Calgon Carbon 10-Q 3 Nov 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Oct. 24, 2016
Document and Entity Information
Entity Registrant Name	CALGON CARBON Corp
Entity Central Index Key	812,701
Document Type	10-Q
Document Period End Date	Sep. 30, 2016
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		50,634,369
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Net sales	$ 123,970	$ 132,976	$ 376,766	$ 404,131
Cost of products sold (excluding depreciation and amortization)	85,430	84,804	251,552	256,636
Depreciation and amortization	9,082	8,624	27,318	25,788
Selling, general and administrative expenses	18,929	20,713	63,895	62,813
Research and development expenses	1,236	1,867	4,074	4,841
Total costs and expenses	114,677	116,008	346,839	350,078
Income from operations	9,293	16,968	29,927	54,053
Interest income		6	35	51
Interest expense	(538)	(254)	(1,099)	(500)
Other income (expense) — net	(758)	890	(555)	(261)
Income before income tax provision	7,997	17,610	28,308	53,343
Income tax provision	1,612	5,504	8,569	17,596
Net income	6,385	12,106	19,739	35,747
Other comprehensive income (loss), net of tax (Note 8)
Foreign currency translation	(284)	(2,490)	(595)	(9,462)
Defined benefit pension plans	1,028	503	2,291	1,460
Derivatives	100	(559)	(689)	(677)
Total other comprehensive income (loss)	844	(2,546)	1,007	(8,679)
Total comprehensive income	$ 7,229	$ 9,560	$ 20,746	$ 27,068
Net income per common share
Basic (in dollars per share)	$ 0.13	$ 0.23	$ 0.39	$ 0.68
Diluted (in dollars per share)	0.13	0.23	0.39	0.67
Dividends per common share (in dollars per share)	$ 0.05	$ 0.05	$ 0.15	$ 0.15
Weighted average shares outstanding, in thousands
Basic (in shares)	50,246	51,891	50,260	52,217
Diluted (in shares)	50,984	52,634	51,004	53,045

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 57,234	$ 53,629
Receivables (net of allowance of $1,495 and $1,675)	85,739	96,674
Revenue recognized in excess of billings on uncompleted contracts	8,430	9,156
Inventories	114,416	110,364
Deferred income taxes - current	22,205	22,537
Other current assets	12,534	15,365
Total current assets	300,558	307,725
Property, plant and equipment, net	307,268	311,019
Intangibles, net	5,044	5,961
Goodwill	25,454	25,777
Deferred income taxes - long-term	2,678	2,816
Other assets	3,502	3,220
Total assets	644,504	656,518
Current liabilities:
Accounts payable and accrued liabilities	47,828	53,716
Billings in excess of revenue recognized on uncompleted contracts	3,919	3,581
Payroll and benefits payable	11,067	13,753
Accrued income taxes	1,211	2,091
Current portion of long-term debt	7,500	7,500
Total current liabilities	71,525	80,641
Long-term debt	94,794	103,941
Deferred income taxes - long-term	40,246	41,383
Accrued pension and other liabilities	36,161	36,562
Total liabilities	242,726	262,527
Commitments and contingencies (Note 11)
Stockholders' equity:
Common stock, $.01 par value, 100,000,000 shares authorized, 57,786,052 and 57,646,683 shares issued	578	576
Additional paid-in capital	184,981	181,713
Retained earnings	410,781	398,627
Treasury stock, at cost, 10,780,813 and 10,232,612 shares	(153,939)	(145,295)
Accumulated other comprehensive loss	(40,623)	(41,630)
Total stockholders' equity	401,778	393,991
Total liabilities and stockholders' equity	$ 644,504	$ 656,518

CONDENSED CONSOLIDATED BALANCE4

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
CONDENSED CONSOLIDATED BALANCE SHEETS
Receivables allowance (in dollars)	$ 1,495	$ 1,675
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	57,786,052	57,646,683
Treasury stock, shares	10,780,813	10,232,612

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Cash flows from operating activities
Net income	$ 19,739	$ 35,747
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	27,318	25,788
Employee benefit plan provisions	2,874	1,325
Stock-based compensation	3,124	2,875
Deferred income tax (benefit) expense	(1,308)	2,362
Changes in assets and liabilities — net of effects from foreign exchange:
Receivables	11,743	(5,915)
Inventories	(2,954)	(11,682)
Revenue in excess of billings on uncompleted contracts and other current assets	3,354	438
Accounts payable and other accrued liabilities	(10,069)	3,056
Pension contributions	(1,646)	(2,310)
Other items - net	(9)	1,349
Net cash provided by operating activities	52,166	53,033
Cash flows from investing activities
Proceeds from sale of assets	1,234
Capital expenditures	(23,355)	(49,226)
Net cash used in investing activities	(22,121)	(49,226)
Cash flows from financing activities
Japanese working capital loan borrowings — short-term		1,643
Japanese working capital loan repayments — short-term		(1,667)
Credit agreement borrowings — long-term	70,249	87,000
Credit agreement repayments — long-term	(76,108)	(55,500)
Repayment of term loan- long term	(4,001)
Treasury stock purchased	(8,644)	(23,482)
Common stock dividends paid	(7,585)	(7,872)
Proceeds from the exercise of stock options	268	944
Net cash (used in) provided by financing activities	(25,821)	1,066
Effect of exchange rate changes on cash and cash equivalents	(619)	(2,750)
Net increase in cash and cash equivalents	3,605	2,123
Cash and cash equivalents, beginning of period	53,629	53,133
Cash and cash equivalents, end of period	$ 57,234	$ 55,256

Basis of Presentation and Accou

Basis of Presentation and Accounting Policies	9 Months Ended
	Sep. 30, 2016
Basis of Presentation and Accounting Policies
Basis of Presentation and Accounting Policies	1. Basis of Presentation and Accounting Policies The condensed consolidated financial statements included herein are unaudited and have been prepared by Calgon Carbon Corporation and subsidiaries (the Company) pursuant to the rules and regulations of the Securities and Exchange Commission (SEC). Certain information and footnote disclosures normally included in audited annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to such rules and regulations. Management of the Company believes that the disclosures included herein are adequate to make the information presented not misleading when read in conjunction with the Company’s audited consolidated financial statements and the notes included therein for the year ended December 31, 2015, as filed with the SEC by the Company on Annual Report on Form 10-K. In management’s opinion, the condensed consolidated financial statements reflect all adjustments, which are of a normal and recurring nature, and which are necessary for a fair presentation, in all material respects, of financial results for the interim periods presented. Operating results for the first nine months of 2016 are not necessarily indicative of the results that may be expected for the year ending December 31, 2016. Certain prior year amounts have been reclassified to conform to the 2016 presentation. The restructuring reserve of $0.1 million reported as of December 31, 2015 has been reclassified to accounts payable and accrued liabilities. There have been no developments to recently issued accounting standards from those disclosed in the Company’s Annual Report on Form 10-K as filed with the SEC for the year ended December 31, 2015, except for the following. In February 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016-02, “Leases (Topic 842)” which introduces a lessee model that brings most leases on the balance sheet, requiring lessees to recognize the right to use assets and lease obligations that arise from lease arrangements exceeding a twelve month term. Lessees will also need to disclose qualitative and quantitative information about lease transactions, such as information about variable lease payments and options to renew and terminate leases. For income statement purposes, the FASB retained a dual model, requiring leases to be classified as either operating or finance. Classification will be based on criteria that are largely similar to those applied in current lease accounting, but without explicit bright lines. Lessor accounting is similar to the current model, but updated to align with certain changes to the lessee model and the new revenue recognition standard. The new guidance is effective for fiscal years beginning after December 15, 2018, and early application is permitted. Entities are required to use a modified retrospective transition for existing leases. The Company is evaluating the provisions of this ASU and assessing the impact it may have on the Company’s consolidated financial statements and related disclosures. In March 2016, the FASB issued ASU 2016-08, “Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net)” which amends the principal-versus agent implementation guidance and illustrations in FASB’s new revenue standard ASU 2014-09. The new guidance includes indicators to assist an entity in determining whether it controls a specified good or service before it is transferred to the customers. In April 2016, the FASB issued ASU 2016-10, “Identifying Performance Obligations and Licensing” which amends certain aspects of the guidance in ASU 2014-09. For identifying performance obligations, the amendments include: immaterial promised goods and services, shipping and handling activities, and identifying when promises represent performance obligations. In May 2016, the FASB issued ASU 2016-12, “Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients.” This clarifies the collectability assessment, sales tax presentation and the treatment of contract modifications and completed contracts at transition. In May 2016, the FASB issued ASU 2016-11, “Rescission of SEC Guidance Because of Accounting Standards Update 2014-09” which rescinds certain SEC guidance upon adoption including those related to freight services in process and shipping and handling fees. All of the new guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2017. Entities have the option of using either a full retrospective or a modified retrospective approach. The Company is evaluating the provisions of these ASUs and assessing the impact they may have on the Company’s consolidated financial statements and related disclosures. In March 2016, the FASB issued ASU 2016-09, “Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting” which simplifies several aspects of the accounting for employee share-based payment transactions, including the accounting for income taxes, forfeitures, and statutory tax withholding requirements, as well as classification in the statement of cash flows. The new guidance is effective for annual reporting periods beginning after December 15, 2016, including interim periods within those annual reporting periods. The Company is planning to adopt the provisions of this ASU using the modified retrospective transition method for existing share-based payment transactions, effective January 1, 2017. The Company does not expect a material financial impact relating to the adoption of this ASU. In June 2016, the FASB issued ASU 2016-13, “Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” which adds a Current Expected Credit Loss (CECL) model that is based on expected losses rather than incurred losses, which is applicable to trade receivables. The new guidance is effective for annual reporting periods beginning after December 15, 2019, including interim periods within those annual reporting periods. Entities are required to use the modified retrospective approach. The Company is evaluating the provisions of this ASU and assessing the impact it may have on the Company’s consolidated financial statements and related disclosures. In August 2016, the FASB issued ASU 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments” to add or clarify guidance on the classification of certain cash receipts and payments in the statement of cash flows. The new guidance is effective for annual reporting period beginning after December 15, 2017, including interim periods within those annual reporting periods. Entities must apply the guidance retrospectively to all periods presented, but may apply it prospectively from the earliest date practicable if retrospective application would be impracticable. The adoption of this ASU is not expected to have a material impact on the Company’s consolidated financial statements.

Inventories

Inventories	9 Months Ended
	Sep. 30, 2016
Inventories
Inventories	2. Inventories September 30, 2016 December 31, 2015 Raw materials $ $ Finished goods Total $ $ Inventories are recorded net of reserves of $2.9 million and $2.4 million for obsolete and slow-moving items as of September 30, 2016 and December 31, 2015, respectively.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2016
Fair Value Measurements
Fair Value Measurements	3. Fair Value Measurements Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value hierarchy distinguishes between (1) market participant assumptions developed based on market data obtained from independent sources (observable inputs) and (2) an entity’s own assumptions about market participant assumptions developed based on the best information available in the circumstances (unobservable inputs). The fair value hierarchy consists of three broad levels, which gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy are described below: · Level 1 — Quoted prices (unadjusted) in active markets for identical assets or liabilities; · Level 2 — Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and · Level 3 — Unobservable inputs that reflect the reporting entity’s own assumptions. The following financial instrument assets (liabilities) are presented below at carrying amount, fair value, and classification within the fair value hierarchy (refer to Notes 4 and 5 for details relating to derivative instruments and borrowing arrangements). The only financial instruments measured at fair value on a recurring basis are derivative instruments and the acquisition earn-out liability: Fair Value September 30, 2016 December 31, 2015 Hierarchy Carrying Fair Carrying Fair Level Amount Value Amount Value Cash and cash equivalents 1 $ $ $ $ Derivative assets 2 Derivative liabilities 2 Acquisition earn-out liability 2 Long-term debt, including current portion 2 Accounts receivable and accounts payable included in the condensed consolidated balance sheets approximate fair value and are excluded from the table above. The fair value of cash and cash equivalents are based on quoted prices. The fair value of derivative assets and liabilities are measured based on inputs from market sources that aggregate data based upon market transactions. Fair value for the acquisition earn-out liability is based upon Level 2 inputs which are periodically re-evaluated for changes in future projections and the discount rate. This liability is recorded in accrued pension and other liabilities within the Company’s condensed consolidated balance sheets. The Company’s debt bears interest based on market rates and, accordingly, the carrying value of this obligation approximates fair value.

