	2,779	1,743
Finance leases	$ 0	$ 0

LEASES - Future Lease Payments

LEASES - Future Lease Payments Maturities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
2021	$ 5,293
2022	4,501
2023	3,398
2024	2,465
2025	2,280
Thereafter	8,318
Total lease payments	26,255
Less imputed interest	(3,842)
Total discounted future lease payments	$ 22,413	$ 23,213

CAPITAL STOCK - Narrative (Deta

CAPITAL STOCK - Narrative (Details)	12 Months Ended
	Dec. 31, 2020stockholder$ / sharesshares	Dec. 31, 2019$ / sharesshares
Equity [Abstract]
Preferred stock, par value (USD per share) | $ / shares	$ 0.01	$ 0.01
Preferred stock issued (shares)	0	0
Preferred stock authorized (shares)	500,000	500,000
Number of stockholders | stockholder	8,165
Common stock outstanding (shares)	17,838,052

EMPLOYER SPONSORED BENEFIT PL_3

EMPLOYER SPONSORED BENEFIT PLANS - Narrative (Details) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plan Disclosure [Line Items]
Expected benefit from pension assets			$ 2,119,000	$ 2,601,000	$ 3,339,000
Estimated future employer contributions in next fiscal year			700,000
Employee benefit plans settlement expenses			$ 385,000	25,247,000	0
Assumed weighted rate of return (as a percent)			5.20%
Employer contributions to 401(k) plan			$ 3,800,000	3,700,000	2,900,000
Matching contribution of employees' gross pay (as a percent)			5.00%
Matching contribution of employees' gross pay, first 3% (as a percent)			100.00%
Matching contribution of employees' gross pay, remaining 2% (as a percent)			50.00%
United States
Defined Benefit Plan Disclosure [Line Items]
Contributions by employer			$ 1,949,000	1,415,000
Payment for plan settlement			2,920,000	48,773,000
Outstanding plan obligation		$ 55,101,000	58,443,000	55,101,000	$ 102,679,000
Increase in OCI pension adjustment			300,000
Interface
Defined Benefit Plan Disclosure [Line Items]
Benefit expense since acquisition date			500,000	500,000
Interface | United States
Defined Benefit Plan Disclosure [Line Items]
Increase in OCI pension adjustment			2,200,000	300,000
Pension Plan | United States
Defined Benefit Plan Disclosure [Line Items]
Pre-tax settlement		(500,000)		25,700,000
Contributions by employer			0	0
Payment for plan settlement		$ 2,200,000
Outstanding plan obligation			$ 2,700,000
Employee benefit plans settlement expenses				$ 19,400,000
Pension Plan | ISS Pension Plan | United States
Defined Benefit Plan Disclosure [Line Items]
Pre-tax settlement	$ 400,000

EMPLOYER SPONSORED BENEFIT PL_4

EMPLOYER SPONSORED BENEFIT PLANS - Plan Assets and Benefit Obligations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Change in benefit obligation:
Service cost	$ 134	$ 136	$ 46
Interest cost	1,706	2,886	2,595
Change in plan assets:
Fair value of plan assets at beginning of year	43,938
Fair value of plan assets at end of year	46,562	43,938
United States
Change in benefit obligation:
Net benefit obligation at beginning of year	55,101	102,679
Service cost	134	136
Interest cost	1,706	2,132
Actuarial loss/(gain)	7,257	5,149
Gross benefits paid	(2,835)	(2,932)
Net effect of remeasurement	0	(3,290)
Settlement	(2,920)	(48,773)
Net benefit obligation at end of year	58,443	55,101	102,679
Change in plan assets:
Fair value of plan assets at beginning of year	43,938	87,452
Actual return/(loss) on plan assets	6,430	6,987
Contributions	1,949	1,415
Gross benefits paid	(2,835)	(2,932)
Net effect of remeasurement	0	(211)
Settlement	(2,920)	(48,773)
Fair value of plan assets at end of year	$ 46,562	$ 43,938	$ 87,452

EMPLOYER SPONSORED BENEFIT PL_5

EMPLOYER SPONSORED BENEFIT PLANS - Accumulated Benefit Obligation in Excess of Plan Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 46,562	$ 43,938
Defined benefit plan, funded percentage	80.00%	80.00%
United States
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 46,562	$ 43,938	$ 87,452
Accumulated Benefit obligations	58,443	55,101	$ 102,679
Funded status of plans	$ (11,881)	$ (11,163)

EMPLOYER SPONSORED BENEFIT PL_6

EMPLOYER SPONSORED BENEFIT PLANS - Recorded Liabilities and Amounts Recognized in Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Amounts recognized in the Consolidated Balance Sheets consist of:
Noncurrent liabilities	$ 21,691	$ 18,957
United States
Amounts recognized in the Consolidated Balance Sheets consist of:
Current liabilities	0	787
Noncurrent liabilities	11,881	10,376
Total liabilities	11,881	11,163
Loss recognized in Accumulated Other Comprehensive Loss, net of tax, consist of:
Net actuarial loss	$ 4,503	$ 2,579

