Tredegar (TG) 10-Q 2 Aug 17 2017 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2017	Jul. 28, 2017
Document And Entity Information [Abstract]
Entity Registrant Name	TREDEGAR CORP
Entity Central Index Key	850,429
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Document Type	10-Q
Document Period End Date	Jun. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus (Q1,Q2,Q3,FY)	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding		33,030,190

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 24,026	$ 29,511
Accounts and other receivables, net of allowance for doubtful accounts and sales returns of $2,694 in 2017 and $3,102 in 2016	129,164	97,388
Income Taxes Receivable, Current	13,691	7,518
Inventories	84,359	66,069
Prepaid expenses and other	7,176	7,738
Total current assets	258,416	208,224
Property, plant and equipment, at cost	861,363	797,630
Less accumulated depreciation	(556,833)	(536,905)
Net property, plant and equipment	304,530	260,725
Intangible Assets, Net (Including Goodwill)	189,442	151,423
Other assets and deferred charges	55,573	30,790
Total assets	807,961	651,162
Current liabilities:
Accounts payable	95,706	81,342
Accrued expenses	38,323	38,647
Total current liabilities	134,029	119,989
Long-term debt	187,250	95,000
Deferred income taxes	25,717	21,110
Other noncurrent liabilities	101,537	104,280
Total liabilities	448,533	340,379
Commitments and contingencies (Notes 1 and 12)
Shareholders’ equity:
Common stock, no par value (issued and outstanding - 33,030,190 at June 30, 2017 and 32,933,807 at December 31, 2016)	33,505	32,007
Common stock held in trust for savings restoration plan (70,390 shares at June 30, 2017 and 69,622 shares at December 31, 2016)	(1,512)	(1,497)
Foreign currency translation adjustment	(91,296)	(93,970)
Gain on derivative financial instruments	825	863
Pension and other post-retirement benefit adjustments	(86,227)	(90,127)
Retained earnings	504,133	463,507
Total shareholders’ equity	359,428	310,783
Total liabilities and shareholders’ equity	$ 807,961	$ 651,162

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Accounts and other receivables, allowance for doubtful accounts and sales returns	$ 2,694	$ 3,102
Common stock, no par value
Common stock, shares issued	33,030,190	32,933,807
Common stock, shares outstanding	33,030,190	32,933,807
Common Stock, Shares Held in Employee Trust, Shares	70,390	69,622

Consolidated Statements Of Inco

Consolidated Statements Of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Revenues and other items:
Sales	$ 247,347	$ 208,533	$ 468,372	$ 415,867
Other income (expense), net	34,735	322	38,022	1,092
Total revenues, net of other expenses	282,082	208,855	506,394	416,959
Costs and expenses:
Cost of goods sold	197,372	169,830	379,220	332,882
Freight	7,912	7,066	16,218	14,067
Selling, general and administrative	21,730	19,782	42,224	39,644
Research and development	5,014	4,962	9,572	9,939
Amortization of intangibles	1,652	990	2,893	1,946
Interest expense	1,642	947	2,822	2,032
Asset impairments and costs associated with exit and disposal activities, net of adjustments	(271)	553	293	1,226
Total	235,051	204,130	453,242	401,736
Income before income taxes	47,031	4,725	53,152	15,223
Income taxes from continuing operations	2,827	1,317	5,246	4,533
Net income	$ 44,204	$ 3,408	$ 47,906	$ 10,690
Basic
Basic	$ 1.34	$ 0.10	$ 1.45	$ 0.33
Diluted
Diluted	$ 1.34	$ 0.10	$ 1.45	$ 0.33
Shares used to compute earnings per share:
Basic	32,961	32,716	32,941	32,685
Diluted	33,051	32,716	32,999	32,685
Dividends per share	$ 0.11	$ 0.11	$ 0.22	$ 0.22

Consolidated Statements Of Comp

Consolidated Statements Of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Statement of Comprehensive Income [Abstract]
Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Tax	$ 173	$ 270	$ 230	$ (230)
Net income	44,204	3,408	47,906	10,690
Other comprehensive income (loss):
Foreign currency translation adjustment	(1,958)	11,069	2,674	23,648
Derivative financial instruments adjustment	(412)	755	(38)	1,017
Amortization of prior service costs and net gains or losses	1,950	2,125	3,900	4,607
Other comprehensive income (loss)	(420)	13,949	6,536	29,272
Comprehensive income (loss)	43,784	17,357	54,442	39,962
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Tax	(248)	(442)	(24)	598
Other Comprehensive (Income) Loss, Reclassification Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, Tax	$ 1,111	$ 1,211	$ 2,222	$ 2,066

Consolidated Statements Of Com6

Consolidated Statements Of Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Statement of Comprehensive Income [Abstract]
Foreign currency translation adjustment, tax (benefit)	$ 173	$ 270	$ 230	$ (230)
Derivative financial instruments adjustment, tax (benefit)	(248)	(442)	(24)	598
Amortization of prior service costs and net gains or losses, tax	$ 1,111	$ 1,211	$ 2,222	$ 2,066

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Cash flows from operating activities:
Net income	$ 47,906	$ 10,690
Adjustments for noncash items:
Depreciation	15,993	13,847
Amortization of intangibles	2,893	1,946
Pension and Other Postretirement Benefit Contributions	(2,106)	(1,077)
Deferred income taxes	2,000	(3,563)
Accrued pension and post-retirement benefits	5,264	5,759
(Gain)/loss on investment accounted for under the fair value method	(24,800)	(1,100)
(Gain)/loss on asset impairments and divestitures	50	339
Gain (Loss) on Disposition of Assets	(307)	0
Changes in assets and liabilities, net of effects of acquisitions and divestitures:
Accounts and other receivables	(20,197)	(4,278)
Inventories	(7,261)	1,490
Income taxes recoverable/payable	(6,120)	(1,099)
Prepaid expenses and other	735	(737)
Accounts payable and accrued expenses	6,178	(5,554)
Other, net	1,126	1,600
Net cash provided by operating activities	21,968	18,263
Cash flows from investing activities:
Capital expenditures	(26,692)	(19,018)
Acquisition, net of cash acquired	(87,110)	0
Proceeds from the sale of assets and other	95	1,104
Net cash used in investing activities	(113,707)	(17,914)
Cash flows from financing activities:
Borrowings	148,750	28,500
Debt principal payments	(56,500)	(38,500)
Dividends paid	(7,268)	(7,213)
Payments of Debt Issuance Costs	0	(2,508)
Proceeds from exercise of stock options and other	695	(118)
Net cash provided by (used) in financing activities	85,677	(19,839)
Effect of exchange rate changes on cash	577	2,831
Decrease in cash and cash equivalents	(5,485)	(16,659)
Cash and cash equivalents at beginning of period	29,511	44,156
Cash and cash equivalents at end of period	$ 24,026	$ 27,497

Consolidated Statements Of Shar

Consolidated Statements Of Shareholders' Equity - 6 months ended Jun. 30, 2017 - USD ($) $ in Thousands	Total	Common Stock	Retained Earnings	Trust for Savings Restoration Plan	Foreign Currency Translation	Gain (Loss) on Derivative Financial Instruments	Pension & Other Post-retirement Benefit Adjust.
Beginning Balance at Dec. 31, 2016	$ 310,783	$ 32,007	$ 463,507	$ (1,497)	$ (93,970)	$ 863	$ (90,127)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	47,906		47,906
Foreign currency translation adjustment (net of tax of $230)	2,674				2,674
Derivative financial instruments adjustment (net of tax benefit of $24)	(38)					(38)
Amortization of prior service costs and net gains or losses (net of tax of $2,222)	3,900						3,900
Cash dividends declared ($0.22 per share)	(7,268)		(7,268)
Stock-based compensation expense	776	776
Issued upon exercise of stock options & other	695	695
Cumulative effect adjustment for adoption of stock-based comp accounting guidance - APIC Adjustment		27
Cumulative effect adjustment for adoption of stock-based comp accounting guidance - RE Adjustment			(27)
Tredegar common stock purchased by trust for savings restoration plan			15	(15)
Ending Balance at Jun. 30, 2017	$ 359,428	$ 33,505	$ 504,133	$ (1,512)	$ (91,296)	$ 825	$ (86,227)

Consolidated Statements Of Sha9

Consolidated Statements Of Shareholders' Equity (Parenthetical) $ in Thousands	6 Months Ended
	Jun. 30, 2017USD ($)$ / shares
Statement of Stockholders' Equity [Abstract]
Foreign currency translation adjustment, tax (benefit)	$ 230
Derivative financial instruments adjustment, tax (benefit)	(24)
Amortization of prior service costs and net gains or losses, tax	$ 2,222
Cash dividends declared, per share | $ / shares	$ 0.22

Basis Of Presentation

Basis Of Presentation	6 Months Ended
	Jun. 30, 2017
Basis Of Presentation [Abstract]
Basis Of Presentation	In the opinion of management, the accompanying consolidated financial statements of Tredegar Corporation and its subsidiaries (“Tredegar,” “the Company,” “we,” “us” or “our”) contain all adjustments necessary to state fairly, in all material respects, Tredegar’s consolidated financial position as of June 30, 2017 , the consolidated results of operations for the three and six months ended June 30, 2017 and 2016 , the consolidated cash flows for the six months ended June 30, 2017 and 2016 , and the consolidated changes in shareholders’ equity for the six months ended June 30, 2017 . All such adjustments, unless otherwise detailed in the notes to the consolidated interim financial statements, are deemed to be of a normal, recurring nature. The Company operates on a calendar fiscal year except for the Aluminum Extrusions segment, which operates on a 52/53-week fiscal year basis. As such, the fiscal second quarter for 2017 and 2016 for this segment references 13-week periods ended June 25, 2017 and June 26, 2016, respectively. The Company does not believe the impact of reporting the results of this segment as stated above is material to the consolidated financial results. The financial position data as of December 31, 2016 that is included herein was derived from the audited consolidated financial statements provided in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016 (“ 2016 Form 10-K”) but does not include all disclosures required by United States generally accepted accounting principles (“GAAP”). These financial statements should be read in conjunction with the consolidated financial statements and related notes included in the Company’s 2016 Form 10-K. The results of operations for the three and six months ended June 30, 2017 , are not necessarily indicative of the results to be expected for the full year. Certain prior year balances have been reclassified to conform with current year presentation (see Note 13 for additional detail).

Acquisitions

Acquisitions	6 Months Ended
	Jun. 30, 2017
Business Combinations [Abstract]
Acquisitions	On February 15, 2017, Bonnell Aluminum acquired 100% of the stock of Futura Industries Corporation (“Futura”) on a net debt-free basis for approximately $92 million (the “Initial Purchase Price”). The amount actually funded in cash at the transaction date was approximately $87.0 million (the “Initial Cash Funding”), which was the Initial Purchase Price net of preliminary closing adjustments for working capital and seller transaction-related obligations assumed and subsequently paid by Bonnell Aluminum. The acquisition, which was funded using Tredegar’s existing revolving credit facility, was treated as an asset purchase for U.S. federal income tax purposes. Futura, headquartered in Clearfield, Utah, with a national sales presence and particular strength in the western U.S., designs and manufactures a wide range of extruded aluminum products, including branded flooring trims and TSLOTS TM , as well as OEM (original equipment manufacturer) components for truck grills, solar panels, fitness equipment and other applications. As a result of this transaction, Futura is now a wholly-owned subsidiary of the William L. Bonnell Company, Inc. (which is a wholly-owned subsidiary of Tredegar) and operates as a division of Bonnell Aluminum, and its results of operations are included in Tredegar’s consolidated financial statements from the date of acquisition. Under the terms of the transaction, $5 million of the Initial Cash Funding was placed in escrow (the “Earnout Escrow”) and will be returned to Bonnell Aluminum if Futura does not achieve a targeted EBITDA level (as defined) for the last eleven months of the fiscal year ending December 2017. At the acquisition date, the Company performed a probability weighted assessment in order to determine the fair value of this contingent asset. The assessment estimated a fair value of $4.3 million , which would be returned to Bonnell Aluminum in early 2018, and accordingly, a receivable of $4.3 million (“Initial Earnout Receivable”) was recorded by Bonnell Aluminum. In the second quarter of 2017, the Company updated its valuation of this contingent asset, which resulted in a fair value of $5.0 million . The receivable was increased to $5.0 million , and $0.7 million was recognized as income in Other income (expense), net in the Consolidated Statements of Income. The net purchase price for financial reporting purposes was set at approximately $82.9 million (the “Adjusted Net Purchase Price”), which was the Initial Cash Funding less the Initial Earnout Receivable and the net settlement of certain post-closing adjustments of $0.1 million paid to the seller during the second quarter of 2017. Adjustments to the purchase price were made retrospectively as if the accounting had been completed on the acquisition date. Based upon management’s valuation of the fair value of tangible and intangible assets acquired (net of cash acquired) and liabilities assumed, the allocation of the Adjusted Net Purchase Price is as follows: (in Thousands) Accounts receivable $ 6,680 Inventories 10,342 Prepaid expenses and other current assets 240 Property, plant & equipment 32,662 Identifiable intangible assets: Customer relationships 24,000 Trade names 6,700 Trade payables & accrued expenses (8,135 ) Total identifiable net assets 72,489 Adjusted Net Purchase Price 82,860 Goodwill $ 10,371 The goodwill and other intangible asset balances associated with this acquisition will be deductible for tax purposes on a straight-line basis over a period of approximately 15 years. For financial reporting purposes, customer relationships are being amortized over 12 years and trade names are being amortized over 13 years. Goodwill is not subject to amortization for financial reporting purposes. Customer relationships were valued using the excess earnings approach. Trade names were valued using a relief-from-royalty approach. The Company does not anticipate marketing Futura’s products under a different brand in light of its strong name recognition and competitive advantage in its target markets. For the three and six month periods ended June 30, 2017 (for Futura, the period from the acquisition on February 15, 2017 to June 30, 2017 ), Tredegar’s consolidated results of operations and its Aluminum Extrusions business segment included the following Futura results: sales of $22.5 million and $30.8 million , respectively, operating profit from ongoing operations of $2.8 million and $3.8 million , respectively, depreciation and amortization of $1.4 million and $1.9 million , respectively, and capital expenditures of $0.5 million and $0.9 million , respectively. The following unaudited supplemental pro forma data presents Tredegar’s consolidated sales, net income and related earnings per share as if the acquisition of Futura had been consummated at the beginning of 2016, and is not necessarily indicative of the Company’s financial performance if the acquisition had actually been consummated as of that date, or of future performance. The supplemental unaudited pro forma measures for the three and six months ended June 30, 2017 and 2016 are presented below: Tredegar Pro Forma Results with Futura Acquisition Three Months Ended Six Months Ended June 30, June 30, (In Thousands, Except Per Share Data) 2017 2016 2017 2016 Sales $ 247,347 $ 226,849 $ 475,383 $ 453,510 Net income $ 44,204 $ 4,202 $ 47,562 $ 12,334 Earnings per share: Basic $ 1.34 $ 0.13 $ 1.44 $ 0.38 Diluted $ 1.34 $ 0.13 $ 1.44 $ 0.38 Futura’s pre-acquisition results for the period from January 1 to February 14, 2017, and therefore the pro forma information for 2017 presented above, were adversely impacted by significant disruptions to manufacturing operations and sales caused by the renovation of its anodizing line. The actual accretion to Tredegar’s diluted earnings per share from Futura since the acquisition date was four cents per share f or the second quarter of 2017 and five cents per share for the first six months of 2017. The Company’s pro forma net income was computed for the periods shown as: (i) the Company’s reported net income, plus (ii) Futura’s historical pre-acquisition period earnings before interest, taxes, depreciation and amortization and excluding one-time purchase accounting and transaction-related expenses, minus (iii) the pro forma pre-acquisition period depreciation and amortization for Futura under purchase accounting for the Company, minus (iv) the pro forma pre-acquisition period interest expense for the Company applied at an annual rate of 3.0% to the $87.0 million Initial Cash Funding, minus (v) the pro forma pre-acquisition period income taxes applied at a rate of 39.1% to the pro forma pre-acquisition earnings before income taxes computed from items (ii) through (iv).