Derivative Instruments

Derivative Instruments	9 Months Ended
	Sep. 30, 2016
Derivative Instruments
Derivative Instruments	4. Derivative Instruments The Company uses foreign currency forward exchange contracts and foreign exchange option contracts to limit the exposure of exchange rate fluctuations on certain foreign currency receivables, payables, and other known and forecasted transactional exposures for periods consistent with the expected cash flow of the underlying transactions. Management’s policy for managing foreign currency risk is to use derivatives to hedge up to 75% of the value of the forecasted exposure. The foreign currency forward exchange and foreign exchange option contracts generally mature within eighteen months and are designed to limit exposure to exchange rate fluctuations. The Company also uses natural gas forward contracts to limit the exposure to changes in natural gas prices. Management’s policy for managing natural gas exposure is to use derivatives to hedge up to 75% of the forecasted natural gas requirements that are not fixed. The natural gas forward contracts generally mature within twenty-four months. The Company accounts for its derivative instruments under Accounting Standards Codification (ASC) 815 “Derivatives and Hedging.” Hedge effectiveness is measured on a quarterly basis and any portion of ineffectiveness as well as hedge components excluded from the assessment of effectiveness, are recorded directly to current earnings, in other expense - net. The fair value of outstanding derivative contracts in the condensed consolidated balance sheets was as follows: Asset Derivatives Balance Sheet Locations September 30, 2016 December 31, 2015 Derivatives designated as hedging instruments: Foreign exchange contracts Other current assets $ $ Natural gas contracts Other current assets — Foreign exchange contracts Other assets — Natural gas contracts Other assets — Derivatives not designated as hedging instruments: Foreign exchange contracts Other current assets Total asset derivatives $ $ Liability Derivatives Balance Sheet Locations September 30, 2016 December 31, 2015 Derivatives designated as hedging instruments: Foreign exchange contracts Accounts payable and accrued liabilities $ $ Natural gas contracts Accounts payable and accrued liabilities Foreign exchange contracts Accrued pension and other liabilities Natural gas contracts Accrued pension and other liabilities Derivatives not designated as hedging instruments: Foreign exchange contracts Accounts payable and accrued liabilities Total liability derivatives $ $ The Company had the following outstanding derivative contracts that were entered into to hedge forecasted transactions: (in thousands except for mmbtu) September 30, 2016 December 31, 2015 Natural gas contracts (mmbtu) Foreign exchange contracts $ $ The use of derivatives exposes the Company to the risk that a counterparty may default on a derivative contract. The Company enters into derivative financial instruments with high credit quality counterparties and diversifies its positions among such counterparties. The aggregate fair value of the Company’s derivative instruments in asset positions represents the maximum loss that the Company would recognize at that date if all counterparties failed to perform as contracted. The Company has entered into various master netting arrangements with counterparties to facilitate settlement of gains and losses on these contracts. These arrangements may allow for netting of exposures in the event of default or termination of the counterparty agreement due to breach of contract. The Company does not net its derivative positions by counterparty for purposes of balance sheet presentation and disclosure. September 30, 2016 December 31, 2015 Fair Value Fair Value Fair Value Fair Value of Assets of Liabilities of Assets of Liabilities Gross derivative amounts recognized in the balance sheet $ $ $ $ Gross derivative amounts not offset in the balance sheet that are eligible for offsetting Net amount $ $ $ $ Derivatives in Cash Flow Hedging Relationships For derivative instruments that are designated and qualify as cash flow hedges, the effective portion of the gain or loss on the derivative is reported as a component of other comprehensive income (loss) (OCI) and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. The location of the gain or (loss) reclassified into earnings (effective portion) for derivatives in cash flow hedging relationships is cost of products sold (excluding depreciation and amortization). Amount of Gain or (Loss) Recognized in OCI on Derivatives (Effective Portion) Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Foreign exchange contracts $ $ $ $ Natural gas contracts Total $ $ $ $ Amount of Gain or (Loss) Recognized from Accumulated OCI into Earnings (Effective Portion) (1) Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Foreign exchange contracts $ $ $ $ Natural gas contracts Total $ $ $ $ (1) Assuming market rates remain constant with the rates as of September 30, 2016, a loss of $0.9 million is expected to be recognized in earnings over the next 12 months. During the three and nine month periods ended September 30, 2016 and 2015, there was no gain or (loss) recognized in earnings on derivatives related to the ineffective portion and the amount excluded from effectiveness testing, which would have been recorded in other expense – net. Derivatives Not Designated as Hedging Instruments The Company has also entered into certain derivatives to minimize its exposure of exchange rate fluctuations on certain foreign currency receivables, payables, and other known and forecasted transactional exposures. The Company has not qualified these contracts for hedge accounting treatment and therefore, the fair value gains and losses on these contracts are recorded in earnings, in other expense - net as follows: Amount of Gain or (Loss) Recognized in Earnings on Derivatives Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Foreign exchange contracts $ $ $ $ Total $ $ $ $

Borrowing Arrangements

Borrowing Arrangements	9 Months Ended
	Sep. 30, 2016
Borrowing Arrangements
Borrowing Arrangements	5. Borrowing Arrangements Long-Term Debt September 30, 2016 December 31, 2015 U.S. Credit Agreement Borrowings $ $ Japanese Credit Agreement Borrowings — Japanese Term Loan Borrowings — Total Long-Term Debt Less Current Portion of Long-Term Debt Net Long-Term Debt $ $ U.S. Amended Credit Agreement On October 4, 2016, the Company entered into the First Amended and Restated Credit Agreement (Amended Credit Agreement) which amended the Company’s existing U.S. Credit Agreement (Credit Agreement) described below. The Amended Credit Agreement increases the Company’s total borrowing capacity to $400 million, comprised of a $300 million revolving credit facility (Amended Revolver) and a $100 million term loan facility (Term Loan). The Amended Credit Agreement extends the term of the Amended Revolver to October 4, 2021 and the maturity date of the Term Loan to October 4, 2023. The Amended Revolver contains a $75 million sublimit for the issuance of letters of credit, and a $15 million sublimit for swing loans. The Company also has the option to increase the Amended Revolver by a maximum of $100 million with the consent of the Lenders. Availability under the Amended Credit Agreement was conditioned upon various customary conditions. Certain domestic subsidiaries of the Company unconditionally guarantee all indebtedness and obligations related to borrowings under the Amended Credit Agreement. The Company’s obligations under the Amended Credit Agreement are unsecured. The interest rate options under the Amended Revolver and Term Loans are the same as under the Company’s Credit Agreement described below. In addition, the affirmative and negative covenants under the Amended Credit Agreement are also very similar, as are the events of default and the resulting consequences. The Amended Credit Agreement also contains the same dividend restriction, as well as the minimum interest coverage ratio and maximum leverage ratio financial ratio requirements. The Company borrowed the full $100 million under the Term Loan on October 4, 2016 and repaid all amounts owed under the Credit Agreement. Beginning January 1, 2017, the Company will be required to make quarterly repayments under the Term Loan equal to 1.25% of the outstanding balance until January 1, 2019, at which time the quarterly repayments will increase to 2.0% until the remaining balance is due on the October 4, 2023 maturity date. Refer to Note 15 for further information on subsequent borrowings under the Amended Credit Agreement. U.S. Credit Agreement On November 6, 2013, the Company entered into the U.S. Credit Agreement (Credit Agreement) which provided for a senior unsecured revolving credit facility (Revolver) in an amount up to $225.0 million. As a result of amendments, the expiration date of the Revolver was November 6, 2020. A portion of the Revolver not in excess of $75.0 million was available for standby or letters of credit for trade, $15.0 million was available for swing loans, and $50.0 million was available for loans or letters of credit in certain foreign denominated currencies. The Company also had the option to increase the Revolver in an amount not to exceed $75.0 million with the consent of the Lenders. Availability under the Revolver was conditioned upon various customary conditions. In April 2016, an amendment was signed to the Credit Agreement that increased the threshold for a “Permitted Acquisition.” Refer to Note 15 for further information. The Credit Agreement also provided for senior unsecured delayed draw term loans (Delayed Draw Term Loans) in an aggregate amount up to $75.0 million which were scheduled to expire on November 6, 2020. The full amount of the Delayed Draw Term Loans was outstanding as of December 31, 2015. Beginning January 1, 2016, the Company began making quarterly repayments. As a result, $7.5 million is shown as the current portion of long-term debt within the condensed consolidated balance sheet as equal quarterly repayments were scheduled to continue until the remaining balance was due on the November 6, 2020 expiration date. Upon entering into the Credit Agreement, the Company incurred issuance costs of $0.8 million which were deferred and were being amortized over the term of the Revolver and Delayed Draw Term Loan facilities. A quarterly nonrefundable commitment fee was payable by the Company based on the unused availability under the Revolver and was equal to 0.18%. The interest rate on amounts owed under the Revolver and Delayed Draw Term Loans was, at the Company’s option, either (i) a fluctuating Base Rate or (ii) an adjusted LIBOR rate plus in each case, an applicable margin based on the Company’s leverage ratio as set forth in the Credit Agreement. The interest rate charged on amounts owed under swing loans was either (i) a fluctuating Base Rate or (ii) such other interest rates as the lender and the Company may agree to from time to time. The interest rate per annum on outstanding borrowings ranged from 1.77% to 1.93% as of September 30, 2016, and 1.20% to 1.35% as of September 30, 2015. Total outstanding borrowings under the Revolver were $27.0 million and $32.7 million as of September 30, 2016 and December 31, 2015, respectively. Total availability under the Revolver as of September 30, 2016 and December 31, 2015 was $195.4 million and $189.9 million, respectively, after considering borrowings and the outstanding letters of credit of $2.6 million and $2.4 million as of September 30, 2016 and December 31, 2015, respectively. Total outstanding borrowings under the Delayed Draw Term Loans were $69.4 million and $75.0 million as of September 30, 2016 and December 31, 2015, respectively. There was no remaining availability under the Delayed Draw Term Loans. The outstanding borrowings are shown as current portion of long-term debt and long-term debt within the condensed consolidated balance sheets, and borrowings and repayments are presented on a gross basis within the Company’s condensed consolidated statements of cash flows. Certain domestic subsidiaries of the Company unconditionally guaranteed all indebtedness and obligations related to borrowings under the Credit Agreement. The Company’s obligations under the Credit Agreement were unsecured. The Credit Agreement contained customary affirmative and negative covenants for credit facilities of this type. The Company was permitted to pay dividends so long as the sum of availability under the Credit Agreement and the amount of U.S. cash on hand was at least $50.0 million, and debt was less than or equal to 2.75x earnings before interest, taxes, depreciation and amortization. In addition, the Credit Agreement included limitations on the Company and its subsidiaries with respect to indebtedness, additional liens, disposition of assets or subsidiaries, and transactions with affiliates. The Company had to comply with certain financial covenants including a minimum interest coverage ratio and a maximum leverage ratio as defined within the Credit Agreement. The Company was in compliance with all such covenants as of September 30, 2016. The Credit Agreement also provided for customary events of default, including failure to pay principal or interest when due, breach of representations and warranties, certain insolvency or receivership events affecting the Company and its subsidiaries and a change in control of the Company. If an event of default occurred, the lenders would be under no further obligation to make loans or issue letters of credit. Upon the occurrence of certain events of default, all outstanding obligations of the Company automatically would become immediately due and payable, and other events of default would allow the agent to declare all or any portion of the outstanding obligations of the Company to be immediately due and payable. Japanese Credit Agreement On March 24, 2016, Calgon Carbon Japan (CCJ) entered into a 2.0 billion Japanese Yen unsecured revolving loan facility agreement (Japanese Credit Agreement) which expires on March 24, 2019. The Japanese Credit Agreement replaced the Term Loan Agreement (Japanese Term Loan) and Working Capital Loan (Japanese Working Capital Loan) agreement that CCJ previously had in place which are described below. As of September 30, 2016, CCJ had 600 million Japanese Yen, or $5.9 million outstanding. The outstanding borrowings are shown as long-term debt within the condensed consolidated balance sheets, and borrowings and repayments are presented on a gross basis within the Company’s condensed consolidated statements of cash flows. A quarterly nonrefundable commitment fee is payable by CCJ based on the unused availability under the Japanese Credit Agreement and is equal to 0.18%. Total availability under the Japanese Credit Agreement was 1.4 billion Japanese Yen as of September 30, 2016. The Japanese Credit Agreement bears interest based on the Tokyo Interbank Offered Rate of interest (TIBOR), plus an applicable margin based on the Company’s leverage ratio as defined in the U.S. Credit Agreement, which averaged 1.31% per annum as of September 30, 2016. The Company is jointly and severally liable as the guarantor of CCJ’s obligations under the Japanese Credit Agreement. CCJ may make voluntary prepayments of principal and interest after providing prior written notice and before the full amount then outstanding is due and payable on the March 24, 2019 expiration date. Prior Japanese Loans Prior to March 31, 2016, CCJ maintained a Japanese Term Loan and a Japanese Working Capital Loan. These agreements were terminated on March 31, 2016 and replaced by the Japanese Credit Agreement described above. The Company was jointly and severally liable as the guarantor of CCJ’s obligations and the Company permitted CCJ to grant a security interest and continuing lien in certain of its assets, including inventory and accounts receivable, to secure its obligations under both loan agreements. The amount of the assets available to be pledged was in excess of the outstanding obligation as of December 31, 2015. The Japanese Term Loan provided for a principal amount of 1.0 billion Japanese Yen and bore interest based on the Uncollateralized Overnight Call Rate plus an applicable margin which averaged 0.7% per annum as of December 31, 2015. This loan was originally scheduled to mature on May 10, 2017. As of December 31, 2015, CCJ had 450 million Japanese Yen or $3.7 million outstanding. The outstanding borrowings were shown as long-term debt within the condensed consolidated balance sheets, and borrowings and repayments were presented on a gross basis within the Company’s condensed consolidated statements of cash flows. The Japanese Working Capital Loan provided for borrowings up to 1.5 billion Japanese Yen, and bore interest based on the Short-term Prime Rate. This loan was scheduled to mature on March 31, 2016. Borrowings and repayments under the Japanese Working Capital Loan generally occurred in short term intervals, as needed, in order to ensure adequate liquidity while minimizing outstanding borrowings. As of December 31, 2015, CCJ had no outstanding borrowings under this facility. Chinese Credit Facility The Company maintained an Uncommitted Revolving Loan Facility Letter (Facility Letter) which provided for an uncommitted line of credit totaling 5.0 million Renminbi (RMB) or $0.8 million. This Facility Letter was scheduled to expire on July 19, 2016, but was canceled in April 2016. The Company was jointly and severally liable as the guarantor under the Facility Letter. There were no outstanding borrowings under this facility as of December 31, 2015. Belgian Credit Facility The Company maintains an unsecured Belgian credit facility totaling 2.0 million Euros. There are no financial covenants and the Company had no outstanding borrowings under the Belgian credit facility as of either September 30, 2016 or December 31, 2015. Bank guarantees of 1.1 million Euros and 0.9 million Euros were issued as of September 30, 2016 and December 31, 2015, respectively. United Kingdom Credit Facility The Company maintains a United Kingdom credit facility for the issuance of various letters of credit and guarantees totaling 0.6 million British Pounds Sterling. Bank guarantees of 0.4 million British Pounds Sterling were issued as of both September 30, 2016 and December 31, 2015.

