Libbey (LBY) 10-Q 2 May 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2018	Apr. 27, 2018
Entity Information [Line Items]
Entity Registrant Name	LIBBEY INC
Entity Central Index Key	902,274
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Document Type	10-Q
Document Period End Date	Mar. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding		22,082,197

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Net sales	$ 181,913	$ 172,994
Freight billed to customers	757	676
Total revenues	182,670	173,670
Cost of sales	149,000	142,473
Gross profit	33,670	31,197
Selling, general and administrative expenses	31,523	33,332
Income (loss) from operations	2,147	(2,135)
Other income (expense)	(2,107)	(2,786)
Earnings (loss) before interest and income taxes	40	(4,921)
Interest expense	5,084	4,867
Loss before income taxes	(5,044)	(9,788)
Benefit from income taxes	(2,083)	(3,218)
Net loss	$ (2,961)	$ (6,570)
Net loss per share:
Basic	$ (0.13)	$ (0.30)
Diluted	(0.13)	(0.30)
Dividends declared per share	$ 0.1175	$ 0.1175

Condensed Consolidated Stateme3

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Net loss	$ (2,961)	$ (6,570)
Other comprehensive income:
Pension and other post-retirement benefit adjustments, net of tax	755	456
Change in fair value of derivative instruments, net of tax	1,470	165
Foreign currency translation adjustments, net of tax	4,333	1,408
Other comprehensive income, net of tax	6,558	2,029
Comprehensive income (loss)	$ 3,597	$ (4,541)

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Assets:
Cash and cash equivalents	$ 25,746	$ 24,696
Accounts receivable - net	85,593	89,997
Inventories - net	203,644	187,886
Prepaid and other current assets	16,365	12,550
Total current assets	331,348	315,129
Pension asset	3,639	2,939
Purchased intangible assets - net	14,390	14,565
Goodwill	84,412	84,412
Deferred income taxes	25,977	24,892
Other assets	10,740	9,627
Property, plant and equipment - net	266,641	265,675
Total assets	737,147	717,239
Liabilities and Shareholders' Equity:
Accounts payable	73,305	78,346
Salaries and wages	22,806	27,409
Accrued liabilities	43,855	43,223
Accrued income taxes	824	1,862
Pension liability (current portion)	2,341	2,185
Non-pension post-retirement benefits (current portion)	4,181	4,185
Derivative liability	87	697
Long-term debt due within one year	6,177	7,485
Total current liabilities	153,576	165,392
Long-term debt	406,222	376,905
Pension liability	45,451	43,555
Non-pension post-retirement benefits	49,539	49,758
Deferred income taxes	1,926	1,850
Other long-term liabilities	12,378	12,885
Total liabilities	669,092	650,345
Contingencies (Note 14)
Shareholders' equity:
Common stock, par value $.01 per share, 50,000,000 shares authorized, 22,081,592 shares issued in 2018 (22,018,010 shares issued in 2017)	221	220
Capital in excess of par value	333,169	333,011
Retained deficit	(166,446)	(161,165)
Accumulated other comprehensive loss	(98,889)	(105,172)
Total shareholders' equity	68,055	66,894
Total liabilities and shareholders' equity	$ 737,147	$ 717,239

Condensed Consolidated Balance5

Condensed Consolidated Balance Sheets Parenthetical - $ / shares	Mar. 31, 2018	Dec. 31, 2017
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	22,081,592	22,018,010

Condensed Consolidated Stateme6

Condensed Consolidated Statement of Shareholders' Equity Statement - USD ($) $ in Thousands	Total	Common Stock	Capital in Excess of Par Value	Retained Deficit	Accumulated Other Comprehensive Loss
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cumulative-effect adjustment for the adoption of ASU 2017-12				$ 275	$ (275)
Balance, shares at Dec. 31, 2017		22,018,010
Balance, value at Dec. 31, 2017	$ 66,894	$ 220	$ 333,011	(161,165)	(105,172)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(2,961)			(2,961)
Other comprehensive income	6,558				6,558
Stock compensation expense	270		270
Dividends	(2,595)			(2,595)
Stock withheld for employee taxes	(203)		(203)
Stock issued, shares		63,582
Stock issued, value	92	$ 1	91
Balance, shares at Mar. 31, 2018		22,081,592
Balance, value at Mar. 31, 2018	$ 68,055	$ 221	$ 333,169	$ (166,446)	$ (98,889)

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Operating activities:
Net loss	$ (2,961)	$ (6,570)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	11,879	11,155
Loss on asset sales and disposals	92	23
Change in accounts receivable	4,962	1,961
Change in inventories	(14,311)	(3,827)
Change in accounts payable	(4,458)	(3,921)
Accrued interest and amortization of discounts and finance fees	357	378
Pension & non-pension post-retirement benefits, net	1,975	2,116
Accrued liabilities & prepaid expenses	(7,464)	(4,545)
Income taxes	(2,769)	(4,236)
Share-based compensation expense	290	832
Other operating activities	(736)	320
Net cash used in operating activities	(13,144)	(6,314)
Investing activities:
Additions to property, plant and equipment	(11,271)	(11,952)
Net cash used in investing activities	(11,271)	(11,952)
Financing activities:
Borrowings on ABL credit facility	42,177	0
Repayments on ABL credit facility	(12,000)	0
Other repayments	(1,383)	(169)
Repayments on Term Loan B	(1,100)	(6,100)
Taxes paid on distribution of equity awards	(203)	(423)
Dividends	(2,595)	(2,577)
Net cash provided by (used in) financing activities	24,896	(9,269)
Effect of exchange rate fluctuations on cash	569	267
Increase (decrease) in cash	1,050	(27,268)
Cash & cash equivalents at beginning of period	24,696	61,011
Cash & cash equivalents at end of period	25,746	33,743
Supplemental disclosure of cash flow information:
Cash paid during the period for interest	4,588	4,504
Cash paid during the period for income taxes	$ 1,120	$ 779

Description of the Business

Description of the Business	3 Months Ended
	Mar. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of the Business	Description of the Business Libbey is a leading global manufacturer and marketer of glass tableware products. We produce glass tableware in five countries and sell to customers in over 100 countries. We design and market, under our Libbey ® , Libbey Signature ® , Master's Reserve ® , Crisa ® , Royal Leerdam ® , World ® Tableware, Syracuse ® China and Crisal Glass ® brand names (among others), an extensive line of high-quality glass tableware, ceramic dinnerware, metal flatware, hollowware and serveware items for sale primarily in the foodservice, retail and business-to-business channels of distribution. Our sales force presents our tabletop products to the global marketplace in a coordinated fashion. We own and operate two glass tableware manufacturing plants in the United States as well as glass tableware manufacturing plants in Mexico (Libbey Mexico), the Netherlands (Libbey Holland), Portugal (Libbey Portugal) and China (Libbey China). In addition, we import tabletop products from overseas in order to complement our line of manufactured items. The combination of manufacturing and procurement allows us to compete in the global tabletop market by offering an extensive product line at competitive prices. Our website can be found at www.libbey.com . We make available, free of charge, at this website all of our reports filed or furnished pursuant to Section 13(a) or 15(d) of Securities Exchange Act of 1934, including our annual report on Form 10-K, our quarterly reports on Form 10-Q, our current reports on Form 8-K, as well as amendments to those reports. These reports are made available on our website as soon as reasonably practicable after their filing with, or furnishing to, the Securities and Exchange Commission and can also be found at www.sec.gov . Our shares are traded on the NYSE American exchange under the ticker symbol LBY.

Significant Accounting Policies

Significant Accounting Policies	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies Basis of Presentation The accompanying unaudited Condensed Consolidated Financial Statements of Libbey Inc. and its majority-owned subsidiaries (collectively, Libbey or the Company) have been prepared in accordance with U.S. Generally Accepted Accounting Principles (U.S. GAAP) for interim financial information and with the instructions to Form 10-Q and Item 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (including normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three month period ended March 31, 2018 are not necessarily indicative of the results that may be expected for the year ending December 31, 2018 . The balance sheet at December 31, 2017 has been derived from the audited financial statements at that date but does not include all of the information and footnotes required by U.S. GAAP for complete financial statements. The financial information included herein should be read in conjunction with our Consolidated Financial Statements in Item 8 of our Form 10-K for the year ended December 31, 2017 . Cost of Sales Cost of sales includes cost to manufacture and/or purchase products, warehouse, shipping and delivery costs and other costs. Shipping and delivery costs associated with outbound freight after control of a product has transferred to a customer are accounted for as a fulfillment cost and are included in cost of sales. In addition, reimbursement of certain pre-production costs is considered a development activity and is included in cost of sales. Stock-Based Compensation Expense Stock-based compensation expense charged to the Condensed Consolidated Statements of Operations is as follows: Three months ended March 31, (dollars in thousands) 2018 2017 Stock-based compensation expense $ 290 $ 832 Reclassifications In connection with our adoption of ASU 2017-07, certain pension and non-pension expense amounts in prior periods have been reclassified to conform with the current period presentation. See New Accounting Standards - Adopted below. New Accounting Standards - Adopted Each change to U.S. GAAP is established by the Financial Accounting Standards Board (FASB) in the form of an accounting standards update (ASU) to the FASB’s Accounting Standards Codification (ASC). We consider the applicability and impact of all ASUs. ASUs not listed below were assessed and either were determined to be not applicable or are expected to have minimal impact on the Company’s Condensed Consolidated Financial Statements. On January 1, 2018, we adopted ASU 2014-09, Revenue From Contracts With Customers and all related amendments, also known as ASC Topic 606, using the modified retrospective method. There was no cumulative effect adjustment required of initially applying the new standard to existing contracts at adoption on January 1, 2018, and we expect the impact of adopting the new standard to be immaterial to our Condensed Consolidated Statement of Operations on an ongoing basis. Additionally, there was no impact to our Condensed Consolidated Balance Sheets. The enhanced disclosure requirements are included in note 11, Revenue . Results for reporting periods beginning on or after January 1, 2018, are presented under ASC Topic 606, while prior period amounts are not adjusted and continue to be reported in accordance with our previous accounting under ASC Topic 605. On January 1, 2018, we adopted ASU 2017-07, Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Post-retirement Benefit Cost . ASU 2017-07 improves the presentation of net periodic pension and post-retirement benefit costs. We retrospectively adopted the presentation that the service cost component of pension and post-retirement benefit costs be reported within income from operations. The other components of net benefit cost (interest costs, expected return on assets, amortization of prior service costs, settlement charges and other costs) have been reclassified from cost of sales and selling, general and administrative expenses to other income (expense). On a prospective basis, only the service cost component will be capitalized in inventory or property, plant and equipment, when applicable. The effect of the retrospective presentation change related to the net periodic pension and non-pension benefit costs (credits) on our Condensed Consolidated Statement of Operations was as follows: Three months ended March 31, 2017 (dollars in thousands) Previously Reported Reclassification As Revised Cost of sales $ 143,356 $ (883 ) $ 142,473 Selling, general and administrative expenses 32,975 357 33,332 Other income (expense) (2,260 ) (526 ) (2,786 ) On January 1, 2018, we early adopted ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities . ASU 2017-12 amended the hedge accounting rules to simplify the application of hedge accounting guidance and better portray the economic results of risk management activities in the financial statements. As of January 1, 2018, we recorded a $0.3 million reduction to our retained deficit and an increase in accumulated other comprehensive loss related to our natural gas swap contracts in Mexico that were previously not designated as hedging instruments. On a prospective basis, the change in fair value of these derivatives will be recognized in other comprehensive income (loss) rather than other income (expense) within the Condensed Consolidated Statement of Operations. Results and disclosures for reporting periods beginning on or after January 1, 2018, are presented under the new guidance within ASU 2017-12, while prior period amounts and disclosures are not adjusted and continue to be reported in accordance with our previous accounting. See note 8, Derivatives , for further details and disclosures. New Accounting Standards - Not Yet Adopted In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), which requires a lessee to recognize on the balance sheet right-of-use assets and corresponding liabilities for leases with lease terms of more than 12 months. Leases will be classified as either finance or operating leases, with classification affecting the pattern of expense recognition in the income statement. The new guidance also clarifies the definition of a lease and disclosure requirements. ASU 2016-02 is effective for us in the first quarter of 2019. ASU 2016-02 requires lessees and lessors to apply a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. The modified retrospective approach does not require any transition accounting for leases that expired before the earliest comparative period presented. In the first quarter of 2018, the FASB stated they plan to provide an optional transition method permitting an entity to apply the transition provisions of ASU 2016-02 at its adoption date instead of at the earliest comparative period presented in the financial statements. This would ease the transition burden and allow us to record a cumulative effect adjustment to retained earnings as of January 1, 2019, without restatement of the previously reported comparative periods. Therefore, this is our preferred adoption method. We are currently evaluating the extent of the impact the new lease guidance will have on our financial statements and related disclosures, including the additional assets and liabilities that will be recognized on the balance sheet. To facilitate this, we are utilizing a comprehensive approach to review our lease portfolio, have selected a system for managing our leases, and are in the early stages of system implementation and updating of our controls. See note 15, Operating Leases, in our 2017 Annual Report on Form 10-K for the year ended December 31, 2017 for our minimum lease commitments under non-cancellable operating leases. In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments . This standard introduces a new approach to estimating credit losses on certain types of financial instruments, including trade receivables, and modifies the impairment model for available-for-sale debt securities. ASU 2016-13 is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years, with early application permitted. We are currently assessing the impact that this standard will have on our Condensed Consolidated Financial Statements. In February 2018, the FASB issued ASU 2018-02, Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income . This standard allows an optional reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act. Consequently, the stranded tax effects resulting from the Tax Cuts and Jobs Act will be eliminated, resulting in more useful information reported to financial statement users. ASU 2018-02 relates to only the reclassification of the income tax effects of the Tax Cuts and Jobs Act. The underlying guidance requiring that the effect of a change in tax laws or rates be included in income from continuing operations is not affected. ASU 2018-02 is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years, with early application permitted. We are currently assessing the impact that this standard will have on our Condensed Consolidated Financial Statements.