Plants Shutdowns, Asset Impairm

Plants Shutdowns, Asset Impairments, Restructurings And Other	6 Months Ended
	Jun. 30, 2017
Restructuring Charges [Abstract]
Plant Shutdowns, Asset Impairments, Restructurings And Other	Plant shutdowns, asset impairments, restructurings and other items are shown in the net sales and operating profit by segment table in Note 10 and are also included in “Asset impairments and costs associated with exit and disposal activities, net of adjustments” in the consolidated statements of income, unless otherwise noted below. Plant shutdowns, asset impairments, restructurings and other items in the second quarter of 2017 include: • Pretax income of $11.9 million related to the settlement of an escrow arrangement established upon the acquisition of Terphane in 2011 (included in “Other income (expense), net” in the consolidated statements of income). In settling the escrow arrangement, the Company assumed the risk of the claims (and associated legal fees) against which the escrow previously secured the Company. While the ultimate amount of such claims is unknown, the Company believes that it is reasonably possible that it could be liable for some portion of these claims, and currently estimates the amount of such future claims at approximately $3.5 million ; • Pretax charges of $1.0 million related to estimated excess costs associated with the ramp-up of new product offerings and additional expenses related to strategic capacity expansion projects by PE Films of $0.9 million and by Bonnell of $0.1 million (included in “Cost of goods sold” in the consolidated statements of income); • Pretax income of $0.9 million related to the explosion that occurred in the second quarter of 2016 at the aluminum extrusions manufacturing facility in Newnan, Georgia, for the expected recovery of excess production costs of $0.6 million incurred in 2016 and $0.3 million incurred in the first quarter of 2017 for which recovery from insurance carriers was not previously considered to be reasonably assured (included in “Cost of goods sold” in the consolidated statements of income); • Pretax income of $0.7 million related to the fair valuation of an earnout provision from the acquisition of Futura (included in “Other income (expense), net” in the consolidated statements of income); • Pretax charges of $0.6 million associated with a business development project (included in “Selling, general and administrative expense” in the consolidated statements of income); and • Pretax charges of $0.3 million associated with the consolidation of domestic PE Films’ manufacturing facilities, which consists of facility consolidation-related expenses of $0.2 million and accelerated depreciation of $0.1 million (included in “Cost of goods sold” in the consolidated statements of income), offset by pretax income of $0.3 million related to a reduction of severance and other employee-related accrued costs. Plant shutdowns, asset impairments, restructurings and other items in the first six months of 2017 include: • Pretax income of $11.9 million related to the settlement of an escrow arrangement established upon the acquisition of Terphane in 2011 (included in “Other income (expense), net” in the consolidated statements of income). In settling the escrow arrangement, the Company assumed the risk of the claims (and associated legal fees) against which the escrow previously secured the Company. While the ultimate amount of such claims is unknown, the Company believes that it is reasonably possible that it could be liable for some portion of these claims, and currently estimates the amount of such future claims at approximately $3.5 million ; • Pretax charges of $3.3 million related to the acquisition of Futura, i) associated with accounting adjustments of $1.7 million made to the value of inventory sold by Aluminum Extrusions after its acquisition of Futura (included in “Cost of goods sold” in the consolidated statements of income), ii) acquisition costs of $1.5 million and, iii) integration costs of $0.1 million (included in “Selling, general and administrative expenses” in the consolidated statements of income), offset by pretax income of $0.7 million related to the fair valuation of an earnout provision (included in “Other income (expense), net” in the consolidated statements of income); • Pretax charges of $2.8 million related to estimated excess costs associated with the ramp-up of new product offerings and additional expenses related to strategic capacity expansion projects by PE Films of $2.4 million and by Aluminum Extrusions of $0.4 million (included in “Cost of goods sold” in the consolidated statements of income); • Pretax income of $0.5 million related to the explosion that occurred in the second quarter of 2016 at the aluminum extrusions manufacturing facility in Newnan, Georgia, which includes the expected recovery of excess production costs of $0.6 million incurred in 2016 for which recovery from insurance carriers was not previously considered to be reasonably assured (included in “Cost of goods sold” in the consolidated statements of income), partially offset by legal and consulting fees of $0.1 million (included in “Selling, general and administrative expenses” in the consolidated statements of income). • Pretax charges of $0.7 million associated with the consolidation of domestic PE Films’ manufacturing facilities, which consists of asset impairments of $0.1 million , accelerated depreciation of $0.2 million (included in “Cost of goods sold” in the consolidated statements of income) and other facility consolidation-related expenses of $0.4 million ( $0.3 million included in “Cost of goods sold” in the consolidated statements of income), offset by pretax income of $0.1 million related to a reduction of severance and other employee-related accrued costs; • Pretax charges of $0.3 million related to expected future environmental costs at the aluminum extrusions manufacturing facility in Carthage, Tennessee (included in “Cost of goods sold” in the consolidated statements of income); • Pretax charges of $0.9 million associated with a business development project (included in “Selling, general and administrative expense” in the consolidated statements of income); and • Pretax charges of $0.3 million for severance and other employee-related costs associated with restructurings in Corporate. Plant shutdowns, asset impairments, restructurings and other charges in the second quarter of 2016 include: • Pretax charges of $1.4 million associated with the consolidation of domestic PE Films’ manufacturing facilities, which includes severance and other employee-related costs of $0.4 million , asset impairments of $0.1 million , accelerated depreciation of $0.1 million (included in “Cost of goods sold” in the consolidated statements of income) and other facility consolidation-related expenses of $0.8 million ( $0.7 million is included in “Cost of goods sold” in the consolidated statements of income); and • Pretax charges of $0.6 million related to an explosion that occurred in the second quarter of 2016 at the aluminum extrusions manufacturing facility in Newnan, Georgia (included in “Selling, general and administrative expense” in the consolidated statements of income). Plant shutdowns, asset impairments, restructurings and other charges in the first six months of 2016 include: • Pretax charges of $2.5 million associated with the consolidation of domestic PE Films’ manufacturing facilities, which includes severance and other employee-related costs of $0.7 million , asset impairments of $0.3 million , accelerated depreciation of $0.2 million (included in “Cost of goods sold” in the consolidated statements of income) and other facility consolidation-related expenses of $1.3 million ( $1.1 million is included in “Cost of goods sold” in the consolidated statements of income); • Pretax charges of $0.6 million related to an explosion that occurred in the second quarter of 2016 at the aluminum extrusions manufacturing facility in Newnan, Georgia (included in “Selling, general and administrative expense” in the consolidated statements of income); and • Pretax charges of $0.4 million associated with a business development project (included in “Selling, general and administrative expense” in the consolidated statements of income). Results in the second quarter and first six months of 2017 include unrealized gains of $21.5 million ( $15.7 million after taxes) and $24.8 million ( $18.2 million after taxes), respectively, compared to unrealized gains of $0.3 million ( $0.2 million after taxes) and $1.1 million ( $0.8 million after taxes), in the second quarter and first six months of 2016 , respectively, on the Company’s investment in kaleo, Inc. (“kaléo”), which is accounted for under the fair value method (included in “Other income (expense), net” in the consolidated statements of income). The change in the estimated fair value of the Company’s holding in kaléo was based primarily on changes in projected future cash flows that are discounted at 45% for their high degree of risk. See Note 7 for additional information on investments. A reconciliation of the beginning and ending balances of accrued expenses associated with exit and disposal activities and charges associated with asset impairments and reported as “Asset impairments and costs associated with exit and disposal activities, net of adjustments” in the consolidated statements of income for the six months ended June 30, 2017 is as follows: (In Thousands) Severance Asset Impairments Other (a) Total Balance at January 1, 2017 $ 1,854 $ — $ 554 $ 2,408 Changes in 2017: Charges 172 50 71 293 Cash spent (482 ) — (76 ) (558 ) Charges against assets — (50 ) — (50 ) Balance at June 30, 2017 $ 1,544 $ — $ 549 $ 2,093 (a) Other includes other facility consolidation-related costs associated with the consolidation of North American PE Films manufacturing facilities and other shutdown-related costs associated with the shutdown and sale of the Company’s aluminum extrusions manufacturing facility in Kentland, Indiana. In July 2015, the Company announced its intention to consolidate its domestic production for PE Films by restructuring the operations in its manufacturing facility in Lake Zurich, Illinois. Efforts to transition domestic production from the Lake Zurich manufacturing facility have required various machinery upgrades and equipment transfers to its other manufacturing facilities. The Company anticipates that these activities will be completed in the fourth quarter of 2017. Total pretax cash expenditures associated with this restructuring and consolidation are expected to be approximately $17 million over the project period, and once complete, annual pretax cash cost savings are expected to be approximately $5-6 million. Total expenses associated with the North American facility consolidation project were $0.6 million in the first six months of 2017 (included in “Cost of goods sold” in the consolidated statements of income). As of June 30, 2017 , total expenses incurred since the project began in the third quarter of 2015 were $7.1 million . Total estimated cash expenditures of $17 million over the project period include the following: • Cash outlays associated with previously discussed exit and disposal expenses of approximately $5 million , including additional operating expenses of approximately $1 million associated with customer product qualifications on upgraded and transferred production lines; • Capital expenditures associated with equipment upgrades at other PE Films manufacturing facilities in the U.S. of approximately $11 million ; and • Cash incentives of approximately $1 million in connection with meeting safety and quality standards while production ramps down at the Lake Zurich manufacturing facility. Cash expenditures for the North American facility consolidation project were $0.5 million in the first six months of 2017 , which includes capital expenditures of $0.1 million . As of June 30, 2017 , total cash expenditures since the project began in the third quarter of 2015 were $14.4 million , which includes $11.2 million for capital expenditures.

