Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Jan. 31, 2020 | Jun. 30, 2019 | |
Cover page. | |||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Transition Report | false | ||
Entity File Number | 001-03970 | ||
Entity Registrant Name | HARSCO CORP | ||
Entity Incorporation, State or Country Code | DE | ||
Entity Tax Identification Number | 23-1483991 | ||
Entity Address, Address Line One | 350 Poplar Church Road, | ||
Entity Address, City or Town | Camp Hill, | ||
Entity Address, State or Province | PA | ||
Entity Address, Postal Zip Code | 17011 | ||
City Area Code | 717 | ||
Local Phone Number | 763-7064 | ||
Title of 12(b) Security | Common stock, par value $1.25 per share | ||
Trading Symbol | HSC | ||
Security Exchange Name | NYSE | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Small Business | false | ||
Entity Emerging Growth Company | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 2,202,849,000 | ||
Entity Common Stock, Shares Outstanding | 78,514,758 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Central Index Key | 0000045876 | ||
Document Period End Date | Dec. 31, 2019 | ||
Document Fiscal Year Focus | 2019 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Current assets: | ||
Cash and cash equivalents | $ 57,259 | $ 64,260 |
Restricted cash | 2,473 | 2,886 |
Trade accounts receivable, net | 309,990 | 246,427 |
Insurance claim receivable | 0 | 30,000 |
Other receivables | 21,265 | 23,770 |
Inventories | 156,991 | 116,185 |
Current portion of contract assets | 31,166 | 12,130 |
Current portion of assets held-for-sale | 22,093 | 75,232 |
Other current assets | 51,575 | 34,144 |
Total current assets | 652,812 | 605,034 |
Property, plant and equipment, net | 561,786 | 432,793 |
Right-of-use assets, net | 52,065 | 0 |
Goodwill | 738,369 | 404,713 |
Intangible assets, net | 299,082 | 69,207 |
Deferred income tax assets | 14,288 | 48,551 |
Assets held-for-sale | 32,029 | 55,331 |
Other assets | 17,036 | 17,238 |
Total assets | 2,367,467 | 1,632,867 |
Current liabilities: | ||
Short-term borrowings | 3,647 | 10,078 |
Current maturities of long-term debt | 2,666 | 6,489 |
Accounts payable | 176,755 | 124,984 |
Accrued compensation | 37,992 | 50,201 |
Income taxes payable | 18,692 | 2,634 |
Insurance liabilities | 10,140 | 40,774 |
Current portion of advances on contracts | 53,906 | 29,407 |
Operating Lease, Liability, Current | 12,544 | 0 |
Other current liabilities | 137,208 | 113,019 |
Total current liabilities | 464,894 | 416,996 |
Long-term debt | 775,498 | 585,662 |
Insurance liabilities | 18,515 | 19,575 |
Retirement plan liabilities | 189,954 | 213,578 |
Advances on contracts | 6,408 | 37,675 |
Operating Lease, Liability, Noncurrent | 36,974 | 0 |
Liabilities of assets held-for-sale | 12,152 | 555 |
Other liabilities | 73,413 | 45,450 |
Total liabilities | 1,577,808 | 1,319,491 |
COMMITMENTS AND CONTINGENCIES | ||
HARSCO CORPORATION STOCKHOLDERS' EQUITY | ||
Preferred Stock, Value, Issued | 0 | 0 |
Common stock, par value $1.25 (issued 114,720,347 and 113,473,951 shares at December 31, 2019 and 2018, respectively) | 143,400 | 141,842 |
Additional paid-in capital | 200,595 | 190,597 |
Accumulated other comprehensive loss | (587,622) | (567,107) |
Retained earnings | 1,824,100 | 1,298,752 |
Treasury stock, at cost (36,205,589 and 33,928,928 shares at December 31, 2019 and 2018, respectively) | (838,893) | (795,821) |
Total Harsco Corporation stockholders' equity | 741,580 | 268,263 |
Noncontrolling interests | 48,079 | 45,113 |
Total equity | 789,659 | 313,376 |
Total liabilities and equity | $ 2,367,467 | $ 1,632,867 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares | Dec. 31, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Statement of Financial Position [Abstract] | |||||
Common stock, par value (usd per share) | $ 1.25 | $ 1.25 | $ 1.25 | ||
Common stock, shares issued | 114,720,347 | 113,473,951 | 112,888,126 | 112,499,874 | |
Treasury stock, shares | 36,205,589 | 33,928,928 | 32,434,274 | 32,324,911 |
CONSOLIDATED STATEMENTS OF OPER
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands | 12 Months Ended | ||||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |||
Revenues from continuing operations: | |||||
Product revenues | $ 1,503,742,000 | $ 1,347,672,000 | $ 1,307,470,000 | ||
Costs and expenses from continuing operations: | |||||
Selling, general and administrative costs | 252,970,000 | 202,713,000 | 194,906,000 | ||
Research and development expenses | 4,824,000 | 3,925,000 | 2,736,000 | ||
Other expenses | (2,621,000) | (2,201,000) | 7,327,000 | ||
Total costs and expenses | 1,399,463,000 | 1,216,977,000 | 1,202,815,000 | ||
Operating income from continuing operations | 104,279,000 | 130,695,000 | 104,655,000 | ||
Interest income | 1,975,000 | 2,155,000 | 2,469,000 | ||
Interest expense | (36,586,000) | (21,531,000) | (26,862,000) | ||
Defined benefit pension income (expense) | (5,493,000) | 3,457,000 | (2,595,000) | ||
Loss on early extinguishment of debt | (7,704,000) | (1,127,000) | (2,265,000) | ||
Income from continuing operations before income taxes and equity income | 56,471,000 | 113,649,000 | 75,402,000 | ||
Income tax expense | (20,214,000) | (5,499,000) | (78,190,000) | ||
Equity in income of unconsolidated entities, net | 273,000 | 384,000 | 0 | ||
Income (loss) from continuing operations | 36,530,000 | 108,534,000 | (2,788,000) | ||
Discontinued operations: | |||||
Income from discontinued businesses | 569,135,000 | 0 | 0 | ||
Discontinued Operation, Income (Loss) from Discontinued Operation, before Income Tax | 27,531,000 | 43,942,000 | 20,379,000 | ||
Income tax expense from discontinued businesses | (120,978,000) | (7,463,000) | (5,747,000) | ||
Income from discontinued operations, net of tax | 475,688,000 | 36,479,000 | 14,632,000 | ||
Net income | 512,218,000 | 145,013,000 | 11,844,000 | ||
Less: Net income attributable to noncontrolling interests | (8,299,000) | (7,956,000) | (4,022,000) | ||
Net income attributable to Harsco Corporation | 503,919,000 | 137,057,000 | 7,822,000 | ||
Amounts attributable to Harsco Corporation common stockholders: | |||||
Income (loss) from continuing operations, net of tax | 28,231,000 | 100,578,000 | (6,810,000) | ||
Income from discontinued operations, net of tax | 475,688,000 | 36,479,000 | 14,632,000 | ||
Net income attributable to Harsco Corporation common stockholders | $ 503,919,000 | $ 137,057,000 | $ 7,822,000 | ||
Weighted average shares of common stock outstanding | 79,632 | 80,716 | 80,553 | ||
Basic earnings (loss) per share attributable to Harsco Corporation common stockholders: | |||||
Continuing operations (in dollars per share) | $ 0.35 | $ 1.25 | $ (0.08) | ||
Discontinued operations (in dollars per share) | 5.97 | 0.45 | 0.18 | ||
Basic earnings (loss) per share attributable to Harsco Corporation common stockholders (in dollars per share) | $ 6.33 | $ 1.70 | [1] | $ 0.10 | [1] |
Diluted weighted average shares of stock outstanding | 81,375 | 83,595 | 80,553 | ||
Diluted earnings (loss) per share attributable to Harsco Corporation common stockholders: | |||||
Continuing operations (in dollars per share) | $ 0.35 | $ 1.20 | $ (0.08) | ||
Discontinued operations (in dollars per share) | 5.85 | 0.44 | 0.18 | ||
Diluted earnings (loss) per share attributable to Harsco Corporation common stockholders (in dollars per share) | $ 6.19 | $ 1.64 | $ 0.10 | [1] | |
Services | |||||
Revenues from continuing operations: | |||||
Product revenues | $ 1,081,473,000 | $ 955,464,000 | $ 934,282,000 | ||
Product | |||||
Revenues from continuing operations: | |||||
Product revenues | 422,269,000 | 392,208,000 | 373,188,000 | ||
Costs and expenses from continuing operations: | |||||
Cost of services and products sold | $ 305,134,000 | $ 266,792,000 | $ 260,347,000 | ||
[1] | Does not total due to rounding. |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Statement of Comprehensive Income [Abstract] | |||
Net income | $ 512,218 | $ 145,013 | $ 11,844 |
Other comprehensive income (loss): | |||
Foreign currency translation adjustments, net of deferred income taxes of $2,507, $(2,167) and $3,471 in 2019, 2018 and 2017, respectively | 15,498 | (50,743) | 36,011 |
Net gain (loss) on cash flow hedging instruments, net of deferred income taxes of $1,438, $(1,130) and $(759) in 2019, 2018 and 2017, respectively | (5,106) | 2,101 | 1,897 |
Pension liability adjustments, net of deferred income taxes of $(3,244), $854 and $(4,084) in 2019, 2018 and 2017, respectively | (10,478) | 27,185 | 25,254 |
Unrealized gain (loss) on marketable securities, net of deferred income taxes of $(11), $16 and $(12) in 2019, 2018 and 2017, respectively | 28 | (48) | 22 |
Total other comprehensive income (loss) | (58) | (21,505) | 63,184 |
Total comprehensive income | 512,160 | 123,508 | 75,028 |
Less: Comprehensive income attributable to noncontrolling interests | (7,327) | (5,454) | (7,068) |
Comprehensive income attributable to Harsco Corporation | $ 504,833 | $ 118,054 | $ 67,960 |
CONSOLIDATED STATEMENTS OF CO_2
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Parenthetical) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Statement of Comprehensive Income [Abstract] | |||
Foreign currency translation adjustments, deferred income taxes | $ 2,507 | $ (2,167) | $ 3,471 |
Net gains (losses) on cash flow hedging instruments, deferred income taxes | 1,438 | (1,130) | (759) |
Pension liability adjustments, deferred income taxes | (3,244) | 854 | (4,084) |
Unrealized gain (loss) on marketable securities, deferred income taxes | $ (11) | $ 16 | $ (12) |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Cash flows from operating activities: | |||
Net income | $ 512,218,000 | $ 145,013,000 | $ 11,844,000 |
Adjustments to reconcile net income to net cash provided (used) by operating activities: | |||
Depreciation | 119,803,000 | 122,135,000 | 121,839,000 |
Amortization | 18,592,000 | 10,650,000 | 8,098,000 |
Gain (loss) on Extinguishment of debt, Cash Flow | 5,314,000 | ||
Loss on early extinguishment of debt | 7,704,000 | 1,127,000 | 2,265,000 |
Deferred income tax expense (benefit) | 6,815,000 | (6,522,000) | 57,349,000 |
Equity in income of unconsolidated entities, net | (273,000) | (384,000) | 0 |
Dividends from unconsolidated entities | 125,000 | 88,000 | 93,000 |
Gain on Sale from discontinued business | (569,135,000) | ||
Other, net | 1,764,000 | 2,666,000 | 749,000 |
Changes in assets and liabilities: | |||
Accounts receivable | (3,464,000) | (16,881,000) | (32,012,000) |
Increase (Decrease) in Insurance Settlements Receivable | 195,000,000 | 0 | 0 |
Inventories | (42,484,000) | (14,706,000) | 19,557,000 |
Contract assets | (21,795,000) | (3,312,000) | 0 |
Increase (Decrease) In Right-Of_Use Assets | 15,164,000 | 0 | 0 |
Accounts payable | 13,407,000 | 18,347,000 | 12,554,000 |
Accrued interest payable | 14,723,000 | (154,000) | 438,000 |
Accrued compensation | (15,759,000) | (1,127,000) | 11,126,000 |
Advances on contracts and other customer advances | (4,172,000) | 3,057,000 | (16,811,000) |
Increase (Decrease) in Operating Liabilities | (14,740,000) | 0 | 0 |
Insurance liability | (195,000,000) | 0 | 0 |
Income taxes payable - gain on sale of discontinued businesses | 12,373,000 | 0 | 0 |
Retirement plan liabilities, net | (24,022,000) | (33,321,000) | (21,300,000) |
Other assets and liabilities | (24,617,000) | (33,527,000) | 3,368,000 |
Net cash provided (used) by operating activities | (163,000) | 192,022,000 | 176,892,000 |
Cash flows from investing activities: | |||
Purchases of property, plant and equipment | (184,973,000) | (132,168,000) | (98,314,000) |
Proceeds from sales of assets | 17,022,000 | 11,887,000 | 13,418,000 |
Expenditures for intangible assets | (1,311,000) | 0 | 0 |
Proceeds from Divestiture of Businesses | 658,414,000 | 0 | 0 |
Net cash used to acquire businesses | (623,495,000) | (56,389,000) | 0 |
Payments to Acquire Equity Method Investments | (2,364,000) | 0 | 0 |
Payments for Hedge, Investing Activities | (2,758,000) | 0 | 0 |
Net proceeds (payments) from settlement of foreign currency forward exchange contracts | 7,273,000 | 15,527,000 | (18,429,000) |
Net cash used by investing activities | (132,192,000) | (161,143,000) | (103,325,000) |
Cash flows from financing activities: | |||
Short-term borrowings, net | (5,398,000) | 1,932,000 | 5,061,000 |
Current maturities and long-term debt: | |||
Additions | 848,314,000 | 128,858,000 | 27,985,000 |
Reductions | (661,620,000) | (116,988,000) | (108,280,000) |
Dividends paid to noncontrolling interests | (4,712,000) | (5,480,000) | (2,445,000) |
Noncontrolling Interest - purchase or sale | 4,026,000 | 477,000 | (3,412,000) |
Stock-based compensation - Employee taxes paid | (11,234,000) | (3,730,000) | (1,688,000) |
Common stock acquired for treasury | (31,838,000) | (30,011,000) | 0 |
Deferred financing costs | (11,272,000) | (596,000) | (42,000) |
Other financing activities, net | (532,000) | 0 | (894,000) |
Net cash provided (used) by financing activities | 125,734,000 | (25,538,000) | (83,715,000) |
Effect of exchange rate changes on cash, including restricted cash | (793,000) | (4,404,000) | 4,478,000 |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | (7,414,000) | 937,000 | (5,670,000) |
Cash and cash equivalents, including restricted cash, at beginning of period | 67,146,000 | 66,209,000 | 71,879,000 |
Cash and cash equivalents, including restricted cash, at end of period | 59,732,000 | 67,146,000 | 66,209,000 |
Change in accrual for purchases of property, plant and equipment included in accounts payable | 5,164,000 | 7,567,000 | (666,000) |
Purchase of businesses, net of cash acquired | |||
Working Capital Acquired | (26,663,000) | 1,295,000 | |
Working capital | 0 | ||
Property, plant and equipment | (77,295,000) | (3,327,000) | 0 |
Goodwill | (330,230,000) | (22,518,000) | 0 |
Long-term debt acquired | 605,000 | 335,000 | |
Other noncurrent assets and liabilities, net | (189,912,000) | (32,174,000) | 0 |
Net cash used to acquire businesses | $ (623,495,000) | (56,389,000) | 0 |
Restructuring Costs, Program Two | $ 0 | $ 0 |
CONSOLIDATED STATEMENTS OF CHAN
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Thousands | Total | Common Stock Issued | Treasury Stock | Additional Paid-in Capital | Retained Earnings | Accumulated Other Comprehensive Income (Loss) | Noncontrolling Interests |
Balances at Dec. 31, 2016 | $ 137,563 | $ 140,625 | $ (760,391) | $ 172,101 | $ 1,150,688 | $ (606,722) | $ 41,262 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income | 11,844 | 7,822 | 4,022 | ||||
Cash dividends declared: | |||||||
Noncontrolling interests | (2,445) | (2,445) | |||||
Total other comprehensive income (loss), net of deferred income taxes of $(1,384) $(2,427) and $690 in 2017, 2018, and 2019 respectively | 63,184 | 60,140 | 3,044 | ||||
Purchase of subsidiary shares from noncontrolling interest | (3,436) | (2,242) | (1,194) | ||||
Sale of investment in consolidated subsidiary | 25 | 25 | |||||
Stock appreciation rights exercised, net 8,965 shares, net 28,109 and net 11,246 shares in 2017 and 2018 and 2019, respectively | (63) | 16 | (63) | (16) | |||
Vesting of restricted stock units and other stock grants, net 269,924 shares, 384,134 shares and 196,102 shares in 2016, 2017 and 2018, respectively | (1,625) | 469 | (1,625) | (469) | |||
Amortization of unearned stock-based compensation, net of forfeitures | 9,721 | 9,721 | |||||
Balances at Dec. 31, 2017 | 215,165 | 141,110 | (762,079) | 180,201 | 1,157,801 | (546,582) | 44,714 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income | 145,013 | 137,057 | 7,956 | ||||
Cash dividends declared: | |||||||
Noncontrolling interests | (5,534) | (5,534) | |||||
Total other comprehensive income (loss), net of deferred income taxes of $(1,384) $(2,427) and $690 in 2017, 2018, and 2019 respectively | (21,505) | (19,005) | (2,500) | ||||
Purchase of subsidiary shares from noncontrolling interest | 477 | 477 | |||||
Stock appreciation rights exercised, net 8,965 shares, net 28,109 and net 11,246 shares in 2017 and 2018 and 2019, respectively | (282) | 50 | (282) | (50) | |||
Vesting of restricted stock units and other stock grants, net 269,924 shares, 384,134 shares and 196,102 shares in 2016, 2017 and 2018, respectively | (3,449) | 682 | (3,449) | (682) | |||
Treasury shares repurchased, 1,321,072 shares and 1,766,826 shares in 2018 and 2019 respectively | (30,011) | (30,011) | |||||
Amortization of unearned stock-based compensation, net of forfeitures | 11,128 | 11,128 | |||||
Balances at Dec. 31, 2018 | 313,376 | 141,842 | (795,821) | 190,597 | 1,298,752 | (567,107) | 45,113 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income | 512,218 | 503,919 | 8,299 | ||||
Cash dividends declared: | |||||||
Noncontrolling interests | (4,693) | (4,693) | |||||
Total other comprehensive income (loss), net of deferred income taxes of $(1,384) $(2,427) and $690 in 2017, 2018, and 2019 respectively | (58) | 914 | (972) | ||||
Purchase of subsidiary shares from noncontrolling interest | 4,026 | 4,026 | |||||
Noncontrolling Interest, Decrease from Deconsolidation | (3,694) | (3,694) | |||||
Stock appreciation rights exercised, net 8,965 shares, net 28,109 and net 11,246 shares in 2017 and 2018 and 2019, respectively | (117) | 20 | (117) | (20) | |||
Vesting of restricted stock units and other stock grants, net 269,924 shares, 384,134 shares and 196,102 shares in 2016, 2017 and 2018, respectively | (2,882) | 402 | (2,882) | (402) | |||
Vesting of performance share units, net 529,213 shares in 2019 | (8,248) | 1,136 | (8,235) | (1,149) | |||
Treasury shares repurchased, 1,321,072 shares and 1,766,826 shares in 2018 and 2019 respectively | (31,838) | (31,838) | |||||
Amortization of unearned stock-based compensation, net of forfeitures | 11,569 | 11,569 | |||||
Balances at Dec. 31, 2019 | $ 789,659 | $ 143,400 | $ (838,893) | $ 200,595 | $ 1,824,100 | $ (587,622) | $ 48,079 |
CONSOLIDATED STATEMENTS OF CH_2
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Parenthetical) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Cash dividends declared, Common, per share (in dollars per share) | $ 0 | $ 0 | $ 0 |
Other Comprehensive Income (Loss), Tax | $ 690 | $ (2,427) | $ (1,384) |
Vesting of restricted stock units, shares | 196,102 | 384,134 | 269,924 |
Treasury shares repurchased, shares | 0 | 0 | |
Vesting of Performance Shares | 529,213 | 0 | 0 |
SARS exercised, shares | 11,246 | 28,109 | 8,965 |
Treasury Stock | |||
Treasury shares repurchased, shares | 1,766,826 | 1,321,072 | 0 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2019 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Summary of Significant Accounting Policies Consolidation The consolidated financial statements include all accounts of Harsco Corporation (the "Company"), all entities in which the Company has a controlling voting interest and variable interest entities required to be consolidated in accordance with generally accepted accounting principles in the U.S. ("U.S. GAAP"). Intercompany accounts and transactions have been eliminated among consolidated entities. The Company's management has evaluated all activity of the Company and concluded that subsequent events are properly reflected in the Company's consolidated financial statements and notes as required by U.S. GAAP. Reclassifications Certain reclassifications have been made to prior year amounts to conform with current year classifications. Cash and Cash Equivalents Cash and cash equivalents include cash on hand, demand deposits and short-term investments that are highly liquid in nature and have an original maturity of three months or less. Restricted Cash The Company had restricted cash of $2.5 million and $2.9 million at December 31, 2019 and December 31, 2018 , respectively, and the restrictions are primarily related to collateral provided for certain guarantees of the Company’s performance. Inventories Inventories in the U.S. are principally accounted for using the last-in, first-out ("LIFO") method and are stated at the lower of cost or market. The Company's remaining inventories are accounted for using the first-in, first-out ("FIFO") or average cost methods and are stated at the lower of cost or net realizable value. See Note 4, Accounts Receivable and Inventories, for additional information. Depreciation Property, plant and equipment is recorded at cost and depreciated over the estimated useful lives of the assets using, principally, the straight-line method. When property, plant and equipment is retired from service, the cost of the retirement is charged to the allowance for depreciation to the extent of the accumulated depreciation and the balance is charged to income. Long-lived assets to be disposed of by sale are not depreciated while they are classified as held-for-sale. Leases The Company leases certain property and equipment under noncancelable lease agreements. The Company determines if a contract or arrangement contains a lease at inception. All leases are evaluated and classified as either an operating or finance lease. A lease is classified as a finance lease if any of the following criteria are met: (i) ownership of the underlying asset transfers to the Company by the end of the lease term; (ii) the lease contains an option to purchase the underlying asset that the Company is reasonably expected to exercise; (iii) the lease term is for a major part of the remaining economic life of the underlying asset; (iv) the present value of the sum of lease payments and any residual value guaranteed by the Company equals or exceeds substantially all of the fair value of the underlying asset; or (v) the underlying asset is of a specialized nature that it is expected to have no alternative use to the lessor at the end of the lease term. A lease that does not meet any of the criteria to be classified as a finance lease is classified as an operating lease. Operating leases are included as Right-of-use assets, net, Current portion of operating lease liabilities, and Operating lease liabilities on the Company's Condensed Consolidated Balance Sheets. Right-of-use ("ROU") assets and operating lease liabilities are recognized based on the present value of the future lease payments over the lease term at the commencement date. As most of the Company’s leases do not provide an implicit rate for use in determining the present value of future payments, the Company uses an incremental borrowing rate. This incremental borrowing rate reflects the creditworthiness of the Company for a lending period commensurate to the term of the lease and the standard lending practices related to such loans in the respective jurisdiction where the underlying assets are located. ROU assets also include any lease payments made and exclude any lease incentives and initial direct costs incurred. Lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term, including rent abatement periods and rent holidays. Certain of the Company's leases are subject to annual changes in an index or are subject to adjustments for which the amounts are not readily determinable at lease inception. While lease liabilities are not remeasured as a result of changes to these costs, changes are treated as variable lease payments and recognized in the period in which the obligation for those payments was incurred. Finance leases are included as Property, plant and equipment, net; Current maturities of long-term debt and Long-term debt on the Company's Condensed Consolidated Balance Sheets. Finance lease costs are split between depreciation expense related to the asset and interest expense on the lease liability, using the effective rate charged by the lessor. The Company has lease agreements with both lease and non-lease components, which the Company has elected to account for as a single lease component. Additionally, the Company has elected not to record short-term leases, those with expected terms of twelve months or less, on the Company's Condensed Consolidated Balance Sheets. Certain lease agreements include fixed escalations, while others include rental payments adjusted periodically for inflation. See Note 2, Recently Adopted and Recently Issued Accounting Standards; Note 7, Debt and Credit Agreements; and Note 8, Leases, for additional information on leases. Business Combinations and Goodwill The Company accounts for business combinations using the acquisition method of accounting, which requires that once control is obtained, all assets acquired and liabilities assumed, including amounts attributable to noncontrolling interests, be recorded at their respective fair values at the date of acquisition. The excess of purchase price over the fair values of identifiable assets and liabilities is recorded as goodwill. The determination of fair value of assets acquired and liabilities assumed requires numerous estimates and assumptions with respect to the timing and amounts of cash flow projections, revenue growth rates, customer attrition rates, discount rates and useful lives. Such estimates are based upon assumptions believed to be reasonable, and when appropriate, include assistance from independent third-party valuation firms. During the measurement period, which is up to one year from the acquisition date, the Company may record adjustments to the assets acquired and liabilities assumed, with corresponding offsets to goodwill. In accordance with U.S. GAAP, goodwill is not amortized and is tested for impairment at least annually or more frequently if indicators of impairment exist or if a decision is made to dispose of a business. Goodwill is allocated among and evaluated for impairment at the reporting unit level, which is defined as an operating segment or one level below an operating segment for which discrete financial information is available. A significant amount of judgment is involved in determining if an indicator of impairment has occurred. Such indicators may include declining cash flows or operating losses at the reporting unit level, a significant adverse change in legal factors or in the business climate, an adverse action or assessment by a regulator, unanticipated competition, a loss of key personnel or a more likely than not expectation that a reporting unit or a significant portion of a reporting unit will be sold or otherwise disposed of, among others. In applying the goodwill impairment test, the Company has the option to perform a qualitative test (“Step 0”) or a quantitative test (“Step 1”). Under Step 0, the Company assesses qualitative factors to determine whether it is more likely than not that the fair value of the reporting units is less than its carrying value. Qualitative factors may include, but are not limited to, economic conditions, industry and market considerations, cost factors, overall financial performance of the reporting unit, and other entity and reporting unit specific events. If after assessing these qualitative factors, the Company determines it is “more-likely-than-not” that the fair value of the reporting unit is less than the carrying value, the Company would perform Step 1. The Step 1 approach of testing for goodwill impairment involves comparing the current fair value of each reporting unit to the net book value, including goodwill. The Company uses a discounted cash flow model (“DCF model”) to estimate the current fair value of reporting units, as management believes forecasted operating cash flows are the best indicator of current fair value. A number of significant assumptions and estimates are involved in the preparation of DCF models including future revenues and operating margin growth, the weighted-average cost of capital (“WACC”), tax rates, capital spending, pension funding, the impact of business initiatives and working capital projections. These assumptions and estimates may vary significantly among reporting units. DCF models are based on approved long-range plans for the early years and historical relationships and projections for later years. WACC rates are derived from internal and external factors including, but not limited to, the average market price of the Company's stock, shares outstanding, book value of the Company's debt, the long-term risk-free interest rate, and both market and size-specific risk premiums. Due to the many variables noted above and the relative size of the Company's goodwill, differences in assumptions may have a material impact on the results of the Company's annual goodwill impairment testing. If the net book value of a reporting unit were to exceed the current fair value, the second step of the goodwill impairment test (“Step 2”) would currently be required to determine if an impairment existed and the amount of goodwill impairment to record, if any. Step 2 compares the net book value of a reporting unit's goodwill with the implied fair value of that goodwill. The implied fair value of goodwill represents the excess of fair value of the reporting unit over the fair value amounts assigned to all of the assets and liabilities of the reporting unit if it were to be acquired in a hypothetical business combination and the current fair value of the reporting unit represented the purchase price. As necessary, the Company may use independent third-party valuation firms to assist with the Step 2 assessment. See Note 6, Goodwill and Other Intangible Assets, for additional information. Long-Lived Assets Impairments (Other than Goodwill) Long-lived assets (or asset groups) are reviewed for impairment when events and circumstances indicate that the carrying amount of an asset (or asset group) may not be recoverable. Long-lived assets (or asset groups) are reviewed for impairment when events and circumstances indicate the book value of an asset (or asset group) may be impaired. The Company's policy is to determine if an impairment loss exists when it is determined that the carrying amount of the asset (or asset group) exceeds the sum of the expected undiscounted future cash flows resulting from use of the asset (or asset group) and its eventual disposition. Impairment losses are measured as the amount by which the carrying amount of the asset (or asset group) exceeds its fair value, normally as determined in either open market transactions or through the use of a DCF model. Long-lived assets (or asset groups) to be disposed of are reported at the lower of the carrying amount or fair value less cost to sell. See Note 17, Other (Income) Expenses, Net for additional information. Deferred Financing Costs The Company has incurred debt issuance costs which are recognized as a reduction of Long-term debt on the Consolidated Balance Sheets. Debt issuance costs are amortized and recognized as interest expense over the contractual term of the related indebtedness or shorter period if appropriate based upon contractual terms. Whenever indebtedness is modified from its original terms, an evaluation is made whether an accounting modification or extinguishment has occurred in order to determine the accounting treatment for debt issuance costs related to the debt modification. Revenue Recognition The Company recognizes revenues to depict the transfer of promised services and products to customers in an amount that reflects the consideration the Company expects to receive in exchange for those services or products. Service revenues include the Harsco Clean Earth Segment and the service components of the Harsco Environmental and Harsco Rail Segments. Product revenues include portions of Harsco Environmental and Harsco Rail Segments. Harsco Environmental - This Segment provides on-site services, under long-term contracts, for material logistics; product quality improvement and resource recovery from iron, steel and metals manufacturing; manufactures and sells industrial abrasives and roofing granule products; and manufactures aluminum dross and scrap processing systems. • Service revenues are recognized over time as the customer simultaneously receives the benefits provided by the Company's performance. The Company utilizes an output method based on work performed (liquid steel tons processed, weight of material handled, etc.) to measure progress, which is deemed to best depict the transfer of value to the customer and revenue earned by the Company. Transaction prices are based on contractual terms, which may include both fixed and variable portions. The fixed portion is recognized as earned (normally monthly) over the contractual period. The variable portion is recognized as services are performed and differs based on the volume of services performed. Given the long-term nature of these arrangements, most contracts permit periodic adjustment of either the variable or both the fixed and variable portions based on the changes in macroeconomic indicators, including changes in commodity prices. Transaction prices, when the standalone selling price is not directly observable, are allocated to performance obligations utilizing an expected cost plus a margin approach. Amounts are typically billed and payable on a monthly basis as services are performed. • Product revenues are recognized at the point when control transfers to the customer. Control generally transfers at the point of shipment for domestic orders and in accordance with the international commercial terms included in contracts for export sales. Transaction prices are based on contractual terms, which are generally fixed and when the standalone selling price is not directly observable, allocated to performance obligations utilizing an adjusted market assessment approach. Amounts are billed and payable upon completion of each transaction. • Product revenues in the aluminum dross and scrap process systems business are generally recognized over time as control is transferred to the customer. Control transfers over time because aluminum dross and scrap systems are customized, have no alternate use and the Company has an enforceable right to payment. The Company utilizes an input method based on costs incurred ("cost-to-cost method") to measure progress, which is deemed to best depict the transfer of value to the customer and revenue earned by the Company. Transaction prices are based on contractual terms, which are generally fixed, and when the standalone selling price is not directly observable, allocated to performance obligations utilizing an adjusted market assessment approach. The Company may receive periodic payments associated with key milestones with any remaining consideration billed and payable upon completion of the transaction. Harsco Clean Earth - This Segment provides specialty waste processing and beneficial reuse solutions for hazardous wastes, contaminated materials and dredged volumes. • Revenues are recognized over time as the customer simultaneously receives the benefits provided by the Company's performance. The Company utilizes an output method based on the amount of materials received for processing to measure progress, which is deemed to best depict the transfer of value to the customer and revenue earned by the Company. Transaction prices are based on contractual terms which are generally fixed for hazardous waste and contaminated materials and which is variable (based on volumes) for dredged material. Fixed amounts are recognized as earned over the contractual period and variable amounts are recognized as services are performed and differ based on the volume of services performed. Transaction prices, when the standalone selling price is not directly observable, are allocated to performance obligations utilizing an expected cost plus a margin approach. Amounts are typically billed and payable on a monthly basis. Harsco Rail - This Segment sells railway track maintenance equipment, after-market parts, Protran/safety equipment and provides railway track maintenance services. • For the majority of railway track maintenance equipment sales, revenue is recognized at the point when control transfers to the customer. Control generally transfers at the point of shipment for domestic orders and in accordance with the international commercial terms included in contracts for export sales. In certain railway track maintenance equipment sales, revenue is recognized over time because such equipment is highly customized, has no alternate use and the Company has an enforceable right to payment. The Harsco Rail Segment uses the cost-to-cost method to measure progress because it is the measure that best depicts the transfer of control to the customer, which occurs as the Harsco Rail Segment incurs costs under the contracts. Under the cost-to-cost method, the extent of progress towards completion is based on the ratio of costs incurred to total estimated costs at completion which includes both actual costs already incurred and the estimated costs to complete. Accounting for contracts with customers using the cost-to-cost method requires significant judgment relative to assessing risks, estimating contract revenues (including estimates of variable consideration, if applicable), estimating contract costs (including estimating any liquidating damages or penalties related to performance, engineering costs to design the machine and the material, labor and overhead manufacturing costs to build the machine); making assumptions for schedule and technical items; properly executing the engineering and design phases consistent with customer expectations; the availability and costs of labor and material resources; productivity; and evaluating whether a significant financing component is present. Due to the number of years it may take to complete certain contracts and the scope and nature of the work required to be performed on those contracts, primarily in the Harsco Rail Segment, estimating total revenues and costs at completion is inherently complicated and subject to many variables. Transaction prices are based on contracted terms, which are generally fixed, and when the standalone selling price is not directly observable, allocated to performance obligations utilizing either the adjusted market assessment or expected cost plus a margin approach. For certain transactions, the Company receives periodic payments associated with key milestones. In limited instances, those payments are intended to provide financing with such transactions being treated as including a significant financing component. Any remaining consideration is billed and payable upon completion of the transaction. • For after-market parts sales and safety equipment, revenue is recognized at the point when control transfers to the customer. Control generally transfer to the customer at the point of shipment for domestic orders and in accordance with the international commercial terms included in contracts for export sales. Transaction prices are based on contracted terms, which are generally fixed, and when the standalone selling price is not directly observable, allocated to performance obligations utilizing an adjusted market assessment approach. Amounts are billed and payable upon completion of each contract. • For railway track maintenance services, revenue is recognized over time as the customer simultaneously receives the benefits provided by the Company's performance. The Company utilizes an appropriate output method based on work performed (feet, miles, shifts worked, etc.) to measure progress, which is deemed to best depict the transfer of value to the customer and revenue earned by the Company. Transaction prices are based on contracted terms, which are generally variable. The variable portion is recognized as services are performed and differs based on the value of services. Given the long-term nature of these arrangements, most contracts permit periodic adjustment based on the changes in macroeconomic indicators. Transaction prices, when the standalone selling price is not directly observable, are allocated to performance obligations utilizing an expected cost plus a margin approach. Amounts are typically billed and payable on a monthly basis as services are performed. The Company has elected to utilize the following practical expedients on an ongoing basis: • The Company has not adjusted the promised amount of consideration for the effects of a significant financing component if the Company expects, at contract inception, that the period between when the Company transfers the promised good or services to the customer and when the customer pays for that good or service would be one year or less; and • The Company has elected to exclude disclosures related to unsatisfied performance obligations where the related contract has a duration of one year or less; or where the consideration is entirely variable. Accordingly, the Company's disclosure related to unsatisfied performance obligations is limited to the railway track maintenance equipment in the Harsco Rail Segment and the fixed portion of fees related to metals services in the Harsco Environmental Segment. Taxes assessed by governmental authorities that are both imposed on and concurrent with a specific revenue-producing transaction, that are collected by the Company from a customer, are excluded from revenue. Additionally, in certain contracts, the Company facilitates shipping and handling activities after control has transferred to the customer. The Company has elected to record all shipping and handling activities as costs to fulfill a contract. In situations where the shipping and handling costs have not been incurred at the time revenue is recognized, the respective shipping and handling costs are accrued. On January 1, 2018, the Company adopted changes, with subsequent amendments, issued by the Financial Accounting Standards Board ("FASB") related to the recognition of revenue from contracts with customers. The Company chose to implement the impact of the FASB changes utilizing the modified retrospective method. Comparative information has not been restated and continues to be reported under U.S. GAAP in effect for those periods (2017). Income Taxes The Company accounts for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of the events that have been included in the consolidated financial statements. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial statements and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. The Company records deferred tax assets to the extent that the Company believes that these assets will more likely than not be realized. In making such determinations, the Company considers all available positive and negative evidence, including future reversals of existing deferred tax liabilities, projected future taxable income, tax planning strategies and recent financial results. In the event the Company was to determine that it would be able to realize deferred income tax assets in the future in excess of their net recorded amount, an adjustment to the valuation allowance would be made that would reduce the provision for income taxes. The Company prepares and files tax returns based on interpretation of tax laws and regulations and records its provision for income taxes based on these interpretations. Uncertainties may exist in estimating the Company's tax provisions and in filing tax returns in the many jurisdictions in which the Company operates, and as a result these interpretations may give rise to an uncertain tax position. The tax benefit from an uncertain tax position is recognized when it is more likely than not that the position will be sustained upon examination, including resolutions of any related appeals or litigation processes, based on its technical merits. Each subsequent period the Company determines if existing or new uncertain tax positions meet a more likely than not recognition threshold and adjust accordingly. The Company recognizes interest and penalties related to unrecognized tax benefits within Income tax expense in the accompanying Consolidated Statements of Operations. Accrued interest and penalties are included in Other liabilities on the Consolidated Balance Sheets. The significant assumptions and estimates described in the preceding paragraphs are important contributors to the effective tax rate each year. See Note 10, Income Taxes, for additional information. Accrued Insurance and Loss Reserves The Company retains a significant portion of the risk for U.S. workers' compensation, U.K. employers' liability, automobile, general and product liability losses. During 2019 , 2018 and 2017 , the Company recorded insurance expense from continuing operations related to these lines of coverage of $15.4 million , $13.5 million and $16.0 million , respectively. Reserves have been recorded that reflect the undiscounted estimated liabilities including claims incurred but not reported. When a recognized liability is covered by third-party insurance, the Company records an insurance claim receivable to reflect the covered liability. Changes in the estimates of the reserves are included in net income (loss) in the period determined. During 2019 , 2018 and 2017 , the Company recorded insurance reserve adjustments that decreased pre-tax insurance expense from continuing operations for self-insured programs by $1.5 million , $2.0 million and $1.5 million , respectively. At December 31, 2019 and 2018 , the Company has recorded liabilities of $28.7 million and $60.3 million , respectively, related to both asserted as well as unasserted insurance claims. Included in the balances at December 31, 2019 and 2018 were $3.7 million and $34.2 million , respectively, of recognized liabilities covered by insurance carriers. Amounts estimated to be paid within one year have been included in current caption, Insurance liabilities, with the remainder included in non-current caption, Insurance liabilities, on the Consolidated Balance Sheets. Warranties The Company provides for warranties of certain products as they are sold. The following table summarizes the warranty activity for 2019 , 2018 and 2017 : (In thousands) 2019 2018 2017 Warranty reserves, beginning of the year $ 5,243 $ 5,486 $ 6,001 Accruals for warranties issued during the year 4,134 3,837 4,533 Reductions related to pre-existing warranties (2,748 ) (3,320 ) (3,428 ) Acquisitions (See Note 3) — 249 — Warranties paid (649 ) (942 ) (1,637 ) Other (principally foreign currency translation) (60 ) (67 ) 17 Warranty reserves, end of the year $ 5,920 $ 5,243 $ 5,486 Warranty expense and payments are incurred principally in the Harsco Rail Segment. Warranty activity may vary from year to year depending upon the mix of revenues and contractual terms related to product warranties. Foreign Currency Translation The financial statements of the Company's subsidiaries outside the U.S., except for those subsidiaries located in highly inflationary economies and those entities for which the U.S. dollar is the currency of the primary economic environment in which the entity operates, are measured using the local currency as the functional currency. Assets and liabilities of these subsidiaries are translated at the exchange rates at the balance sheet date. Resulting translation adjustments are recorded in the cumulative translation adjustment account, a separate component of Accumulated other comprehensive loss on the Consolidated Balance Sheets. Income and expense items are translated at average monthly exchange rates. Gains and losses from foreign currency transactions are included in Operating income from continuing operations. For subsidiaries operating in highly inflationary economies, and those entities for which the U.S. dollar is the currency of the primary economic environment in which the entity operates, gains and losses on foreign currency transactions and balance sheet translation adjustments are included in Operating income from continuing operations. Financial Instruments and Hedging The Company has operations throughout the world that are exposed to fluctuations in related foreign currencies in the normal course of business. The Company seeks to reduce exposure to foreign currency fluctuations through the use of forward exchange contracts. The Company does not hold or issue financial instruments for trading purposes and it is the Company's policy to prohibit the use of derivatives for speculative purposes. The Company has a Foreign Currency Risk Management Committee that meets periodically to monitor foreign currency risks. The Company executes foreign currency exchange forward contracts to hedge transactions for firm purchase commitments, to hedge variable cash flows of forecasted transactions and for export sales denominated in foreign currencies. These contracts are generally for 90 days or less; however, where appropriate, longer-term contracts may be utilized. For those contracts that are designated as qualified cash flow hedges, gains or losses are recorded in Accumulated other comprehensive loss on the Consolidated Balance Sheets. The Company uses interest rate swaps in conjunction with certain debt issuances in order to secure a fixed interest rate. The interest rate swaps are recorded on the Consolidated Balance Sheets at fair value, with changes in value attributed to the effect of the swaps’ interest spread and changes in the credit worthiness of the counter-parties recorded in Accumulated other comprehensive loss. Amounts recorded in Accumulated other comprehensive loss on the Consolidated Balance Sheets are reclassified into operations in the same period or periods during which the hedged forecasted transaction affects income. The cash flows from these contracts are classified consistent with the cash flows from the transaction being hedged (e.g., the cash flows related to contracts to hedge the purchase of fixed assets are included in cash flows from investing activities, etc.). The Company also enters into certain forward exchange contracts that are not designated as hedges. Gains and losses on these contracts are recognized in operations based on changes in fair market value. For fair value hedges of a firm commitment, the gain or loss on the derivative and the offsetting gain or loss on the hedged firm commitment are recognized currently in operations. See Note 14, Financial Instruments, for additional information. Earnings Per Share Basic earnings per share are calculated using the weighted-average shares of common stock outstanding, while diluted earnings per share reflect the dilutive effects of stock-based compensation. Dilutive securities are not included in the computation of loss per share when the Company reports a net loss from continuing operations as the impact would be anti-dilutive. All share and per share amounts are restated for any stock splits and stock dividends that occur prior to the issuance of the fi |
Recently Adopted and Recently I
Recently Adopted and Recently Issued Accounting Standards | 12 Months Ended |
Dec. 31, 2019 | |
Accounting Changes and Error Corrections [Abstract] | |