Balance Sheet Details

Balance Sheet Details	3 Months Ended
	Mar. 31, 2018
Balance Sheet Details [Abstract]
Balance Sheet Details	Balance Sheet Details The following table provides detail of selected balance sheet items: (dollars in thousands) March 31, 2018 December 31, 2017 Accounts receivable: Trade receivables $ 84,320 $ 88,786 Other receivables 1,273 1,211 Total accounts receivable, less allowances of $9,803 and $9,051 $ 85,593 $ 89,997 Inventories: Finished goods $ 185,957 $ 170,774 Work in process 1,529 1,485 Raw materials 3,876 3,906 Repair parts 10,738 10,240 Operating supplies 1,544 1,481 Total inventories, less loss provisions of $10,691 and $10,308 $ 203,644 $ 187,886 Accrued liabilities: Accrued incentives $ 18,689 $ 19,728 Other accrued liabilities 25,166 23,495 Total accrued liabilities $ 43,855 $ 43,223

Borrowings

Borrowings	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Borrowings	Borrowings Borrowings consist of the following: (dollars in thousands) Interest Rate Maturity Date March 31, December 31, Borrowings under ABL Facility floating December 7, 2022 (1) $ 30,177 $ — Term Loan B floating (2) April 9, 2021 383,500 384,600 AICEP Loan 0.00% July 30, 2018 1,777 3,085 Total borrowings 415,454 387,685 Less — unamortized discount and finance fees 3,055 3,295 Total borrowings — net 412,399 384,390 Less — long term debt due within one year 6,177 7,485 Total long-term portion of borrowings — net $ 406,222 $ 376,905 ________________________ (1) Maturity date will be January 9, 2021, if Term Loan B is not refinanced by this date. (2) We have entered into an interest rate swap that effectively fixes a series of our future interest payments on a portion of the Term Loan B debt. See interest rate swap in note 8 for additional details. The Term Loan B floating interest rate was 4.72 percent at March 31, 2018. At March 31, 2018 , the available borrowing base under the ABL Facility was offset by a $0.5 million rent reserve. The ABL Facility also provides for the issuance of up to $15.0 million of letters of credit which, when outstanding, are applied against the $100.0 million limit. At March 31, 2018 , $7.5 million in letters of credit were outstanding. Remaining unused availability under the ABL Facility was $61.8 million at March 31, 2018 , compared to $91.9 million at December 31, 2017 .

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For interim tax reporting, we estimate our annual effective tax rate and apply it to our year-to-date ordinary income. Tax jurisdictions with a projected or year-to-date loss for which a tax benefit cannot be realized are excluded from the annualized effective tax rate. The tax effects of unusual or infrequently occurring items, including changes in judgment about valuation allowances and effects of changes in tax laws or rates, are reported in the interim period in which they occur. Our effective tax rate was 41.3 percent for the three months ended March 31, 2018 , compared to 32.9 percent for the three months ended March 31, 2017 . Our effective tax rate for the three months ended March 31, 2018, was above the United States statutory rate of 21 percent and was affected by the timing and mix of pretax income earned in jurisdictions with rates different from the United States statutory rate of (1.1) percent , the impact of foreign exchange of 6.0 percent , and other items including foreign withholding tax and nondeductible expenses of 15.4 percent . Our effective tax rate for the three months ended March 31, 2017, was below the United States statutory rate of 35 percent and was affected by the timing and mix of pretax income earned in jurisdictions with rates different from the United States statutory rate of (28.9) percent , the impact of foreign exchange of 12.7 percent , and other items including foreign withholding tax and nondeductible expenses of 14.1 percent . The Company and its subsidiaries are subject to examination by various countries' tax authorities. These examinations may lead to proposed or assessed adjustments to our taxes. In August 2016, the Mexican tax authority (SAT) assessed one of our Mexican subsidiaries related to the audit of its 2010 tax year. The amount assessed was approximately 3 billion Mexican pesos, which was equivalent to approximately $157 million U.S. dollars as of the date of the assessment. The Company has filed an administrative appeal with SAT requesting that the assessment be fully nullified. We are awaiting the outcome of the appeal. Management, in consultation with external legal counsel, believes that if contested in the Mexican court system, it is more likely than not that the Company would prevail on all significant components of the assessment. Management intends to continue to vigorously contest all significant components of the assessment in the Mexican courts if they are not nullified at the administrative appeal level. We believe that our tax reserves related to uncertain tax positions are adequate at this time. There were no significant developments affecting this matter for the three months ended March 31, 2018. The Tax Cuts and Jobs Act (the Act), enacted December 22, 2017, changed many aspects of the U.S. tax code. Our accounting for the Act is incomplete. As noted at year-end, however, we were able to reasonably estimate certain effects and, therefore, recorded provisional adjustments associated with the deemed repatriation transition tax and the revaluation of our deferred taxes. We have not yet made an accounting policy decision regarding whether we will treat Global Intangible Low Taxed Income (GILTI) as a period cost or establish deferred taxes related thereto. We have not made any additional measurement-period adjustments related to these items during the quarter. However, we are continuing to gather additional information to complete our accounting for these items and expect to complete our accounting within the prescribed measurement period.

Pension and Non-pension Post-re

Pension and Non-pension Post-retirement Benefits	3 Months Ended
	Mar. 31, 2018
Retirement Benefits [Abstract]
Pension and Non-pension Postretirement Benefits	Pension and Non-pension Post-retirement Benefits We have pension plans covering the majority of our employees. Benefits generally are based on compensation and service for salaried employees and job grade and length of service for hourly employees. In addition, we have an unfunded supplemental employee retirement plan (SERP) that covers certain salaried U.S.-based employees of Libbey hired before January 1, 2006. The U.S. pension plans cover the salaried U.S.-based employees of Libbey hired before January 1, 2006, and most hourly U.S.-based employees (excluding employees hired at Shreveport after December 15, 2008 and at Toledo after September 30, 2010). Effective January 1, 2013, we ceased annual company contribution credits to the cash balance accounts in our Libbey U.S. Salaried Pension Plan and SERP. The non-U.S. pension plans cover the employees of our wholly owned subsidiary in Mexico and are unfunded. The components of our net pension expense, including the SERP, are as follows: Three months ended March 31, U.S. Plans Non-U.S. Plans Total (dollars in thousands) 2018 2017 2018 2017 2018 2017 Service cost $ 979 $ 1,075 $ 292 $ 251 $ 1,271 $ 1,326 Interest cost 3,165 3,450 763 637 3,928 4,087 Expected return on plan assets (5,660 ) (5,617 ) — — (5,660 ) (5,617 ) Amortization of unrecognized: Prior service cost (credit) — 59 (51 ) (47 ) (51 ) 12 Actuarial loss 1,637 1,352 159 138 1,796 1,490 Pension expense $ 121 $ 319 $ 1,163 $ 979 $ 1,284 $ 1,298 We have contributed $0.6 million of cash into our pension plans for the three months ended March 31, 2018 . Pension contributions for the remainder of 2018 are estimated to be $1.7 million . We provide certain retiree healthcare and life insurance benefits covering our U.S. and Canadian salaried employees hired before January 1, 2004, and a majority of our union hourly employees (excluding employees hired at Shreveport after December 15, 2008, and at Toledo after September 30, 2010). Employees are generally eligible for benefits upon retirement and completion of a specified number of years of creditable service. Benefits for most hourly retirees are determined by collective bargaining. The U.S. non-pension, post-retirement plans cover the hourly and salaried U.S.-based employees of Libbey (excluding those mentioned above). The non-U.S., non-pension, post-retirement plans cover the retirees and active employees of Libbey who are located in Canada. The post-retirement benefit plans are unfunded. The provision for our non-pension, post-retirement, benefit expense consists of the following: Three months ended March 31, U.S. Plans Non-U.S. Plans Total (dollars in thousands) 2018 2017 2018 2017 2018 2017 Service cost $ 151 $ 220 $ — $ — $ 151 $ 220 Interest cost 456 581 10 11 466 592 Amortization of unrecognized: Prior service cost (credit) (71 ) (50 ) — — (71 ) (50 ) Actuarial loss / (gain) (52 ) 25 (16 ) (13 ) (68 ) 12 Non-pension post-retirement benefit expense $ 484 $ 776 $ (6 ) $ (2 ) $ 478 $ 774 Our 2018 estimate of non-pension cash payments is $4.3 million , and we have paid $0.8 million for the three months ended March 31, 2018 .

Net Income (Loss) per Share of

Net Income (Loss) per Share of Common Stock	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
Net Income (Loss) per Share of Common Stock	Net Loss per Share of Common Stock The following table sets forth the computation of basic and diluted loss per share: Three months ended March 31, (dollars in thousands, except earnings per share) 2018 2017 Numerator for earnings per share: Net loss that is available to common shareholders $ (2,961 ) $ (6,570 ) Denominator for basic earnings per share: Weighted average shares outstanding 22,086,640 21,938,735 Denominator for diluted earnings per share: Effect of stock options and restricted stock units — — Adjusted weighted average shares and assumed conversions 22,086,640 21,938,735 Basic loss per share $ (0.13 ) $ (0.30 ) Diluted loss per share $ (0.13 ) $ (0.30 ) Shares excluded from diluted loss per share due to: Net loss position (excluded from denominator) 79,951 153,750 Inclusion would have been anti-dilutive (excluded from calculation) 1,006,899 615,587 When applicable, diluted shares outstanding include the dilutive impact of restricted stock units. Diluted shares also include the impact of eligible employee stock options, which are calculated based on the average share price for each fiscal period using the treasury stock method.