Inventories

Inventories	6 Months Ended
	Jun. 30, 2017
Inventory, Net [Abstract]
Inventories	The components of inventories are as follows: June 30, December 31, (In Thousands) 2017 2016 Finished goods $ 22,602 $ 16,215 Work-in-process 10,598 8,590 Raw materials 32,888 23,733 Stores, supplies and other 18,271 17,531 Total $ 84,359 $ 66,069

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2017
Earnings Per Share [Abstract]
Earnings Per Share	Basic earnings per share is computed by dividing net income by the weighted average number of shares of common stock outstanding. Diluted earnings per share is computed by dividing net income by the weighted average common and potentially dilutive common equivalent shares outstanding, determined as follows: Three Months Ended Six Months Ended June 30, June 30, (In Thousands) 2017 2016 2017 2016 Weighted average shares outstanding used to compute basic earnings per share 32,961 32,716 32,941 32,685 Incremental dilutive shares attributable to stock options and restricted stock 90 — 58 — Shares used to compute diluted earnings per share 33,051 32,716 32,999 32,685 Incremental shares attributable to stock options and restricted stock are computed under the treasury stock method using the average market price during the related period.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	6 Months Ended
	Jun. 30, 2017
Accumulated Other Comprehensive Income (Loss) [Line Items]
Comprehensive Income (Loss) Note [Text Block]	The following table summarizes the after-tax changes in accumulated other comprehensive income (loss) for the six months ended June 30, 2017 : (In Thousands) Foreign currency translation adjustment Gain (loss) on derivative financial instruments Pension and other post-retirement benefit adjustments Total Beginning balance, January 1, 2017 $ (93,970 ) $ 863 $ (90,127 ) $ (183,234 ) Other comprehensive income (loss) before reclassifications 2,674 335 — 3,009 Amounts reclassified from accumulated other comprehensive income (loss) — (373 ) 3,900 3,527 Net other comprehensive income (loss) - current period 2,674 (38 ) 3,900 6,536 Ending balance, June 30, 2017 $ (91,296 ) $ 825 $ (86,227 ) $ (176,698 ) The following table summarizes the after-tax changes in accumulated other comprehensive income (loss) for the six months ended June 30, 2016 : (In Thousands) Foreign Gain (loss) on Pension and Total Beginning balance, January 1, 2016 $ (112,807 ) $ (373 ) $ (95,539 ) $ (208,719 ) Other comprehensive income (loss) before reclassifications 23,648 86 — 23,734 Amounts reclassified from accumulated other comprehensive income (loss) — 931 4,607 5,538 Net other comprehensive income (loss) - current period 23,648 1,017 4,607 29,272 Ending balance, June 30, 2016 $ (89,159 ) $ 644 $ (90,932 ) $ (179,447 ) Reclassifications of balances out of accumulated other comprehensive income (loss) into net income (loss) for the three months ended June 30, 2017 are summarized as follows: (In Thousands) Amount Location of gain Gain (loss) on derivative financial instruments: Aluminum future contracts, before taxes $ 321 Cost of sales Foreign currency forward contracts, before taxes 16 Cost of sales Total, before taxes 337 Income tax expense (benefit) 125 Income taxes Total, net of tax $ 212 Amortization of pension and other post-retirement benefits: Actuarial gain (loss) and prior service costs, before taxes $ (3,061 ) (a) Income tax expense (benefit) (1,111 ) Income taxes Total, net of tax $ (1,950 ) (a) This component of accumulated other comprehensive income (loss) is included in the computation of net periodic pension cost (see Note 9 for additional detail). Reclassifications of balances out of accumulated other comprehensive income (loss) into net income (loss) for the six months ended June 30, 2017 are summarized as follows: (In Thousands) Amount Location of gain Gain (loss) on derivative financial instruments: Aluminum future contracts, before taxes $ 554 Cost of sales Foreign currency forward contracts, before taxes 31 Cost of sales Total, before taxes 585 Income tax expense (benefit) 212 Income taxes Total, net of tax $ 373 Amortization of pension and other post-retirement benefits: Actuarial gain (loss) and prior service costs, before taxes $ (6,122 ) (a) Income tax expense (benefit) (2,222 ) Income taxes Total, net of tax $ (3,900 ) (a) This component of accumulated other comprehensive income (loss) is included in the computation of net periodic pension cost (see Note 9 for additional detail). Reclassifications of balances out of accumulated other comprehensive income (loss) into net income (loss) for the three months ended June 30, 2016 are summarized as follows: (In Thousands) Amount Location of gain Gain (loss) on derivative financial instruments: Aluminum future contracts, before taxes $ (525 ) Cost of sales Foreign currency forward contracts, before taxes 16 Cost of sales Total, before taxes (509 ) Income tax expense (benefit) (182 ) Income taxes Total, net of tax $ (327 ) Amortization of pension and other post-retirement benefits: Actuarial gain (loss) and prior service costs, before taxes $ (3,336 ) (a) Income tax expense (benefit) (1,211 ) Income taxes Total, net of tax $ (2,125 ) (a) This component of accumulated other comprehensive income (loss) is included in the computation of net periodic pension cost (see Note 9 for additional detail). Reclassifications of balances out of accumulated other comprehensive income (loss) into net income (loss) for the six months ended June 30, 2016 are summarized as follows: (In Thousands) Amount Location of gain Gain (loss) on derivative financial instruments: Aluminum future contracts, before taxes $ (1,509 ) Cost of sales Foreign currency forward contracts, before taxes 31 Cost of sales Total, before taxes (1,478 ) Income tax expense (benefit) (547 ) Income taxes Total, net of tax $ (931 ) Amortization of pension and other post-retirement benefits: Actuarial gain (loss) and prior service costs, before taxes $ (6,673 ) (a) Income tax expense (benefit) (2,066 ) Income taxes Total, net of tax $ (4,607 ) (a) This component of accumulated other comprehensive income (loss) is included in the computation of net periodic pension cost (see Note 9 for additional detail).
Cost of goods sold	The following table summarizes the after-tax changes in accumulated other comprehensive income (loss) for the six months ended June 30, 2017 : (In Thousands) Foreign currency translation adjustment Gain (loss) on derivative financial instruments Pension and other post-retirement benefit adjustments Total Beginning balance, January 1, 2017 $ (93,970 ) $ 863 $ (90,127 ) $ (183,234 ) Other comprehensive income (loss) before reclassifications 2,674 335 — 3,009 Amounts reclassified from accumulated other comprehensive income (loss) — (373 ) 3,900 3,527 Net other comprehensive income (loss) - current period 2,674 (38 ) 3,900 6,536 Ending balance, June 30, 2017 $ (91,296 ) $ 825 $ (86,227 ) $ (176,698 ) The following table summarizes the after-tax changes in accumulated other comprehensive income (loss) for the six months ended June 30, 2016 : (In Thousands) Foreign Gain (loss) on Pension and Total Beginning balance, January 1, 2016 $ (112,807 ) $ (373 ) $ (95,539 ) $ (208,719 ) Other comprehensive income (loss) before reclassifications 23,648 86 — 23,734 Amounts reclassified from accumulated other comprehensive income (loss) — 931 4,607 5,538 Net other comprehensive income (loss) - current period 23,648 1,017 4,607 29,272 Ending balance, June 30, 2016 $ (89,159 ) $ 644 $ (90,932 ) $ (179,447 )

Investments

Investments	6 Months Ended
	Jun. 30, 2017
Equity Method Investments and Joint Ventures [Abstract]
Investments	In August 2007 and December 2008, the Company made an aggregate investment of $7.5 million in kaléo, a privately held specialty pharmaceutical company dedicated to building innovative solutions for serious and life-threatening medical conditions. Tredegar’s ownership interest on a fully diluted basis was approximately 20% at June 30, 2017 , and the investment is accounted for under the fair value method. At the time of the initial investment, the Company elected the fair value option over the equity method of accounting since its investment objectives were similar to those of venture capitalists, which typically do not have controlling financial interests. The estimated fair value of the investment in kaléo (also the carrying value, which is included in “Other assets and deferred charges” in the consolidated balance sheets) was $45.0 million at June 30, 2017 and $20.2 million at December 31, 2016 . Unrealized gains of $21.5 million and $0.3 million were recognized in the second quarter of 2017 and 2016 , respectively. Unrealized gains of $24.8 million and $1.1 million were recognized in the first six months of 2017 and 2016 , respectively. Unrealized gains (losses) associated with this investment are included in “Other income (expense), net” in the consolidated statements of income and separately stated in the net sales and operating profit by segment table in Note 10. The change in the estimated fair value of the Company’s holding in kaléo in the second quarter of 2017 primarily related to recent favorable operating results and projections. Kaléo’s stock is not publicly traded. In addition, kaléo has not completed a full year of operations since the re-launch of its Auvi-Q ® product during the first quarter of 2017, including the key third quarter back-to-school season. The valuation estimate in this situation is more of an art than a science, and while performed in good faith, is based on projection assumptions or Level 3 inputs that have a wide range of possible outcomes. Consequently, the present value of kaléo’s projected future cash flows is determined at a discount rate of 45% for their high degree of risk. Ultimately, the true value of the Company’s ownership interest in kaléo will be determined if and when a liquidity event occurs, and the ultimate value could be materially different from the $45.0 million estimated fair value reflected in the Company’s financial statements at June 30, 2017 . In addition to the impact on valuation of the possible changes in assumptions, Level 3 inputs and projections from changes in business conditions, the fair market valuation of the Company’s interest in kaléo is sensitive to changes in the weighted average cost of capital used to discount cash flow projections. The weighted average cost of capital used in the fair market valuation of Tredegar’s interest in kaléo was 45% at both June 30, 2017 and December 31, 2016 . At June 30, 2017 , the effect of a 500 basis point decrease in the weighted average cost of capital assumption would have increased the fair value of the Company’s interest in kaléo by approximately $9 million , and a 500 basis point increase in the weighted average cost of capital assumption would have decreased the fair value of the Company’s interest by approximately $8 million . Had the Company not elected to account for its investment under the fair value method, it would have been required to use the equity method of accounting. The condensed balance sheets for kaléo at June 30, 2017 and December 31, 2016 and condensed statements of operations for the three and six months ended June 30, 2017 and 2016 , as reported to the Company by kaléo, are provided below: (In Thousands) June 30, 2017 December 31, 2016 June 30, 2017 December 31, 2016 Assets: Liabilities & Equity: Cash & short-term investments $ 108,740 $ 102,329 Restricted cash 30 31 Current liabilities $ 97,258 $ 50,134 Other current assets 51,125 15,391 Long term debt, net 143,692 143,380 Property & equipment 11,157 13,011 Other noncurrent liabilities 828 822 Other long-term assets 510 472 Equity (70,216 ) (63,102 ) Total assets $ 171,562 $ 131,234 Total liabilities & equity $ 171,562 $ 131,234 Three Months Ended June 30, Six Months Ended June 30, (In Thousands) 2017 2016 2017 2016 Revenues $ 67,451 $ 15,020 $ 89,939 $ 11,970 Cost of goods sold, R&D and SG&A expenses before depreciation & amortization (52,071 ) (15,903 ) (85,339 ) (31,394 ) Depreciation & amortization (1,241 ) (1,437 ) (2,478 ) (2,199 ) Operating income (loss) 14,139 (2,320 ) 2,122 (21,623 ) Gain on contract termination — 58 — 18,075 Net interest expense and other net (4,815 ) (4,844 ) (9,641 ) (9,688 ) Income tax benefit (expense) (490 ) — (490 ) (9 ) Net income (loss) $ 8,834 $ (7,106 ) $ (8,009 ) $ (13,245 ) The Company’s investment in the Harbinger Capital Partners Special Situations Fund, L.P. (“Harbinger Fund”) had a carrying value (included in “Other assets and deferred charges”) of $1.7 million at June 30, 2017 and December 31, 2016 . The carrying value at June 30, 2017 reflected Tredegar’s cost basis in its investment in the Harbinger Fund, net of total withdrawal proceeds received and unrealized losses. No withdrawal proceeds were received in the first six months of 2016 or 2017. The timing and amount of future installments of withdrawal proceeds, which commenced in August 2010, were not known as of June 30, 2017 . Gains on the Company’s investment in the Harbinger Fund will be recognized when the amounts expected to be collected from any withdrawal from the investment are known, which will likely be when cash in excess of the remaining carrying value is received. Losses will be recognized when management believes it is probable that future withdrawal proceeds will not exceed the remaining carrying value.