Recently Adopted and Recently Issued Accounting Standards | Recently Adopted and Recently Issued Accounting Standards The following accounting standards have been adopted in 2019: On January 1, 2019, the Company adopted changes issued by the FASB related to accounting for leases. The changes introduce a lessee model that brings most leases onto the balance sheet. The changes also align many of the underlying principles of the new lessor model with those in the FASB’s new revenue recognition standard. Furthermore, the changes address other concerns related to the current lease model such as eliminating the requirement in current guidance for an entity to use bright-line tests in determining lease classification. The changes also require lessors to increase the transparency of their exposure to changes in value of their residual assets and how they manage that exposure. The Company elected the package of practical expedients permitted under the transition, which among other items, allowed the carry forward of the historical lease classification. The Company has elected to apply the transition requirements at the January 1, 2019 effective date and therefore, comparative information has not been restated and continues to be reported under U.S. GAAP in effect for those periods. The changes had a significant impact on the Consolidated Balance Sheets upon adoption and the Company recorded ROU assets and lease liabilities of $34.0 million and $34.2 million , respectively. The difference between the ROU assets and lease liabilities was recorded primarily as adjustments to other assets and liabilities where prepaid rent and deferred expenses were previously recorded. Additionally, the Company's accounting for finance leases remained consistent. The changes did not have an impact on the Company’s Consolidated Statements of Operations or Consolidated Statements of Cash Flows. The discount rates used to calculate the ROU assets and lease liabilities as of the effective date were based on the remaining lease terms as of the effective date. See Note 8, Leases, for additional information. On January 1, 2019, the Company adopted changes issued by the FASB which expand and refine hedge accounting for both financial and non-financial risk components, aligns the recognition and presentation of the effects of hedging instruments and hedged items in the financial statements and includes certain targeted improvements to ease the application of current guidance related to the assessment of hedge effectiveness. Upon adoption, the Company’s recognition model for the excluded component was modified from a mark-to-market approach to an amortization approach for hedging relationships. Hedging relationships entered into on or after January 1, 2019 will be under the amortization approach while those entered into before January 1, 2019 will continue to be recognized under the mark-to-market approach. As such, there was no effect of applying this election reflected as an adjustment to Accumulated other comprehensive loss with a corresponding adjustment to the opening balance of Retained earnings. Presentation and disclosure amendments are required to be applied prospectively. Other than required expanded disclosures, the adoption of these changes did not have a material impact on the Company's consolidated financial statements. On January 1, 2019, the Company adopted changes issued by the FASB which allow entities to reclassify stranded income tax effects resulting from the Tax Cuts and Jobs Act (the “Tax Act”) from accumulated other comprehensive income to retained earnings in the consolidated financial statements. Under the Tax Act, deferred taxes were adjusted to reflect the reduction of the historical corporate income tax rate to the newly enacted corporate income tax rate, which left the tax effects on items within accumulated other comprehensive income stranded at historical tax rates. The adoption of these changes resulted in the Company reclassifying approximately $21 million of stranded income tax effects into Retained earnings. The following accounting standards have been issued and become effective for the Company at a future date: In June 2016, the FASB issued changes, as amended, which update the impairment model by requiring entities to use a forward-looking approach based on expected losses rather than incurred losses to estimate credit losses on certain types of financial instruments, including trade receivables. This may result in the earlier recognition of allowances for losses. The changes become effective for the Company on January 1, 2020. Other than required expanded disclosures, the adoption of these changes will not have a material impact on the Company's consolidated financial statements. In January 2017, the FASB issued changes that remove Step 2 of the annual goodwill impairment test, which requires a hypothetical purchase price allocation. The changes provide that the amount of goodwill impairment will be equal to the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. All other goodwill impairment guidance remains largely unchanged. The same one-step impairment test will be applied to goodwill at all reporting units, even those with zero or negative carrying amounts. Entities will be required to disclose the amount of goodwill at reporting units with zero or negative carrying amounts. The changes become effective for the Company on January 1, 2020. Management has determined that these changes will not have a material impact on the Company's consolidated financial statements. However, should the Company be required to record a goodwill impairment charge in future periods, the amount recorded may differ compared to any amounts that might be recorded under current practice. In August 2018, the FASB issued changes which modify the disclosure requirements for fair value measurements. The amendments in this update remove the requirement to disclose the amount of, and reasons for, transfers between Level 1 and Level 2 of the fair value hierarchy; the policy for timing of transfers between levels; and the valuation processes for Level 3 fair value measurements. The changes require disclosure of changes in unrealized gains and losses for the period included in other comprehensive income (loss) for recurring Level 3 fair value measurements held at the end of the reporting period and the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. The changes become effective for the Company on January 1, 2020. Other than required expanded disclosures, the adoption of these changes will not have a material impact on the Company's consolidated financial statements. In August 2018, the FASB issued changes which modify the disclosure requirements for employers that sponsor defined benefit pension or other post-retirement plans. The changes remove the requirements to disclose: amounts in accumulated other comprehensive income (loss) expected to be recognized as components of net periodic benefit cost over the next fiscal year; the amount and timing of plan assets expected to be returned to the employer and the effects of a one-percentage point change in assumed health care cost trend rates. The update also requires disclosure of an explanation of the reasons for significant gains and losses related to changes in the benefit obligation for the period. The changes become effective for the Company on January 1, 2021. Management does not believe these changes will have a material impact on its consolidated financial statements. In December 2019, the FASB issued changes which are intended to reduce complexity and simplify the accounting for income taxes in accordance with U.S. GAAP by removing certain exceptions related to investments, intraperiod allocations and interim calculations and clarifying existing guidance to improve consistent application. The changes become effective for the Company on January 1, 2021, with early adoption permitted. Management is currently evaluating the impact of these changes on its consolidated financial statements. |
Acquisitions and Dispositions
Acquisitions and Dispositions | 12 Months Ended |
Dec. 31, 2019 | |
Business Combinations [Abstract] | |
Acquisitions and Dispositions | Acquisitions and Dispositions Clean Earth On June 28, 2019, the Company acquired 100% of the outstanding stock of Clean Earth, one of the largest U.S. providers of specialty waste processing and beneficial reuse solutions for hazardous wastes, contaminated materials and dredged volumes, for an enterprise valuation of approximately $625 million on a cash free, debt free basis, subject to normal working capital adjustments. The Company transferred approximately $628 million of cash consideration and agreed to reimburse the sellers for any usage of assumed net operating losses in a post-closing period for up to five years , the present value of which is estimated at approximately $8 million . Clean Earth provides solutions that analyze, treat, document and recycle waste streams generated by multiple end-markets such as infrastructure, chemicals, aerospace and defense, non-public/private development, medical, industrial and dredging. Clean Earth treatment processes include thermal desorption, dredged material stabilization, bioremediation, physical treatment/screen and chemical fixation. Clean Earth operates 27 permitted facilities in the U.S. and maintains a portfolio of more than 200 permits with a 100% permit renewal success rate to date. In addition, Clean Earth owns 9 Resource Conservation and Recovery Act (RCRA) Part B Permits which include 6 Treatment, Storage and Disposal Facility (TSDF) permits that enable the Company to process complex and highly recurring hazardous waste streams. The fair value recorded for the assets acquired and liabilities assumed for Clean Earth is as follows: Preliminary Valuation (In millions) June 28, 2019 Measurement Period Adjustments (a) December 31 Cash and cash equivalents (b) $ 42.8 $ (39.2 ) $ 3.6 Trade accounts receivable, net 63.7 (1.2 ) 62.5 Other receivables 0.8 1.3 2.1 Other current assets 8.7 (1.4 ) 7.3 Property, plant and equipment 75.6 1.7 77.3 Right-of-use assets 14.4 11.4 25.8 Goodwill 313.8 16.4 330.2 Intangible assets 261.1 (18.9 ) 242.2 Other assets 4.0 (3.0 ) 1.0 Accounts payable (23.0 ) (0.1 ) (23.1 ) Acquisition consideration payable (b) (39.2 ) 39.2 — Other current liabilities (18.0 ) (1.3 ) (19.3 ) Net deferred taxes liabilities (51.2 ) 5.4 (45.8 ) Operating lease liabilities (11.1 ) (8.4 ) (19.5 ) Other liabilities (6.5 ) (2.1 ) (8.6 ) Total identifiable net assets of Clean Earth $ 635.9 $ (0.2 ) $ 635.7 (a) The measurement period adjustments did not have a material impact on the Company's previously reported operating results. (b) Acquisition consideration payable represents a portion of the cash consideration not paid out until July 2019. The goodwill is attributable to strategic benefits, including enhanced operational and financial scale, as well as product and market diversification that the Company expects to realize. The Company expects $16.3 million of goodwill to be deductible for income tax purposes through 2033. The following table details the preliminary valuation of identifiable intangible assets and amortization periods for Clean Earth: Preliminary Valuation (Dollars in millions) Weighted-Average Amortization Period Preliminary Valuation June 28, 2019 Measurement Period Adjustments (c) December 31 Permits 18 years $ 176.1 $ (6.0 ) $ 170.1 Customer relationships and backlog 7.5 years 33.4 (12.9 ) 20.5 Air rights Usage based (d) 25.6 — 25.6 Trade names 11.5 years 26.0 — 26.0 Total identifiable intangible assets of Clean Earth $ 261.1 $ (18.9 ) $ 242.2 (c) The measurement period adjustments did not have a material impact on the Company's previously reported operating results. (d) The Company estimates that based on current usage that the expected useful life would be 26.5 years . The Company valued the identifiable intangible assets using an income-based approach that utilized either the multi-period excess earnings method or the relief from royalty method. The purchase price allocation for Clean Earth is not final, primarily due to certain tax related matters, and the fair value of intangible assets and goodwill may vary from those reflected in the Company's consolidated financial statements at December 31, 2019 . The year ended December 31, 2019 include Clean Earth direct acquisition costs of $15.2 million which are included in Selling, general and administrative expenses in the Company’s Consolidated Statements of Operations. In addition to the acquisition costs reflected in the Company’s Consolidated Statements of Operations, the debt issuance costs associated with the issuance of debt to fund the acquisition are reflected, net of amortization subsequent to the acquisition date, as Long-term debt on the Company’s Consolidated Balance Sheets. See Note 7, Debt and Credit Agreements, for additional information. Included in the liabilities acquired was a contingent consideration liability resulting from a prior Clean Earth acquisition. Any changes in the fair value of contingent consideration related to updated assumptions and estimates will be recognized on the Consolidated Statements of Operations during the period in which the change occurs. The following table reflects the changes in the fair value of contingent consideration which occurred since acquisition: (In thousands) 2019 Balance at June 28, 2019 $ 3,100 Payment (525 ) Fair value adjustment 825 Balance at end of year $ 3,400 The pro forma information below gives effect to the Clean Earth acquisition as if it had been completed on January 1, 2018. The pro forma information is not necessarily indicative of the Company’s results of operations had the acquisition been completed on the above date, nor is it necessarily indicative of future results. The pro forma information does not reflect any cost savings from operating efficiencies or synergies that could result from the acquisition and does not reflect the additional revenue opportunities following the acquisition. The pro forma information below includes adjustments to reflect additional depreciation and amortization expense based on the estimated fair value and useful lives of intangible assets and fixed assets acquired; includes additional interest expense of approximately $18 million for the year ended December 31, 2019 and approximately $36 million for the year ended December 31, 2018 on the acquisition related borrowings used to finance the Clean Earth acquisition and excludes certain directly attributable transaction costs and historic Clean Earth interest expense. The values assigned to the assets acquired and liabilities assumed are based on preliminary valuations and are subject to change as the Company obtains additional information during the measurement period. Year Ended December 31 (In millions) 2019 2018 Pro forma revenues $ 1,635.9 $ 1,614.6 Pro forma net income (including discontinued operations) (e) 517.6 116.1 (e) Pro forma net income for 2019 includes a $453.6 million after-tax gain on the sale of AXC and PK. Altek In May 2018, the Company acquired Altek Europe Holdings Limited and its affiliated entities (collectively, "Altek"), a U.K.-based manufacturer of market-leading products that enable aluminum producers and recyclers to manage and efficiently extract value from critical byproduct streams, reduce byproduct generation and improve operating productivity. The Company acquired Altek, on a debt and cash free basis, for a purchase price of £45 million (approximately $60 million ) in cash, with the potential for up to £25 million (approximately $33 million ) in additional contingent consideration through 2021 subject to the future financial performance of Altek. The cash consideration transferred included payments of $57.4 million , inclusive of normal working capital adjustments. In addition, the Company recognized contingent consideration with an initial fair value of $12.1 million as of the acquisition date. Altek's revenues and operating results have been included in the results of the Harsco Environmental Segment. Inclusion of pro forma financial information for this transaction is not necessary as the acquisition is immaterial to the Company's results of operations. The fair value recorded for the assets acquired and liabilities assumed for Altek is as follows: Final Valuation (In millions) June 30 2018 Measurement Period Adjustments (f) March 31 Cash and cash equivalents $ 1.7 $ — $ 1.7 Net working capital (1.5 ) 0.2 (1.3 ) Property, plant and equipment 3.3 — 3.3 Intangible assets 52.5 0.2 52.7 Goodwill 20.9 1.6 22.5 Net deferred tax liabilities (8.5 ) — (8.5 ) Other liabilities (0.3 ) — (0.3 ) Total identifiable net assets of Altek $ 68.1 $ 2.0 $ 70.1 (f) The measurement period adjustments did not have a material impact on the Company's previously reported operating results. The initial fair value of contingent consideration was estimated using a probability simulation model which uses assumptions and estimates to forecast a range of outcomes for the contingent consideration. Key inputs to the model include projected earnings before interest, tax, depreciation and amortization; the discount rate; the projection risk neutralization rate; and volatility, which are Level 3 data. The Company will continue to assess these assumptions and estimates on a quarterly basis as additional data impacting the assumptions is obtained. Any changes in the fair value of contingent consideration related to updated assumptions and estimates will be recognized on the Consolidated Statements of Operations during the period in which the change occurs. The following table reflects the changes in the fair value of contingent consideration: (In thousands) 2019 2018 Balance at beginning of year $ 8,420 $ — Recognition of contingent consideration — 10,097 Measurement period adjustment (g) — 1,958 Fair value adjustment (h) (8,506 ) (2,939 ) Foreign currency translation 86 (696 ) Balance at end of year $ — $ 8,420 (g) Measurement period adjustment was recorded to goodwill on the Consolidated Balance Sheet. (h) The fair value adjustment resulted from the decreased probability of Altek achieving cumulative financial and non-financial performance goals within the required time frame. This amount is recorded in Other expenses, net on the Consolidated Statements of Operations. Harsco Industrial Segment In May 2019, the Company announced the intent to divest the businesses that comprised the Harsco Industrial Segment; Harsco Industrial Air-X-Changers ("AXC"), Harsco Industrial IKG ("IKG") and Harsco Industrial Patterson-Kelley ("PK"). These disposals represent a strategic shift and accelerate the transformation of the Company's portfolio of businesses into a leading provider of environmental solutions and services. In July 2019, the Company sold AXC for $600 million in cash and recognized a gain on sale of $527.9 million pre-tax (or approximately $421 million after-tax). In November 2019, the Company sold PK for approximately $60 million in cash and recognized a gain on sale of $41.2 million pre-tax (or approximately $33 million after-tax). These gains have been recorded in the Consolidated Statements of Operations as discontinued operations for the year ended December 31, 2019. In January 2020, the Company sold IKG for $85 million in cash and notes, subject to post-closing adjustments. The former Harsco Industrial Segment's balance sheet positions as of December 31, 2019 and December 31, 2018 are presented as Assets held-for-sale and Liabilities of assets held-for-sale in the Company’s Consolidated Balance Sheets and are summarized as follows: (in thousands) December 31, 2019(i) December 31 Trade accounts receivable, net $ 10,982 $ 44,786 Other receivables 78 412 Inventories 9,838 16,926 Current portion of contract assets — 12,124 Other current assets 655 984 Property, plant and equipment, net 20,703 37,107 Right-of-use assets, net 11,230 — Goodwill — 6,839 Intangible assets, net — 10,618 Deferred income tax assets — 563 Other assets 96 204 Total assets $ 53,582 $ 130,563 Accounts payable $ 5,060 $ 24,426 Accrued compensation 2,324 7,385 Current portion of advances on contracts 1,168 1,910 Current portion of operating lease liabilities 1,575 — Other current liabilities 1,218 5,689 Operating lease liabilities 9,837 — Other liabilities 2,314 555 Total liabilities $ 23,496 $ 39,965 (i) The decrease from December 31, 2018 is primarily related to the sale of AXC and PK. The Harsco Industrial Segment has historically been a separate reportable segment with primary operations in North America and Latin America. In accordance with U.S. GAAP, the results of the former Harsco Industrial Segment are presented as discontinued operations and, as such, have been excluded from both continuing operations and segment results for the years ended December 31, 2019 , 2018 , and 2017 . Certain key selected financial information included in net income from discontinued operations for the former Harsco Industrial Segment is as follows: Years ended December 31 (In millions) 2019 2018 2017 Amounts directly attributable to the former Harsco Industrial Segment: Total revenues $ 306,972 $ 374,707 $ 299,592 Cost of products sold 224,811 276,198 225,163 Gain on sale from discontinued businesses 569,135 — — Income from discontinued business 27,823 43,593 20,049 Additional amounts allocated to the former Harsco Industrial Segment: Selling, general and administrative expenses (j) $ 8,429 $ — $ — Interest expense (k) 11,237 16,613 20,689 Loss on early extinguishment of debt (l) 5,314 — — (j) The Company has allocated directly attributable transaction costs to discontinued operations. (k) The Company has allocated interest expense, including a portion of the amount reclassified into income for the Company's interest rate swaps, amortization of deferred financing costs, and $2.7 million related to interest rate swap terminations which occurred during the year ended December 31, 2019, all of which were directly attributed with the mandatory repayment of the Company's Term Loan Facility, resulting from the AXC disposal, as part of discontinued operations. (l) The Company has allocated the $5.3 million write-off of deferred financing costs to discontinued operations as it is directly attributed to the mandatory repayment of the Term Loan Facility that resulted from the AXC disposal. The Company has retained corporate overhead expenses previously allocated to the Harsco Industrial Segment of $4.0 million , $5.6 million and $5.6 million in 2019 , 2018 , and 2017 , respectively, as part of Selling, general and administrative expenses on the Consolidated Statements of Operations. The following is selected financial information included on the Consolidated Statements of Cash Flows attributable to the former Harsco Industrial Segment: Years Ended December 31 (In millions) 2019 2018 2017 Non-cash operating items Depreciation and amortization $ 3,301 $ 7,729 $ 7,360 Cash flows from investing activities Purchases of property, plant and equipment 8,372 7,561 6,895 |
Accounts Receivable and Invento
Accounts Receivable and Inventories | 12 Months Ended |
Dec. 31, 2019 | |
Accounts Receivable and Inventories [Abstract] | |
Accounts Receivable and Inventories | Accounts Receivable and Inventories Accounts receivable consist of the following: (In thousands) December 31 December 31 Trade accounts receivable $ 323,502 $ 251,013 Less: Allowance for doubtful accounts (13,512 ) (4,586 ) Trade accounts receivable, net $ 309,990 $ 246,427 Insurance claim receivable (a) $ — $ 30,000 Other receivables (b) $ 21,265 $ 23,770 (a) Relates to the Lima Refinery litigation. See Note 11, Commitments and Contingencies, for additional information. (b) Other receivables include employee receivables, tax claim receivables and other miscellaneous receivables not included in Trade accounts receivable, net. The provision for doubtful accounts related to trade accounts receivable was as follows: Years Ended December 31 (In thousands) 2019 2018 2017 Provision for doubtful accounts related to trade accounts receivable $ 7,507 $ 380 $ 5,211 The increase in the provision for doubtful accounts for the year ended 2019 primarily resulted from a provision for doubtful accounts in the Harsco Environmental Segment related to a customer in the U.K. entering administration. The Company continues to provide services to the customer and continues to collect on post-administration invoices timely while the customer seeks a buyer for their operations. Depending on the outcome of any potential transactions, there could be an impact on the Company's results of operations, cash flows and asset valuations in the future, which may be material in any one period. The provision for doubtful accounts for the year ended 2017 relates principally to the write-off of certain pre-administration receivable balances for one of the Company's customers in Australia in the Harsco Environmental Segment. Inventories consist of the following: (In thousands) December 31 December 31 Finished goods $ 14,550 $ 11,892 Work-in-process 13,088 20,839 Raw materials and purchased parts 104,488 61,547 Stores and supplies 24,865 21,907 Total inventories $ 156,991 $ 116,185 Valued at lower of cost or market: LIFO basis $ 101,465 $ 66,650 FIFO basis 7,473 5,719 Average cost basis 48,053 43,816 Total inventories $ 156,991 $ 116,185 Inventories valued on the LIFO basis at both December 31, 2019 and 2018 were approximately $23 million less than the amounts of such inventories valued at current costs. During 2018 and 2017 as a result of reducing certain inventory quantities valued on a LIFO basis, net income (loss) was favorably impacted compared to that which would have been recorded under the FIFO basis of valuation by $0.6 million and $0.4 million , respectively. There was no impact during 2019 . The Company recognized an initial estimated forward loss provision related to the contracts with the federal railway system of Switzerland ("SBB") of $45.1 million for the year ended December 31, 2016. The Company recorded an additional forward loss provision of $1.8 million for the year ended December 31, 2018. At December 31, 2019 , the entire remaining estimated forward loss provision of $6.4 million is included in the caption Other current liabilities on the Consolidated Balance Sheets. The estimated forward loss provision represents the Company's best estimate based on currently available information. It is possible that the Company's overall estimate of costs to complete these contracts may increase, which would result in an additional estimated forward loss provision at such time. The Company recognized $23.4 million and $24.2 million of revenues for the contracts with SBB, on an over time basis, utilizing a cost-to-cost method for the years ended December 31, 2019 and 2018 , respectively. In addition, for the year ended December 31, 2017 $42.5 million of revenue based on the percentage-of-completion (units-of-delivery) method of accounting, whereby revenues and estimated average costs of the units to be produced under the contracts are recognized as deliveries are made or accepted. The Company has substantially completed the first contract and is approximately 42% complete on the second contract with SBB as of December 31, 2019 . |
Property, Plant and Equipment
Property, Plant and Equipment | 12 Months Ended |
Dec. 31, 2019 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment | Property, Plant and Equipment Property, plant and equipment consist of the following: (In thousands) Estimated Useful Lives December 31 December 31 Land — $ 30,409 $ 10,143 Land improvements 5-20 years 19,155 15,961 Buildings and improvements (a) 5-40 years 182,795 163,037 Machinery and equipment 3-20 years 1,518,652 1,470,620 Uncompleted construction — 55,592 36,968 Gross property, plant and equipment 1,806,603 1,696,729 Less: Accumulated depreciation (1,244,817 ) (1,263,936 ) Property, plant and equipment, net $ 561,786 $ 432,793 (a) Buildings and improvements include leasehold improvements that are amortized over the shorter of their useful lives or the initial term of the lease. |
Goodwill and Other Intangible A
Goodwill and Other Intangible Assets | 12 Months Ended |
Dec. 31, 2019 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Other Intangible Assets | Goodwill and Other Intangible Assets Goodwill by Segment The following table reflects the changes in carrying amounts of goodwill by segment for the years ended December 31, 2019 and 2018 : (In thousands) Harsco Environmental Segment Harsco Clean Earth Segment Harsco Rail Segment Consolidated Totals Balance at December 31, 2017 $ 381,893 $ — $ 13,026 $ 394,919 Changes to goodwill (a) 22,518 — — 22,518 Foreign currency translation (12,724 ) — — (12,724 ) Balance at December 31, 2018 391,687 — 13,026 404,713 Changes to goodwill (b) — 330,230 — 330,230 Foreign currency translation 3,426 — — 3,426 Balance at December 31, 2019 $ 395,113 $ 330,230 $ 13,026 $ 738,369 (a) Changes to goodwill in the Harsco Environmental Segment relate to the acquisition of Altek. See Note 3, Acquisitions and Dispositions. (b) The changes to goodwill related to the acquisition of Clean Earth. See Note 3, Acquisitions and Dispositions. The Company's methodology for determining reporting unit fair value is described in Note 1, Summary of Significant Accounting Policies. Performance of the Company's 2019 annual impairment test did not result in impairment of any of the Company's reporting units. Intangible Assets Intangible assets totaled $299.1 million , net of accumulated amortization of $113.6 million at December 31, 2019 and $69.2 million , net of accumulated amortization of $101.4 million at December 31, 2018 . The following table reflects these intangible assets by major category: December 31, 2019 December 31, 2018 (In thousands) Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Customer related $ 143,996 $ 99,327 $ 122,378 $ 93,577 Permits 170,322 4,694 — — Technology related 36,467 5,635 35,831 2,681 Trade names 31,719 2,182 5,565 682 Air rights 26,139 411 — — Patents 249 168 2,598 2,503 Other 3,765 1,158 4,214 1,936 Total $ 412,657 $ 113,575 $ 170,586 $ 101,379 Amortization expense for intangible assets was $15.5 million , $5.9 million and $3.3 million for 2019 , 2018 and 2017 , respectively. The following table shows the estimated amortization expense for the next five fiscal years based on current intangible assets. (In thousands) 2020 2021 2022 2023 2024 Estimated amortization expense (a) $ 23,500 $ 22,400 $ 22,000 $ 22,000 $ 22,000 (a) These estimated amortization expense amounts do not reflect the potential effect of future foreign currency exchange rate fluctuations. |
Debt and Credit Agreements
Debt and Credit Agreements | 12 Months Ended |
Dec. 31, 2019 | |
Debt Disclosure [Abstract] | |
Debt and Credit Agreements | Debt and Credit Agreements The Company's long-term debt consists of the following: (In thousands) December 31 December 31 Senior Secured Credit Facilities (a) : Term Loan Facility with an interest rate of 4.1% and 4.8% at December 31, 2019 and 2018, respectively $ 218,188 $ 541,788 Revolving Credit Facility with an average interest rate of 5.0% and 4.6% at December 31, 2019 and 2018, respectively 67,000 62,000 5.75% notes due July 31, 2027 500,000 — Other financing payable (including capital leases) in varying amounts due principally through 2020 with a weighted-average interest rate of 3.9% at December 31, 2019 and 2018. 9,827 1,606 Total debt obligations 795,015 605,394 Less: deferred financing costs (16,851 ) (13,243 ) Total debt obligations, net of deferred financing costs 778,164 592,151 Less: current maturities of long-term debt (2,666 ) (6,489 ) Long-term debt $ 775,498 $ 585,662 (a) All amounts related to the Senior Secured Credit Facilities were reflected as Long-term debt at December 31, 2019. The current portion of long-term debt related to the Senior Secured Credit Facilities was $5.4 million with the remainder reflected as Long-term debt at December 31, 2018. The maturities of long-term debt for the four years following December 31, 2020 are as follows: (In thousands) 2021 $ 2,191 2022 1,956 2023 1,846 2024 286,354 Cash payments for interest on debt were $27.6 million , $34.2 million and $44.3 million in 2019 , 2018 and 2017 , respectively. Senior Secured Credit Facilities The Company's Senior Secured Credit Facilities are comprised of a Term Loan Facility and a Revolving Credit Facility. In December 2017, the Company amended the Credit Agreement governing the Senior Secured Credit Facilities (the "Credit Agreement") to, among other things, reduce the interest rate applicable to the Term Loan Facility, improve certain covenants and extend the maturity date by a year until December 2024. As a result of this amendment, a charge of $2.3 million was recorded during the fourth quarter of 2017 consisting principally of fees associated with the transaction and the write-off of unamortized deferred financing costs and is reflected in the operating activities section of the Consolidated Statements of Cash Flows as part of Net income. In June 2018, the Company amended the Credit Agreement to, among other things, reduce the interest rate applicable to the Term Loan Facility and to increase the limit of the Revolving Credit Facility. A charge of $1.1 million was recorded during 2018 consisting principally of fees associated with the transaction and the write-off of unamortized deferred financing costs. In June 2019, the Company amended the Credit Agreement to, among other things, increase the borrowing capacity of the Revolving Credit Facility by $200 million to a total of $700 million , extend the maturity date of the Revolving Credit Facility until June 2024 and increase the maximum net debt to consolidated adjusted earnings before interest, tax, depreciation and amortization ratio from 3.5 to 4.5 , which decreases to 4.0 for the second quarter of 2020 and periods thereafter. As of December 31, 2019, $1.0 million of expenses were recognized related to the amended Credit Agreement. The Company has capitalized $2.6 million of fees related to the amendment of the Revolving Credit Facility. The Credit Agreement imposes certain restrictions including, but not limited to, restrictions as to types and amounts of debt of liens that may be incurred by the Company; limitations on increases in dividend payments; limitations on repurchases of the Company's stock and limitations on certain acquisitions by the Company. The Credit Agreement contains a consolidated net debt to consolidated adjusted earnings before interest, tax, depreciation and amortization ("EBITDA") ratio covenant, which is not to exceed 4.5 to 1.0 , as of December 31, 2019, and a minimum consolidated adjusted EBITDA to consolidated interest charges ratio covenant, which is not to be less than 3.0 to 1.0 . At December 31, 2019 , the Company was in compliance with these and all other covenants. With respect to the Senior Secured Credit Facilities, the obligations of the Company are guaranteed by substantially all of the Company’s current and future wholly-owned domestic subsidiaries (“Guarantors”). All obligations under the Senior Credit Facility, and the guarantees of those obligations, are secured, subject to certain exceptions, by substantially all of the Company’s assets and the assets of the Guarantors. Term Loan Facility Borrowings under the Term Loan Facility bear interest at a rate per annum of 225 basis points over the adjusted LIBOR rate, subject to a 1% floor, as defined in the Credit Agreement. The Term Loan Facility matures on December 8, 2024. The Credit Agreement requires certain mandatory prepayments of the Term Loan Facility, subject to certain exceptions, based on net cash proceeds of certain sales or distributions of assets, as well as certain casualty and condemnation events, in some cases subject to reinvestment rights and certain other exceptions; net cash proceeds of any issuance of debt, excluded permitted debt issuances; and a percentage of excess cash flow, as defined by the Credit Agreement, during a fiscal year. In July 2019, the Company made a prepayment of $320.9 million on the $550 million Term Loan Facility, using proceeds from the sale of AXC. The remainder of the proceeds from the sale were used to pay down the Revolving Credit Facility. As a result of this prepayment, the Company wrote off $5.3 million of previously recorded deferred financing costs on the Condensed Consolidated Statement of Operations as discontinued operations for the year ended December 31, 2019. The prepayment satisfied all future quarterly principal payment requirements under the Term Loan Facility; the remaining principal is due at maturity. Revolving Credit Facility Borrowings under the $700 million Revolving Credit Facility bear interest at a rate per annum ranging from 50 to 125 basis points over the base rate or 150 to 225 basis points over the adjusted London Interbank Offered Rate ("LIBOR") as defined in the Credit Agreement, subject to a 0% floor. Any principal amount outstanding under the Revolving Credit Facility is due and payable on the maturity of the Revolving Credit Facility. The Revolving Credit Facility matures on June 28, 2024. The following table illustrates the amount outstanding under the Revolving Credit Facility and available credit at December 31, 2019 . December 31, 2019 (In thousands) Facility Limit Outstanding Balance Outstanding Letters of Credit Available Credit Revolving Credit Facility (a U.S.-based program) $ 700,000 $ 67,000 $ 25,352 $ 607,648 5.75% Notes due July 31, 2027 During June 2019, the Company completed a private placement of $500.0 million principal amount of senior unsecured notes (the "Notes"). The Notes are due July 31, 2027 and bear interest at a fixed rate of 5.75% , which is payable on January 31 and July 31 of each year, beginning on January 31, 2020. The Notes are fully and unconditionally guaranteed, jointly and severally, by all of the wholly owned domestic subsidiaries of the Company that guarantee the Senior Secured Credit Facilities. The indenture governing the Notes contains provisions that (i) allow the Company to redeem some or all of the Notes prior to maturity; (ii) require the Company to offer to repurchase all of the Notes upon a change in control; and (iii) require adherence to certain covenants which are generally less restrictive than those included in the Company's Credit Agreement. The Notes were used, together with borrowings under the Company's Revolving Credit Facility, to fund the acquisition of Clean Earth. See Note 3, Acquisitions and Dispositions, for additional information. The Company has capitalized $9.0 million of fees related to the issuance of the Notes. Other In addition, during the second quarter of 2019, the Company recognized $6.7 million of expenses for fees and other costs related to bridge financing commitments that the Company arranged in the event that the Notes were not issued prior to the acquisition of Clean Earth. Because the Notes were issued prior to completion of the Clean Earth acquisition, the bridge financing commitments were not utilized. Short-term borrowings amounted to $3.6 million and $10.1 million at December 31, 2019 and 2018 , respectively. At December 31, 2019 and 2018 , Short-term borrowings consist primarily of bank overdrafts and other third-party debt. The weighted-average interest rate for short-term borrowings at December 31, 2019 and 2018 was 5.6% and 3.0% |
Leases
Leases | 12 Months Ended |
Dec. 31, 2019 | |
Leases [Abstract] | |
Leases | Leases The components of lease expense were as follows: Year Ended (In thousands) December 31 Finance leases: Amortization expense $ 1,234 Interest on lease liabilities 50 Operating leases 16,083 Short-term leases 22,281 Variable lease expense 1,189 Sublease income (198 ) Total lease expense from continuing operations $ 40,639 Supplemental cash flow information related to leases was as follows: Year Ended (In thousands) December 31 Cash paid for amounts included in the measurement of lease liabilities: Cash flows from operating activities - Operating leases $ 15,143 Cash flows from financing activities - Finance leases 1,317 Right-of-use assets obtained in exchange for lease obligations: Operating leases (a) $ 65,525 Finance leases 2,658 (a) Includes ROU assets of approximately $34 million that were recorded upon adoption at January 1, 2019 and $25.8 million that were recorded upon the acquisition of Clean Earth. See Note 2, Recently Adopted and Recently Issued Accounting Standards, and Note 3, Acquisitions and Dispositions, for additional information. Supplemental balance sheet information related to leases was as follows: (In thousands) December 31 Operating Leases: Operating lease right-of-use assets $ 52,065 Current portion of operating lease liabilities 12,544 Operating lease liabilities 36,974 Finance Leases: Property, plant and equipment, net $ 3,519 Current maturities of long-term debt 1,237 Long-term debt 2,218 Supplemental additional information related to leases is as follows: December 31 Other information: Weighted average remaining lease term - Operating leases (in years) 11.57 Weighted average remaining lease term - Finance leases (in years) 4.01 Weighted average discount rate - Operating leases 6.3 % Weighted average discount rate - Finance leases 4.2 % Maturities of lease liabilities were as follows: (In thousand) Operating Leases Finance Leases Year Ending December 31 st : 2020 $ 15,045 $ 1,360 2021 11,159 908 2022 7,166 655 2023 5,044 477 2024 2,991 312 After 2024 31,932 3 Total lease payments 73,337 3,715 Less: Imputed interest (23,819 ) (260 ) Total $ 49,518 $ 3,455 As previously disclosed, under then in effect lease accounting in accordance with U.S. GAAP, future minimum payments under operating leases with noncancelable terms were as follows as of December 31, 2018 : (In thousands) 2019 $ 10,761 2020 8,938 2021 6,235 2022 4,602 2023 3,083 After 2023 17,170 The Company's leases, excluding short-term leases, have remaining terms of less than one year to 30.8 years, some of which include options to extend for up to 10 years, and some of which include options to terminate within one year. As of December 31, 2019 , the Company had no material operating leases that had not yet commenced. There are no material residual value guarantees or material restrictive covenants in any of the Company's leases. |
Leases | Leases The components of lease expense were as follows: Year Ended (In thousands) December 31 Finance leases: Amortization expense $ 1,234 Interest on lease liabilities 50 Operating leases 16,083 Short-term leases 22,281 Variable lease expense 1,189 Sublease income (198 ) Total lease expense from continuing operations $ 40,639 Supplemental cash flow information related to leases was as follows: Year Ended (In thousands) December 31 Cash paid for amounts included in the measurement of lease liabilities: Cash flows from operating activities - Operating leases $ 15,143 Cash flows from financing activities - Finance leases 1,317 Right-of-use assets obtained in exchange for lease obligations: Operating leases (a) $ 65,525 Finance leases 2,658 (a) Includes ROU assets of approximately $34 million that were recorded upon adoption at January 1, 2019 and $25.8 million that were recorded upon the acquisition of Clean Earth. See Note 2, Recently Adopted and Recently Issued Accounting Standards, and Note 3, Acquisitions and Dispositions, for additional information. Supplemental balance sheet information related to leases was as follows: (In thousands) December 31 Operating Leases: Operating lease right-of-use assets $ 52,065 Current portion of operating lease liabilities 12,544 Operating lease liabilities 36,974 Finance Leases: Property, plant and equipment, net $ 3,519 Current maturities of long-term debt 1,237 Long-term debt 2,218 Supplemental additional information related to leases is as follows: December 31 Other information: Weighted average remaining lease term - Operating leases (in years) 11.57 Weighted average remaining lease term - Finance leases (in years) 4.01 Weighted average discount rate - Operating leases 6.3 % Weighted average discount rate - Finance leases 4.2 % Maturities of lease liabilities were as follows: (In thousand) Operating Leases Finance Leases Year Ending December 31 st : 2020 $ 15,045 $ 1,360 2021 11,159 908 2022 7,166 655 2023 5,044 477 2024 2,991 312 After 2024 31,932 3 Total lease payments 73,337 3,715 Less: Imputed interest (23,819 ) (260 ) Total $ 49,518 $ 3,455 As previously disclosed, under then in effect lease accounting in accordance with U.S. GAAP, future minimum payments under operating leases with noncancelable terms were as follows as of December 31, 2018 : (In thousands) 2019 $ 10,761 2020 8,938 2021 6,235 2022 4,602 2023 3,083 After 2023 17,170 The Company's leases, excluding short-term leases, have remaining terms of less than one year to 30.8 years, some of which include options to extend for up to 10 years, and some of which include options to terminate within one year. As of December 31, 2019 , the Company had no material operating leases that had not yet commenced. There are no material residual value guarantees or material restrictive covenants in any of the Company's leases. |
Leases | Leases The components of lease expense were as follows: Year Ended (In thousands) December 31 Finance leases: Amortization expense $ 1,234 Interest on lease liabilities 50 Operating leases 16,083 Short-term leases 22,281 Variable lease expense 1,189 Sublease income (198 ) Total lease expense from continuing operations $ 40,639 Supplemental cash flow information related to leases was as follows: Year Ended (In thousands) December 31 Cash paid for amounts included in the measurement of lease liabilities: Cash flows from operating activities - Operating leases $ 15,143 Cash flows from financing activities - Finance leases 1,317 Right-of-use assets obtained in exchange for lease obligations: Operating leases (a) $ 65,525 Finance leases 2,658 (a) Includes ROU assets of approximately $34 million that were recorded upon adoption at January 1, 2019 and $25.8 million that were recorded upon the acquisition of Clean Earth. See Note 2, Recently Adopted and Recently Issued Accounting Standards, and Note 3, Acquisitions and Dispositions, for additional information. Supplemental balance sheet information related to leases was as follows: (In thousands) December 31 Operating Leases: Operating lease right-of-use assets $ 52,065 Current portion of operating lease liabilities 12,544 Operating lease liabilities 36,974 Finance Leases: Property, plant and equipment, net $ 3,519 Current maturities of long-term debt 1,237 Long-term debt 2,218 Supplemental additional information related to leases is as follows: December 31 Other information: Weighted average remaining lease term - Operating leases (in years) 11.57 Weighted average remaining lease term - Finance leases (in years) 4.01 Weighted average discount rate - Operating leases 6.3 % Weighted average discount rate - Finance leases 4.2 % Maturities of lease liabilities were as follows: (In thousand) Operating Leases Finance Leases Year Ending December 31 st : 2020 $ 15,045 $ 1,360 2021 11,159 908 2022 7,166 655 2023 5,044 477 2024 2,991 312 After 2024 31,932 3 Total lease payments 73,337 3,715 Less: Imputed interest (23,819 ) (260 ) Total $ 49,518 $ 3,455 As previously disclosed, under then in effect lease accounting in accordance with U.S. GAAP, future minimum payments under operating leases with noncancelable terms were as follows as of December 31, 2018 : (In thousands) 2019 $ 10,761 2020 8,938 2021 6,235 2022 4,602 2023 3,083 After 2023 17,170 The Company's leases, excluding short-term leases, have remaining terms of less than one year to 30.8 years, some of which include options to extend for up to 10 years, and some of which include options to terminate within one year. As of December 31, 2019 , the Company had no material operating leases that had not yet commenced. There are no material residual value guarantees or material restrictive covenants in any of the Company's leases. |
Employee Benefit Plans
Employee Benefit Plans | 12 Months Ended |
Dec. 31, 2019 | |
Retirement Benefits [Abstract] | |