Pensions

Pensions	9 Months Ended
	Sep. 30, 2016
Employee Benefit Plans
Employee Benefit Plans	6. Pensions U.S. Plans For the U.S. plans, the following table provides the components of net periodic pension costs of the plans for the periods ended September 30, 2016 and 2015: Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Service cost $ $ $ $ Interest cost Expected return on assets Amortization of prior service cost — — Net actuarial loss amortization Settlement Net periodic pension cost $ $ $ $ The Company incurred settlement charges in 2016 and in 2015 as a result of lump sum payments elected by retiring employees. The Company may incur additional settlement charges in the fourth quarter, however, the amount is not yet estimable. During the nine month period ended September 30, 2016, the Company made a $0.6 million discretionary contribution to the U.S. plans. European Plans For the European plans, the following table provides the components of net periodic pension costs of the plans for the periods ended September 30, 2016 and 2015: Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Service cost $ $ $ $ Interest cost Expected return on assets Net actuarial loss amortization Net periodic pension cost $ $ $ $ Multi-Employer Plan In addition to the aforementioned European plans, the Company participates in a multi-employer plan in Europe. This multi-employer plan almost entirely relates to former employees of operations the Company had divested. Benefits are distributed by the multi-employer plan. As of September 30, 2016 and December 31, 2015, respectively, the Company had a $1.1 million and $0.9 million liability recorded as a component of payroll and benefits payable within its condensed consolidated balance sheets. Refer to Note 11 for further information related to this multi-employer plan.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2016
Stockholders' Equity
Stockholders' Equity	7. Stockholders’ Equity Dividends on common stock of $0.05 per share were declared and paid in the first, second and third quarters of 2016 and 2015. In addition, in November 2016, the Company’s Board of Directors declared a dividend on common stock of $0.05 per share. In December 2013, the Company’s Board of Directors approved a share repurchase program with a total of $150 million of purchases authorized. During the nine months ended September 30, 2016 and September 30, 2015, the Company repurchased 518,576 and 1,263,791 shares, respectively, at an average price of $15.81 per share and $18.04 per share, respectively. As of September 30, 2016, the Company had repurchased a total of 4,598,661 shares at an average price of $18.67 per share under this program. All of the above mentioned repurchases were funded from operating cash flows, cash on hand, and borrowings and the shares are held as treasury stock. Subsequent to these repurchases, the Company’s remaining authorization to repurchase its common stock is approximately $64.1 million. In April 2016, the Company suspended the activities of the share repurchase program.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	9 Months Ended
	Sep. 30, 2016
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss)	8. Accumulated Other Comprehensive Income (Loss) The changes in the components of accumulated other comprehensive income (loss), net of tax, are as follows: Total Foreign Defined Accumulated Currency Benefit Other Translation Pension Plan Comprehensive Adjustments Adjustments Derivatives Income (Loss) Balance as of December 31, 2015, net of tax $ $ $ $ Other comprehensive income (loss) before reclassifications Amounts reclassified from other comprehensive income (loss) — Net current period other comprehensive income (loss) Balance as of September 30, 2016, net of tax $ $ $ $ Total Foreign Defined Accumulated Currency Benefit Other Translation Pension Plan Comprehensive Adjustments Adjustments Derivatives Income (Loss) Balance as of December 31, 2014, net of tax $ $ $ $ Other comprehensive income (loss) before reclassifications Amounts reclassified from other comprehensive income (loss) — Net current period other comprehensive income (loss) Balance as of September 30, 2015, net of tax $ $ $ $ Amount Reclassified from Details about Accumulated Accumulated Other Comprehensive Income (Loss) (1) Affected Line Item in the Other Comprehensive Three Months Ended September 30, Nine Months Ended September 30, Statement where Income (Loss) Components 2016 2015 2016 2015 Net Income is Presented Defined Benefit Pension Plan Adjustments: Prior-service costs $ — $ $ — $ (2) Actuarial losses (2) Total before tax Tax benefit $ $ $ $ Net of tax Derivatives: Foreign exchange contracts $ $ $ $ Cost of products sold (excluding depreciation and amortization) Natural gas contracts Cost of products sold (excluding depreciation and amortization) Total before tax Tax benefit (expense) $ $ $ $ Net of tax Total reclassifications for the period $ $ $ $ Net of tax (1) Amounts in parentheses indicate debits to income/loss. (2) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension cost. Foreign currency translation adjustments exclude income tax for the earnings of the Company’s non-U.S. subsidiaries as management believes these earnings will be reinvested for an indefinite period of time. Determination of the amount of unrecognized deferred U.S. income tax liability on these unremitted earnings is not practicable. The income tax benefit associated with ASC 715 “Compensation – Retirement Benefits” included in accumulated other comprehensive loss was $15.8 million and $17.1 million as of September 30, 2016 and December 31, 2015, respectively. The income tax benefit associated with the Company’s derivatives included in accumulated other comprehensive income (loss) was $0.4 million and $0.1 million as of September 30, 2016 and December 31, 2015, respectively. The following table contains the components of income tax expense (benefit) included in other comprehensive income (loss): Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Defined benefit pension plan $ $ $ $ Derivatives