Derivative Financial Instrument

Derivative Financial Instruments	6 Months Ended
	Jun. 30, 2017
Summary of Derivative Instruments [Abstract]
Derivative Financial Instruments	Tredegar uses derivative financial instruments for the purpose of hedging margin exposure from fixed-price forward sales contracts in Aluminum Extrusions and currency exchange rate exposures that exist as part of ongoing PE Films and Flexible Packaging Films business operations. These derivative financial instruments are designated as and qualify as cash flow hedges and are recognized in the consolidated balance sheet at fair value. The fair value of derivative instruments recorded on the consolidated balance sheets are based upon Level 2 inputs. If individual derivative instruments with the same counterparty can be settled on a net basis, the Company records the corresponding derivative fair values as a net asset or net liability. In the normal course of business, Aluminum Extrusions enters into fixed-price forward sales contracts with certain customers for the future sale of fixed quantities of aluminum extrusions at scheduled intervals. In order to hedge margin exposure created from the fixing of future sales prices relative to volatile raw material (aluminum) costs, Aluminum Extrusions enters into a combination of forward purchase commitments and futures contracts to acquire or hedge aluminum, based on the scheduled purchases for the firm sales commitments. The fixed-price firm sales commitments and related hedging instruments generally have durations of not more than 12 months, and the notional amount of aluminum futures contracts that hedged future purchases of aluminum to meet fixed-price forward sales contract obligations was $8.1 million ( 8.9 million pounds of aluminum) at June 30, 2017 and $8.0 million ( 9.6 million pounds of aluminum) at December 31, 2016 . The table below summarizes the location and gross amounts of aluminum futures contract fair values in the consolidated balance sheets as of June 30, 2017 and December 31, 2016 : June 30, 2017 December 31, 2016 (In Thousands) Balance Sheet Account Fair Value Balance Sheet Account Fair Value Derivatives Designated as Hedging Instruments Asset derivatives: Prepaid expenses and other $ 411 Prepaid expenses and other $ 308 Liability derivatives: Prepaid expenses and other $ (170 ) Prepaid expenses and other $ (37 ) Net asset (liability) $ 241 $ 271 In the event that a counterparty to an aluminum fixed-price forward sales contract chooses not to take delivery of its aluminum extrusions, the customer is contractually obligated to compensate Aluminum Extrusions for any losses on the related aluminum futures and/or forward contracts through the date of cancellation. These derivative contracts involve elements of market risk that are not reflected on the consolidated balance sheet, including the risk of dealing with counterparties and their ability to meet the terms of the contracts. The counterparties to any forward purchase commitments are major aluminum brokers and suppliers, and the counterparties to any aluminum futures contracts are major financial institutions. Fixed-price forward sales contracts are only made available to the best and most credit-worthy customers. The counterparties to our foreign currency futures and zero-cost collar contracts are major financial institutions. The effect on net income (loss) and other comprehensive income (loss) of derivative instruments classified as cash flow hedges and described in the previous paragraphs for the three and six month periods ended June 30, 2017 and 2016 is summarized in the table below: (In Thousands) Cash Flow Derivative Hedges Aluminum Futures Contracts Foreign Currency Forwards Three Months Ended June 30, 2017 2016 2017 2016 Amount of pretax gain (loss) recognized in other comprehensive income (loss) $ (322 ) $ 686 $ — $ — Location of gain (loss) reclassified from accumulated other comprehensive income (loss) into net income (loss) (effective portion) Cost of Cost of Cost of Cost of Amount of pretax gain (loss) reclassified from accumulated other comprehensive income (loss) to net income (loss) (effective portion) $ 321 $ (525 ) $ 16 $ 16 Aluminum Futures Contracts Foreign Currency Forwards Six Months Ended June 30, 2017 2016 2017 2016 Amount of pre-tax gain (loss) recognized in other comprehensive income (loss) $ 524 $ 137 $ — $ — Location of gain (loss) reclassified from accumulated other comprehensive income (loss) into net income (loss) (effective portion) Cost of Cost of Cost of Cost of Amount of pre-tax gain (loss) reclassified from accumulated other comprehensive income (loss) to net income (loss) (effective portion) $ 554 $ (1,509 ) $ 31 $ 31 As of June 30, 2017 , the Company expects $0.2 million of unrealized after-tax gains on derivative instruments reported in accumulated other comprehensive income (loss) to be reclassified to earnings within the next 12 months. For the three and six month periods ended June 30, 2017 and 2016 , net gains or losses realized, from previously unrealized net gains or losses on hedges that had been discontinued, were not material.

Pension And Other Post-Retireme

Pension And Other Post-Retirement Benefits	6 Months Ended
	Jun. 30, 2017
Compensation and Retirement Disclosure [Abstract]
Pension And Other Post-Retirement Benefits	The Company sponsors noncontributory defined benefit (pension) plans covering certain current and former employees. The plan for salaried and hourly employees currently in effect is based on a formula using the participant’s years of service and compensation or using the participant’s years of service and a dollar amount. The plan was closed to new participants and pay for active plan participants for benefit calculations was frozen as of December 31, 2007. With the exception of plan participants at one of Tredegar’s U.S. manufacturing facilities, the plan no longer accrues benefits associated with crediting employees for service, thereby freezing future benefits under the plan. The components of net periodic benefit cost for the pension and other post-retirement benefit programs reflected in consolidated results are shown below: Pension Benefits Other Post-Retirement Benefits Three Months Ended June 30, Three Months Ended June 30, (In Thousands) 2017 2016 2017 2016 Service cost $ 58 $ 52 $ 9 $ 10 Interest cost 3,164 3,365 77 84 Expected return on plan assets (3,737 ) (3,979 ) — — Amortization of prior service costs, gains or losses and net transition asset 3,122 3,384 (62 ) (47 ) Net periodic benefit cost $ 2,607 $ 2,822 $ 24 $ 47 Pension Benefits Other Post-Retirement Benefits Six Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Service cost $ 116 $ 124 $ 18 $ 21 Interest cost 6,328 6,730 153 169 Expected return on plan assets (7,473 ) (7,957 ) — — Amortization of prior service costs, (gains) losses and net transition asset 6,245 6,768 (123 ) (95 ) Net periodic benefit cost $ 5,216 $ 5,665 $ 48 $ 95 Pension and other post-retirement liabilities were $93.0 million and $96.0 million at June 30, 2017 and December 31, 2016 , respectively ( $0.6 million included in “Accrued expenses” at June 30, 2017 and December 31, 2016 , with the remainder included in “Other noncurrent liabilities” in the consolidated balance sheets). The Company’s required contributions are expected to be approximately $6 million in 2017 . Contributions to the pension plan during the first six months of 2017 were $1.9 million . Tredegar funds its other post-retirement benefits (life insurance and health benefits) on a claims-made basis, which the Company anticipates will be consistent with amounts paid for the year ended December 31, 2016 , or $0.3 million .

Segment Reporting

Segment Reporting	6 Months Ended
	Jun. 30, 2017
Segment Reporting [Abstract]
Segment Reporting	The Company’s business segments are PE Films, Flexible Packaging and Aluminum Extrusions. Information by business segment is reported below. There are no accounting transactions between segments and no allocations to segments. Net sales (sales less freight) and operating profit from ongoing operations are the measures of sales and operating profit used by the chief operating decision maker for purposes of assessing performance. The following table presents net sales and operating profit by segment for the three and six -month periods ended June 30, 2017 and 2016 : Three Months Ended June 30, Six Months Ended June 30, (In Thousands) 2017 2016 2017 2016 Net Sales PE Films $ 89,639 $ 80,813 $ 176,050 $ 169,295 Flexible Packaging Films 26,588 27,207 53,297 53,585 Aluminum Extrusions 123,208 93,447 222,807 178,920 Total net sales 239,435 201,467 452,154 401,800 Add back freight 7,912 7,066 16,218 14,067 Sales as shown in the Consolidated Statements of Income $ 247,347 $ 208,533 $ 468,372 $ 415,867 Operating Profit (Loss) PE Films: Ongoing operations $ 10,682 $ 4,318 $ 19,713 $ 14,553 Plant shutdowns, asset impairments, restructurings and other (904 ) (1,356 ) (2,972 ) (2,491 ) Flexible Packaging Films: Ongoing operations (319 ) (942 ) (2,317 ) 1,090 Plant shutdowns, asset impairments, restructurings and other 11,856 — 11,856 — Aluminum Extrusions: Ongoing operations 11,772 10,859 21,601 18,359 Plant shutdowns, asset impairments, restructurings and other 1,571 (558 ) (2,769 ) (565 ) Total 34,658 12,321 45,112 30,946 Interest income 55 51 129 88 Interest expense 1,642 947 2,822 2,032 Gain on investment accounted for under fair value method 21,500 300 24,800 1,100 Stock option-based compensation costs 38 31 41 (7 ) Corporate expenses, net 7,502 6,969 14,026 14,886 Income before income taxes 47,031 4,725 53,152 15,223 Income taxes 2,827 1,317 5,246 4,533 Net income $ 44,204 $ 3,408 $ 47,906 $ 10,690 The following table presents identifiable assets by segment at June 30, 2017 and December 31, 2016 : (In Thousands) June 30, 2017 December 31, 2016 PE Films $ 296,728 $ 278,558 Flexible Packaging Films 152,311 156,836 Aluminum Extrusions 267,549 147,639 Subtotal 716,588 583,033 General corporate 67,347 38,618 Cash and cash equivalents 24,026 29,511 Total $ 807,961 $ 651,162

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2017
Income Tax Disclosure [Abstract]
Income Taxes	Tredegar recorded tax expense of $5.2 million on pretax net income of $53.2 million in the first six months of 2017 . Therefore, the effective tax rate in the first six months of 2017 was 9.9% , compared to 29.8% in the first six months of 2016 . The significant differences between the U.S. federal statutory rate and the effective income tax rate for the six months ended June 30, 2017 and 2016 are as follows: Percent of Income Before Income Taxes Six Months Ended June 30, 2017 2016 Income tax expense at federal statutory rate 35.0 35.0 Foreign rate differences 1.7 0.1 State taxes, net of federal income tax benefit 1.2 0.5 Changes in estimates related to prior year tax provision 0.6 (1.3 ) Valuation allowance for foreign operating loss carry-forwards 0.5 0.3 Non-deductible expenses 0.4 1.6 Income tax contingency accruals and tax settlements 0.2 1.5 Valuation allowance for capital loss carry-forwards — (0.7 ) Unremitted earnings from foreign operations (0.2 ) (2.0 ) Research and development tax credit (0.5 ) (1.6 ) Domestic production activities deduction (0.7 ) (2.2 ) Remitted earnings from foreign operations (0.8 ) (0.8 ) Foreign investment write-up (4.4 ) (0.6 ) Settlement of Terphane acquisition escrow (7.9 ) — Worthless stock deduction (15.2 ) — Effective income tax rate 9.9 29.8 During the second quarter of 2017, the Company initiated a plan to liquidate for tax purposes one of its domestic subsidiaries, which will allow it to claim an income tax benefit on the write-off of the stock basis of one of the Company’s U.S. subsidiaries (“worthless stock deduction”) on its 2017 federal income tax return. The Company recorded an income tax benefit during the second quarter of 2017 of $8.1 million related to the worthless stock deduction, net of valuation allowances and accrual for uncertain tax positions. Also during the second quarter of 2017, the Company recognized a net tax benefit of $0.4 million associated with additional U.S. tax related to the repatriation of cash from Brazil in the third quarter of 2016 offset by the reversal of related tax contingencies. Tredegar accrues U.S. federal income taxes on unremitted earnings of all foreign subsidiaries. Prior to the second quarter of 2016, deferred U.S. federal income taxes had not been recorded for the undistributed earnings for Terphane Ltda. because the Company had intended to permanently reinvest these earnings. Due to concerns about the political and economic conditions in Brazil, Terphane Ltda. began making cash distributions to the Company in 2016. During the second quarter of 2016, Terphane Ltda. paid a dividend of $10.7 million to the Company. Because of the accumulation of significant losses related to foreign currency translations at Terphane Ltda., there were no unrecorded deferred tax liabilities associated with the U.S. federal income taxes and foreign withholding taxes on Terphane Ltda.’s undistributed earnings as of June 30, 2017 and December 31, 2016 . The Brazilian federal statutory income tax rate is a composite of 34.0% ( 25.0% of income tax and 9.0% of social contribution on income). Terphane Holdings LLC’s (“Terphane”) manufacturing facility in Brazil is the beneficiary of certain income tax incentives that allow for a reduction in the statutory Brazilian federal income tax rate to 15.25% levied on the operating profit on certain of its products. The incentives have been granted for a 10 -year period, which has a retroactive commencement date of January 1, 2015. No benefit was recognized from these tax incentives in the first six months of 2017 or 2016 . Income taxes in 2017 included a partial reversal of a valuation allowance of less than $0.1 million related to the expected limitations on the utilization of assumed capital losses on certain investments that were recognized in prior years. Income taxes in 2016 included the partial reversal of a valuation allowance of $0.1 million related to the expected limitations on the utilization of assumed capital losses on certain investments. The Company had a valuation allowance for excess capital losses from investments and other related items of $11.2 million at June 30, 2017 . Tredegar continues to evaluate opportunities to utilize these loss carryforwards prior to their expiration at various dates in the future. As events and circumstances warrant, allowances will be reversed when it is more likely than not that future taxable income will exceed deductible amounts, thereby resulting in the realization of deferred tax assets. Tredegar and its subsidiaries file income tax returns in the U.S., various states and jurisdictions outside the U.S. With few exceptions, Tredegar and its subsidiaries are no longer subject to U.S. federal, state or non-U.S. income tax examinations by tax authorities for years before 2013.

Contingencies

Contingencies	6 Months Ended
	Jun. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
Contingencies	In 2011, Tredegar was notified by U.S. Customs and Border Protection (“U.S. Customs”) that certain film products exported by Terphane to the U.S. since November 6, 2008 could be subject to duties associated with an antidumping duty order on imported PET films from Brazil. The Company contested the applicability of these antidumping duties to the films exported by Terphane, and it filed a request with the U.S. Department of Commerce (“Commerce”) for clarification about whether the film products at issue are within the scope of the antidumping duty order. On January 8, 2013, Commerce issued a scope ruling confirming that the films are not subject to the order, provided that Terphane can establish to the satisfaction of U.S. Customs that the performance enhancing layer on those films is greater than 0.00001 inches thick. The films at issue are manufactured to specifications that exceed that threshold. On February 6, 2013, certain U.S. producers of PET film filed a summons with the U.S. Court of International Trade to appeal the scope ruling from Commerce. In December 2014, the U.S. International Trade Commission voted to revoke the anti-dumping duty order on imported PET films from Brazil. The revocation, as a result of the vote by the U.S. International Trade Commission, was effective as of November 2013. On February 20, 2015, certain U.S. producers of PET films filed a summons with the U.S. Court of International Trade to appeal the determination by the U.S. International Trade Commission. The Court granted a motion by the plaintiffs to stay the appeal of the revocation decision pending the resolution of the scope appeal. On June 18, 2017, the U.S. Court of International Trade remanded the scope determination to Commerce for re-consideration of certain scope issues.