Employee Benefit Plans | Employee Benefit Plans Pension Benefits The Company has defined benefit pension plans covering a substantial number of employees. The defined benefits for salaried employees generally are based on years of service and the employee's level of compensation during specified periods of employment. Defined benefit pension plans covering hourly employees generally provide benefits of stated amounts for each year of service. The multiemployer pension plans ("MEPPs"), in which the Company participates, provide benefits to certain unionized employees. The Company's funding policy for qualified plans is consistent with statutory regulations and customarily equals the amount deducted for income tax purposes. Periodic voluntary contributions are made, as recommended, by the Company's Pension Committee. For most U.S. defined benefit pension plans and a majority of international defined benefit pension plans, accrued service is no longer granted. In place of these plans, the Company has established defined contribution plans providing for the Company to contribute a specified matching amount for participating employees' contributions to the plan. For U.S. employees, this match is made on employee contributions up to 4% of eligible compensation. Additionally, the Company may provide a discretionary contribution for eligible employees. There have been no discretionary contributions provided for the years 2019 , 2018 and 2017 . For non-U.S. employees, this match is up to 6% of eligible compensation with an additional 2% going towards insurance and administrative costs. NPPC for U.S. and international plans for 2019 , 2018 and 2017 is as follows: U.S. Plans International Plans (In thousands) 2019 2018 2017 2019 2018 2017 Defined benefit pension plans: Service cost $ 39 $ 42 $ 43 $ 1,447 $ 1,669 $ 1,724 Interest cost 10,551 9,562 9,878 22,280 21,589 21,459 Expected return on plan assets (10,297 ) (12,068 ) (10,485 ) (37,430 ) (42,685 ) (40,469 ) Recognized prior service costs — 1 33 326 (140 ) 186 Recognized losses 5,585 5,207 5,701 14,345 14,807 16,283 Settlement/curtailment loss (gain) 129 285 — 19 (36 ) (20 ) Defined benefit pension plan cost (income) 6,007 3,029 5,170 987 (4,796 ) (837 ) Multiemployer pension plans 727 686 650 1,167 1,313 1,306 Defined contribution plans 4,178 3,466 3,021 6,031 5,608 5,905 Net periodic pension cost $ 10,912 $ 7,181 $ 8,841 $ 8,185 $ 2,125 $ 6,374 The change in the financial status of the defined benefit pension plans and amounts recognized on the Consolidated Balance Sheets at December 31, 2019 and 2018 are as follows: U.S. Plans International Plans (In thousands) 2019 2018 2019 2018 Change in benefit obligation: Benefit obligation at beginning of year $ 286,027 $ 314,861 $ 874,679 $ 1,015,586 Service cost 39 42 1,447 1,669 Interest cost 10,551 9,562 22,280 21,589 Plan participants' contributions — — 36 49 Amendments — — 1,254 11,238 Actuarial (gain) loss 20,064 (21,474 ) 93,330 (78,658 ) Settlements/curtailments — — (343 ) (313 ) Benefits paid (15,842 ) (16,964 ) (37,396 ) (37,721 ) Effect of foreign currency — — 33,010 (58,760 ) Acquisitions/divestitures (6,146 ) — (9 ) — Benefit obligation at end of year $ 294,693 $ 286,027 $ 988,288 $ 874,679 U.S. Plans International Plans (In thousands) 2019 2018 2019 2018 Change in plan assets: Fair value of plan assets at beginning of year $ 205,388 $ 229,941 $ 744,538 $ 842,717 Actual return on plan assets 37,665 (17,883 ) 108,235 (30,004 ) Employer contributions 8,306 10,294 21,121 18,415 Plan participants' contributions — — 36 49 Settlements/curtailments — — (343 ) (313 ) Benefits paid (15,842 ) (16,964 ) (37,217 ) (37,570 ) Effect of foreign currency — — 28,275 (48,756 ) Acquisitions/divestitures (9,249 ) — (9 ) — Fair value of plan assets at end of year $ 226,268 $ 205,388 $ 864,636 $ 744,538 Funded status at end of year $ (68,425 ) $ (80,639 ) $ (123,652 ) $ (130,141 ) Amounts recognized on the Consolidated Balance Sheets for defined benefit pension plans consist of the following at December 31, 2019 and 2018 : U.S. Plans International Plans December 31 December 31 (In thousands) 2019 2018 2019 2018 Noncurrent assets $ — $ 1,953 $ 987 $ 2,379 Current liabilities 1,980 1,954 697 643 Noncurrent liabilities 64,465 80,638 123,942 131,876 Liabilities of assets held-for-sale 1,980 — — — Accumulated other comprehensive loss 133,806 149,326 415,781 391,849 Amounts recognized in Accumulated other comprehensive loss, for defined benefit pension plans consist of the following at December 31, 2019 and 2018 : U.S. Plans International Plans (In thousands) 2019 2018 2019 2018 Net actuarial loss $ 133,806 $ 149,326 $ 408,709 $ 384,666 Prior service cost — — 7,072 7,183 Total $ 133,806 $ 149,326 $ 415,781 $ 391,849 The estimated amounts that will be amortized from Accumulated other comprehensive loss into defined benefit pension plan NPPC in 2020 are as follows: (In thousands) U.S. Plans International Plans Net actuarial loss $ 5,085 $ 15,137 Prior service cost — 392 Total $ 5,085 $ 15,529 The Company's estimate of expected contributions to be paid in 2020 for the U.S. and international defined benefit plans are $11.2 million and $22.4 million , respectively. Future Benefit Payments The expected benefit payments for defined benefit pension plans over the next ten years are as follows: (In millions) 2020 2021 2022 2023 2024 2025-2029 U.S. Plans $ 25.7 $ 17.5 $ 17.6 $ 17.5 $ 17.4 $ 84.7 International Plans 38.9 39.8 40.2 41.3 42.1 224.8 Net Periodic Pension Cost and Defined Benefit Pension Obligation Assumptions The weighted-average actuarial assumptions used to determine the defined benefit pension plan NPPC for 2019 , 2018 and 2017 were as follows: U.S. Plans December 31 International Plans December 31 Global Weighted-Average December 31 2019 2018 2017 2019 2018 2017 2019 2018 2017 Discount rates 4.2 % 3.5 % 4.0 % 2.9 % 2.6 % 2.8 % 3.2 % 2.8 % 3.1 % Expected long-term rates of return on plan assets 7.3 % 7.3 % 7.3 % 5.5 % 5.6 % 5.9 % 5.9 % 6.0 % 6.2 % The expected long-term rates of return on defined benefit pension plan assets for the 2020 NPPC are 7.0% for the U.S. plans and 5.2% for the international plans. The expected global long-term rate of return on assets for 2020 is 5.6% . The weighted-average actuarial assumptions used to determine the defined benefit pension plan obligations at December 31, 2019 and 2018 were as follows: U.S. Plans International Plans Global Weighted-Average December 31 December 31 December 31 2019 2018 2019 2018 2019 2018 Discount rates 3.2 % 4.2 % 2.1 % 2.9 % 2.4 % 3.2 % Since accrued service is no longer granted to the U.S. defined benefit plans and the majority of the international defined benefit pension plans, the rate of compensation increase did not have a significant impact on the defined benefit pension obligation at December 31, 2019 and 2018 or the defined benefit pension plan NPPC for the years ended 2019, 2018 and 2017. The U.S. discount rate was determined using a yield curve that was produced from a universe containing approximately 1,100 U.S. dollar-denominated, AA-graded corporate bonds, all of which were noncallable (or callable with make-whole provisions) and excluding the 10% of the bonds with the highest deviation from the expected yield and the 10% with the lowest deviation from the expected yield within each duration group. The discount rate was then developed as the level-equivalent rate that would produce the same present value as that using spot rates to discount the projected benefit payments. For international plans, the discount rate is aligned to corporate bond yields in the local markets, normally AA-rated corporations. The process and selection seek to approximate the cash inflows with the timing and amounts of the expected benefit payments. Accumulated Benefit Obligation The accumulated benefit obligation for all defined benefit pension plans at December 31, 2019 and 2018 was as follows: U.S. Plans International Plans December 31 December 31 (In millions) 2019 2018 2019 2018 Accumulated benefit obligation $ 294.7 $ 286.0 $ 982.7 $ 869.4 Defined Benefit Pension Plans with Accumulated Benefit Obligation in Excess of Plan Assets The projected benefit obligation, accumulated benefit obligation and fair value of plan assets for defined benefit pension plans with accumulated benefit obligations in excess of plan assets at December 31, 2019 and 2018 were as follows: U.S. Plans International Plans December 31 December 31 (In millions) 2019 2018 2019 2018 Projected benefit obligation $ 294.7 $ 279.2 $ 966.3 $ 831.7 Accumulated benefit obligation 294.7 279.2 961.1 828.9 Fair value of plan assets 226.3 196.6 841.9 701.4 The asset allocations attributable to the Company's U.S. defined benefit pension plans at December 31, 2019 and 2018 , and the long-term target allocation of plan assets, by asset category, are as follows: Target Long-Term Allocation Percentage of Plan Assets December 31 U.S. Plans Asset Category 2019 2018 Domestic equity securities 26%-36% 30.8 % 30.6 % International equity securities 20%-30% 25.3 % 22.0 % Fixed income securities 31%-41% 34.8 % 42.9 % Cash and cash equivalents Less than 5% 0.8 % 0.7 % Other (a) 4%-14% 8.3 % 3.8 % (a) Investments within this caption include diversified global asset allocation funds and credit collection fund. Defined benefit pension plan assets are allocated among various categories of equities, fixed income securities and cash and cash equivalents with professional investment managers whose performance is actively monitored. The primary investment objective is long-term growth of assets in order to meet present and future benefit obligations. The Company periodically conducts an asset/liability modeling study and accordingly adjusts investments among and within asset categories to ensure the long-term investment strategy is aligned with the profile of benefit obligations. The Company reviews the long-term expected return on asset assumption on a periodic basis taking considering variety of factors including the historical investment returns achieved over a long-term period, the targeted allocation of plan assets and future expectations based on a model of asset returns for an actively managed portfolio. The model simulates 1,000 different capital market results over 20 years . The expected return-on-asset assumption for U.S. defined benefit pension plans for 2020 and 2019 are 7.0% and 7.3% , respectively. The U.S. defined benefit pension plans' assets include 360,000 shares at December 31, 2019 and 450,000 shares at December 31, 2018 of the Company's common stock, valued at $8.3 million and $8.9 million , respectively. These shares represented 3.7% and 4.4% of total U.S. plan assets at December 31, 2019 and 2018 , respectively. The asset allocations attributable to the Company's international defined benefit pension plans at December 31, 2019 and 2018 and the long-term target allocation of plan assets, by asset category, are as follows: International Plans Asset Category Target Long-Term Allocation Percentage of Plan Assets December 31 2019 2018 Equity securities 29.0 % 31.6 % 29.2 % Fixed income securities 50.0 % 48.5 % 50.7 % Cash and cash equivalents — 0.3 % 0.3 % Other (b) 21.0 % 19.6 % 19.8 % (b) Investments within this caption include diversified growth funds and real estate funds. International defined benefit pension plan assets at December 31, 2019 in the U.K. defined benefit pension plan amounted to approximately 95% of the international defined benefit pension plan assets. The U.K. plan assets are allocated among various categories of equities, fixed income securities and cash and cash equivalents with professional investment managers whose performance is actively monitored. The primary investment objective is long-term growth of assets in order to meet present and future benefit obligations. The Company periodically conducts asset/liability modeling studies and accordingly adjusts investment amounts within asset categories to ensure the long-term investment strategy is aligned with the profile of benefit obligations. For the international long-term rate of return assumption, the Company considered the current level of expected returns in risk-free investments (primarily government bonds); the historical level of the risk premium associated with other asset classes in which the portfolio is invested; and the expectations for future returns of each asset class and plan expenses. The expected return for each asset class was then weighted based on the target asset allocation to develop the expected long-term rate of return on assets. The expected return on asset assumption for the U.K. plan at December 31, 2019 is 5.2% and 5.5% at December 31, 2018. The remaining international defined benefit pension plans, with plan assets representing approximately 5% of the international defined benefit pension plan assets, are under the guidance of professional investment managers and have similar investment objectives. The fair values of the Company's U.S. defined benefit pension plans' assets at December 31, 2019 by asset class are as follows: (In thousands) Total Level 1 Investments Valued at Net Asset Value (c) Domestic equities: Common stocks $ 8,285 $ 8,285 $ — Mutual funds—equities 61,346 61,346 — International equities: Mutual funds—equities 57,188 57,188 — Fixed income investments: Mutual funds—bonds 78,685 78,685 — Other—mutual funds 8,764 8,764 — Cash and money market accounts 1,816 1,816 — Other—partnerships/joint ventures 10,184 — 10,184 Total $ 226,268 $ 216,084 $ 10,184 (c) Certain investments that are measured at fair value using the Net Asset Value per share (or its equivalent) as a practical expedient have not been classified in the fair value hierarchy. The fair values of the Company's U.S. defined benefit pension plans' assets at December 31, 2018 by asset class are as follows: (In thousands) Total Level 1 Investments Valued at Net Asset Value Domestic equities: Common stocks $ 8,937 $ 8,937 $ — Mutual funds—equities 54,002 54,002 — International equities: Mutual funds—equities 45,195 45,195 — Fixed income investments: Mutual funds—bonds 88,107 88,107 — Other—mutual funds 7,703 7,703 — Cash and money market accounts 1,444 1,444 — Total $ 205,388 $ 205,388 $ — The fair values of the Company's international defined benefit pension plans' assets at December 31, 2019 by asset class are as follows: (In thousands) Total Level 1 Level 2 Equity securities: Mutual funds—equities $ 273,568 $ — $ 273,568 Fixed income investments: Mutual funds—bonds 413,249 — 413,249 Insurance contracts 5,705 — 5,705 Other: Other mutual funds 169,886 — 169,886 Cash and money market accounts 2,228 2,228 — Total $ 864,636 $ 2,228 $ 862,408 The fair values of the Company's international defined benefit pension plans' assets at December 31, 2018 by asset class are as follows: (In thousands) Total Level 1 Level 2 Equity securities: Mutual funds—equities $ 217,321 $ — $ 217,321 Fixed income investments: Mutual funds—bonds 372,094 — 372,094 Insurance contracts 5,620 5,620 Other: Other mutual funds 147,313 — 147,313 Cash and money market accounts 2,190 2,190 — Total $ 744,538 $ 2,190 $ 742,348 Following is a description of the valuation methodologies used for the defined benefit pension plans' investments measured at fair value: • Level 1 Fair Value Measurements—Investments in interest-bearing cash are stated at cost, which approximates fair value. The fair values of money market accounts and certain mutual funds are based on quoted net asset values of the shares held by the plan at year-end. The fair values of domestic and international stocks and corporate bonds, notes and convertible debentures are valued at the closing price reported in the active market on which the individual securities are traded. • Level 2 Fair Value Measurements—The fair values of investments in mutual funds for which quoted net asset values in an active market are not available are valued by the investment advisor based on the current market values of the underlying assets of the mutual fund based on information reported by the investment consistent with audited financial statements of the mutual fund. Further information concerning these mutual funds may be obtained from their separate audited financial statements. Investments in U.S. Treasury notes and collateralized securities are valued based on yields currently available on comparable securities of issuers with similar credit ratings. Multiemployer Pension Plans The Company, through the Harsco Environmental Segment, contributes to several MEPPs under the terms of collective-bargaining agreements that cover union-represented employees, many of whom are temporary in nature. The Company's total contributions to MEPPs were $1.9 million , $2.0 million and $2.0 million for the years ended December 31, 2019 , 2018 and 2017 |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2019 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income Taxes Current income tax expense represents the amounts expected to be reported on the Company's income tax returns, and deferred income tax expense or benefit represents the change in net deferred tax assets and liabilities. Deferred tax assets and liabilities are determined based on the difference between the financial statement and tax bases of assets and liabilities as measured by the enacted income tax rates that will be in effect when these differences reverse. Valuation allowances are recorded as appropriate to reduce deferred tax assets to the amount considered more likely than not to be realized. On December 22, 2017, the Tax Act was signed into law. The Tax Act significantly changed U.S. tax law by, among other things, lowering corporate income tax rates, implementing a territorial tax system and imposing a repatriation tax on deemed repatriated earnings of foreign subsidiaries. The Tax Act permanently reduced the U.S. corporate income tax rate from a maximum of 35% to a 21% rate, effective January 1, 2018. Included in the Tax Act were the global intangible low-taxed income ("GILTI") provisions. The Company elected to account for GILTI tax in the period in which it is incurred. The GILTI provisions require the Company to include in its U.S. income tax return foreign subsidiary earnings in excess of an allowable return on the foreign subsidiary's tangible assets. Income (loss) from continuing operations before income taxes and equity income as reported on the Consolidated Statements of Operations consists of the following: (In thousands) 2019 2018 2017 U.S. $ (13,934 ) $ 28,281 $ (9,235 ) International 70,405 85,368 84,637 Total income (loss) from continuing operations before income taxes and equity income $ 56,471 $ 113,649 $ 75,402 Income tax expense as reported on the Consolidated Statements of Operations consists of the following: (In thousands) 2019 2018 2017 Income tax expense (benefit): Currently payable: U.S. federal $ 903 $ (7 ) $ 654 U.S. state 233 177 54 International 23,775 17,127 19,763 Total income taxes currently payable 24,911 17,297 20,471 Deferred U.S. federal (5,924 ) 1,854 46,372 Deferred U.S. state (1,303 ) (10,911 ) 1,121 Deferred international 2,530 (2,741 ) 10,226 Total income tax expense from continuing operations $ 20,214 $ 5,499 $ 78,190 Cash payments for income taxes were $115.6 million , $26.8 million and $24.9 million for 2019 , 2018 and 2017 , respectively. The increase in cash payments for 2019 primarily relates to payments associated with the gain on the sale of AXC. A reconciliation of the normal expected statutory U.S. federal income tax expense (benefit) to the actual Income tax expense from continuing operations as reported on the Consolidated Statements of Operations is as follows: (In thousands) 2019 2018 2017 U.S. federal income tax expense $ 11,859 $ 23,866 $ 26,391 U.S. state income taxes, net of federal income tax benefit (274 ) 566 642 U.S. other domestic deductions and credits (1,322 ) (2,407 ) (364 ) Difference in effective tax rates on international earnings and remittances 9,550 5,394 647 Uncertain tax position contingencies and settlements 310 (1,180 ) (1,518 ) Changes in realization on beginning of the year deferred tax assets 2,343 (6,937 ) 1,983 U.S. non-deductible expenses 2,554 1,128 609 Impact of U.S. tax reform 1,643 (11,686 ) 49,811 State deferred tax rate change (3,353 ) — 623 Foreign derived intangible income deduction — (2,366 ) — Employee share-based payments (3,064 ) (736 ) (346 ) Other, net (32 ) (143 ) (288 ) Total income tax expense from continuing operations $ 20,214 $ 5,499 $ 78,190 At December 31, 2019 , 2018 and 2017 , the Company's annual effective income tax rate on income from continuing operations was 35.8% , 4.8% and 103.7% , respectively. The Company’s international income from continuing operations before income taxes and equity income (loss) was $70.4 million and $85.4 million for 2019 and 2018, respectively. In 2018, the Company recorded an $8.3 million income tax benefit in the second quarter of 2018 arising from the adjustment to certain existing deferred tax asset valuation allowances as the result of the Altek acquisition. The Company's total international income tax expense increased from $14.4 million in 2018 to $26.3 million in 2019 primarily due to the Altek adjustment in 2018 not recurring in 2019, the change in mix of income and withholding taxes on remitted earnings. The Company’s differences in effective income tax rates for 2019 and 2018 on international earnings and remittances was $9.6 million and $5.4 million , respectively, which included U.S income tax expense on international deemed remittances of $1.0 million and $3.5 million respectively. This increase is primarily due to the change in mix of income and withholding taxes on remitted earnings. The Company's U.S. income from continuing operations before income taxes and equity income was a $13.9 million loss for 2019 and $28.3 million of income for 2018. In 2018, the Company finalized the impact of the Tax Act and recognized a $11.7 million income tax benefit because of the change in expected realization of foreign tax credit and state net operating loss carryforwards ("NOLs"). The Company's total U.S. income tax benefit decreased from $8.9 million in 2018 to $6.1 million in 2019 primarily due to the impact of the Tax Act in 2018 and the foreign derived intangible income deduction not recurring in 2019, partially offset by decreased U.S. income from continuing operations, and the increased income tax benefit recognized for the stock grants vested in 2019. The income tax effects of the temporary differences giving rise to the Company's deferred tax assets and liabilities at December 31, 2019 and 2018 are as follows: 2019 2018 (In thousands) Asset Liability Asset Liability Depreciation and amortization (a) $ — $ 58,229 $ — $ 8,714 Expense accruals 18,421 — 18,827 — Inventories 4,568 — 3,071 — Provision for receivables 1,109 — 689 — Deferred revenue — 3,222 — 3,122 Operating loss carryforwards 85,378 — 81,755 — Foreign tax credit carryforwards 24,219 — 25,814 — Capital loss carryforwards — — 9,759 — Pensions 38,766 — 40,442 — Currency adjustments 462 — 3,796 — Deferred financing costs — 566 — 2,226 Post-retirement benefits 411 — 471 — Stock based compensation 6,572 — 5,832 — Other — 769 5,477 — Subtotal 179,906 62,786 195,933 14,062 Valuation allowance (127,074 ) — (137,450 ) — Total deferred income taxes $ 52,832 $ 62,786 $ 58,483 $ 14,062 (a) The increase in 2019 is primarily related to the Clean Earth acquisition. See Note 3, Acquisitions and Dispositions, for additional information. The deferred tax asset and liability balances recognized on the Consolidated Balance Sheets at December 31, 2019 and 2018 are as follows: (In thousands) 2019 2018 Deferred income tax assets $ 14,288 $ 48,551 Other liabilities 24,242 4,130 At December 31, 2019 , the tax-effected amount of NOLs totaled $85.4 million . Tax-effected NOLs from international operations are $66.5 million . Of that amount, $57.0 million can be carried forward indefinitely and $9.5 million will expire at various times between 2020 and 2040. Tax-effected U.S. state NOLs are $12.9 million . Of that amount, $3.3 million expire at various times between 2020 and 2024, $1.9 million expire at various times between 2025 and 2029, $3.2 million expire at various times between 2030 and 2034 and $4.5 million expire at various times between 2035 and 2039. At December 31, 2019 , the tax-effected amount of U.S. Federal NOLs totaled $6.0 million which can be carried forward indefinitely. Valuation allowances of $127.1 million and $137.5 million at December 31, 2019 and 2018 , respectively, related principally to deferred tax assets for pension liabilities, NOLs, foreign tax credit carryforwards, capital loss carryforwards and foreign currency translation that are uncertain as to realizability. In 2019, the Company recorded a valuation allowance reduction of $12.5 million related to capital loss carryforwards, foreign tax credit carryforwards and state net operating loss carryforwards due to the losses and foreign tax credit carryforwards being utilized to reduce the tax liabilities on the capital gain realized as a result of the sale of AXC and PK. In addition, the Company recorded a valuation allowance reduction (and corresponding reduction to deferred tax assets) of $5.6 million due to the merger and liquidation of certain foreign dormant entities resulting in the loss of certain tax attributes, offset by a net increase of $7.9 million related to losses in certain jurisdictions where the Company determined that it is more likely than not that these assets will not be realized. In 2018, the Company finalized the impact of the Tax Act and reduced the provisional valuation allowance by $15.2 million because of the expected realization of foreign tax credits and state NOLs. In addition, the U.K. valuation allowance was reduced by $13.6 million as a result of the Altek acquisition and a change in estimate of interest deductions. The Company recorded a valuation allowance reduction of $8.7 million from the effects of foreign currency translation adjustments, partially offset by the net increase related to losses in certain jurisdictions where the Company determined that it is more likely than not that these assets will not be realized. The Tax Act introduced a transition tax and a territorial tax system, which was effective beginning in 2018. The territorial tax system impacts the Company's overall global capital and legal entity structure, working capital, and repatriation plan on a go-forward basis. The Company asserts that all foreign earnings will be indefinitely reinvested to the extent of local needs and earnings that would be distributed in a taxable manner. The Company therefore intends to limit distributions to earnings previously taxed in the U.S., or earnings that would qualify for the 100 percent dividends received deduction provided for in the Tax Act, and earnings that would not result in any significant foreign taxes. Therefore, the Company has not recognized a deferred tax liability on its investment in foreign subsidiaries. The Company recognizes accrued interest and penalty expense related to unrecognized income tax benefits in income tax expense. The Company recognized an income tax expense of $0.3 million during 2019 and an income tax benefit of $0.2 million during 2018 for interest and penalties primarily due to the expiration of statutes of limitation and resolution of examinations. The Company did not recognize any income tax expense or benefit for interest and penalties during 2017. The Company has accrued $1.2 million , $0.9 million and $1.1 million for the payment of interest and penalties at December 31, 2019 , 2018 and 2017 , respectively. A reconciliation of the change in the unrecognized income tax benefits balance from January 1, 2017 to December 31, 2019 is as follows: (In thousands) Unrecognized Income Tax Benefits Deferred Income Tax Benefits Unrecognized Income Tax Benefits, Net of Deferred Income Tax Benefits Balances, January 1, 2017 $ 4,582 $ (30 ) $ 4,552 Additions for tax positions related to the current year (includes currency translation adjustment) 658 (2 ) 656 Other reductions for tax positions related to prior years (321 ) — (321 ) Statutes of limitation expirations (1,296 ) 1 (1,295 ) Balance at December 31, 2017 3,623 (31 ) 3,592 Additions for tax positions related to the current year (includes currency translation adjustment) 196 (1 ) 195 Statutes of limitation expirations (1,397 ) 6 (1,391 ) Balance at December 31, 2018 2,422 (26 ) 2,396 Additions for tax positions related to the current year (includes currency translation adjustment) 414 (7 ) 407 Additions for tax positions related to prior years (includes currency translation adjustment) 681 — 681 Statutes of limitation expirations (326 ) 2 (324 ) Settlements (62 ) 9 (53 ) Total unrecognized income tax benefits that, if recognized, would impact the effective income tax rate at December 31, 2019 $ 3,129 $ (22 ) $ 3,107 Within the next twelve months, it is reasonably possible that up to $0.3 million of unrecognized income tax benefits will be recognized upon settlement of income tax examinations and the expiration of various statutes of limitations. The Company files income tax returns as prescribed by the tax laws of the jurisdictions in which it operates. With few exceptions, the Company is no longer subject to U.S and international income tax examinations by tax authorities through 2013. |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies Environmental The Company is involved in a number of environmental remediation investigations and cleanups and, along with other companies, has been identified as a "potentially responsible party" for certain byproduct disposal sites. While each of these matters is subject to various uncertainties, it is probable that the Company will agree to make payments toward funding certain of these activities and it is possible that some of these matters will be decided unfavorably to the Company. The Company has evaluated its potential liability, and its financial exposure is dependent upon such factors as the continuing evolution of environmental laws and regulatory requirements, the availability and application of technology, the allocation of cost among potentially responsible parties, the years of remedial activity required and the remediation methods selected. Other than set forth herein, the Company did not have any material accruals or record any material expenses related to environmental matters during the periods presented. The Company evaluates its liability for future environmental remediation costs on a quarterly basis. Although actual costs to be incurred at identified sites in future periods may vary from the estimates (given inherent uncertainties in evaluating environmental exposures), the Company does not expect that any costs that are reasonably possible to be incurred by the Company in connection with environmental matters in excess of the amounts accrued would have a material adverse effect on the Company's financial condition, results of operations or cash flows. As previously disclosed, the Company has had ongoing meetings with the Supreme Council for Environment in Bahrain (“SCE”) over processing a byproduct (“salt cakes”) stored at the Al Hafeerah site. The Company’s Bahrain operations that produced the salt cakes has ceased operations and are owned under a strategic venture for which its strategic venture partner owns a 35% minority interest. An Environmental Impact Assessment and Technical Feasibility Study were approved by the SCE during the first quarter of 2018. The Company is constructing facilities to process the salt cakes, and the Company currently expects those facilities to come online in 2020. The Company has previously established a reserve of $7.0 million , which represents the Company's best estimate of the ultimate costs to be incurred to resolve this matter. The Company continues to evaluate this reserve and any future change in estimated costs could be material to the Company’s results of operations in any one period. On July 27, 2018, Brazil’s Federal and Rio de Janeiro State Public Prosecution Offices (MPF and MPE) filed a Civil Public Action against one of the Company's customers (CSN), the Company’s Brazilian subsidiary, the Municipality of Volta Redonda, Brazil, and the Instituto Estadual do Ambiente (local environmental protection agency) seeking the implementation of various measures to limit and reduce the accumulation of customer-owned slag at the site in Brazil. On August 6, 2018, the 3rd Federal Court in Volta Redonda granted the MPF and MPE an injunction against the same parties requiring, among other things, CSN and the Company’s Brazilian subsidiary to limit the volume of slag sent to the site. Because the customer owns the site and the slag located on the site, the Company believes that complying with this injunction is the steel producer’s responsibility. On March 18, 2019, the Court issued an order fining the Company 5,000 Brazilian reais per day (or approximately $1,300 per day) and CSN 20,000 Brazilian reais per day until the requirements of the injunction are met. On November 1, 2019, the Court issued an additional order increasing the fines assessed to the Company to 25,000 Brazilian reais per day (or approximately $6,000 per day) and raising the fines assessed to CSN to 100,000 Brazilian reais per day (or approximately $25,000 per day). The Court also assessed an additional fine of 10,000,000 Brazilian reais (or approximately $2.5 million ) against CSN and the Company jointly. The Company is appealing the fines and the underlying injunction. Both the Company and CSN continue to have discussions with the governmental authorities on the injunction and the possible resolution of the underlying case. The Company does not believe that a loss relating to this matter is probable or estimable at this point. On October 19, 2018, local environmental authorities issued an enforcement action against the Company concerning the Company’s operations at a customer site in Ijmuiden, Netherlands. The enforcement action alleges violations of the Company’s environmental permit at the site, which restricts the release of any visible dust emissions. The enforcement action ordered the Company to cease all violations of the permit by October 31, 2018. The authorities have issued fines of approximately $0.5 million which the Company has recorded, with the possibility of additional fines for any future violations. The Company is vigorously contesting the enforcement action and fines and is also working with its customer to ensure the control of emissions. The Company has contractual indemnity rights from its customer, should it be required to pay the assessed fines. On June 13, 2019, the Pennsylvania Department of Environmental Protection (“PA DEP”) indicated to the Company and a landowner who received processed slag from the Company that it plans to require action to bring the landowner’s site into compliance and to assess a civil penalty against the Company and the landowner. The Company is working with the landowner and PA DEP to determine the most effective way to address PA DEP’s concerns about the site and has established a $0.4 million reserve, which represents the Company’s best estimate of the costs to bring the landowner's site into compliance. On March 24, 2017, the Allegheny County Health Department issued a notice of violation against the Company concerning the Company’s operations at a customer site in Natrona, Pennsylvania. On January 21, 2020, the Company paid $107,020 to settle the civil penalties accrued up to that date. It is possible the Company could incur additional penalties for future violations. The Company and its customer continue to consider possible avenues for potential resolution of the matter. Brazilian Tax Disputes The Company is involved in a number of tax disputes with federal, state and municipal tax authorities in Brazil. These disputes are at various stages of the legal process, including the administrative review phase and the collection action phase, and include assessments of fixed amounts of principal and penalties, plus interest charges that increase at statutorily determined amounts per month and are assessed on the aggregate amount of the principal and penalties. In addition, the losing party, at the collection action or court of appeals phase could be subject to a charge to cover statutorily mandated legal fees, which are generally calculated as a percentage of the total assessed amounts due, inclusive of penalty and interest. Many of the claims relate to value-added ("ICMS"), services and social security tax disputes. The largest proportion of the assessed amounts relate to ICMS claims filed by the State Revenue Authorities from the State of São Paulo, Brazil (the "SPRA"), encompassing the period from January 2002 to May 2005. In October 2009, the Company received notification of the SPRA's final administrative decision regarding the levying of ICMS in the State of São Paulo in relation to services provided to a customer in the State between January 2004 and May 2005. As of December 31, 2019 , the principal amount of the tax assessment from the SPRA with regard to this case is approximately $2 million , with penalty, interest and fees assessed to date increasing such amount by an additional $21 million . On June 4, 2018, the Appellate Court of the State of Sao Paulo ruled in favor of the SPRA but ruled that the assessed penalty should be reduced to approximately $2 million . After calculating the interest accrued on the penalty, the Company estimates that this ruling reduces the current overall potential liability for this case to approximately $9 million . The Company has appealed the ruling in favor of the SPRA to the Superior Court of Justice. Due to multiple court precedents in the Company's favor, as well as the Company's ability to appeal, the Company does not believe a loss is probable. Another ICMS tax case involving the SPRA refers to the tax period from January 2002 to December 2003. In December 2018, the administrative tribunal hearing the case upheld the Company's liability. The Company has appealed to the judicial phase. The aggregate amount assessed by the tax authorities in August 2005 was $6.3 million (the amounts with regard to this claim are valued as of the date of the assessment since it has not yet reached the collection phase), composed of a principal amount of $1.5 million , with penalty and interest assessed through that date increasing such amount by an additional $4.8 million . On December 6, 2018, the administrative tribunal reduced the applicable penalties to $1.2 million . After calculating the interest accrued on the current penalty, the Company estimates that the current overall liability for this case to be approximately $12 million . All such amounts include the effect of foreign currency translation. Due to multiple court precedents in the Company's favor the Company does not believe a loss is probable. The Company continues to believe that sufficient coverage for these claims exists as a result of the indemnification obligations of the Company's customer and such customer's pledge of assets in connection with the October 2009 notice, as required by Brazilian law. The Company intends to continue its practice of vigorously defending itself against these tax claims under various alternatives, including judicial appeal. The Company will continue to evaluate its potential liability with regard to these claims on a quarterly basis; however, it is not possible to predict the ultimate outcome of these tax-related disputes in Brazil. No loss provision has been recorded in the Company's consolidated financial statements for the disputes described above because the loss contingency is not deemed probable, and the Company does not expect that any costs that are reasonably possible to be incurred by the Company in connection with Brazilian tax disputes would have a material adverse effect on the Company's financial condition, results of operations or cash flows. Brazilian Labor Disputes The Company is subject to ongoing collective bargaining and individual labor claims in Brazil through the Harsco Environmental Segment which allege, among other things, the Company's failure to pay required amounts for overtime and vacation at certain sites. The Company is vigorously defending itself against these claims; however, litigation is inherently unpredictable, particularly in foreign jurisdictions. While the Company does not currently expect that the ultimate resolution of these claims will have a material adverse effect on the Company’s financial condition, results of operations or cash flows, it is not possible to predict the ultimate outcome of these labor-related disputes. As of December 31, 2019 and 2018 , the Company has established reserves of $6.5 million and $7.1 million , respectively, on the Consolidated Balance Sheets for amounts considered to be probable and estimable. Customer Disputes The Company may, in the normal course of business, become involved in commercial disputes with subcontractors or customers. Although results of operations and cash flows for a given period could be adversely affected by a negative outcome in these or other lawsuits, claims or proceedings, management believes that the ultimate outcome of any ongoing matters will not have a material adverse effect on the Company's financial condition, results of operations or cash flows. Lima Refinery Litigation On April 8, 2016, Lima Refining Company filed a lawsuit against the Company in the District Court of Harris County, Texas related to a January 2015 explosion at an oil refinery operated by Lima Refining Company. In September 2019, the Company and Lima Refining Company agreed to settle the lawsuit for $195 million . The settlement and defense costs were fully covered by insurance. Other The Company is named as one of many defendants (approximately 90 or more in most cases) in legal actions in the U.S. alleging personal injury from exposure to airborne asbestos over the past several decades. In their suits, the plaintiffs have named as defendants, among others, many manufacturers, distributors and installers of numerous types of equipment or products that allegedly contained asbestos. The Company believes that the claims against it are without merit. The Company has never been a producer, manufacturer or processor of asbestos fibers. Any asbestos-containing part of a Company product used in the past was purchased from a supplier and the asbestos encapsulated in other materials such that airborne exposure, if it occurred, was not harmful and is not associated with the types of injuries alleged in the pending actions. At December 31, 2019 , there were approximately 17,142 pending asbestos personal injury actions filed against the Company. Of those actions, approximately 16,595 were filed in the New York Supreme Court (New York County), approximately 117 were filed in other New York State Supreme Court Counties and approximately 430 were filed in courts located in other states. The complaints in most of those actions generally follow a form that contains a standard damages demand of $20 million or $25 million , regardless of the individual plaintiff's alleged medical condition, and without identifying any specific Company product. At December 31, 2019 , approximately 16,550 of the actions filed in New York Supreme Court (New York County) were on the Deferred/Inactive Docket created by the court in December 2002 for all pending and future asbestos actions filed by persons who cannot demonstrate that they have a malignant condition or discernible physical impairment. The remaining approximately 45 cases in New York County are pending on the Active or In Extremis Docket created for plaintiffs who can demonstrate a malignant condition or physical impairment. The Company has liability insurance coverage under various primary and excess policies that the Company believes will be available, if necessary, to substantially cover any liability that might ultimately be incurred in the asbestos actions referred to above. The costs and expenses of the asbestos actions are being paid by the Company’s insurers. In view of the persistence of asbestos litigation in the U.S., the Company expects to continue to receive additional claims in the future. The Company intends to continue its practice of vigorously defending these claims and cases. At December 31, 2019 , the Company has obtained dismissal in approximately 28,227 cases by stipulation or summary judgment prior to trial. It is not possible to predict the ultimate outcome of asbestos-related actions in the U.S. due to the unpredictable nature of this litigation, and no loss provision has been recorded in the Company's consolidated financial statements because a loss contingency is not deemed probable or estimable. Despite this uncertainty, and although results of operations and cash flows for a given period could be adversely affected by asbestos-related actions, the Company does not expect that any costs that are reasonably possible to be incurred by the Company in connection with asbestos litigation would have a material adverse effect on the Company's financial condition, results of operations or cash flows. The Company is subject to various other claims and legal proceedings covering a wide range of matters that arose in the ordinary course of business. In the opinion of management, all such matters are adequately covered by insurance or by established reserves, and, if not so covered, are without merit or are of such kind, or involve such amounts, as would not have a material adverse effect on the financial position, results of operations or cash flows of the Company. Insurance liabilities are recorded when it is probable that a liability has been incurred for a particular event and the amount of loss associated with the event can be reasonably estimated. Insurance reserves have been estimated based primarily upon actuarial calculations and reflect the undiscounted estimated liabilities for ultimate losses, including claims incurred but not reported. Inherent in these estimates are assumptions that are based on the Company's history of claims and losses, a detailed analysis of existing claims with respect to potential value, and current legal and legislative trends. If actual claims differ from those projected by management, changes (either increases or decreases) to insurance reserves may be required and would be recorded through income in the period the change was determined. When a recognized liability is covered by third-party insurance, the Company records an insurance claim receivable to reflect the covered liability. Insurance claim receivables are included in Insurance claim receivable and Other receivables on the Consolidated Balance Sheets. See Note 1, Summary of Significant Accounting Policies, for additional information on Accrued insurance and loss reserves. |
Capital Stock
Capital Stock | 12 Months Ended |
Dec. 31, 2019 | |
Equity [Abstract] | |
Capital Stock | Capital Stock The authorized capital stock of the Company consists of 150,000,000 shares of common stock and 4,000,000 shares of preferred stock, both having a par value of $1.25 per share. The preferred stock is issuable in series with terms as fixed by the Board of Directors (the "Board"). No preferred stock has been issued. The following table summarizes the Company's common stock: Shares Issued Treasury Shares (a) Outstanding Shares Outstanding, January 1, 2017 112,499,874 32,324,911 80,174,963 Shares issued for vested restricted stock units 375,355 105,431 269,924 Stock appreciation rights exercised 12,897 3,932 8,965 Outstanding, December 31, 2017 112,888,126 32,434,274 80,453,852 Shares issued for vested restricted stock units 545,908 161,774 384,134 Stock appreciation rights exercised 39,917 11,808 28,109 Treasury shares purchased — 1,321,072 (1,321,072 ) Outstanding, December 31, 2018 113,473,951 33,928,928 79,545,023 Shares issued for vested restricted stock units 321,965 125,863 196,102 Shares issued for vested performance stock units 908,566 379,353 529,213 Stock appreciation rights exercised 15,865 4,619 11,246 Treasury shares purchased — 1,766,826 (1,766,826 ) Outstanding, December 31, 2019 114,720,347 36,205,589 78,514,758 (a) The Company repurchases shares in connection with the issuance of shares under stock-based compensation programs and in accordance with Board authorized share repurchase programs. The following is a reconciliation of the average shares of common stock used to compute basic earnings per common share to the shares used to compute diluted earnings per common share as shown on the Consolidated Statements of Operations: (In thousands, except per share data) 2019 2018 2017 Income (loss) from continuing operations attributable to Harsco Corporation common stockholders $ 28,231 $ 100,578 $ (6,810 ) Weighted-average shares outstanding—basic 79,632 80,716 80,553 Dilutive effect of stock-based compensation 1,743 2,879 — Weighted-average shares outstanding—diluted 81,375 83,595 80,553 Income (loss) from continuing operations per common share, attributable to Harsco Corporation common stockholders: Basic $ 0.35 $ 1.25 $ (0.08 ) Diluted $ 0.35 $ 1.20 $ (0.08 ) The following average outstanding stock-based compensation units were not included in the computation of diluted earnings per share because the effect was antidilutive: (In thousands) 2019 2018 2017 Restricted stock units — — 934 Stock options — — 52 Stock appreciation rights 491 306 1,737 Performance share units 124 — 948 |
Stock-Based Compensation
Stock-Based Compensation | 12 Months Ended |
Dec. 31, 2019 | |
Share-based Payment Arrangement [Abstract] | |