Derivatives

Derivatives	3 Months Ended
	Mar. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives	Derivatives We utilize derivative financial instruments to hedge certain interest rate risks associated with our long-term debt and commodity price risks associated with forecasted future natural gas requirements. These derivatives, except for the natural gas contracts used in our Mexican manufacturing facilities prior to 2018, qualify for hedge accounting since the hedges are highly effective, and we have designated and documented contemporaneously the hedging relationships involving these derivative instruments. While we intend to continue to meet the conditions for hedge accounting, if hedges do not qualify as highly effective or if we do not believe that forecasted transactions would occur, the changes in the fair value of the derivatives used as hedges would be reflected in our earnings. Prior to January 1, 2018, our derivatives used to reduce economic volatility of natural gas prices in Mexico were not designated as cash flow hedges. All mark-to-market changes on these derivatives were reflected in other income (expense). On January 1, 2018, we adopted ASU 2017-12 for hedge accounting. Under this new guidance, we are now applying contractually specified component hedging to all of our natural gas hedges. This has allowed us to record changes in fair value for outstanding natural gas derivatives to other comprehensive income (loss) beginning January 1, 2018. See note 2 for additional details on the adoption of ASU 2017-12. We do not believe we are exposed to more than a nominal amount of credit risk in our natural gas hedges and interest rate swap as the counterparties are established financial institutions. The counterparties for the derivative agreements are rated BBB+ or better as of March 31, 2018 , by Standard and Poor’s. Fair Values The following table provides the fair values of our derivative financial instruments for the periods presented: (dollars in thousands) Fair Value of Derivative Assets Balance Sheet Location March 31, 2018 December 31, 2017 Cash flow hedges: Interest rate swap Prepaid and other current assets $ 567 $ — Interest rate swap Other assets 1,262 646 Total designated 1,829 646 Total derivative assets $ 1,829 $ 646 Fair Value of Derivative Liabilities March 31, 2018 December 31, 2017 Cash flow hedges: Interest rate swap Derivative liability $ — $ 213 Natural gas contracts Derivative liability 87 220 Natural gas contracts Other long-term liabilities 7 7 Total designated 94 440 Derivatives not designated as hedging instruments: Natural gas contracts Derivative liability — 264 Natural gas contracts Other long-term liabilities — 12 Total undesignated — 276 Total derivative liabilities $ 94 $ 716 The following table presents the notional amount of derivatives on the Condensed Consolidated Balance Sheets: Notional Amounts Derivative Types Unit of Measure March 31, 2018 December 31, 2017 Natural gas contracts Millions of British Thermal Units (MMBTUs) 2,160,000 2,480,000 Interest rate swap Thousands of U.S. dollars $ 220,000 $ 220,000 The following table presents cash settlements (paid) received related to the below derivatives: Three months ended March 31, (dollars in thousands) 2018 2017 Natural gas contracts $ (198 ) $ 116 Interest rate swap (178 ) (600 ) Total $ (376 ) $ (484 ) The following table provides a summary of the impacts of derivative gain (loss) on the Consolidated Statements of Operations and other comprehensive income (OCI): Three months ended March 31, (dollars in thousands) Location 2018 2017 Cash flow hedges: Effective portion of derivative gain (loss) recognized in OCI: Natural gas contracts OCI $ 211 $ (470 ) Interest rate swap OCI 1,253 204 Total $ 1,464 $ (266 ) Effective portion of derivative gain (loss) reclassified from accumulated OCI to current earnings: Natural gas contracts Cost of Sales $ (198 ) $ 67 Interest rate swap Interest expense (143 ) (585 ) Total $ (341 ) $ (518 ) Derivatives not designated as hedging instruments: Gain (loss) recognized in current earnings: Natural gas contracts Other income (expense) — (583 ) Total $ — $ (583 ) Natural Gas Contracts We use natural gas swap contracts related to forecasted future North American natural gas requirements. The objective of these commodity contracts is to limit the fluctuations in prices paid due to price movements in the underlying commodity. We consider our forecasted natural gas requirements in determining the quantity of natural gas to hedge. We combine the forecasts with historical observations to establish the percentage of forecast eligible to be hedged, typically ranging from 40 percent to 70 percent of our anticipated requirements, up to 18 months in the future. The fair values of these instruments are determined from market quotes. Hedge accounting is applied only when the derivative is deemed to be highly effective at offsetting changes in fair values or anticipated cash flows of the hedged item or transaction. For hedged forecasted transactions, hedge accounting is discontinued if the forecasted transaction is no longer probable to occur, and any previously deferred gains or losses would be recorded to earnings immediately. Changes in the fair value of these hedges are recorded in other comprehensive income (loss). As the natural gas contracts mature, the accumulated gains (losses) for the respective contracts are reclassified from accumulated other comprehensive loss to current expense in cost of sales in our Condensed Consolidated Statement of Operations. Based on our current valuation, we estimate that accumulated losses for natural gas currently carried in accumulated other comprehensive loss that will be reclassified into earnings over the next twelve months will result in an immaterial impact to our Condensed Consolidated Statements of Operations. Interest Rate Swap On April 1, 2015, we executed an interest rate swap on our Term Loan B as part of our risk management strategy to mitigate the risks involved with fluctuating interest rates. The interest rate swap effectively converts $220.0 million of our Term Loan B debt from a variable interest rate to a 4.85 percent fixed interest rate, thus reducing the impact of interest rate changes on future income. The fixed rate swap became effective in January 2016 and expires in January 2020. This interest rate swap is valued using the market standard methodology of netting the discounted expected future variable cash receipts and the discounted future fixed cash payments. The variable cash receipts are based on an expectation of future interest rates derived from observed market interest rate forward curves. Our interest rate swap qualifies and is designated as a cash flow hedge at March 31, 2018 , and is accounted for under FASB ASC 815, "Derivatives and Hedging". Hedge accounting is applied only when the derivative is deemed to be highly effective at offsetting changes in fair values or anticipated cash flows of the hedged item or transaction. For hedged forecasted transactions, hedge accounting is discontinued if the forecasted transaction is no longer probable to occur, and any previously deferred gains or losses are recorded to earnings immediately. Changes in the fair value of these hedges are recorded in other comprehensive income (loss). Based on our current valuation, we estimate that accumulated gains currently carried in accumulated other comprehensive loss that will be reclassified into earnings over the next twelve months will result in a reduction to interest expense of $0.6 million in our Condensed Consolidated Statements of Operations.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	3 Months Ended
	Mar. 31, 2018
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) Accumulated other comprehensive income (loss) (AOCI), net of tax, is as follows: Three months ended March 31, 2018 (dollars in thousands) Foreign Currency Translation Derivative Instruments Pension and Other Post-retirement Benefits Accumulated Other Balance December 31, 2017 $ (16,183 ) $ 351 $ (89,340 ) $ (105,172 ) Cumulative-effect adjustment for the adoption of ASU 2017-12 — (275 ) — (275 ) Amounts recognized into AOCI 4,333 1,464 — 5,797 Currency impact — — (484 ) (484 ) Amounts reclassified from AOCI — 341 (1) 1,606 (2) 1,947 Tax effect — (335 ) (367 ) (702 ) Other comprehensive income, net of tax 4,333 1,470 755 6,558 Balance on March 31, 2018 $ (11,850 ) $ 1,546 $ (88,585 ) $ (98,889 ) Three months ended March 31, 2017 Foreign Currency Translation Derivative Instruments Pension and Other Post-retirement Benefits Accumulated Other Balance on December 31, 2016 $ (27,828 ) $ (515 ) $ (96,854 ) $ (125,197 ) Amounts recognized into AOCI 1,408 (266 ) — 1,142 Currency impact — — (480 ) (480 ) Amounts reclassified from AOCI — 518 (1) 1,464 (2) 1,982 Tax effect — (87 ) (528 ) (615 ) Other comprehensive income, net of tax 1,408 165 456 2,029 Balance on March 31, 2017 $ (26,420 ) $ (350 ) $ (96,398 ) $ (123,168 ) ___________________________ (1) We reclassified natural gas contracts through cost of sales and the interest rate swap through interest expense on the Condensed Consolidated Statements of Operations. See note 8 for additional information. (2) We reclassified the net pension and non-pension post-retirement benefits amortization and settlement charges through other income (expense) on the Condensed Consolidated Statements of Operations. See note 6 for additional information.

Segments

Segments	3 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
Segments	Segments Our reporting segments align with our regionally focused organizational structure, which we believe enables us to better serve customers across the globe. Under this structure, we report financial results for U.S. and Canada; Latin America; Europe, the Middle East and Africa (EMEA); and Other. Segment results are based primarily on the geographical destination of the sale. Our three reportable segments are defined below. Our operating segment that does not meet the criteria to be a reportable segment is disclosed as Other. U.S. & Canada—includes sales of manufactured and sourced tableware having an end-market destination in the U.S and Canada, excluding glass products for Original Equipment Manufacturers (OEM), which remain in the Latin America segment. Latin America—includes primarily sales of manufactured and sourced glass tableware having an end-market destination in Latin America, as well as glass products for OEMs regardless of end–market destination. EMEA—includes primarily sales of manufactured and sourced glass tableware having an end-market destination in Europe, the Middle East and Africa. Other—includes primarily sales of manufactured and sourced glass tableware having an end-market destination in Asia Pacific. Our measure of profit for our reportable segments is Segment Earnings before Interest and Taxes (Segment EBIT) and excludes amounts related to certain items we consider not representative of ongoing operations as well as certain retained corporate costs and other allocations that are not considered by management when evaluating performance. Segment EBIT also includes an allocation of manufacturing costs for inventory produced at a Libbey facility that is located in a region other than the end market in which the inventory is sold. This allocation can fluctuate from year to year based on the relative demands for products produced in regions other than the end markets in which they are sold. We use Segment EBIT, along with net sales and selected cash flow information, to evaluate performance and to allocate resources. Segment EBIT for reportable segments includes an allocation of some corporate expenses based on the costs of services performed. Certain activities not related to any particular reportable segment are reported within retained corporate costs. These costs include certain headquarter, administrative and facility costs, and other costs that are global in nature and are not allocable to the reporting segments. The accounting policies of the reportable segments are the same as those described in note 2 . We do not have any customers who represent 10 percent or more of total sales. Inter-segment sales are consummated at arm’s length and are reflected at end-market reporting below. Three months ended March 31, (dollars in thousands) 2018 2017 Net Sales: U.S. & Canada $ 107,941 $ 109,329 Latin America 34,333 30,722 EMEA 32,248 25,331 Other 7,391 7,612 Consolidated $ 181,913 $ 172,994 Segment EBIT: U.S. & Canada $ 4,724 $ 7,501 Latin America 2,150 (3,079 ) EMEA 1,005 (837 ) Other (1,129 ) (1,215 ) Total Segment EBIT $ 6,750 $ 2,370 Reconciliation of Segment EBIT to Net Loss: Segment EBIT $ 6,750 $ 2,370 Retained corporate costs (6,710 ) (7,291 ) Interest expense (5,084 ) (4,867 ) Benefit from income taxes 2,083 3,218 Net loss $ (2,961 ) $ (6,570 ) Depreciation & Amortization: U.S. & Canada $ 3,387 $ 3,082 Latin America 4,710 4,397 EMEA 2,009 1,844 Other 1,314 1,354 Corporate 459 478 Consolidated $ 11,879 $ 11,155 Capital Expenditures: U.S. & Canada $ 7,137 $ 1,937 Latin America 2,389 6,982 EMEA 1,294 2,763 Other 120 213 Corporate 331 57 Consolidated $ 11,271 $ 11,952