Basic and Diluted Net Income Pe

Basic and Diluted Net Income Per Common Share	9 Months Ended
	Sep. 30, 2016
Basic and Diluted Net Income Per Common Share
Basic and Diluted Net Income Per Common Share	9. Basic and Diluted Net Income Per Common Share Computation of basic and diluted net income per common share is performed as follows: Three Months Ended September 30, Nine Months Ended September 30, (In thousands, except per share amounts) 2016 2015 2016 2015 Net income available to common stockholders $ $ $ $ Weighted Average Shares Outstanding Basic Effect of Dilutive Securities Diluted Basic net income per common share $ $ $ $ Diluted net income per common share $ $ $ $ For the three and nine months ended September 30, 2016 and 2015, there were 1.3 million shares and 0.8 million shares of stock based compensation awards, respectively, that were excluded from the dilutive calculations as the effect would have been antidilutive.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2016
Income Taxes
Income Taxes	10. Income Taxes The effective tax rate for the three months ended September 30, 2016 was 20.2% compared to 31.3% for the same period in 2015. The tax rates for the three months ended September 30, 2016 and 2015 were lower than the U.S. federal statutory rate of 35% primarily due to the mix of earnings in taxing jurisdictions where the tax rate is lower than the U.S. rate and favorable permanent differences related to discrete return to provision items. The effective tax rate for the nine months ended September 30, 2016 was 30.3% compared to 33.0% for the nine months ended September 30, 2015. The tax rates for the nine months ended September 30, 2016 and 2015 were lower than the U.S. federal statutory rate of 35% primarily due to the mix of earnings in taxing jurisdictions where the tax rate is lower than the U.S. rate and permanent differences related to discrete return to provision items. The decrease in the effective rates for the three month and year to date periods ended September 30, 2016 as compared to the 2015 comparable periods primarily relates to discrete provision to return adjustments related to the filing of the U.S. tax return and changes in the mix of earnings in taxing jurisdictions where the tax rate is lower than the U.S. rate.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2016
Commitments and Contingencies
Commitments and Contingencies	11. Commitments and Contingencies Waterlink In conjunction with the February 2004 purchase of substantially all of Waterlink Inc.’s (Waterlink) operating assets and the stock of Waterlink’s U.K. subsidiary, environmental studies were performed on Waterlink’s Columbus, Ohio property by environmental consulting firms that provided an identification and characterization of certain areas of contamination. In addition, these firms identified alternative methods of remediating the property and prepared cost evaluations of the various alternatives. The Company concluded from the information in the studies that a loss at this property was probable and recorded the liability. As of both September 30, 2016 and December 31, 2015, the balance recorded was $0.3 million as a component of accrued pension and other liabilities. The Company has determined that there has been insufficient progress to complete the remediation project by the end of 2016. The Company has further determined that additional site characterization work is needed to establish the next steps. No estimates regarding the timing or potential cost of these activities can be made until the additional site characterization work is finished. Planning for the additional characterization work has begun. Implementation timing will depend on acceptance by the Ohio Voluntary Action Program administrators. Liability estimates are based on an evaluation of, among other factors, currently available facts, existing technology, presently enacted laws and regulations, and the experience of experts in groundwater remediation. It is possible that a further change in the estimate of this obligation will occur as remediation progresses. Carbon Imports General Anti-Dumping Background: In March 2006, the Company and another U.S. producer of activated carbon (collectively, the “Petitioners”) requested that the U.S. Department of Commerce (Commerce Department) investigate unfair pricing of certain thermally activated carbon imported from the People’s Republic of China (China). In 2007, the Commerce Department found that imports of the subject merchandise from China were being unfairly priced (or “dumped”). Following a finding by the U.S. International Trade Commission (ITC) that the domestic industry was injured by unfairly traded imports of activated carbon from China, the Commerce Department issued an anti-dumping order imposing tariffs on Chinese imports to offset the amount of the unfair pricing. The Commerce Department published the antidumping order in the Federal Register in April 2007, and all imports from China remain subject to it. Importers of subject activated carbon from China are required to make cash deposits of estimated anti-dumping duties at the time the goods are entered into the U.S. customs territory. Final assessment of duties and duty deposits are subject to revision based on annual retrospective reviews conducted by the Commerce Department. The Company is a domestic producer, exporter from China (through its wholly-owned subsidiary Calgon Carbon (Tianjin) Co., Ltd. (Calgon Carbon Tianjin)), and a U.S. importer of the activated carbon that is subject to the anti-dumping order. As such, the Company’s involvement in the Commerce Department’s proceedings is both as a domestic producer (a “petitioner”) and as a foreign exporter (a “respondent”). The Company’s role as an importer, which has in the past (and may in the future) required it to pay anti-dumping duties, results in a contingent liability related to the final amount of tariffs that are ultimately assessed on the imported product following the Commerce Department’s annual review of relevant shipments and calculation of the anti-dumping duties due. As a result of proceedings before the Commerce Department that concluded in September 2016, the Company is currently required to post a duty of $0.616 per pound when importing activated carbon from Calgon Carbon Tianjin into the U.S. The impact of the tariffs to the Company’s financial results was not material for the nine months ended September 30, 2016, and 2015, respectively. However, the Company’s ultimate assessment rate and future cash deposit rate on such imports could change in the future, as a result of on-going proceedings before the Commerce Department. As part of its standard process, the Commerce Department conducts annual reviews of sales made to the first unaffiliated U.S. customer, typically over the prior 12-month period. These reviews will be conducted for at least five years subsequent to a determination by the ITC in February 2013, finding that the anti-dumping duty order should remain in effect. These reviews can result in changes to the anti-dumping tariff rate (either increasing or reducing the rate) applicable to any foreign exporter. Revision of tariff rates has two effects. First, it will alter the actual amount of tariffs that U.S. Customs and Border Protection (Customs) will collect for the period reviewed, by either collecting additional duties, plus interest above those deposited with Customs by the U.S. importer at the time of entry or refunding a portion of the duties, plus interest deposited at the time of importation to reflect a decline in the margin of dumping. Second, the revised rate becomes the cash deposit rate applied to future entries, and can either increase or decrease the amount of duty deposits an importer will be required to post at the time of importation. There have been nine periods of review since the anti-dumping order was published in 2007. Periods of Review (POR) I, II, IV and V, related to the periods that ended on March 31, 2008, 2009, 2011 and 2012, respectively, are final and not subject to further review or appeal. A summary of the proceedings in the remaining PORs follows below. Period of Review III: On October 31, 2011, the Commerce Department published the final results of its third annual administrative review, which covers imports that entered the U.S. between April 1, 2009 and March 31, 2010 (POR III). Based on the POR III results, the Company’s ongoing duty deposit rate was adjusted to zero. The Company recorded a receivable of $1.1 million reflecting expected refunds for duty deposits made during POR III as a result of the announced decrease in the POR III assessment rate. The Commerce Department continued to assign cooperative respondents involved in POR III a deposit rate of $0.127 per pound. In early December 2011, several separate rate respondents appealed the Commerce Department’s final results of POR III. Following the submission of briefs by the parties, the Court of International Trade (Court) remanded the case to the Commerce Department for further analysis. On January 9, 2014, the Commerce Department filed its remand redetermination with the Court, and continued to calculate a zero duty for the Company during POR III. In addition, the Commerce Department revised its earlier determination and assigned a zero margin as a separate rate to several Chinese producers/exporters of steam activated carbon to the U.S. that were not subjected to an individual investigation. The Company contested this aspect of the Commerce Department’s redetermination. On November 24, 2014, the Court affirmed the Commerce Department’s remand determination. Various parties involved in this review, including the Company, appealed the decision to the United States Court of Appeals for the Federal Circuit (Court of Appeals). On May 2, 2016, the Court of Appeals issued a decision finding that shipments by all three of the Chinese separate rate respondents that initially challenged the Commerce Department’s final results in POR III should be assigned a zero dumping margin. The Court of Appeal’s decision will have no material impact on the Company’s financial results. Period of Review VI: On November 19, 2014, the Commerce Department announced the final margins for its sixth administrative review (POR VI), which covers imports that entered the U.S. between April 1, 2012 and March 31, 2013. The Commerce Department calculated a margin of $0.018 per pound for both mandatory and separate rate respondents, and $1.10 per pound for the China-wide rate. Calgon Carbon Tianjin was assigned a margin of $0.018 per pound as it was considered a separate rate respondent. In December 2014, an appeal was commenced challenging the final results. On January 20, 2016, the Court issued a preliminary decision agreeing with the Petitioners’ challenge to the Commerce Department’s final margins and directing the agency to reconsider its valuation of a key factor of production. On May 25, 2016, the Commerce Department issued its redetermination rejecting all of the respondents’ arguments challenging the draft redetermination, and calculated a duty rate of $0.23 per pound for both the mandatory and separate rate respondents. The respondents submitted comments to the Court challenging the Commerce Department’s final redetermination. A decision by the Court addressing the Commerce Department’s redetermination is possible in the fourth quarter of 2016. The impact of the tariffs during this period is not expected to be material to the Company’s financial results. Period of Review VII: On April 1, 2014, the Commerce Department published a notice allowing parties to request a seventh annual administrative review of the anti-dumping duty order covering the period April 1, 2013 through March 31, 2014 (POR VII). The Commerce Department announced the final results for POR VII on October 5, 2015. The Commerce Department calculated anti-dumping margins for the mandatory respondents it examined ranging from $0.00 per pound to $0.476 per pound, and it calculated an anti-dumping margin of $0.476 per pound for the separate rate respondents whose shipments of activated carbon to the U.S. were not individually reviewed. The Company, as a Chinese exporter and a U.S. importer, received the separate rate of $0.476 per pound. The impact of the revised tariffs to the Company’s financial results is not material. In October 2015, appeals by one of the mandatory respondents and several separate rate respondents were commenced challenging the final results of the seventh administrative review. A decision by the Court on the Chinese respondents’ challenges is possible in late 2016 or early 2017. Period of Review VIII: On April 1, 2015, the Commerce Department published a notice allowing parties to request an eighth annual administrative review of the anti-dumping duty order covering the period April 1, 2014 through March 31, 2015 (POR VIII). The Commerce Department announced the final results for POR VIII on September 1, 2016. The Commerce Department calculated anti-dumping margins for the mandatory respondents it examined ranging from $0.009 per pound to $0.797 per pound and it calculated an anti-dumping margin of $0.616 per pound for the separate rate respondents whose shipments of activated carbon to the U.S. were not individually reviewed. The Company, as a Chinese exporter and U.S. importer, received the separate rate of $0.616 per pound. The impact of the revised tariffs to the Company’s financial results is not material. Several respondents commenced appeals challenging the final results of the eighth administrative review. A decision by the Court on the Chinese respondents’ challenges is possible in mid to late 2017. Period of Review IX: On April 1, 2016, the Commerce Department published a notice allowing parties to request a ninth annual administrative review of the anti-dumping duty order covering the period April 1, 2015 through March 31, 2016 (POR IX). The Commerce Department has selected mandatory respondents for review, and is expected to issue its preliminary results of review in May 2017. Calgon Carbon Tianjin will not participate in POR IX as a cooperative respondent. Big Sandy Plant By letter dated January 22, 2007, the Company received from the United States Environmental Protection Agency (EPA) Region 4 a report of a hazardous waste facility inspection performed by the EPA and the Kentucky Department of Environmental Protection (KYDEP) as part of a Multi Media Compliance Evaluation of the Company’s Big Sandy Plant in Catlettsburg, Kentucky that was conducted on September 20 and 21, 2005. Accompanying the report was a Notice of Violation (NOV) alleging multiple violations of the Federal Resource Conservation and Recovery Act (RCRA) and corresponding EPA and KYDEP hazardous waste regulations as well as the Clean Water Act (CWA). The Company was required to conduct testing of the portion of stockpiled material dredged from onsite wastewater treatment lagoons that had not previously been tested in accordance with a pre-approved work plan and will install two ground water monitoring wells at the Company’s permitted solid waste landfill where some lagoon solids had previously been disposed. The landfill is to be considered a non-hazardous facility and regulated by the KYDEP. The testing of the stockpile material was completed and the results have been reviewed by the EPA. The Company received comments from the EPA including a request for a health and safety risk assessment similar to that which the Company performed on other materials from the lagoons. The Company has prepared this assessment and it has been submitted to the EPA. The stockpiled material was removed in 2015 and the Company will not be required to close or retrofit any of the wastewater treatment lagoons as RCRA hazardous waste management units and may continue to use them in their current manner. The Company will be subject to daily stipulated penalties for any failure to install and sample the landfill wells in accordance with the EPA-approved protocols and schedules. As of September 30, 2016 and December 31, 2015, there is no liability recorded related to this issue. Multi-employer Pension Plan The Company participates in a multi-employer plan in Europe which almost entirely relates to former employees of operations it has divested. Benefits are distributed by the multi-employer plan. In 2012, the Company learned that the multi-employer plan had previously elected to reduce benefits to entitled parties, and the local Labor Court had concluded that an employer was required to compensate its pensioners for the shortfall if benefits had been reduced by the plan. As a result, the Company accrued a liability for the past shortfall to its former employees, and the Company has had several claims from pensioners seeking compensation for the shortfall. In 2014, the Company also learned that certain pensioners are claiming that the employers should also pay a cost of living adjustment on the amounts paid by the multi-employer plan. In February 2015, the Court published an opinion ruling that employers may be required to pay a cost of living adjustment. As of September 30, 2016 and December 31, 2015, respectively, the Company has a $1.1 million and $0.9 million liability recorded as a component of payroll and benefits payable within its condensed consolidated balance sheets for the past shortfall adjustments to its former employees. The Company cannot predict if future benefit payments to entitled parties to be made by the multi-employer plan will continue to be reduced. Other In addition to the matters described above, the Company is involved in various other legal proceedings, lawsuits and claims, including employment, product warranty and environmental matters of a nature considered normal to its business. It is the Company’s policy to accrue for amounts related to these legal matters when it is probable that a liability has been incurred and the loss amount is reasonably estimable. Management is currently unable to estimate the amount or range of reasonably possible losses, if any, resulting from such lawsuits and claims.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	9 Months Ended
	Sep. 30, 2016
Supplemental Cash Flow Information
Supplemental Cash Flow Information	12. Supplemental Cash Flow Information The Company has reflected $0.4 million and $(0.2) million of its capital expenditures as a non-cash increase (decrease) in accounts payable and accrued liabilities for changes in unpaid capital expenditures for the nine months ended September 30, 2016 and 2015, respectively.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2016
Segment Information
Segment Information	13. Segment Information The Company’s management has identified three segments based on the product line and associated services. Those segments include Activated Carbon and Service, Equipment, and Consumer. The Company’s chief operating decision maker, its chief executive officer, receives and reviews financial information in this format. The Activated Carbon and Service segment manufactures granular activated carbon for use in applications to remove organic compounds from liquids, gases, water, and air. This segment also consists of services related to activated carbon including reactivation of spent carbon and the leasing, monitoring, and maintenance of carbon fills at customer sites. The service portion of this segment also includes services related to the Company’s ion exchange technologies for treatment of groundwater and process streams. The Equipment segment provides solutions to customers’ air and water process problems through the design, fabrication, and operation of systems that utilize the Company’s enabling technologies: ballast water, ultraviolet light, advanced ion exchange separation, and carbon adsorption. The Consumer segment supplies activated carbon cloth for use in military, industrial, and medical applications. Intersegment net sales are not material. The following segment information represents the results of operations: Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Net sales Activated Carbon and Service $ $ $ $ Equipment Consumer Consolidated net sales $ $ $ $ Income (loss) from operations Activated Carbon and Service $ $ $ $ Equipment Consumer Reconciling items: Interest income — Interest expense Other income (expense) — net Income before income tax provision $ $ $ $ Depreciation and amortization Activated Carbon and Service $ $ $ $ Equipment Consumer $ $ $ $