EMPLOYER SPONSORED BENEFIT PL_7

EMPLOYER SPONSORED BENEFIT PLANS - Foreign Pension Plans and Post-Retirement Benefit Plans (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plan Disclosure [Line Items]
Loss recognized in accumulated other comprehensive loss, net of tax	$ 2,528	$ (19,173)	$ 4,204
Foreign Plan
Defined Benefit Plan Disclosure [Line Items]
Net benefit obligation in excess of plan assets	5,981	5,274
Loss recognized in accumulated other comprehensive loss, net of tax	940	861
Postretirement Benefits | United States
Defined Benefit Plan Disclosure [Line Items]
Net benefit obligation in excess of plan assets	4,215	3,621
Loss recognized in accumulated other comprehensive loss, net of tax	$ 165	$ (360)

EMPLOYER SPONSORED BENEFIT PL_8

EMPLOYER SPONSORED BENEFIT PLANS - Components of Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Retirement Benefits [Abstract]
Service cost	$ 134	$ 136	$ 46
Interest cost	1,706	2,886	2,595
Expected return on plan assets	(2,119)	(2,601)	(3,339)
Amortization of actuarial net loss	2	464	1,024
Total net periodic (benefit) cost	(277)	885	326
Settlement loss	385	25,247	0
Total employer pension plan cost	$ 108	$ 26,132	$ 326

EMPLOYER SPONSORED BENEFIT PL_9

EMPLOYER SPONSORED BENEFIT PLANS - Assumptions Used in Determining the Year-End Benefit Obligation and Annual Net Cost (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Benefit Obligation
Discount rate (as a percent)	2.14%	3.37%
Expected return on plan assets (as a percent)	5.20%	5.06%
Net Cost
Discount rate (as a percent)	3.39%	3.88%	3.75%
Expected return on plan assets (as a percent)	5.20%	4.65%	5.79%

EMPLOYER SPONSORED BENEFIT P_10

EMPLOYER SPONSORED BENEFIT PLANS - Target Allocation and the Actual Allocation of Plan Assets (Details)	Dec. 31, 2020	Dec. 31, 2019
Domestic equities
Defined Benefit Plan Disclosure [Line Items]
Actual Allocation of Plan Assets (as a percent)	32.00%	38.00%
International equities
Defined Benefit Plan Disclosure [Line Items]
Actual Allocation of Plan Assets (as a percent)	27.00%	25.00%
Fixed income
Defined Benefit Plan Disclosure [Line Items]
Actual Allocation of Plan Assets (as a percent)	26.00%	18.00%
Real assets
Defined Benefit Plan Disclosure [Line Items]
Actual Allocation of Plan Assets (as a percent)	5.00%	7.00%
Hedge fund of funds
Defined Benefit Plan Disclosure [Line Items]
Actual Allocation of Plan Assets (as a percent)	9.00%	9.00%
Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Actual Allocation of Plan Assets (as a percent)	1.00%	3.00%
Minimum | Domestic equities
Defined Benefit Plan Disclosure [Line Items]
Target Allocation (as a percent)	20.00%
Minimum | International equities
Defined Benefit Plan Disclosure [Line Items]
Target Allocation (as a percent)	15.00%
Minimum | Fixed income
Defined Benefit Plan Disclosure [Line Items]
Target Allocation (as a percent)	20.00%
Minimum | Real assets
Defined Benefit Plan Disclosure [Line Items]
Target Allocation (as a percent)	0.00%
Minimum | Hedge fund of funds
Defined Benefit Plan Disclosure [Line Items]
Target Allocation (as a percent)	5.00%
Minimum | Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Target Allocation (as a percent)	0.00%
Maximum | Domestic equities
Defined Benefit Plan Disclosure [Line Items]
Target Allocation (as a percent)	40.00%
Maximum | International equities
Defined Benefit Plan Disclosure [Line Items]
Target Allocation (as a percent)	35.00%
Maximum | Fixed income
Defined Benefit Plan Disclosure [Line Items]
Target Allocation (as a percent)	45.00%
Maximum | Real assets
Defined Benefit Plan Disclosure [Line Items]
Target Allocation (as a percent)	10.00%
Maximum | Hedge fund of funds
Defined Benefit Plan Disclosure [Line Items]
Target Allocation (as a percent)	15.00%
Maximum | Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Target Allocation (as a percent)	10.00%