Stock-Based Compensation | Stock-Based Compensation The 2013 Equity and Incentive Plan as amended (the "2013 Plan") authorizes the issuance of up to 7.8 million shares of the Company's common stock for use in paying incentive compensation awards in the form of stock options or other equity awards such as restricted stock, restricted stock units ("RSUs"), stock appreciation rights ("SARs") or performance share units ("PSUs"). Of the 7.8 million shares authorized, a maximum of 4.6 million shares may be issued for awards other than option rights or SARs, as defined in the 2013 Plan. The 2016 Non-Employee Directors' Long-Term Equity Compensation Plan (the "2016 Plan") authorizes the issuance of up to 400 thousand shares of the Company's common stock for equity awards. Both plans have been approved by the Company's stockholders. At December 31, 2019 , there were 2.6 million shares available for granting equity awards under the 2013 Plan, of which 1.5 million shares were available for awards other than option rights or SARs. At December 31, 2019 , there were 158 thousand shares available for granting equity awards under the 2016 Plan. Restricted Stock Units The Company's Board approves the granting of performance-based RSUs as the long-term equity component of director, officer and certain key employee compensation. The RSUs require no payment from the recipient and compensation cost is measured based on the market price of the Company's common stock on the grant date and is generally recorded over the vesting period. RSUs granted to officers and certain key employees in 2017, 2018 and 2019 either vest on a pro-rata basis over three years or upon obtainment of specified retirement or years of service criteria. The vesting period for RSUs granted to non-employee directors is one year and each RSU is exchanged for an equal number of shares of the Company's common stock upon vesting for awards issued under the 2016 Plan and following the termination of the participant's service as a director under prior plans. RSUs do not have an option for cash payment. The following table summarizes RSUs issued and the compensation expense recorded for the years ended December 31, 2019 , 2018 , and 2017 : RSUs (a) Weighted Average Fair Value Expense (Dollars in thousands, except per unit) 2019 2018 2017 Directors: 2016 109,998 $ 7.00 $ — $ — $ 257 2017 56,203 13.70 — 179 641 2018 43,821 20.54 280 511 — 2019 14,211 25.33 240 — — Employees: 2014 190,832 25.21 — — 295 2015 239,679 16.53 — 193 498 2016 536,773 7.09 290 835 909 2017 286,251 13.70 832 910 1,325 2018 242,791 19.93 1,208 1,546 — 2019 270,864 22.25 1,620 — — Total $ 4,470 $ 4,174 $ 3,925 (a) Represents number of awards originally issued. RSU activity for the year ended December 31, 2019 was as follows: Number of Shares Weighted Average Grant-Date Fair Value Non-vested at December 31, 2018 583,380 $ 15.08 Granted 285,075 22.40 Vested (348,572 ) 13.38 Forfeited (53,274 ) 20.01 Non-vested at December 31, 2019 466,609 20.26 At December 31, 2019 , the total unrecognized compensation expense related to non-vested RSUs was $5.4 million , which will be recognized over a weighted-average period of 1.9 years. Stock Appreciation Rights The Company's Board approves the granting of SARs to officers and certain key employees under the 2013 Plan. The SARs generally vest on a pro-rata three -year basis from the grant date or upon specified retirement or years of service criteria and expire no later than ten years after the grant date. The exercise price of the SARs is equal to the fair value of Harsco common stock on the grant date. Upon exercise, shares of the Company's common stock are issued based on the increase in the fair value of the Company's common stock over the exercise price of the SAR. SARs do not have an option for cash payment. During 2017, the Company issued SARS covering 266,540 shares in March under the 2013 Plan. During 2018, the Company issued SARS covering 221,818 shares in March and 7,622 in July under the 2013 Plan. During 2019, the Company issued SARS covering 216,100 shares in March and 13,244 shares in July under the 2013 Plan. The fair value of each SAR grant was estimated on the grant date using a Black-Scholes pricing model with the following assumptions: Risk-free Interest rate Dividend Yield Expected Life (Years) Volatility SAR Grant Price Fair Value of SAR March 2017 Grant 2.17 % — % 6.0 43.9 % $ 13.70 $ 6.13 March 2018 Grant 2.69 % — % 6.0 44.6 % 19.80 9.16 July 2018 Grant 2.87 % — % 6.0 44.7 % 24.65 11.48 March 2019 Grant 2.52 % — % 6.0 46.2 % 22.51 10.62 July 2019 Grant 1.84 % — % 6.0 47.1 % 27.39 12.80 SARs activity for the year ended December 31, 2019 was as follows: Number of Shares Weighted Average Exercise Price Aggregate Intrinsic Value (in millions) (b) Outstanding, December 31, 2018 1,745,447 $ 15.73 $ 8.9 Granted 229,344 22.79 Exercised (43,594 ) 15.87 Forfeited/Expired (22,977 ) 26.94 Outstanding, December 31, 2019 1,908,220 16.44 13.0 (b) Intrinsic value is defined as the difference between the current market value and the exercise price, for those SARs where the market price exceeds the exercise price. The total intrinsic value of SARs exercised in 2019 and 2018 was $0.3 million and $ 0.5 million respectively. The following table summarizes information concerning outstanding and exercisable SARs at December 31, 2019 : SARs Outstanding SARs Exercisable Range of exercisable prices Vested Non-vested Weighted-Average Exercise Price per Share Weighted-Average Remaining Contractual Life in Years Number Exercisable Weighted-Average Exercise Price per Share $7.00 - $13.70 624,693 83,654 $ 9.42 6.65 624,693 $ 8.85 $16.53 - $22.70 584,950 361,000 19.45 6.60 584,950 18.23 $23.03 - $26.92 248,841 5,082 24.78 4.45 248,841 24.79 1,458,484 449,736 16.44 6.33 1,458,484 15.33 Total compensation expense related to SARs was $1.9 million , $1.8 million and $1.9 million for the years ended December 31, 2019 , 2018 and 2017, respectively. At December 31, 2019, total unrecognized compensation expense related to non-vested SARs was $2.4 million , which will be recognized over a weighted average period of 1.8 years. Weighted-average grant date fair value of non-vested SARs for the year ended December 31, 2019 was as follows: Number of Shares Weighted-Average Grant Date Fair Value Non-vested shares, December 31, 2018 467,478 $ 6.65 Granted 229,344 10.75 Vested (233,842 ) 5.17 Forfeited (13,244 ) 12.80 Non-vested shares, December 31, 2019 449,736 9.32 Performance Share Units The Company's Board approves the granting of PSUs to officers and certain key employees that may be earned based on the Company's total shareholder return over the three -year performance period. PSUs are paid out at the end of each performance period based on the Company’s performance, which is measured by determining the percentile rank of the total shareholder return of the Company's common stock in relation to the total shareholder return of a specific peer group of companies. The peer group of companies utilized is the S&P 600 Industrial Index. The payment of PSUs following the performance period will be based in accordance with the scale set forth in the PSU agreements, and may range from 0% to 200% of the initial grant. PSUs do not have an option for cash payment. During the year ended December 31, 2017, the Company granted 286,251 shares in March under the 2013 Plan. During the year ended December 31, 2018, the Company granted 233,266 shares in March and 6,742 shares in July under the 2013 Plan. During the year ended December 31, 2019, the Company granted 233,112 shares in March, 6,189 shares in July and 38,006 shares in August under the 2013 Plan. The fair value of PSUs granted was estimated on the grant date using a Monte Carlo pricing model with the following assumptions: Risk-free Interest rate Dividend Yield Expected Life (Years) Volatility Fair Value of PSU March 2017 Grant 1.54 % — % 2.83 34.2 % $ 17.05 March 2018 Grant 2.36 % — % 2.83 34.7 % 29.56 July 2018 Grant 2.69 % — % 2.42 33.1 % 39.06 March 2019 Grant 2.48 % — % 2.82 33.8 % 29.04 July 2019 Grant 1.75 % — % 2.50 34.3 % 40.07 August 2019 Grant 1.57 % — % 2.41 34.9 % 23.38 Total compensation expense related to PSUs was $5.1 million , $4.3 million and $3.2 million for the years ended December 31, 2019 , 2018 and 2017 , respectively. At December 31, 2019 , total unrecognized compensation expense related to non-vested PSUs was $6.5 million , which will be recognized over a weighted average period of 1.7 years. A summary of the Company's non-vested PSU activity during the year ending December 31, 2019 was as follows: Number of Shares Weighted-Average Grant Date Fair Value Non-vested shares, December 31, 2018 494,882 $ 23.13 Granted 277,307 28.51 Forfeited (70,391 ) 26.23 Vested, not issued (c) (236,214 ) 17.05 Non-vested shares, December 31, 2019 465,584 28.95 (c) The measurement period for PSUs issued in 2017 ended on December 31, 2019 and these shares vested but will not be issued until the Board certifies the measurement period results in early 2020. A total of 472,428 shares are expected to be issued and have been included in the Company's calculation of diluted weighted average shares at the end of December 31, 2019. |
Financial Instruments
Financial Instruments | 12 Months Ended |
Dec. 31, 2019 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Financial Instruments | Financial Instruments Off-Balance Sheet Risk As collateral for the Company's performance and to insurers, the Company is contingently liable under standby letters of credit, bonds and bank guarantees in the amounts of $281.8 million , $285.4 million and $275.4 million at December 31, 2019 , 2018 and 2017 , respectively. These standby letters of credit, bonds and bank guarantees are generally in force for up to 2 years . Certain issues have no scheduled expiration date. The Company pays fees to various banks and insurance companies that range from 0.4% to 3.7% per annum of the instrument's face value. If the Company were required to obtain replacement standby letters of credit, bonds and bank guarantees at December 31, 2019 for those currently outstanding, it is the Company's opinion that the replacement costs would be within the present fee structure. The Company has currency exposures in approximately 30 countries. The Company's primary foreign currency exposures during 2019 were in the European Union, the U.K., Brazil and China. Off-Balance Sheet Risk—Third-Party Guarantees During June 2014, the Company provided a guarantee to Brand as part of the net working capital settlement related to the Infrastructure Transaction, for certain matters occurring prior to closing. The remaining term of this guarantee is 1 year at December 31, 2019 . The maximum potential amount of future payments related to this guarantee is approximately $3 million at December 31, 2019 . There is no recognition of this potential future payment in the consolidated financial statements as the Company believes the potential for making this payment is remote. Any liabilities related to the Company's obligation to stand ready to act on third-party guarantees are included in Other current liabilities or Other liabilities (as appropriate) on the Consolidated Balance Sheets. Any recognition of these liabilities did not have a material impact on the Company's financial position or results of operations for 2019 , 2018 or 2017 . In the normal course of business, legal indemnifications are provided related primarily to the performance of the Company's products and services and patent and trademark infringement of the products and services sold. These indemnifications generally relate to the performance (regarding function, not price) of the respective products or services and therefore no liability is recognized related to the fair value of such guarantees. Derivative Instruments and Hedging Activities The Company uses derivative instruments, including foreign currency exchange forward contracts, interest rate swaps and cross-currency interest rate swaps ("CCIRs"), to manage certain foreign currency and interest rate exposures. Derivative instruments are viewed as risk management tools by the Company and are not used for trading or speculative purposes. All derivative instruments are recorded on the Consolidated Balance Sheets at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether the Company has elected to designate a derivative in a hedging relationship and apply hedge accounting and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. Derivatives designated and qualifying as a hedge of the exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. Hedge accounting generally provides for the matching of the timing of gain or loss recognition on the hedging instrument with the recognition of the earnings effect of the hedged forecasted transactions in a cash flow hedge. The Company may enter into derivative contracts that are intended to economically hedge certain of its risk, even though hedge accounting does not apply, or the Company elects not to apply hedge accounting. The Company primarily applies the market approach for recurring fair value measurements and endeavors to utilize the best available information. Accordingly, the Company utilizes valuation techniques that maximize the use of observable inputs, such as forward rates, interest rates, the Company’s credit risk and counterparties’ credit risks, and which minimize the use of unobservable inputs. The Company is able to classify fair value balances based on the ability to observe those inputs. Foreign currency exchange forward contracts, interest rate swaps and CCIRs are based upon pricing models using market-based inputs (Level 2). Model inputs can be verified and valuation techniques do not involve significant management judgment. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (an exit price). The Company utilizes market data or assumptions that the Company believes market participants would use in valuing the asset or liability, including assumptions about risk and the risks inherent in the inputs to the valuation technique. The fair value hierarchy distinguishes between (1) market participant assumptions developed based on market data obtained from independent sources (observable inputs), and (2) an entity’s own assumptions about market participant assumptions based on the best information available in the circumstances (unobservable inputs). The fair value hierarchy consists of three broad levels, which give the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy are described below: • Level 1—Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. • Level 2—Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates); and inputs that are derived principally from or corroborated by observable market data by correlation or other means. • Level 3—Inputs that are both significant to the fair value measurement and unobservable. In instances in which multiple levels of inputs are used to measure fair value, hierarchy classification is based on the lowest level input that is significant to the fair value measurement in its entirety. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability. The fair value of outstanding derivative contracts recorded as assets and liabilities on the Consolidated Balance Sheets was as follows: (In thousands) Balance Sheet Location Fair Value of Derivatives Designated as Hedging Instruments Fair Value of Derivatives Not Designated as Hedging Instruments Total Fair Value December 31, 2019 Asset derivatives (Level 2): Foreign currency exchange forward contracts Other current assets $ 2,039 $ 946 $ 2,985 Total $ 2,039 $ 946 $ 2,985 Liability derivatives (Level 2): Foreign currency exchange forward contracts Other current liabilities $ 140 $ 3,733 $ 3,873 Interest rate swaps Other current liabilities 2,098 — 2,098 Interest rate swaps Other liabilities 4,281 — 4,281 Total $ 6,519 $ 3,733 $ 10,252 December 31, 2018 Asset derivatives (Level 2): Foreign currency exchange forward contracts Other current assets $ 2,970 $ 589 $ 3,559 Interest rate swaps Other current assets 1,331 — 1,331 Interest rate swaps Other assets 128 — 128 Total $ 4,429 $ 589 $ 5,018 Liability derivatives (Level 2): Foreign currency exchange forward contracts Other current liabilities $ 24 $ 2,910 $ 2,934 Interest rate swaps Other liabilities 1,849 — 1,849 Total $ 1,873 $ 2,910 $ 4,783 All of the Company's derivatives are recorded on the Consolidated Balance Sheets at gross amounts and not offset. All of the Company's interest rate swaps, CCIRs and certain foreign currency exchange forward contracts are transacted under International Swaps and Derivatives Association ("ISDA") documentation. Each ISDA master agreement permits the net settlement of amounts owed in the event of default. The Company's derivative assets and liabilities subject to enforceable master netting arrangements did not result in a net asset or liability at December 31, 2019 and resulted in a 0.1 million net liability at December 31, 2018 . The effect of derivative instruments on the Consolidated Statements of Operations and the Consolidated Statements of Comprehensive Income (Loss): Derivatives Designated as Hedging Instruments Amount Recognized in Other Comprehensive Income (“OCI”) on Derivatives Location of Amount Reclassified from Accumulated OCI into Income Amount Reclassified from Accumulated OCI into Income - Effective Portion or Equity (In thousands) 2019 2018 2017 2019 2018 2017 Foreign currency exchange forward contracts $ (1,227 ) $ 1,935 $ 3,547 Product revenues/Cost of services sold $ (506 ) $ (374 ) $ (954 ) Foreign currency exchange forward contracts (a) — — — Retained earnings (b) — (1,520 ) — Interest rate swaps — — — Income from discontinued businesses 2,741 — — Interest rate swaps (8,209 ) 1,451 (734 ) Interest expense (520 ) (1,108 ) — Cross-currency interest rate swaps (a) (42 ) 63 (205 ) Interest expense 1,219 1,264 1,002 $ (9,478 ) $ 3,449 $ 2,608 $ 2,934 $ (1,738 ) $ 48 (a) Amounts represent changes in foreign currency translation related to balances in Accumulated other comprehensive loss. (b) The Company adopted the new revenue recognition standard utilizing the modified retrospective transition method, including use of practical expedients in 2018. The location and amount of gain (loss) recognized on the Consolidated Statements of Operations: 2019 (in thousands) Product Revenues Cost of Services Sold Interest Expense Income From Discontinued Businesses Total amounts of line items presented in the statement of operations in which the effects of cash flow hedges are recorded $ 422,269 $ 839,156 $ (36,586 ) $ 27,531 Interest rate swaps: Amount of gain (loss) reclassified from accumulated other comprehensive loss into income — — 520 — Amount of gain (loss) reclassified from accumulated other comprehensive loss into income as a result that a forecasted transaction is no longer probable of occurring — — — (2,741 ) Foreign exchange contracts: Amount of gain (loss) reclassified from accumulated other comprehensive loss into income 550 (44 ) — — Amount excluded from effectiveness testing recognized in earnings based on changes in fair value 509 — — — Cross-currency interest rate swaps: Amount of gain (loss) reclassified from accumulated other comprehensive loss into income — — (1,219 ) — 2018 (in thousands) Product Revenues Cost of Services Sold Interest Expense Total amounts of line items presented in the statement of operations in which the effects of cash flow hedges are recorded $ 392,208 $ 745,748 $ (21,531 ) Interest rate swaps: Amount of gain (loss) reclassified from accumulated other comprehensive loss into income — — 1,108 Foreign exchange contracts: Amount of gain (loss) reclassified from accumulated other comprehensive loss into income 374 — — Amount excluded from effectiveness testing recognized in earnings based on changes in fair value (440 ) 1 — Cross-currency interest rate swaps: Amount of gain (loss) reclassified from accumulated other comprehensive loss into income — — (1,264 ) 2017 (in thousands) Product Revenues Cost of Services Sold Interest Expense Total amounts of line items presented in the statement of operations in which the effects of cash flow hedges are recorded $ 373,188 $ 737,499 $ (26,862 ) Foreign exchange contracts: Amount of gain (loss) reclassified from accumulated other comprehensive loss into income 936 18 — Amount excluded from effectiveness testing recognized in earnings based on changes in fair value (105 ) — — Cross-currency interest rate swaps: Amount of gain (loss) reclassified from accumulated other comprehensive loss into income — — (1,002 ) Amount excluded from the effectiveness testing recognized in earnings based an amortization approach — — (420 ) Derivatives Not Designated as Hedging Instruments Location of Gain (Loss) Recognized in Income on Derivatives Amount of Gain (Loss) Recognized in Income on Derivatives for the Twelve Months Ended December 31(c) (In thousands) 2019 2018 2017 Foreign currency exchange forward contracts Cost of services and products sold $ 6,807 $ 17,262 $ (23,572 ) (c) These gains (losses) offset amounts recognized in cost of service and products sold principally as a result of intercompany or third-party foreign currency exposures. Foreign Currency Exchange Forward Contracts The Company conducts business in multiple currencies and, accordingly, is subject to the inherent risks associated with foreign exchange rate movements. Foreign currency-denominated assets and liabilities are translated into U.S. dollars at the exchange rates existing at the respective balance sheet dates, and income and expense items are translated at the average exchange rates during the respective periods. The Company uses derivative instruments to hedge cash flows related to foreign currency fluctuations. Foreign currency exchange forward contracts outstanding are part of a worldwide program to minimize foreign currency exchange operating income and balance sheet exposure by offsetting foreign currency exposures of certain future payments between the Company and various subsidiaries, suppliers or customers. The unsecured contracts are with major financial institutions. The Company may be exposed to credit loss in the event of non-performance by the contract counterparties. The Company evaluates the creditworthiness of the counterparties and does not expect default by them. Foreign currency exchange forward contracts are used to hedge commitments, such as foreign currency debt, firm purchase commitments and foreign currency cash flows for certain export sales transactions. Changes in the fair value of derivatives used to hedge foreign currency denominated balance sheet items are reported directly in earnings, along with offsetting transaction gains and losses on the items being hedged. Derivatives used to hedge forecasted cash flows associated with foreign currency commitments may be accounted for as cash flow hedges, as deemed appropriate, if the criteria for hedge accounting are met. Gains and losses on derivatives designated as cash flow hedges are deferred in Accumulated other comprehensive loss, a separate component of equity, and reclassified to earnings in a manner that matches the timing of the earnings impact of the hedged transactions. The ineffective portion of all hedges, if any, is recognized currently in earnings. The recognized gains and losses offset amounts recognized in cost of services and products sold principally as a result of intercompany or third-party foreign currency exposures. At December 31, 2019 and December 31, 2018 , the notional amounts of foreign currency exchange forward contracts were $496.3 million and $423.9 million , respectively. These contracts primarily hedge British pounds sterling and euros against other currencies and mature through October 2021 . In addition to foreign currency exchange forward contracts, the Company designates certain loans as hedges of net investments in international subsidiaries. The Company recorded pre-tax net gains of $7.7 million , pre-tax net losses of $9.9 million and pre-tax net gains of $17.4 million related to hedges of net investments during 2019 , 2018 and 2017 , respectively, in Accumulated other comprehensive loss. Interest Rate Swaps The Company uses interest rate swaps in conjunction with certain variable rate debt issuances in order to secure a fixed interest rate. Changes in the fair value attributed to the effect of the swaps’ interest spread and changes in the credit worthiness of the counter-parties are recorded in Accumulated other comprehensive loss. In January 2017 and February 2018, the Company entered into a series of interest rate swaps that cover the period from 2018 through 2022 and had the effect of converting $300.0 million of the Term Loan Facility from floating-rate to fixed-rate. The fixed rates provided by the swaps replace the adjusted LIBOR rate in the interest calculation, ranging from 2.12% for 2018 to 3.12% for 2022. During June 2019, the Company effected the early termination of interest rate swaps that covered the period from 2019 through 2022 and had the effect of converting $100.0 million of the Term Loan Facility from floating-rate to fixed-rate. This termination was conducted as a result of the Company's new Notes offering and required repayment of a portion of the Term Loan Facility with proceeds from the AXC disposal. The Company paid $2.8 million and recognized a loss of $2.7 million related to these terminations in Income from discontinued businesses on the Consolidated Statements of Operations. The total notional of the Company's interest rate swaps was $200.0 million as of December 31, 2019 . Cross-Currency Interest Rate Swaps The Company may use CCIRs in conjunction with certain debt issuances in order to secure a fixed local currency interest rate. Under these CCIRs, the Company receives interest based on a fixed or floating U.S. dollar rate and pays interest on a fixed local currency rate based on the contractual amounts in dollars and the local currency, respectively. At maturity, there is also the payment of principal amounts between currencies. Changes in the fair value attributed to the effect of the swaps' interest spread and changes in the credit worthiness of the counter-parties are recorded in Accumulated other comprehensive loss. Changes in value attributed to the effect of foreign currency fluctuations are recorded in the Consolidated Statements of Operations and offset currency fluctuation effects on the debt principal. The Company had no outstanding CCIRs at December 31, 2019 or December 31, 2018 . Fair Value of Other Financial Instruments The carrying amounts of cash and cash equivalents, accounts receivable, accounts payable, accrued liabilities and short-term borrowings approximate fair value due to the short-term maturities of these assets and liabilities. At December 31, 2019 and 2018 , the total fair value of long-term debt, including current maturities, was $827.2 million and $592.0 million , respectively, compared with a carrying value of $795.0 million and $605.4 million , respectively. Fair values for debt are based upon pricing models using market-based inputs (Level 2) for similar issues or on the current rates offered to the Company for debt of the same remaining maturities. Concentrations of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents and accounts receivable. The Company places cash and cash equivalents with high-quality financial institutions and, by policy, limits the amount of credit exposure to any single institution. Concentrations of credit risk with respect to accounts receivable exist in the Company's Harsco Environmental Segment and, to a lesser extent, the Harsco Rail Segment have several large customers throughout the world with significant accounts receivable balances. Consolidation in the global steel or rail industries could result in an increase in concentration of credit risk for the Company. The Company generally does not require collateral or other security to support customer receivables. If a receivable from one or more of the Company's larger customers becomes uncollectible, it could have a material effect on the Company's results of operations or cash flows. |
Information by Segment and Geog
Information by Segment and Geographic Area | 12 Months Ended |
Dec. 31, 2019 | |
Segment Reporting [Abstract] | |
Information by Segment and Geographic Area | Information by Segment and Geographic Area The Company reports information about operating segments using the "management approach," which is based on the way management organizes and reports the segments within the enterprise for making operating decisions and assessing performance. The Company's reportable segments are identified based upon differences in products, services and markets served. In 2019 , the Company had three reportable segments. These segments and the types of products and services offered include the following: Harsco Environmental The Segment provides environmental services and material processing to the global steel and metals industries. The Segment partners with its global customer base to deliver production-critical on-site operational support and resource recovery services, through management of its customers’ primary waste or byproduct streams. The Segment's services support the metal manufacturing process, generating significant operational and financial efficiencies for its customers and allowing them to focus on their core steelmaking businesses. In addition, this Segment creates value-added downstream products from industrial waste streams. Harsco Clean Earth The Segment is one of the largest specialty waste processing companies in the U.S. providing processing and beneficial reuse solutions for hazardous wastes, contaminated materials, and dredged volumes. Harsco Rail Segment The Segment is a supplier of equipment, after-market parts and services for the construction and maintenance of railway track. The Segment manufactures highly-engineered railway track maintenance equipment and supports a large installed-base of Harsco equipment with a full suite of aftermarket parts. The Segment is a leading supplier of collision avoidance and warning systems to enhance passenger, rail worker, and pedestrian safety, and pioneered a number of measurement and diagnostic technologies that further support railway maintenance programs. Other Information The measurement basis of segment profit or loss is operating income. There are no significant inter-segment sales. Corporate assets, at December 31, 2019 and 2018 , include principally cash, prepaid taxes, fair value of derivative instruments and U.S. deferred income taxes. Countries with revenues from unaffiliated customers or net property, plant and equipment of ten percent or more of the consolidated totals (in at least one period presented) are as follows: Information by Geographic Area (a) Revenues from Unaffiliated Customers Year Ended December 31 (In thousands) 2019 2018 2017 U.S. $ 640,390 $ 458,383 $ 423,888 U.K. 144,689 143,346 146,624 All Other 718,663 745,943 736,958 Totals including Corporate $ 1,503,742 $ 1,347,672 $ 1,307,470 (a) Revenues are attributed to individual countries based on the location of the facility generating the revenue. Property, Plant and Equipment, Net Balances at December 31 (In thousands) 2019 2018 2017 U.S. $ 193,692 $ 98,851 $ 86,266 China 99,369 89,502 95,562 Brazil 37,047 36,960 54,704 All Other 231,678 207,480 208,151 Totals including Corporate $ 561,786 $ 432,793 $ 444,683 One customer provided in excess of 10% of the Company's consolidated revenues in 2019 , 2018 and 2017 . In 2019 , 2018 and 2017 , the Harsco Environmental Segment had one customer that provided in excess of 10% of this Segment's revenues under multiple long-term contracts at several mill sites. Should additional consolidations occur involving some of the steel industry's larger companies which are customers of the Company, it would result in an increase in concentration of credit risk for the Company. The loss of any one of the contracts would not have a material adverse effect upon the Company's financial position or cash flows; however, it could have a significant effect on quarterly or annual results of operations. In 2019 , Harsco Clean Earth had no customers in excess of 10% of the Segment's revenues. In 2019 , 2018 and 2017 , the Harsco Rail Segment had one customer that provided in excess of 10% of the Segment's revenues. The loss of any of these customers would not have a material adverse impact on the Company's financial positions or cash flows; however, it could have a material effect on quarterly or annual results of operations. Operating Information by Segment: Twelve Months Ended December 31 (In thousands) 2019 2018 2017 Revenues Harsco Environmental $ 1,034,847 $ 1,068,304 $ 1,011,328 Harsco Clean Earth 169,522 — — Harsco Rail 299,373 279,294 295,999 Corporate — 74 143 Total Revenues $ 1,503,742 $ 1,347,672 $ 1,307,470 Operating Income (Loss) Harsco Environmental $ 112,298 $ 121,195 $ 102,362 Harsco Clean Earth 20,009 — — Harsco Rail 23,708 37,341 32,953 Corporate (51,736 ) (27,841 ) (30,660 ) Total Operating Income $ 104,279 $ 130,695 $ 104,655 Twelve Months Ended December 31 (In thousands) 2019 2018 2017 Total Assets Harsco Environmental $ 1,296,061 $ 1,230,152 $ 1,184,280 Harsco Clean Earth 745,410 — — Harsco Rail 246,377 186,049 237,135 Corporate 26,037 53,342 43,860 Discontinued Operations 53,582 163,324 113,410 Total Assets $ 2,367,467 $ 1,632,867 $ 1,578,685 Depreciation and Amortization Harsco Environmental $ 112,126 $ 115,059 $ 112,329 Harsco Clean Earth 12,855 — — Harsco Rail 4,875 4,287 4,221 Corporate 5,238 5,710 6,027 Total Depreciation and Amortization $ 135,094 $ 125,056 $ 122,577 Capital Expenditures Harsco Environmental $ 153,694 $ 114,142 $ 87,526 Harsco Clean Earth 5,870 — — Harsco Rail 15,274 9,152 2,403 Corporate 1,762 1,313 1,490 Total Capital Expenditures $ 176,600 $ 124,607 $ 91,419 Reconciliation of Segment Operating Income to Consolidated Income From Continuing Operations Before Income Taxes and Equity Income: Twelve Months Ended December 31 (In thousands) 2019 2018 2017 Segment operating income $ 156,015 $ 158,536 $ 135,315 General Corporate expense (51,736 ) (27,841 ) (30,660 ) Operating income from continuing operations 104,279 130,695 104,655 Interest income 1,975 2,155 2,469 Interest expense (36,586 ) (21,531 ) (26,862 ) Defined benefit pension income (expense) (5,493 ) 3,457 (2,595 ) Loss on early extinguishment of debt (7,704 ) (1,127 ) (2,265 ) Income from continuing operations before income taxes and equity income $ 56,471 $ 113,649 $ 75,402 |
Revenue Recognition
Revenue Recognition | 12 Months Ended |
Dec. 31, 2019 | |
Revenue from Contract with Customer [Abstract] | |
Revenue Recognition | Revenue Recognition The Company recognizes revenues to depict the transfer of promised services and products to customers in an amount that reflects the consideration the Company expects to receive in exchange for those services or products. Service revenues include the Harsco Clean Earth Segment and the service components of the Harsco Environmental and Harsco Rail Segments. Product revenues include portions of the Harsco Environmental and Harsco Rail Segments. See Note 1, Summary of Significant Accounting Policies, Revenue Recognition, for additional information. A summary of the Company's revenues by primary geographical markets as well as by key product and service groups is as follows: Twelve Months Ended December 31, 2019 (In thousands) Harsco Environmental Segment Harsco Clean Earth Segment Harsco Rail Segment Corporate Consolidated Totals Primary Geographical Markets (a) : North America $ 294,367 $ 169,522 $ 221,724 $ — $ 685,613 Western Europe 386,593 — 44,569 — 431,162 Latin America (b) 146,040 — 2,588 — 148,628 Asia-Pacific 128,949 — 30,492 — 159,441 Middle East and Africa 60,402 — — — 60,402 Eastern Europe 18,496 — — — 18,496 Total Revenues (c) $ 1,034,847 $ 169,522 $ 299,373 $ — $ 1,503,742 Key Product and Service Groups: Environmental services related to resource recovery for metals manufacturing; and related logistical services $ 881,696 $ — $ — $ — $ 881,696 Applied products 127,875 — — — 127,875 Environmental systems for aluminum dross and scrap processing 25,276 — — — 25,276 Railway track maintenance equipment — — 145,968 — 145,968 After-market parts and services; safety and diagnostic technology — — 132,249 — 132,249 Railway contracting services — — 21,156 — 21,156 Waste processing and reuse solutions — 169,522 — — 169,522 General Corporate — — — — — Total Revenues (c) $ 1,034,847 $ 169,522 $ 299,373 $ — $ 1,503,742 Twelve Months Ended December 31, 2018 (In thousands) Harsco Environmental Segment Harsco Clean Earth Segment Harsco Rail Segment Corporate Consolidated Totals Primary Geographical Markets (a) : North America $ 302,238 $ — $ 205,212 $ 74 $ 507,524 Western Europe 390,840 — 48,016 — 438,856 Latin America (b) 151,886 — 3,977 — 155,863 Asia-Pacific 145,761 — 22,089 — 167,850 Middle East and Africa 50,003 — — — 50,003 Eastern Europe 27,576 — — — 27,576 Total Revenues (c) $ 1,068,304 $ — $ 279,294 $ 74 $ 1,347,672 Key Product and Service Groups: Environmental services related to resource recovery for metals manufacturing; and related logistical services $ 924,766 $ — $ — $ — $ 924,766 Applied products 128,488 — — — 128,488 Environmental systems for aluminum dross and scrap processing 15,050 — — — 15,050 Railway track maintenance equipment — — 112,547 — 112,547 After-market parts and services; safety and diagnostic technology — — 139,020 — 139,020 Railway contracting services — — 27,727 — 27,727 Waste processing and reuse solutions — — — — — General Corporate — — — 74 74 Total Revenues (c) $ 1,068,304 $ — $ 279,294 $ 74 $ 1,347,672 Twelve Months Ended December 31, 2017 (In thousands) Harsco Environmental Segment Harsco Clean Earth Segment Harsco Rail Segment Corporate Consolidated Totals Primary Geographical Markets (a) : North America $ 274,476 $ — $ 196,567 $ 143 $ 471,186 Western Europe 369,763 — 78,698 — 448,461 Latin America (b) 159,130 — 2,827 — 161,957 Asia-Pacific 138,311 — 17,907 — 156,218 Middle East and Africa 42,700 — — — 42,700 Eastern Europe 26,948 — — — 26,948 Total Revenues (c) $ 1,011,328 $ — $ 295,999 $ 143 $ 1,307,470 Key Product and Service Groups: Environmental services related to resource recovery for metals manufacturing; and related logistical services $ 890,371 $ — $ — $ — $ 890,371 Applied products 120,957 — — — 120,957 Environmental systems for aluminum dross and scrap processing — — — — — Railway track maintenance equipment — — 146,267 — 146,267 After-market parts and services; safety and diagnostic technology — — 110,195 — 110,195 Railway contracting services — — 39,537 — 39,537 Waste processing and reuse solutions — — — — — General Corporate — — — 143 143 Total Revenues (c) $ 1,011,328 $ — $ 295,999 $ 143 $ 1,307,470 (a) Revenues are attributed to individual countries based on the location of the facility generating the revenue. (b) Includes Mexico. (c) The Company has adopted the new revenue recognition standard utilizing the modified retrospective transition method, including use of practical expedients. Comparative information has not been restated and continues to be reported under U.S. GAAP in effect for those periods. See Note 2, Recently Adopted and Recently Issued Accounting Standards for additional information. The Company may receive payments in advance of earning revenue, which are treated as Advances on contracts on the Consolidated Balance Sheets. The Company may recognize revenue in advance of being able to contractually invoice the customer, which is treated as Contract assets on the Consolidated Balance Sheets. Contract assets are transferred to Trade accounts receivable, net when right to payment becomes unconditional. Contract assets and Contract liabilities are reported as a net position, on a contract-by-contract basis, at the end of each reporting period. These instances are primarily related to the Harsco Rail Segment. The Company had Contract assets totaling $31.2 million at December 31, 2019 and $12.1 million at December 31, 2018. The increase is due principally to additional contract assets recognized in excess of the transfer of contract assets to accounts receivable. The Company had Advances on contracts totaling $60.3 million at December 31, 2019 and $67.1 million at December 31, 2018. The decrease is due principally to the recognition of revenue on previously received advances on contracts in excess of receipts of new advances on contracts during the period, primarily in the Harsco Rail Segment. During the year ended December 31, 2019, the Company recognized approximately $67 million of revenue related to amounts previously included in Advances on Contracts. Additionally, during the year ended December 31, 2019, the Company recognized decreased revenue of approximately $1 million , in the Harsco Rail Segment, related to performance obligations partially satisfied in prior periods, resulting from the changes in estimated costs for certain projects where revenue is recognized on an over time basis. At December 31, 2019 , the Harsco Environmental Segment had remaining, fixed, unsatisfied performance obligations, where the expected contract duration exceeds one year totaling $152.5 million . Of this amount, $43.5 million is expected to be fulfilled by December 31, 2020 , $35.0 million by December 31, 2021, $33.8 million by December 31, 2022, $20.4 million by December 31, 2023 and the remainder thereafter. These amounts exclude any variable fees, fixed fees subject to indexation and any performance obligations expected to be satisfied within one year. The increase from September 30, 2019 is primarily related to a three-year contract extension related for one of the impacted locations. At December 31, 2019 , the Harsco Rail Segment had remaining, fixed, unsatisfied performance obligations, where the expected contract duration exceeds one year totaling $296.2 million . Of this amount, $75.9 million is expected to be fulfilled by December 31, 2020 , $83.0 million by December 31, 2021, $74.3 million by December 31, 2022, $52.5 million by December 31, 2023 and the remainder thereafter. These amounts exclude any variable fees, fixed fees subject to indexation and any performance obligations expected to be satisfied within one year. |
Other Expenses
Other Expenses | 12 Months Ended |
Dec. 31, 2019 | |
Other Income and Expenses [Abstract] | |
Other Expenses | Other (Income) Expenses, Net The major components of this Consolidated Statements of Operations caption are as follows: (In thousands) 2019 2018 2017 Net gains Harsco Environmental Segment $ (6,303 ) $ (2,650 ) $ (1,354 ) Corporate — (1,218 ) — Total net gains (6,303 ) (3,868 ) (1,354 ) Employee termination benefit costs Harsco Environmental Segment 1,254 2,853 4,411 Clean Earth Segment 1,960 — — Harsco Rail Segment 2,393 704 1,133 Corporate 1,012 1,206 1,189 Total employee termination benefit costs 6,619 4,763 6,733 Other costs to exit activities Harsco Environmental Segment 970 352 706 Harsco Rail Segment 3,042 — — Corporate 196 (182 ) 556 Total other costs to exit activities 4,208 170 1,262 Impaired asset write-downs Harsco Environmental Segment 632 104 706 Harsco Rail Segment 141 — — Corporate — — 168 Total impaired asset write-downs 773 104 874 Contingent consideration adjustments Harsco Environmental Segment (8,506 ) (2,939 ) — Harsco Clean Earth Segment 825 — — Total contingent consideration adjustments (7,681 ) (2,939 ) — Other income (237 ) (431 ) (188 ) Total other (income) expenses, net $ (2,621 ) $ (2,201 ) $ 7,327 Net Gains Net gains result from the sales of redundant properties (primarily land, buildings and related equipment) and non-core assets. In 2019, gains related to assets sold principally in Asia Pacific and North America; as well as a cumulative translation adjustment resulting from the substantial liquidation of a subsidiary in Western Europe. In 2018, gains related to assets sold principally in Eastern Europe, Western Europe and Asia Pacific. In 2017, gains related to assets sold principally in Latin America and Western Europe. Employee Termination Benefit Costs Costs and the related liabilities associated with involuntary termination benefit costs associated with one-time benefit arrangements provided as part of an exit or disposal activity are recognized by the Company when a formal plan for reorganization is approved at the appropriate level of management and communicated to the affected employees. Additionally, costs associated with ongoing benefit arrangements, or in certain countries where statutory requirements dictate a minimum required benefit, are recognized when they are probable and estimable. The employee termination benefits costs in 2019 principally related to the Harsco Rail Segment's consolidation of facilities in North America; the Harsco Clean Earth Segment primarily in North America; and the Harsco Environmental Segment primarily in Asia Pacific and Western Europe. The employee termination benefits costs in 2018 related principally to the Harsco Environmental Segment, primarily in Asia Pacific and Western Europe and Corporate in North America. The employee termination benefits costs in 2017 related principally to the Harsco Environmental Segment, primarily in Latin America and Western Europe. Other Costs to Exit Activities Costs associated with exit or disposal activities include costs to terminate a contract and other costs associated with exit or disposal activities. Costs to terminate a contract that is not a capital lease are recognized when an entity terminates the contract or when an entity ceases using the right conveyed by the contract. This includes the costs to terminate the contract before the end of its term or the costs that will continue to be incurred under the contract for its remaining term without economic benefit to the entity (e.g., lease run-out costs). Other costs associated with exit or disposal activities (e.g., costs to consolidate or close facilities and relocate equipment or employees) are recognized and measured at their fair value in the period in which the liability is incurred. In 2019, $4.2 million of exit costs were incurred in the Harsco Rail Segment, principally in North America due to the consolidation of facilities. In 2018, $0.2 million of exit costs were incurred across several regions. In 2017, $1.3 million of exit costs were incurred, principally in Western Europe and North America. Impaired Asset Write-downs Impaired asset write-downs are measured as the amount by which the carrying amount of assets exceeds their fair value. Fair value is estimated based upon the expected future realizable cash flows including anticipated selling prices. Non-cash impaired asset write-downs are included in, Other, net, on the Consolidated Statements of Cash Flows as adjustments to reconcile net income (loss) to net cash provided by operating activities. In 2019, $0.8 million of impaired asset write-downs were incurred principally in the Harsco Environmental Segment, mostly in Western Europe. In 2017, $0.9 million of impaired asset write-downs were incurred principally in the Harsco Environmental Segment, mostly in the Asia Pacific and North America regions. Contingent Consideration Adjustments The Company acquired Altek during 2018 and the purchase price included contingent consideration based on the performance of Altek through 2021. During 2019, the Company's assessment of these performance goals resulted in a $8.5 million reduction to the previously recognized contingent consideration liability in the Harsco Environmental Segment. During 2018, the Company's assessment of these performance goals resulted in a $2.9 million reduction to the previously recognized contingent consideration liability for Altek. In addition, during 2019, the Company acquired Clean Earth and included in the liabilities acquired was a contingent consideration liability resulting from a prior Clean Earth acquisition. During 2019, the Company recorded an increase to this liability of $0.8 million |
Components of Accumulated Other
Components of Accumulated Other Comprehensive Loss | 12 Months Ended |
Dec. 31, 2019 | |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract] | |
Components of Accumulated Other Comprehensive Loss | Components of Accumulated Other Comprehensive Loss Accumulated other comprehensive loss is included on the Consolidated Statements of Stockholders' Equity. The components of Accumulated other comprehensive loss, net of the effect of income taxes, and activity for the years ended December 31, 2019 and 2018 are as follows: Components of Accumulated Other Comprehensive Income (Loss) - Net of Tax (In thousands) Cumulative Foreign Exchange Translation Adjustments Effective Portion of Derivatives Designated as Hedging Instruments Cumulative Unrecognized Actuarial Losses on Pension Obligations Unrealized Loss on Marketable Securities Total Balance at December 31, 2017 $ (111,567 ) $ 808 $ (435,840 ) $ 17 $ (546,582 ) Adoption of new accounting standard — (1,520 ) — — (1,520 ) Balance at January 1, 2018 (111,567 ) (712 ) (435,840 ) 17 (548,102 ) Other comprehensive income (loss) before reclassifications (50,743 ) (a) 2,466 (b) 8,450 (c) (48 ) (39,875 ) Amounts reclassified from accumulated other comprehensive loss, net of tax — (365 ) 18,735 — 18,370 Total other comprehensive income (loss) (50,743 ) 2,101 27,185 (48 ) (21,505 ) Less: Other comprehensive loss attributable to noncontrolling interests 2,500 — — — 2,500 Other comprehensive income (loss) attributable to Harsco Corporation (48,243 ) 2,101 27,185 (48 ) (19,005 ) Balance at December 31, 2018 $ (159,810 ) $ 1,389 $ (408,655 ) $ (31 ) $ (567,107 ) Components of Accumulated Other Comprehensive Income (Loss) - Net of Tax (In thousands) Cumulative Foreign Exchange Translation Adjustments Effective Portion of Derivatives Designated as Hedging Instruments Cumulative Unrecognized Actuarial Losses on Pension Obligations Unrealized Loss on Marketable Securities Total Balance at December 31, 2018 $ (159,810 ) $ 1,389 $ (408,655 ) $ (31 ) $ (567,107 ) Adoption of new accounting standard (c) — — (21,429 ) — (21,429 ) Balance at January 1, 2019 (159,810 ) 1,389 (430,084 ) (31 ) (588,536 ) Other comprehensive income (loss) before reclassifications 17,261 (a) (7,050 ) (b) (32,274 ) (c) 28 (22,035 ) Amounts reclassified from accumulated other comprehensive loss, net of tax (1,763 ) 1,944 21,796 — 21,977 Total other comprehensive income (loss) 15,498 (5,106 ) (10,478 ) 28 (58 ) Less: Other comprehensive loss attributable to noncontrolling interests 972 — — — 972 Other comprehensive income (loss) attributable to Harsco Corporation 16,470 (5,106 ) (10,478 ) 28 914 Balance at December 31, 2019 $ (143,340 ) $ (3,717 ) $ (440,562 ) $ (3 ) $ (587,622 ) (a) Principally foreign currency fluctuation. (b) Principally net change from periodic revaluations. (c) Principally changes due to annual actuarial remeasurements and foreign currency translation. Amounts reclassified from accumulated other comprehensive loss for 2019 and 2018 are as follows: Year Ended December 31 2019 Year Ended December 31 2018 Affected Caption on the Consolidated Statements of Operations (In thousands) Amortization of defined benefit pension items (d) : Actuarial losses $ 19,806 $ 20,014 Defined benefit pension income (expense) Prior-service costs 326 (139 ) Defined benefit pension income (expense) Pension asset transfer - discontinued businesses 3,200 — Gain on sale of discontinued businesses Settlement/curtailment losses 19 249 Defined benefit pension income (expense) Total before tax 23,351 20,124 Tax benefit (1,555 ) (1,389 ) Total reclassification of defined benefit pension items, net of tax $ 21,796 $ 18,735 Recognition of cumulative foreign currency translation adjustments: Gain on substantial liquidation of subsidiaries (e) $ (2,425 ) $ — Other (income) expenses, net Loss on substantial liquidation of subsidiaries (e) 662 — Gain on sale of discontinued business Amortization of cash flow hedging instruments: Foreign currency exchange forward contracts $ (550 ) $ (374 ) Product revenues Foreign currency exchange forward contracts 44 — Cost of services and products sold Cross-currency interest rate swaps 1,219 1,264 Interest expense Interest rate swaps (520 ) (1,108 ) Interest expense Interest rate swaps 2,741 — Income from discontinued businesses Total before tax 2,934 (218 ) Tax benefit (990 ) (147 ) Total reclassification of cash flow hedging instruments $ 1,944 $ (365 ) (d) These accumulated other comprehensive loss components are included in the computation of NPPC. See Note 9, Employee Benefit Plans, for additional information. (e) No tax impact. |
SCHEDULE II. VALUATION AND QUAL
SCHEDULE II. VALUATION AND QUALIFYING ACCOUNTS | 12 Months Ended |
Dec. 31, 2019 | |
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract] | |
SCHEDULE II. VALUATION AND QUALIFYING ACCOUNTS | SCHEDULE II. VALUATION AND QUALIFYING ACCOUNTS Continuing Operations (In thousands) COLUMN A COLUMN B COLUMN C COLUMN D COLUMN E Additions (Deductions) Additions (Deductions) Description Balance at Beginning of Period Charged to Cost and Expenses Due to Currency Translation Adjustments Other Balance at End of Period For the year 2019: Allowance for Doubtful Accounts $ 4,586 $ 7,507 $ 370 $ 1,049 (a) $ 13,512 Deferred Tax Assets—Valuation Allowance 137,450 (7,395 ) 448 (3,429 ) (b) 127,074 For the year 2018: Allowance for Doubtful Accounts $ 4,470 $ 380 $ (149 ) $ (115 ) (a) $ 4,586 Deferred Tax Assets—Valuation Allowance 172,846 (20,104 ) (8,612 ) (6,680 ) (b) 137,450 For the year 2017: Allowance for Doubtful Accounts $ 11,558 $ 5,211 $ 524 $ (12,823 ) (a) $ 4,470 Deferred Tax Assets—Valuation Allowance 145,216 32,785 9,853 (15,008 ) (b) 172,846 (a) Includes the write-off of previously reserved accounts receivable balances. Also, 2019 includes the acquisition of Clean Earth. (b) Includes a decrease of $5.6 million related to the loss of certain tax attributes in certain foreign dormant entities due to merger and liquidation, an increase of $0.9 million related to pension adjustments recorded through Accumulate other comprehensive loss and an increase of $0.8 million related to the investment tax credit which is unlikely to be used before expiration in certain foreign jurisdictions in 2019. Includes a decrease of $5.4 million related to a change in estimate of interest deductions and a decrease of $1.1 million due to capital loss carryforward expiring in the U.S. in 2018. Includes a decrease of $11.6 million related to pension adjustments recorded through Accumulated other comprehensive loss and a $4.6 million decrease related to a U.S. tax rate change in 2017. |
Subsequent Event (Notes)
Subsequent Event (Notes) | 12 Months Ended |
Dec. 31, 2019 | |
Subsequent Events [Abstract] | |
Subsequent Events [Text Block] | 19. Subsequent Events On February 7, 2020, the Company announced it had entered into a definitive agreement to acquire the Stericycle Environmental Solutions Business ("ESOL"), an established hazardous waste transportation and processing solutions provider from Stericycle, Inc. Under the terms of the agreement, the Company will acquire ESOL for $462.5 million in cash, subject to post-closing adjustments. The transaction has been approved by the Company's Board and is expected to close by March 31, 2020 subject to customary closing conditions, including regulatory approvals. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2019 | |