Revenue

Revenue	3 Months Ended
	Mar. 31, 2018
Revenue from Contract with Customer [Abstract]
Revenue	Revenue Our primary source of revenue is the sale of glassware products manufactured within a Libbey facility, as well as globally sourced tabletop products including glassware, ceramicware, metalware and others. Our customer contracts generally include a single performance obligation, the shipment of specified products, and are recognized at a point in time when control of the product has transferred to the customer, which primarily takes place when risk of loss transfers in accordance with applicable shipping terms. Revenue is recognized based on the consideration specified in a contract with the customer, and is measured as the amount of consideration we expect to be entitled in exchange for transferring goods or providing services. When applicable, the transaction price includes estimates of variable consideration to the extent it is probable that a significant reversal of revenue recognized will not occur. We estimate provisions for rebates, customer incentives, allowances, returns and discounts based on the terms of the contracts, historical experience and anticipated customer purchases during the rebate period. We continually evaluate the adequacy of these methods used, adjusting our estimates when the amount of consideration we expect to be entitled changes. Refund liabilities are included in accrued liabilities on the Condensed Consolidated Balance Sheet. Our payment terms are based on customary business practices and can vary by region and customer type, but are generally 0 - 90 days. Since the term between invoicing and expected payment is less than a year, we do not adjust the transaction price for the effects of a financing component. Taxes collected from customers are excluded from revenues and credited directly to obligations to the appropriate governmental agencies. For the three months ended March 31, 2018, bad debt expense was immaterial. Additionally, adjustments related to revenue recognized in prior periods was not material for the three months ended March 31, 2018. There were no material contract assets, contract liabilities or deferred contract costs recorded on the Condensed Consolidated Balance Sheet as of March 31, 2018. For contracts with a duration of less than one year, we follow an allowable practical expedient and expense contract acquisition costs when incurred. We do not have any costs to obtain or fulfill a contract that are capitalized under ASC Topic 606. Disaggregation of Revenue: The following table presents our net sales disaggregated by business channel: Three months ended (dollars in thousands) March 31, 2018 Foodservice $ 76,173 Retail 55,761 Business-to-business 49,979 Consolidated $ 181,913 Each operating segment has revenues across all our business channels. Each channel has a different marketing strategy, customer base and product composition. Over 75 percent of each segment's revenue is derived from the following business channels: U.S. and Canada from foodservice and retail; Latin America from retail and business-to-business; and EMEA from business-to-business and retail. Foodservice The majority of our tabletop products sold in the foodservice channel are sold through a network of foodservice distributors. Our strong foodservice distributor network and in-house sales force provide broad coverage to a wide variety of foodservice establishments, including restaurants, bars, hotels and other travel and tourism venues. A high percentage of foodservice sales are replacements, driving a relatively predictable revenue stream. Retail Our primary customers in the retail channel include mass merchants, department stores, national retail chains, pure play e-commerce retailers or marketers, retail and wholesale distributors, value-oriented retailers, grocers and specialty housewares stores. We also operate outlet stores in the U.S. and Mexico. Business-to-business Our customers for products sold in the diverse business-to-business channel include beverage companies and custom decorators of glassware for promotional purposes and resale. In addition, sales of our products in this channel include products for candle and floral applications, craft industries and gourmet food-packing companies. Latin America also sells blender jars and various OEM products in this channel.

Fair Value

Fair Value	3 Months Ended
	Mar. 31, 2018
Fair Value Disclosures [Abstract]
Fair Value	Fair Value Fair value is the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. The fair value hierarchy prioritizes the inputs used in measuring fair value into three broad levels as follows: • Level 1 — Quoted prices in active markets for identical assets or liabilities; • Level 2 — Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and • Level 3 — Unobservable inputs based on our own assumptions. The fair value of our derivative financial instruments by level is as follows: Fair Value at Fair Value at Asset / (Liability) (dollars in thousands) March 31, 2018 December 31, 2017 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Commodity futures natural gas contracts $ — $ (94 ) $ — $ (94 ) $ — $ (503 ) $ — $ (503 ) Interest rate swap — 1,829 — 1,829 — 433 — 433 Net derivative asset (liability) $ — $ 1,735 $ — $ 1,735 $ — $ (70 ) $ — $ (70 ) The fair values of our commodity futures natural gas contracts are determined using observable market inputs. The fair value of our interest rate swap is based on the market standard methodology of netting the discounted expected future variable cash receipts and the discounted future fixed cash payments. The variable cash receipts are based on an expectation of future interest rates derived from observed market interest rate forward curves. Since these inputs are observable in active markets over the terms that the instruments are held, the derivatives are classified as Level 2 in the hierarchy. We also evaluate Company and counterparty risk in determining fair values. The commodity futures natural gas contracts and interest rate swap are hedges of either recorded assets or liabilities or anticipated transactions. Changes in values of the underlying hedged assets and liabilities or anticipated transactions are not reflected in the above table. Financial instruments carried at cost on the Condensed Consolidated Balance Sheets, as well as the related fair values, are as follows: March 31, 2018 December 31, 2017 (dollars in thousands) Fair Value Hierarchy Level Carrying Amount Fair Value Carrying Amount Fair Value Term Loan B Level 2 $ 383,500 $ 378,227 $ 384,600 $ 370,178 The fair value of our Term Loan B has been calculated based on quoted market prices for the same or similar issues, and the fair value of our ABL Facility approximates carrying value due to variable rates. The fair value of our other immaterial debt approximates carrying value at March 31, 2018 and December 31, 2017 . The fair value of our cash and cash equivalents, accounts receivable and accounts payable approximate their carrying value due to their short term nature.

Other Income (Expense)

Other Income (Expense)	3 Months Ended
	Mar. 31, 2018
Other Income and Expenses [Abstract]
Other Income (Expense)	Other Income (Expense) Items included in other income (expense) in the Condensed Consolidated Statements of Operations are as follows: Three months ended March 31, (dollars in thousands) 2018 2017 Gain (loss) on currency transactions $ (1,650 ) $ (1,544 ) Gain (loss) on mark-to-market natural gas contracts — (582 ) Pension and non-pension benefits, excluding service cost (340 ) (526 ) Other non-operating income (expense) (117 ) (134 ) Other income (expense) $ (2,107 ) $ (2,786 )

Contingencies

Contingencies	3 Months Ended
	Mar. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Contingencies Legal Proceedings From time to time, we are identified as a "potentially responsible party" (PRP) under the Comprehensive Environmental Response, Compensation and Liability Act of 1980 (CERCLA) and/or similar state laws that impose liability without regard to fault for costs and damages relating to the investigation and clean-up of contamination resulting from releases or threatened releases of hazardous substances. We are also subject to similar laws in some of the countries where our facilities are located. Our environmental, health and safety department monitors compliance with applicable laws on a global basis. Although we cannot predict the ultimate outcome of any proceedings, we believe that our environmental legal proceedings will not have a material adverse impact on our financial condition, results of operations or liquidity. There were no significant changes to our environmental legal proceedings since December 31, 2017 . Please refer to Part II, Item 8. “Financial Statements and Supplementary Data,” note 17, Contingencies, included in our 2017 Annual Report on Form 10-K for a more complete discussion. Income Taxes The Company and its subsidiaries are subject to examination by various countries' tax authorities. These examinations may lead to proposed or assessed adjustments to our taxes. Please refer to note 5 , Income Taxes, for a detailed discussion on tax contingencies.

