Reportable Segments

3 Months Ended

Mar. 31, 2013

Reportable Segments [Abstract]

Reportable Segments

3. Reportable Segments

The following tables show data by reportable segment, reconciled to consolidated totals included in the financial statements:

	Three months ended March 31,
(in thousands)	2013		2012
Net sales
Machine Clothing	$167,409		$164,288
Engineered Composites	19,245		15,789
Consolidated total	$186,654		$180,077
Operating income/(loss)
Machine Clothing	$42,908		$30,845
Engineered Composites	(2,063	)	29
Research expense	(6,991	)	(6,065	)
Unallocated expenses	(11,336	)	(25,718	)
Operating income/(loss) before reconciling items	22,518		(909	)
Reconciling items:
Interest income	(299	)	(84	)
Interest expense	4,324		4,728
Other expense/ (income), net	734		4,548
Income/(loss) from continuing operations before income taxes	$17,759		($10,101	)

The table below presents pension settlement and restructuring costs by reportable segment (also see Note 5):

	Three months ended March 31,
(in thousands)	2013	2012
Pension settlement
Unallocated expenses	$ -	$9,175
Restructuring expense
Machine Clothing	$193	$673
Engineered Composites	443	-
Unallocated expenses	-	(415	)
Consolidated total	$636	$258

The 2013 restructuring expense was principally related to a strategic realignment within Engineered Composites operations. The 2012 restructuring expense was principally due to curtailment of manufacturing in New York and Wisconsin.

There were no material changes in the total assets of the reportable segments during this period.