EMPLOYER SPONSORED BENEFIT P_11

EMPLOYER SPONSORED BENEFIT PLANS - Trust Assets at Fair Value (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Defined Benefit Plan Disclosure [Line Items]
Total Assets at Fair Value	$ 46,562	$ 43,938
Domestic equities
Defined Benefit Plan Disclosure [Line Items]
Total Assets at Fair Value	15,004	16,729
International equities
Defined Benefit Plan Disclosure [Line Items]
Total Assets at Fair Value	12,473	10,903
Fixed income
Defined Benefit Plan Disclosure [Line Items]
Total Assets at Fair Value	12,293	3,724
U.S. government securities
Defined Benefit Plan Disclosure [Line Items]
Total Assets at Fair Value		2,686
Corporate and foreign bonds
Defined Benefit Plan Disclosure [Line Items]
Total Assets at Fair Value		1,701
Real assets
Defined Benefit Plan Disclosure [Line Items]
Total Assets at Fair Value	2,219	3,010
Hedge fund of funds
Defined Benefit Plan Disclosure [Line Items]
Total Assets at Fair Value	4,280	4,009
Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Total Assets at Fair Value	293	1,176
Level 1
Defined Benefit Plan Disclosure [Line Items]
Total Assets at Fair Value	42,282	38,520
Level 1 | Domestic equities
Defined Benefit Plan Disclosure [Line Items]
Total Assets at Fair Value	15,004	16,729
Level 1 | International equities
Defined Benefit Plan Disclosure [Line Items]
Total Assets at Fair Value	12,473	10,903
Level 1 | Fixed income
Defined Benefit Plan Disclosure [Line Items]
Total Assets at Fair Value	12,293	3,724
Level 1 | U.S. government securities
Defined Benefit Plan Disclosure [Line Items]
Total Assets at Fair Value		0
Level 1 | Corporate and foreign bonds
Defined Benefit Plan Disclosure [Line Items]
Total Assets at Fair Value		0
Level 1 | Real assets
Defined Benefit Plan Disclosure [Line Items]
Total Assets at Fair Value	2,219	3,010
Level 1 | Hedge fund of funds
Defined Benefit Plan Disclosure [Line Items]
Total Assets at Fair Value	0	4,009
Level 1 | Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Total Assets at Fair Value	293	145
Level 2
Defined Benefit Plan Disclosure [Line Items]
Total Assets at Fair Value	0	5,418
Level 2 | Domestic equities
Defined Benefit Plan Disclosure [Line Items]
Total Assets at Fair Value	0	0
Level 2 | International equities
Defined Benefit Plan Disclosure [Line Items]
Total Assets at Fair Value	0	0
Level 2 | Fixed income
Defined Benefit Plan Disclosure [Line Items]
Total Assets at Fair Value	0	0
Level 2 | U.S. government securities
Defined Benefit Plan Disclosure [Line Items]
Total Assets at Fair Value		2,686
Level 2 | Corporate and foreign bonds
Defined Benefit Plan Disclosure [Line Items]
Total Assets at Fair Value		1,701
Level 2 | Real assets
Defined Benefit Plan Disclosure [Line Items]
Total Assets at Fair Value	0	0
Level 2 | Hedge fund of funds
Defined Benefit Plan Disclosure [Line Items]
Total Assets at Fair Value	0	0
Level 2 | Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Total Assets at Fair Value	0	1,031
Measured at NAV
Defined Benefit Plan Disclosure [Line Items]
Total Assets at Fair Value	4,280	0
Measured at NAV | Domestic equities
Defined Benefit Plan Disclosure [Line Items]
Total Assets at Fair Value	0	0
Measured at NAV | International equities
Defined Benefit Plan Disclosure [Line Items]
Total Assets at Fair Value	0	0
Measured at NAV | Fixed income
Defined Benefit Plan Disclosure [Line Items]
Total Assets at Fair Value	0	0
Measured at NAV | U.S. government securities
Defined Benefit Plan Disclosure [Line Items]
Total Assets at Fair Value		0
Measured at NAV | Corporate and foreign bonds
Defined Benefit Plan Disclosure [Line Items]
Total Assets at Fair Value		0
Measured at NAV | Real assets
Defined Benefit Plan Disclosure [Line Items]
Total Assets at Fair Value	0	0
Measured at NAV | Hedge fund of funds
Defined Benefit Plan Disclosure [Line Items]
Total Assets at Fair Value	4,280	0
Measured at NAV | Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Total Assets at Fair Value	$ 0	$ 0

EMPLOYER SPONSORED BENEFIT P_12

EMPLOYER SPONSORED BENEFIT PLANS - Estimated Future Benefit Payments (Details) $ in Thousands	Dec. 31, 2020USD ($)
Retirement Benefits [Abstract]
2021	$ 3,011
2022	3,054
2023	3,072
2024	3,132
2025	3,183
2026-2029	$ 15,867

EQUITY COMPENSATION PLANS - Nar

EQUITY COMPENSATION PLANS - Narrative (Details) - USD ($)	Apr. 27, 2012	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense		$ 3,500,000	$ 2,900,000	$ 2,100,000
Compensation costs capitalized as part of inventory		0	0	0
Tax benefit from compensation expense		500,000	200,000	1,300,000
Total intrinsic value for options exercised		800,000	400,000	1,400,000
Cash received from exercise of stock option		2,500,000	400,000	900,000
Intrinsic value of exercisable stock options		1,300,000
Intrinsic value of unvested stock options		$ 3,600,000
Stock repurchased during period (shares)		11,329
Aggregate purchase price of shares repurchased		$ 300,000
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Term of stock awards		10 years
Realized income tax benefit		$ 200,000	$ 100,000	$ 300,000
Total unrecognized compensation cost		$ 1,900,000
Weighted-average expected amortization period		2 years 6 months
Stock Options | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period of stock awards		3 years
Stock Options | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period of stock awards		4 years
Time-Based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation cost		$ 2,100,000
Weighted-average expected amortization period		1 year 9 months 18 days
Intrinsic value of unvested restricted shares		$ 5,300,000
Time-Based Restricted Stock Units | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period of stock awards		2 years
Time-Based Restricted Stock Units | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period of stock awards		3 years
Performance-Based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period of stock awards		3 years
Total unrecognized compensation cost		$ 1,600,000
Weighted-average expected amortization period		2 years 1 month 6 days
Intrinsic value of unvested restricted shares		$ 4,000,000
2012 Stock Repurchase Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share options and restricted shares authorized (shares)	3,000,000
Number of additional shares authorized (shares)	19,720