Significant Accounting Polici22

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited Condensed Consolidated Financial Statements of Libbey Inc. and its majority-owned subsidiaries (collectively, Libbey or the Company) have been prepared in accordance with U.S. Generally Accepted Accounting Principles (U.S. GAAP) for interim financial information and with the instructions to Form 10-Q and Item 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (including normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three month period ended March 31, 2018 are not necessarily indicative of the results that may be expected for the year ending December 31, 2018 . The balance sheet at December 31, 2017 has been derived from the audited financial statements at that date but does not include all of the information and footnotes required by U.S. GAAP for complete financial statements. The financial information included herein should be read in conjunction with our Consolidated Financial Statements in Item 8 of our Form 10-K for the year ended December 31, 2017 .
Cost of Sales, Policy	Cost of Sales Cost of sales includes cost to manufacture and/or purchase products, warehouse, shipping and delivery costs and other costs. Shipping and delivery costs associated with outbound freight after control of a product has transferred to a customer are accounted for as a fulfillment cost and are included in cost of sales. In addition, reimbursement of certain pre-production costs is considered a development activity and is included in cost of sales.
Reclassifications	Reclassifications In connection with our adoption of ASU 2017-07, certain pension and non-pension expense amounts in prior periods have been reclassified to conform with the current period presentation. See New Accounting Standards - Adopted below.
New Accounting Standards	New Accounting Standards - Adopted Each change to U.S. GAAP is established by the Financial Accounting Standards Board (FASB) in the form of an accounting standards update (ASU) to the FASB’s Accounting Standards Codification (ASC). We consider the applicability and impact of all ASUs. ASUs not listed below were assessed and either were determined to be not applicable or are expected to have minimal impact on the Company’s Condensed Consolidated Financial Statements. On January 1, 2018, we adopted ASU 2014-09, Revenue From Contracts With Customers and all related amendments, also known as ASC Topic 606, using the modified retrospective method. There was no cumulative effect adjustment required of initially applying the new standard to existing contracts at adoption on January 1, 2018, and we expect the impact of adopting the new standard to be immaterial to our Condensed Consolidated Statement of Operations on an ongoing basis. Additionally, there was no impact to our Condensed Consolidated Balance Sheets. The enhanced disclosure requirements are included in note 11, Revenue . Results for reporting periods beginning on or after January 1, 2018, are presented under ASC Topic 606, while prior period amounts are not adjusted and continue to be reported in accordance with our previous accounting under ASC Topic 605. On January 1, 2018, we adopted ASU 2017-07, Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Post-retirement Benefit Cost . ASU 2017-07 improves the presentation of net periodic pension and post-retirement benefit costs. We retrospectively adopted the presentation that the service cost component of pension and post-retirement benefit costs be reported within income from operations. The other components of net benefit cost (interest costs, expected return on assets, amortization of prior service costs, settlement charges and other costs) have been reclassified from cost of sales and selling, general and administrative expenses to other income (expense). On a prospective basis, only the service cost component will be capitalized in inventory or property, plant and equipment, when applicable. On January 1, 2018, we early adopted ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities . ASU 2017-12 amended the hedge accounting rules to simplify the application of hedge accounting guidance and better portray the economic results of risk management activities in the financial statements. As of January 1, 2018, we recorded a $0.3 million reduction to our retained deficit and an increase in accumulated other comprehensive loss related to our natural gas swap contracts in Mexico that were previously not designated as hedging instruments. On a prospective basis, the change in fair value of these derivatives will be recognized in other comprehensive income (loss) rather than other income (expense) within the Condensed Consolidated Statement of Operations. Results and disclosures for reporting periods beginning on or after January 1, 2018, are presented under the new guidance within ASU 2017-12, while prior period amounts and disclosures are not adjusted and continue to be reported in accordance with our previous accounting. New Accounting Standards - Adopted Each change to U.S. GAAP is established by the Financial Accounting Standards Board (FASB) in the form of an accounting standards update (ASU) to the FASB’s Accounting Standards Codification (ASC). We consider the applicability and impact of all ASUs. ASUs not listed below were assessed and either were determined to be not applicable or are expected to have minimal impact on the Company’s Condensed Consolidated Financial Statements. On January 1, 2018, we adopted ASU 2014-09, Revenue From Contracts With Customers and all related amendments, also known as ASC Topic 606, using the modified retrospective method. There was no cumulative effect adjustment required of initially applying the new standard to existing contracts at adoption on January 1, 2018, and we expect the impact of adopting the new standard to be immaterial to our Condensed Consolidated Statement of Operations on an ongoing basis. Additionally, there was no impact to our Condensed Consolidated Balance Sheets. The enhanced disclosure requirements are included in note 11, Revenue . Results for reporting periods beginning on or after January 1, 2018, are presented under ASC Topic 606, while prior period amounts are not adjusted and continue to be reported in accordance with our previous accounting under ASC Topic 605. On January 1, 2018, we adopted ASU 2017-07, Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Post-retirement Benefit Cost . ASU 2017-07 improves the presentation of net periodic pension and post-retirement benefit costs. We retrospectively adopted the presentation that the service cost component of pension and post-retirement benefit costs be reported within income from operations. The other components of net benefit cost (interest costs, expected return on assets, amortization of prior service costs, settlement charges and other costs) have been reclassified from cost of sales and selling, general and administrative expenses to other income (expense). On a prospective basis, only the service cost component will be capitalized in inventory or property, plant and equipment, when applicable. The effect of the retrospective presentation change related to the net periodic pension and non-pension benefit costs (credits) on our Condensed Consolidated Statement of Operations was as follows: Three months ended March 31, 2017 (dollars in thousands) Previously Reported Reclassification As Revised Cost of sales $ 143,356 $ (883 ) $ 142,473 Selling, general and administrative expenses 32,975 357 33,332 Other income (expense) (2,260 ) (526 ) (2,786 ) On January 1, 2018, we early adopted ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities . ASU 2017-12 amended the hedge accounting rules to simplify the application of hedge accounting guidance and better portray the economic results of risk management activities in the financial statements. As of January 1, 2018, we recorded a $0.3 million reduction to our retained deficit and an increase in accumulated other comprehensive loss related to our natural gas swap contracts in Mexico that were previously not designated as hedging instruments. On a prospective basis, the change in fair value of these derivatives will be recognized in other comprehensive income (loss) rather than other income (expense) within the Condensed Consolidated Statement of Operations. Results and disclosures for reporting periods beginning on or after January 1, 2018, are presented under the new guidance within ASU 2017-12, while prior period amounts and disclosures are not adjusted and continue to be reported in accordance with our previous accounting. See note 8, Derivatives , for further details and disclosures. New Accounting Standards - Not Yet Adopted In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), which requires a lessee to recognize on the balance sheet right-of-use assets and corresponding liabilities for leases with lease terms of more than 12 months. Leases will be classified as either finance or operating leases, with classification affecting the pattern of expense recognition in the income statement. The new guidance also clarifies the definition of a lease and disclosure requirements. ASU 2016-02 is effective for us in the first quarter of 2019. ASU 2016-02 requires lessees and lessors to apply a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. The modified retrospective approach does not require any transition accounting for leases that expired before the earliest comparative period presented. In the first quarter of 2018, the FASB stated they plan to provide an optional transition method permitting an entity to apply the transition provisions of ASU 2016-02 at its adoption date instead of at the earliest comparative period presented in the financial statements. This would ease the transition burden and allow us to record a cumulative effect adjustment to retained earnings as of January 1, 2019, without restatement of the previously reported comparative periods. Therefore, this is our preferred adoption method. We are currently evaluating the extent of the impact the new lease guidance will have on our financial statements and related disclosures, including the additional assets and liabilities that will be recognized on the balance sheet. To facilitate this, we are utilizing a comprehensive approach to review our lease portfolio, have selected a system for managing our leases, and are in the early stages of system implementation and updating of our controls. See note 15, Operating Leases, in our 2017 Annual Report on Form 10-K for the year ended December 31, 2017 for our minimum lease commitments under non-cancellable operating leases. In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments . This standard introduces a new approach to estimating credit losses on certain types of financial instruments, including trade receivables, and modifies the impairment model for available-for-sale debt securities. ASU 2016-13 is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years, with early application permitted. We are currently assessing the impact that this standard will have on our Condensed Consolidated Financial Statements. In February 2018, the FASB issued ASU 2018-02, Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income . This standard allows an optional reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act. Consequently, the stranded tax effects resulting from the Tax Cuts and Jobs Act will be eliminated, resulting in more useful information reported to financial statement users. ASU 2018-02 relates to only the reclassification of the income tax effects of the Tax Cuts and Jobs Act. The underlying guidance requiring that the effect of a change in tax laws or rates be included in income from continuing operations is not affected. ASU 2018-02 is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years, with early application permitted. We are currently assessing the impact that this standard will have on our Condensed Consolidated Financial Statements.
Income Tax, Policy	For interim tax reporting, we estimate our annual effective tax rate and apply it to our year-to-date ordinary income. Tax jurisdictions with a projected or year-to-date loss for which a tax benefit cannot be realized are excluded from the annualized effective tax rate. The tax effects of unusual or infrequently occurring items, including changes in judgment about valuation allowances and effects of changes in tax laws or rates, are reported in the interim period in which they occur.
Pension and Other Post-retirement Plans, Pensions, Policy	We have pension plans covering the majority of our employees. Benefits generally are based on compensation and service for salaried employees and job grade and length of service for hourly employees. In addition, we have an unfunded supplemental employee retirement plan (SERP) that covers certain salaried U.S.-based employees of Libbey hired before January 1, 2006. The U.S. pension plans cover the salaried U.S.-based employees of Libbey hired before January 1, 2006, and most hourly U.S.-based employees (excluding employees hired at Shreveport after December 15, 2008 and at Toledo after September 30, 2010). Effective January 1, 2013, we ceased annual company contribution credits to the cash balance accounts in our Libbey U.S. Salaried Pension Plan and SERP. The non-U.S. pension plans cover the employees of our wholly owned subsidiary in Mexico and are unfunded.
Pension and Other Post-retirement Plans, Nonpension Benefits, Policy	We provide certain retiree healthcare and life insurance benefits covering our U.S. and Canadian salaried employees hired before January 1, 2004, and a majority of our union hourly employees (excluding employees hired at Shreveport after December 15, 2008, and at Toledo after September 30, 2010). Employees are generally eligible for benefits upon retirement and completion of a specified number of years of creditable service. Benefits for most hourly retirees are determined by collective bargaining. The U.S. non-pension, post-retirement plans cover the hourly and salaried U.S.-based employees of Libbey (excluding those mentioned above). The non-U.S., non-pension, post-retirement plans cover the retirees and active employees of Libbey who are located in Canada. The post-retirement benefit plans are unfunded.
Earnings Per Share, Policy	When applicable, diluted shares outstanding include the dilutive impact of restricted stock units. Diluted shares also include the impact of eligible employee stock options, which are calculated based on the average share price for each fiscal period using the treasury stock method.
Derivatives, Policy	Derivatives We utilize derivative financial instruments to hedge certain interest rate risks associated with our long-term debt and commodity price risks associated with forecasted future natural gas requirements. These derivatives, except for the natural gas contracts used in our Mexican manufacturing facilities prior to 2018, qualify for hedge accounting since the hedges are highly effective, and we have designated and documented contemporaneously the hedging relationships involving these derivative instruments. While we intend to continue to meet the conditions for hedge accounting, if hedges do not qualify as highly effective or if we do not believe that forecasted transactions would occur, the changes in the fair value of the derivatives used as hedges would be reflected in our earnings. Prior to January 1, 2018, our derivatives used to reduce economic volatility of natural gas prices in Mexico were not designated as cash flow hedges. All mark-to-market changes on these derivatives were reflected in other income (expense). On January 1, 2018, we adopted ASU 2017-12 for hedge accounting. Under this new guidance, we are now applying contractually specified component hedging to all of our natural gas hedges. This has allowed us to record changes in fair value for outstanding natural gas derivatives to other comprehensive income (loss) beginning January 1, 2018.
Segment Reporting, Policy	Segments Our reporting segments align with our regionally focused organizational structure, which we believe enables us to better serve customers across the globe. Under this structure, we report financial results for U.S. and Canada; Latin America; Europe, the Middle East and Africa (EMEA); and Other. Segment results are based primarily on the geographical destination of the sale. Our three reportable segments are defined below. Our operating segment that does not meet the criteria to be a reportable segment is disclosed as Other. U.S. & Canada—includes sales of manufactured and sourced tableware having an end-market destination in the U.S and Canada, excluding glass products for Original Equipment Manufacturers (OEM), which remain in the Latin America segment. Latin America—includes primarily sales of manufactured and sourced glass tableware having an end-market destination in Latin America, as well as glass products for OEMs regardless of end–market destination. EMEA—includes primarily sales of manufactured and sourced glass tableware having an end-market destination in Europe, the Middle East and Africa. Other—includes primarily sales of manufactured and sourced glass tableware having an end-market destination in Asia Pacific. Our measure of profit for our reportable segments is Segment Earnings before Interest and Taxes (Segment EBIT) and excludes amounts related to certain items we consider not representative of ongoing operations as well as certain retained corporate costs and other allocations that are not considered by management when evaluating performance. Segment EBIT also includes an allocation of manufacturing costs for inventory produced at a Libbey facility that is located in a region other than the end market in which the inventory is sold. This allocation can fluctuate from year to year based on the relative demands for products produced in regions other than the end markets in which they are sold. We use Segment EBIT, along with net sales and selected cash flow information, to evaluate performance and to allocate resources. Segment EBIT for reportable segments includes an allocation of some corporate expenses based on the costs of services performed. Certain activities not related to any particular reportable segment are reported within retained corporate costs. These costs include certain headquarter, administrative and facility costs, and other costs that are global in nature and are not allocable to the reporting segments. The accounting policies of the reportable segments are the same as those described in note 2 . We do not have any customers who represent 10 percent or more of total sales. Inter-segment sales are consummated at arm’s length and are reflected at end-market reporting below.
Revenue, Policy	Our primary source of revenue is the sale of glassware products manufactured within a Libbey facility, as well as globally sourced tabletop products including glassware, ceramicware, metalware and others. Our customer contracts generally include a single performance obligation, the shipment of specified products, and are recognized at a point in time when control of the product has transferred to the customer, which primarily takes place when risk of loss transfers in accordance with applicable shipping terms. Revenue is recognized based on the consideration specified in a contract with the customer, and is measured as the amount of consideration we expect to be entitled in exchange for transferring goods or providing services. When applicable, the transaction price includes estimates of variable consideration to the extent it is probable that a significant reversal of revenue recognized will not occur. We estimate provisions for rebates, customer incentives, allowances, returns and discounts based on the terms of the contracts, historical experience and anticipated customer purchases during the rebate period. We continually evaluate the adequacy of these methods used, adjusting our estimates when the amount of consideration we expect to be entitled changes. Refund liabilities are included in accrued liabilities on the Condensed Consolidated Balance Sheet. Our payment terms are based on customary business practices and can vary by region and customer type, but are generally 0 - 90 days. Since the term between invoicing and expected payment is less than a year, we do not adjust the transaction price for the effects of a financing component. Taxes collected from customers are excluded from revenues and credited directly to obligations to the appropriate governmental agencies.
Fair Value of Financial Instruments, Policy	The fair values of our commodity futures natural gas contracts are determined using observable market inputs. The fair value of our interest rate swap is based on the market standard methodology of netting the discounted expected future variable cash receipts and the discounted future fixed cash payments. The variable cash receipts are based on an expectation of future interest rates derived from observed market interest rate forward curves. Since these inputs are observable in active markets over the terms that the instruments are held, the derivatives are classified as Level 2 in the hierarchy. We also evaluate Company and counterparty risk in determining fair values. The commodity futures natural gas contracts and interest rate swap are hedges of either recorded assets or liabilities or anticipated transactions.