Government Grants

Government Grants	9 Months Ended
	Sep. 30, 2016
Government Grants
Government Grants	14. Government Grants On December 19, 2014, the Company received an incentive of 3.86 million RMB or approximately $0.6 million from the Suzhou Wuzhong Economic Development Zone (WEDZ), where the Company’s Suzhou, China facility is located. This incentive was provided based on the Company’s commitment to the construction of carbon reactivation lines in two phases. Under phase one, the construction of two reactivation lines and under phase two, the construction of another two reactivation lines on the same site. For the year ended December 31, 2014, the Company recognized 1.93 million RMB or approximately $0.3 million less related expenses as a reduction to other expense - net on its consolidated statements of comprehensive income as phase one of the agreed upon commitment had been completed and all required documentation had been submitted to WEDZ. On May 17, 2016, the Company received an incentive of 3.86 million RMB or approximately $0.6 million from the JiangSu Provincial Bureau based on the same Company commitment. For the three and nine month periods ended September 30, 2016, the Company did not recognize income for the second incentive as all required documentation has not yet been completed. As of September 30, 2016 and December 31, 2015, the Company has a $0.9 million and $0.3 million liability recorded as a component of accrued pension and other liabilities within its condensed consolidated balance sheets for the unearned portion of the incentives.

Acquisition

Acquisition	9 Months Ended
	Sep. 30, 2016
Acquisition
Acquisition	15. Acquisition On April 14, 2016, the Company entered into an agreement where it made an irrevocable offer to purchase the assets and business of the wood-based activated carbon, reactivation and mineral-based filtration media business of CECA, a subsidiary of Arkema Group (the Activated Carbon and Filter Aid Business). Following the completion of consultations with certain of Arkema’s work council, the parties executed a definitive Asset and Share Purchase Agreement on July 25, 2016. The Activated Carbon and Filter Aid Business which primarily serves food and beverage, industrial and pharmaceutical customers in Europe and Asia had sales of 93.2 million Euros in 2015 and has approximately 300 employees. The completion of this transaction was subject to various customary conditions and regulatory clearances. The Company completed this acquisition on November 2, 2016 and paid 140.7 million Euros, or $153.0 million in cash and assumed certain liabilities of 6.5 million Euros, or $7.1 million. The Company has financed the transaction through borrowings under the Amended Revolver. Future consolidated financial statements of the Company will include the results of operations of the acquired business from the date of the acquisition. The Company is determining the allocation of the purchase price to the fair value of the assets and liabilities acquired.

Basis of Presentation and Acc21

Basis of Presentation and Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2016
Basis of Presentation and Accounting Policies
Basis of Presentation	The condensed consolidated financial statements included herein are unaudited and have been prepared by Calgon Carbon Corporation and subsidiaries (the Company) pursuant to the rules and regulations of the Securities and Exchange Commission (SEC). Certain information and footnote disclosures normally included in audited annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to such rules and regulations. Management of the Company believes that the disclosures included herein are adequate to make the information presented not misleading when read in conjunction with the Company’s audited consolidated financial statements and the notes included therein for the year ended December 31, 2015, as filed with the SEC by the Company on Annual Report on Form 10-K. In management’s opinion, the condensed consolidated financial statements reflect all adjustments, which are of a normal and recurring nature, and which are necessary for a fair presentation, in all material respects, of financial results for the interim periods presented. Operating results for the first nine months of 2016 are not necessarily indicative of the results that may be expected for the year ending December 31, 2016.
Reclassifications	Certain prior year amounts have been reclassified to conform to the 2016 presentation. The restructuring reserve of $0.1 million reported as of December 31, 2015 has been reclassified to accounts payable and accrued liabilities.
New Accounting Pronouncements	There have been no developments to recently issued accounting standards from those disclosed in the Company’s Annual Report on Form 10-K as filed with the SEC for the year ended December 31, 2015, except for the following. In February 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016-02, “Leases (Topic 842)” which introduces a lessee model that brings most leases on the balance sheet, requiring lessees to recognize the right to use assets and lease obligations that arise from lease arrangements exceeding a twelve month term. Lessees will also need to disclose qualitative and quantitative information about lease transactions, such as information about variable lease payments and options to renew and terminate leases. For income statement purposes, the FASB retained a dual model, requiring leases to be classified as either operating or finance. Classification will be based on criteria that are largely similar to those applied in current lease accounting, but without explicit bright lines. Lessor accounting is similar to the current model, but updated to align with certain changes to the lessee model and the new revenue recognition standard. The new guidance is effective for fiscal years beginning after December 15, 2018, and early application is permitted. Entities are required to use a modified retrospective transition for existing leases. The Company is evaluating the provisions of this ASU and assessing the impact it may have on the Company’s consolidated financial statements and related disclosures. In March 2016, the FASB issued ASU 2016-08, “Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net)” which amends the principal-versus agent implementation guidance and illustrations in FASB’s new revenue standard ASU 2014-09. The new guidance includes indicators to assist an entity in determining whether it controls a specified good or service before it is transferred to the customers. In April 2016, the FASB issued ASU 2016-10, “Identifying Performance Obligations and Licensing” which amends certain aspects of the guidance in ASU 2014-09. For identifying performance obligations, the amendments include: immaterial promised goods and services, shipping and handling activities, and identifying when promises represent performance obligations. In May 2016, the FASB issued ASU 2016-12, “Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients.” This clarifies the collectability assessment, sales tax presentation and the treatment of contract modifications and completed contracts at transition. In May 2016, the FASB issued ASU 2016-11, “Rescission of SEC Guidance Because of Accounting Standards Update 2014-09” which rescinds certain SEC guidance upon adoption including those related to freight services in process and shipping and handling fees. All of the new guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2017. Entities have the option of using either a full retrospective or a modified retrospective approach. The Company is evaluating the provisions of these ASUs and assessing the impact they may have on the Company’s consolidated financial statements and related disclosures. In March 2016, the FASB issued ASU 2016-09, “Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting” which simplifies several aspects of the accounting for employee share-based payment transactions, including the accounting for income taxes, forfeitures, and statutory tax withholding requirements, as well as classification in the statement of cash flows. The new guidance is effective for annual reporting periods beginning after December 15, 2016, including interim periods within those annual reporting periods. The Company is planning to adopt the provisions of this ASU using the modified retrospective transition method for existing share-based payment transactions, effective January 1, 2017. The Company does not expect a material financial impact relating to the adoption of this ASU. In June 2016, the FASB issued ASU 2016-13, “Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” which adds a Current Expected Credit Loss (CECL) model that is based on expected losses rather than incurred losses, which is applicable to trade receivables. The new guidance is effective for annual reporting periods beginning after December 15, 2019, including interim periods within those annual reporting periods. Entities are required to use the modified retrospective approach. The Company is evaluating the provisions of this ASU and assessing the impact it may have on the Company’s consolidated financial statements and related disclosures. In August 2016, the FASB issued ASU 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments” to add or clarify guidance on the classification of certain cash receipts and payments in the statement of cash flows. The new guidance is effective for annual reporting period beginning after December 15, 2017, including interim periods within those annual reporting periods. Entities must apply the guidance retrospectively to all periods presented, but may apply it prospectively from the earliest date practicable if retrospective application would be impracticable. The adoption of this ASU is not expected to have a material impact on the Company’s consolidated financial statements.