EQUITY COMPENSATION PLANS - Wei

EQUITY COMPENSATION PLANS - Weighted-Average Assumptions (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Risk-free interest rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input of stock options (as a percent)	0.010	0.017	0.027
Expected life
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Term of stock options	5 years 2 months 12 days	5 years 3 months 18 days	5 years 6 months
Expected volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input of stock options (as a percent)	0.43	0.37	0.34
Expected dividend yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input of stock options (as a percent)	0	0	0

EQUITY COMPENSATION PLANS - Sto

EQUITY COMPENSATION PLANS - Stock Option Activity (Details) - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Shares:
Outstanding at beginning of period (shares)	683	623	433
Granted (shares)	180	242	246
Exercised (shares)	(102)	(40)	(54)
Forfeited/Cancelled (shares)	(273)	(142)	(2)
Outstanding at end of period (shares)	488	683	623
Options exercisable at end of period (shares)	179	318	254
Unvested at end of period (shares)	309	365	369
Weighted-Average Exercise Price:
Outstanding at beginning of period (USD per share)	$ 27.15	$ 30.14	$ 33.37
Granted (USD per share)	17.37	19.35	21.49
Exercised (USD per share)	21.24	11.47	16.48
Forfeited/Cancelled (USD per share)	32.09	31.36	36.08
Outstanding at end of period (USD per share)	22.03	27.15	30.14
Options exercisable at end of period (USD per share)	27.35	33.01	29.36
Unvested at end of period (USD per share)	$ 18.94	$ 22.04	$ 30.68

EQUITY COMPENSATION PLANS - Unv

EQUITY COMPENSATION PLANS - Unvested Restricted Shares (Details) - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Time-Based Restricted Stock Units
Shares:
Nonvested at beginning of period (shares)	159	114	80
Granted (shares)	84	98	73
Vested (shares)	(37)	(23)	(31)
Forfeited/Cancelled (shares)	(29)	(30)	(8)
Nonvested at end of period (shares)	177	159	114
Weighted-Average Grant-Date Fair Value:
Nonvested at beginning of period (USD per share)	$ 24.33	$ 37.67	$ 48.65
Granted (USD per share)	17.92	20.99	26.52
Vested (USD per share)	31	56.45	36.45
Forfeited/Cancelled (USD per share)	23.09	39.58	50.56
Nonvested at end of period (USD per share)	$ 20.11	$ 24.33	$ 37.67
Performance-Based Restricted Stock Units
Shares:
Nonvested at beginning of period (shares)	129	190	139
Granted (shares)	70	60	99
Vested (shares)	0	0	(48)
Forfeited/Cancelled (shares)	(57)	(121)	0
Nonvested at end of period (shares)	142	129	190
Weighted-Average Grant-Date Fair Value:
Nonvested at beginning of period (USD per share)	$ 28.36	$ 36.63	$ 42.53
Granted (USD per share)	19.05	20.90	24.22
Vested (USD per share)	0	0	27.96
Forfeited/Cancelled (USD per share)	33.47	37.71	0
Nonvested at end of period (USD per share)	$ 21.67	$ 28.36	$ 36.63

EQUITY COMPENSATION PLANS - Val

EQUITY COMPENSATION PLANS - Valuation Assumptions of Restricted Shares (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Time-Based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compounded Risk-Free Interest Rate (as a percent)	0.90%	1.50%	2.70%
Lookback term	2 years 8 months 12 days	3 years 2 months 12 days	3 years 1 month 6 days
Historical volatility (as a percent)	51.00%	42.00%	35.00%
Expected dividend yield (as a percent)	0.00%	0.00%	0.00%
Performance-Based Restricted Stock Units | 75th Percentile or Higher
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting rate of award (as a percent)	150.00%
Performance-Based Restricted Stock Units | 50th Percentile
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting rate of award (as a percent)	100.00%
Performance-Based Restricted Stock Units | 25th Percentile
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting rate of award (as a percent)	50.00%
Performance-Based Restricted Stock Units | Below the 25th Percentile
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting rate of award (as a percent)	0.00%