Accounting Policies [Abstract] | |
Consolidation | Consolidation |
Reclassifications | Reclassifications Certain reclassifications have been made to prior year amounts to conform with current year classifications. |
Cash and Cash Equivalents | Cash and Cash Equivalents Cash and cash equivalents include cash on hand, demand deposits and short-term investments that are highly liquid in nature and have an original maturity of three months or less. |
Restricted Cash | Restricted Cash The Company had restricted cash of $2.5 million and $2.9 million at December 31, 2019 and December 31, 2018 , respectively, and the restrictions are primarily related to collateral provided for certain guarantees of the Company’s performance. |
Inventories | Inventories Inventories in the U.S. are principally accounted for using the last-in, first-out ("LIFO") method and are stated at the lower of cost or market. The Company's remaining inventories are accounted for using the first-in, first-out ("FIFO") or average cost methods and are stated at the lower of cost or net realizable value. See Note 4, Accounts Receivable and Inventories, for additional information. |
Depreciation | Depreciation Property, plant and equipment is recorded at cost and depreciated over the estimated useful lives of the assets using, principally, the straight-line method. When property, plant and equipment is retired from service, the cost of the retirement is charged to the allowance for depreciation to the extent of the accumulated depreciation and the balance is charged to income. Long-lived assets to be disposed of by sale are not depreciated while they are classified as held-for-sale. |
Leases | Leases The Company leases certain property and equipment under noncancelable lease agreements. The Company determines if a contract or arrangement contains a lease at inception. All leases are evaluated and classified as either an operating or finance lease. A lease is classified as a finance lease if any of the following criteria are met: (i) ownership of the underlying asset transfers to the Company by the end of the lease term; (ii) the lease contains an option to purchase the underlying asset that the Company is reasonably expected to exercise; (iii) the lease term is for a major part of the remaining economic life of the underlying asset; (iv) the present value of the sum of lease payments and any residual value guaranteed by the Company equals or exceeds substantially all of the fair value of the underlying asset; or (v) the underlying asset is of a specialized nature that it is expected to have no alternative use to the lessor at the end of the lease term. A lease that does not meet any of the criteria to be classified as a finance lease is classified as an operating lease. Operating leases are included as Right-of-use assets, net, Current portion of operating lease liabilities, and Operating lease liabilities on the Company's Condensed Consolidated Balance Sheets. Right-of-use ("ROU") assets and operating lease liabilities are recognized based on the present value of the future lease payments over the lease term at the commencement date. As most of the Company’s leases do not provide an implicit rate for use in determining the present value of future payments, the Company uses an incremental borrowing rate. This incremental borrowing rate reflects the creditworthiness of the Company for a lending period commensurate to the term of the lease and the standard lending practices related to such loans in the respective jurisdiction where the underlying assets are located. ROU assets also include any lease payments made and exclude any lease incentives and initial direct costs incurred. Lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term, including rent abatement periods and rent holidays. Certain of the Company's leases are subject to annual changes in an index or are subject to adjustments for which the amounts are not readily determinable at lease inception. While lease liabilities are not remeasured as a result of changes to these costs, changes are treated as variable lease payments and recognized in the period in which the obligation for those payments was incurred. Finance leases are included as Property, plant and equipment, net; Current maturities of long-term debt and Long-term debt on the Company's Condensed Consolidated Balance Sheets. Finance lease costs are split between depreciation expense related to the asset and interest expense on the lease liability, using the effective rate charged by the lessor. |
Goodwill and Other Intangible Assets | Goodwill The Company accounts for business combinations using the acquisition method of accounting, which requires that once control is obtained, all assets acquired and liabilities assumed, including amounts attributable to noncontrolling interests, be recorded at their respective fair values at the date of acquisition. The excess of purchase price over the fair values of identifiable assets and liabilities is recorded as goodwill. The determination of fair value of assets acquired and liabilities assumed requires numerous estimates and assumptions with respect to the timing and amounts of cash flow projections, revenue growth rates, customer attrition rates, discount rates and useful lives. Such estimates are based upon assumptions believed to be reasonable, and when appropriate, include assistance from independent third-party valuation firms. During the measurement period, which is up to one year from the acquisition date, the Company may record adjustments to the assets acquired and liabilities assumed, with corresponding offsets to goodwill. In accordance with U.S. GAAP, goodwill is not amortized and is tested for impairment at least annually or more frequently if indicators of impairment exist or if a decision is made to dispose of a business. Goodwill is allocated among and evaluated for impairment at the reporting unit level, which is defined as an operating segment or one level below an operating segment for which discrete financial information is available. A significant amount of judgment is involved in determining if an indicator of impairment has occurred. Such indicators may include declining cash flows or operating losses at the reporting unit level, a significant adverse change in legal factors or in the business climate, an adverse action or assessment by a regulator, unanticipated competition, a loss of key personnel or a more likely than not expectation that a reporting unit or a significant portion of a reporting unit will be sold or otherwise disposed of, among others. In applying the goodwill impairment test, the Company has the option to perform a qualitative test (“Step 0”) or a quantitative test (“Step 1”). Under Step 0, the Company assesses qualitative factors to determine whether it is more likely than not that the fair value of the reporting units is less than its carrying value. Qualitative factors may include, but are not limited to, economic conditions, industry and market considerations, cost factors, overall financial performance of the reporting unit, and other entity and reporting unit specific events. If after assessing these qualitative factors, the Company determines it is “more-likely-than-not” that the fair value of the reporting unit is less than the carrying value, the Company would perform Step 1. The Step 1 approach of testing for goodwill impairment involves comparing the current fair value of each reporting unit to the net book value, including goodwill. The Company uses a discounted cash flow model (“DCF model”) to estimate the current fair value of reporting units, as management believes forecasted operating cash flows are the best indicator of current fair value. A number of significant assumptions and estimates are involved in the preparation of DCF models including future revenues and operating margin growth, the weighted-average cost of capital (“WACC”), tax rates, capital spending, pension funding, the impact of business initiatives and working capital projections. These assumptions and estimates may vary significantly among reporting units. DCF models are based on approved long-range plans for the early years and historical relationships and projections for later years. WACC rates are derived from internal and external factors including, but not limited to, the average market price of the Company's stock, shares outstanding, book value of the Company's debt, the long-term risk-free interest rate, and both market and size-specific risk premiums. Due to the many variables noted above and the relative size of the Company's goodwill, differences in assumptions may have a material impact on the results of the Company's annual goodwill impairment testing. If the net book value of a reporting unit were to exceed the current fair value, the second step of the goodwill impairment test (“Step 2”) would currently be required to determine if an impairment existed and the amount of goodwill impairment to record, if any. Step 2 compares the net book value of a reporting unit's goodwill with the implied fair value of that goodwill. The implied fair value of goodwill represents the excess of fair value of the reporting unit over the fair value amounts assigned to all of the assets and liabilities of the reporting unit if it were to be acquired in a hypothetical business combination and the current fair value of the reporting unit represented the purchase price. As necessary, the Company may use independent third-party valuation firms to assist with the Step 2 assessment. See Note 6, Goodwill and Other Intangible Assets, for additional information. |
Impairment of Long-Lived Assets (Other than Goodwill) | Long-Lived Assets Impairments (Other than Goodwill) |
Deferred Financing Costs | Deferred Financing Costs The Company has incurred debt issuance costs which are recognized as a reduction of Long-term debt on the Consolidated Balance Sheets. Debt issuance costs are amortized and recognized as interest expense over the contractual term of the related indebtedness or shorter period if appropriate based upon contractual terms. Whenever indebtedness is modified from its original terms, an evaluation is made whether an accounting modification or extinguishment has occurred in order to determine the accounting treatment for debt issuance costs related to the debt modification. |
Revenue Recognition | Revenue Recognition The Company recognizes revenues to depict the transfer of promised services and products to customers in an amount that reflects the consideration the Company expects to receive in exchange for those services or products. Service revenues include the Harsco Clean Earth Segment and the service components of the Harsco Environmental and Harsco Rail Segments. Product revenues include portions of Harsco Environmental and Harsco Rail Segments. Harsco Environmental - This Segment provides on-site services, under long-term contracts, for material logistics; product quality improvement and resource recovery from iron, steel and metals manufacturing; manufactures and sells industrial abrasives and roofing granule products; and manufactures aluminum dross and scrap processing systems. • Service revenues are recognized over time as the customer simultaneously receives the benefits provided by the Company's performance. The Company utilizes an output method based on work performed (liquid steel tons processed, weight of material handled, etc.) to measure progress, which is deemed to best depict the transfer of value to the customer and revenue earned by the Company. Transaction prices are based on contractual terms, which may include both fixed and variable portions. The fixed portion is recognized as earned (normally monthly) over the contractual period. The variable portion is recognized as services are performed and differs based on the volume of services performed. Given the long-term nature of these arrangements, most contracts permit periodic adjustment of either the variable or both the fixed and variable portions based on the changes in macroeconomic indicators, including changes in commodity prices. Transaction prices, when the standalone selling price is not directly observable, are allocated to performance obligations utilizing an expected cost plus a margin approach. Amounts are typically billed and payable on a monthly basis as services are performed. • Product revenues are recognized at the point when control transfers to the customer. Control generally transfers at the point of shipment for domestic orders and in accordance with the international commercial terms included in contracts for export sales. Transaction prices are based on contractual terms, which are generally fixed and when the standalone selling price is not directly observable, allocated to performance obligations utilizing an adjusted market assessment approach. Amounts are billed and payable upon completion of each transaction. • Product revenues in the aluminum dross and scrap process systems business are generally recognized over time as control is transferred to the customer. Control transfers over time because aluminum dross and scrap systems are customized, have no alternate use and the Company has an enforceable right to payment. The Company utilizes an input method based on costs incurred ("cost-to-cost method") to measure progress, which is deemed to best depict the transfer of value to the customer and revenue earned by the Company. Transaction prices are based on contractual terms, which are generally fixed, and when the standalone selling price is not directly observable, allocated to performance obligations utilizing an adjusted market assessment approach. The Company may receive periodic payments associated with key milestones with any remaining consideration billed and payable upon completion of the transaction. Harsco Clean Earth - This Segment provides specialty waste processing and beneficial reuse solutions for hazardous wastes, contaminated materials and dredged volumes. • Revenues are recognized over time as the customer simultaneously receives the benefits provided by the Company's performance. The Company utilizes an output method based on the amount of materials received for processing to measure progress, which is deemed to best depict the transfer of value to the customer and revenue earned by the Company. Transaction prices are based on contractual terms which are generally fixed for hazardous waste and contaminated materials and which is variable (based on volumes) for dredged material. Fixed amounts are recognized as earned over the contractual period and variable amounts are recognized as services are performed and differ based on the volume of services performed. Transaction prices, when the standalone selling price is not directly observable, are allocated to performance obligations utilizing an expected cost plus a margin approach. Amounts are typically billed and payable on a monthly basis. Harsco Rail - This Segment sells railway track maintenance equipment, after-market parts, Protran/safety equipment and provides railway track maintenance services. • For the majority of railway track maintenance equipment sales, revenue is recognized at the point when control transfers to the customer. Control generally transfers at the point of shipment for domestic orders and in accordance with the international commercial terms included in contracts for export sales. In certain railway track maintenance equipment sales, revenue is recognized over time because such equipment is highly customized, has no alternate use and the Company has an enforceable right to payment. The Harsco Rail Segment uses the cost-to-cost method to measure progress because it is the measure that best depicts the transfer of control to the customer, which occurs as the Harsco Rail Segment incurs costs under the contracts. Under the cost-to-cost method, the extent of progress towards completion is based on the ratio of costs incurred to total estimated costs at completion which includes both actual costs already incurred and the estimated costs to complete. Accounting for contracts with customers using the cost-to-cost method requires significant judgment relative to assessing risks, estimating contract revenues (including estimates of variable consideration, if applicable), estimating contract costs (including estimating any liquidating damages or penalties related to performance, engineering costs to design the machine and the material, labor and overhead manufacturing costs to build the machine); making assumptions for schedule and technical items; properly executing the engineering and design phases consistent with customer expectations; the availability and costs of labor and material resources; productivity; and evaluating whether a significant financing component is present. Due to the number of years it may take to complete certain contracts and the scope and nature of the work required to be performed on those contracts, primarily in the Harsco Rail Segment, estimating total revenues and costs at completion is inherently complicated and subject to many variables. Transaction prices are based on contracted terms, which are generally fixed, and when the standalone selling price is not directly observable, allocated to performance obligations utilizing either the adjusted market assessment or expected cost plus a margin approach. For certain transactions, the Company receives periodic payments associated with key milestones. In limited instances, those payments are intended to provide financing with such transactions being treated as including a significant financing component. Any remaining consideration is billed and payable upon completion of the transaction. • For after-market parts sales and safety equipment, revenue is recognized at the point when control transfers to the customer. Control generally transfer to the customer at the point of shipment for domestic orders and in accordance with the international commercial terms included in contracts for export sales. Transaction prices are based on contracted terms, which are generally fixed, and when the standalone selling price is not directly observable, allocated to performance obligations utilizing an adjusted market assessment approach. Amounts are billed and payable upon completion of each contract. • For railway track maintenance services, revenue is recognized over time as the customer simultaneously receives the benefits provided by the Company's performance. The Company utilizes an appropriate output method based on work performed (feet, miles, shifts worked, etc.) to measure progress, which is deemed to best depict the transfer of value to the customer and revenue earned by the Company. Transaction prices are based on contracted terms, which are generally variable. The variable portion is recognized as services are performed and differs based on the value of services. Given the long-term nature of these arrangements, most contracts permit periodic adjustment based on the changes in macroeconomic indicators. Transaction prices, when the standalone selling price is not directly observable, are allocated to performance obligations utilizing an expected cost plus a margin approach. Amounts are typically billed and payable on a monthly basis as services are performed. The Company has elected to utilize the following practical expedients on an ongoing basis: • The Company has not adjusted the promised amount of consideration for the effects of a significant financing component if the Company expects, at contract inception, that the period between when the Company transfers the promised good or services to the customer and when the customer pays for that good or service would be one year or less; and • The Company has elected to exclude disclosures related to unsatisfied performance obligations where the related contract has a duration of one year or less; or where the consideration is entirely variable. Accordingly, the Company's disclosure related to unsatisfied performance obligations is limited to the railway track maintenance equipment in the Harsco Rail Segment and the fixed portion of fees related to metals services in the Harsco Environmental Segment. Taxes assessed by governmental authorities that are both imposed on and concurrent with a specific revenue-producing transaction, that are collected by the Company from a customer, are excluded from revenue. Additionally, in certain contracts, the Company facilitates shipping and handling activities after control has transferred to the customer. The Company has elected to record all shipping and handling activities as costs to fulfill a contract. In situations where the shipping and handling costs have not been incurred at the time revenue is recognized, the respective shipping and handling costs are accrued. On January 1, 2018, the Company adopted changes, with subsequent amendments, issued by the Financial Accounting Standards Board ("FASB") related to the recognition of revenue from contracts with customers. The Company chose to implement the impact of the FASB changes utilizing the modified retrospective method. Comparative information has not been restated and continues to be reported under U.S. GAAP in effect for those periods (2017). |
Income Taxes | Income Taxes The Company accounts for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of the events that have been included in the consolidated financial statements. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial statements and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. The Company records deferred tax assets to the extent that the Company believes that these assets will more likely than not be realized. In making such determinations, the Company considers all available positive and negative evidence, including future reversals of existing deferred tax liabilities, projected future taxable income, tax planning strategies and recent financial results. In the event the Company was to determine that it would be able to realize deferred income tax assets in the future in excess of their net recorded amount, an adjustment to the valuation allowance would be made that would reduce the provision for income taxes. The Company prepares and files tax returns based on interpretation of tax laws and regulations and records its provision for income taxes based on these interpretations. Uncertainties may exist in estimating the Company's tax provisions and in filing tax returns in the many jurisdictions in which the Company operates, and as a result these interpretations may give rise to an uncertain tax position. The tax benefit from an uncertain tax position is recognized when it is more likely than not that the position will be sustained upon examination, including resolutions of any related appeals or litigation processes, based on its technical merits. Each subsequent period the Company determines if existing or new uncertain tax positions meet a more likely than not recognition threshold and adjust accordingly. The Company recognizes interest and penalties related to unrecognized tax benefits within Income tax expense in the accompanying Consolidated Statements of Operations. Accrued interest and penalties are included in Other liabilities on the Consolidated Balance Sheets. The significant assumptions and estimates described in the preceding paragraphs are important contributors to the effective tax rate each year. |
Accrued Insurance and Loss Reserves | Accrued Insurance and Loss Reserves The Company retains a significant portion of the risk for U.S. workers' compensation, U.K. employers' liability, automobile, general and product liability losses. During 2019 , 2018 and 2017 , the Company recorded insurance expense from continuing operations related to these lines of coverage of $15.4 million , $13.5 million and $16.0 million , respectively. Reserves have been recorded that reflect the undiscounted estimated liabilities including claims incurred but not reported. When a recognized liability is covered by third-party insurance, the Company records an insurance claim receivable to reflect the covered liability. Changes in the estimates of the reserves are included in net income (loss) in the period determined. During 2019 , 2018 and 2017 , the Company recorded insurance reserve adjustments that decreased pre-tax insurance expense from continuing operations for self-insured programs by $1.5 million , $2.0 million and $1.5 million , respectively. At December 31, 2019 and 2018 , the Company has recorded liabilities of $28.7 million and $60.3 million , respectively, related to both asserted as well as unasserted insurance claims. Included in the balances at December 31, 2019 and 2018 were $3.7 million and $34.2 million , respectively, of recognized liabilities covered by insurance carriers. Amounts estimated to be paid within one year have been included in current caption, Insurance liabilities, with the remainder included in non-current caption, Insurance liabilities, on the Consolidated Balance Sheets. |
Warranties | Warranty expense and payments are incurred principally in the Harsco Rail Segment. Warranty activity may vary from year to year depending upon the mix of revenues and contractual terms related to product warranties. |
Foreign Currency Translation | Foreign Currency Translation The financial statements of the Company's subsidiaries outside the U.S., except for those subsidiaries located in highly inflationary economies and those entities for which the U.S. dollar is the currency of the primary economic environment in which the entity operates, are measured using the local currency as the functional currency. Assets and liabilities of these subsidiaries are translated at the exchange rates at the balance sheet date. Resulting translation adjustments are recorded in the cumulative translation adjustment account, a separate component of Accumulated other comprehensive loss on the Consolidated Balance Sheets. Income and expense items are translated at average monthly exchange rates. Gains and losses from foreign currency transactions are included in Operating income from continuing operations. For subsidiaries operating in highly inflationary economies, and those entities for which the U.S. dollar is the currency of the primary economic environment in which the entity operates, gains and losses on foreign currency transactions and balance sheet translation adjustments are included in Operating income from continuing operations. |
Financial Instruments and Hedging | Financial Instruments and Hedging The Company has operations throughout the world that are exposed to fluctuations in related foreign currencies in the normal course of business. The Company seeks to reduce exposure to foreign currency fluctuations through the use of forward exchange contracts. The Company does not hold or issue financial instruments for trading purposes and it is the Company's policy to prohibit the use of derivatives for speculative purposes. The Company has a Foreign Currency Risk Management Committee that meets periodically to monitor foreign currency risks. The Company executes foreign currency exchange forward contracts to hedge transactions for firm purchase commitments, to hedge variable cash flows of forecasted transactions and for export sales denominated in foreign currencies. These contracts are generally for 90 days or less; however, where appropriate, longer-term contracts may be utilized. For those contracts that are designated as qualified cash flow hedges, gains or losses are recorded in Accumulated other comprehensive loss on the Consolidated Balance Sheets. The Company uses interest rate swaps in conjunction with certain debt issuances in order to secure a fixed interest rate. The interest rate swaps are recorded on the Consolidated Balance Sheets at fair value, with changes in value attributed to the effect of the swaps’ interest spread and changes in the credit worthiness of the counter-parties recorded in Accumulated other comprehensive loss. Amounts recorded in Accumulated other comprehensive loss on the Consolidated Balance Sheets are reclassified into operations in the same period or periods during which the hedged forecasted transaction affects income. The cash flows from these contracts are classified consistent with the cash flows from the transaction being hedged (e.g., the cash flows related to contracts to hedge the purchase of fixed assets are included in cash flows from investing activities, etc.). The Company also enters into certain forward exchange contracts that are not designated as hedges. Gains and losses on these contracts are recognized in operations based on changes in fair market value. For fair value hedges of a firm commitment, the gain or loss on the derivative and the offsetting gain or loss on the hedged firm commitment are recognized currently in operations. |
Earnings Per Share | Earnings Per Share |
Use of Estimates in the Preparation of Financial Statements | Use of Estimates in the Preparation of Financial Statements The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses. Actual results could differ from those estimates. |
Recently Adopted and Recently Issued Accounting Standards | Recently Adopted and Recently Issued Accounting Standards The following accounting standards have been adopted in 2019: On January 1, 2019, the Company adopted changes issued by the FASB related to accounting for leases. The changes introduce a lessee model that brings most leases onto the balance sheet. The changes also align many of the underlying principles of the new lessor model with those in the FASB’s new revenue recognition standard. Furthermore, the changes address other concerns related to the current lease model such as eliminating the requirement in current guidance for an entity to use bright-line tests in determining lease classification. The changes also require lessors to increase the transparency of their exposure to changes in value of their residual assets and how they manage that exposure. The Company elected the package of practical expedients permitted under the transition, which among other items, allowed the carry forward of the historical lease classification. The Company has elected to apply the transition requirements at the January 1, 2019 effective date and therefore, comparative information has not been restated and continues to be reported under U.S. GAAP in effect for those periods. The changes had a significant impact on the Consolidated Balance Sheets upon adoption and the Company recorded ROU assets and lease liabilities of $34.0 million and $34.2 million , respectively. The difference between the ROU assets and lease liabilities was recorded primarily as adjustments to other assets and liabilities where prepaid rent and deferred expenses were previously recorded. Additionally, the Company's accounting for finance leases remained consistent. The changes did not have an impact on the Company’s Consolidated Statements of Operations or Consolidated Statements of Cash Flows. The discount rates used to calculate the ROU assets and lease liabilities as of the effective date were based on the remaining lease terms as of the effective date. See Note 8, Leases, for additional information. On January 1, 2019, the Company adopted changes issued by the FASB which expand and refine hedge accounting for both financial and non-financial risk components, aligns the recognition and presentation of the effects of hedging instruments and hedged items in the financial statements and includes certain targeted improvements to ease the application of current guidance related to the assessment of hedge effectiveness. Upon adoption, the Company’s recognition model for the excluded component was modified from a mark-to-market approach to an amortization approach for hedging relationships. Hedging relationships entered into on or after January 1, 2019 will be under the amortization approach while those entered into before January 1, 2019 will continue to be recognized under the mark-to-market approach. As such, there was no effect of applying this election reflected as an adjustment to Accumulated other comprehensive loss with a corresponding adjustment to the opening balance of Retained earnings. Presentation and disclosure amendments are required to be applied prospectively. Other than required expanded disclosures, the adoption of these changes did not have a material impact on the Company's consolidated financial statements. On January 1, 2019, the Company adopted changes issued by the FASB which allow entities to reclassify stranded income tax effects resulting from the Tax Cuts and Jobs Act (the “Tax Act”) from accumulated other comprehensive income to retained earnings in the consolidated financial statements. Under the Tax Act, deferred taxes were adjusted to reflect the reduction of the historical corporate income tax rate to the newly enacted corporate income tax rate, which left the tax effects on items within accumulated other comprehensive income stranded at historical tax rates. The adoption of these changes resulted in the Company reclassifying approximately $21 million of stranded income tax effects into Retained earnings. The following accounting standards have been issued and become effective for the Company at a future date: In June 2016, the FASB issued changes, as amended, which update the impairment model by requiring entities to use a forward-looking approach based on expected losses rather than incurred losses to estimate credit losses on certain types of financial instruments, including trade receivables. This may result in the earlier recognition of allowances for losses. The changes become effective for the Company on January 1, 2020. Other than required expanded disclosures, the adoption of these changes will not have a material impact on the Company's consolidated financial statements. In January 2017, the FASB issued changes that remove Step 2 of the annual goodwill impairment test, which requires a hypothetical purchase price allocation. The changes provide that the amount of goodwill impairment will be equal to the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. All other goodwill impairment guidance remains largely unchanged. The same one-step impairment test will be applied to goodwill at all reporting units, even those with zero or negative carrying amounts. Entities will be required to disclose the amount of goodwill at reporting units with zero or negative carrying amounts. The changes become effective for the Company on January 1, 2020. Management has determined that these changes will not have a material impact on the Company's consolidated financial statements. However, should the Company be required to record a goodwill impairment charge in future periods, the amount recorded may differ compared to any amounts that might be recorded under current practice. In August 2018, the FASB issued changes which modify the disclosure requirements for fair value measurements. The amendments in this update remove the requirement to disclose the amount of, and reasons for, transfers between Level 1 and Level 2 of the fair value hierarchy; the policy for timing of transfers between levels; and the valuation processes for Level 3 fair value measurements. The changes require disclosure of changes in unrealized gains and losses for the period included in other comprehensive income (loss) for recurring Level 3 fair value measurements held at the end of the reporting period and the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. The changes become effective for the Company on January 1, 2020. Other than required expanded disclosures, the adoption of these changes will not have a material impact on the Company's consolidated financial statements. In August 2018, the FASB issued changes which modify the disclosure requirements for employers that sponsor defined benefit pension or other post-retirement plans. The changes remove the requirements to disclose: amounts in accumulated other comprehensive income (loss) expected to be recognized as components of net periodic benefit cost over the next fiscal year; the amount and timing of plan assets expected to be returned to the employer and the effects of a one-percentage point change in assumed health care cost trend rates. The update also requires disclosure of an explanation of the reasons for significant gains and losses related to changes in the benefit obligation for the period. The changes become effective for the Company on January 1, 2021. Management does not believe these changes will have a material impact on its consolidated financial statements. In December 2019, the FASB issued changes which are intended to reduce complexity and simplify the accounting for income taxes in accordance with U.S. GAAP by removing certain exceptions related to investments, intraperiod allocations and interim calculations and clarifying existing guidance to improve consistent application. The changes become effective for the Company on January 1, 2021, with early adoption permitted. Management is currently evaluating the impact of these changes on its consolidated financial statements. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Accounting Policies [Abstract] | |
Schedule of Product Warranty Liability | The following table summarizes the warranty activity for 2019 , 2018 and 2017 : (In thousands) 2019 2018 2017 Warranty reserves, beginning of the year $ 5,243 $ 5,486 $ 6,001 Accruals for warranties issued during the year 4,134 3,837 4,533 Reductions related to pre-existing warranties (2,748 ) (3,320 ) (3,428 ) Acquisitions (See Note 3) — 249 — Warranties paid (649 ) (942 ) (1,637 ) Other (principally foreign currency translation) (60 ) (67 ) 17 Warranty reserves, end of the year $ 5,920 $ 5,243 $ 5,486 |
Recently Adopted and Recently_2
Recently Adopted and Recently Issued Accounting Standards (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Accounting Changes and Error Corrections [Abstract] | |
Cumulative Effect of Changes |
Acquisitions and Dispositions (
Acquisitions and Dispositions (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Business Combinations [Abstract] | |
Disposal Groups, Including Discontinued Operations [Table Text Block] | Certain key selected financial information included in net income from discontinued operations for the former Harsco Industrial Segment is as follows: Years ended December 31 (In millions) 2019 2018 2017 Amounts directly attributable to the former Harsco Industrial Segment: Total revenues $ 306,972 $ 374,707 $ 299,592 Cost of products sold 224,811 276,198 225,163 Gain on sale from discontinued businesses 569,135 — — Income from discontinued business 27,823 43,593 20,049 Additional amounts allocated to the former Harsco Industrial Segment: Selling, general and administrative expenses (j) $ 8,429 $ — $ — Interest expense (k) 11,237 16,613 20,689 Loss on early extinguishment of debt (l) 5,314 — — (j) The Company has allocated directly attributable transaction costs to discontinued operations. (k) The Company has allocated interest expense, including a portion of the amount reclassified into income for the Company's interest rate swaps, amortization of deferred financing costs, and $2.7 million related to interest rate swap terminations which occurred during the year ended December 31, 2019, all of which were directly attributed with the mandatory repayment of the Company's Term Loan Facility, resulting from the AXC disposal, as part of discontinued operations. (l) The Company has allocated the $5.3 million write-off of deferred financing costs to discontinued operations as it is directly attributed to the mandatory repayment of the Term Loan Facility that resulted from the AXC disposal. The former Harsco Industrial Segment's balance sheet positions as of December 31, 2019 and December 31, 2018 are presented as Assets held-for-sale and Liabilities of assets held-for-sale in the Company’s Consolidated Balance Sheets and are summarized as follows: (in thousands) December 31, 2019(i) December 31 Trade accounts receivable, net $ 10,982 $ 44,786 Other receivables 78 412 Inventories 9,838 16,926 Current portion of contract assets — 12,124 Other current assets 655 984 Property, plant and equipment, net 20,703 37,107 Right-of-use assets, net 11,230 — Goodwill — 6,839 Intangible assets, net — 10,618 Deferred income tax assets — 563 Other assets 96 204 Total assets $ 53,582 $ 130,563 Accounts payable $ 5,060 $ 24,426 Accrued compensation 2,324 7,385 Current portion of advances on contracts 1,168 1,910 Current portion of operating lease liabilities 1,575 — Other current liabilities 1,218 5,689 Operating lease liabilities 9,837 — Other liabilities 2,314 555 Total liabilities $ 23,496 $ 39,965 (i) The decrease from December 31, 2018 is primarily related to the sale of AXC and PK. |
Business Acquisition, Pro Forma Information [Table Text Block] | The values assigned to the assets acquired and liabilities assumed are based on preliminary valuations and are subject to change as the Company obtains additional information during the measurement period. Year Ended December 31 (In millions) 2019 2018 Pro forma revenues $ 1,635.9 $ 1,614.6 Pro forma net income (including discontinued operations) (e) 517.6 116.1 (e) Pro forma net income for 2019 includes a $453.6 million after-tax gain on the sale of AXC and PK. |
Summary of assets acquired and liabilities assumed | The fair value recorded for the assets acquired and liabilities assumed for Clean Earth is as follows: Preliminary Valuation (In millions) June 28, 2019 Measurement Period Adjustments (a) December 31 Cash and cash equivalents (b) $ 42.8 $ (39.2 ) $ 3.6 Trade accounts receivable, net 63.7 (1.2 ) 62.5 Other receivables 0.8 1.3 2.1 Other current assets 8.7 (1.4 ) 7.3 Property, plant and equipment 75.6 1.7 77.3 Right-of-use assets 14.4 11.4 25.8 Goodwill 313.8 16.4 330.2 Intangible assets 261.1 (18.9 ) 242.2 Other assets 4.0 (3.0 ) 1.0 Accounts payable (23.0 ) (0.1 ) (23.1 ) Acquisition consideration payable (b) (39.2 ) 39.2 — Other current liabilities (18.0 ) (1.3 ) (19.3 ) Net deferred taxes liabilities (51.2 ) 5.4 (45.8 ) Operating lease liabilities (11.1 ) (8.4 ) (19.5 ) Other liabilities (6.5 ) (2.1 ) (8.6 ) Total identifiable net assets of Clean Earth $ 635.9 $ (0.2 ) $ 635.7 (a) The measurement period adjustments did not have a material impact on the Company's previously reported operating results. (b) Acquisition consideration payable represents a portion of the cash consideration not paid out until July 2019. The fair value recorded for the assets acquired and liabilities assumed for Altek is as follows: Final Valuation (In millions) June 30 2018 Measurement Period Adjustments (f) March 31 Cash and cash equivalents $ 1.7 $ — $ 1.7 Net working capital (1.5 ) 0.2 (1.3 ) Property, plant and equipment 3.3 — 3.3 Intangible assets 52.5 0.2 52.7 Goodwill 20.9 1.6 22.5 Net deferred tax liabilities (8.5 ) — (8.5 ) Other liabilities (0.3 ) — (0.3 ) Total identifiable net assets of Altek $ 68.1 $ 2.0 $ 70.1 (f) The measurement period adjustments did not have a material impact on the Company's previously reported operating results. |
Summary of intangible assets and amortization periods | The following table details the preliminary valuation of identifiable intangible assets and amortization periods for Clean Earth: Preliminary Valuation (Dollars in millions) Weighted-Average Amortization Period Preliminary Valuation June 28, 2019 Measurement Period Adjustments (c) December 31 Permits 18 years $ 176.1 $ (6.0 ) $ 170.1 Customer relationships and backlog 7.5 years 33.4 (12.9 ) 20.5 Air rights Usage based (d) 25.6 — 25.6 Trade names 11.5 years 26.0 — 26.0 Total identifiable intangible assets of Clean Earth $ 261.1 $ (18.9 ) $ 242.2 (c) The measurement period adjustments did not have a material impact on the Company's previously reported operating results. (d) The Company estimates that based on current usage that the expected useful life would be 26.5 years . |
Summary of changes in fair value of contingent consideration | The following table reflects the changes in the fair value of contingent consideration: (In thousands) 2019 2018 Balance at beginning of year $ 8,420 $ — Recognition of contingent consideration — 10,097 Measurement period adjustment (g) — 1,958 Fair value adjustment (h) (8,506 ) (2,939 ) Foreign currency translation 86 (696 ) Balance at end of year $ — $ 8,420 (g) Measurement period adjustment was recorded to goodwill on the Consolidated Balance Sheet. (h) The fair value adjustment resulted from the decreased probability of Altek achieving cumulative financial and non-financial performance goals within the required time frame. This amount is recorded in Other expenses, net on the Consolidated Statements of Operations. (In thousands) 2019 Balance at June 28, 2019 $ 3,100 Payment (525 ) Fair value adjustment 825 Balance at end of year $ 3,400 |
Accounts Receivable and Inven_2
Accounts Receivable and Inventories (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Accounts Receivable and Inventories [Abstract] | |
Schedule of accounts receivable | Accounts receivable consist of the following: (In thousands) December 31 December 31 Trade accounts receivable $ 323,502 $ 251,013 Less: Allowance for doubtful accounts (13,512 ) (4,586 ) Trade accounts receivable, net $ 309,990 $ 246,427 Insurance claim receivable (a) $ — $ 30,000 Other receivables (b) $ 21,265 $ 23,770 (a) Relates to the Lima Refinery litigation. See Note 11, Commitments and Contingencies, for additional information. (b) |
Schedule of provision for doubtful accounts related to trade accounts receivable | The provision for doubtful accounts related to trade accounts receivable was as follows: Years Ended December 31 (In thousands) 2019 2018 2017 Provision for doubtful accounts related to trade accounts receivable $ 7,507 $ 380 $ 5,211 |
Schedule of inventories | Inventories consist of the following: (In thousands) December 31 December 31 Finished goods $ 14,550 $ 11,892 Work-in-process 13,088 20,839 Raw materials and purchased parts 104,488 61,547 Stores and supplies 24,865 21,907 Total inventories $ 156,991 $ 116,185 Valued at lower of cost or market: LIFO basis $ 101,465 $ 66,650 FIFO basis 7,473 5,719 Average cost basis 48,053 43,816 Total inventories $ 156,991 $ 116,185 |
Schedule of contracts in process |
Property, Plant and Equipment (
Property, Plant and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Property, Plant and Equipment [Abstract] | |
Schedule of property, plant and equipment | Property, plant and equipment consist of the following: (In thousands) Estimated Useful Lives December 31 December 31 Land — $ 30,409 $ 10,143 Land improvements 5-20 years 19,155 15,961 Buildings and improvements (a) 5-40 years 182,795 163,037 Machinery and equipment 3-20 years 1,518,652 1,470,620 Uncompleted construction — 55,592 36,968 Gross property, plant and equipment 1,806,603 1,696,729 Less: Accumulated depreciation (1,244,817 ) (1,263,936 ) Property, plant and equipment, net $ 561,786 $ 432,793 |
Goodwill and Other Intangible_2
Goodwill and Other Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Goodwill | The following table reflects the changes in carrying amounts of goodwill by segment for the years ended December 31, 2019 and 2018 : (In thousands) Harsco Environmental Segment Harsco Clean Earth Segment Harsco Rail Segment Consolidated Totals Balance at December 31, 2017 $ 381,893 $ — $ 13,026 $ 394,919 Changes to goodwill (a) 22,518 — — 22,518 Foreign currency translation (12,724 ) — — (12,724 ) Balance at December 31, 2018 391,687 — 13,026 404,713 Changes to goodwill (b) — 330,230 — 330,230 Foreign currency translation 3,426 — — 3,426 Balance at December 31, 2019 $ 395,113 $ 330,230 $ 13,026 $ 738,369 |
Schedule of Acquired Finite-Lived Intangible Assets by Major Class | The following table reflects these intangible assets by major category: December 31, 2019 December 31, 2018 (In thousands) Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Customer related $ 143,996 $ 99,327 $ 122,378 $ 93,577 Permits 170,322 4,694 — — Technology related 36,467 5,635 35,831 2,681 Trade names 31,719 2,182 5,565 682 Air rights 26,139 411 — — Patents 249 168 2,598 2,503 Other 3,765 1,158 4,214 1,936 Total $ 412,657 $ 113,575 $ 170,586 $ 101,379 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense | The following table shows the estimated amortization expense for the next five fiscal years based on current intangible assets. (In thousands) 2020 2021 2022 2023 2024 Estimated amortization expense (a) $ 23,500 $ 22,400 $ 22,000 $ 22,000 $ 22,000 (a) These estimated amortization expense amounts do not reflect the potential effect of future foreign currency exchange rate fluctuations. |
Debt and Credit Agreements (Tab
Debt and Credit Agreements (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Debt Disclosure [Abstract] | |
Schedule of Line of Credit Facilities | The following table illustrates the amount outstanding under the Revolving Credit Facility and available credit at December 31, 2019 . December 31, 2019 (In thousands) Facility Limit Outstanding Balance Outstanding Letters of Credit Available Credit Revolving Credit Facility (a U.S.-based program) $ 700,000 $ 67,000 $ 25,352 $ 607,648 |
Schedule of Long-term Debt Instruments | The Company's long-term debt consists of the following: (In thousands) December 31 December 31 Senior Secured Credit Facilities (a) : Term Loan Facility with an interest rate of 4.1% and 4.8% at December 31, 2019 and 2018, respectively $ 218,188 $ 541,788 Revolving Credit Facility with an average interest rate of 5.0% and 4.6% at December 31, 2019 and 2018, respectively 67,000 62,000 5.75% notes due July 31, 2027 500,000 — Other financing payable (including capital leases) in varying amounts due principally through 2020 with a weighted-average interest rate of 3.9% at December 31, 2019 and 2018. 9,827 1,606 Total debt obligations 795,015 605,394 Less: deferred financing costs (16,851 ) (13,243 ) Total debt obligations, net of deferred financing costs 778,164 592,151 Less: current maturities of long-term debt (2,666 ) (6,489 ) Long-term debt $ 775,498 $ 585,662 (a) All amounts related to the Senior Secured Credit Facilities were reflected as Long-term debt at December 31, 2019. The current portion of long-term debt related to the Senior Secured Credit Facilities was $5.4 million with the remainder reflected as Long-term debt at December 31, 2018. |
Schedule of Maturities of Long-term Debt | The maturities of long-term debt for the four years following December 31, 2020 are as follows: (In thousands) 2021 $ 2,191 2022 1,956 2023 1,846 2024 286,354 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Leases [Abstract] | |