New Accounting Pronouncements

New Accounting Pronouncements	6 Months Ended
	Jun. 30, 2017
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
New Accounting Pronouncements	In May 2014, the Financial Accounting Standards Board (“FASB”) and International Accounting Standards Board (“IASB”) issued their converged standard on revenue recognition. The revised revenue standard contains principles that an entity will apply to direct the measurement of revenue and timing of when it is recognized. The core principle of the guidance is that the recognition of revenue should depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which an entity expects to be entitled in exchange for those goods and services. To achieve that core principle, an entity will utilize a principle-based five-step approach model. The converged standard also includes more robust disclosure requirements which will require entities to provide sufficient information to enable users of financial statements to understand the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. In March 2016, amended guidance was issued regarding clarifying the implementation guidance on principal versus agent considerations and in April 2016, clarifying guidance was issued relating to identifying performance obligations and licensing implementation. The effective date of this revised standard is for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. Early application is permitted as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that annual reporting period. The converged standard can be adopted either retrospectively or through the use of a practical expedient. The Company has made substantial progress towards assessing the impact of this standard. The Company has a team in place to analyze the impact of the standard, and the related guidance issued, across all revenue streams to evaluate the impact of the new standard on revenue contracts. This includes reviewing current accounting policies and practices to identify potential differences that would result from applying the requirements under the new standard. In 2016, the Company made progress on contract reviews, which were completed and validated in the first half of 2017. The Company has also started evaluating the new disclosure requirements and expects to complete its evaluations of the impacts of the accounting and disclosure requirements on its business processes, controls and systems by the end of 2017. The Company is still evaluating the method of adoption of the standard, which will occur in the first quarter of 2018. In July 2015, the FASB issued new guidance for the measurement of inventories. Inventories within the scope of the revised guidance should be measured at the lower of cost or net realizable value. The previous guidance dictated that inventory should be measured at the lower of cost or market, with market being either replacement cost, net realizable value or net realizable value less an approximation of normal profit margin. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. Subsequent measurement is unchanged for inventories measured using LIFO or the retail inventory method. The amendments should be applied prospectively, with early adoption permitted. The Company adopted the new guidance prospectively in the first quarter of 2017, and the adoption of this guidance did not have a material impact on the Company’s consolidated financial statements. In January 2016, the FASB issued amended guidance associated with accounting for equity investments measured at fair value. The amended guidance requires all equity investments to be measured at fair value with changes in the fair value recognized through net income (other than those accounted for under equity method of accounting or those that result in consolidation of the investee). The amended guidance also requires an entity to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. In addition, the amendments in this update eliminate the requirement to disclose the fair value of financial instruments measured at amortized cost for entities that are not public business entities and the requirement to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet for public business entities. The amended guidance is effective for fiscal years beginning after December 31, 2017, including the interim periods within those fiscal years. The amendments should be applied by means of a cumulative-effect adjustment to the balance sheet as of the beginning of the fiscal year of adoption. The amendments related to equity securities without readily determinable fair values (including disclosure requirements) should be applied prospectively to equity investments that exist as of the date of adoption of the update. Early adoption is permitted under limited, specific circumstances. The guidance is not expected to have a material impact on the Company’s consolidated financial statements. In February 2016, the FASB issued a revised standard on lease accounting. Lessees will need to recognize virtually all of their leases on the balance sheet, by recording a right-of-use asset and lease liability. The revised standard requires additional analysis of the components of a transaction to determine if a right-to-use asset is embedded in the transaction that needs to be treated as a lease. Substantial additional disclosures are also required by the revised standard. The revised standard is effective for fiscal years beginning after December 31, 2018, including the interim periods within those fiscal years. The revised standard should be applied on a modified retrospective approach or through the use of a practical expedient, with early adoption permitted. The Company is still assessing the impact of this revised standard. In March 2016, the FASB issued amended guidance to simplify several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statements of cash flows. The Company adopted the new guidance in the first quarter of 2017. Under the new guidance, excess tax benefits related to equity compensation were recognized in "Income taxes" in the consolidated statements of income rather than in "Common stock" in the consolidated balance sheets and were applied on a prospective basis. If these amounts had been included in the consolidated statements of income in previous years, net income would have been reduced by $0.5 million in the first six months of 2016 (none in the second quarter of 2016) ( $1.1 million for the full year 2016). Changes to the statements of cash flows related to the classification of excess tax benefits and employee taxes paid for share-based payment arrangements were implemented on a retrospective basis. In addition, the updated guidance allows the Company to make an accounting policy election related to how forfeitures will impact the recognition of stock compensation cost. Previously, entities were required to estimate forfeitures at the grant date, accounting for estimated forfeitures over the requisite service period. Under the updated guidance, the Company can choose, and the Company has elected, to account for forfeitures as they occur. The Company adopted the updated guidance in the first quarter of 2017, and the adoption of this guidance did not have a material impact on the Company’s consolidated financial statements. In October 2016, the FASB issued guidance that requires an entity to recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. The amendments are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2017, and should be applied on a modified retrospective basis through a cumulative-effect adjustment directly to retained earnings at the beginning period of adoption. Early adoption is permitted in the first interim period of an annual reporting period for which financial statements have not been issued. The Company is currently evaluating the impact of adopting this guidance. In January 2017, the FASB issued guidance to assist with evaluating when a set of transferred assets and activities (collectively, the "set") is a business and provides a screen to determine when such a set is not a business. Under the new guidance, when substantially all of the fair value of gross assets acquired (or disposed of) is concentrated in a single identifiable asset, or group of similar assets, the assets acquired would not represent a business. Also, to be considered a business, an acquisition would have to include an input and a substantive process that together significantly contribute to the ability to produce outputs. The new standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2017, and should be applied on a prospective basis to any transactions occurring within the period of adoption. Early adoption is permitted for interim or annual periods in which the financial statements have not been issued. The Company is currently evaluating the impact of adopting this guidance. In January 2017, the FASB issued amended guidance that eliminates the requirement to determine the fair value of individual assets and liabilities of a reporting unit to measure goodwill impairment. Under the amendments in the new guidance, goodwill impairment testing will be performed by comparing the fair value of the reporting unit with its carrying amount and recognizing an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value. The new standard is effective for annual and interim goodwill impairment tests in fiscal years beginning after December 15, 2019, and should be applied on a prospective basis. Early adoption is permitted for annual or interim goodwill impairment testing performed after January 1, 2017. The Company is currently evaluating the impact of adopting this guidance. In March 2017, the FASB issued final guidance on the presentation of net periodic pension and postretirement benefit cost (net benefit cost). Currently, net benefit cost is reported as an employee cost within operating income. This new guidance requires the bifurcation of net periodic pension and postretirement benefit costs. Service cost will be part of operating income (and is the only piece eligible to be capitalized). All other components will be shown outside of operations. The new standard is effective for annual and interim periods in fiscal years beginning after December 15, 2017, and should be applied on a retrospective basis. Early adoption is permitted only in the first quarter of the reporting year. The Company is currently evaluating the impact of adopting this guidance.

Acquisitions (Tables)

Acquisitions (Tables)	6 Months Ended
	Jun. 30, 2017
Business Acquisition [Line Items]
Business Acquisition, Pro Forma Information [Table Text Block]	The supplemental unaudited pro forma measures for the three and six months ended June 30, 2017 and 2016 are presented below: Tredegar Pro Forma Results with Futura Acquisition Three Months Ended Six Months Ended June 30, June 30, (In Thousands, Except Per Share Data) 2017 2016 2017 2016 Sales $ 247,347 $ 226,849 $ 475,383 $ 453,510 Net income $ 44,204 $ 4,202 $ 47,562 $ 12,334 Earnings per share: Basic $ 1.34 $ 0.13 $ 1.44 $ 0.38 Diluted $ 1.34 $ 0.13 $ 1.44 $ 0.38
Schedule Of Purchase Price Allocation	Based upon management’s valuation of the fair value of tangible and intangible assets acquired (net of cash acquired) and liabilities assumed, the allocation of the Adjusted Net Purchase Price is as follows: (in Thousands) Accounts receivable $ 6,680 Inventories 10,342 Prepaid expenses and other current assets 240 Property, plant & equipment 32,662 Identifiable intangible assets: Customer relationships 24,000 Trade names 6,700 Trade payables & accrued expenses (8,135 ) Total identifiable net assets 72,489 Adjusted Net Purchase Price 82,860 Goodwill $ 10,371

Plants Shutdowns, Asset Impai24

Plants Shutdowns, Asset Impairments, Restructurings And Other (Tables)	6 Months Ended
	Jun. 30, 2017
Restructuring Charges [Abstract]
Schedule Of Accrued Expenses Associated With Asset Impairments And Exit And Disposal Activities	A reconciliation of the beginning and ending balances of accrued expenses associated with exit and disposal activities and charges associated with asset impairments and reported as “Asset impairments and costs associated with exit and disposal activities, net of adjustments” in the consolidated statements of income for the six months ended June 30, 2017 is as follows: (In Thousands) Severance Asset Impairments Other (a) Total Balance at January 1, 2017 $ 1,854 $ — $ 554 $ 2,408 Changes in 2017: Charges 172 50 71 293 Cash spent (482 ) — (76 ) (558 ) Charges against assets — (50 ) — (50 ) Balance at June 30, 2017 $ 1,544 $ — $ 549 $ 2,093 (a) Other includes other facility consolidation-related costs associated with the consolidation of North American PE Films manufacturing facilities and other shutdown-related costs associated with the shutdown and sale of the Company’s aluminum extrusions manufacturing facility in Kentland, Indiana.

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2017
Inventory, Net [Abstract]
Schedule of Inventory, Current	The components of inventories are as follows: June 30, December 31, (In Thousands) 2017 2016 Finished goods $ 22,602 $ 16,215 Work-in-process 10,598 8,590 Raw materials 32,888 23,733 Stores, supplies and other 18,271 17,531 Total $ 84,359 $ 66,069

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2017
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	Diluted earnings per share is computed by dividing net income by the weighted average common and potentially dilutive common equivalent shares outstanding, determined as follows: Three Months Ended Six Months Ended June 30, June 30, (In Thousands) 2017 2016 2017 2016 Weighted average shares outstanding used to compute basic earnings per share 32,961 32,716 32,941 32,685 Incremental dilutive shares attributable to stock options and restricted stock 90 — 58 — Shares used to compute diluted earnings per share 33,051 32,716 32,999 32,685

Accumulated Other Comprehensi27

Accumulated Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	Jun. 30, 2017
Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule Of After-Tax Changes In Accumulated Other Comprehensive Income (Loss)	The following table summarizes the after-tax changes in accumulated other comprehensive income (loss) for the six months ended June 30, 2017 : (In Thousands) Foreign currency translation adjustment Gain (loss) on derivative financial instruments Pension and other post-retirement benefit adjustments Total Beginning balance, January 1, 2017 $ (93,970 ) $ 863 $ (90,127 ) $ (183,234 ) Other comprehensive income (loss) before reclassifications 2,674 335 — 3,009 Amounts reclassified from accumulated other comprehensive income (loss) — (373 ) 3,900 3,527 Net other comprehensive income (loss) - current period 2,674 (38 ) 3,900 6,536 Ending balance, June 30, 2017 $ (91,296 ) $ 825 $ (86,227 ) $ (176,698 ) The following table summarizes the after-tax changes in accumulated other comprehensive income (loss) for the six months ended June 30, 2016 : (In Thousands) Foreign Gain (loss) on Pension and Total Beginning balance, January 1, 2016 $ (112,807 ) $ (373 ) $ (95,539 ) $ (208,719 ) Other comprehensive income (loss) before reclassifications 23,648 86 — 23,734 Amounts reclassified from accumulated other comprehensive income (loss) — 931 4,607 5,538 Net other comprehensive income (loss) - current period 23,648 1,017 4,607 29,272 Ending balance, June 30, 2016 $ (89,159 ) $ 644 $ (90,932 ) $ (179,447 )
Schedule Of Reclassifications Of Balances Out Of Accumulated Other Comprehensive Income (Loss) Into Net Income	Reclassifications of balances out of accumulated other comprehensive income (loss) into net income (loss) for the three months ended June 30, 2017 are summarized as follows: (In Thousands) Amount Location of gain Gain (loss) on derivative financial instruments: Aluminum future contracts, before taxes $ 321 Cost of sales Foreign currency forward contracts, before taxes 16 Cost of sales Total, before taxes 337 Income tax expense (benefit) 125 Income taxes Total, net of tax $ 212 Amortization of pension and other post-retirement benefits: Actuarial gain (loss) and prior service costs, before taxes $ (3,061 ) (a) Income tax expense (benefit) (1,111 ) Income taxes Total, net of tax $ (1,950 ) (a) This component of accumulated other comprehensive income (loss) is included in the computation of net periodic pension cost (see Note 9 for additional detail). Reclassifications of balances out of accumulated other comprehensive income (loss) into net income (loss) for the six months ended June 30, 2017 are summarized as follows: (In Thousands) Amount Location of gain Gain (loss) on derivative financial instruments: Aluminum future contracts, before taxes $ 554 Cost of sales Foreign currency forward contracts, before taxes 31 Cost of sales Total, before taxes 585 Income tax expense (benefit) 212 Income taxes Total, net of tax $ 373 Amortization of pension and other post-retirement benefits: Actuarial gain (loss) and prior service costs, before taxes $ (6,122 ) (a) Income tax expense (benefit) (2,222 ) Income taxes Total, net of tax $ (3,900 ) (a) This component of accumulated other comprehensive income (loss) is included in the computation of net periodic pension cost (see Note 9 for additional detail). Reclassifications of balances out of accumulated other comprehensive income (loss) into net income (loss) for the three months ended June 30, 2016 are summarized as follows: (In Thousands) Amount Location of gain Gain (loss) on derivative financial instruments: Aluminum future contracts, before taxes $ (525 ) Cost of sales Foreign currency forward contracts, before taxes 16 Cost of sales Total, before taxes (509 ) Income tax expense (benefit) (182 ) Income taxes Total, net of tax $ (327 ) Amortization of pension and other post-retirement benefits: Actuarial gain (loss) and prior service costs, before taxes $ (3,336 ) (a) Income tax expense (benefit) (1,211 ) Income taxes Total, net of tax $ (2,125 ) (a) This component of accumulated other comprehensive income (loss) is included in the computation of net periodic pension cost (see Note 9 for additional detail). Reclassifications of balances out of accumulated other comprehensive income (loss) into net income (loss) for the six months ended June 30, 2016 are summarized as follows: (In Thousands) Amount Location of gain Gain (loss) on derivative financial instruments: Aluminum future contracts, before taxes $ (1,509 ) Cost of sales Foreign currency forward contracts, before taxes 31 Cost of sales Total, before taxes (1,478 ) Income tax expense (benefit) (547 ) Income taxes Total, net of tax $ (931 ) Amortization of pension and other post-retirement benefits: Actuarial gain (loss) and prior service costs, before taxes $ (6,673 ) (a) Income tax expense (benefit) (2,066 ) Income taxes Total, net of tax $ (4,607 ) (a) This component of accumulated other comprehensive income (loss) is included in the computation of net periodic pension cost (see Note 9 for additional detail).