RESTRUCTURING - Narrative (Deta

RESTRUCTURING - Narrative (Details) $ in Thousands	1 Months Ended	3 Months Ended				12 Months Ended			39 Months Ended
	Apr. 30, 2017USD ($)	Sep. 30, 2020USD ($)production_line	Jun. 30, 2020USD ($)facility	Mar. 31, 2020USD ($)	Dec. 31, 2019USD ($)facility	Dec. 31, 2020USD ($)facility	Dec. 31, 2019USD ($)facility	Dec. 31, 2018USD ($)	Mar. 31, 2020USD ($)
Restructuring Cost and Reserve [Line Items]
Non-cash restructuring expenditures						$ 5,800
Restructuring expenses						15,903	$ 767	$ 2,297
Impairment of long-lived assets			$ 12,438
Corporate
Restructuring Cost and Reserve [Line Items]
Restructuring expenses						400
Performance Materials
Restructuring Cost and Reserve [Line Items]
Impairment of long-lived assets			$ 12,438	$ 12,400			$ 1,200
Performance Materials | Operating Segments
Restructuring Cost and Reserve [Line Items]
Restructuring expenses						15,500
Performance Materials | Sealing and Advanced Solutions
Restructuring Cost and Reserve [Line Items]
Number of facilities operating | facility			4		5		5
Impairment of long-lived assets				$ 12,400	$ 1,200
Performance Materials | North America
Restructuring Cost and Reserve [Line Items]
Number of production lines closed | production_line		2
Restructuring expenses		$ 5,400
Performance Materials | Europe
Restructuring Cost and Reserve [Line Items]
Restructuring expenses						$ 10,500
Number of facilities closed | facility						2
Performance Materials | Minimum
Restructuring Cost and Reserve [Line Items]
Estimated pre-tax restructuring expense		19,000
Restructuring, expected costs resulting in future cash expenditures		13,200
Performance Materials | Minimum | Europe
Restructuring Cost and Reserve [Line Items]
Estimated pre-tax restructuring expense						$ 3,100
Performance Materials | Maximum
Restructuring Cost and Reserve [Line Items]
Estimated pre-tax restructuring expense		21,000
Restructuring, expected costs resulting in future cash expenditures		$ 15,200
Performance Materials | Maximum | Europe
Restructuring Cost and Reserve [Line Items]
Estimated pre-tax restructuring expense						5,100
Technical Nonwovens
Restructuring Cost and Reserve [Line Items]
Estimated pre-tax restructuring expense	$ 3,700
Restructuring, expected costs resulting in future cash expenditures	3,300
Total pre-tax expense incurred						15,903	$ 767	2,297	$ 18,967
Restructuring expenses							800	2,300
Impairment of long-lived assets			$ 0
Cash outflows for restructuring program	$ 3,800					$ 1,193	806
Technical Nonwovens | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring expenses							600	1,900
Technical Nonwovens | Selling, Product Development and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring expenses							200	400
Technical Nonwovens | Operating Segments
Restructuring Cost and Reserve [Line Items]
Restructuring expenses							$ 800	$ 2,300

RESTRUCTURING - Charges by Cost

RESTRUCTURING - Charges by Cost (Details) - Technical Nonwovens - USD ($) $ in Thousands	12 Months Ended			39 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Mar. 31, 2020
Restructuring Cost and Reserve [Line Items]
Total pre-tax expense incurred	$ 15,903	$ 767	$ 2,297	$ 18,967
Severance and Related Expenses
Restructuring Cost and Reserve [Line Items]
Total pre-tax expense incurred	10,097	145	606	10,848
Facility Exit and Asset Write-Off Expenses
Restructuring Cost and Reserve [Line Items]
Total pre-tax expense incurred	$ 5,806	$ 622	$ 1,691	$ 8,119

RESTRUCTURING - Accrued Liabili

RESTRUCTURING - Accrued Liability Balance by Cost Type (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Apr. 30, 2017	Dec. 31, 2020	Dec. 31, 2019
Restructuring Reserve [Roll Forward]
Balance at beginning of period		$ 108
Balance at end of period		9,431	$ 108
Technical Nonwovens
Restructuring Reserve [Roll Forward]
Balance at beginning of period		108	147
Pre-tax restructuring expenses, excluding asset write-off expenses		10,097	767
Cash paid	$ (3,800)	(1,193)	(806)
Currency translation adjustments		419
Balance at end of period		$ 9,431	$ 108

SEGMENT INFORMATION - Narrative

SEGMENT INFORMATION - Narrative (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Jun. 30, 2020USD ($)	Dec. 31, 2020USD ($)reportable_segment	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | reportable_segment		3
Asset impairment charges	$ 61,109	$ 61,109	$ 64,206	$ 0
Net sales		764,041	837,398	785,897
Sales Revenue | Customer Concentration Risk | Ford Motor Company
Segment Reporting Information [Line Items]
Net sales			$ 99,100	$ 116,100
Concentration risk (as a percent)			11.80%	14.80%
Performance Materials Segment
Segment Reporting Information [Line Items]
Asset impairment charges	$ 61,109
Performance Materials Segment | Operating Segments
Segment Reporting Information [Line Items]
Asset impairment charges		61,100	$ 64,200
Net sales		$ 264,645	$ 245,480	$ 169,217