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2016
Inventories
Schedule of inventories	September 30, 2016 December 31, 2015 Raw materials $ $ Finished goods Total $ $

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2016
Fair Value Measurements
Schedule of carrying amount, fair value, and classification within fair value hierarchy of financial instrument assets (liabilities)	Fair Value September 30, 2016 December 31, 2015 Hierarchy Carrying Fair Carrying Fair Level Amount Value Amount Value Cash and cash equivalents 1 $ $ $ $ Derivative assets 2 Derivative liabilities 2 Acquisition earn-out liability 2 Long-term debt, including current portion 2

Derivative Instruments (Tables)

Derivative Instruments (Tables)	9 Months Ended
	Sep. 30, 2016
Derivative Instruments
Schedule of fair value of outstanding derivative contracts	Asset Derivatives Balance Sheet Locations September 30, 2016 December 31, 2015 Derivatives designated as hedging instruments: Foreign exchange contracts Other current assets $ $ Natural gas contracts Other current assets — Foreign exchange contracts Other assets — Natural gas contracts Other assets — Derivatives not designated as hedging instruments: Foreign exchange contracts Other current assets Total asset derivatives $ $ Liability Derivatives Balance Sheet Locations September 30, 2016 December 31, 2015 Derivatives designated as hedging instruments: Foreign exchange contracts Accounts payable and accrued liabilities $ $ Natural gas contracts Accounts payable and accrued liabilities Foreign exchange contracts Accrued pension and other liabilities Natural gas contracts Accrued pension and other liabilities Derivatives not designated as hedging instruments: Foreign exchange contracts Accounts payable and accrued liabilities Total liability derivatives $ $
Schedule of outstanding derivative contracts	(in thousands except for mmbtu) September 30, 2016 December 31, 2015 Natural gas contracts (mmbtu) Foreign exchange contracts $ $
Schedule of gross and net amounts of derivative assets and liabilities	September 30, 2016 December 31, 2015 Fair Value Fair Value Fair Value Fair Value of Assets of Liabilities of Assets of Liabilities Gross derivative amounts recognized in the balance sheet $ $ $ $ Gross derivative amounts not offset in the balance sheet that are eligible for offsetting Net amount $ $ $ $
Schedule of amount of gain or (loss) on derivatives recognized in OCI and reclassified from accumulated OCI into earnings (effective portion)	Amount of Gain or (Loss) Recognized in OCI on Derivatives (Effective Portion) Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Foreign exchange contracts $ $ $ $ Natural gas contracts Total $ $ $ $ Amount of Gain or (Loss) Recognized from Accumulated OCI into Earnings (Effective Portion) (1) Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Foreign exchange contracts $ $ $ $ Natural gas contracts Total $ $ $ $ (1) Assuming market rates remain constant with the rates as of September 30, 2016, a loss of $0.9 million is expected to be recognized in earnings over the next 12 months.
Schedule of fair value gains and losses on derivative contracts not qualified for hedge accounting treatment	Amount of Gain or (Loss) Recognized in Earnings on Derivatives Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Foreign exchange contracts $ $ $ $ Total $ $ $ $

Borrowing Arrangements (Tables)

Borrowing Arrangements (Tables)	9 Months Ended
	Sep. 30, 2016
Borrowing Arrangements
Schedule of long-term debt	Long-Term Debt September 30, 2016 December 31, 2015 U.S. Credit Agreement Borrowings $ $ Japanese Credit Agreement Borrowings — Japanese Term Loan Borrowings — Total Long-Term Debt Less Current Portion of Long-Term Debt Net Long-Term Debt $ $

Pensions (Tables)

Pensions (Tables)	9 Months Ended
	Sep. 30, 2016
U.S. Plans
Employee Benefit Plans
Schedule of components of net periodic pension costs	Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Service cost $ $ $ $ Interest cost Expected return on assets Amortization of prior service cost — — Net actuarial loss amortization Settlement Net periodic pension cost $ $ $ $
European Plans
Employee Benefit Plans
Schedule of components of net periodic pension costs	Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Service cost $ $ $ $ Interest cost Expected return on assets Net actuarial loss amortization Net periodic pension cost $ $ $ $

Accumulated Other Comprehensi27

Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	Sep. 30, 2016
Accumulated Other Comprehensive Income (Loss)
Schedule of changes in components of accumulated other comprehensive income (loss), net of tax	Total Foreign Defined Accumulated Currency Benefit Other Translation Pension Plan Comprehensive Adjustments Adjustments Derivatives Income (Loss) Balance as of December 31, 2015, net of tax $ $ $ $ Other comprehensive income (loss) before reclassifications Amounts reclassified from other comprehensive income (loss) — Net current period other comprehensive income (loss) Balance as of September 30, 2016, net of tax $ $ $ $ Total Foreign Defined Accumulated Currency Benefit Other Translation Pension Plan Comprehensive Adjustments Adjustments Derivatives Income (Loss) Balance as of December 31, 2014, net of tax $ $ $ $ Other comprehensive income (loss) before reclassifications Amounts reclassified from other comprehensive income (loss) — Net current period other comprehensive income (loss) Balance as of September 30, 2015, net of tax $ $ $ $
Schedule of details about components and amount reclassified from accumulated other comprehensive income (loss)	Amount Reclassified from Details about Accumulated Accumulated Other Comprehensive Income (Loss) (1) Affected Line Item in the Other Comprehensive Three Months Ended September 30, Nine Months Ended September 30, Statement where Income (Loss) Components 2016 2015 2016 2015 Net Income is Presented Defined Benefit Pension Plan Adjustments: Prior-service costs $ — $ $ — $ (2) Actuarial losses (2) Total before tax Tax benefit $ $ $ $ Net of tax Derivatives: Foreign exchange contracts $ $ $ $ Cost of products sold (excluding depreciation and amortization) Natural gas contracts Cost of products sold (excluding depreciation and amortization) Total before tax Tax benefit (expense) $ $ $ $ Net of tax Total reclassifications for the period $ $ $ $ Net of tax (1) Amounts in parentheses indicate debits to income/loss. (2) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension cost.
Schedule of components of income tax expense (benefit) included in other comprehensive income (loss)	Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Defined benefit pension plan $ $ $ $ Derivatives

Basic and Diluted Net Income 28

Basic and Diluted Net Income Per Common Share (Tables)	9 Months Ended
	Sep. 30, 2016
Basic and Diluted Net Income Per Common Share
Schedule of computation of basic and diluted net income per common share	Three Months Ended September 30, Nine Months Ended September 30, (In thousands, except per share amounts) 2016 2015 2016 2015 Net income available to common stockholders $ $ $ $ Weighted Average Shares Outstanding Basic Effect of Dilutive Securities Diluted Basic net income per common share $ $ $ $ Diluted net income per common share $ $ $ $

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2016
Segment Information
Schedule of results of operations by segment	Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Net sales Activated Carbon and Service $ $ $ $ Equipment Consumer Consolidated net sales $ $ $ $ Income (loss) from operations Activated Carbon and Service $ $ $ $ Equipment Consumer Reconciling items: Interest income — Interest expense Other income (expense) — net Income before income tax provision $ $ $ $ Depreciation and amortization Activated Carbon and Service $ $ $ $ Equipment Consumer $ $ $ $

Basis of Presentation and Acc30

Basis of Presentation and Accounting Policies - Reclassification (Details) $ in Millions	Dec. 31, 2015USD ($)
Restructuring reserve
Restructuring
Reclassified amount	$ (0.1)
Accounts payable and accrued liabilities
Restructuring
Reclassified amount	$ 0.1

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Inventories
Raw materials	$ 21,388	$ 23,327
Finished goods	93,028	87,037
Total	114,416	110,364
Reserves for obsolete and slow-moving items	$ 2,900	$ 2,400

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Fair Value Measurements
Derivative assets	$ 151	$ 468
Derivative liabilities	(1,118)	(783)
Carrying Amount
Fair Value Measurements
Cash and cash equivalents	57,234	53,629
Derivative assets	151	468
Derivative liabilities	(1,118)	(783)
Acquisition earn-out liability	(100)	(163)
Long-term debt, including current portion	(102,294)	(111,441)
Fair Value | Level 1
Fair Value Measurements
Cash and cash equivalents	57,234	53,629
Fair Value | Level 2
Fair Value Measurements
Long-term debt, including current portion	(102,294)	(111,441)
Recurring | Fair Value | Level 2
Fair Value Measurements
Derivative assets	151	468
Derivative liabilities	(1,118)	(783)
Acquisition earn-out liability	$ (100)	$ (163)

Derivative Instruments - Genera

Derivative Instruments - General Information (Details) - Maximum	9 Months Ended
	Sep. 30, 2016
Managing foreign currency and natural gas exposure
Percentage of the value of the forecasted exposure to be hedged by using foreign currency risk derivatives	75.00%
Percentage of the forecasted natural gas requirements to be hedged by using derivatives	75.00%
Foreign currency forward exchange contracts
Managing foreign currency and natural gas exposure
Maturity period of derivatives	18 months
Foreign exchange option contracts
Managing foreign currency and natural gas exposure
Maturity period of derivatives	18 months
Natural gas contracts | Forward contracts
Managing foreign currency and natural gas exposure
Maturity period of derivatives	24 months

Derivative Instruments - Fair V

Derivative Instruments - Fair Value of Outstanding Derivative Contracts (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Derivative Instruments
Asset Derivatives	$ 151	$ 468
Liability Derivatives	1,118	783
Derivatives designated as hedging instruments | Foreign exchange contracts | Other current assets
Derivative Instruments
Asset Derivatives	8	411
Derivatives designated as hedging instruments | Foreign exchange contracts | Other assets
Derivative Instruments
Asset Derivatives		6
Derivatives designated as hedging instruments | Foreign exchange contracts | Accounts payable and accrued liabilities
Derivative Instruments
Liability Derivatives	958	13
Derivatives designated as hedging instruments | Foreign exchange contracts | Accrued pension and other liabilities
Derivative Instruments
Liability Derivatives	97	3
Derivatives designated as hedging instruments | Natural gas contracts | Other current assets
Derivative Instruments
Asset Derivatives	78
Derivatives designated as hedging instruments | Natural gas contracts | Other assets
Derivative Instruments
Asset Derivatives	20
Derivatives designated as hedging instruments | Natural gas contracts | Accounts payable and accrued liabilities
Derivative Instruments
Liability Derivatives	35	586
Derivatives designated as hedging instruments | Natural gas contracts | Accrued pension and other liabilities
Derivative Instruments
Liability Derivatives	5	89
Derivatives not designated as hedging instruments | Foreign exchange contracts | Other current assets
Derivative Instruments
Asset Derivatives	45	51
Derivatives not designated as hedging instruments | Foreign exchange contracts | Accounts payable and accrued liabilities
Derivative Instruments
Liability Derivatives	$ 23	$ 92

Derivative Instruments - Notion

Derivative Instruments - Notional Amounts of Outstanding Derivative Contracts (Details) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2016USD ($)MMBTU	Dec. 31, 2015USD ($)MMBTU
Natural gas contracts
Derivative Instruments
Outstanding derivative contracts that were entered into to hedge forecasted transactions (in mmbtu) | MMBTU	720,000	955,000
Foreign exchange contracts
Derivative Instruments
Outstanding derivative contracts that were entered into to hedge forecasted transactions | $	$ 42,697	$ 37,016

Derivative Instruments - Gross

Derivative Instruments - Gross and Net Amounts of Derivative Assets and Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Fair Value of Assets
Gross derivative amounts recognized in the balance sheet	$ 151	$ 468
Gross derivative amounts not offset in the balance sheet that are eligible for offsetting	(65)	(67)
Net amount	86	401
Fair Value of Liabilities
Gross derivative amounts recognized in the balance sheet	1,118	783
Gross derivative amounts not offset in the balance sheet that are eligible for offsetting	(65)	(67)
Net amount	$ 1,053	$ 716