Investments (Tables)

Investments (Tables)	6 Months Ended
	Jun. 30, 2017
Equity Method Investments and Joint Ventures [Abstract]
Schedule Of Fair Value Method Investments, Balance Sheets And Income Statements	The condensed balance sheets for kaléo at June 30, 2017 and December 31, 2016 and condensed statements of operations for the three and six months ended June 30, 2017 and 2016 , as reported to the Company by kaléo, are provided below: (In Thousands) June 30, 2017 December 31, 2016 June 30, 2017 December 31, 2016 Assets: Liabilities & Equity: Cash & short-term investments $ 108,740 $ 102,329 Restricted cash 30 31 Current liabilities $ 97,258 $ 50,134 Other current assets 51,125 15,391 Long term debt, net 143,692 143,380 Property & equipment 11,157 13,011 Other noncurrent liabilities 828 822 Other long-term assets 510 472 Equity (70,216 ) (63,102 ) Total assets $ 171,562 $ 131,234 Total liabilities & equity $ 171,562 $ 131,234 Three Months Ended June 30, Six Months Ended June 30, (In Thousands) 2017 2016 2017 2016 Revenues $ 67,451 $ 15,020 $ 89,939 $ 11,970 Cost of goods sold, R&D and SG&A expenses before depreciation & amortization (52,071 ) (15,903 ) (85,339 ) (31,394 ) Depreciation & amortization (1,241 ) (1,437 ) (2,478 ) (2,199 ) Operating income (loss) 14,139 (2,320 ) 2,122 (21,623 ) Gain on contract termination — 58 — 18,075 Net interest expense and other net (4,815 ) (4,844 ) (9,641 ) (9,688 ) Income tax benefit (expense) (490 ) — (490 ) (9 ) Net income (loss) $ 8,834 $ (7,106 ) $ (8,009 ) $ (13,245 )

Derivative Financial Instrume29

Derivative Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2017
Derivatives, Fair Value [Line Items]
Schedule Of Pretax Effect On Net Income (Loss) And Other Comprehensive Income (Loss) Of Derivative Instruments Classified As Cash Flow Hedges	The effect on net income (loss) and other comprehensive income (loss) of derivative instruments classified as cash flow hedges and described in the previous paragraphs for the three and six month periods ended June 30, 2017 and 2016 is summarized in the table below: (In Thousands) Cash Flow Derivative Hedges Aluminum Futures Contracts Foreign Currency Forwards Three Months Ended June 30, 2017 2016 2017 2016 Amount of pretax gain (loss) recognized in other comprehensive income (loss) $ (322 ) $ 686 $ — $ — Location of gain (loss) reclassified from accumulated other comprehensive income (loss) into net income (loss) (effective portion) Cost of Cost of Cost of Cost of Amount of pretax gain (loss) reclassified from accumulated other comprehensive income (loss) to net income (loss) (effective portion) $ 321 $ (525 ) $ 16 $ 16 Aluminum Futures Contracts Foreign Currency Forwards Six Months Ended June 30, 2017 2016 2017 2016 Amount of pre-tax gain (loss) recognized in other comprehensive income (loss) $ 524 $ 137 $ — $ — Location of gain (loss) reclassified from accumulated other comprehensive income (loss) into net income (loss) (effective portion) Cost of Cost of Cost of Cost of Amount of pre-tax gain (loss) reclassified from accumulated other comprehensive income (loss) to net income (loss) (effective portion) $ 554 $ (1,509 ) $ 31 $ 31
Aluminum Futures Contracts
Derivatives, Fair Value [Line Items]
Summary Of Location And Fair Value Of Derivative Financial Instruments	The table below summarizes the location and gross amounts of aluminum futures contract fair values in the consolidated balance sheets as of June 30, 2017 and December 31, 2016 : June 30, 2017 December 31, 2016 (In Thousands) Balance Sheet Account Fair Value Balance Sheet Account Fair Value Derivatives Designated as Hedging Instruments Asset derivatives: Prepaid expenses and other $ 411 Prepaid expenses and other $ 308 Liability derivatives: Prepaid expenses and other $ (170 ) Prepaid expenses and other $ (37 ) Net asset (liability) $ 241 $ 271

Pension And Other Post-Retire30

Pension And Other Post-Retirement Benefits (Tables)	6 Months Ended
	Jun. 30, 2017
Compensation and Retirement Disclosure [Abstract]
Schedule Of Components Of Net Periodic Benefit Cost For Pension And Other Post-Retirement Benefit Programs	The components of net periodic benefit cost for the pension and other post-retirement benefit programs reflected in consolidated results are shown below: Pension Benefits Other Post-Retirement Benefits Three Months Ended June 30, Three Months Ended June 30, (In Thousands) 2017 2016 2017 2016 Service cost $ 58 $ 52 $ 9 $ 10 Interest cost 3,164 3,365 77 84 Expected return on plan assets (3,737 ) (3,979 ) — — Amortization of prior service costs, gains or losses and net transition asset 3,122 3,384 (62 ) (47 ) Net periodic benefit cost $ 2,607 $ 2,822 $ 24 $ 47 Pension Benefits Other Post-Retirement Benefits Six Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Service cost $ 116 $ 124 $ 18 $ 21 Interest cost 6,328 6,730 153 169 Expected return on plan assets (7,473 ) (7,957 ) — — Amortization of prior service costs, (gains) losses and net transition asset 6,245 6,768 (123 ) (95 ) Net periodic benefit cost $ 5,216 $ 5,665 $ 48 $ 95

Segment Reporting (Tables)

Segment Reporting (Tables)	6 Months Ended
	Jun. 30, 2017
Segment Reporting [Abstract]
Schedule Of Segment Reporting Information By Segment	The following table presents net sales and operating profit by segment for the three and six -month periods ended June 30, 2017 and 2016 : Three Months Ended June 30, Six Months Ended June 30, (In Thousands) 2017 2016 2017 2016 Net Sales PE Films $ 89,639 $ 80,813 $ 176,050 $ 169,295 Flexible Packaging Films 26,588 27,207 53,297 53,585 Aluminum Extrusions 123,208 93,447 222,807 178,920 Total net sales 239,435 201,467 452,154 401,800 Add back freight 7,912 7,066 16,218 14,067 Sales as shown in the Consolidated Statements of Income $ 247,347 $ 208,533 $ 468,372 $ 415,867 Operating Profit (Loss) PE Films: Ongoing operations $ 10,682 $ 4,318 $ 19,713 $ 14,553 Plant shutdowns, asset impairments, restructurings and other (904 ) (1,356 ) (2,972 ) (2,491 ) Flexible Packaging Films: Ongoing operations (319 ) (942 ) (2,317 ) 1,090 Plant shutdowns, asset impairments, restructurings and other 11,856 — 11,856 — Aluminum Extrusions: Ongoing operations 11,772 10,859 21,601 18,359 Plant shutdowns, asset impairments, restructurings and other 1,571 (558 ) (2,769 ) (565 ) Total 34,658 12,321 45,112 30,946 Interest income 55 51 129 88 Interest expense 1,642 947 2,822 2,032 Gain on investment accounted for under fair value method 21,500 300 24,800 1,100 Stock option-based compensation costs 38 31 41 (7 ) Corporate expenses, net 7,502 6,969 14,026 14,886 Income before income taxes 47,031 4,725 53,152 15,223 Income taxes 2,827 1,317 5,246 4,533 Net income $ 44,204 $ 3,408 $ 47,906 $ 10,690
Schedule Of Identifiable Assets By Segment	The following table presents identifiable assets by segment at June 30, 2017 and December 31, 2016 : (In Thousands) June 30, 2017 December 31, 2016 PE Films $ 296,728 $ 278,558 Flexible Packaging Films 152,311 156,836 Aluminum Extrusions 267,549 147,639 Subtotal 716,588 583,033 General corporate 67,347 38,618 Cash and cash equivalents 24,026 29,511 Total $ 807,961 $ 651,162

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
	Jun. 30, 2017
Income Tax Disclosure [Abstract]
Schedule Of Effective Income Tax Rate For Continuing Operations	he significant differences between the U.S. federal statutory rate and the effective income tax rate for the six months ended June 30, 2017 and 2016 are as follows: Percent of Income Before Income Taxes Six Months Ended June 30, 2017 2016 Income tax expense at federal statutory rate 35.0 35.0 Foreign rate differences 1.7 0.1 State taxes, net of federal income tax benefit 1.2 0.5 Changes in estimates related to prior year tax provision 0.6 (1.3 ) Valuation allowance for foreign operating loss carry-forwards 0.5 0.3 Non-deductible expenses 0.4 1.6 Income tax contingency accruals and tax settlements 0.2 1.5 Valuation allowance for capital loss carry-forwards — (0.7 ) Unremitted earnings from foreign operations (0.2 ) (2.0 ) Research and development tax credit (0.5 ) (1.6 ) Domestic production activities deduction (0.7 ) (2.2 ) Remitted earnings from foreign operations (0.8 ) (0.8 ) Foreign investment write-up (4.4 ) (0.6 ) Settlement of Terphane acquisition escrow (7.9 ) — Worthless stock deduction (15.2 ) — Effective income tax rate 9.9 29.8

Acquisitions (Narrative) (Detai

Acquisitions (Narrative) (Details) - USD ($)	Feb. 15, 2017	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Business Acquisition [Line Items]
Sales		$ 247,347,000	$ 208,533,000	$ 468,372,000	$ 415,867,000
Payments to Acquire Property, Plant, and Equipment				$ 26,692,000	$ 19,018,000
Effective Income Tax Rate Reconciliation, Percent				9.90%	29.80%
Futura Industries [Member]
Business Acquisition [Line Items]
Business Combinations Accretion to Diluted Earnings Per Share		0.04		$ 0.05
Business Combination Contract Price	$ 92,000,000
Business Combination, Consideration Transferred	87,000,000
Business Combinations Amount Deposited in Escrow - Earnout	5,000,000
Business Combination, Contingent Consideration, Asset, Current	4,300,000	5,000,000		5,000,000
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Asset		700,000		$ 700,000
Business Combinations Purchase Price Allocated Net of Contingent Consideration	$ 82,860,000
Tax Recovery Life of Goodwill for Amortization	15 years
Line of Credit Facility, Interest Rate During Period				3.00%
Percentage of outstanding equity interests acquired	100.00%
Effective Income Tax Rate Reconciliation, Percent				39.10%
Goodwill, Purchase Accounting Adjustments		100,000
Aluminum Extrusions
Business Acquisition [Line Items]
Income Loss From Ongoing Operations		11,772,000	10,859,000	$ 21,601,000	$ 18,359,000
Futura Industries [Member]
Business Acquisition [Line Items]
Business Acquisition, Pro Forma Revenue		247,347	226,849	475,383	453,510
Sales		22,465,000		30,751,000
Income Loss From Ongoing Operations		2,800,000		3,800,000
Cost of Services, Depreciation and Amortization		1,400,000		1,900,000
Payments to Acquire Property, Plant, and Equipment		500,000		900,000
Business Acquisition, Pro Forma Net Income (Loss)		$ 44,204	$ 4,202	$ 47,562	$ 12,334
Business Acquisition, Pro Forma Earnings Per Share, Basic		$ 1.34	$ 0.13	$ 1.44	$ 0.38
Business Acquisition, Pro Forma Earnings Per Share, Diluted		$ 1.34	$ 0.13	$ 1.44	$ 0.38
Customer Relationships [Member] | Futura Industries [Member]
Business Acquisition [Line Items]
Finite-Lived Intangible Asset, Useful Life	12 years
Trade Names [Member] | Futura Industries [Member]
Business Acquisition [Line Items]
Finite-Lived Intangible Asset, Useful Life	13 years