SEGMENT INFORMATION - Net Sales

SEGMENT INFORMATION - Net Sales By Segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Net sales	$ 764,041	$ 837,398	$ 785,897
Operating Segments | Performance Materials Segment
Segment Reporting Information [Line Items]
Net sales	264,645	245,480	169,217
Operating Segments | Performance Materials Segment | Filtration Products
Segment Reporting Information [Line Items]
Net sales	119,969	93,314	93,089
Operating Segments | Performance Materials Segment | Sealing and Advanced Solutions Products
Segment Reporting Information [Line Items]
Net sales	144,676	152,166	76,128
Operating Segments | Technical Nonwovens Segment
Segment Reporting Information [Line Items]
Net sales	222,340	255,346	277,071
Operating Segments | Technical Nonwovens Segment | Industrial Filtration Products
Segment Reporting Information [Line Items]
Net sales	119,367	144,320	157,606
Operating Segments | Technical Nonwovens Segment | Advanced Materials
Segment Reporting Information [Line Items]
Net sales	102,973	111,026	119,465
Operating Segments | Thermal Acoustical Solutions Segment
Segment Reporting Information [Line Items]
Net sales	294,807	361,577	365,427
Operating Segments | Thermal Acoustical Solutions Segment | Parts
Segment Reporting Information [Line Items]
Net sales	272,414	326,436	328,057
Operating Segments | Thermal Acoustical Solutions Segment | Tooling
Segment Reporting Information [Line Items]
Net sales	22,393	35,141	37,370
Eliminations and Other
Segment Reporting Information [Line Items]
Net sales	$ (17,751)	$ (25,005)	$ (25,818)

SEGMENT INFORMATION - Classific

SEGMENT INFORMATION - Classification of Segments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Consolidated Operating (Loss) Income	$ (62,065)	$ (38,825)	$ 49,188
Total Assets	775,462	785,937	872,686
Capital Expenditures	33,368	36,433	29,630
Depreciation and Amortization	53,957	48,623	32,731
Operating Segments | Performance Materials Segment
Segment Reporting Information [Line Items]
Consolidated Operating (Loss) Income	(46,044)	(59,804)	13,139
Total Assets	265,107	325,164	414,211
Capital Expenditures	19,185	8,914	11,288
Depreciation and Amortization	29,110	25,118	9,006
Operating Segments | Technical Nonwovens Segment
Segment Reporting Information [Line Items]
Consolidated Operating (Loss) Income	18,599	22,895	21,323
Total Assets	245,094	242,787	242,007
Capital Expenditures	5,651	9,345	5,864
Depreciation and Amortization	11,460	12,702	13,877
Operating Segments | Thermal Acoustical Solutions Segment
Segment Reporting Information [Line Items]
Consolidated Operating (Loss) Income	(871)	23,590	38,085
Total Assets	215,562	199,218	201,509
Capital Expenditures	7,553	17,858	11,934
Depreciation and Amortization	12,704	10,168	9,190
Corporate
Segment Reporting Information [Line Items]
Consolidated Operating (Loss) Income	(33,749)	(25,506)	(23,359)
Total Assets	49,699	18,768	14,959
Capital Expenditures	979	316	544
Depreciation and Amortization	$ 683	$ 635	$ 658

SEGMENT INFORMATION - Net Sal_2

SEGMENT INFORMATION - Net Sales by Geographic Area (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Net Sales		$ 764,041	$ 837,398	$ 785,897
Long-Lived Assets		243,354	252,851	222,041
Impairment of goodwill and other long-lived assets	$ 61,109	61,109	64,206	0
Restructuring charges		15,903	767	2,297
Intangible assets amortization		20,800	21,500	9,300
Reduction-in-force severance expenses			1,900
Operating lease right-of-use assets		22,243	23,116
Increase (decrease) in AP capex		100	600	1,700
Accounting Standards Update 2016-02
Segment Reporting Information [Line Items]
Operating lease right-of-use assets			23,100
Thermal Acoustical Solutions Segment
Segment Reporting Information [Line Items]
Impairment of goodwill and other long-lived assets	0
Performance Materials Segment
Segment Reporting Information [Line Items]
Impairment of goodwill and other long-lived assets	61,109
Technical Nonwovens Segment
Segment Reporting Information [Line Items]
Impairment of goodwill and other long-lived assets	$ 0
Restructuring charges			800	2,300
Operating Segments | Thermal Acoustical Solutions Segment
Segment Reporting Information [Line Items]
Net Sales		294,807	361,577	365,427
Reduction-in-force severance expenses		500
Operating Segments | Performance Materials Segment
Segment Reporting Information [Line Items]
Net Sales		264,645	245,480	169,217
Intercompany sales		3,300	4,000	3,500
Impairment of goodwill and other long-lived assets		61,100	64,200
Restructuring charges		15,500
Intangible assets amortization		15,800	16,200	3,500
Purchase accounting adjustments related to inventory step-up				2,000
Operating Segments | Technical Nonwovens Segment
Segment Reporting Information [Line Items]
Net Sales		222,340	255,346	277,071
Intercompany sales		14,500	21,000	22,200
Restructuring charges			800	2,300
Intangible assets amortization		4,800	5,100	5,600
Corporate
Segment Reporting Information [Line Items]
Restructuring charges		400
CEO Transition Expenses			2,300
Strategic initiative expenses		3,100	1,500	3,600
United States
Segment Reporting Information [Line Items]
Net Sales		420,129	478,720	422,222
Long-Lived Assets		131,992	138,265	136,448
France
Segment Reporting Information [Line Items]
Net Sales		79,343	75,313	66,579
Long-Lived Assets		22,289	13,723	13,219
Germany
Segment Reporting Information [Line Items]
Net Sales		112,466	124,402	125,796
Long-Lived Assets		33,827	44,116	25,873
United Kingdom
Segment Reporting Information [Line Items]
Net Sales		22,144	26,556	27,156
Long-Lived Assets		5,598	5,981	4,844
Canada
Segment Reporting Information [Line Items]
Net Sales		74,347	76,535	87,622
Long-Lived Assets		31,293	29,667	25,614
China
Segment Reporting Information [Line Items]
Net Sales		48,586	54,036	54,198
Long-Lived Assets		16,597	17,888	11,958
Other
Segment Reporting Information [Line Items]
Net Sales		7,026	1,836	2,324
Long-Lived Assets		$ 1,758	$ 3,211	$ 4,085