Derivative Instruments - Deriva

Derivative Instruments - Derivatives in Cash Flow Hedging Relationships (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Derivative Instruments
Loss relating to accumulated OCI expected to be recognized in earnings over the next 12 months			$ 900
Cash flow hedges
Derivative Instruments
Amount of Gain or (Loss) Recognized in OCI on Derivatives (Effective Portion)	$ 191	$ (563)	(1,048)	$ (43)
Cash flow hedges | Cost of products sold (excluding depreciation and amortization)
Derivative Instruments
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Earnings (Effective Portion)	30	308	(126)	972
Cash flow hedges | Other expense - net
Derivative Instruments
Amount of gain or (loss) recognized in earnings on derivatives related to ineffective portion and amount excluded from effectiveness testing	0	0	0	0
Cash flow hedges | Foreign exchange contracts
Derivative Instruments
Amount of Gain or (Loss) Recognized in OCI on Derivatives (Effective Portion)	(66)	(221)	(1,512)	649
Cash flow hedges | Foreign exchange contracts | Cost of products sold (excluding depreciation and amortization)
Derivative Instruments
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Earnings (Effective Portion)	(153)	600	281	1,668
Cash flow hedges | Natural gas contracts
Derivative Instruments
Amount of Gain or (Loss) Recognized in OCI on Derivatives (Effective Portion)	257	(342)	464	(692)
Cash flow hedges | Natural gas contracts | Cost of products sold (excluding depreciation and amortization)
Derivative Instruments
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Earnings (Effective Portion)	$ 183	$ (292)	$ (407)	$ (696)

Derivative Instruments - Deri38

Derivative Instruments - Derivatives Not Designated as Hedging Instruments (Details) - Other expense - net - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Derivative Instruments
Amount of Gain or (Loss) Recognized in Income on Derivatives Not Designated as Hedging Instruments	$ (240)	$ (303)	$ 1,050	$ (1,033)
Foreign exchange contracts
Derivative Instruments
Amount of Gain or (Loss) Recognized in Income on Derivatives Not Designated as Hedging Instruments	$ (240)	$ (303)	$ 1,050	$ (1,033)

Borrowing Arrangements - Long-T

Borrowing Arrangements - Long-Term Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Long-term Debt
Total Long-Term Debt	$ 102,294	$ 111,441
Less Current Portion of Long-Term Debt	(7,500)	(7,500)
Long-Term Debt	94,794	103,941
U.S. Credit Agreement
Long-term Debt
Total Long-Term Debt	96,375	107,700
Japanese Credit Agreement
Long-term Debt
Total Long-Term Debt	$ 5,919
Japanese Term Loan due May 2017
Long-term Debt
Total Long-Term Debt		$ 3,741

Borrowing Arrangements - Debt A

Borrowing Arrangements - Debt Agreements (Details) € in Millions, £ in Millions

Oct. 04, 2016USD ($)

Nov. 06, 2013USD ($)

Sep. 30, 2016JPY (¥)

Sep. 30, 2016GBP (£)

Sep. 30, 2016CNY (¥)

Sep. 30, 2016EUR (€)

Sep. 30, 2016USD ($)

Mar. 24, 2016JPY (¥)

Dec. 31, 2015JPY (¥)

Dec. 31, 2015GBP (£)

Dec. 31, 2015CNY (¥)

Dec. 31, 2015EUR (€)

Dec. 31, 2015USD ($)

Sep. 30, 2015

Borrowing arrangements

Current portion of long-term debt

$ 7,500,000

$ 7,500,000

First Amended and Restated Credit Agreement

Borrowing arrangements

Maximum borrowing capacity

$ 400,000,000

U.S. Credit Agreement

Borrowing arrangements

Debt issuance costs

$ 800,000

U.S. Credit Agreement | Minimum

Borrowing arrangements

Rate of interest at balance sheet date (as a percent)

1.77%

1.77%

1.77%

1.77%

1.77%

1.20%

U.S. Credit Agreement | Maximum

Borrowing arrangements

Rate of interest at balance sheet date (as a percent)

1.93%

1.93%

1.93%

1.93%

1.93%

1.35%

U.S. Credit Agreement | Permitted dividends | Minimum

Borrowing arrangements

Sum of availability under Credit Agreement and amount of U.S. cash on hand

$ 50,000,000

U.S. Credit Agreement | Permitted dividends | Maximum

Borrowing arrangements

Ratio of debt to earnings before interest, taxes, depreciation and amortization (as a percent)

2.75%

Japanese Credit Agreement | CCJ

Borrowing arrangements

Maximum borrowing capacity | ¥

¥ 2,000,000,000

Quarterly nonrefundable commitment fee payable (as a percent)

0.18%

Amount outstanding and shown as long-term debt

¥ 600,000,000

$ 5,900,000

Availability under the credit facility | ¥

¥ 1,400,000,000

Japanese Credit Agreement | TIBOR | CCJ

Borrowing arrangements

Average interest rate (as a percent)

1.31%

1.31%

1.31%

1.31%

1.31%

Japanese Term Loan due May 2017 | CCJ

Borrowing arrangements

Maximum borrowing capacity | ¥

¥ 1,000,000,000

Amount outstanding and shown as long-term debt

¥ 450,000,000

$ 3,700,000

Japanese Term Loan due May 2017 | Uncollateralized Overnight Call Rate | CCJ

Borrowing arrangements

Average interest rate (as a percent)

0.70%

0.70%

0.70%

0.70%

0.70%

Japanese working capital loan | CCJ

Borrowing arrangements

Maximum borrowing capacity | ¥

¥ 1,500,000,000

Amount outstanding and shown as short-term debt

¥ 0

$ 0

Chinese Uncommitted Revolving Loan Facility Letter

Borrowing arrangements

Maximum borrowing capacity

¥ 5,000,000

$ 800,000

Amount outstanding and shown as short-term debt

¥ 0

0

Belgian credit facility

Borrowing arrangements

Maximum borrowing capacity | €

€ 2

Amount outstanding | €

0

€ 0

Belgian credit facility | Bank guarantees

Borrowing arrangements

Amount outstanding | €

€ 1.1

€ 0.9

United Kingdom credit facility

Borrowing arrangements

Maximum borrowing capacity | £

£ 0.6

United Kingdom credit facility | Bank guarantees

Borrowing arrangements

Amount outstanding | £

£ 0.4

£ 0.4

Revolving credit facility | First Amended and Restated Credit Agreement

Borrowing arrangements

Maximum borrowing capacity

300,000,000

Increase in borrowing capacity that may be requested

100,000,000

Revolving credit facility | U.S. Credit Agreement

Borrowing arrangements

Maximum borrowing capacity

$ 225,000,000

Increase in borrowing capacity that may be requested

75,000,000

Quarterly nonrefundable commitment fee payable (as a percent)

0.18%

Amount outstanding

27,000,000

32,700,000

Availability under the credit facility

195,400,000

189,900,000

Term loan facility | First Amended and Restated Credit Agreement

Borrowing arrangements

Maximum borrowing capacity

100,000,000

Amount borrowed

$ 100,000,000

Term loan facility | First Amended and Restated Credit Agreement | January 1, 2017 until January 1, 2019

Borrowing arrangements

Required quarterly repayments as a percentage of outstanding principal balance

1.25%

Term loan facility | First Amended and Restated Credit Agreement | January 1, 2019 until October 4, 2023 maturity date

Borrowing arrangements

Required quarterly repayments as a percentage of outstanding principal balance

2.00%

Standby or letters of credit for trade | U.S. Credit Agreement

Borrowing arrangements

Maximum borrowing capacity

75,000,000

Letters of credit | First Amended and Restated Credit Agreement

Borrowing arrangements

Maximum borrowing capacity

$ 75,000,000

Letters of credit | U.S. Credit Agreement

Borrowing arrangements

Amount outstanding

2,600,000

2,400,000

Swing loans | First Amended and Restated Credit Agreement

Borrowing arrangements

Maximum borrowing capacity

$ 15,000,000

Swing loans | U.S. Credit Agreement

Borrowing arrangements

Maximum borrowing capacity

15,000,000

Loans or letters of credit in foreign denominated currencies | U.S. Credit Agreement

Borrowing arrangements

Maximum borrowing capacity

50,000,000

Delayed Draw Term Loans | U.S. Credit Agreement

Borrowing arrangements

Maximum borrowing capacity

$ 75,000,000

Current portion of long-term debt

7,500,000

Amount outstanding

69,400,000

$ 75,000,000

Availability under the credit facility

$ 0

Pensions - Components of Net Pe

Pensions - Components of Net Periodic Pension Costs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
U.S. Plans
Components of net periodic pension costs of the plans
Service cost	$ 239	$ 285	$ 717	$ 853
Interest cost	1,146	1,138	3,443	3,365
Expected return on plan assets	(1,512)	(1,783)	(4,529)	(5,349)
Amortization of prior service cost		4		11
Net actuarial loss amortization	753	646	2,257	1,916
Settlement	76	480	756	480
Net periodic pension cost (benefit)	702	770	2,644	1,276
European Plans
Components of net periodic pension costs of the plans
Service cost	93	72	279	217
Interest cost	280	309	877	920
Expected return on plan assets	(348)	(421)	(1,100)	(1,251)
Net actuarial loss amortization	57	54	174	163
Net periodic pension cost (benefit)	$ 82	$ 14	$ 230	$ 49

Pensions - Contribution (Detail

Pensions - Contribution (Details) $ in Millions	9 Months Ended
	Sep. 30, 2016USD ($)
U.S. Plans
Pensions
Discretionary contribution	$ 0.6

Pensions - Multi-Employer Pensi

Pensions - Multi-Employer Pension Plan (Details) - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Multi-employer pension plan | Payroll and benefits payable
Multi-employer pension plan
Accrued plan liability	$ 1.1	$ 0.9

Stockholders' Equity - Common S

Stockholders' Equity - Common Stock Dividends (Details) - $ / shares	1 Months Ended	3 Months Ended						9 Months Ended
	Nov. 30, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Sep. 30, 2016	Sep. 30, 2015
Stockholders' Equity
Common stock dividends declared (in dollars per share)	$ 0.05	$ 0.05	$ 0.05	$ 0.05	$ 0.05	$ 0.05	$ 0.05	$ 0.15	$ 0.15
Common stock dividends paid (in dollars per share)		$ 0.05	$ 0.05	$ 0.05	$ 0.05	$ 0.05	$ 0.05

Stockholders' Equity - Share Re

Stockholders' Equity - Share Repurchases (Details) - Share repurchase program December 2013 - USD ($) $ / shares in Units, $ in Millions	9 Months Ended		34 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Dec. 31, 2013
Shareholders' Equity
Total purchases authorized under share repurchase program				$ 150
Shares repurchased	518,576	1,263,791	4,598,661
Average purchase price (in dollars per share)	$ 15.81	$ 18.04	$ 18.67
Amount of remaining authorization to repurchase common stock	$ 64.1		$ 64.1

Accumulated Other Comprehensi46

Accumulated Other Comprehensive Income (Loss) - Changes in Components (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Accumulated Other Comprehensive Income (Loss)
Balance			$ 393,991
Total other comprehensive income (loss)	$ 844	$ (2,546)	1,007	$ (8,679)
Balance	401,778		401,778
Accumulated Other Comprehensive Income (Loss).
Accumulated Other Comprehensive Income (Loss)
Balance			(41,630)	(27,510)
Other comprehensive income (loss) before reclassifications			(1,065)	(9,361)
Amounts reclassified from other comprehensive income (loss)			2,072	682
Total other comprehensive income (loss)			1,007	(8,679)
Balance	(40,623)	(36,189)	(40,623)	(36,189)
Foreign Currency Translation Adjustments
Accumulated Other Comprehensive Income (Loss)
Balance			(11,070)	1,943
Other comprehensive income (loss) before reclassifications			(595)	(9,462)
Total other comprehensive income (loss)			(595)	(9,462)
Balance	(11,665)	(7,519)	(11,665)	(7,519)
Defined Benefit Pension Plan Adjustments
Accumulated Other Comprehensive Income (Loss)
Balance			(30,474)	(30,358)
Other comprehensive income (loss) before reclassifications			289	103
Amounts reclassified from other comprehensive income (loss)			2,002	1,357
Total other comprehensive income (loss)			2,291	1,460
Balance	(28,183)	(28,898)	(28,183)	(28,898)
Derivatives
Accumulated Other Comprehensive Income (Loss)
Balance			(86)	905
Other comprehensive income (loss) before reclassifications			(759)	(2)
Amounts reclassified from other comprehensive income (loss)			70	(675)
Total other comprehensive income (loss)			(689)	(677)
Balance	$ (775)	$ 228	$ (775)	$ 228