Acquisitions (Schedule Of Purch

Acquisitions (Schedule Of Purchase Price Allocation) (Details) - Futura Industries [Member] $ in Thousands	Feb. 15, 2017USD ($)
Schedule Of Acquired Finite And Indefinite Lived Intangible Asset By Major Class [Line Items]
Accounts receivable	$ 6,680
Inventories	10,342
Property, plant & equipment	32,662
Total identifiable net assets	72,489
Prepaid Expense and Other Assets	240
Current Liabilities	(8,135)
Business Combination, Consideration Transferred	82,860
Goodwill [Member]
Schedule Of Acquired Finite And Indefinite Lived Intangible Asset By Major Class [Line Items]
Goodwill	10,371
Customer relationships
Schedule Of Acquired Finite And Indefinite Lived Intangible Asset By Major Class [Line Items]
Identifiable finite-lived intangible assets	24,000
Trade Names [Member]
Schedule Of Acquired Finite And Indefinite Lived Intangible Asset By Major Class [Line Items]
Identifiable finite-lived intangible assets	$ 6,700

Acquisitions Proforma Results (

Acquisitions Proforma Results (Details) - Futura Industries [Member] - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Schedule Of Acquired Finite And Indefinite Lived Intangible Asset By Major Class [Line Items]
Sales Revenue, Goods, Net	$ 247,347	$ 226,849	$ 475,383	$ 453,510
Business Acquisition, Pro Forma Net Income (Loss)	$ 44,204	$ 4,202	$ 47,562	$ 12,334
Business Acquisition, Pro Forma Earnings Per Share, Basic	$ 1.34	$ 0.13	$ 1.44	$ 0.38
Business Acquisition, Pro Forma Earnings Per Share, Diluted	$ 1.34	$ 0.13	$ 1.44	$ 0.38

Plants Shutdowns, Asset Impai36

Plants Shutdowns, Asset Impairments, Restructurings And Other (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended	24 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016	Jun. 30, 2017
Restructuring Cost and Reserve [Line Items]
Payments to Acquire Property, Plant, and Equipment			$ 26,692	$ 19,018
Production LIne Start-up and Ramp-up Costs	$ 1,000		2,800
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	47,031	$ 4,725	53,152	15,223
Business Development Expenses	600		900	400
Pretax charges for severance and other employee-related costs			300
(Gain)/loss on asset impairments and divestitures			50	339
Other Non-Operating and Non-Recurring Charges [Abstract]
Unrealized gain (loss) on investment under fair value method			24,800	1,100
Gain (Loss) on Disposition of Assets			307	0
Payments for Restructuring			558
kaleo
Other Non-Operating and Non-Recurring Charges [Abstract]
Unrealized gain (loss) on investment under fair value method	21,500	300	24,800	1,100
Unrealized gain (loss) on investment under fair value method, after taxes	15,700	200	$ 18,200	800
Fair Value Inputs, Discount Rate			45.00%		45.00%
Futura Industries [Member]
Restructuring Cost and Reserve [Line Items]
Net Business Combination Acquisition, Integration Costs and Other Related Costs			$ 3,300
Business Combination, Inventory FV Adj			1,700
Business Combination, Acquisition Related Costs			1,500
Business Combination, Integration Related Costs			100
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Asset	(700)		(700)
Futura Industries [Member]
Restructuring Cost and Reserve [Line Items]
Payments to Acquire Property, Plant, and Equipment	500		900
Flexible Packaging Films [Member]
Restructuring Cost and Reserve [Line Items]
Businesss Combination Settlement of Escrow Account	(11,900)
Loss Contingency, Estimate of Possible Loss	3,500		3,500			$ 3,500
Foreign Income Tax Expense (Benefit), Continuing Operations	400
PE Films
Restructuring Cost and Reserve [Line Items]
Production LIne Start-up and Ramp-up Costs	900		2,400
Aluminum Extrusions
Restructuring Cost and Reserve [Line Items]
Production LIne Start-up and Ramp-up Costs	100		400
Cast House Explosion pretax income	900	(600)	500	(600)
Excess production costs for which recovery from insurance is not assured	300				$ 600
Insured Event, Gain (Loss)			600
Loss from Catastrophes			100
Severance
Other Non-Operating and Non-Recurring Charges [Abstract]
Payments for Restructuring			482
Aluminum Extrusions Manufacturing Facility In Newnan Georgia [Member] | Aluminum Extrusions
Other Non-Operating and Non-Recurring Charges [Abstract]
Environmental Exit Costs, Anticipated Cost			300
FilmProductsManufacturingFacilityInLakeZurichIllinois [Member] | PE Films
Other Non-Operating and Non-Recurring Charges [Abstract]
Payments for Restructuring			500			14,400
Capital Expenditures Restructuring Project			100			11,200
FilmProductsManufacturingFacilityInLakeZurichIllinois [Member] | Other Restructuring [Member]
Restructuring Cost and Reserve [Line Items]
Plant Shutdown Related Expenditures Gross	300		700
Plant shutdown related expenditures		1,400	600	2,500		7,100
Pretax charges for severance and other employee-related costs	300	400	100	700
(Gain)/loss on asset impairments and divestitures		100	100	300
Accelerated Depreciation Expense	100	100	200	200
Other Restructuring Costs	200	800	400	1,300
Other Plant Consolidation Expenses - Cost of Goods Sold		$ 700	300	$ 1,100
FilmProductsManufacturingFacilityInLakeZurichIllinois [Member] | RestructuringSeverance&EquipmentTransfers [Member] | PE Films
Restructuring Cost and Reserve [Line Items]
RestructuringExpectedCashOutflows	5,000		5,000			5,000
FilmProductsManufacturingFacilityInLakeZurichIllinois [Member] | RestructuringCapExEquiptUpgrades [Member] | PE Films
Restructuring Cost and Reserve [Line Items]
RestructuringExpectedCashOutflows	11,000		11,000			11,000
FilmProductsManufacturingFacilityInLakeZurichIllinois [Member] | RestructuringSafetyQualityIncentives [Member] | PE Films
Restructuring Cost and Reserve [Line Items]
RestructuringExpectedCashOutflows	1,000		1,000			1,000
FilmProductsManufacturingFacilityInLakeZurichIllinois [Member] | RestructuringProductQualifications [Member] | PE Films
Restructuring Cost and Reserve [Line Items]
RestructuringExpectedCashOutflows	1,000		1,000			1,000
Minimum | FilmProductsManufacturingFacilityInLakeZurichIllinois [Member] | PE Films
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost	5,000		5,000			5,000
RestructuringExpectedCashOutflows	17,000		17,000			17,000
Minimum | FilmProductsManufacturingFacilityInLakeZurichIllinois [Member] | Severance | PE Films
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost	2,000		2,000			2,000
Maximum | FilmProductsManufacturingFacilityInLakeZurichIllinois [Member] | PE Films
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost	6,000		6,000			6,000
RestructuringExpectedCashOutflows	17,000		17,000			17,000
Maximum | FilmProductsManufacturingFacilityInLakeZurichIllinois [Member] | Severance | PE Films
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost	$ 3,000		3,000			$ 3,000
Pension Plan [Member]
Restructuring Cost and Reserve [Line Items]
Defined Benefit Plan Estimated Required Future Employer Contributions In Current Fiscal Year			$ 6,000

Plants Shutdowns, Asset Impai37

Plants Shutdowns, Asset Impairments, Restructurings And Other (Schedule Of Accrued Expenses Associated With Asset Impairments And Exit And Disposal Activities) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2017USD ($)
Restructuring Reserve [Roll Forward]
January 1, 2017	$ 2,408
Charges	293
Cash spent	(558)
Charges against assets	(50)
June 30, 2017	2,093
Severance
Restructuring Reserve [Roll Forward]
January 1, 2017	1,854
Charges	172
Cash spent	(482)
June 30, 2017	1,544
Long Lived Asset Impairment [Member]
Restructuring Reserve [Roll Forward]
January 1, 2017	0
Charges	50
Cash spent	0
Charges against assets	(50)
June 30, 2017	0
Other
Restructuring Reserve [Roll Forward]
January 1, 2017	554
Charges	71
Cash spent	(76)
Charges against assets	0
June 30, 2017	$ 549

Inventories (Schedule Of Compon

Inventories (Schedule Of Components Of Inventories) (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Inventory, Net [Abstract]
Finished goods	$ 22,602	$ 16,215
Work-in-process	10,598	8,590
Raw materials	32,888	23,733
Stores, supplies and other	18,271	17,531
Total	$ 84,359	$ 66,069

Earnings Per Share (Narrative)

Earnings Per Share (Narrative) (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Earnings Per Share [Abstract]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	416,941	673,882	340,268	717,955

Earnings Per Share (Schedule Of

Earnings Per Share (Schedule Of Calculation Of Numerator And Denominator In Earnings Per Share) (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Earnings Per Share [Abstract]
Weighted average shares outstanding used to compute basic earnings per share	32,961	32,716	32,941	32,685
Incremental dilutive shares attributable to stock options and restricted stock	90	0	58	0
Shares used to compute diluted earnings per share	33,051	32,716	32,999	32,685

Accumulated Other Comprehensi41

Accumulated Other Comprehensive Income (Loss) (Schedule Of After-Tax Changes In Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning of Period			$ (183,234)	$ (208,719)
Other comprehensive income (loss) before reclassifications			3,009	23,734
Amounts reclassified from accumulated other comprehensive income (loss)			3,527	5,538
Net other comprehensive income (loss) - current period	$ (420)	$ 13,949	6,536	29,272
End of Period	(176,698)	(179,447)	(176,698)	(179,447)
Foreign Currency Translation
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning of Period			(93,970)	(112,807)
Other comprehensive income (loss) before reclassifications			2,674	23,648
Amounts reclassified from accumulated other comprehensive income (loss)			0	0
Net other comprehensive income (loss) - current period			2,674	23,648
End of Period	(91,296)	(89,159)	(91,296)	(89,159)
Gain (Loss) on Derivative Financial Instruments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning of Period			863	(373)
Other comprehensive income (loss) before reclassifications			335	86
Amounts reclassified from accumulated other comprehensive income (loss)			(373)	931
Net other comprehensive income (loss) - current period			(38)	1,017
End of Period	825	644	825	644
Pension & Other Post-retirement Benefit Adjust.
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning of Period			(90,127)	(95,539)
Other comprehensive income (loss) before reclassifications			0	0
Amounts reclassified from accumulated other comprehensive income (loss)			3,900	4,607
Net other comprehensive income (loss) - current period			3,900	4,607
End of Period	$ (86,227)	$ (90,932)	$ (86,227)	$ (90,932)

Accumulated Other Comprehensi42

Accumulated Other Comprehensive Income (Loss) (Schedule Of Reclassifications Of Balances Out Of Accumulated Other Comprehensive Income (Loss) Into Net Income) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016	Dec. 31, 2015
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Accumulated Other Comprehensive Income (Loss), Net of Tax	$ (176,698)	$ (179,447)	$ (176,698)	$ (179,447)	$ (183,234)	$ (208,719)
Cost of goods sold	(197,372)	(169,830)	(379,220)	(332,882)
Income before income taxes	47,031	4,725	53,152	15,223
Income taxes from continuing operations	(2,827)	(1,317)	(5,246)	(4,533)
Net income	44,204	3,408	47,906	10,690
Foreign Currency Translation
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Accumulated Other Comprehensive Income (Loss), Net of Tax	(91,296)	(89,159)	(91,296)	(89,159)	(93,970)	(112,807)
Gain (Loss) on Derivative Financial Instruments
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Accumulated Other Comprehensive Income (Loss), Net of Tax	825	644	825	644	863	(373)
Pension & Other Post-retirement Benefit Adjust.
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Accumulated Other Comprehensive Income (Loss), Net of Tax	(86,227)	(90,932)	(86,227)	(90,932)	$ (90,127)	$ (95,539)
Reclassification Out Of Accumulated Other Comprehensive Income | Gain (Loss) on Derivative Financial Instruments
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income before income taxes	337	(509)	585	(1,478)
Income taxes from continuing operations	(125)	182	(212)	547
Net income	212	(327)	373	(931)
Reclassification Out Of Accumulated Other Comprehensive Income | Gain (Loss) on Derivative Financial Instruments | Aluminum Futures Contracts
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Cost of goods sold	321	(525)	554	(1,509)
Reclassification Out Of Accumulated Other Comprehensive Income | Gain (Loss) on Derivative Financial Instruments | Foreign Currency Forward Contracts
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Cost of goods sold	(16)	(16)	(31)	(31)
Reclassification Out Of Accumulated Other Comprehensive Income | Pension & Other Post-retirement Benefit Adjust.
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Actuarial gain (loss) and prior service costs, before taxes	(3,061)	(3,336)	(6,122)	(6,673)
Income taxes from continuing operations	1,111	1,211	2,222	2,066
Net income	$ (1,950)	$ (2,125)	$ (3,900)	$ (4,607)