INCOME TAXES - Components of Pr

INCOME TAXES - Components of Provision for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Current:
Federal	$ (6,551)	$ 3,505	$ 3,739
State	49	381	498
Foreign	4,124	4,479	3,788
Total current	(2,378)	8,365	8,025
Deferred:
Federal	(3,622)	(12,481)	2,646
State	(1,719)	(1,442)	380
Foreign	886	(858)	(2,598)
Total deferred	(4,455)	(14,781)	428
Provision (Benefit) for income taxes	$ (6,833)	$ (6,416)	$ 8,453

INCOME TAXES - Reconciliation o

INCOME TAXES - Reconciliation of the Difference between the Actual Provisions for Income Taxes (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Statutory federal income tax rate	21.00%	21.00%	21.00%
State income taxes, net of federal benefit	0.90%	2.70%	1.60%
Valuation allowances for deferred tax assets, including state	(3.70%)	(4.40%)	(1.30%)
Research and development credits	0.30%	0.70%	(1.30%)
Capitalized transaction costs	0.00%	0.00%	0.60%
Stock based compensation	(0.80%)	(0.10%)	(0.70%)
Goodwill Impairment	(12.30%)	(19.60%)	0.00%
Foreign income taxed at lower rates	0.00%	2.40%	(1.60%)
Reserves for uncertain tax positions	2.30%	0.30%	0.00%
Repatriation of foreign undistributed earnings	0.00%	0.00%	1.60%
CARES Act carryback benefit	1.40%	0.00%	0.00%
Pension plan settlement	0.00%	5.90%	0.00%
Other	(0.60%)	(0.60%)	(0.40%)
Effective income tax rate	8.50%	8.30%	19.50%

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended				12 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Jun. 30, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Taxes [Line Items]
Impairment of goodwill and other long-lived assets	$ 61,109				$ 61,109	$ 64,206	$ 0
Change in valuation allowance					3,000		$ 600
Tax benefit related to reclassification of stranded tax effects				$ 4,500	1,800
Net operating loss carrybacks realized due to the CARES Act					1,100
Goodwill impairment	$ 48,671	$ 48,700	$ 63,000		$ 48,671	$ 63,000
Effective tax rate for income from continuing operations (as a percent)					8.50%	8.30%	19.50%
Undistributed earnings of foreign subsidiaries					$ 3,700
Reasonably expected net unrecognized benefits may be recognized					100
Total amount of net unrecognized tax benefits that would affect the effective tax rate if recognized					1,700
Amount of unrecognized tax benefit, if recognized, would be offset					200
Income tax penalties and interest accrued related to unrecognized tax benefits			$ 200		100	$ 200
State
Income Taxes [Line Items]
Operating loss carryforward					4,000
State tax credit carry forwards that expire between 2019 and 2033					1,700
Foreign | China
Income Taxes [Line Items]
Operating loss carryforward					7,300
Foreign | Germany
Income Taxes [Line Items]
Operating loss carryforward					23,700
Foreign | Netherlands
Income Taxes [Line Items]
Operating loss carryforward					900
Foreign | France
Income Taxes [Line Items]
Operating loss carryforward					300
Foreign | India
Income Taxes [Line Items]
Operating loss carryforward					2,000
Maximum
Income Taxes [Line Items]
Estimated income tax expense (benefit) from repatriation tax					$ 500

INCOME TAXES - Net Current and

INCOME TAXES - Net Current and Net Long-Term Deferred Tax Assets and Liabilities by Tax Jurisdiction (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Deferred Tax Assets and Liabilities [Line Items]
Deferred tax assets	$ 1,260	$ 1,933
Deferred tax liabilities	27,174	34,561
Federal
Deferred Tax Assets and Liabilities [Line Items]
Deferred tax liabilities	21,464	26,992
State
Deferred Tax Assets and Liabilities [Line Items]
Deferred tax liabilities	1,027	2,902
Foreign
Deferred Tax Assets and Liabilities [Line Items]
Deferred tax assets	1,260	1,933
Deferred tax liabilities	$ 4,683	$ 4,667

