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Rationalizations (Tables)
 12 Months Ended
Dec. 31, 2014
Restructuring and Related Activities [Abstract]  
Schedule of Restructuring and Related Costs
Charges incurred related to the 2014 Engineered Solutions rationalization initiatives in 2014 are as follows:
 
For the Year Ended December 31, 2014
 
 
Accelerated depreciation (recorded in Cost of sales)
$
2,802

Inventory losses (recorded in Cost of sales)
13,225

Fixed asset write-offs and other (recorded in Cost of sales)
1,046

Severance and related charges (recorded in Rationalizations)
2,498

Contract terminations and other (recorded in Rationalizations)
195

Impairments (recorded in Impairments)
121,570

   Total Engineered Solutions rationalization
        and related charges
$
141,336

 
 
Throughout 2013 and 2014 the Company undertook rationalization plans in order to streamline our organization and lower our production costs. The following tables summarize the total rationalization and related charges incurred during 2013 and 2014 followed by the details of each plan.
 
For the Year Ended December 31, 2013
 
 
Industrial Materials Segment
 
Engineered Solutions Segment
 
Corporate, R&D and Other
 
Total
 
 
(Dollars in thousands)
 
Accelerated depreciation
    (recorded in Cost of sales)
$
28,326

 
$
—

 
$
—

 
$
28,326

 
Inventory loss (recorded in Cost
    of sales)
7,886

 
896

 
—

 
8,782

 
Fixed asset write-offs and other(recorded in Cost of sales)
6,104

 
2,274

 
—

 
8,378

 
Other (recorded in Selling
    and administrative)
59

 
—

 
—

 
59

 
Severance and related costs
    (recorded in Rationalizations)
17,072

 
458

 
1,816

 
19,346

 
Contract terminations
(recorded in Rationalizations)
810

 
—

 
—

 
810

 
   Total 2013 rationalization
    and related charges
$
60,257

 
$
3,628

 
$
1,816

 
$
65,701

 
 
For the Year Ended December 31, 2014
 
Industrial Materials Segment
 
Engineered Solutions Segment
 
Corporate, R&D and Other
 
Total
 
(Dollars in thousands)
Accelerated depreciation
    (recorded in Cost of sales)
$
22,388

 
$
3,649

 
$
—

 
$
26,037

Inventory loss (recorded in Cost
    of sales)
961

 
13,711

 
—

 
14,672

Fixed asset write-offs and other(recorded in Cost of sales)
5,552

 
1,278

 
—

 
6,830

Accelerated depreciation
(recorded in Research
       and development)
—

 
—

 
2,312

 
2,312

Accelerated depreciation
(recorded in Selling
       and administrative)
—

 
—

 
608

 
608

Other (recorded in Selling
    and administrative)
89

 
121

 
515

 
725

Severance and related costs
    (recorded in Rationalizations)
5,040

 
3,113

 
2,845

 
10,998

Contract terminations
(recorded in Rationalizations)
469

 
146

 
11

 
626

Impairment of long-lived assets
 
 
121,570

 
—

 
121,570

   Total 2014 rationalization
    and related charges
$
34,499

 
$
143,588

 
$
6,291

 
$
184,378

Charges incurred related to the 2014 Corporate and Research & Development rationalization initiatives for 2014 are as follows:
 
For the Year Ended December 31, 2014
 
(dollars in thousands)
 
 
Accelerated depreciation (recorded in Cost of sales)
$
20

Fixed asset write offs (recorded in Cost of sales)
178

Accelerated depreciation (recorded in R&D)
2,312

Accelerated depreciation (recorded in Selling and administrative)
608

Other charges (recorded in Selling and administrative)
515

Severance and related costs (recorded in Rationalizations)
8,096

Contract terminations (recorded in Rationalizations)
84

   Total 2014 corporate rationalization
        and related charges
$
11,813

 
 
Charges incurred related to the 2013 rationalization initiatives for the twelve months ended December 31, 2013 and December 31, 2014 are as follows:
 
For the Year Ended December 31, 2013
 
Industrial Materials Segment
 
Engineered Solutions Segment
 
Corporate, R&D and Other
 
Total
 
(Dollars in thousands)
Accelerated depreciation
    (recorded in Cost of sales)
$
28,326

 
$
—

 
$
—

 
$
28,326

Inventory loss (recorded in Cost
    of sales)
7,886

 
896

 
—

 
8,782

Fixed asset write-offs and other(recorded in Cost of sales)
6,104

 
2,274

 
—

 
8,378

Other (recorded in Selling
    and administrative)
59

 
—

 
—

 
59

Severance and related costs
    (recorded in Rationalizations)
17,072

 
458

 
1,816

 
19,346

Contract terminations
(recorded in Rationalizations)
810

 
—

 
—

 
810

   Total 2013 rationalization plan
    and related charges
$
60,257

 
$
3,628

 
$
1,816

 
$
65,701

 
For the Year Ended December 31, 2014
 
Industrial Materials Segment
 
Engineered Solutions Segment
 
Corporate, R&D and Other
 
Total
 
(Dollars in thousands)
Accelerated depreciation
    (recorded in Cost of sales)
$
22,388

 
$
827

 
$
—

 
$
23,215

Inventory loss (recorded in Cost
    of sales)
961

 
485

 
—

 
1,446

Fixed asset write-offs and other(recorded in Cost of sales)
5,374

 
233

 
—

 
5,607

Other (recorded in Selling
    and administrative)
89

 
—

 
—

 
89

Severance and related costs
    (recorded in Rationalizations)
433

 
(28
)
 
—

 
405

Contract terminations
(recorded in Rationalizations)
469

 
—

 
—

 
469

   Total 2014 rationalization plan
    and related charges
$
29,714

 
$
1,517

 
$
—

 
$
31,231
Schedule of Restructuring Reserve by Type of Cost
The following table represents the roll-forward of the liability incurred for employee termination benefits and contract termination costs incurred in connection with the the rationalization initiatives described above. This liability is recorded as a current liability on the Consolidated Balance Sheet.
 
(Dollars in thousands)
Balance as of December 31, 2012
$
—

       Charges incurred
16,159

       Change in estimates
3,997

       Payments and settlements
(1,506
)
       Effect of change in currency exchange rates
(229
)
Balance as of December 31, 2013
18,421

Charges incurred
613

Change in estimates
153

Payments and settlements
(16,494
)
Effect of change in currency exchange rates
(1,658
)
Balance as of December 31, 2014
$
1,035

The following table represents the roll-forward of the liability incurred for employee termination benefits and contract termination costs incurred in connection with the 2014 Corporate and Research & Development rationalization initiatives described above. This liability is recorded as a current liability on the Consolidated Balance Sheet.
 
(Dollars in thousands)
Balance as of December 31, 2013
$
—

Charges incurred
8,159

Change in estimates
21

Payments and settlements
(1,155
)
Effect of change in currency exchange rates
(152
)
Balance as of December 31, 2014
$
6,873

The following table represents the roll-forward of the liability incurred for employee termination benefits and contract termination costs incurred in connection with the 2014 Engineered Solutions rationalization initiatives described above. This liability is recorded as a current liability on the Consolidated Balance Sheet.
 
(Dollars in thousands)
Balance as of December 31, 2013
$
—

Charges incurred
2,611

Change in estimates
(40
)
Payments and settlements
(916
)
Effect of change in currency exchange rates
—

Balance as of December 31, 2014
$
1,655