Investments (Narrative) (Detail

Investments (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016	Dec. 31, 2008	Aug. 31, 2007
Unrealized gain (loss) on investment under fair value method			$ 24,800	$ 1,100
Gain (Loss) on Disposition of Assets			307	0
kaleo
Kaleo 2016 Q1 gain on contract termination excluded from other expenses	$ 0	$ 58	$ 0	18,075
Total cash invested in private company						$ 7,500
Ownership interest percentage			20.00%
Carrying value	45,000		$ 45,000		$ 20,200
Unrealized gain (loss) on investment under fair value method	$ 21,500	$ 300	$ 24,800	$ 1,100
Weighted average cost of capital			45.00%		45.00%
Basis point decrease of weighted average cost of capital assumption	5.00%		5.00%
Basis point increase of weighted average cost of capital assumption	5.00%		5.00%
Increase in fair value from five hundred point decrease in weighted average cost of capital assumption	$ 9,000		$ 9,000
Decrease in fair value from five hundred point increase in weighted average cost of capital assumption	8,000		8,000
Harbinger Fund
Cost Method Investments	1,700		1,700		$ 1,700
Alleghany and Bath County, Virginia [Member]
Cost Method Investments	$ 1,600		$ 1,600		$ 1,600

Investments (Schedule Of Fair V

Investments (Schedule Of Fair Value Method Investments, Balance Sheets And Income Statements) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016	Dec. 31, 2015
Cost of goods sold	$ 197,372	$ 169,830	$ 379,220	$ 332,882
Cash and cash equivalents	24,026	27,497	24,026	27,497	$ 29,511	$ 44,156
Property & equipment	304,530		304,530		260,725
Other long-term assets	55,573		55,573		30,790
Total assets	807,961		807,961		651,162
Other noncurrent liabilities	187,250		187,250		95,000
Equity	359,428		359,428		310,783
Total liabilities and shareholders’ equity	807,961		807,961		651,162
Income tax benefit (expense)	2,827	1,317	5,246	4,533
Net income	44,204	3,408	47,906	10,690
kaleo
Revenues	67,451	15,020	89,939	11,970
Cost of goods sold	52,071	15,903	85,339	31,394
Cost of Goods Sold, Depreciation and Amortization	(1,241)	(1,437)	(2,478)	(2,199)
Operating Income (Loss)	14,139	(2,320)	2,122	(21,623)
Cash and cash equivalents	108,740		108,740		102,329
Restricted Cash	30		30		31
Other current assets	51,125		51,125		15,391
Property & equipment	11,157		11,157		13,011
Other long-term assets	510		510		472
Total assets	171,562		171,562		131,234
Current liabilities	97,258		97,258		50,134
Long term debt, net	828		828		822
Other noncurrent liabilities	143,692		143,692		143,380
Equity	(70,216)		(70,216)		(63,102)
Total liabilities and shareholders’ equity	171,562		171,562		$ 131,234
Net interest expense and other net	4,815	4,844	9,641	9,688
Income tax benefit (expense)	490	0	490	9
Net income	8,834	(7,106)	(8,009)	(13,245)
Kaleo 2016 Q1 gain on contract termination excluded from other expenses	$ 0	$ 58	$ 0	$ 18,075

Derivative Financial Instrume45

Derivative Financial Instruments (Narrative) (Details) $ in Thousands, lb in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2017USD ($)lb	Dec. 31, 2016USD ($)lb
Derivative [Line Items]
Amounts of unrealized after tax gains (losses) to be Reclassified within Twelve Months	$ (200)
Aluminum Futures Contracts
Derivative [Line Items]
Notional Amount	$ 8,100	$ 8,000
Weight of aluminum that hedged future purchase of aluminum to meet fixed - price forward sales contract obligations, lbs | lb	8.9	9.6
Net asset (liability), Fair Value	$ 241	$ 271
Accrued Expenses [Member] | Derivatives Designated As Hedging Instruments [Member] | Aluminum Futures Contracts
Derivative [Line Items]
Derivative Asset, Fair Value, Gross Asset	411	308
Derivative Liability, Fair Value, Gross Liability	$ 170	$ 37

Derivative Financial Instrume46

Derivative Financial Instruments (Summary Of Location And Fair Value Of Derivative Financial Instruments) (Details) - Aluminum Futures Contracts - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Derivatives, Fair Value [Line Items]
Net asset (liability), Fair Value	$ 241	$ 271
Derivatives Designated As Hedging Instruments [Member] | Accrued Expenses [Member]
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	411	308
Liability derivatives: Fair Value	$ (170)	$ (37)

Derivative Financial Instrume47

Derivative Financial Instruments (Schedule Of Pretax Effect On Net Income (Loss) And Other Comprehensive Income (Loss) Of Derivative Instruments Classified As Cash Flow Hedges) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Foreign Currency Forwards And Options [Member] | Cost Of Sales
Derivative Instruments, Gain (Loss) [Line Items]
Amount of pretax gain (loss) reclassified from accumulated other comprehensive income (loss) to net income (loss) (effective portion)	$ 16	$ 16	$ 31	$ 31
Cash Flow Derivative Hedges | Aluminum Futures Contracts
Derivative Instruments, Gain (Loss) [Line Items]
Amount of pretax gain (loss) recognized in other comprehensive income (loss)	(322)	686	524	137
Cash Flow Derivative Hedges | Aluminum Futures Contracts | Cost Of Sales
Derivative Instruments, Gain (Loss) [Line Items]
Amount of pretax gain (loss) reclassified from accumulated other comprehensive income (loss) to net income (loss) (effective portion)	321	(525)	554	(1,509)
Cash Flow Derivative Hedges | Foreign Currency Forwards And Options
Derivative Instruments, Gain (Loss) [Line Items]
Amount of pretax gain (loss) recognized in other comprehensive income (loss)	$ 0	$ 0	$ 0	$ 0

Pension And Other Post-Retire48

Pension And Other Post-Retirement Benefits (Narrative) (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Amounts Recognized in Balance Sheet	$ (93)	$ (96)
Other Post-Retirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Contribution to pension plans for continuing operations		$ 0.3
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Expected required contributions	6
Contribution to pension plans for continuing operations	1.9
Accrued Expenses [Member]
Defined Benefit Plan Disclosure [Line Items]
Pension and Other Postretirement Defined Benefit Plans, Current Liabilities	$ 1

Pension And Other Post-Retire49

Pension And Other Post-Retirement Benefits (Schedule Of Components Of Net Periodic Benefit Cost For Pension And Other Post-Retirement Benefit Programs) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 58	$ 52	$ 116	$ 124
Interest cost	3,164	3,365	6,328	6,730
Expected return on plan assets	(3,737)	(3,979)	(7,473)	(7,957)
Amortization of prior service costs, gains or losses and net transition asset	3,122	3,384	6,245	6,768
Net periodic benefit cost	2,607	2,822	5,216	5,665
Other Post-Retirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	9	10	18	21
Interest cost	77	84	153	169
Expected return on plan assets		0
Amortization of prior service costs, gains or losses and net transition asset	(62)	(47)	(123)	(95)
Net periodic benefit cost	$ 24	$ 47	$ 48	$ 95

Segment Reporting (Schedule Of

Segment Reporting (Schedule Of Segment Reporting Information By Segment) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Segment Reporting Information [Line Items]
Assets	$ 807,961		$ 807,961		$ 651,162
Total net sales	239,435	$ 201,467	452,154	$ 401,800
Add back freight	7,912	7,066	16,218	14,067
Sales as shown in the Consolidated Statements of Income	247,347	208,533	468,372	415,867
Total Segment Income (Loss)	34,658	12,321	45,112	30,946
Interest income	55	51	129	88
Interest expense	1,642	947	2,822	2,032
Gain on investment accounted for under fair value method			24,800	1,100
Gain (Loss) on Disposition of Assets			307	0
Stock option-based compensation costs	38	31	41	(7)
Corporate expenses, net	7,502	6,969	14,026	14,886
Income from continuing operations before income taxes	47,031	4,725	53,152	15,223
Income taxes from continuing operations	2,827	1,317	5,246	4,533
Net income	44,204	3,408	47,906	10,690
kaleo
Segment Reporting Information [Line Items]
Assets	171,562		171,562		131,234
Gain on investment accounted for under fair value method	21,500	300	24,800	1,100
Income taxes from continuing operations	490	0	490	9
Net income	8,834	(7,106)	(8,009)	(13,245)
PE Films
Segment Reporting Information [Line Items]
Assets	296,728		296,728		278,558
Total net sales	89,639	80,813	176,050	169,295
Operating profit from ongoing operations	10,682	4,318	19,713	14,553
Plant shutdowns, asset impairments, restructurings and other	(904)	(1,356)	(2,972)	(2,491)
Flexible Packaging Films [Member] [Domain]
Segment Reporting Information [Line Items]
Assets	152,311		152,311		156,836
Total net sales	26,588	27,207	53,297	53,585
Operating profit from ongoing operations	(319)	(942)	(2,317)	1,090
Plant shutdowns, asset impairments, restructurings and other	11,856	0	11,856	0
Aluminum Extrusions
Segment Reporting Information [Line Items]
Assets	267,549		267,549		$ 147,639
Total net sales	123,208	93,447	222,807	178,920
Operating profit from ongoing operations	11,772	10,859	21,601	18,359
Plant shutdowns, asset impairments, restructurings and other	$ 1,571	$ (558)	$ (2,769)	$ (565)

Segment Reporting (Schedule O51

Segment Reporting (Schedule Of Identifiable Assets By Segment) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016	Dec. 31, 2015
Stock option-based compensation costs	$ 38	$ 31	$ 41	$ (7)
Subtotal	716,588		716,588		$ 583,033
General corporate	67,347		67,347		38,618
Cash and cash equivalents	24,026	$ 27,497	24,026	$ 27,497	29,511	$ 44,156
Total assets	807,961		807,961		651,162
PE Films
Total assets	296,728		296,728		278,558
Flexible Packaging Films [Member] [Domain]
Total assets	152,311		152,311		156,836
Aluminum Extrusions
Total assets	$ 267,549		$ 267,549		$ 147,639

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Income Taxes [Line Items]
Effective Tax Rate Reconciliation, Escrow Settlement			(7.90%)
Effective Income Tax Rate Reconciliation Unremitted Earnings From Foreign Operations			(0.20%)	(2.00%)
Income Tax Expense (Benefit)	$ 2,827	$ 1,317	$ 5,246	$ 4,533
Deferred Tax Benefit Expense Valuation Allowance Adj Capital Loss Carryforwards			$ 100
Effective Income Tax Rate Reconciliation, Percent			9.90%	29.80%
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest	47,031	4,725	$ 53,152	$ 15,223
Effective Tax Rate Reconciliation Worthless Stock			(15.20%)
Brazilian [Member]
Income Taxes [Line Items]
Effective income tax rate reconciliation social contribution on income			9.00%
Effective Income Tax Rate Reconciliation Federal Statutory Tax Rate Excluding Social Contribution On Income			25.00%
Effective Income Tax Rate Reconciliation Federal Statutory Tax Rate Including Social Contribution On Income			34.00%
Excess Capital Losses From Investments And Other Related Items [Member]
Income Taxes [Line Items]
Deferred Tax Assets, Valuation Allowance	11,200		$ 11,200
Flexible Packaging Films [Member]
Income Taxes [Line Items]
Foreign Earnings Repatriated		$ 10,700
Worthless Stock Tax Deductible Amount	8,100
Foreign Income Tax Expense (Benefit), Continuing Operations	$ 400
Terphane Ltda [Member]
Income Taxes [Line Items]
Current Effective Tax Rate Including Social Contribution On Income			15.25%
LengthBrazilianTaxIncentive			10 years

Income Taxes (Schedule Of Effec

Income Taxes (Schedule Of Effective Income Tax Rate For Continuing Operations) (Details)	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Income Tax Disclosure [Abstract]
Income tax expense at federal statutory rate	35.00%	35.00%
State taxes, net of federal income tax benefit	1.20%	0.50%
Income tax contingency accruals and tax settlements	0.20%	1.50%
Unremitted earnings from foreign operations	(0.20%)	(2.00%)
Effective Income Tax Rate Reconciliation, Repatriation of Foreign Earnings, Amount	(0.80%)	(0.80%)
Changes in estimates related to prior year tax provision	0.60%	(1.30%)
Effective Income Tax Rate Reconciliation Deduction For Foreign Investment Adjustments	(4.40%)	(0.60%)
Non-deductible expenses	0.40%	1.60%
Valuation allowance for foreign operating loss carry-forwards	0.50%	0.30%
Research and development tax credit	(0.50%)	(1.60%)
Foreign rate differences	1.70%	0.10%
Valuation allowance for capital loss carry-forwards	0.00%	(0.70%)
Domestic production activities deduction	(0.70%)	(2.20%)
Effective income tax rate for income from continuing operations	9.90%	29.80%

Contingencies (Details)

Contingencies (Details)	Jun. 30, 2017in
3M vs. Tredegar
Loss Contingencies [Line Items]
Litigation Settlement, Amount	0.00001

New Accounting Pronouncements N

New Accounting Pronouncements New Accounting Pronouncements (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2016
New Accounting Pronouncements [Abstract]
Effect of Adoption on Share-Based Compensation	$ 0.5	$ 1.1