Significant Accounting Polici23

Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]	Stock-based compensation expense charged to the Condensed Consolidated Statements of Operations is as follows: Three months ended March 31, (dollars in thousands) 2018 2017 Stock-based compensation expense $ 290 $ 832
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block]	The effect of the retrospective presentation change related to the net periodic pension and non-pension benefit costs (credits) on our Condensed Consolidated Statement of Operations was as follows: Three months ended March 31, 2017 (dollars in thousands) Previously Reported Reclassification As Revised Cost of sales $ 143,356 $ (883 ) $ 142,473 Selling, general and administrative expenses 32,975 357 33,332 Other income (expense) (2,260 ) (526 ) (2,786 )

Balance Sheet Details (Tables)

Balance Sheet Details (Tables)	3 Months Ended
	Mar. 31, 2018
Balance Sheet Details [Abstract]
Schedule of Other Assets and Other Liabilities [Table Text Block]	The following table provides detail of selected balance sheet items: (dollars in thousands) March 31, 2018 December 31, 2017 Accounts receivable: Trade receivables $ 84,320 $ 88,786 Other receivables 1,273 1,211 Total accounts receivable, less allowances of $9,803 and $9,051 $ 85,593 $ 89,997 Inventories: Finished goods $ 185,957 $ 170,774 Work in process 1,529 1,485 Raw materials 3,876 3,906 Repair parts 10,738 10,240 Operating supplies 1,544 1,481 Total inventories, less loss provisions of $10,691 and $10,308 $ 203,644 $ 187,886 Accrued liabilities: Accrued incentives $ 18,689 $ 19,728 Other accrued liabilities 25,166 23,495 Total accrued liabilities $ 43,855 $ 43,223

Borrowings (Tables)

Borrowings (Tables)	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Schedule of Debt [Table Text Block]	Borrowings consist of the following: (dollars in thousands) Interest Rate Maturity Date March 31, December 31, Borrowings under ABL Facility floating December 7, 2022 (1) $ 30,177 $ — Term Loan B floating (2) April 9, 2021 383,500 384,600 AICEP Loan 0.00% July 30, 2018 1,777 3,085 Total borrowings 415,454 387,685 Less — unamortized discount and finance fees 3,055 3,295 Total borrowings — net 412,399 384,390 Less — long term debt due within one year 6,177 7,485 Total long-term portion of borrowings — net $ 406,222 $ 376,905 ________________________ (1) Maturity date will be January 9, 2021, if Term Loan B is not refinanced by this date. (2) We have entered into an interest rate swap that effectively fixes a series of our future interest payments on a portion of the Term Loan B debt. See interest rate swap in note 8 for additional details. The Term Loan B floating interest rate was 4.72 percent at March 31, 2018.

Pension and Non-pension Post-26

Pension and Non-pension Post-retirement Benefits (Tables)	3 Months Ended
	Mar. 31, 2018
Defined Benefit Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Schedule of Net Benefit Costs [Table Text Block]	The components of our net pension expense, including the SERP, are as follows: Three months ended March 31, U.S. Plans Non-U.S. Plans Total (dollars in thousands) 2018 2017 2018 2017 2018 2017 Service cost $ 979 $ 1,075 $ 292 $ 251 $ 1,271 $ 1,326 Interest cost 3,165 3,450 763 637 3,928 4,087 Expected return on plan assets (5,660 ) (5,617 ) — — (5,660 ) (5,617 ) Amortization of unrecognized: Prior service cost (credit) — 59 (51 ) (47 ) (51 ) 12 Actuarial loss 1,637 1,352 159 138 1,796 1,490 Pension expense $ 121 $ 319 $ 1,163 $ 979 $ 1,284 $ 1,298
Non-Pension Postretirement Benefit Plans
Defined Benefit Plan Disclosure [Line Items]
Schedule of Net Benefit Costs [Table Text Block]	The provision for our non-pension, post-retirement, benefit expense consists of the following: Three months ended March 31, U.S. Plans Non-U.S. Plans Total (dollars in thousands) 2018 2017 2018 2017 2018 2017 Service cost $ 151 $ 220 $ — $ — $ 151 $ 220 Interest cost 456 581 10 11 466 592 Amortization of unrecognized: Prior service cost (credit) (71 ) (50 ) — — (71 ) (50 ) Actuarial loss / (gain) (52 ) 25 (16 ) (13 ) (68 ) 12 Non-pension post-retirement benefit expense $ 484 $ 776 $ (6 ) $ (2 ) $ 478 $ 774

Net Income (Loss) per Share o27

Net Income (Loss) per Share of Common Stock (Tables)	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	The following table sets forth the computation of basic and diluted loss per share: Three months ended March 31, (dollars in thousands, except earnings per share) 2018 2017 Numerator for earnings per share: Net loss that is available to common shareholders $ (2,961 ) $ (6,570 ) Denominator for basic earnings per share: Weighted average shares outstanding 22,086,640 21,938,735 Denominator for diluted earnings per share: Effect of stock options and restricted stock units — — Adjusted weighted average shares and assumed conversions 22,086,640 21,938,735 Basic loss per share $ (0.13 ) $ (0.30 ) Diluted loss per share $ (0.13 ) $ (0.30 ) Shares excluded from diluted loss per share due to: Net loss position (excluded from denominator) 79,951 153,750 Inclusion would have been anti-dilutive (excluded from calculation) 1,006,899 615,587

Derivatives (Tables)

Derivatives (Tables)	3 Months Ended
	Mar. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Assets and Liabilities at Fair Value	The following table provides the fair values of our derivative financial instruments for the periods presented: (dollars in thousands) Fair Value of Derivative Assets Balance Sheet Location March 31, 2018 December 31, 2017 Cash flow hedges: Interest rate swap Prepaid and other current assets $ 567 $ — Interest rate swap Other assets 1,262 646 Total designated 1,829 646 Total derivative assets $ 1,829 $ 646 Fair Value of Derivative Liabilities March 31, 2018 December 31, 2017 Cash flow hedges: Interest rate swap Derivative liability $ — $ 213 Natural gas contracts Derivative liability 87 220 Natural gas contracts Other long-term liabilities 7 7 Total designated 94 440 Derivatives not designated as hedging instruments: Natural gas contracts Derivative liability — 264 Natural gas contracts Other long-term liabilities — 12 Total undesignated — 276 Total derivative liabilities $ 94 $ 716
Schedule of Notional Amounts of Outstanding Derivative Positions	The following table presents the notional amount of derivatives on the Condensed Consolidated Balance Sheets: Notional Amounts Derivative Types Unit of Measure March 31, 2018 December 31, 2017 Natural gas contracts Millions of British Thermal Units (MMBTUs) 2,160,000 2,480,000 Interest rate swap Thousands of U.S. dollars $ 220,000 $ 220,000
Schedule of Derivative Instruments	The following table presents cash settlements (paid) received related to the below derivatives: Three months ended March 31, (dollars in thousands) 2018 2017 Natural gas contracts $ (198 ) $ 116 Interest rate swap (178 ) (600 ) Total $ (376 ) $ (484 )
Summary of the Gain (Loss) Recognized in the Statement of Operations	The following table provides a summary of the impacts of derivative gain (loss) on the Consolidated Statements of Operations and other comprehensive income (OCI): Three months ended March 31, (dollars in thousands) Location 2018 2017 Cash flow hedges: Effective portion of derivative gain (loss) recognized in OCI: Natural gas contracts OCI $ 211 $ (470 ) Interest rate swap OCI 1,253 204 Total $ 1,464 $ (266 ) Effective portion of derivative gain (loss) reclassified from accumulated OCI to current earnings: Natural gas contracts Cost of Sales $ (198 ) $ 67 Interest rate swap Interest expense (143 ) (585 ) Total $ (341 ) $ (518 ) Derivatives not designated as hedging instruments: Gain (loss) recognized in current earnings: Natural gas contracts Other income (expense) — (583 ) Total $ — $ (583 )

Accumulated Other Comprehensi29

Accumulated Other Comprehensive Income (Loss) (Tables)	3 Months Ended
	Mar. 31, 2018
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	Accumulated other comprehensive income (loss) (AOCI), net of tax, is as follows: Three months ended March 31, 2018 (dollars in thousands) Foreign Currency Translation Derivative Instruments Pension and Other Post-retirement Benefits Accumulated Other Balance December 31, 2017 $ (16,183 ) $ 351 $ (89,340 ) $ (105,172 ) Cumulative-effect adjustment for the adoption of ASU 2017-12 — (275 ) — (275 ) Amounts recognized into AOCI 4,333 1,464 — 5,797 Currency impact — — (484 ) (484 ) Amounts reclassified from AOCI — 341 (1) 1,606 (2) 1,947 Tax effect — (335 ) (367 ) (702 ) Other comprehensive income, net of tax 4,333 1,470 755 6,558 Balance on March 31, 2018 $ (11,850 ) $ 1,546 $ (88,585 ) $ (98,889 ) Three months ended March 31, 2017 Foreign Currency Translation Derivative Instruments Pension and Other Post-retirement Benefits Accumulated Other Balance on December 31, 2016 $ (27,828 ) $ (515 ) $ (96,854 ) $ (125,197 ) Amounts recognized into AOCI 1,408 (266 ) — 1,142 Currency impact — — (480 ) (480 ) Amounts reclassified from AOCI — 518 (1) 1,464 (2) 1,982 Tax effect — (87 ) (528 ) (615 ) Other comprehensive income, net of tax 1,408 165 456 2,029 Balance on March 31, 2017 $ (26,420 ) $ (350 ) $ (96,398 ) $ (123,168 ) ___________________________ (1) We reclassified natural gas contracts through cost of sales and the interest rate swap through interest expense on the Condensed Consolidated Statements of Operations. See note 8 for additional information. (2) We reclassified the net pension and non-pension post-retirement benefits amortization and settlement charges through other income (expense) on the Condensed Consolidated Statements of Operations. See note 6 for additional information.

Segments (Tables)

Segments (Tables)	3 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
Reconciliation from Segment Totals to Consolidated [Table Text Block]	Three months ended March 31, (dollars in thousands) 2018 2017 Net Sales: U.S. & Canada $ 107,941 $ 109,329 Latin America 34,333 30,722 EMEA 32,248 25,331 Other 7,391 7,612 Consolidated $ 181,913 $ 172,994 Segment EBIT: U.S. & Canada $ 4,724 $ 7,501 Latin America 2,150 (3,079 ) EMEA 1,005 (837 ) Other (1,129 ) (1,215 ) Total Segment EBIT $ 6,750 $ 2,370 Reconciliation of Segment EBIT to Net Loss: Segment EBIT $ 6,750 $ 2,370 Retained corporate costs (6,710 ) (7,291 ) Interest expense (5,084 ) (4,867 ) Benefit from income taxes 2,083 3,218 Net loss $ (2,961 ) $ (6,570 ) Depreciation & Amortization: U.S. & Canada $ 3,387 $ 3,082 Latin America 4,710 4,397 EMEA 2,009 1,844 Other 1,314 1,354 Corporate 459 478 Consolidated $ 11,879 $ 11,155 Capital Expenditures: U.S. & Canada $ 7,137 $ 1,937 Latin America 2,389 6,982 EMEA 1,294 2,763 Other 120 213 Corporate 331 57 Consolidated $ 11,271 $ 11,952

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Mar. 31, 2018
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following table presents our net sales disaggregated by business channel: Three months ended (dollars in thousands) March 31, 2018 Foodservice $ 76,173 Retail 55,761 Business-to-business 49,979 Consolidated $ 181,913

Fair Value (Tables)