INCOME TAXES - Components of De

INCOME TAXES - Components of Deferred Tax Asset and Liability (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Deferred tax assets:
Accounts receivable	$ 438	$ 377
Financial Hedging Instruments	2,774	1,491
Interest Expense Carryovers	0	2,371
Inventories	1,952	1,845
Net operating loss carryforwards	13,553	8,478
Operating lease	5,797	6,001
Other accrued liabilities	4,270	5,905
Pension	5,125	4,274
Tax Credits	1,498	2,015
Total deferred tax assets	35,407	32,757
Deferred tax liabilities:
Intangible assets	17,694	21,990
Right of use assets	5,797	6,001
Property, plant and equipment	24,844	28,177
Total deferred tax liabilities	48,335	56,168
Valuation allowance	12,986	9,217
Net deferred tax liabilities	$ (25,914)	$ (32,628)

INCOME TAXES - Income from Cont

INCOME TAXES - Income from Continuing Operations before Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
United States	$ (68,895)	$ (73,539)	$ 33,928
Foreign	(11,700)	(3,538)	9,337
Total (loss) income before income taxes	$ (80,595)	$ (77,077)	$ 43,265

INCOME TAXES - Reconciliation_2

INCOME TAXES - Reconciliation of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized tax benefits at beginning of year	$ 3,212	$ 3,563
Decreases relating to positions taken in prior periods	(31)	(36)
Decreases due to lapse of statute of limitations	(1,463)	(315)
Unrecognized tax benefits at end of year	$ 1,718	$ 3,212

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Narrative (Details) - USD ($)	3 Months Ended	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2020
Loss Contingencies [Line Items]
Asset retirement obligations				$ 800,000
Rochester, New Hampshire
Loss Contingencies [Line Items]
Environmental remediation expense	$ 300,000	$ 100,000	$ 200,000
Accrual for environmental liability, including revision (fully offset)				0
Hoosick Falls, New York
Loss Contingencies [Line Items]
Accrual for environmental liability, including revision (fully offset)				$ 0
Environmental Contamination | Rochester, New Hampshire
Loss Contingencies [Line Items]
Environmental remediation expense		200,000
Accrual for environmental liability, including revision (fully offset)		$ 0

(LOSS) EARNINGS PER SHARE - Rec

(LOSS) EARNINGS PER SHARE - Reconciliation of Weighted Average Shares used to Determine Basic and Diluted Earnings Per Share (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Earnings Per Share [Abstract]
Basic average common shares outstanding (shares)	17,379	17,271	17,204
Effect of dilutive options and restricted stock awards (shares)	0	0	126
Diluted average common shares outstanding (shares)	17,379	17,271	17,330

(LOSS) EARNINGS PER SHARE - Nar

(LOSS) EARNINGS PER SHARE - Narrative (Details) - shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Earnings Per Share [Abstract]
Dilutive stock options excluded from computation of diluted earnings per share (shares)	42,716	54,828
Stock excluded from computation of diluted earnings per share (shares)	705,450,000	573,920,000	455,515,000

CHANGES IN ACCUMULATED OTHER _3

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - Summary (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 318,420	$ 369,275	$ 353,396
Net gain (loss) on foreign currency translation	14,508	436	(16,237)
Ending balance	257,696	318,420	369,275
Total Accumulated Other Comprehensive (Loss) Income
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(25,979)	(42,685)	(20,148)
Ending balance	(18,342)	(25,979)	(42,685)
Foreign currency translation:
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(18,022)	(18,458)	(2,221)
Net gain (loss) on foreign currency translation	14,508	436	(16,237)
Other comprehensive income (loss), net of tax	14,508	436	(16,237)
Ending balance	(3,514)	(18,022)	(18,458)
Pension and other postretirement benefit plans:
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(3,080)	(22,253)	(18,049)
Net actuarial loss	(2,854)	(222)	(4,998)
Amounts reclassified from accumulated other comprehensive loss	326	19,395	794
Other comprehensive income (loss), net of tax	(2,528)	19,173	(4,204)
Ending balance	(5,608)	(3,080)	(22,253)
Unrealized loss on derivative instruments:
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(4,877)	(1,974)	122
Net loss on derivative instruments	(6,114)	(2,903)	(2,096)
Amounts reclassified from accumulated other comprehensive loss	1,771	0	0
Other comprehensive income (loss), net of tax	(4,343)	(2,903)	(2,096)
Ending balance	$ (9,220)	$ (4,877)	$ (1,974)

CHANGES IN ACCUMULATED OTHER _4

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		5 Months Ended	12 Months Ended
	Mar. 31, 2020	Jun. 30, 2019	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Tax benefits of actuarial gains (losses)				$ 0.9	$ 0.1	$ 1.5
Amortization of actuarial losses, net of tax	$ (0.3)	$ (19)	$ 0.4			0.8
Tax benefits of amortization of actuarial losses	$ 0.1	$ 11.5	$ 0.1			0.2
Tax benefits of unrealized losses on fair value of hedging activities				1.8	$ 0.9	$ 0.6
Tax related to de-designation of interest rate swap agreement				$ 0.5

Uncategorized Items - ldl-20201

Label	Element	Value
Accounting Standards Update [Extensible List]	us-gaap_AccountingStandardsUpdateExtensibleList	us-gaap:AccountingStandardsUpdate201409Member
Cumulative Effect, Period of Adoption, Adjustment [Member] | Retained Earnings [Member]
Stockholders' Equity Attributable to Parent	us-gaap_StockholdersEquity	$ (200,000)