Lease, Cost [Table Text Block] | Supplemental additional information related to leases is as follows: December 31 Other information: Weighted average remaining lease term - Operating leases (in years) 11.57 Weighted average remaining lease term - Finance leases (in years) 4.01 Weighted average discount rate - Operating leases 6.3 % Weighted average discount rate - Finance leases 4.2 % Supplemental cash flow information related to leases was as follows: Year Ended (In thousands) December 31 Cash paid for amounts included in the measurement of lease liabilities: Cash flows from operating activities - Operating leases $ 15,143 Cash flows from financing activities - Finance leases 1,317 Right-of-use assets obtained in exchange for lease obligations: Operating leases (a) $ 65,525 Finance leases 2,658 (a) Includes ROU assets of approximately $34 million that were recorded upon adoption at January 1, 2019 and $25.8 million that were recorded upon the acquisition of Clean Earth. See Note 2, Recently Adopted and Recently Issued Accounting Standards, and Note 3, Acquisitions and Dispositions, for additional information. Supplemental balance sheet information related to leases was as follows: (In thousands) December 31 Operating Leases: Operating lease right-of-use assets $ 52,065 Current portion of operating lease liabilities 12,544 Operating lease liabilities 36,974 Finance Leases: Property, plant and equipment, net $ 3,519 Current maturities of long-term debt 1,237 Long-term debt 2,218 The components of lease expense were as follows: Year Ended (In thousands) December 31 Finance leases: Amortization expense $ 1,234 Interest on lease liabilities 50 Operating leases 16,083 Short-term leases 22,281 Variable lease expense 1,189 Sublease income (198 ) Total lease expense from continuing operations $ 40,639 |
Schedule of Future Minimum Rental Payments for Operating Leases | As previously disclosed, under then in effect lease accounting in accordance with U.S. GAAP, future minimum payments under operating leases with noncancelable terms were as follows as of December 31, 2018 : (In thousands) 2019 $ 10,761 2020 8,938 2021 6,235 2022 4,602 2023 3,083 After 2023 17,170 |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Maturities of lease liabilities were as follows: (In thousand) Operating Leases Finance Leases Year Ending December 31 st : 2020 $ 15,045 $ 1,360 2021 11,159 908 2022 7,166 655 2023 5,044 477 2024 2,991 312 After 2024 31,932 3 Total lease payments 73,337 3,715 Less: Imputed interest (23,819 ) (260 ) Total $ 49,518 $ 3,455 |
Finance Lease, Liability, Maturity [Table Text Block] | Maturities of lease liabilities were as follows: (In thousand) Operating Leases Finance Leases Year Ending December 31 st : 2020 $ 15,045 $ 1,360 2021 11,159 908 2022 7,166 655 2023 5,044 477 2024 2,991 312 After 2024 31,932 3 Total lease payments 73,337 3,715 Less: Imputed interest (23,819 ) (260 ) Total $ 49,518 $ 3,455 |
Employee Benefit Plans (Tables)
Employee Benefit Plans (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |
Schedule of Net Benefit Costs | NPPC for U.S. and international plans for 2019 , 2018 and 2017 is as follows: U.S. Plans International Plans (In thousands) 2019 2018 2017 2019 2018 2017 Defined benefit pension plans: Service cost $ 39 $ 42 $ 43 $ 1,447 $ 1,669 $ 1,724 Interest cost 10,551 9,562 9,878 22,280 21,589 21,459 Expected return on plan assets (10,297 ) (12,068 ) (10,485 ) (37,430 ) (42,685 ) (40,469 ) Recognized prior service costs — 1 33 326 (140 ) 186 Recognized losses 5,585 5,207 5,701 14,345 14,807 16,283 Settlement/curtailment loss (gain) 129 285 — 19 (36 ) (20 ) Defined benefit pension plan cost (income) 6,007 3,029 5,170 987 (4,796 ) (837 ) Multiemployer pension plans 727 686 650 1,167 1,313 1,306 Defined contribution plans 4,178 3,466 3,021 6,031 5,608 5,905 Net periodic pension cost $ 10,912 $ 7,181 $ 8,841 $ 8,185 $ 2,125 $ 6,374 |
Schedule of Net Funded Status | The change in the financial status of the defined benefit pension plans and amounts recognized on the Consolidated Balance Sheets at December 31, 2019 and 2018 are as follows: U.S. Plans International Plans (In thousands) 2019 2018 2019 2018 Change in benefit obligation: Benefit obligation at beginning of year $ 286,027 $ 314,861 $ 874,679 $ 1,015,586 Service cost 39 42 1,447 1,669 Interest cost 10,551 9,562 22,280 21,589 Plan participants' contributions — — 36 49 Amendments — — 1,254 11,238 Actuarial (gain) loss 20,064 (21,474 ) 93,330 (78,658 ) Settlements/curtailments — — (343 ) (313 ) Benefits paid (15,842 ) (16,964 ) (37,396 ) (37,721 ) Effect of foreign currency — — 33,010 (58,760 ) Acquisitions/divestitures (6,146 ) — (9 ) — Benefit obligation at end of year $ 294,693 $ 286,027 $ 988,288 $ 874,679 U.S. Plans International Plans (In thousands) 2019 2018 2019 2018 Change in plan assets: Fair value of plan assets at beginning of year $ 205,388 $ 229,941 $ 744,538 $ 842,717 Actual return on plan assets 37,665 (17,883 ) 108,235 (30,004 ) Employer contributions 8,306 10,294 21,121 18,415 Plan participants' contributions — — 36 49 Settlements/curtailments — — (343 ) (313 ) Benefits paid (15,842 ) (16,964 ) (37,217 ) (37,570 ) Effect of foreign currency — — 28,275 (48,756 ) Acquisitions/divestitures (9,249 ) — (9 ) — Fair value of plan assets at end of year $ 226,268 $ 205,388 $ 864,636 $ 744,538 Funded status at end of year $ (68,425 ) $ (80,639 ) $ (123,652 ) $ (130,141 ) |
Schedule of Amounts Recognized in Balance Sheet | Amounts recognized on the Consolidated Balance Sheets for defined benefit pension plans consist of the following at December 31, 2019 and 2018 : U.S. Plans International Plans December 31 December 31 (In thousands) 2019 2018 2019 2018 Noncurrent assets $ — $ 1,953 $ 987 $ 2,379 Current liabilities 1,980 1,954 697 643 Noncurrent liabilities 64,465 80,638 123,942 131,876 Liabilities of assets held-for-sale 1,980 — — — Accumulated other comprehensive loss 133,806 149,326 415,781 391,849 |
Schedule of Net Periodic Benefit Cost Not yet Recognized | Amounts recognized in Accumulated other comprehensive loss, for defined benefit pension plans consist of the following at December 31, 2019 and 2018 : U.S. Plans International Plans (In thousands) 2019 2018 2019 2018 Net actuarial loss $ 133,806 $ 149,326 $ 408,709 $ 384,666 Prior service cost — — 7,072 7,183 Total $ 133,806 $ 149,326 $ 415,781 $ 391,849 |
Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year | The estimated amounts that will be amortized from Accumulated other comprehensive loss into defined benefit pension plan NPPC in 2020 are as follows: (In thousands) U.S. Plans International Plans Net actuarial loss $ 5,085 $ 15,137 Prior service cost — 392 Total $ 5,085 $ 15,529 |
Schedule of Expected Benefit Payments | The expected benefit payments for defined benefit pension plans over the next ten years are as follows: (In millions) 2020 2021 2022 2023 2024 2025-2029 U.S. Plans $ 25.7 $ 17.5 $ 17.6 $ 17.5 $ 17.4 $ 84.7 International Plans 38.9 39.8 40.2 41.3 42.1 224.8 |
Schedule of Assumptions Used | The weighted-average actuarial assumptions used to determine the defined benefit pension plan obligations at December 31, 2019 and 2018 were as follows: U.S. Plans International Plans Global Weighted-Average December 31 December 31 December 31 2019 2018 2019 2018 2019 2018 Discount rates 3.2 % 4.2 % 2.1 % 2.9 % 2.4 % 3.2 % The weighted-average actuarial assumptions used to determine the defined benefit pension plan NPPC for 2019 , 2018 and 2017 were as follows: U.S. Plans December 31 International Plans December 31 Global Weighted-Average December 31 2019 2018 2017 2019 2018 2017 2019 2018 2017 Discount rates 4.2 % 3.5 % 4.0 % 2.9 % 2.6 % 2.8 % 3.2 % 2.8 % 3.1 % Expected long-term rates of return on plan assets 7.3 % 7.3 % 7.3 % 5.5 % 5.6 % 5.9 % 5.9 % 6.0 % 6.2 % |
Schedule of Accumulated Benefit Obligations | The accumulated benefit obligation for all defined benefit pension plans at December 31, 2019 and 2018 was as follows: U.S. Plans International Plans December 31 December 31 (In millions) 2019 2018 2019 2018 Accumulated benefit obligation $ 294.7 $ 286.0 $ 982.7 $ 869.4 |
Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets | The projected benefit obligation, accumulated benefit obligation and fair value of plan assets for defined benefit pension plans with accumulated benefit obligations in excess of plan assets at December 31, 2019 and 2018 were as follows: U.S. Plans International Plans December 31 December 31 (In millions) 2019 2018 2019 2018 Projected benefit obligation $ 294.7 $ 279.2 $ 966.3 $ 831.7 Accumulated benefit obligation 294.7 279.2 961.1 828.9 Fair value of plan assets 226.3 196.6 841.9 701.4 |
U.S. Plans | Pension Plan | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |
Schedule of Allocation of Plan Assets | The fair values of the Company's U.S. defined benefit pension plans' assets at December 31, 2018 by asset class are as follows: (In thousands) Total Level 1 Investments Valued at Net Asset Value Domestic equities: Common stocks $ 8,937 $ 8,937 $ — Mutual funds—equities 54,002 54,002 — International equities: Mutual funds—equities 45,195 45,195 — Fixed income investments: Mutual funds—bonds 88,107 88,107 — Other—mutual funds 7,703 7,703 — Cash and money market accounts 1,444 1,444 — Total $ 205,388 $ 205,388 $ — The asset allocations attributable to the Company's U.S. defined benefit pension plans at December 31, 2019 and 2018 , and the long-term target allocation of plan assets, by asset category, are as follows: Target Long-Term Allocation Percentage of Plan Assets December 31 U.S. Plans Asset Category 2019 2018 Domestic equity securities 26%-36% 30.8 % 30.6 % International equity securities 20%-30% 25.3 % 22.0 % Fixed income securities 31%-41% 34.8 % 42.9 % Cash and cash equivalents Less than 5% 0.8 % 0.7 % Other (a) 4%-14% 8.3 % 3.8 % (a) Investments within this caption include diversified global asset allocation funds and credit collection fund. The fair values of the Company's U.S. defined benefit pension plans' assets at December 31, 2019 by asset class are as follows: (In thousands) Total Level 1 Investments Valued at Net Asset Value (c) Domestic equities: Common stocks $ 8,285 $ 8,285 $ — Mutual funds—equities 61,346 61,346 — International equities: Mutual funds—equities 57,188 57,188 — Fixed income investments: Mutual funds—bonds 78,685 78,685 — Other—mutual funds 8,764 8,764 — Cash and money market accounts 1,816 1,816 — Other—partnerships/joint ventures 10,184 — 10,184 Total $ 226,268 $ 216,084 $ 10,184 |
International Plans | Pension Plan | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |
Schedule of Allocation of Plan Assets | The asset allocations attributable to the Company's international defined benefit pension plans at December 31, 2019 and 2018 and the long-term target allocation of plan assets, by asset category, are as follows: International Plans Asset Category Target Long-Term Allocation Percentage of Plan Assets December 31 2019 2018 Equity securities 29.0 % 31.6 % 29.2 % Fixed income securities 50.0 % 48.5 % 50.7 % Cash and cash equivalents — 0.3 % 0.3 % Other (b) 21.0 % 19.6 % 19.8 % (b) Investments within this caption include diversified growth funds and real estate funds. The fair values of the Company's international defined benefit pension plans' assets at December 31, 2018 by asset class are as follows: (In thousands) Total Level 1 Level 2 Equity securities: Mutual funds—equities $ 217,321 $ — $ 217,321 Fixed income investments: Mutual funds—bonds 372,094 — 372,094 Insurance contracts 5,620 5,620 Other: Other mutual funds 147,313 — 147,313 Cash and money market accounts 2,190 2,190 — Total $ 744,538 $ 2,190 $ 742,348 The fair values of the Company's international defined benefit pension plans' assets at December 31, 2019 by asset class are as follows: (In thousands) Total Level 1 Level 2 Equity securities: Mutual funds—equities $ 273,568 $ — $ 273,568 Fixed income investments: Mutual funds—bonds 413,249 — 413,249 Insurance contracts 5,705 — 5,705 Other: Other mutual funds 169,886 — 169,886 Cash and money market accounts 2,228 2,228 — Total $ 864,636 $ 2,228 $ 862,408 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Income Tax Disclosure [Abstract] | |
Schedule of Income before Income Tax, Domestic and Foreign | Income (loss) from continuing operations before income taxes and equity income as reported on the Consolidated Statements of Operations consists of the following: (In thousands) 2019 2018 2017 U.S. $ (13,934 ) $ 28,281 $ (9,235 ) International 70,405 85,368 84,637 Total income (loss) from continuing operations before income taxes and equity income $ 56,471 $ 113,649 $ 75,402 |
Schedule of Components of Income Tax Expense (Benefit) | Income tax expense as reported on the Consolidated Statements of Operations consists of the following: (In thousands) 2019 2018 2017 Income tax expense (benefit): Currently payable: U.S. federal $ 903 $ (7 ) $ 654 U.S. state 233 177 54 International 23,775 17,127 19,763 Total income taxes currently payable 24,911 17,297 20,471 Deferred U.S. federal (5,924 ) 1,854 46,372 Deferred U.S. state (1,303 ) (10,911 ) 1,121 Deferred international 2,530 (2,741 ) 10,226 Total income tax expense from continuing operations $ 20,214 $ 5,499 $ 78,190 |
Schedule of Effective Income Tax Rate Reconciliation | A reconciliation of the normal expected statutory U.S. federal income tax expense (benefit) to the actual Income tax expense from continuing operations as reported on the Consolidated Statements of Operations is as follows: (In thousands) 2019 2018 2017 U.S. federal income tax expense $ 11,859 $ 23,866 $ 26,391 U.S. state income taxes, net of federal income tax benefit (274 ) 566 642 U.S. other domestic deductions and credits (1,322 ) (2,407 ) (364 ) Difference in effective tax rates on international earnings and remittances 9,550 5,394 647 Uncertain tax position contingencies and settlements 310 (1,180 ) (1,518 ) Changes in realization on beginning of the year deferred tax assets 2,343 (6,937 ) 1,983 U.S. non-deductible expenses 2,554 1,128 609 Impact of U.S. tax reform 1,643 (11,686 ) 49,811 State deferred tax rate change (3,353 ) — 623 Foreign derived intangible income deduction — (2,366 ) — Employee share-based payments (3,064 ) (736 ) (346 ) Other, net (32 ) (143 ) (288 ) Total income tax expense from continuing operations $ 20,214 $ 5,499 $ 78,190 |
Schedule of Deferred Tax Assets and Liabilities | The income tax effects of the temporary differences giving rise to the Company's deferred tax assets and liabilities at December 31, 2019 and 2018 are as follows: 2019 2018 (In thousands) Asset Liability Asset Liability Depreciation and amortization (a) $ — $ 58,229 $ — $ 8,714 Expense accruals 18,421 — 18,827 — Inventories 4,568 — 3,071 — Provision for receivables 1,109 — 689 — Deferred revenue — 3,222 — 3,122 Operating loss carryforwards 85,378 — 81,755 — Foreign tax credit carryforwards 24,219 — 25,814 — Capital loss carryforwards — — 9,759 — Pensions 38,766 — 40,442 — Currency adjustments 462 — 3,796 — Deferred financing costs — 566 — 2,226 Post-retirement benefits 411 — 471 — Stock based compensation 6,572 — 5,832 — Other — 769 5,477 — Subtotal 179,906 62,786 195,933 14,062 Valuation allowance (127,074 ) — (137,450 ) — Total deferred income taxes $ 52,832 $ 62,786 $ 58,483 $ 14,062 (a) The increase in 2019 is primarily related to the Clean Earth acquisition. See Note 3, Acquisitions and Dispositions, for additional information. The deferred tax asset and liability balances recognized on the Consolidated Balance Sheets at December 31, 2019 and 2018 are as follows: (In thousands) 2019 2018 Deferred income tax assets $ 14,288 $ 48,551 Other liabilities 24,242 4,130 |
Summary of Income Tax Contingencies | A reconciliation of the change in the unrecognized income tax benefits balance from January 1, 2017 to December 31, 2019 is as follows: (In thousands) Unrecognized Income Tax Benefits Deferred Income Tax Benefits Unrecognized Income Tax Benefits, Net of Deferred Income Tax Benefits Balances, January 1, 2017 $ 4,582 $ (30 ) $ 4,552 Additions for tax positions related to the current year (includes currency translation adjustment) 658 (2 ) 656 Other reductions for tax positions related to prior years (321 ) — (321 ) Statutes of limitation expirations (1,296 ) 1 (1,295 ) Balance at December 31, 2017 3,623 (31 ) 3,592 Additions for tax positions related to the current year (includes currency translation adjustment) 196 (1 ) 195 Statutes of limitation expirations (1,397 ) 6 (1,391 ) Balance at December 31, 2018 2,422 (26 ) 2,396 Additions for tax positions related to the current year (includes currency translation adjustment) 414 (7 ) 407 Additions for tax positions related to prior years (includes currency translation adjustment) 681 — 681 Statutes of limitation expirations (326 ) 2 (324 ) Settlements (62 ) 9 (53 ) Total unrecognized income tax benefits that, if recognized, would impact the effective income tax rate at December 31, 2019 $ 3,129 $ (22 ) $ 3,107 |
Capital Stock (Tables)
Capital Stock (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Equity [Abstract] | |
Schedule of Common Stock Outstanding Roll Forward | The following table summarizes the Company's common stock: Shares Issued Treasury Shares (a) Outstanding Shares Outstanding, January 1, 2017 112,499,874 32,324,911 80,174,963 Shares issued for vested restricted stock units 375,355 105,431 269,924 Stock appreciation rights exercised 12,897 3,932 8,965 Outstanding, December 31, 2017 112,888,126 32,434,274 80,453,852 Shares issued for vested restricted stock units 545,908 161,774 384,134 Stock appreciation rights exercised 39,917 11,808 28,109 Treasury shares purchased — 1,321,072 (1,321,072 ) Outstanding, December 31, 2018 113,473,951 33,928,928 79,545,023 Shares issued for vested restricted stock units 321,965 125,863 196,102 Shares issued for vested performance stock units 908,566 379,353 529,213 Stock appreciation rights exercised 15,865 4,619 11,246 Treasury shares purchased — 1,766,826 (1,766,826 ) Outstanding, December 31, 2019 114,720,347 36,205,589 78,514,758 (a) The Company repurchases shares in connection with the issuance of shares under stock-based compensation programs and in accordance with Board authorized share repurchase programs. |
Schedule of Earnings Per Share, Basic and Diluted | The following is a reconciliation of the average shares of common stock used to compute basic earnings per common share to the shares used to compute diluted earnings per common share as shown on the Consolidated Statements of Operations: (In thousands, except per share data) 2019 2018 2017 Income (loss) from continuing operations attributable to Harsco Corporation common stockholders $ 28,231 $ 100,578 $ (6,810 ) Weighted-average shares outstanding—basic 79,632 80,716 80,553 Dilutive effect of stock-based compensation 1,743 2,879 — Weighted-average shares outstanding—diluted 81,375 83,595 80,553 Income (loss) from continuing operations per common share, attributable to Harsco Corporation common stockholders: Basic $ 0.35 $ 1.25 $ (0.08 ) Diluted $ 0.35 $ 1.20 $ (0.08 ) |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share | The following average outstanding stock-based compensation units were not included in the computation of diluted earnings per share because the effect was antidilutive: (In thousands) 2019 2018 2017 Restricted stock units — — 934 Stock options — — 52 Stock appreciation rights 491 306 1,737 Performance share units 124 — 948 |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Schedule of restricted stock units issued and compensation expense | The following table summarizes RSUs issued and the compensation expense recorded for the years ended December 31, 2019 , 2018 , and 2017 : RSUs (a) Weighted Average Fair Value Expense (Dollars in thousands, except per unit) 2019 2018 2017 Directors: 2016 109,998 $ 7.00 $ — $ — $ 257 2017 56,203 13.70 — 179 641 2018 43,821 20.54 280 511 — 2019 14,211 25.33 240 — — Employees: 2014 190,832 25.21 — — 295 2015 239,679 16.53 — 193 498 2016 536,773 7.09 290 835 909 2017 286,251 13.70 832 910 1,325 2018 242,791 19.93 1,208 1,546 — 2019 270,864 22.25 1,620 — — Total $ 4,470 $ 4,174 $ 3,925 (a) Represents number of awards originally issued. |
Schedule of restricted stock unit activity | RSU activity for the year ended December 31, 2019 was as follows: Number of Shares Weighted Average Grant-Date Fair Value Non-vested at December 31, 2018 583,380 $ 15.08 Granted 285,075 22.40 Vested (348,572 ) 13.38 Forfeited (53,274 ) 20.01 Non-vested at December 31, 2019 466,609 20.26 |
Schedule of Stock Appreciation Rights award activity | SARs activity for the year ended December 31, 2019 was as follows: Number of Shares Weighted Average Exercise Price Aggregate Intrinsic Value (in millions) (b) Outstanding, December 31, 2018 1,745,447 $ 15.73 $ 8.9 Granted 229,344 22.79 Exercised (43,594 ) 15.87 Forfeited/Expired (22,977 ) 26.94 Outstanding, December 31, 2019 1,908,220 16.44 13.0 (b) Intrinsic value is defined as the difference between the current market value and the exercise price, for those SARs where the market price exceeds the exercise price. |
Schedule of nonvested awards activity | The following table summarizes information concerning outstanding and exercisable SARs at December 31, 2019 : SARs Outstanding SARs Exercisable Range of exercisable prices Vested Non-vested Weighted-Average Exercise Price per Share Weighted-Average Remaining Contractual Life in Years Number Exercisable Weighted-Average Exercise Price per Share $7.00 - $13.70 624,693 83,654 $ 9.42 6.65 624,693 $ 8.85 $16.53 - $22.70 584,950 361,000 19.45 6.60 584,950 18.23 $23.03 - $26.92 248,841 5,082 24.78 4.45 248,841 24.79 1,458,484 449,736 16.44 6.33 1,458,484 15.33 |
Stock Appreciation Rights (SARs) | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Schedule of stock appreciation rights valuation assumptions | he fair value of each SAR grant was estimated on the grant date using a Black-Scholes pricing model with the following assumptions: Risk-free Interest rate Dividend Yield Expected Life (Years) Volatility SAR Grant Price Fair Value of SAR March 2017 Grant 2.17 % — % 6.0 43.9 % $ 13.70 $ 6.13 March 2018 Grant 2.69 % — % 6.0 44.6 % 19.80 9.16 July 2018 Grant 2.87 % — % 6.0 44.7 % 24.65 11.48 March 2019 Grant 2.52 % — % 6.0 46.2 % 22.51 10.62 July 2019 Grant 1.84 % — % 6.0 47.1 % 27.39 12.80 |
Schedule of weighted-average grant-date fair value of unvested options | Weighted-average grant date fair value of non-vested SARs for the year ended December 31, 2019 was as follows: Number of Shares Weighted-Average Grant Date Fair Value Non-vested shares, December 31, 2018 467,478 $ 6.65 Granted 229,344 10.75 Vested (233,842 ) 5.17 Forfeited (13,244 ) 12.80 Non-vested shares, December 31, 2019 449,736 9.32 |
Performance Stock Units | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Schedule of stock appreciation rights valuation assumptions | The fair value of PSUs granted was estimated on the grant date using a Monte Carlo pricing model with the following assumptions: Risk-free Interest rate Dividend Yield Expected Life (Years) Volatility Fair Value of PSU March 2017 Grant 1.54 % — % 2.83 34.2 % $ 17.05 March 2018 Grant 2.36 % — % 2.83 34.7 % 29.56 July 2018 Grant 2.69 % — % 2.42 33.1 % 39.06 March 2019 Grant 2.48 % — % 2.82 33.8 % 29.04 July 2019 Grant 1.75 % — % 2.50 34.3 % 40.07 August 2019 Grant 1.57 % — % 2.41 34.9 % 23.38 |
Schedule of weighted-average grant-date fair value of unvested options | A summary of the Company's non-vested PSU activity during the year ending December 31, 2019 was as follows: Number of Shares Weighted-Average Grant Date Fair Value Non-vested shares, December 31, 2018 494,882 $ 23.13 Granted 277,307 28.51 Forfeited (70,391 ) 26.23 Vested, not issued (c) (236,214 ) 17.05 Non-vested shares, December 31, 2019 465,584 28.95 |
Financial Instruments (Tables)
Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Fair value of outstanding derivative contracts recorded as assets and liabilities | The fair value of outstanding derivative contracts recorded as assets and liabilities on the Consolidated Balance Sheets was as follows: (In thousands) Balance Sheet Location Fair Value of Derivatives Designated as Hedging Instruments Fair Value of Derivatives Not Designated as Hedging Instruments Total Fair Value December 31, 2019 Asset derivatives (Level 2): Foreign currency exchange forward contracts Other current assets $ 2,039 $ 946 $ 2,985 Total $ 2,039 $ 946 $ 2,985 Liability derivatives (Level 2): Foreign currency exchange forward contracts Other current liabilities $ 140 $ 3,733 $ 3,873 Interest rate swaps Other current liabilities 2,098 — 2,098 Interest rate swaps Other liabilities 4,281 — 4,281 Total $ 6,519 $ 3,733 $ 10,252 December 31, 2018 Asset derivatives (Level 2): Foreign currency exchange forward contracts Other current assets $ 2,970 $ 589 $ 3,559 Interest rate swaps Other current assets 1,331 — 1,331 Interest rate swaps Other assets 128 — 128 Total $ 4,429 $ 589 $ 5,018 Liability derivatives (Level 2): Foreign currency exchange forward contracts Other current liabilities $ 24 $ 2,910 $ 2,934 Interest rate swaps Other liabilities 1,849 — 1,849 Total $ 1,873 $ 2,910 $ 4,783 |
Derivative Instruments, Gain (Loss) [Table Text Block] | The effect of derivative instruments on the Consolidated Statements of Operations and the Consolidated Statements of Comprehensive Income (Loss): Derivatives Designated as Hedging Instruments Amount Recognized in Other Comprehensive Income (“OCI”) on Derivatives Location of Amount Reclassified from Accumulated OCI into Income Amount Reclassified from Accumulated OCI into Income - Effective Portion or Equity (In thousands) 2019 2018 2017 2019 2018 2017 Foreign currency exchange forward contracts $ (1,227 ) $ 1,935 $ 3,547 Product revenues/Cost of services sold $ (506 ) $ (374 ) $ (954 ) Foreign currency exchange forward contracts (a) — — — Retained earnings (b) — (1,520 ) — Interest rate swaps — — — Income from discontinued businesses 2,741 — — Interest rate swaps (8,209 ) 1,451 (734 ) Interest expense (520 ) (1,108 ) — Cross-currency interest rate swaps (a) (42 ) 63 (205 ) Interest expense 1,219 1,264 1,002 $ (9,478 ) $ 3,449 $ 2,608 $ 2,934 $ (1,738 ) $ 48 (a) Amounts represent changes in foreign currency translation related to balances in Accumulated other comprehensive loss. (b) The Company adopted the new revenue recognition standard utilizing the modified retrospective transition method, including use of practical expedients in 2018. |
Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block] | The location and amount of gain (loss) recognized on the Consolidated Statements of Operations: 2019 (in thousands) Product Revenues Cost of Services Sold Interest Expense Income From Discontinued Businesses Total amounts of line items presented in the statement of operations in which the effects of cash flow hedges are recorded $ 422,269 $ 839,156 $ (36,586 ) $ 27,531 Interest rate swaps: Amount of gain (loss) reclassified from accumulated other comprehensive loss into income — — 520 — Amount of gain (loss) reclassified from accumulated other comprehensive loss into income as a result that a forecasted transaction is no longer probable of occurring — — — (2,741 ) Foreign exchange contracts: Amount of gain (loss) reclassified from accumulated other comprehensive loss into income 550 (44 ) — — Amount excluded from effectiveness testing recognized in earnings based on changes in fair value 509 — — — Cross-currency interest rate swaps: Amount of gain (loss) reclassified from accumulated other comprehensive loss into income — — (1,219 ) — 2018 (in thousands) Product Revenues Cost of Services Sold Interest Expense Total amounts of line items presented in the statement of operations in which the effects of cash flow hedges are recorded $ 392,208 $ 745,748 $ (21,531 ) Interest rate swaps: Amount of gain (loss) reclassified from accumulated other comprehensive loss into income — — 1,108 Foreign exchange contracts: Amount of gain (loss) reclassified from accumulated other comprehensive loss into income 374 — — Amount excluded from effectiveness testing recognized in earnings based on changes in fair value (440 ) 1 — Cross-currency interest rate swaps: Amount of gain (loss) reclassified from accumulated other comprehensive loss into income — — (1,264 ) 2017 (in thousands) Product Revenues Cost of Services Sold Interest Expense Total amounts of line items presented in the statement of operations in which the effects of cash flow hedges are recorded $ 373,188 $ 737,499 $ (26,862 ) Foreign exchange contracts: Amount of gain (loss) reclassified from accumulated other comprehensive loss into income 936 18 — Amount excluded from effectiveness testing recognized in earnings based on changes in fair value (105 ) — — Cross-currency interest rate swaps: Amount of gain (loss) reclassified from accumulated other comprehensive loss into income — — (1,002 ) Amount excluded from the effectiveness testing recognized in earnings based an amortization approach — — (420 ) |
Derivatives Not Designated as Hedging Instruments | Derivatives Not Designated as Hedging Instruments Location of Gain (Loss) Recognized in Income on Derivatives Amount of Gain (Loss) Recognized in Income on Derivatives for the Twelve Months Ended December 31(c) (In thousands) 2019 2018 2017 Foreign currency exchange forward contracts Cost of services and products sold $ 6,807 $ 17,262 $ (23,572 ) (c) These gains (losses) offset amounts recognized in cost of service and products sold principally as a result of intercompany or third-party foreign currency exposures. |
Information by Segment and Ge_2
Information by Segment and Geographic Area (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Segment Reporting [Abstract] | |
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas | Countries with revenues from unaffiliated customers or net property, plant and equipment of ten percent or more of the consolidated totals (in at least one period presented) are as follows: Information by Geographic Area (a) Revenues from Unaffiliated Customers Year Ended December 31 (In thousands) 2019 2018 2017 U.S. $ 640,390 $ 458,383 $ 423,888 U.K. 144,689 143,346 146,624 All Other 718,663 745,943 736,958 Totals including Corporate $ 1,503,742 $ 1,347,672 $ 1,307,470 (a) Revenues are attributed to individual countries based on the location of the facility generating the revenue. |
Schedule of Disclosure on Geographic Areas, Long-Lived Assets in Individual Foreign Countries by Country [Table Text Block] | Property, Plant and Equipment, Net Balances at December 31 (In thousands) 2019 2018 2017 U.S. $ 193,692 $ 98,851 $ 86,266 China 99,369 89,502 95,562 Brazil 37,047 36,960 54,704 All Other 231,678 207,480 208,151 Totals including Corporate $ 561,786 $ 432,793 $ 444,683 |
Schedule of Segment Operating Information by Segment | Operating Information by Segment: Twelve Months Ended December 31 (In thousands) 2019 2018 2017 Revenues Harsco Environmental $ 1,034,847 $ 1,068,304 $ 1,011,328 Harsco Clean Earth 169,522 — — Harsco Rail 299,373 279,294 295,999 Corporate — 74 143 Total Revenues $ 1,503,742 $ 1,347,672 $ 1,307,470 Operating Income (Loss) Harsco Environmental $ 112,298 $ 121,195 $ 102,362 Harsco Clean Earth 20,009 — — Harsco Rail 23,708 37,341 32,953 Corporate (51,736 ) (27,841 ) (30,660 ) Total Operating Income $ 104,279 $ 130,695 $ 104,655 Twelve Months Ended December 31 (In thousands) 2019 2018 2017 Total Assets Harsco Environmental $ 1,296,061 $ 1,230,152 $ 1,184,280 Harsco Clean Earth 745,410 — — Harsco Rail 246,377 186,049 237,135 Corporate 26,037 53,342 43,860 Discontinued Operations 53,582 163,324 113,410 Total Assets $ 2,367,467 $ 1,632,867 $ 1,578,685 Depreciation and Amortization Harsco Environmental $ 112,126 $ 115,059 $ 112,329 Harsco Clean Earth 12,855 — — Harsco Rail 4,875 4,287 4,221 Corporate 5,238 5,710 6,027 Total Depreciation and Amortization $ 135,094 $ 125,056 $ 122,577 Capital Expenditures Harsco Environmental $ 153,694 $ 114,142 $ 87,526 Harsco Clean Earth 5,870 — — Harsco Rail 15,274 9,152 2,403 Corporate 1,762 1,313 1,490 Total Capital Expenditures $ 176,600 $ 124,607 $ 91,419 |
Reconciliation of Operating Profit (Loss) from Segments to Consolidated | Reconciliation of Segment Operating Income to Consolidated Income From Continuing Operations Before Income Taxes and Equity Income: Twelve Months Ended December 31 (In thousands) 2019 2018 2017 Segment operating income $ 156,015 $ 158,536 $ 135,315 General Corporate expense (51,736 ) (27,841 ) (30,660 ) Operating income from continuing operations 104,279 130,695 104,655 Interest income 1,975 2,155 2,469 Interest expense (36,586 ) (21,531 ) (26,862 ) Defined benefit pension income (expense) (5,493 ) 3,457 (2,595 ) Loss on early extinguishment of debt (7,704 ) (1,127 ) (2,265 ) Income from continuing operations before income taxes and equity income $ 56,471 $ 113,649 $ 75,402 |
Revenue Recognition (Tables)
Revenue Recognition (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Revenue from Contract with Customer [Abstract] | |
Summary of revenues by primary geographical markets | A summary of the Company's revenues by primary geographical markets as well as by key product and service groups is as follows: Twelve Months Ended December 31, 2019 (In thousands) Harsco Environmental Segment Harsco Clean Earth Segment Harsco Rail Segment Corporate Consolidated Totals Primary Geographical Markets (a) : North America $ 294,367 $ 169,522 $ 221,724 $ — $ 685,613 Western Europe 386,593 — 44,569 — 431,162 Latin America (b) 146,040 — 2,588 — 148,628 Asia-Pacific 128,949 — 30,492 — 159,441 Middle East and Africa 60,402 — — — 60,402 Eastern Europe 18,496 — — — 18,496 Total Revenues (c) $ 1,034,847 $ 169,522 $ 299,373 $ — $ 1,503,742 Key Product and Service Groups: Environmental services related to resource recovery for metals manufacturing; and related logistical services $ 881,696 $ — $ — $ — $ 881,696 Applied products 127,875 — — — 127,875 Environmental systems for aluminum dross and scrap processing 25,276 — — — 25,276 Railway track maintenance equipment — — 145,968 — 145,968 After-market parts and services; safety and diagnostic technology — — 132,249 — 132,249 Railway contracting services — — 21,156 — 21,156 Waste processing and reuse solutions — 169,522 — — 169,522 General Corporate — — — — — Total Revenues (c) $ 1,034,847 $ 169,522 $ 299,373 $ — $ 1,503,742 Twelve Months Ended December 31, 2018 (In thousands) Harsco Environmental Segment Harsco Clean Earth Segment Harsco Rail Segment Corporate Consolidated Totals Primary Geographical Markets (a) : North America $ 302,238 $ — $ 205,212 $ 74 $ 507,524 Western Europe 390,840 — 48,016 — 438,856 Latin America (b) 151,886 — 3,977 — 155,863 Asia-Pacific 145,761 — 22,089 — 167,850 Middle East and Africa 50,003 — — — 50,003 Eastern Europe 27,576 — — — 27,576 Total Revenues (c) $ 1,068,304 $ — $ 279,294 $ 74 $ 1,347,672 Key Product and Service Groups: Environmental services related to resource recovery for metals manufacturing; and related logistical services $ 924,766 $ — $ — $ — $ 924,766 Applied products 128,488 — — — 128,488 Environmental systems for aluminum dross and scrap processing 15,050 — — — 15,050 Railway track maintenance equipment — — 112,547 — 112,547 After-market parts and services; safety and diagnostic technology — — 139,020 — 139,020 Railway contracting services — — 27,727 — 27,727 Waste processing and reuse solutions — — — — — General Corporate — — — 74 74 Total Revenues (c) $ 1,068,304 $ — $ 279,294 $ 74 $ 1,347,672 Twelve Months Ended December 31, 2017 (In thousands) Harsco Environmental Segment Harsco Clean Earth Segment Harsco Rail Segment Corporate Consolidated Totals Primary Geographical Markets (a) : North America $ 274,476 $ — $ 196,567 $ 143 $ 471,186 Western Europe 369,763 — 78,698 — 448,461 Latin America (b) 159,130 — 2,827 — 161,957 Asia-Pacific 138,311 — 17,907 — 156,218 Middle East and Africa 42,700 — — — 42,700 Eastern Europe 26,948 — — — 26,948 Total Revenues (c) $ 1,011,328 $ — $ 295,999 $ 143 $ 1,307,470 Key Product and Service Groups: Environmental services related to resource recovery for metals manufacturing; and related logistical services $ 890,371 $ — $ — $ — $ 890,371 Applied products 120,957 — — — 120,957 Environmental systems for aluminum dross and scrap processing — — — — — Railway track maintenance equipment — — 146,267 — 146,267 After-market parts and services; safety and diagnostic technology — — 110,195 — 110,195 Railway contracting services — — 39,537 — 39,537 Waste processing and reuse solutions — — — — — General Corporate — — — 143 143 Total Revenues (c) $ 1,011,328 $ — $ 295,999 $ 143 $ 1,307,470 (a) Revenues are attributed to individual countries based on the location of the facility generating the revenue. (b) Includes Mexico. (c) The Company has adopted the new revenue recognition standard utilizing the modified retrospective transition method, including use of practical expedients. Comparative information has not been restated and continues to be reported under U.S. GAAP in effect for those periods. See Note 2, Recently Adopted and Recently Issued Accounting Standards for additional information. |
Other Expenses (Tables)
Other Expenses (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Other Income and Expenses [Abstract] | |
Schedule of other expenses (income) | The major components of this Consolidated Statements of Operations caption are as follows: (In thousands) 2019 2018 2017 Net gains Harsco Environmental Segment $ (6,303 ) $ (2,650 ) $ (1,354 ) Corporate — (1,218 ) — Total net gains (6,303 ) (3,868 ) (1,354 ) Employee termination benefit costs Harsco Environmental Segment 1,254 2,853 4,411 Clean Earth Segment 1,960 — — Harsco Rail Segment 2,393 704 1,133 Corporate 1,012 1,206 1,189 Total employee termination benefit costs 6,619 4,763 6,733 Other costs to exit activities Harsco Environmental Segment 970 352 706 Harsco Rail Segment 3,042 — — Corporate 196 (182 ) 556 Total other costs to exit activities 4,208 170 1,262 Impaired asset write-downs Harsco Environmental Segment 632 104 706 Harsco Rail Segment 141 — — Corporate — — 168 Total impaired asset write-downs 773 104 874 Contingent consideration adjustments Harsco Environmental Segment (8,506 ) (2,939 ) — Harsco Clean Earth Segment 825 — — Total contingent consideration adjustments (7,681 ) (2,939 ) — Other income (237 ) (431 ) (188 ) Total other (income) expenses, net $ (2,621 ) $ (2,201 ) $ 7,327 |
Components of Accumulated Oth_2
Components of Accumulated Other Comprehensive Loss (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract] | |
Components of accumulated other comprehensive loss | The components of Accumulated other comprehensive loss, net of the effect of income taxes, and activity for the years ended December 31, 2019 and 2018 are as follows: Components of Accumulated Other Comprehensive Income (Loss) - Net of Tax (In thousands) Cumulative Foreign Exchange Translation Adjustments Effective Portion of Derivatives Designated as Hedging Instruments Cumulative Unrecognized Actuarial Losses on Pension Obligations Unrealized Loss on Marketable Securities Total Balance at December 31, 2017 $ (111,567 ) $ 808 $ (435,840 ) $ 17 $ (546,582 ) Adoption of new accounting standard — (1,520 ) — — (1,520 ) Balance at January 1, 2018 (111,567 ) (712 ) (435,840 ) 17 (548,102 ) Other comprehensive income (loss) before reclassifications (50,743 ) (a) 2,466 (b) 8,450 (c) (48 ) (39,875 ) Amounts reclassified from accumulated other comprehensive loss, net of tax — (365 ) 18,735 — 18,370 Total other comprehensive income (loss) (50,743 ) 2,101 27,185 (48 ) (21,505 ) Less: Other comprehensive loss attributable to noncontrolling interests 2,500 — — — 2,500 Other comprehensive income (loss) attributable to Harsco Corporation (48,243 ) 2,101 27,185 (48 ) (19,005 ) Balance at December 31, 2018 $ (159,810 ) $ 1,389 $ (408,655 ) $ (31 ) $ (567,107 ) Components of Accumulated Other Comprehensive Income (Loss) - Net of Tax (In thousands) Cumulative Foreign Exchange Translation Adjustments Effective Portion of Derivatives Designated as Hedging Instruments Cumulative Unrecognized Actuarial Losses on Pension Obligations Unrealized Loss on Marketable Securities Total Balance at December 31, 2018 $ (159,810 ) $ 1,389 $ (408,655 ) $ (31 ) $ (567,107 ) Adoption of new accounting standard (c) — — (21,429 ) — (21,429 ) Balance at January 1, 2019 (159,810 ) 1,389 (430,084 ) (31 ) (588,536 ) Other comprehensive income (loss) before reclassifications 17,261 (a) (7,050 ) (b) (32,274 ) (c) 28 (22,035 ) Amounts reclassified from accumulated other comprehensive loss, net of tax (1,763 ) 1,944 21,796 — 21,977 Total other comprehensive income (loss) 15,498 (5,106 ) (10,478 ) 28 (58 ) Less: Other comprehensive loss attributable to noncontrolling interests 972 — — — 972 Other comprehensive income (loss) attributable to Harsco Corporation 16,470 (5,106 ) (10,478 ) 28 914 Balance at December 31, 2019 $ (143,340 ) $ (3,717 ) $ (440,562 ) $ (3 ) $ (587,622 ) (a) Principally foreign currency fluctuation. (b) Principally net change from periodic revaluations. (c) Principally changes due to annual actuarial remeasurements and foreign currency translation. |
Amounts reclassified out of accumulated other comprehensive loss | Amounts reclassified from accumulated other comprehensive loss for 2019 and 2018 are as follows: Year Ended December 31 2019 Year Ended December 31 2018 Affected Caption on the Consolidated Statements of Operations (In thousands) Amortization of defined benefit pension items (d) : Actuarial losses $ 19,806 $ 20,014 Defined benefit pension income (expense) Prior-service costs 326 (139 ) Defined benefit pension income (expense) Pension asset transfer - discontinued businesses 3,200 — Gain on sale of discontinued businesses Settlement/curtailment losses 19 249 Defined benefit pension income (expense) Total before tax 23,351 20,124 Tax benefit (1,555 ) (1,389 ) Total reclassification of defined benefit pension items, net of tax $ 21,796 $ 18,735 Recognition of cumulative foreign currency translation adjustments: Gain on substantial liquidation of subsidiaries (e) $ (2,425 ) $ — Other (income) expenses, net Loss on substantial liquidation of subsidiaries (e) 662 — Gain on sale of discontinued business Amortization of cash flow hedging instruments: Foreign currency exchange forward contracts $ (550 ) $ (374 ) Product revenues Foreign currency exchange forward contracts 44 — Cost of services and products sold Cross-currency interest rate swaps 1,219 1,264 Interest expense Interest rate swaps (520 ) (1,108 ) Interest expense Interest rate swaps 2,741 — Income from discontinued businesses Total before tax 2,934 (218 ) Tax benefit (990 ) (147 ) Total reclassification of cash flow hedging instruments $ 1,944 $ (365 ) (d) These accumulated other comprehensive loss components are included in the computation of NPPC. See Note 9, Employee Benefit Plans, for additional information. (e) No tax impact. |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | |
Accounting Policies [Abstract] | |||
Restricted cash | $ 2,473 | $ 2,886 | |
SBB [Member] | |||
Customer [Line Items] | |||
Change in Margin | 2.00% |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies (Details 3) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Warranty activity | |||
Warranty reserves, beginning of the year | $ 5,243 | $ 5,486 | $ 6,001 |
Accruals for warranties issued during the year | 4,134 | 3,837 | 4,533 |
Reductions related to pre-existing warranties | (2,748) | (3,320) | (3,428) |
Standard Product Warranty Accrual, Additions from Business Acquisition | 0 | 249 | 0 |
Warranties paid | (649) | (942) | (1,637) |
Other (principally foreign currency translation) | (60) | (67) | 17 |
Warranty reserves, beginning of the year | 5,920 | 5,243 | 5,486 |
Self-insurance | |||
Loss Contingencies [Line Items] | |||
Insurance expense from continuing operations | 15,400 | 13,500 | 16,000 |
Decrease in pre-tax insurance expense due to retrospective insurance reserve adjustments from continuing operations | 1,500 | 2,000 | $ 1,500 |
Liabilities for asserted and unasserted claims | 28,700 | 60,300 | |
Liabilities covered by insurance carriers | $ 3,700 | $ 34,200 |
Summary of Significant Accoun_6
Summary of Significant Accounting Policies (Details 4) | 12 Months Ended |
Dec. 31, 2019 | |
Foreign currency exchange forward contracts | Maximum | |
Derivative [Line Items] | |
Maximum typical term of foreign currency forward exchange contracts (in days) | 90 days |
Recently Adopted and Recently_3
Recently Adopted and Recently Issued Accounting Standards - Narrative (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Jan. 01, 2019 | Dec. 31, 2018 |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Right-of-use assets, net | $ 52,065 | $ 34,000 | $ 0 |
Stranded income tax effects | 21,000 | ||
Operating Lease, Liability | $ 49,518 | $ 34,200 |
Acquisitions and Dispositions -
Acquisitions and Dispositions - Narrative (Details) $ in Thousands, £ in Millions | Jun. 28, 2019USD ($)facility | Jun. 28, 2019USD ($)facility | Jun. 28, 2019USD ($)facilitypermit | Jun. 28, 2019USD ($)facility | Jun. 28, 2019USD ($)facilityTSDF_permits | Jun. 28, 2019USD ($)facilityRCRA_permits | Jan. 31, 2020USD ($) | Nov. 30, 2019USD ($) | May 31, 2018GBP (£) | May 31, 2018USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Jul. 01, 2019USD ($) | May 31, 2018USD ($) |
Business Acquisition [Line Items] | |||||||||||||||
Number Of Permits Acquired | permit | 200 | ||||||||||||||
Interest expense | $ (36,586) | $ (21,531) | $ (26,862) | ||||||||||||
Payments to Acquire Businesses, Net of Cash Acquired | 623,495 | 56,389 | 0 | ||||||||||||
Proceeds from Divestiture of Businesses | 658,414 | 0 | 0 | ||||||||||||
Clean Earth | |||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||
Business Acquisition, Percentage of Voting Interests Acquired | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | |||||||||
Business Combination, Consideration Transferred | $ 625,000 | ||||||||||||||
Purchase price | 628,000 | ||||||||||||||
Business Combination, Contingent Consideration Arrangements, Post-Closing Period | 5 years | ||||||||||||||
Estimated preliminary fair value | $ 8,000 | $ 8,000 | $ 8,000 | $ 8,000 | $ 8,000 | $ 8,000 | |||||||||
Number of Stores | facility | 27 | 27 | 27 | 27 | 27 | 27 | |||||||||
Number Of Permits Acquired | 1 | 6 | 9 | ||||||||||||
Tax deductible Goodwill (less than) | $ 16,300 | $ 16,300 | $ 16,300 | $ 16,300 | $ 16,300 | $ 16,300 | |||||||||
Costs associated with the acquisition | 15,200 | ||||||||||||||
Altek | |||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||
Purchase price | $ 57,400 | ||||||||||||||
Estimated preliminary fair value | $ 12,100 | ||||||||||||||
Payments to Acquire Businesses, Net of Cash Acquired | £ 45 | $ 60,000 | |||||||||||||
Additional contingent consideration | £ 25 | $ 33,000 | |||||||||||||
Harsco Industrial | Discontinued Operations, Held-for-sale [Member] | |||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||
Disposal Group, Including Discontinued Operation, Corporate Overhead | 4,000 | 5,600 | $ 5,600 | ||||||||||||
Harsco Industrial Patterson-Kelley [Member] | Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | |||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||
Disposal Group, Net Gain on Disposal, After Tax | $ 41,200 | ||||||||||||||
Disposal Group, Net Gain on Disposal | 33,000 | ||||||||||||||
Proceeds from Divestiture of Businesses | $ 60,000 | ||||||||||||||
Harsco Industrial Air-X-Changers Business [Member] | Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | |||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||
Disposal Group, Including Discontinued Operation, Consideration | $ 600,000 | ||||||||||||||
Disposal Group, Net Gain on Disposal, After Tax | 527,900 | ||||||||||||||
Disposal Group, Net Gain on Disposal | $ 421,000 | ||||||||||||||
Subsequent Event [Member] | Harsco Industrial IKG [Member] | Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | |||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||
Proceeds from Divestiture of Businesses | $ 85,000 | ||||||||||||||
Acquisition-related Costs [Member] | Clean Earth | |||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||
Interest expense | $ (18,000) | $ (36,000) |
Acquisitions and Dispositions_2
Acquisitions and Dispositions - Summary of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands | 6 Months Ended | 9 Months Ended | ||||
Dec. 31, 2019 | Mar. 31, 2019 | Jun. 28, 2019 | Dec. 31, 2018 | Jun. 30, 2018 | Dec. 31, 2017 | |
Final Valuation | ||||||
Goodwill | $ 738,369 | $ 404,713 | $ 394,919 | |||
Clean Earth | ||||||
Final Valuation | ||||||
Intangible assets | 242,200 | $ 261,100 | ||||
Altek | ||||||
Final Valuation | ||||||
Cash and cash equivalents | $ 1,700 | $ 1,700 | ||||
Net working capital | (1,300) | (1,500) | ||||
Property, plant and equipment | 3,300 | 3,300 | ||||
Intangible assets | 52,700 | 52,500 | ||||
Goodwill | 22,500 | 20,900 | ||||
Net deferred tax liabilities | (8,500) | (8,500) | ||||
Other liabilities | (300) | (300) | ||||
Total identifiable net assets of Altek | 70,100 | $ 68,100 | ||||
Measurement Period Adjustments | ||||||
Net working capital | 200 | |||||
Intangible assets | 200 | |||||
Goodwill | 1,600 | |||||
Total identifiable net assets of Altek | $ 2,000 | |||||
Clean Earth | ||||||
Final Valuation | ||||||
Goodwill | 330,230 | $ 0 | $ 0 | |||
Measurement Period Adjustments | ||||||
Intangible assets | (18,900) | |||||
Clean Earth | Clean Earth | ||||||
Final Valuation | ||||||
Cash and cash equivalents | 3,600 | 42,800 | ||||
Property, plant and equipment | 77,300 | 75,600 | ||||
Intangible assets | 242,200 | 261,100 | ||||
Goodwill | 330,200 | 313,800 | ||||
Net deferred tax liabilities | (45,800) | (51,200) | ||||
Business Combination, Recognized Identifiable Assets Acquired And Liabilities Assumed, Current Assets, Trade Receivables | 62,500 | 63,700 | ||||
Business Combination, Recognized Identifiable Assets Acquired And Liabilities Assumed, Current Assets, Other Receivables | 2,100 | 800 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Other | 7,300 | 8,700 | ||||
Business Combination, Recognized Identifiable Assets Acquired And Liabilities Assumed, Operating Lease, Right-of-Use Asset | 25,800 | 14,400 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets | 1,000 | 4,000 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable | (23,100) | (23,000) | ||||
Business Combination, Provisional Information Initial Accounting Incomplete, Adjustment, Accounts Payable | (100) | |||||
Business Combination, Recognized Identifiable Assets Acquired And Liabilities Assumed, Current Liabilities, Acquisition Consideration Payable | 0 | (39,200) | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other | (19,300) | (18,000) | ||||
Business Combination, Recognized Identifiable Asset Acquired and Liability Assumed, Lease Obligation | (19,500) | (11,100) | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other | (8,600) | (6,500) | ||||