Fair Value (Tables)	3 Months Ended
	Mar. 31, 2018
Fair Value Disclosures [Abstract]
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]	Fair Value at Fair Value at Asset / (Liability) (dollars in thousands) March 31, 2018 December 31, 2017 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Commodity futures natural gas contracts $ — $ (94 ) $ — $ (94 ) $ — $ (503 ) $ — $ (503 ) Interest rate swap — 1,829 — 1,829 — 433 — 433 Net derivative asset (liability) $ — $ 1,735 $ — $ 1,735 $ — $ (70 ) $ — $ (70 )
Fair Value Disclosures, Carrying Value and Estimated Fair Value of Debt Instruments [Table Text Block]	Financial instruments carried at cost on the Condensed Consolidated Balance Sheets, as well as the related fair values, are as follows: March 31, 2018 December 31, 2017 (dollars in thousands) Fair Value Hierarchy Level Carrying Amount Fair Value Carrying Amount Fair Value Term Loan B Level 2 $ 383,500 $ 378,227 $ 384,600 $ 370,178

Other Income (Expense) (Tables)

Other Income (Expense) (Tables)	3 Months Ended
	Mar. 31, 2018
Other Income and Expenses [Abstract]
Schedule of Other Nonoperating Income (Expense) [Table Text Block]	Items included in other income (expense) in the Condensed Consolidated Statements of Operations are as follows: Three months ended March 31, (dollars in thousands) 2018 2017 Gain (loss) on currency transactions $ (1,650 ) $ (1,544 ) Gain (loss) on mark-to-market natural gas contracts — (582 ) Pension and non-pension benefits, excluding service cost (340 ) (526 ) Other non-operating income (expense) (117 ) (134 ) Other income (expense) $ (2,107 ) $ (2,786 )

Description of the Business (De

Description of the Business (Details)	Mar. 31, 2018plantcountry
Production Operations
Description of Business [Line Items]
Number of countries in which entity operates	5
Sales Operations | Minimum
Description of Business [Line Items]
Number of countries in which entity operates	100
United States
Description of Business [Line Items]
Number of glass tableware manufacturing plants | plant	2

Significant Accounting Polici35

Significant Accounting Policies (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Jan. 01, 2018	Dec. 31, 2017
Accounting Policies [Abstract]
Stock-based compensation expense	$ 290	$ 832
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accumulated other comprehensive loss	(98,889)			$ (105,172)
Retained earnings (accumulated deficit)	$ (166,446)			$ (161,165)
Accounting Standards Update 2017-12
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accumulated other comprehensive loss			$ (300)
Retained earnings (accumulated deficit)			$ 300

Significant Accounting Polici36

Significant Accounting Policies - Reclassification (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cost of sales	$ 149,000	$ 142,473
Selling, general and administrative expenses	31,523	33,332
Other income (expense)	$ (2,107)	(2,786)
Previously Reported
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cost of sales		143,356
Selling, general and administrative expenses		32,975
Other income (expense)		(2,260)
Accounting Standards Update 2017-07 | Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cost of sales		(883)
Selling, general and administrative expenses		357
Other income (expense)		$ (526)

Balance Sheet Details (Details)

Balance Sheet Details (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Accounts receivable:
Accounts receivable	$ 85,593	$ 89,997
Allowance for doubtful accounts	9,803	9,051
Inventories:
Finished goods	185,957	170,774
Work in process	1,529	1,485
Raw materials	3,876	3,906
Repair parts	10,738	10,240
Operating supplies	1,544	1,481
Total inventories, less loss provisions of $10,691 and $10,308	203,644	187,886
Inventory loss provisions	10,691	10,308
Accrued liabilities:
Accrued incentives	18,689	19,728
Other accrued liabilities	25,166	23,495
Total accrued liabilities	43,855	43,223
Trade receivables
Accounts receivable:
Accounts receivable	84,320	88,786
Other receivables
Accounts receivable:
Accounts receivable	$ 1,273	$ 1,211

Borrowings (Debt Schedule) (Det

Borrowings (Debt Schedule) (Details) - USD ($) $ in Thousands		Mar. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Total borrowings		$ 415,454	$ 387,685
Less - unamortized discount and finance fees		3,055	3,295
Total borrowings -- net		412,399	384,390
Less -- long term debt due within one year		6,177	7,485
Total long-term portion of borrowings -- net		406,222	376,905
Subsidiaries, Libbey Glass and Libbey Europe | Asset-backed Loan Facility | Line of Credit
Debt Instrument [Line Items]
Total borrowings		30,177	0
Subsidiary, Libbey Glass | Senior Loans
Debt Instrument [Line Items]
Total borrowings	[1]	$ 383,500	384,600
Interest rate		4.72%
Subsidiary, Libbey Portugal | AICEP Loan | Loans Payable
Debt Instrument [Line Items]
Total borrowings		$ 1,777	$ 3,085
Interest rate		0.00%
[1]	We have entered into an interest rate swap that effectively fixes a series of our future interest payments on a portion of the Term Loan B debt. See interest rate swap in note 8 for additional details. The Term Loan B floating interest rate was 4.72 percent at March 31, 2018.

Borrowings (ABL Credit Agreemen

Borrowings (ABL Credit Agreement Narrative) (Details) - Subsidiaries, Libbey Glass and Libbey Europe - Asset-backed Loan Facility - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Line of Credit
Debt Instrument [Line Items]
Line of credit facility, current borrowing capacity, amount of rent reserves offset	$ 0.5
Line of credit facility, maximum borrowing capacity	100
Line of credit facility, remaining borrowing capacity	61.8	$ 91.9
Letter of Credit
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	15
Line of credit facility, amount outstanding	$ 7.5

Income Taxes (Details)

Income Taxes (Details) $ in Millions, $ in Billions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Aug. 31, 2016USD ($)	Aug. 31, 2016MXN ($)
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Effective income tax rate, continuing operations	41.30%	32.90%
Impact of foreign exchange	6.00%	12.70%
Other reconciling items	15.40%	14.10%
Timing and mix of pretax income with rates differing from US	(1.10%)	(28.90%)
Mexican Tax Authority | Tax Year 2010
Income Tax Contingency [Line Items]
Number of subsidiaries in a tax assessment			1	1
Tax assessment			$ 157	$ 3

Pension and Non-pension Post-41

Pension and Non-pension Post-retirement Benefits (Net Benefit Costs) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Defined Benefit Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 1,271	$ 1,326
Interest cost	3,928	4,087
Expected return on plan assets	(5,660)	(5,617)
Amortization of unrecognized:
Prior service cost (credit)	(51)	12
Actuarial loss / (gain)	1,796	1,490
Pension expense or non-pension post-retirement benefit expense	1,284	1,298
Defined Benefit Plan, Contributions [Abstract]
Employer contributions made to defined benefit plans	600
Estimated employer contributions to defined benefit plans in remainder of 2018	1,700
Defined Benefit Pension Plan | Domestic Plan
Defined Benefit Plan Disclosure [Line Items]
Service cost	979	1,075
Interest cost	3,165	3,450
Expected return on plan assets	(5,660)	(5,617)
Amortization of unrecognized:
Prior service cost (credit)	0	59
Actuarial loss / (gain)	1,637	1,352
Pension expense or non-pension post-retirement benefit expense	121	319
Defined Benefit Pension Plan | Foreign Plan
Defined Benefit Plan Disclosure [Line Items]
Service cost	292	251
Interest cost	763	637
Expected return on plan assets	0	0
Amortization of unrecognized:
Prior service cost (credit)	(51)	(47)
Actuarial loss / (gain)	159	138
Pension expense or non-pension post-retirement benefit expense	1,163	979
Non-Pension Postretirement Benefit Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	151	220
Interest cost	466	592
Amortization of unrecognized:
Prior service cost (credit)	(71)	(50)
Actuarial loss / (gain)	(68)	12
Pension expense or non-pension post-retirement benefit expense	478	774
Defined Benefit Plan, Contributions [Abstract]
Employer contributions made to defined benefit plans	800
Estimated employer contributions to defined benefit plans in year 2018	4,300
Non-Pension Postretirement Benefit Plans | Domestic Plan
Defined Benefit Plan Disclosure [Line Items]
Service cost	151	220
Interest cost	456	581
Amortization of unrecognized:
Prior service cost (credit)	(71)	(50)
Actuarial loss / (gain)	(52)	25
Pension expense or non-pension post-retirement benefit expense	484	776
Non-Pension Postretirement Benefit Plans | Foreign Plan
Defined Benefit Plan Disclosure [Line Items]
Service cost	0	0
Interest cost	10	11
Amortization of unrecognized:
Prior service cost (credit)	0	0
Actuarial loss / (gain)	(16)	(13)
Pension expense or non-pension post-retirement benefit expense	$ (6)	$ (2)

Net Income (Loss) per Share o42

Net Income (Loss) per Share of Common Stock (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Numerator for earnings per share:
Net loss that is available to common shareholders	$ (2,961)	$ (6,570)
Denominator for basic earnings per share:
Weighted average shares outstanding	22,086,640	21,938,735
Denominator for diluted earnings per share:
Effect of stock options and restricted stock units	0	0
Adjusted weighted average shares and assumed conversions	22,086,640	21,938,735
Basic loss per share	$ (0.13)	$ (0.30)
Diluted loss per share	$ (0.13)	$ (0.30)
Net loss position (excluded from denominator)
Shares excluded from diluted earnings (loss) per share due to:
Shares excluded from diluted loss per share due to:	79,951	153,750
Inclusion would have been anti-dilutive (excluded from calculation)
Shares excluded from diluted earnings (loss) per share due to:
Shares excluded from diluted loss per share due to:	1,006,899	615,587

Derivatives (Fair Value of Deri

Derivatives (Fair Value of Derivative Assets and Liabilities) (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Derivatives, Fair Value [Line Items]
Fair value, derivative asset	$ 1,829	$ 646
Fair value, derivative liability	94	716
Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Fair value, derivative asset	1,829	646
Fair value, derivative liability	94	440
Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Fair value, derivative liability	0	276
Interest Rate Swap | Designated as Hedging Instrument | Prepaid and other current assets
Derivatives, Fair Value [Line Items]
Fair value, derivative asset	567	0
Interest Rate Swap | Designated as Hedging Instrument | Other assets
Derivatives, Fair Value [Line Items]
Fair value, derivative asset	1,262	646
Interest Rate Swap | Designated as Hedging Instrument | Derivative liability, current
Derivatives, Fair Value [Line Items]
Fair value, derivative liability	0	213
Natural Gas Contracts | Designated as Hedging Instrument | Derivative liability, current
Derivatives, Fair Value [Line Items]
Fair value, derivative liability	87	220
Natural Gas Contracts | Designated as Hedging Instrument | Other long-term liabilities
Derivatives, Fair Value [Line Items]
Fair value, derivative liability	7	7
Natural Gas Contracts | Not Designated as Hedging Instrument | Derivative liability, current
Derivatives, Fair Value [Line Items]
Fair value, derivative liability	0	264
Natural Gas Contracts | Not Designated as Hedging Instrument | Other long-term liabilities
Derivatives, Fair Value [Line Items]
Fair value, derivative liability	$ 0	$ 12

Derivatives Derivatives (Notion

Derivatives Derivatives (Notional Amounts of Derivatives) (Details) - Cash Flow Hedging $ in Thousands	Mar. 31, 2018USD ($)MMBTU	Dec. 31, 2017USD ($)MMBTU
Natural Gas Contracts
Derivative [Line Items]
Derivative, nonmonetary notional amount | MMBTU	2,160,000	2,480,000
Senior Loans | Interest Rate Swap
Derivative [Line Items]
Derivative, notional amount | $	$ 220,000	$ 220,000