Accumulated Other Comprehensi47

Accumulated Other Comprehensive Income (Loss) - Amount Reclassified by Component (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Amount Reclassified from Accumulated Other Comprehensive Income (Loss)
Cost of products sold (excluding depreciation and amortization)	$ (85,430)	$ (84,804)	$ (251,552)	$ (256,636)
Income before income tax provision	7,997	17,610	28,308	53,343
Tax (expense) or benefit	(1,612)	(5,504)	(8,569)	(17,596)
Net income	6,385	12,106	19,739	35,747
Reclassified from Accumulated Other Comprehensive Income (Loss)
Amount Reclassified from Accumulated Other Comprehensive Income (Loss)
Net income	(972)	(242)	(2,072)	(682)
Defined Benefit Pension Plan Adjustments
Amount Reclassified from Accumulated Other Comprehensive Income (Loss)
Amounts reclassified net of tax			(2,002)	(1,357)
Defined Benefit Pension Plan Adjustments | Reclassified from Accumulated Other Comprehensive Income (Loss)
Amount Reclassified from Accumulated Other Comprehensive Income (Loss)
Amounts reclassified before tax	(1,566)	(704)	(3,187)	(2,090)
Amounts reclassified, tax (expense) or benefit	586	246	1,185	733
Amounts reclassified net of tax	(980)	(458)	(2,002)	(1,357)
Prior-service costs | Reclassified from Accumulated Other Comprehensive Income (Loss)
Amount Reclassified from Accumulated Other Comprehensive Income (Loss)
Amounts reclassified before tax		(4)		(11)
Actuarial losses | Reclassified from Accumulated Other Comprehensive Income (Loss)
Amount Reclassified from Accumulated Other Comprehensive Income (Loss)
Amounts reclassified before tax	(1,566)	(700)	(3,187)	(2,079)
Derivatives
Amount Reclassified from Accumulated Other Comprehensive Income (Loss)
Amounts reclassified net of tax			(70)	675
Derivatives | Reclassified from Accumulated Other Comprehensive Income (Loss)
Amount Reclassified from Accumulated Other Comprehensive Income (Loss)
Income before income tax provision	30	308	(126)	972
Tax (expense) or benefit	(22)	(92)	56	(297)
Net income	8	216	(70)	675
Derivatives | Reclassified from Accumulated Other Comprehensive Income (Loss) | Foreign exchange contracts
Amount Reclassified from Accumulated Other Comprehensive Income (Loss)
Cost of products sold (excluding depreciation and amortization)	(153)	600	281	1,668
Derivatives | Reclassified from Accumulated Other Comprehensive Income (Loss) | Natural gas contracts
Amount Reclassified from Accumulated Other Comprehensive Income (Loss)
Cost of products sold (excluding depreciation and amortization)	$ 183	$ (292)	$ (407)	$ (696)

Accumulated Other Comprehensi48

Accumulated Other Comprehensive Income (Loss) - Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Defined Benefit Pension Plan Adjustments
Accumulated Other Comprehensive Income (Loss)
Income tax benefit included in accumulated other comprehensive income (loss)	$ 15,800		$ 15,800		$ 17,100
Components of income tax expense (benefit) included in other comprehensive income (loss)
Income tax expense (benefit) included in other comprehensive income (loss)	586	$ 246	1,185	$ 733
Derivatives
Accumulated Other Comprehensive Income (Loss)
Income tax benefit included in accumulated other comprehensive income (loss)	400		400		$ 100
Components of income tax expense (benefit) included in other comprehensive income (loss)
Income tax expense (benefit) included in other comprehensive income (loss)	$ 42	$ (282)	$ (271)	$ (324)

Basic and Diluted Net Income 49

Basic and Diluted Net Income Per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Basic and Diluted Net Income Per Common Share
Net income available to common stockholders	$ 6,385	$ 12,106	$ 19,739	$ 35,747
Weighted Average Shares Outstanding
Basic (in shares)	50,246	51,891	50,260	52,217
Effect of Dilutive Securities (in shares)	738	743	744	828
Diluted (in shares)	50,984	52,634	51,004	53,045
Basic net income per common share (in dollars per share)	$ 0.13	$ 0.23	$ 0.39	$ 0.68
Diluted net income per common share (in dollars per share)	$ 0.13	$ 0.23	$ 0.39	$ 0.67
Stock based compensation awards excluded from the dilutive calculations as the effect would have been antidilutive (in shares)	1,300	800	1,300	800

Income Taxes - Effective Rate D

Income Taxes - Effective Rate Differences (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Differences between the U.S. federal statutory tax rate and the effective income tax rate
Effective income tax rate (as a percent)	20.20%	31.30%	30.30%	33.00%
U.S. federal statutory rate (as a percent)	35.00%	35.00%	35.00%	35.00%

Commitments and Contingencies -

Commitments and Contingencies - Environmental and Anti-Dumping (Details) $ in Millions

Sep. 01, 2016$ / lb

May 25, 2016$ / lb

May 02, 2016company$ / lb

Oct. 05, 2015$ / lb

Nov. 19, 2014$ / lb

Jan. 09, 2014$ / lb

Oct. 31, 2011USD ($)$ / lb

Sep. 30, 2016USD ($)$ / lb

Oct. 31, 2015company

Feb. 28, 2013

Sep. 30, 2016USD ($)itemperiod

Dec. 31, 2015USD ($)

Waterlink's Columbus, Ohio property | Accrued pension and other liabilities

Contingencies

Recorded liability for environmental loss contingencies | $

$ 0.3

$ 0.3

$ 0.3

Big Sandy Plant

Contingencies

Number of ground water monitoring wells installed | item

2

Recorded liability for environmental loss contingencies | $

$ 0

$ 0

$ 0

Period of Review III

Contingencies

Ongoing duty deposit rate (as a percent)

0

0

Receivable recorded for anticipated refunds of anti-dumping duties | $

$ 1.1

Tariff collection rate for cooperative respondents (in dollars per pound)

0

0.127

Number of separate rate respondents that challenged the results of the administrative review | company

3

Anti-dumping margins for separate rate respondents (in dollars per pound)

0

Period of Review VI

Contingencies

Anti-dumping margins for mandatory respondents (in dollars per pound)

0.23

0.018

Anti-dumping margins for separate rate respondents (in dollars per pound)

0.23

0.018

China-wide rate (in dollars per pound)

1.10

Period of Review VI | Calgon Carbon Tianjin

Contingencies

Anti-dumping margins for separate rate respondents (in dollars per pound)

0.018

Period of Review VII

Contingencies

Anti-dumping margins for separate rate respondents (in dollars per pound)

0.476

Number of mandatory respondents challenging the results of the administrative review | company

1

Period of Review VII | Minimum

Contingencies

Anti-dumping margins for mandatory respondents (in dollars per pound)

0

Period of Review VII | Maximum

Contingencies

Anti-dumping margins for mandatory respondents (in dollars per pound)

0.476

Period of Review VIII

Contingencies

Anti-dumping margins for separate rate respondents (in dollars per pound)

0.616

Period of Review VIII | Minimum

Contingencies

Anti-dumping margins for mandatory respondents (in dollars per pound)

0.009

Period of Review VIII | Maximum

Contingencies

Anti-dumping margins for mandatory respondents (in dollars per pound)

0.797

Carbon Imports - Anti-dumping duties

Contingencies

Import duty (in dollars per pound)

0.616

Prior period over which Commerce Department reviews anti-dumping tariffs

12 months

Number of periods of review | period

9

Carbon Imports - Anti-dumping duties | Minimum

Contingencies

Period for which reviews are possible

5 years

Commitments and Contingencies52

Commitments and Contingencies - Multi-employer Pension Plan (Details) - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Multi-employer pension plan | Payroll and benefits payable
Multi-employer pension plan
Accrued plan liability	$ 1.1	$ 0.9

Supplemental Cash Flow Inform53

Supplemental Cash Flow Information (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Supplemental Cash Flow Information
Non-cash increase (decrease) in accounts payable and accrued liabilities for changes in unpaid capital expenditures	$ 0.4	$ (0.2)

Segment Information - Results o

Segment Information - Results of Operations (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)segment	Sep. 30, 2015USD ($)
Segment Information
Number of reportable segments | segment			3
Net Sales	$ 123,970	$ 132,976	$ 376,766	$ 404,131
Income (loss) from operations	9,293	16,968	29,927	54,053
Interest income		6	35	51
Interest expense	(538)	(254)	(1,099)	(500)
Other income (expense) — net	(758)	890	(555)	(261)
Income before income tax provision	7,997	17,610	28,308	53,343
Depreciation and amortization	9,082	8,624	27,318	25,788
Activated Carbon and Service
Segment Information
Net Sales	112,504	121,330	339,861	367,644
Income (loss) from operations	9,669	18,054	31,328	55,696
Depreciation and amortization	8,586	7,954	25,630	23,461
Equipment
Segment Information
Net Sales	9,784	9,659	30,094	30,003
Income (loss) from operations	(543)	(1,278)	(2,390)	(2,680)
Depreciation and amortization	357	514	1,246	1,864
Consumer
Segment Information
Net Sales	1,682	1,987	6,811	6,484
Income (loss) from operations	167	192	989	1,037
Depreciation and amortization	$ 139	$ 156	$ 442	$ 463

Government Grants (Details)

Government Grants (Details) - Suzhou Wuzhong Economics Development Zone (WEDZ) Incentive ¥ in Thousands, $ in Millions	May 17, 2016CNY (¥)	May 17, 2016USD ($)	Dec. 19, 2014CNY (¥)item	Dec. 19, 2014USD ($)item	Dec. 31, 2014CNY (¥)	Dec. 31, 2014USD ($)	Sep. 30, 2016USD ($)	Dec. 31, 2015USD ($)
Government Grants
Incentive received	¥ 3,860	$ 0.6	¥ 3,860	$ 0.6
Number of phases within which the construction of carbon reactivation lines has been committed to be completed			2	2
Number of reactivation lines to be constructed under each phase			2	2
Accrued pension and other liabilities
Government Grants
Portion of incentive that relates to remaining construction commitment | $							$ 0.9	$ 0.3
Other expense - net
Government Grants
Incentive recognized					¥ 1,930	$ 0.3

Acquisition (Details)

Acquisition (Details) € in Millions, $ in Millions	Nov. 02, 2016EUR (€)employee	Nov. 02, 2016USD ($)employee
Activated Carbon and Filter Aid Business
Purchase of assets and business
Sales in last annual period | €	€ 93.2
Cash paid	140.7	$ 153
Liabilities assumed	€ 6.5	$ 7.1
Activated Carbon and Filter Aid Business
Purchase of assets and business
Number of employees | employee	300	300