Total identifiable net assets of Altek | 635,700 | $ 635,900 | ||||
Measurement Period Adjustments | ||||||
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Cash | (39,200) | |||||
Business Combination Provisional Information Initial Accounting Incomplete Adjustment | (1,200) | |||||
Business Combination Provisional Information Initial Accounting Incomplete Adjustment, Other Receivables | 1,300 | |||||
Business Combination Provisional Information Initial Accounting Incomplete Adjustment Other Current Assets | (1,400) | |||||
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Property, Plant, and Equipment | 1,700 | |||||
Business Combination Provisional Information Initial Accounting Incomplete Adjustment Right of Use Asset | 11,400 | |||||
Business Combination Provisional Information Initial Accounting Incomplete Adjustment Other Assets | (3,000) | |||||
Business Combination Provisional Information Initial Accounting Incomplete Adjustment Acquisition Consideration Payable | 39,200 | |||||
Business Combination Provisional Information Initial Accounting Incomplete Adjustment Other Current Liabilities | (1,300) | |||||
Business Combination Provisional Information Initial Accounting Incomplete Adjustment Net deferred Taxes Liability | 5,400 | |||||
Business Combination Provisional Information Initial Accounting Incomplete Adjustment Operating lease liabilities | (8,400) | |||||
Business Combination Provisional Information Initial Accounting Incomplete Adjustment Other Liabilities | (2,100) | |||||
Intangible assets | (18,900) | |||||
Goodwill | 16,400 | |||||
Total identifiable net assets of Altek | $ (200) |
Acquisitions and Dispositions_3
Acquisitions and Dispositions - Summary of Intangible Assets and Amortization Periods (Details) - USD ($) $ in Millions | Jun. 28, 2019 | Dec. 31, 2019 |
Clean Earth | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Business Combination Provisional Information Initial Accounting Incomplete Adjustment Customer Relationships | $ (12.9) | |
Business Combination Provisional Information Initial Accounting Incomplete Adjustment Permits | (6) | |
Measurement Period Adjustments | (18.9) | |
Clean Earth | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Total identifiable intangible assets of Altek | $ 261.1 | 242.2 |
Clean Earth | Permits And Rights [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Amortization Period | 18 years | |
Total identifiable intangible assets of Altek | $ 176.1 | 170.1 |
Clean Earth | Customer Relationships [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Amortization Period | 7 years 6 months | |
Total identifiable intangible assets of Altek | $ 33.4 | 20.5 |
Clean Earth | Air Rights [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Amortization Period | 26 years 6 months | |
Total identifiable intangible assets of Altek | $ 25.6 | 25.6 |
Clean Earth | Trade names | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Amortization Period | 11 years 6 months | |
Total identifiable intangible assets of Altek | $ 26 | 26 |
Clean Earth | Clean Earth | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Total identifiable intangible assets of Altek | $ 261.1 | 242.2 |
Measurement Period Adjustments | $ (18.9) |
Acquisitions and Dispositions_4
Acquisitions and Dispositions - Summary of Changes in Fair Value of Contingent Consideration (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Contingent Consideration Liability [Roll Forward] | ||
Balance, beginning of period | $ 3,100 | |
Payment | (525) | |
Fair value adjustment | 825 | |
Balance, end of period | 3,400 | $ 3,100 |
Altek | ||
Contingent Consideration Liability [Roll Forward] | ||
Balance, beginning of period | 8,420 | 0 |
Business Combination, Contingent Consideration Arrangements, Recognition Of Contingent Consideration | 0 | 10,097 |
Business Combination, Contingent Consideration Arrangements, Change In Amount Of Contingent Consideration, Measurement Period Adjustment | 0 | 1,958 |
Fair value adjustment | (8,506) | (2,939) |
Business Combination, Contingent Consideration Arrangements, Change In Amount Of Contingent Consideration, Foreign Currency Translation | 86 | (696) |
Balance, end of period | $ 0 | $ 8,420 |
Acquisitions and Dispositions_5
Acquisitions and Dispositions - Pro Forma Information (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Business Acquisition [Line Items] | ||
Gain on Sale from discontinued business | $ (569,135) | |
Clean Earth | ||
Business Acquisition [Line Items] | ||
Business Acquisition, Pro Forma Revenue | 1,635,900 | $ 1,614,600 |
Business Acquisition, Pro Forma Net Income (Loss) | 517,600 | $ 116,100 |
Gain on Sale from discontinued business | $ 453,600 |
Acquisitions and Dispositions_6
Acquisitions and Dispositions - Assets and Liabilities Held For Sale (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Business Acquisition [Line Items] | ||
Disposal Group, Including Discontinued Operation, Liabilities | $ 11,344 | $ 39,410 |
Discontinued Operations, Held-for-sale [Member] | Harsco Industrial | ||
Business Acquisition [Line Items] | ||
Disposal Group, Including Discontinued Operation, Accounts, Notes and Loans Receivable, Net | 10,982 | 44,786 |
Disposal Group, Including Discontinued Operation, Other Receivables, Current | 78 | 412 |
Disposal Group, Including Discontinued Operation, Inventory, Current | 9,838 | 16,926 |
Disposal Group, Including Discontinued Operation, Contract With Customer, Asset, Net, Current | 0 | 12,124 |
Disposal Group, Including Discontinued Operation, Other Assets, Current | 655 | 984 |
Disposal Group, Including Discontinued Operation, Property, Plant and Equipment, Noncurrent | 20,703 | 37,107 |
Disposal Group, Including Discontinued Operation, Right-Of-Use Assets, Noncurrent | 11,230 | 0 |
Disposal Group, Including Discontinued Operation, Goodwill, Noncurrent | 0 | 6,839 |
Disposal Group, Including Discontinued Operation, Intangible Assets, Noncurrent | 0 | 10,618 |
Disposal Group, Including Discontinued Operation, Deferred Tax Assets | 0 | 563 |
Disposal Group, Including Discontinued Operation, Other Assets, Noncurrent | 96 | 204 |
Disposal Group, Including Discontinued Operation, Assets | 53,582 | 130,563 |
Disposal Group, Including Discontinued Operation, Accounts Payable, Current | 5,060 | 24,426 |
Disposal Group, Including Discontinued Operation, Accrued Liabilities, Current | 2,324 | 7,385 |
Disposal Group, Including Discontinued Operation, Deferred Revenue, Current | 1,168 | 1,910 |
Disposal Group, Including Discontinued Operation, Operating Lease, Liability, Current | 1,575 | 0 |
Disposal Group, Including Discontinued Operation, Other Liabilities, Current | 1,218 | 5,689 |
Disposal Group, Including Discontinued Operation, Operating Lease, Liability, Noncurrent | 9,837 | 0 |
Disposal Group, Including Discontinued Operation, Other Liabilities, Noncurrent | 2,314 | 555 |
Disposal Group, Including Discontinued Operation, Liabilities | $ 23,496 | $ 39,965 |
Acquisitions and Dispositions_7
Acquisitions and Dispositions - Summary of Key Financial Information (Details) - USD ($) | 1 Months Ended | 3 Months Ended | 12 Months Ended | ||
Jun. 30, 2019 | Dec. 31, 2017 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Business Acquisition [Line Items] | |||||
Income from discontinued businesses | $ 569,135,000 | $ 0 | $ 0 | ||
Discontinued Operation, Income (Loss) from Discontinued Operation, before Income Tax | 27,531,000 | 43,942,000 | 20,379,000 | ||
Loss on early extinguishment of debt | $ (2,300,000) | 7,704,000 | 1,127,000 | 2,265,000 | |
Air-cooled heat exchangers | |||||
Business Acquisition [Line Items] | |||||
Loss on early extinguishment of debt | (5,300,000) | ||||
Harsco Industrial | Discontinued Operations, Held-for-sale [Member] | |||||
Business Acquisition [Line Items] | |||||
Disposal Group, Including Discontinued Operation, Revenue | 306,972,000 | 374,707,000 | 299,592,000 | ||
Disposal Group, Including Discontinued Operation, Costs of Goods Sold | 224,811,000 | 276,198,000 | 225,163,000 | ||
Income from discontinued businesses | 569,135,000 | 0 | 0 | ||
Discontinued Operation, Income (Loss) from Discontinued Operation, before Income Tax | 27,823,000 | 43,593,000 | 20,049,000 | ||
Disposal Group, Including Discontinued Operation, General and Administrative Expense | 8,429,000 | 0 | 0 | ||
Disposal Group, Including Discontinued Operation, Interest Expense | 11,237,000 | 16,613,000 | 20,689,000 | ||
Loss on early extinguishment of debt | (5,314,000) | $ 0 | $ 0 | ||
Interest rate swaps | Discontinued Operation, Gain (Loss) From Disposal Of Discontinued Operation [Member] | |||||
Business Acquisition [Line Items] | |||||
Gain (Loss) on Discontinuation of Cash Flow Hedge Due to Forecasted Transaction Probable of Not Occurring, Net | $ (2,700,000) | $ (2,741,000) |
Acquisitions and Dispositions_8
Acquisitions and Dispositions - Summary of Cash Flow Information (Details) - Discontinued Operations, Held-for-sale [Member] - Harsco Industrial - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Business Acquisition [Line Items] | |||
Depreciation and Amortization, Discontinued Operations | $ 3,301 | $ 7,729 | $ 7,360 |
Capital Expenditure, Discontinued Operations | $ 8,372 | $ 7,561 | $ 6,895 |
Accounts Receivable and Inven_3
Accounts Receivable and Inventories (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Accounts Receivable, after Allowance for Credit Loss, Current [Abstract] | ||||
Trade accounts receivable | $ 323,502 | $ 251,013 | ||
Less: Allowance for doubtful accounts | (13,512) | (4,586) | ||
Trade accounts receivable, net | 309,990 | 246,427 | ||
Insurance claim receivable | 0 | 30,000 | ||
Other receivables | 21,265 | 23,770 | ||
Provision for doubtful accounts related to trade accounts receivable | 7,507 | 380 | $ 5,211 | |
Inventories | ||||
Finished goods | 14,550 | 11,892 | ||
Work-in-process | 13,088 | 20,839 | ||
Raw materials and purchased parts | 104,488 | 61,547 | ||
Stores and supplies | 24,865 | 21,907 | ||
Total inventories | 156,991 | 116,185 | ||
Valued at lower of cost or market: | ||||
LIFO basis | 101,465 | 66,650 | ||
FIFO basis | 7,473 | 5,719 | ||
Average cost basis | 48,053 | 43,816 | ||
Total inventories | 156,991 | 116,185 | ||
Excess of inventories valued at current costs over LIFO | 0 | 23,000 | ||
Change in income as a result of LIFO basis inventory valuation over FIFO basis valuation | 0 | 600 | 400 | |
Provision for Loss on Contracts | 6,400 | |||
Contract estimated forward loss provision for Harsco Rail Segment | 1,800 | $ 45,100 | ||
Revenues | 1,503,742 | 1,347,672 | 1,307,470 | |
SBB [Member] | ||||
Valued at lower of cost or market: | ||||
Revenues | $ 23,400 | $ 24,200 | $ 42,500 | |
Contract 2 | SBB [Member] | ||||
Valued at lower of cost or market: | ||||
Percentage Complete | 42.00% |
Property, Plant and Equipment_2
Property, Plant and Equipment (Details) - USD ($) $ in Thousands | 3 Months Ended | |||
Mar. 31, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Property, Plant and Equipment [Line Items] | ||||
Gross property, plant and equipment | $ 1,806,603 | $ 1,696,729 | ||
Less: Accumulated depreciation | (1,244,817) | (1,263,936) | ||
Property, plant and equipment, net | 561,786 | 432,793 | $ 444,683 | |
Land | ||||
Property, Plant and Equipment [Line Items] | ||||
Gross property, plant and equipment | 30,409 | 10,143 | ||
Land improvements | ||||
Property, Plant and Equipment [Line Items] | ||||
Gross property, plant and equipment | 19,155 | 15,961 | ||
Land improvements | Minimum | ||||
Property, Plant and Equipment [Line Items] | ||||
Estimated Useful Lives | 5 years | |||
Land improvements | Maximum | ||||
Property, Plant and Equipment [Line Items] | ||||
Estimated Useful Lives | 20 years | |||
Buildings and improvements | ||||
Property, Plant and Equipment [Line Items] | ||||
Gross property, plant and equipment | 182,795 | 163,037 | ||
Buildings and improvements | Minimum | ||||
Property, Plant and Equipment [Line Items] | ||||
Estimated Useful Lives | 5 years | |||
Buildings and improvements | Maximum | ||||
Property, Plant and Equipment [Line Items] | ||||
Estimated Useful Lives | 40 years | |||
Machinery and equipment | ||||
Property, Plant and Equipment [Line Items] | ||||
Gross property, plant and equipment | 1,518,652 | 1,470,620 | ||
Machinery and equipment | Minimum | ||||
Property, Plant and Equipment [Line Items] | ||||
Estimated Useful Lives | 3 years | |||
Machinery and equipment | Maximum | ||||
Property, Plant and Equipment [Line Items] | ||||
Estimated Useful Lives | 20 years | |||
Uncompleted construction | ||||
Property, Plant and Equipment [Line Items] | ||||
Gross property, plant and equipment | $ 55,592 | $ 36,968 |
Goodwill and Other Intangible_3
Goodwill and Other Intangible Assets (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Goodwill [Roll Forward] | ||
Balance at the beginning of the period | $ 404,713 | $ 394,919 |
Changes to goodwill | 330,230 | 22,518 |
Foreign currency translation | 3,426 | (12,724) |
Balance at the end of the period | 738,369 | 404,713 |
Harsco Environmental | ||
Goodwill [Roll Forward] | ||
Balance at the beginning of the period | 391,687 | 381,893 |
Changes to goodwill | 0 | 22,518 |
Foreign currency translation | 3,426 | (12,724) |
Balance at the end of the period | 395,113 | 391,687 |
Clean Earth | ||
Goodwill [Roll Forward] | ||
Balance at the beginning of the period | 0 | 0 |
Changes to goodwill | 330,230 | 0 |
Foreign currency translation | 0 | 0 |
Balance at the end of the period | 330,230 | 0 |
Harsco Rail | ||
Goodwill [Roll Forward] | ||
Balance at the beginning of the period | 13,026 | 13,026 |
Changes to goodwill | 0 | 0 |
Foreign currency translation | 0 | 0 |
Balance at the end of the period | $ 13,026 | $ 13,026 |
Goodwill and Other Intangible_4
Goodwill and Other Intangible Assets (Details 2) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Finite-Lived Intangible Assets [Line Items] | |||
Gross Carrying Amount | $ 412,657 | $ 170,586 | |
Accumulated Amortization | 113,575 | 101,379 | |
Intangible assets, net | 299,082 | 69,207 | |
Amortization expense for intangible assets | 15,500 | 5,900 | $ 3,300 |
Estimated amortization expense for the next five years | |||
2020 | 23,500 | ||
2021 | 22,400 | ||
2022 | 22,000 | ||
2023 | 22,000 | ||
2024 | 22,000 | ||
Customer related | |||
Finite-Lived Intangible Assets [Line Items] | |||
Gross Carrying Amount | 143,996 | 122,378 | |
Accumulated Amortization | 99,327 | 93,577 | |
Permits And Rights [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Gross Carrying Amount | 170,322 | 0 | |
Accumulated Amortization | 4,694 | 0 | |
Patents | |||
Finite-Lived Intangible Assets [Line Items] | |||
Gross Carrying Amount | 249 | 2,598 | |
Accumulated Amortization | 168 | 2,503 | |
Technology related | |||
Finite-Lived Intangible Assets [Line Items] | |||
Gross Carrying Amount | 36,467 | 35,831 | |
Accumulated Amortization | 5,635 | 2,681 | |
Trade names | |||
Finite-Lived Intangible Assets [Line Items] | |||
Gross Carrying Amount | 31,719 | 5,565 | |
Accumulated Amortization | 2,182 | 682 | |
Other | |||
Finite-Lived Intangible Assets [Line Items] | |||
Gross Carrying Amount | 3,765 | 4,214 | |
Accumulated Amortization | 1,158 | 1,936 | |
Air Rights [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Gross Carrying Amount | 26,139 | 0 | |
Accumulated Amortization | $ 411 | $ 0 |
Debt and Credit Agreements - Sc
Debt and Credit Agreements - Schedule of Long Term Debt (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Line of Credit Facility [Line Items] | ||
Long-term Debt | $ 778,164 | $ 592,151 |
Long-term Debt, Gross | 795,015 | 605,394 |
Debt Issuance Costs, Noncurrent, Net | 16,851 | 13,243 |
Current maturities of long-term debt | 2,666 | 6,489 |
Long-term debt | 775,498 | 585,662 |
Revolving Credit Facility | ||
Line of Credit Facility [Line Items] | ||
Long-term Debt | 67,000 | 62,000 |
Senior Secured Credit Facilities | ||
Line of Credit Facility [Line Items] | ||
Current maturities of long-term debt | 5,400 | |
Term Loan | ||
Line of Credit Facility [Line Items] | ||
Long-term Debt | 218,188 | 541,788 |
Notes Payable, Other Payables [Member] | ||
Line of Credit Facility [Line Items] | ||
Long-term Debt | 9,827 | 1,606 |
5.75% notes due May 15,2018 | Senior Notes | ||
Line of Credit Facility [Line Items] | ||
Long-term Debt | $ 500,000 | $ 0 |
Debt and Credit Agreements - _2
Debt and Credit Agreements - Schedule of Maturities of Long Term Debt (Details) $ in Thousands | Dec. 31, 2019USD ($) |
Maturities of Long-term Debt [Abstract] | |
2021 | $ 2,191 |
2022 | 1,956 |
2023 | 1,846 |
2024 | $ 286,354 |
Debt and Credit Agreements - Na
Debt and Credit Agreements - Narrative (Details) | May 31, 2019 | Jul. 30, 2019USD ($) | Jun. 30, 2019USD ($) | Mar. 31, 2020 | Jun. 30, 2019USD ($) | Mar. 31, 2019 | Dec. 31, 2017USD ($) | Dec. 31, 2022 | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Jul. 31, 2019USD ($) | Feb. 28, 2018USD ($) |
Line of Credit Facility [Line Items] | |||||||||||||
Interest Paid, Including Capitalized Interest, Operating and Investing Activities | $ 27,600,000 | $ 34,200,000 | $ 44,300,000 | ||||||||||
Loss on early extinguishment of debt | $ (2,300,000) | 7,704,000 | 1,127,000 | 2,265,000 | |||||||||
Debt Instrument, Covenant Minimum Consolidated Interest Coverage Ratio, Numerator | 3 | ||||||||||||
Payments of Financing Costs | 11,272,000 | 596,000 | $ 42,000 | ||||||||||
Short-term borrowings | $ 3,647,000 | $ 10,078,000 | |||||||||||
Short-term Debt, Weighted Average Interest Rate, at Point in Time | 5.60% | 3.00% | |||||||||||
Maximum | LIBOR | |||||||||||||
Line of Credit Facility [Line Items] | |||||||||||||
Basis spread on variable rate | 2.25% | ||||||||||||
Term Loan | |||||||||||||
Line of Credit Facility [Line Items] | |||||||||||||
Debt Instrument, Basis Spread On Variable Rate, Floor | 1.00% | ||||||||||||
Term Loan | New Credit Facility | |||||||||||||
Line of Credit Facility [Line Items] | |||||||||||||
Repayments of Debt | $ 320,900,000 | ||||||||||||
Principle amount | $ 550,000,000 | ||||||||||||
Write off of Deferred Debt Issuance Cost | $ 5,300,000 | ||||||||||||
Term Loan | Fixed-Rate Term Loan | |||||||||||||
Line of Credit Facility [Line Items] | |||||||||||||
Principle amount | $ 200,000,000 | $ 300,000,000 | |||||||||||
Term Loan | Fixed-Rate Term Loan | LIBOR | |||||||||||||
Line of Credit Facility [Line Items] | |||||||||||||
Basis spread on variable rate | 2.12% | ||||||||||||
Term Loan | Fixed-Rate Term Loan | LIBOR | Forecast | |||||||||||||
Line of Credit Facility [Line Items] | |||||||||||||
Basis spread on variable rate | 3.12% | ||||||||||||
Unsecured Debt [Member] | Senior Unsecured Notes 5.75%, Due 2027 [Member] | |||||||||||||
Line of Credit Facility [Line Items] | |||||||||||||
Debt Issuance Costs, Gross | $ 9,000,000 | $ 9,000,000 | |||||||||||
Principle amount | $ 500,000,000 | $ 500,000,000 | |||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 5.75% | 5.75% | |||||||||||
Bridge Loan [Member] | |||||||||||||
Line of Credit Facility [Line Items] | |||||||||||||
Payments of Financing Costs | $ 6,700,000 | ||||||||||||
Credit Agreement | |||||||||||||
Line of Credit Facility [Line Items] | |||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 700,000,000 | ||||||||||||
Debt Instrument, Covenant Minimum Consolidated Interest Coverage Ratio, Numerator | 4.5 | ||||||||||||
Revolving Credit Facility | |||||||||||||
Line of Credit Facility [Line Items] | |||||||||||||
Line of Credit Facility, Increase (Decrease), Net | $ 200,000,000 | ||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 700,000,000 | $ 700,000,000 | |||||||||||
Debt Instrument, Covenant Minimum Consolidated Interest Coverage Ratio, Numerator | 3.5 | 4.5 | |||||||||||
Gains (Losses) on Restructuring of Debt | $ 1,000,000 | ||||||||||||
Debt Issuance Costs, Gross | $ 2,600,000 | ||||||||||||
Debt Instrument, Basis Spread On Variable Rate, Floor | 0.00% | ||||||||||||
Revolving Credit Facility | Forecast | |||||||||||||
Line of Credit Facility [Line Items] | |||||||||||||
Debt Instrument, Covenant Minimum Consolidated Interest Coverage Ratio, Numerator | 4 | ||||||||||||
Revolving Credit Facility | Minimum | Base Rate | |||||||||||||
Line of Credit Facility [Line Items] | |||||||||||||
Basis spread on variable rate | 0.50% | ||||||||||||
Revolving Credit Facility | Minimum | LIBOR | |||||||||||||
Line of Credit Facility [Line Items] | |||||||||||||
Basis spread on variable rate | 1.50% | ||||||||||||
Revolving Credit Facility | Maximum | Base Rate | |||||||||||||
Line of Credit Facility [Line Items] | |||||||||||||
Basis spread on variable rate | 1.25% | ||||||||||||
Revolving Credit Facility | Maximum | LIBOR | |||||||||||||
Line of Credit Facility [Line Items] | |||||||||||||
Basis spread on variable rate | 2.25% |
Debt and Credit Agreements - Ou
Debt and Credit Agreements - Outstanding Amounts Under Revolving Credit Facility (Details) - Line of Credit [Member] $ in Thousands | Dec. 31, 2019USD ($) |
Debt Instrument [Line Items] | |
Line of Credit Facility, Remaining Borrowing Capacity | $ 607,648 |
Line of Credit Facility, Maximum Borrowing Capacity | 700,000 |
Long-term Line of Credit | 67,000 |
Letters of Credit Outstanding, Amount | $ 25,352 |
Leases - Supplemental Cash Flow
Leases - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands | Jan. 01, 2019 | Dec. 31, 2019 |
Lessee, Lease, Description [Line Items] | ||
Operating Lease, Payments | $ 15,143 | |
Finance Lease, Interest Payment on Liability | 1,317 | |
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability | $ 34,000 | 65,525 |
Right-of-Use Asset Obtained in Exchange for Finance Lease Liability | $ 2,658 | |
Clean Earth | ||
Lessee, Lease, Description [Line Items] | ||
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability | $ 25,800 |
Leases - Supplemental Income St
Leases - Supplemental Income Statement Information (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2019USD ($) | |
Leases [Abstract] | |
Finance Lease, Right-of-Use Asset, Amortization | $ 1,234 |
Finance Lease, Interest Expense | 50 |
Operating Lease, Cost | 16,083 |
Short-term Lease, Cost | 22,281 |
Variable Lease, Cost | 1,189 |
Sublease Income | (198) |
Lease, Cost | $ 40,639 |
Leases - Supplemental Balance S
Leases - Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Jan. 01, 2019 | Dec. 31, 2018 |
Leases [Abstract] | |||
Right-of-use assets, net | $ 52,065 | $ 34,000 | $ 0 |
Operating Lease, Liability, Current | 12,544 | 0 | |
Operating Lease, Liability, Noncurrent | 36,974 | $ 0 | |
Finance Lease, Right-of-Use Asset | 3,519 | ||
Finance Lease, Liability, Current | 1,237 | ||
Finance Lease, Liability, Noncurrent | $ 2,218 |
Leases - Supplemental Lease Inf
Leases - Supplemental Lease Information (Details) | Dec. 31, 2019 |
Leases [Abstract] | |
Operating Lease, Weighted Average Remaining Lease Term | 11 years 6 months 25 days |
Finance Lease, Weighted Average Remaining Lease Term | 4 years 3 days |
Operating Lease, Weighted Average Discount Rate, Percent | 6.30% |
Finance Lease, Weighted Average Discount Rate, Percent | 4.20% |
Leases - Schedule of Future Lea
Leases - Schedule of Future Lease Maturities (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Jan. 01, 2019 |
Leases [Abstract] | ||
Lessee, Operating Lease, Liability, Payments, Due Next Twelve Months | $ 15,045 | |
Finance Lease, Liability, Payments, Due Next Twelve Months | 1,360 | |
Lessee, Operating Lease, Liability, Payments, Due Year Two | 11,159 | |
Finance Lease, Liability, Payments, Due Year Two | 908 | |
Lessee, Operating Lease, Liability, Payments, Due Year Three | 7,166 | |
Finance Lease, Liability, Payments, Due Year Three | 655 | |
Lessee, Operating Lease, Liability, Payments, Due Year Four | 5,044 | |
Lessee, Operating Lease, Liability, Payments, Due Year Five | 2,991 | |
Finance Lease, Liability, Payments, Due Year Four | 477 | |
Lessee, Operating Lease, Liability, Payments, Due after Year Five | 31,932 | |
Finance Lease, Liability, Payments, Due after Year Five | 3 | |
Finance Lease, Liability, Payments, Due Year Five | 312 | |
Lessee, Operating Lease, Liability, Payments, Due | 73,337 | |
Finance Lease, Liability, Payment, Due | 3,715 | |
Lessee, Operating Lease, Liability, Undiscounted Excess Amount | (23,819) | |
Finance Lease, Liability, Undiscounted Excess Amount | (260) | |
Operating Lease, Liability | 49,518 | $ 34,200 |
Finance Lease, Liability | $ 3,455 |
Leases - Schedule of Future Min
Leases - Schedule of Future Minimum Payments (Details) $ in Thousands | Dec. 31, 2018USD ($) |
Operating leases | |
2019 | $ 10,761 |
2020 | 8,938 |
2021 | 6,235 |
2022 | 4,602 |
2023 | 3,083 |
After 2023 | $ 17,170 |
Leases - Narrative (Details)
Leases - Narrative (Details) | 12 Months Ended |
Dec. 31, 2019 | |
Leases [Abstract] | |
Operating And Finance Leases, Excluding Short Term Leases, Weighted-Average Remaining Lease Term | 30 years 9 months 18 days |
Operating And Finance Leases, Excluding Short Term Leases, Renewal Option | 10 years |
Employee Benefit Plans (Details
Employee Benefit Plans (Details) - Pension Plan - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
U.S. Plans | |||
Defined Contribution Plan [Abstract] | |||
Discretionary contributions | $ 0 | $ 0 | $ 0 |
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | |||
Service cost | 39,000 | 42,000 | 43,000 |
Interest cost | 10,551,000 | 9,562,000 | 9,878,000 |
Expected return on plan assets | (10,297,000) | (12,068,000) | (10,485,000) |
Recognized prior service costs | 0 | 1,000 | 33,000 |
Recognized losses | 5,585,000 | 5,207,000 | 5,701,000 |
Settlement/curtailment loss (gain) | 129,000 | 285,000 | 0 |
Defined benefit plans pension cost | 6,007,000 | 3,029,000 | 5,170,000 |
Defined contribution plans | 4,178,000 | 3,466,000 | 3,021,000 |
Net periodic pension cost, U.S. Plans | $ 10,912,000 | 7,181,000 | 8,841,000 |
U.S. Plans | Maximum | |||
Defined Contribution Plan [Abstract] | |||
Employer matching contribution (as a percent) | 4.00% | ||
U.S. Plans | Multiemployer Plans, Pension, Domestic [Member] | |||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | |||
Multiemployer plans | $ 727,000 | 686,000 | 650,000 |
International Plans | |||
Defined Contribution Plan [Abstract] | |||
Additional contribution towards insurance and administrative costs (as a percent) | 2.00% | ||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | |||
Service cost | $ 1,447,000 | 1,669,000 | 1,724,000 |
Interest cost | 22,280,000 | 21,589,000 | 21,459,000 |
Expected return on plan assets | (37,430,000) | (42,685,000) | (40,469,000) |
Recognized prior service costs | 326,000 | (140,000) | 186,000 |
Recognized losses | 14,345,000 | 14,807,000 | 16,283,000 |
Settlement/curtailment loss (gain) | 19,000 | (36,000) | (20,000) |
Defined benefit plans pension cost | 987,000 | (4,796,000) | (837,000) |
Defined contribution plans | 6,031,000 | 5,608,000 | 5,905,000 |
Net periodic pension cost, International Plans | $ 8,185,000 | 2,125,000 | 6,374,000 |
International Plans | Maximum | |||
Defined Contribution Plan [Abstract] | |||
Employer matching contribution (as a percent) | 6.00% | ||
International Plans | Multiemployer Plans, Pension, Domestic [Member] | |||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | |||
Multiemployer plans | $ 1,167,000 | $ 1,313,000 | $ 1,306,000 |
Employee Benefit Plans (Detai_2
Employee Benefit Plans (Details 2) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Defined Benefit Plan, Amounts for Asset (Liability) Recognized in Statement of Financial Position [Abstract] | |||
Noncurrent liabilities | $ 189,954 | $ 213,578 | |
Liabilities of assets held-for-sale | $ 12,152 | $ 555 | |
Pension Plan | |||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | |||
Discount rates | 3.20% | 2.80% | 3.10% |
Expected long-term rates of return on plan assets | 5.90% | 6.00% | 6.20% |
Expected long-term rates of return on plan assets for next year (as a percent) | 5.60% | ||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract] | |||
Discount rates | 2.40% | 3.20% | |
U.S. Plans | Pension Plan | |||
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Benefit obligation at beginning of year | $ 286,027 | $ 314,861 | |
Service cost | 39 | 42 | $ 43 |
Interest cost | 10,551 | 9,562 | 9,878 |
Plan participants' contributions | 0 | 0 | |
Amendments | 0 | 0 | |
Actuarial loss | 20,064 | (21,474) | |
Settlements/curtailments | 0 | 0 | |
Benefits paid | (15,842) | (16,964) | |
Effect of foreign currency | 0 | 0 | |
Change in benefit obligation, Acquisition | 6,146 | ||
Change in benefit obligation, Infrastructure transaction | 0 | ||
Benefit obligation at end of year | 294,693 | 286,027 | 314,861 |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair value of plan assets at beginning of year | 205,388 | 229,941 | |
Actual return on plan assets | 37,665 | (17,883) | |
Employer contributions | 8,306 | 10,294 | |
Plan participants' contributions | 0 | 0 | |
Settlements/curtailments | 0 | 0 | |
Benefits paid | (15,842) | (16,964) | |
Effect of foreign currency | 0 | 0 | |
Acquisitions/divestitures | (9,249) | 0 | |
Fair value of plan assets at end of year | 226,268 | 205,388 | $ 229,941 |
Funded status at end of year | (68,425) | (80,639) | |
Defined Benefit Plan, Amounts for Asset (Liability) Recognized in Statement of Financial Position [Abstract] | |||
Noncurrent assets | 0 | 1,953 | |
Current liabilities | 1,980 | 1,954 | |
Noncurrent liabilities | 64,465 | 80,638 | |
Liabilities of assets held-for-sale | 1,980 | 0 | |
Total accumulated other comprehensive loss before tax | 133,806 | 149,326 | |
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, before Tax [Abstract] | |||
Net actuarial loss | 133,806 | 149,326 | |
Prior service cost | 0 | 0 | |
Total accumulated other comprehensive loss before tax | 133,806 | $ 149,326 | |
Pension and Other Postretirement Benefit Plans, Amounts that Will be Amortized from Accumulated Other Comprehensive Income (Loss) in Next Fiscal Year [Abstract] | |||
Net actuarial loss | 5,085 | ||
Prior service cost | 0 | ||
Total | 5,085 | ||
Estimate of expected contributions in next fiscal year | 11,200 | ||
Defined Benefit Plan, Expected Future Benefit Payment [Abstract] | |||
2020 | 25,700 | ||
2021 | 17,500 | ||
2022 | 17,600 | ||
2023 | 17,500 | ||
2024 | 17,400 | ||
2025-2029 | $ 84,700 | ||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | |||
Discount rates | 4.20% | 3.50% | 4.00% |
Expected long-term rates of return on plan assets | 7.30% | 7.30% | 7.30% |
Expected long-term rates of return on plan assets for next year (as a percent) | 7.00% | ||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract] | |||
Discount rates | 3.20% | 4.20% | |
Highest yield U.S. dollar-denominated, AA-graded corporate bonds excluded from yield curve universe (as a percent) | 10.00% | ||
Lowest yield U.S. dollar-denominated, AA-graded corporate bonds excluded from yield curve universe (as a percent) | 10.00% | ||
International Plans | Pension Plan | |||
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Benefit obligation at beginning of year | $ 874,679 | $ 1,015,586 | |
Service cost | 1,447 | 1,669 | $ 1,724 |
Interest cost | 22,280 | 21,589 | 21,459 |
Plan participants' contributions | 36 | 49 | |
Amendments | 1,254 | 11,238 | |
Actuarial loss | 93,330 | (78,658) | |
Settlements/curtailments | (343) | (313) | |
Benefits paid | (37,396) | (37,721) | |
Effect of foreign currency | 33,010 | (58,760) | |
Change in benefit obligation, Acquisition | 0 | ||
Change in benefit obligation, Infrastructure transaction | 9 | ||
Benefit obligation at end of year | 988,288 | 874,679 | 1,015,586 |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair value of plan assets at beginning of year | 744,538 | 842,717 | |
Actual return on plan assets | 108,235 | (30,004) | |
Employer contributions | 21,121 | 18,415 | |
Plan participants' contributions | 36 | 49 | |
Settlements/curtailments | (343) | (313) | |
Benefits paid | (37,217) | (37,570) | |
Effect of foreign currency | 28,275 | (48,756) | |
Acquisitions/divestitures | (9) | 0 | |
Fair value of plan assets at end of year | 864,636 | 744,538 | $ 842,717 |
Funded status at end of year | (123,652) | (130,141) | |
Defined Benefit Plan, Amounts for Asset (Liability) Recognized in Statement of Financial Position [Abstract] | |||
Noncurrent assets | 987 | 2,379 | |
Current liabilities | 697 | 643 | |
Noncurrent liabilities | 123,942 | 131,876 | |
Liabilities of assets held-for-sale | 0 | 0 | |
Total accumulated other comprehensive loss before tax | 415,781 | 391,849 | |
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, before Tax [Abstract] | |||
Net actuarial loss | 408,709 | 384,666 | |
Prior service cost | 7,072 | 7,183 | |
Total accumulated other comprehensive loss before tax | 415,781 | $ 391,849 | |
Pension and Other Postretirement Benefit Plans, Amounts that Will be Amortized from Accumulated Other Comprehensive Income (Loss) in Next Fiscal Year [Abstract] | |||
Net actuarial loss | 15,137 | ||
Prior service cost | 392 | ||
Total | 15,529 | ||
Estimate of expected contributions in next fiscal year | 22,400 | ||
Defined Benefit Plan, Expected Future Benefit Payment [Abstract] | |||
2020 | 38,900 | ||
2021 | 39,800 | ||
2022 | 40,200 | ||
2023 | 41,300 | ||
2024 | 42,100 | ||
2025-2029 | $ 224,800 | ||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract] | |||
Discount rates | 2.90% | 2.60% | 2.80% |
Expected long-term rates of return on plan assets | 5.50% | 5.60% | 5.90% |
Expected long-term rates of return on plan assets for next year (as a percent) | 5.20% | ||
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract] | |||
Discount rates | 2.10% | 2.90% |
Employee Benefit Plans (Detai_3
Employee Benefit Plans (Details 3) - Pension Plan $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2019USD ($)market | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2019USD ($)shares | Dec. 31, 2018USD ($)shares | |
Defined Benefit Plan, Plan Assets, Allocations [Abstract] | |||||
Expected long-term rates of return on plan assets for next year (as a percent) | 5.60% | ||||
Expected long-term rates of return on plan assets | 5.90% | 6.00% | 6.20% | ||
International, Other Than United Kingdom [Member] | |||||
Defined Benefit Plan, Plan Assets, Allocations [Abstract] | |||||
Pension plan assets as a percentage of international plan assets | 5.00% | ||||
U.S. Plans | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Accumulated benefit obligation | $ 294,700 | $ 286,000 | |||
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets [Abstract] | |||||
Projected benefit obligation | 294,700 | 279,200 | |||
Accumulated benefit obligation | 294,700 | 279,200 | |||
Fair value of plan assets | $ 226,300 | $ 196,600 | |||
Defined Benefit Plan, Plan Assets, Allocations [Abstract] | |||||
Number of capital market results simulated in the model for expected return on plan assets | market | 1,000 | ||||
Period for which results of capital markets are simulated | 20 years | ||||
Expected long-term rates of return on plan assets for next year (as a percent) | 7.00% | ||||
Expected long-term rates of return on plan assets | 7.30% | 7.30% | 7.30% | ||
Number of shares of Company's common stock included in plan assets | shares | 360,000 | 450,000 | |||
Value of shares of Company's common stock included in plan assets | $ 8,300 | $ 8,900 | |||
Fair values of plan assets | $ 205,388 | $ 205,388 | $ 229,941 | $ 226,268 | $ 205,388 |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Fair value of plan assets at beginning of year | 205,388 | 229,941 | |||
Employer contributions | 8,306 | 10,294 | |||
Fair value of plan assets at end of year | 226,268 | 205,388 | $ 229,941 | ||
U.S. Plans | Domestic equity securities | |||||
Defined Benefit Plan, Information about Plan Assets [Abstract] | |||||
Percentage of Plan Assets at December 31 | 30.80% | 30.60% | |||
Defined Benefit Plan, Plan Assets, Allocations [Abstract] | |||||
Fair values of plan assets | 8,937 | 8,937 | $ 8,285 | $ 8,937 | |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Fair value of plan assets at beginning of year | 8,937 | ||||
Fair value of plan assets at end of year | 8,285 | 8,937 | |||
U.S. Plans | Domestic equity securities | Minimum | |||||
Defined Benefit Plan, Plan Assets, Allocations [Abstract] | |||||
Target Long-Term Allocation (less than 5% for Cash and cash equivalents) | 27.00% | ||||
U.S. Plans | Domestic equity securities | Maximum | |||||
Defined Benefit Plan, Plan Assets, Allocations [Abstract] | |||||
Target Long-Term Allocation (less than 5% for Cash and cash equivalents) | 37.00% | ||||
U.S. Plans | Domestic mutual funds—equities | |||||
Defined Benefit Plan, Plan Assets, Allocations [Abstract] | |||||
Fair values of plan assets | 54,002 | 54,002 | $ 61,346 | $ 54,002 | |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Fair value of plan assets at beginning of year | 54,002 | ||||
Fair value of plan assets at end of year | 61,346 | 54,002 | |||
U.S. Plans | International equity securities | |||||
Defined Benefit Plan, Information about Plan Assets [Abstract] | |||||
Percentage of Plan Assets at December 31 | 25.30% | 22.00% | |||
U.S. Plans | International equity securities | Minimum | |||||
Defined Benefit Plan, Plan Assets, Allocations [Abstract] | |||||
Target Long-Term Allocation (less than 5% for Cash and cash equivalents) | 20.00% | ||||
U.S. Plans | International equity securities | Maximum | |||||
Defined Benefit Plan, Plan Assets, Allocations [Abstract] | |||||
Target Long-Term Allocation (less than 5% for Cash and cash equivalents) | 30.00% | ||||
U.S. Plans | International equities—mutual funds | |||||
Defined Benefit Plan, Plan Assets, Allocations [Abstract] | |||||
Fair values of plan assets | 45,195 | 45,195 | $ 57,188 | $ 45,195 | |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Fair value of plan assets at beginning of year | 45,195 | ||||
Fair value of plan assets at end of year | 57,188 | 45,195 | |||
U.S. Plans | Harsco common stock | |||||
Defined Benefit Plan, Information about Plan Assets [Abstract] | |||||
Percentage of Plan Assets at December 31 | 3.70% | 4.40% | |||
U.S. Plans | Fixed income securities | |||||
Defined Benefit Plan, Information about Plan Assets [Abstract] | |||||
Percentage of Plan Assets at December 31 | 34.80% | 42.90% | |||
U.S. Plans | Fixed income securities | Minimum | |||||
Defined Benefit Plan, Plan Assets, Allocations [Abstract] | |||||
Target Long-Term Allocation (less than 5% for Cash and cash equivalents) | 35.00% | ||||
U.S. Plans | Fixed income securities | Maximum | |||||
Defined Benefit Plan, Plan Assets, Allocations [Abstract] | |||||
Target Long-Term Allocation (less than 5% for Cash and cash equivalents) | 45.00% | ||||
U.S. Plans | Mutual funds - bonds | |||||
Defined Benefit Plan, Plan Assets, Allocations [Abstract] | |||||
Fair values of plan assets | 88,107 | 88,107 | $ 78,685 | $ 88,107 | |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Fair value of plan assets at beginning of year | 88,107 | ||||
Fair value of plan assets at end of year | 78,685 | 88,107 | |||
U.S. Plans | Other | |||||
Defined Benefit Plan, Information about Plan Assets [Abstract] | |||||
Percentage of Plan Assets at December 31 | 8.30% | 3.80% | |||
U.S. Plans | Other | Minimum | |||||
Defined Benefit Plan, Plan Assets, Allocations [Abstract] | |||||
Target Long-Term Allocation (less than 5% for Cash and cash equivalents) | 0.00% | ||||
U.S. Plans | Other | Maximum | |||||
Defined Benefit Plan, Plan Assets, Allocations [Abstract] | |||||
Target Long-Term Allocation (less than 5% for Cash and cash equivalents) | 10.00% | ||||
U.S. Plans | Other mutual funds | |||||
Defined Benefit Plan, Plan Assets, Allocations [Abstract] | |||||
Fair values of plan assets | 7,703 | 7,703 | $ 8,764 | $ 7,703 | |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Fair value of plan assets at beginning of year | 7,703 | ||||
Fair value of plan assets at end of year | 8,764 | 7,703 | |||
U.S. Plans | Cash and cash equivalents | |||||
Defined Benefit Plan, Information about Plan Assets [Abstract] | |||||
Percentage of Plan Assets at December 31 | 0.80% | 0.70% | |||
Defined Benefit Plan, Plan Assets, Allocations [Abstract] | |||||
Fair values of plan assets | 1,444 | 1,444 | $ 1,816 | $ 1,444 | |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Fair value of plan assets at beginning of year | 1,444 | ||||
Fair value of plan assets at end of year | 1,816 | 1,444 | |||
U.S. Plans | Cash and cash equivalents | Maximum | |||||
Defined Benefit Plan, Plan Assets, Allocations [Abstract] | |||||
Target Long-Term Allocation (less than 5% for Cash and cash equivalents) | 0.00% | ||||
U.S. Plans | Partnership [Member] | |||||
Defined Benefit Plan, Plan Assets, Allocations [Abstract] | |||||
Fair values of plan assets | 10,184 | $ 10,184 | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Fair value of plan assets at end of year | 10,184 | ||||
U.S. Plans | Level 1 | |||||
Defined Benefit Plan, Plan Assets, Allocations [Abstract] | |||||
Fair values of plan assets | 205,388 | 205,388 | 216,084 | 205,388 | |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Fair value of plan assets at beginning of year | 205,388 | ||||
Fair value of plan assets at end of year | 216,084 | 205,388 | |||
U.S. Plans | Level 1 | Domestic equity securities | |||||
Defined Benefit Plan, Plan Assets, Allocations [Abstract] | |||||
Fair values of plan assets | 8,937 | 8,937 | 8,285 | 8,937 | |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Fair value of plan assets at beginning of year | 8,937 | ||||
Fair value of plan assets at end of year | 8,285 | 8,937 | |||
U.S. Plans | Level 1 | Domestic mutual funds—equities | |||||
Defined Benefit Plan, Plan Assets, Allocations [Abstract] | |||||
Fair values of plan assets | 54,002 | 54,002 | 61,346 | 54,002 | |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Fair value of plan assets at beginning of year | 54,002 | ||||
Fair value of plan assets at end of year | 61,346 | 54,002 | |||
U.S. Plans | Level 1 | International equities—mutual funds | |||||
Defined Benefit Plan, Plan Assets, Allocations [Abstract] | |||||
Fair values of plan assets | 45,195 | 45,195 | 57,188 | 45,195 | |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Fair value of plan assets at beginning of year | 45,195 | ||||
Fair value of plan assets at end of year | 57,188 | 45,195 | |||
U.S. Plans | Level 1 | Mutual funds - bonds | |||||
Defined Benefit Plan, Plan Assets, Allocations [Abstract] | |||||
Fair values of plan assets | 88,107 | 88,107 | 78,685 | 88,107 | |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Fair value of plan assets at beginning of year | 88,107 | ||||
Fair value of plan assets at end of year | 78,685 | 88,107 | |||
U.S. Plans | Level 1 | Other mutual funds | |||||
Defined Benefit Plan, Plan Assets, Allocations [Abstract] | |||||
Fair values of plan assets | 7,703 | 7,703 | 8,764 | 7,703 | |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Fair value of plan assets at beginning of year | 7,703 | ||||
Fair value of plan assets at end of year | 8,764 | 7,703 | |||
U.S. Plans | Level 1 | Cash and cash equivalents | |||||
Defined Benefit Plan, Plan Assets, Allocations [Abstract] | |||||
Fair values of plan assets | 1,444 | 1,444 | 1,816 | 1,444 | |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Fair value of plan assets at beginning of year | 1,444 | ||||
Fair value of plan assets at end of year | 1,816 | $ 1,444 | |||
U.S. Plans | Level 1 | Partnership [Member] | |||||
Defined Benefit Plan, Plan Assets, Allocations [Abstract] | |||||
Fair values of plan assets | 0 | 0 | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Fair value of plan assets at end of year | 0 | ||||
U.S. Plans | Fair Value Measured at Net Asset Value Per Share [Member] | |||||
Defined Benefit Plan, Plan Assets, Allocations [Abstract] | |||||
Fair values of plan assets | 10,184 | 10,184 | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Fair value of plan assets at end of year | 10,184 | ||||
U.S. Plans | Fair Value Measured at Net Asset Value Per Share [Member] | Partnership [Member] | |||||
Defined Benefit Plan, Plan Assets, Allocations [Abstract] | |||||
Fair values of plan assets | 10,184 | 10,184 | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Fair value of plan assets at end of year | $ 10,184 | ||||
International Plans | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Accumulated benefit obligation | 982,700 | 869,400 | |||
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets [Abstract] | |||||
Projected benefit obligation | 966,300 | 831,700 | |||
Accumulated benefit obligation | 961,100 | 828,900 | |||
Fair value of plan assets | 841,900 | 701,400 | |||
Defined Benefit Plan, Plan Assets, Allocations [Abstract] | |||||
Expected long-term rates of return on plan assets for next year (as a percent) | 5.20% | ||||
Expected long-term rates of return on plan assets | 5.50% | 5.60% | 5.90% | ||
Fair values of plan assets | $ 864,636 | $ 842,717 | $ 842,717 | $ 864,636 | $ 744,538 |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Fair value of plan assets at beginning of year | 744,538 | 842,717 | |||
Employer contributions | 21,121 | 18,415 | |||
Fair value of plan assets at end of year | 864,636 | 744,538 | $ 842,717 | ||
International Plans | Equity Securities [Member] | |||||
Defined Benefit Plan, Information about Plan Assets [Abstract] | |||||
Percentage of Plan Assets at December 31 | 31.60% | 29.20% | |||
Defined Benefit Plan, Plan Assets, Allocations [Abstract] | |||||
Target Long-Term Allocation (less than 5% for Cash and cash equivalents) | 29.00% | ||||
International Plans | Mutual funds - equities | |||||
Defined Benefit Plan, Plan Assets, Allocations [Abstract] | |||||
Fair values of plan assets | 217,321 | 217,321 | $ 273,568 | $ 217,321 | |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Fair value of plan assets at beginning of year | 217,321 | ||||
Fair value of plan assets at end of year | 273,568 | 217,321 | |||
International Plans | Fixed income securities | |||||
Defined Benefit Plan, Information about Plan Assets [Abstract] | |||||
Percentage of Plan Assets at December 31 | 48.50% | 50.70% | |||
Defined Benefit Plan, Plan Assets, Allocations [Abstract] | |||||
Target Long-Term Allocation (less than 5% for Cash and cash equivalents) | 50.00% | ||||
International Plans | Mutual funds - bonds | |||||
Defined Benefit Plan, Plan Assets, Allocations [Abstract] | |||||
Fair values of plan assets | 372,094 | 372,094 | $ 413,249 | $ 372,094 | |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Fair value of plan assets at beginning of year | 372,094 | ||||
Fair value of plan assets at end of year | 413,249 | 372,094 | |||
International Plans | Insurance contracts | |||||
Defined Benefit Plan, Plan Assets, Allocations [Abstract] | |||||
Fair values of plan assets | 5,620 | 5,620 | $ 5,705 | $ 5,620 | |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Fair value of plan assets at beginning of year | 5,620 | ||||
Fair value of plan assets at end of year | 5,705 | 5,620 | |||
International Plans | Other | |||||
Defined Benefit Plan, Information about Plan Assets [Abstract] | |||||
Percentage of Plan Assets at December 31 | 19.60% | 19.80% | |||
Defined Benefit Plan, Plan Assets, Allocations [Abstract] | |||||
Target Long-Term Allocation (less than 5% for Cash and cash equivalents) | 21.00% | ||||
International Plans | Other mutual funds | |||||
Defined Benefit Plan, Plan Assets, Allocations [Abstract] | |||||
Fair values of plan assets | 147,313 | 147,313 | $ 169,886 | $ 147,313 | |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Fair value of plan assets at beginning of year | 147,313 | ||||
Fair value of plan assets at end of year | 169,886 | 147,313 | |||
International Plans | Cash and cash equivalents | |||||
Defined Benefit Plan, Information about Plan Assets [Abstract] | |||||
Percentage of Plan Assets at December 31 | 0.30% | 0.30% | |||
Defined Benefit Plan, Plan Assets, Allocations [Abstract] | |||||
Target Long-Term Allocation (less than 5% for Cash and cash equivalents) | 0.00% | ||||
Fair values of plan assets | 2,190 | 2,190 | $ 2,228 | $ 2,190 | |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Fair value of plan assets at beginning of year | 2,190 | ||||
Fair value of plan assets at end of year | 2,228 | 2,190 | |||
International Plans | Level 1 | |||||
Defined Benefit Plan, Plan Assets, Allocations [Abstract] | |||||
Fair values of plan assets | 2,190 | 2,190 | 2,228 | 2,190 | |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Fair value of plan assets at beginning of year | 2,190 | ||||
Fair value of plan assets at end of year | 2,228 | 2,190 | |||
International Plans | Level 1 | Mutual funds - equities | |||||
Defined Benefit Plan, Plan Assets, Allocations [Abstract] | |||||
Fair values of plan assets | 0 | 0 | 0 | 0 | |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Fair value of plan assets at beginning of year | 0 | ||||
Fair value of plan assets at end of year | 0 | 0 | |||
International Plans | Level 1 | Mutual funds - bonds | |||||
Defined Benefit Plan, Plan Assets, Allocations [Abstract] | |||||
Fair values of plan assets | 0 | 0 | 0 | 0 | |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Fair value of plan assets at beginning of year | 0 | ||||
Fair value of plan assets at end of year | 0 | 0 | |||
International Plans | Level 1 | Insurance contracts | |||||
Defined Benefit Plan, Plan Assets, Allocations [Abstract] | |||||
Fair values of plan assets | 0 | ||||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Fair value of plan assets at beginning of year | |||||
Fair value of plan assets at end of year | 0 | ||||
International Plans | Level 1 | Other mutual funds | |||||
Defined Benefit Plan, Plan Assets, Allocations [Abstract] | |||||
Fair values of plan assets | 0 | 0 | 0 | 0 | |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Fair value of plan assets at beginning of year | 0 | ||||
Fair value of plan assets at end of year | 0 | 0 | |||
International Plans | Level 1 | Cash and cash equivalents | |||||
Defined Benefit Plan, Plan Assets, Allocations [Abstract] | |||||
Fair values of plan assets | 2,190 | 2,190 | 2,228 | 2,190 | |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Fair value of plan assets at beginning of year | 2,190 | ||||
Fair value of plan assets at end of year | 2,228 | 2,190 | |||
International Plans | Level 2 | |||||
Defined Benefit Plan, Plan Assets, Allocations [Abstract] | |||||
Fair values of plan assets | 742,348 | 742,348 | 862,408 | 742,348 | |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Fair value of plan assets at beginning of year | 742,348 | ||||
Fair value of plan assets at end of year | 862,408 | 742,348 | |||
International Plans | Level 2 | Mutual funds - equities | |||||
Defined Benefit Plan, Plan Assets, Allocations [Abstract] | |||||
Fair values of plan assets | 217,321 | 217,321 | 273,568 | 217,321 | |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Fair value of plan assets at beginning of year | 217,321 | ||||