Derivatives Derivatives (Cash S

Derivatives Derivatives (Cash Settlements) (Details) - Cash Flow Hedging - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Derivative [Line Items]
Derivative, Additional Cash Settlements Received (Paid) on Hedge	$ (376)	$ (484)
Natural Gas Contracts
Derivative [Line Items]
Derivative, Additional Cash Settlements Received (Paid) on Hedge	(198)	116
Interest Rate Swap
Derivative [Line Items]
Derivative, Additional Cash Settlements Received (Paid) on Hedge	$ (178)	$ (600)

Derivatives Derivatives (Summar

Derivatives Derivatives (Summary of gains (losses) recognized in Statement of Operations and AOCI) (Details) - Cash Flow Hedging - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Designated as Hedging Instrument
Derivative [Line Items]
Effective portion of derivative gain (loss) reclassified from accumulated other comprehensive loss into income (loss)	$ (341)	$ (518)
Not Designated as Hedging Instrument
Derivative [Line Items]
Gain (loss) on contracts where hedge accounting was not elected	0	(583)
Other Comprehensive Income (Loss) | Designated as Hedging Instrument
Derivative [Line Items]
Effective portion of derivative gain (loss) recognized in other comprehensive income (loss)	1,464	(266)
Other Comprehensive Income (Loss) | Designated as Hedging Instrument | Natural Gas Contracts
Derivative [Line Items]
Effective portion of derivative gain (loss) recognized in other comprehensive income (loss)	211	(470)
Other Comprehensive Income (Loss) | Designated as Hedging Instrument | Interest Rate Swap
Derivative [Line Items]
Effective portion of derivative gain (loss) recognized in other comprehensive income (loss)	1,253	204
Cost of Sales | Designated as Hedging Instrument | Natural Gas Contracts
Derivative [Line Items]
Effective portion of derivative gain (loss) reclassified from accumulated other comprehensive loss into income (loss)	(198)	67
Interest Expense | Designated as Hedging Instrument | Interest Rate Swap
Derivative [Line Items]
Effective portion of derivative gain (loss) reclassified from accumulated other comprehensive loss into income (loss)	(143)	(585)
Other Non-Operating Income (Expense) | Not Designated as Hedging Instrument | Natural Gas Contracts
Derivative [Line Items]
Gain (loss) on contracts where hedge accounting was not elected	$ 0	$ (583)

Derivatives (Narrative - Commod

Derivatives (Narrative - Commodity Future Contracts) (Details) - Cash Flow Hedging - Natural Gas Contracts	3 Months Ended
	Mar. 31, 2018
Derivative [Line Items]
Forecast of commodity requirements, maximum length of time used	18 months
Minimum
Derivative [Line Items]
Forecast of anticipated requirements, percentage of forecast eligible for hedging	40.00%
Maximum
Derivative [Line Items]
Forecast of anticipated requirements, percentage of forecast eligible for hedging	70.00%

Derivatives (Interest Rate Swap

Derivatives (Interest Rate Swap) (Details) - Interest Rate Swap - Cash Flow Hedging - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Interest Expense
Derivative [Line Items]
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months	$ 600
Senior Loans
Derivative [Line Items]
Derivative, notional amount	$ 220,000	$ 220,000
Derivative, Fixed Interest Rate	4.85%

Accumulated Other Comprehensi49

Accumulated Other Comprehensive Income (Loss) (Schedule of AOCI) (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Change in Accumulated Other Comprehensive Loss [Roll Forward]
Beginning balance		$ (105,172)
Amounts reclassified from accumulated other comprehensive income (loss):
Ending balance		(98,889)
Foreign Currency Translation
Change in Accumulated Other Comprehensive Loss [Roll Forward]
Beginning balance		(16,183)	$ (27,828)
Cumulative-effect adjustment for the adoption of ASU 2017-12				$ 0
Amounts reclassified from accumulated other comprehensive income (loss):
Amounts recognized into AOCI		4,333	1,408
Currency impact		0	0
Amounts reclassified from AOCI, Currency		0	0
Tax effect		0	0
Other comprehensive income (loss), net of tax		4,333	1,408
Ending balance		(11,850)	(26,420)
Derivative Instruments
Change in Accumulated Other Comprehensive Loss [Roll Forward]
Beginning balance		351	(515)
Cumulative-effect adjustment for the adoption of ASU 2017-12				(275)
Amounts reclassified from accumulated other comprehensive income (loss):
Amounts recognized into AOCI		1,464	(266)
Currency impact		0	0
Amounts reclassified from AOCI, Derivatives	[1]	341	518
Tax effect		(335)	(87)
Other comprehensive income (loss), net of tax		1,470	165
Ending balance		1,546	(350)
Pension and Other Post-retirement Benefits
Change in Accumulated Other Comprehensive Loss [Roll Forward]
Beginning balance		(89,340)	(96,854)
Cumulative-effect adjustment for the adoption of ASU 2017-12				0
Amounts reclassified from accumulated other comprehensive income (loss):
Amounts recognized into AOCI		0	0
Currency impact		(484)	(480)
Amounts reclassified from AOCI, Pension/PRW	[2]	1,606	1,464
Tax effect		(367)	(528)
Other comprehensive income (loss), net of tax		755	456
Ending balance		(88,585)	(96,398)
Accumulated Other Comprehensive Loss
Change in Accumulated Other Comprehensive Loss [Roll Forward]
Beginning balance		(105,172)	(125,197)
Cumulative-effect adjustment for the adoption of ASU 2017-12				$ (275)
Amounts reclassified from accumulated other comprehensive income (loss):
Amounts recognized into AOCI		5,797	1,142
Currency impact		(484)	(480)
Amounts reclassified from AOCI		1,947	1,982
Tax effect		(702)	(615)
Other comprehensive income (loss), net of tax		6,558	2,029
Ending balance		$ (98,889)	$ (123,168)
[1]	We reclassified natural gas contracts through cost of sales and the interest rate swap through interest expense on the Condensed Consolidated Statements of Operations. See note 8 for additional information.
[2]	We reclassified the net pension and non-pension post-retirement benefits amortization and settlement charges through other income (expense) on the Condensed Consolidated Statements of Operations. See note 6 for additional information.

Segments (Details)

Segments (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2018USD ($)segment	Mar. 31, 2017USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | segment	3
Net Sales:
Net sales	$ 181,913	$ 172,994
Segment EBIT:
Segment EBIT	6,750	2,370
Reconciliation of Segment EBIT to Net Loss:
Retained corporate costs	(6,710)	(7,291)
Interest expense	(5,084)	(4,867)
Benefit from income taxes	2,083	3,218
Net loss	(2,961)	(6,570)
Depreciation & Amortization:
Depreciation and amortization	11,879	11,155
Capital Expenditures:
Capital Expenditures	11,271	11,952
United States & Canada
Net Sales:
Net sales	107,941	109,329
Segment EBIT:
Segment EBIT	4,724	7,501
Depreciation & Amortization:
Depreciation and amortization	3,387	3,082
Capital Expenditures:
Capital Expenditures	7,137	1,937
Latin America
Net Sales:
Net sales	34,333	30,722
Segment EBIT:
Segment EBIT	2,150	(3,079)
Depreciation & Amortization:
Depreciation and amortization	4,710	4,397
Capital Expenditures:
Capital Expenditures	2,389	6,982
EMEA
Net Sales:
Net sales	32,248	25,331
Segment EBIT:
Segment EBIT	1,005	(837)
Depreciation & Amortization:
Depreciation and amortization	2,009	1,844
Capital Expenditures:
Capital Expenditures	1,294	2,763
Other Segments
Net Sales:
Net sales	7,391	7,612
Segment EBIT:
Segment EBIT	(1,129)	(1,215)
Depreciation & Amortization:
Depreciation and amortization	1,314	1,354
Capital Expenditures:
Capital Expenditures	120	213
Corporate
Depreciation & Amortization:
Depreciation and amortization	459	478
Capital Expenditures:
Capital Expenditures	$ 331	$ 57

Revenue (Details)

Revenue (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2018USD ($)
Disaggregation of Revenue [Line Items]
Channel Revenue	$ 181,913
Foodservice
Disaggregation of Revenue [Line Items]
Channel Revenue	76,173
Retail
Disaggregation of Revenue [Line Items]
Channel Revenue	55,761
Business-to-business
Disaggregation of Revenue [Line Items]
Channel Revenue	$ 49,979
Maximum
Payment Terms [Line Items]
Payment Terms	90 days
Minimum
Payment Terms [Line Items]
Payment Terms	0 days
Minimum | United States & Canada | Sales Revenue, Segment [Member] | Foodservice and Retail
Disaggregation of Revenue [Line Items]
Percentage of revenue	75.00%
Minimum | Latin America | Sales Revenue, Segment [Member] | Retail and Business-to-business
Disaggregation of Revenue [Line Items]
Percentage of revenue	75.00%
Minimum | EMEA | Sales Revenue, Segment [Member] | Retail and Business-to-business
Disaggregation of Revenue [Line Items]
Percentage of revenue	75.00%

Fair Value (Details)

Fair Value (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Level 1
Fair Value of Financial Instruments
Net derivative asset (liability)	$ 0	$ 0
Level 2
Fair Value of Financial Instruments
Net derivative asset (liability)	1,735	(70)
Level 3
Fair Value of Financial Instruments
Net derivative asset (liability)	0	0
Commodity futures natural gas contracts | Level 1
Fair Value of Financial Instruments
Net derivative asset (liability)	0	0
Commodity futures natural gas contracts | Level 2
Fair Value of Financial Instruments
Net derivative asset (liability)	(94)	(503)
Commodity futures natural gas contracts | Level 3
Fair Value of Financial Instruments
Net derivative asset (liability)	0	0
Interest Rate Swap | Level 1
Fair Value of Financial Instruments
Net derivative asset (liability)	0	0
Interest Rate Swap | Level 2
Fair Value of Financial Instruments
Net derivative asset (liability)	1,829	433
Interest Rate Swap | Level 3
Fair Value of Financial Instruments
Net derivative asset (liability)	0	0
Total
Fair Value of Financial Instruments
Net derivative asset (liability)	1,735	(70)
Total | Commodity futures natural gas contracts
Fair Value of Financial Instruments
Net derivative asset (liability)	(94)	(503)
Total | Interest Rate Swap
Fair Value of Financial Instruments
Net derivative asset (liability)	$ 1,829	$ 433

Fair Value Additional (Details)

Fair Value Additional (Details) - USD ($) $ in Thousands		Mar. 31, 2018	Dec. 31, 2017
Value of Financial Instruments
Term Loan B, Carrying Value		$ 415,454	$ 387,685
Senior Loans | Subsidiary, Libbey Glass
Value of Financial Instruments
Term Loan B, Carrying Value	[1]	383,500	384,600
Level 2 | Senior Loans | Subsidiary, Libbey Glass
Value of Financial Instruments
Term Loan B, Fair Value		$ 378,227	$ 370,178
[1]	We have entered into an interest rate swap that effectively fixes a series of our future interest payments on a portion of the Term Loan B debt. See interest rate swap in note 8 for additional details. The Term Loan B floating interest rate was 4.72 percent at March 31, 2018.

Other Income (Expense) (Details

Other Income (Expense) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Component of Other Income (Expense), Nonoperating [Line Items]
Other income (expense)	$ (2,107)	$ (2,786)
Gain (loss) on currency transactions
Component of Other Income (Expense), Nonoperating [Line Items]
Other income (expense)	(1,650)	(1,544)
Gain (loss) on mark-to-market natural gas contracts
Component of Other Income (Expense), Nonoperating [Line Items]
Other income (expense)	0	(582)
Pension and non-pension benefits, excluding service cost
Component of Other Income (Expense), Nonoperating [Line Items]
Other income (expense)	(340)	(526)
Other Non-Operating Income (Expense)
Component of Other Income (Expense), Nonoperating [Line Items]
Other income (expense)	$ (117)	$ (134)