Fair value of plan assets at end of year | 273,568 | 217,321 | |||
International Plans | Level 2 | Mutual funds - bonds | |||||
Defined Benefit Plan, Plan Assets, Allocations [Abstract] | |||||
Fair values of plan assets | 372,094 | 372,094 | 413,249 | 372,094 | |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Fair value of plan assets at beginning of year | 372,094 | ||||
Fair value of plan assets at end of year | 413,249 | 372,094 | |||
International Plans | Level 2 | Insurance contracts | |||||
Defined Benefit Plan, Plan Assets, Allocations [Abstract] | |||||
Fair values of plan assets | 5,620 | 5,620 | 5,705 | 5,620 | |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Fair value of plan assets at beginning of year | 5,620 | ||||
Fair value of plan assets at end of year | 5,705 | 5,620 | |||
International Plans | Level 2 | Other mutual funds | |||||
Defined Benefit Plan, Plan Assets, Allocations [Abstract] | |||||
Fair values of plan assets | 147,313 | 147,313 | 169,886 | 147,313 | |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Fair value of plan assets at beginning of year | 147,313 | ||||
Fair value of plan assets at end of year | 169,886 | 147,313 | |||
International Plans | Level 2 | Cash and cash equivalents | |||||
Defined Benefit Plan, Plan Assets, Allocations [Abstract] | |||||
Fair values of plan assets | 0 | 0 | $ 0 | $ 0 | |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||||
Fair value of plan assets at beginning of year | 0 | ||||
Fair value of plan assets at end of year | $ 0 | $ 0 | |||
United Kingdom | |||||
Defined Benefit Plan, Plan Assets, Allocations [Abstract] | |||||
Expected long-term rates of return on plan assets for next year (as a percent) | 5.20% | 5.50% | |||
Pension plan assets as a percentage of international plan assets | 95.00% |
Employee Benefit Plans (Detai_4
Employee Benefit Plans (Details 4) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Retirement Benefits [Abstract] | |||
Contributions By The Company | $ 1.9 | $ 2 | $ 2 |
Income Taxes (Details)
Income Taxes (Details) - USD ($) | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Income Tax Disclosure [Abstract] | ||||
Tax Cuts And Jobs Act of 2017, Impact Including Lower Tax Rate, On U.S. Income Tax Expense | $ 0.21 | |||
Tax Cuts and Jobs Act of 2017, Transition Tax for Accumulated Foreign Earnings, Provisional Income Tax Expense | $ 0 | |||
Income from continuing operations before income taxes and equity income | ||||
U.S. | (13,934,000) | $ 28,281,000 | $ (9,235,000) | |
International | 70,405,000 | 85,368,000 | 84,637,000 | |
Income from continuing operations before income taxes and equity income | 56,471,000 | 113,649,000 | 75,402,000 | |
Currently payable: | ||||
U.S. federal | 903,000 | (7,000) | 654,000 | |
U.S. state | 233,000 | 177,000 | 54,000 | |
International | 23,775,000 | 17,127,000 | 19,763,000 | |
Total income taxes currently payable | 24,911,000 | 17,297,000 | 20,471,000 | |
Deferred U.S. federal | (5,924,000) | 1,854,000 | 46,372,000 | |
Deferred U.S. state | (1,303,000) | (10,911,000) | 1,121,000 | |
Deferred international | 2,530,000 | (2,741,000) | 10,226,000 | |
Total income tax expense from continuing operations | 20,214,000 | 5,499,000 | 78,190,000 | |
Cash payments for income taxes, including taxes on gain or loss from discontinued business | $ 115,600,000 | $ 26,800,000 | $ 24,900,000 |
Income Taxes (Details 2)
Income Taxes (Details 2) - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Income Tax Disclosure [Line Items] | |||
Tax Cuts And Jobs Act of 2017, Impact Including Lower Tax Rate, On U.S. Income Tax Expense | $ 0.21 | ||
Effective Income Tax Rate Reconciliation, Tax Cuts and Jobs Act, Amount | 1,643,000 | $ (11,686,000) | $ 49,811,000 |
Foreign earnings before tax | 70,405,000 | 85,368,000 | 84,637,000 |
Differences on international earnings and remittances | 9,600,000 | 5,400,000 | |
Total international income tax expense | 23,775,000 | 17,127,000 | 19,763,000 |
Provisional tax expense from revaluing the U.S. ending net deferred tax assets | 11,700,000 | ||
Operating loss carryforwards | 85,378,000 | 81,755,000 | |
Capital loss carryforwards | 0 | 9,759,000 | |
Valuation Allowance | 127,074,000 | 137,450,000 | |
Valuation allowance related to foreign tax credit carryfowards | 15,200,000 | ||
Deferred Tax Assets, Valuation Allowance, Decrease Due to Altek Acquisition | 13,600,000 | ||
Increase from foreign currency translation | 8,700,000 | ||
Interest and penalties recognized | 300,000 | 200,000 | |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued | 1,200,000 | 900,000 | $ 1,100,000 |
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit | 300,000 | ||
Valuation allowance adjustment related to the acquisition of Altek | 8,300,000 | ||
Current Foreign Tax Expense (Benefit) | 26,300,000 | 14,400,000 | |
International operations | |||
Income Tax Disclosure [Line Items] | |||
Operating loss carryforwards | 66,500,000 | ||
Operating loss carryforwards not subject to expiration | 57,000,000 | ||
Operating losses subject to expiration | 9,500,000 | ||
U.S. state | |||
Income Tax Disclosure [Line Items] | |||
Operating loss carryforwards | 12,900,000 | ||
U.S. state | Tax Years 2029 Through 2033 | |||
Income Tax Disclosure [Line Items] | |||
Operating loss carryforwards | 3,200,000 | ||
United States | |||
Income Tax Disclosure [Line Items] | |||
Differences on international earnings and remittances | $ 1,000,000 | $ 3,500,000 |
Income Taxes (Details 3)
Income Taxes (Details 3) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Effective Income Tax Rate Reconciliation, Percent [Abstract] | |||
U.S. federal income tax expense | $ 11,859 | $ 23,866 | $ 26,391 |
U.S. state income taxes, net of federal income tax benefit | (274) | 566 | 642 |
U.S. other domestic deductions and credits | (1,322) | (2,407) | (364) |
Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential and Repatriation of Foreign Earnings | (9,550) | (5,394) | (647) |
Uncertain tax position contingencies and settlements | 310 | (1,180) | (1,518) |
Changes in realization on beginning of the year deferred tax assets | 2,343 | (6,937) | 1,983 |
U.S. non-deductible expenses | 2,554 | 1,128 | 609 |
Effective Income Tax Rate Reconciliation, Tax Cuts and Jobs Act, Amount | 1,643 | (11,686) | 49,811 |
State deferred tax rate change | (3,353) | 0 | 623 |
Effective Income Tax Rate Reconciliation Foreign derived intangible income deduction | 0 | (2,366) | 0 |
Effective Income Tax Rate Reconciliation, Tax Expense (Benefit), Share-based Payment Arrangement, Amount | (3,064) | (736) | (346) |
Other, net | (32) | (143) | (288) |
Income Tax Expense (Benefit) | $ 20,214 | $ 5,499 | $ 78,190 |
Annual effective income tax rate | 35.80% | 4.80% | 103.70% |
International | $ 70,405 | $ 85,368 | $ 84,637 |
Current Foreign Tax Expense (Benefit) | 26,300 | 14,400 | |
Differences on international earnings and remittances | 9,600 | 5,400 | |
U.S. | (13,934) | 28,281 | $ (9,235) |
Provisional tax expense from revaluing the U.S. ending net deferred tax assets | 11,700 | ||
Income Tax Expense (Benefit), Increase (Decrease) From Prior Year | $ 6,100 | $ 8,900 |
Income Taxes (Details 4)
Income Taxes (Details 4) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Operating Loss Carryforwards [Line Items] | |||
U.S. | $ 13,934 | $ (28,281) | $ 9,235 |
Interest and penalties recognized | 300 | 200 | |
Asset | |||
Depreciation and amortization (a) | 0 | 0 | |
Expense accruals | 18,421 | 18,827 | |
Inventories | 4,568 | 3,071 | |
Provision for receivables | 1,109 | 689 | |
Operating loss carryforwards | 85,378 | 81,755 | |
Foreign tax credit carryforwards | 24,219 | 25,814 | |
Capital loss carryforwards | 0 | 9,759 | |
Pensions | 38,766 | 40,442 | |
Currency adjustments | 462 | 3,796 | |
Post-retirement benefits | 411 | 471 | |
Stock based compensation | 6,572 | 5,832 | |
Other | 0 | 5,477 | |
Deferred Tax Liabilities, Other | 769 | ||
Subtotal | 179,906 | 195,933 | |
Valuation allowance | (127,074) | (137,450) | |
Total deferred income taxes | 52,832 | 58,483 | |
Liability | |||
Depreciation and amortization (a) | 58,229 | 8,714 | |
Deferred revenue | 3,222 | 3,122 | |
Deferred financing costs | 566 | 2,226 | |
Total deferred income taxes | 62,786 | 14,062 | |
Deferred Tax Assets, Net, Classification [Abstract] | |||
Deferred income tax assets | 14,288 | 48,551 | |
Other liabilities | 24,242 | $ 4,130 | |
Sale of Businesses Reduction of Tax Paid, Change in Capital Loss Carryforwards, Foreign Tax Credit Carryforwards, State Net Operating Loss Carryforwards, Foreign Tax Credit Carryforwards | 12,500 | ||
Merger and Liquidation of Foreign Dormant Entities, Valuation Allowance Reduction, Reduction to Deferred Tax Assets | 5,600 | ||
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | 7,900 | ||
Domestic Tax Authority [Member] | |||
Asset | |||
Operating loss carryforwards | 6,000 | ||
International operations | |||
Operating Loss Carryforwards [Line Items] | |||
Operating loss carryforwards not subject to expiration | 57,000 | ||
Asset | |||
Operating loss carryforwards | 66,500 | ||
Deferred Tax Assets, Net, Classification [Abstract] | |||
Operating losses subject to expiration | 9,500 | ||
U.S. state | |||
Asset | |||
Operating loss carryforwards | 12,900 | ||
U.S. state | Tax Years 2020 Through 2024 [Member] | |||
Asset | |||
Operating loss carryforwards | 3,300 | ||
U.S. state | Tax Years 2025 Through 2029 [Member] | |||
Asset | |||
Operating loss carryforwards | 1,900 | ||
U.S. state | Tax Years 2030 Through 2034 | |||
Asset | |||
Operating loss carryforwards | 3,200 | ||
U.S. state | Tax Years 2035 Through 2039 [Member] | |||
Asset | |||
Operating loss carryforwards | $ 4,500 |
Income Taxes (Details 5)
Income Taxes (Details 5) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Balance at the beginning of the period | $ 2,422 | $ 3,623 | $ 4,582 |
Additions for tax positions related to the current year (includes currency translation adjustment) | 414 | 196 | 658 |
Additions for tax positions related to prior years (includes currency translation adjustment) | 681 | ||
Other reductions for tax positions related to prior years | (321) | ||
Statutes of limitations expirations | (326) | (1,397) | (1,296) |
Settlements | (62) | ||
Balance at the end of the period | 3,129 | 2,422 | 3,623 |
Reconciliation of Deferred Income Tax Benefits [Roll Forward] | |||
Balance at beginning of period | (26) | (31) | (30) |
Additions for tax positions related to the current year (includes currency translation adjustment) | (7) | (1) | (2) |
Additions for tax positions related to prior years (includes currency translation adjustment) | 0 | ||
Other reductions for tax positions related to prior years | 0 | ||
Statutes of limitation expirations | 2 | 6 | 1 |
Settlements | 9 | ||
Balance at the end of the period | (22) | (26) | (31) |
Reconciliation of Net Unrecognized Tax Benefits [Roll Forward] | |||
Balance at the beginning of the period | 2,396 | 3,592 | 4,552 |
Additions for tax positions related to the current year (includes currency translation adjustment) | 407 | 195 | 656 |
Additions for tax positions related to prior years (includes currency translation adjustment) | 681 | ||
Other reductions for tax positions related to prior years | (321) | ||
Statutes of limitation expirations | (324) | (1,391) | (1,295) |
Settlements | (53) | ||
Balance at the end of the period | $ 3,107 | $ 2,396 | $ 3,592 |
Commitments and Contingencies (
Commitments and Contingencies (Details) | 1 Months Ended | 12 Months Ended | |||||||
Aug. 31, 2005USD ($) | Dec. 31, 2019USD ($)claimdefendantcase | Dec. 31, 2015 | Dec. 31, 2014 | Nov. 01, 2019USD ($) | Nov. 01, 2019BRL (R$) | Mar. 19, 2019USD ($) | Mar. 19, 2019BRL (R$) | Dec. 31, 2018USD ($) | |
Commitments and Contingencies | |||||||||
Litigation Settlement, Amount Awarded to Other Party | $ 195,000,000 | ||||||||
Accrual for Environmental Loss Contingencies | $ 7,000,000 | ||||||||
Penalties per day | $ 6,000 | R$ 25000 | $ 1,300 | R$ 5000 | |||||
Penalties | 2,500,000 | 10,000,000 | |||||||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 35.00% | ||||||||
Loss contingency, Brazilian labor claims | |||||||||
Commitments and Contingencies | |||||||||
Liabilities for asserted and unasserted claims | $ 6,500,000 | $ 7,100,000 | |||||||
Other | |||||||||
Commitments and Contingencies | |||||||||
Number of pending claims | claim | 17,142 | ||||||||
Loss provision | $ 0 | ||||||||
Loss Contingency, Number of Defendants | defendant | 90 | ||||||||
Loss Contingency, Claims Dismissed, Number | case | 28,227 | ||||||||
Other | Minimum | |||||||||
Commitments and Contingencies | |||||||||
Loss Contingency, Damages Sought, Value | $ 20,000,000 | ||||||||
Other | Maximum | |||||||||
Commitments and Contingencies | |||||||||
Loss Contingency, Damages Sought, Value | $ 25,000,000 | ||||||||
Pending Litigation, Active Or In Extremis Docket | Other | |||||||||
Commitments and Contingencies | |||||||||
Number of pending claims | claim | 45 | ||||||||
Sao Paulo State Revenue Authority | Value-Added Tax Assessments January 2004 To May 2005 | |||||||||
Commitments and Contingencies | |||||||||
Loss Contingency, Damages Sought, Principal Amount | $ 2,000,000 | ||||||||
Estimated claims or assessment, additional amount | 21,000,000 | ||||||||
Loss Contingency, Reduced Penalty | 2,000,000 | ||||||||
Loss Contingency, Reduced Penalty, Including Interest | 9,000,000 | ||||||||
Sao Paulo State Revenue Authority | Value-Added Tax Assessments January 2002 To December 2003 | |||||||||
Commitments and Contingencies | |||||||||
Loss Contingency, Damages Sought, Principal Amount | $ 1,500,000 | ||||||||
Estimated claims or assessment, additional amount | 4,800,000 | ||||||||
Loss Contingency, Reduced Penalty | 1,200,000 | ||||||||
Loss Contingency, Damages Sought, Value | $ 6,300,000 | 12,000,000 | |||||||
Loss provision | $ 0 | ||||||||
New York County as managed by the New York Supreme Court | Other | |||||||||
Commitments and Contingencies | |||||||||
Number of pending claims | case | 16,595 | ||||||||
New York County as managed by the New York Supreme Court | Pending And Future Litigation, Deferred Or Inactive Docket | Other | |||||||||
Commitments and Contingencies | |||||||||
Number of pending claims | claim | 16,550 | ||||||||
New York State Supreme Court, Counties Excluding New York County [Member] | Other | |||||||||
Commitments and Contingencies | |||||||||
Number of pending claims | case | 117 | ||||||||
Courts Located In States Other Than New York | Other | |||||||||
Commitments and Contingencies | |||||||||
Number of pending claims | case | 430 | ||||||||
NETHERLANDS | |||||||||
Commitments and Contingencies | |||||||||
Estimated claims or assessment, additional amount | $ 500,000 | ||||||||
Allegheny County Health Department [Member] | |||||||||
Commitments and Contingencies | |||||||||
Estimated claims or assessment, additional amount | 107,020 | ||||||||
Pennsylvania Department Of Environmental Protection, Processed Slag [Member] | |||||||||
Commitments and Contingencies | |||||||||
Liabilities for asserted and unasserted claims | $ 400,000 | ||||||||
Consolidated Revenue, Net [Member] | Subsidiary Concentration Risk [Member] | |||||||||
Commitments and Contingencies | |||||||||
Concentration risk | 2.00% | 2.00% | |||||||
CSN [Member] | |||||||||
Commitments and Contingencies | |||||||||
Penalties per day | $ 25,000 | R$ 100000 | R$ 20000 |
Capital Stock (Details)
Capital Stock (Details) - $ / shares | Dec. 31, 2019 | Mar. 31, 2019 | Dec. 31, 2018 |
Class of Warrant or Right [Line Items] | |||
Common stock authorized (in shares) | 150,000,000 | ||
Preferred stock authorized (in shares) | 4,000,000 | ||
Common stock, par value (usd per share) | $ 1.25 | $ 1.25 | $ 1.25 |
Preferred stock authorized, par value (in dollars per share) | $ 1.25 | ||
Preferred stock, shares issued (in shares) | 0 |
Capital Stock (Details 2)
Capital Stock (Details 2) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Common Stock | ||||
Shares outstanding at the beginning of the period | 114,720,347 | 113,473,951 | 112,888,126 | 112,499,874 |
Treasury stock, shares | 36,205,589 | 33,928,928 | 32,434,274 | 32,324,911 |
Common Stock, Shares, Outstanding | 78,514,758 | 79,545,023 | 80,453,852 | 80,174,963 |
Vested Restricted Stock Units (in shares) | 321,965 | 545,908 | 375,355 | |
Stock Issued During Period, Shares, Other | 908,566 | |||
Stock issued during period, stock appreciation rights (in shares) | 15,865 | 39,917 | 12,897 | |
Treasury shares purchased | 0 | 0 | ||
Shares outstanding at the end of the period | 114,720,347 | 113,473,951 | 112,888,126 | |
Treasury Stock, Shares | 36,205,589 | 33,928,928 | 32,434,274 | |
Common Stock, Shares, Outstanding | 78,514,758 | 79,545,023 | 80,453,852 | |
Reconciliation of the average shares of common stock used to compute basic earnings per common share to the shares used to compute diluted earnings per common share | ||||
Income (loss) from continuing operations attributable to Harsco Corporation common stockholders (in dollars) | $ 28,231 | $ 100,578 | $ (6,810) | |
Weighted average shares of common stock outstanding | 79,632,000 | 80,716,000 | 80,553,000 | |
Dilutive effect of stock-based compensation (in shares) | 1,743,000 | 2,879,000 | 0 | |
Weighted-average shares outstanding—diluted (in shares) | 81,375,000 | 83,595,000 | 80,553,000 | |
Earnings (loss) from continuing operations per common share, attributable to Harsco Corporation common stockholders: | ||||
Basic (in dollars per share) | $ 0.35 | $ 1.25 | $ (0.08) | |
Income (Loss) from Continuing Operations, Per Diluted Share | $ 0.35 | $ 1.20 | $ (0.08) | |
Treasury Stock | ||||
Common Stock | ||||
Vested Restricted Stock Units (in shares) | 125,863 | 161,774 | 105,431 | |
Stock Issued During Period, Shares, Other | 379,353 | |||
Stock issued during period, stock appreciation rights (in shares) | 4,619 | 11,808 | 3,932 | |
Treasury shares purchased | 1,766,826 | 1,321,072 | 0 | |
Outstanding Shares | ||||
Common Stock | ||||
Vested Restricted Stock Units (in shares) | 196,102 | 384,134 | 269,924 | |
Stock Issued During Period, Shares, Other | 529,213 | |||
Stock issued during period, stock appreciation rights (in shares) | 11,246 | 28,109 | 8,965 | |
Treasury shares purchased | 1,766,826 | 1,321,072 |
Capital Stock (Details 3)
Capital Stock (Details 3) - shares shares in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Restricted stock units | |||
Antidilutive securities | |||
Number of securities not included in computation of diluted earnings per share (in shares) | 0 | 0 | 934 |
Stock options | |||
Antidilutive securities | |||
Number of securities not included in computation of diluted earnings per share (in shares) | 0 | 0 | 52 |
Stock Appreciation Rights (SARs) | |||
Antidilutive securities | |||
Number of securities not included in computation of diluted earnings per share (in shares) | 491 | 306 | 1,737 |
Performance Shares [Member] | |||
Antidilutive securities | |||
Number of securities not included in computation of diluted earnings per share (in shares) | 124 | 0 | 948 |
Stock-Based Compensation (Restr
Stock-Based Compensation (Restricted Stock) (Details) - USD ($) | 3 Months Ended | 12 Months Ended | ||||||
Mar. 31, 2019 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Granted (in shares) | 277,307 | |||||||
Restricted stock unit activity | ||||||||
Nonvested at the beginning of the period (in shares) | 494,882 | 494,882 | ||||||
Granted (in shares) | 277,307 | |||||||
Forfeited (in shares) | (70,391) | |||||||
Nonvested at the end of the period (in shares) | 465,584 | 494,882 | ||||||
Additional disclosures | ||||||||
Excess tax benefits from stock-based compensation | $ 0 | |||||||
Restricted stock units | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Granted (in shares) | 285,075 | |||||||
Granted (in dollars per share) | $ 22.40 | |||||||
Recognized stock-based compensation expense | $ 4,470,000 | $ 4,174,000 | $ 3,925,000 | |||||
Restricted stock unit activity | ||||||||
Nonvested at the beginning of the period (in shares) | 583,380 | 583,380 | ||||||
Granted (in shares) | 285,075 | |||||||
Vested (in shares) | (348,572) | |||||||
Forfeited (in shares) | (53,274) | |||||||
Nonvested at the end of the period (in shares) | 466,609 | 583,380 | ||||||
Weighted Average Grant-Date Fair Value | ||||||||
Nonvested at the beginning of the period (in dollars per share) | $ 15.08 | $ 15.08 | ||||||
Granted (in dollars per share) | 22.40 | |||||||
Vested (in dollars per share) | 13.38 | |||||||
Forfeited (in dollars per share) | 20.01 | |||||||
Nonvested at the end of the period (in dollars per share) | $ 20.26 | $ 15.08 | ||||||
Additional disclosures | ||||||||
Unrecognized stock-based compensation expense | $ 5,400,000 | |||||||
Unrecognized stock-based compensation expense, period of recognition | 1 year 10 months 24 days | |||||||
2013 Equity and Incentive Compensation Plan | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Maximum number of shares authorized for issuance | 7,800,000 | |||||||
Number of shares available for grant | 2,600,000 | |||||||
2013 Equity and Incentive Compensation Plan | Equity Awards, Other Than Options And Stock Appreciation Rights [Member] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized | 4,600,000 | |||||||
Number of shares available for grant | 1,500,000 | |||||||
1995 Non-Employee Directors' Stock Plan | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Maximum number of shares authorized for issuance | 400,000 | |||||||
Number of shares available for grant | 158,000 | |||||||
1995 Non-Employee Directors' Stock Plan | Restricted stock units | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Vesting period (in years) | 3 years | |||||||
Granted (in shares) | 14,211 | 43,821 | 56,203 | 109,998 | ||||
Granted (in dollars per share) | $ 25.33 | $ 20.54 | $ 13.70 | $ 7 | ||||
Restricted stock unit activity | ||||||||
Granted (in shares) | 14,211 | 43,821 | 56,203 | 109,998 | ||||
Weighted Average Grant-Date Fair Value | ||||||||
Granted (in dollars per share) | $ 25.33 | $ 20.54 | $ 13.70 | $ 7 | ||||
1995 Non-Employee Directors' Stock Plan | Restricted stock units | 2016 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Recognized stock-based compensation expense | $ 0 | $ 0 | $ 257,000 | |||||
1995 Non-Employee Directors' Stock Plan | Restricted stock units | 2017 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Recognized stock-based compensation expense | 0 | 179,000 | 641,000 | |||||
1995 Non-Employee Directors' Stock Plan | Restricted stock units | 2018 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Recognized stock-based compensation expense | 280,000 | 511,000 | 0 | |||||
1995 Non-Employee Directors' Stock Plan | Restricted stock units | Issue Period Eight [Domain] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Recognized stock-based compensation expense | $ 240,000 | $ 0 | $ 0 | |||||
1995 Executive Incentive Compensation Plan | Restricted stock units | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Granted (in shares) | 270,864 | 242,791 | 286,251 | 536,773 | 239,679 | 190,832 | ||
Granted (in dollars per share) | $ 22.25 | $ 19.93 | $ 13.70 | $ 7.09 | $ 16.53 | $ 25.21 | ||
Restricted stock unit activity | ||||||||
Granted (in shares) | 270,864 | 242,791 | 286,251 | 536,773 | 239,679 | 190,832 | ||
Weighted Average Grant-Date Fair Value | ||||||||
Granted (in dollars per share) | $ 22.25 | $ 19.93 | $ 13.70 | $ 7.09 | $ 16.53 | $ 25.21 | ||
1995 Executive Incentive Compensation Plan | Restricted stock units | 2014 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Recognized stock-based compensation expense | $ 0 | $ 0 | $ 295,000 | |||||
1995 Executive Incentive Compensation Plan | Restricted stock units | 2015 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Recognized stock-based compensation expense | 0 | 193,000 | 498,000 | |||||
1995 Executive Incentive Compensation Plan | Restricted stock units | 2016 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Recognized stock-based compensation expense | 290,000 | 835,000 | 909,000 | |||||
1995 Executive Incentive Compensation Plan | Restricted stock units | 2017 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Recognized stock-based compensation expense | 832,000 | 910,000 | 1,325,000 | |||||
1995 Executive Incentive Compensation Plan | Restricted stock units | 2018 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Recognized stock-based compensation expense | 1,208,000 | 1,546,000 | 0 | |||||
1995 Executive Incentive Compensation Plan | Restricted stock units | Issue Period Eight [Domain] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Recognized stock-based compensation expense | $ 1,620,000 | $ 0 | $ 0 |
Stock-Based Compensation (Stock
Stock-Based Compensation (Stock Appreciation Rights) (Details) - USD ($) | 1 Months Ended | 3 Months Ended | 12 Months Ended | ||||||||||
Jul. 30, 2019 | Mar. 31, 2019 | Jul. 31, 2018 | Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2019 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Jul. 31, 2019 | Jul. 30, 2018 | |
Number of Shares | |||||||||||||
Granted (in shares) | 229,344 | ||||||||||||
SARS exercised, shares | (43,594) | ||||||||||||
Forfeited (in shares) | (22,977) | ||||||||||||
Weighted Average Exercise Price | |||||||||||||
Options vested, outstanding (in shares) | 1,458,484 | ||||||||||||
Share-based Compensation, Shares Authorized Under Stock Appreciation Rights, Exercise Price Range, Number Of Unvested Shares | 449,736 | ||||||||||||
Weighted Average Exercise Price Per Share (in dollars per share) | $ 16.44 | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Outstanding, Weighted Average Remaining Contractual Terms | 6 years 3 months 29 days | ||||||||||||
Number of exercisable options (in shares) | 1,458,484 | ||||||||||||
Weighted average exercise price per share (in dollars per share) | $ 15.33 | ||||||||||||
Unvested activity | |||||||||||||
Granted (in shares) | 277,307 | ||||||||||||
Nonvested at the end of the period (in shares) | 465,584 | 494,882 | |||||||||||
Weighted Average Grant Date Fair Value | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period | (70,391) | ||||||||||||
$7.00-$13.70 | |||||||||||||
Weighted Average Exercise Price | |||||||||||||
Options vested, outstanding (in shares) | 624,693 | ||||||||||||
Share-based Compensation, Shares Authorized Under Stock Appreciation Rights, Exercise Price Range, Number Of Unvested Shares | 83,654 | ||||||||||||
Weighted Average Exercise Price Per Share (in dollars per share) | $ 9.42 | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Outstanding, Weighted Average Remaining Contractual Terms | 6 years 7 months 24 days | ||||||||||||
Number of exercisable options (in shares) | 624,693 | ||||||||||||
Weighted average exercise price per share (in dollars per share) | $ 8.85 | ||||||||||||
$16.53 - $22.70 | |||||||||||||
Weighted Average Exercise Price | |||||||||||||
Options vested, outstanding (in shares) | 584,950 | ||||||||||||
Share-based Compensation, Shares Authorized Under Stock Appreciation Rights, Exercise Price Range, Number Of Unvested Shares | 361,000 | ||||||||||||
Weighted Average Exercise Price Per Share (in dollars per share) | $ 19.45 | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Outstanding, Weighted Average Remaining Contractual Terms | 6 years 7 months 6 days | ||||||||||||
Number of exercisable options (in shares) | 584,950 | ||||||||||||
Weighted average exercise price per share (in dollars per share) | $ 18.23 | ||||||||||||
$23.03 - $26.92 | |||||||||||||
Weighted Average Exercise Price | |||||||||||||
Options vested, outstanding (in shares) | 248,841 | ||||||||||||
Share-based Compensation, Shares Authorized Under Stock Appreciation Rights, Exercise Price Range, Number Of Unvested Shares | 5,082 | ||||||||||||
Weighted Average Exercise Price Per Share (in dollars per share) | $ 24.78 | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Outstanding, Weighted Average Remaining Contractual Terms | 4 years 5 months 12 days | ||||||||||||
Number of exercisable options (in shares) | 248,841 | ||||||||||||
Weighted average exercise price per share (in dollars per share) | $ 24.79 | ||||||||||||
Stock options | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||
Vesting period (in years) | 3 years | ||||||||||||
Weighted Average Exercise Price | |||||||||||||
Recognized stock-based compensation expense | $ 0 | $ 0 | |||||||||||
Unrecognized stock-based compensation expense | $ 0 | ||||||||||||
Weighted Average Grant Date Fair Value | |||||||||||||
Stock options exercised | 0 | 0 | |||||||||||
Proceeds from Stock Options Exercised | $ 0 | $ 0 | |||||||||||
Stock options | Maximum | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||
Expiration period (in years) | 7 years | ||||||||||||
Stock Appreciation Rights (SARs) | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Exercised in Period, Weighted Average Exercise Price | $ 15.87 | ||||||||||||
Fair value assumptions | |||||||||||||
Risk-free interest rate (as a percent) | 1.84% | 2.52% | 2.87% | 2.69% | 2.17% | ||||||||
Dividend yield (as a percent) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | ||||||||
Expected life | 6 years | 6 years | 6 years | 6 years | 6 years | ||||||||
Volatility (as a percent) | 47.10% | 46.20% | 44.70% | 44.60% | 43.90% | ||||||||
SAR grant price (usd per share) | $ 22.51 | $ 19.80 | $ 13.70 | $ 22.51 | $ 19.80 | $ 27.39 | $ 24.65 | ||||||
Number of Shares | |||||||||||||
Outstanding at beginning of period (in shares) | 1,745,447 | 1,745,447 | |||||||||||
Outstanding at end of period (in shares) | 1,908,220 | 1,745,447 | |||||||||||
Weighted Average Exercise Price | |||||||||||||
Outstanding at beginning of period (usd per share) | $ 15.73 | $ 15.73 | |||||||||||
Granted (usd per share) | 22.79 | ||||||||||||
Forfeited/expired (usd per share) | 26.94 | ||||||||||||
Outstanding at end of period | $ 16.44 | $ 15.73 | |||||||||||
Outstanding - Aggregate Intrinsic Value | $ 13,000,000 | $ 8,900,000 | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Exercised | 300,000 | 500,000 | $ 0 | ||||||||||
Recognized stock-based compensation expense | 1,900,000 | $ 1,800,000 | $ 1,900,000 | ||||||||||
Unrecognized stock-based compensation expense | $ 2,400,000 | ||||||||||||
Unrecognized stock-based compensation expense, period of recognition | 1 year 9 months 18 days | ||||||||||||
Unvested activity | |||||||||||||
Granted (in shares) | 229,344 | ||||||||||||
Nonvested at the end of the period (in shares) | 449,736 | 467,478 | |||||||||||
Weighted Average Grant Date Fair Value | |||||||||||||
Nonvested at the beginning of the period (in dollars per share) | $ 6.65 | $ 6.65 | |||||||||||
Granted (in dollars per share) | $ 12.80 | $ 10.62 | $ 11.48 | $ 9.16 | $ 6.13 | 10.75 | |||||||
Vested (in dollars per share) | 5.17 | ||||||||||||
Forfeited (in dollars per share) | 12.80 | ||||||||||||
Nonvested at the end of the period (in dollars per share) | $ 9.32 | $ 6.65 | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | (233,842) | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period | (13,244) | ||||||||||||
Stock Appreciation Rights (SARs) | Minimum | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||
Vesting period (in years) | 3 years | ||||||||||||
Stock Appreciation Rights (SARs) | $7.00-$13.70 | |||||||||||||
Weighted Average Exercise Price | |||||||||||||
Range of Exercisable Prices, low end of range (in dollars per share) | $ 7 | ||||||||||||
Range of Exercisable Prices, high end of range (in dollars per share) | 13.70 | ||||||||||||
Stock Appreciation Rights (SARs) | $16.53 - $22.70 | |||||||||||||
Weighted Average Exercise Price | |||||||||||||
Range of Exercisable Prices, low end of range (in dollars per share) | 16.53 | ||||||||||||
Range of Exercisable Prices, high end of range (in dollars per share) | 22.70 | ||||||||||||
Stock Appreciation Rights (SARs) | $23.03 - $26.92 | |||||||||||||
Weighted Average Exercise Price | |||||||||||||
Range of Exercisable Prices, low end of range (in dollars per share) | 23.03 | ||||||||||||
Range of Exercisable Prices, high end of range (in dollars per share) | $ 26.92 | ||||||||||||
2013 Equity and Incentive Compensation Plan | Stock Appreciation Rights (SARs) | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||
Expiration period (in years) | 10 years | ||||||||||||
Unvested activity | |||||||||||||
Granted (in shares) | 13,244 | 216,100 | 7,622 | 221,818 | 266,540 | ||||||||
2013 Equity and Incentive Compensation Plan | Stock Appreciation Rights (SARs) | Maximum | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||
Vesting period (in years) | 5 years |
Stock-Based Compensation (Perfo
Stock-Based Compensation (Performance Stock Units) (Details) - USD ($) $ / shares in Units, $ in Millions | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||||||
Aug. 31, 2019 | Jul. 30, 2019 | Mar. 31, 2019 | Jul. 31, 2018 | Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Unvested activity | ||||||||||
Nonvested at the beginning of the period (in shares) | 494,882 | 494,882 | ||||||||
Granted (in shares) | 277,307 | |||||||||
Forfeited (in shares) | (70,391) | |||||||||
Cancellations (in shares) | (22,977) | |||||||||
Nonvested at the end of the period (in shares) | 465,584 | 494,882 | ||||||||
Weighted Average Grant Date Fair Value | ||||||||||
Share-based Compensation Arrangement by Share-based Payment awary, Non-Option Equity Instruments, Cancellations | 236,214 | |||||||||
Performance Stock Units | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Performance period | 3 years | |||||||||
Fair value assumptions | ||||||||||
Risk-free interest rate (as a percent) | 1.57% | 1.75% | 2.48% | 2.69% | 2.36% | 1.54% | ||||
Dividend yield (as a percent) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | ||||
Expected Life (Years) | 2 years 4 months 28 days | 2 years 6 months | 2 years 9 months 25 days | 2 years 5 months 1 day | 2 years 9 months 29 days | 2 years 9 months 29 days | ||||
Volatility | 34.90% | 34.30% | 33.80% | 33.10% | 34.70% | 34.20% | ||||
Fair value of award (in dollars per share) | $ 23.38 | $ 40.07 | $ 29.04 | $ 39.06 | $ 29.56 | $ 17.05 | $ 28.51 | |||
Recognized stock-based compensation expense | $ 5.1 | $ 4.3 | $ 3.2 | |||||||
Unrecognized stock-based compensation expense | $ 6.5 | |||||||||
Unrecognized stock-based compensation expense, period of recognition | 1 year 8 months 12 days | |||||||||
Unvested activity | ||||||||||
Granted (in shares) | 38,006 | 6,189 | 233,112 | 6,742 | 233,266 | 286,251 | ||||
Weighted Average Grant Date Fair Value | ||||||||||
Nonvested at the beginning of the period (in dollars per share) | $ 23.13 | $ 23.13 | ||||||||
Granted (in dollars per share) | $ 23.38 | $ 40.07 | $ 29.04 | $ 39.06 | $ 29.56 | $ 17.05 | 28.51 | |||
Forfeited (in dollars per share) | 26.23 | |||||||||
Cancellations (in dollars per share) | 17.05 | |||||||||
Nonvested at the end of the period (in dollars per share) | $ 28.95 | $ 23.13 | ||||||||
Shares expected to be issued (in shares) | 472,428 | |||||||||
Performance Stock Units | Minimum | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Payout of PSUs (percent of initial grant) | 0.00% | |||||||||
Performance Stock Units | Maximum | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Payout of PSUs (percent of initial grant) | 200.00% |
Stock-Based Compensation (Sto_2
Stock-Based Compensation (Stock Options) (Details) - Stock options - USD ($) | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Dec. 31, 2016 | Dec. 31, 2018 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Vesting period (in years) | 3 years | |||
Exercised (in shares) | 0 | 0 | ||
Recognized stock-based compensation expense | $ 0 | $ 0 | ||
Unrecognized stock-based compensation expense | $ 0 | |||
Proceeds from stock options exercised | $ 0 | $ 0 | ||
Maximum | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Expiration period (in years) | 7 years |
Financial Instruments - Narrati
Financial Instruments - Narrative (Details) | 1 Months Ended | 12 Months Ended | ||||
Jun. 30, 2019USD ($) | Dec. 31, 2022 | Dec. 31, 2019USD ($)country | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Feb. 28, 2018USD ($) | |
Guarantor Obligations [Line Items] | ||||||
Pre-tax gains (losses) | $ 7,700,000 | $ (9,900,000) | $ 17,400,000 | |||
Repayments of Long-term Lines of Credit | $ 2,800,000 | |||||
Fair value of long-term debt | 827,200,000 | 592,000,000 | ||||
Long-term Debt, Gross | 795,015,000 | $ 605,394,000 | ||||
Fixed-Rate Term Loan | Term Loan | ||||||
Guarantor Obligations [Line Items] | ||||||
Principle amount | 200,000,000 | $ 300,000,000 | ||||
LIBOR | Fixed-Rate Term Loan | Term Loan | ||||||
Guarantor Obligations [Line Items] | ||||||
Basis spread on variable rate | 2.12% | |||||
Forecast | LIBOR | Fixed-Rate Term Loan | Term Loan | ||||||
Guarantor Obligations [Line Items] | ||||||
Basis spread on variable rate | 3.12% | |||||
Subject to Master Netting Agreements | ||||||
Guarantor Obligations [Line Items] | ||||||
Net derivative liability | $ 100,000 | |||||
Foreign currency exchange forward contracts | ||||||
Guarantor Obligations [Line Items] | ||||||
Notional amounts | $ 496,300,000 | 423,900,000 | ||||
Minimum | ||||||
Guarantor Obligations [Line Items] | ||||||
Number of countries in which entity has currency exposures | country | 30 | |||||
Maximum | LIBOR | ||||||
Guarantor Obligations [Line Items] | ||||||
Basis spread on variable rate | 2.25% | |||||
Stand by letters of credit, bonds and bank guarantees | ||||||
Guarantor Obligations [Line Items] | ||||||
Contingent liability outstanding | $ 281,800,000 | $ 285,400,000 | $ 275,400,000 | |||
Stand by letters of credit, bonds and bank guarantees | Minimum | ||||||
Guarantor Obligations [Line Items] | ||||||
Fees paid to various banks and insurance companies on face amount of instruments (as a percent) | 0.40% | |||||
Stand by letters of credit, bonds and bank guarantees | Maximum | ||||||
Guarantor Obligations [Line Items] | ||||||
Guarantee term | 2 years | |||||
Fees paid to various banks and insurance companies on face amount of instruments (as a percent) | 3.70% | |||||
Net Working Capital Settlement | ||||||
Guarantor Obligations [Line Items] | ||||||
Guarantee remaining term | 1 year | |||||
Potential amount of future payments for guarantees, maximum | $ 3,000,000 | |||||
Recognition of potential future payment in the consolidated financial statements | 0 | |||||
Indemnification Agreement | ||||||
Guarantor Obligations [Line Items] | ||||||
Recognition of potential future payment in the consolidated financial statements | 0 | |||||
Floating-Rate To Fixed-Rate [Member] | ||||||
Guarantor Obligations [Line Items] | ||||||
Debt Conversion, Original Debt, Amount | 100,000,000 | |||||
Discontinued Operation, Gain (Loss) From Disposal Of Discontinued Operation [Member] | Interest rate swaps | ||||||
Guarantor Obligations [Line Items] | ||||||
Gain (Loss) on Discontinuation of Cash Flow Hedge Due to Forecasted Transaction Probable of Not Occurring, Net | $ (2,700,000) | $ (2,741,000) |
Financial Instruments - Fair Va
Financial Instruments - Fair Value of Outstanding Derivative Contracts Recorded as Assets and Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Derivatives, Fair Value [Line Items] | ||
Asset derivatives (Level 2): | $ 2,985 | $ 5,018 |
Liability derivatives (Level 2) | 10,252 | 4,783 |
Foreign currency exchange forward contracts | Other current assets | ||
Derivatives, Fair Value [Line Items] | ||
Asset derivatives (Level 2): | 2,985 | 3,559 |
Foreign currency exchange forward contracts | Other current liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Liability derivatives (Level 2) | 3,873 | 2,934 |
Interest rate swaps | Other current assets | ||
Derivatives, Fair Value [Line Items] | ||
Asset derivatives (Level 2): | 1,331 | |
Interest rate swaps | Other assets | ||
Derivatives, Fair Value [Line Items] | ||
Asset derivatives (Level 2): | 128 | |
Interest rate swaps | Other current liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Liability derivatives (Level 2) | 2,098 | |
Interest rate swaps | Other liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Liability derivatives (Level 2) | 4,281 | 1,849 |
Fair Value of Derivatives Designated as Hedging Instruments | ||
Derivatives, Fair Value [Line Items] | ||
Asset derivatives (Level 2): | 2,039 | 4,429 |
Liability derivatives (Level 2) | 6,519 | 1,873 |
Fair Value of Derivatives Designated as Hedging Instruments | Foreign currency exchange forward contracts | Other current assets | ||
Derivatives, Fair Value [Line Items] | ||
Asset derivatives (Level 2): | 2,039 | 2,970 |
Fair Value of Derivatives Designated as Hedging Instruments | Foreign currency exchange forward contracts | Other current liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Liability derivatives (Level 2) | 140 | 24 |
Fair Value of Derivatives Designated as Hedging Instruments | Interest rate swaps | Other current assets | ||
Derivatives, Fair Value [Line Items] | ||
Asset derivatives (Level 2): | 1,331 | |
Fair Value of Derivatives Designated as Hedging Instruments | Interest rate swaps | Other assets | ||
Derivatives, Fair Value [Line Items] | ||
Asset derivatives (Level 2): | 128 | |
Fair Value of Derivatives Designated as Hedging Instruments | Interest rate swaps | Other current liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Liability derivatives (Level 2) | 2,098 | |
Fair Value of Derivatives Designated as Hedging Instruments | Interest rate swaps | Other liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Liability derivatives (Level 2) | 4,281 | 1,849 |
Fair Value of Derivatives Not Designated as Hedging Instruments | ||
Derivatives, Fair Value [Line Items] | ||
Asset derivatives (Level 2): | 946 | 589 |
Liability derivatives (Level 2) | 3,733 | 2,910 |
Fair Value of Derivatives Not Designated as Hedging Instruments | Foreign currency exchange forward contracts | Other current assets | ||
Derivatives, Fair Value [Line Items] | ||
Asset derivatives (Level 2): | 946 | 589 |
Fair Value of Derivatives Not Designated as Hedging Instruments | Foreign currency exchange forward contracts | Other current liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Liability derivatives (Level 2) | 3,733 | 2,910 |
Fair Value of Derivatives Not Designated as Hedging Instruments | Interest rate swaps | Other current assets | ||
Derivatives, Fair Value [Line Items] | ||
Asset derivatives (Level 2): | 0 | |
Fair Value of Derivatives Not Designated as Hedging Instruments | Interest rate swaps | Other assets | ||
Derivatives, Fair Value [Line Items] | ||
Asset derivatives (Level 2): | 0 | |
Fair Value of Derivatives Not Designated as Hedging Instruments | Interest rate swaps | Other current liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Liability derivatives (Level 2) | 0 | |
Fair Value of Derivatives Not Designated as Hedging Instruments | Interest rate swaps | Other liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Liability derivatives (Level 2) | $ 0 | $ 0 |
Financial Instruments - Effect
Financial Instruments - Effect of Derivative Instruments on the Consolidated Statements of Operations and the Consolidated Statements of Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 1 Months Ended | 12 Months Ended | ||
Jun. 30, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Product revenues | $ 1,503,742 | $ 1,347,672 | $ 1,307,470 | |
Interest expense | (36,586) | (21,531) | (26,862) | |
Discontinued Operation, Income (Loss) from Discontinued Operation, before Income Tax | 27,531 | 43,942 | 20,379 | |
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax | (2,934) | |||
Foreign currency exchange forward contracts | Product revenues / Cost of services and products sold | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax | 506 | |||
Derivative Not Designated as Hedging Instruments | ||||
Amount of Gain (Loss) Recognized in Income on Derivative for the Twelve Months Ended December 31 | 6,807 | 17,262 | (23,572) | |
Foreign currency exchange forward contracts | Retained Earnings | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax | 0 | |||
Interest rate swaps | Sales [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax | 0 | |||
Gain (Loss) on Discontinuation of Cash Flow Hedge Due to Forecasted Transaction Probable of Not Occurring, Net | 0 | |||
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, before Tax | 0 | |||
Interest rate swaps | Interest expense | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax | 520 | |||
Gain (Loss) on Discontinuation of Cash Flow Hedge Due to Forecasted Transaction Probable of Not Occurring, Net | 0 | |||
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, before Tax | 1,108 | |||
Interest rate swaps | Cost of Goods and Service Benchmark [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax | 0 | |||
Gain (Loss) on Discontinuation of Cash Flow Hedge Due to Forecasted Transaction Probable of Not Occurring, Net | 0 | |||
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, before Tax | 0 | |||
Interest rate swaps | Discontinued Operation, Gain (Loss) From Disposal Of Discontinued Operation [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax | 0 | |||
Gain (Loss) on Discontinuation of Cash Flow Hedge Due to Forecasted Transaction Probable of Not Occurring, Net | $ (2,700) | (2,741) | ||
Cross-currency interest rate swaps | Sales [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax | 0 | |||
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, before Tax | 0 | 0 | ||
Amount of Gain (Loss) Recognized in Income on Derivative—Ineffective Portion and Amount Excluded from Effectiveness Testing | 0 | |||
Cross-currency interest rate swaps | Interest expense | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax | (1,219) | |||
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, before Tax | (1,264) | (1,002) | ||
Amount of Gain (Loss) Recognized in Income on Derivative—Ineffective Portion and Amount Excluded from Effectiveness Testing | (420) | |||
Cross-currency interest rate swaps | Cost of Goods and Service Benchmark [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax | 0 | |||
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, before Tax | 0 | 0 | ||
Amount of Gain (Loss) Recognized in Income on Derivative—Ineffective Portion and Amount Excluded from Effectiveness Testing | 0 | |||
Cross-currency interest rate swaps | Discontinued Operation, Gain (Loss) From Disposal Of Discontinued Operation [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax | 0 | |||
Foreign Exchange Contract [Member] | Sales [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax | 550 | |||
Other Comprehensive Income (Loss), Derivative, Excluded Component, Increase (Decrease), before Adjustments and Tax | 509 | |||
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, before Tax | 374 | 936 | ||
Amount of Gain (Loss) Recognized in Income on Derivative—Ineffective Portion and Amount Excluded from Effectiveness Testing | (440) | (105) | ||
Foreign Exchange Contract [Member] | Interest expense | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax | 0 | |||
Other Comprehensive Income (Loss), Derivative, Excluded Component, Increase (Decrease), before Adjustments and Tax | 0 | |||
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, before Tax | 0 | 0 | ||
Amount of Gain (Loss) Recognized in Income on Derivative—Ineffective Portion and Amount Excluded from Effectiveness Testing | 0 | 0 | ||
Foreign Exchange Contract [Member] | Cost of Goods and Service Benchmark [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax | (44) | |||
Other Comprehensive Income (Loss), Derivative, Excluded Component, Increase (Decrease), before Adjustments and Tax | 0 | |||
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, before Tax | 0 | 18 | ||
Amount of Gain (Loss) Recognized in Income on Derivative—Ineffective Portion and Amount Excluded from Effectiveness Testing | 1 | 0 | ||
Foreign Exchange Contract [Member] | Discontinued Operation, Gain (Loss) From Disposal Of Discontinued Operation [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax | 0 | |||
Other Comprehensive Income (Loss), Derivative, Excluded Component, Increase (Decrease), before Adjustments and Tax | 0 | |||
Product | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Product revenues | 422,269 | 392,208 | 373,188 | |
Cost of services and products sold | 305,134 | 266,792 | 260,347 | |
Products And Services, Service Revenue [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Cost of services and products sold | $ 839,156 | $ 745,748 | $ 737,499 |
Financial Instruments - Effec_2
Financial Instruments - Effect of Derivatives (Details) - USD ($) $ in Thousands | 1 Months Ended | 12 Months Ended | ||
Jun. 30, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Derivatives, Fair Value [Line Items] | ||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax | $ (9,478) | |||
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax | $ 3,449 | $ 2,608 | ||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax | 2,934 | |||
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net | (1,738) | 48 | ||
Foreign currency exchange forward contracts | ||||
Derivatives, Fair Value [Line Items] | ||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax | (1,227) | |||
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax | 1,935 | 3,547 | ||
Foreign Exchange Forward Two [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax | 0 | |||
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax | 0 | 0 | ||
Interest rate swaps | ||||
Derivatives, Fair Value [Line Items] | ||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax | 0 | |||
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax | 0 | 0 | ||
Interest Rate Swap Two [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax | (8,209) | |||
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax | 1,451 | (734) | ||
Cross-currency interest rate swaps | ||||
Derivatives, Fair Value [Line Items] | ||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax | (42) | |||
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax | 63 | (205) | ||
Product revenues / Cost of services and products sold | Foreign currency exchange forward contracts | ||||
Derivatives, Fair Value [Line Items] | ||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax | (506) | |||
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net | (374) | (954) | ||
Retained Earnings | Foreign currency exchange forward contracts | ||||
Derivatives, Fair Value [Line Items] | ||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax | 0 | |||
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net | (1,520) | 0 | ||
Discontinued Operation, Gain (Loss) From Disposal Of Discontinued Operation [Member] | Interest rate swaps | ||||
Derivatives, Fair Value [Line Items] | ||||
Gain (Loss) on Discontinuation of Cash Flow Hedge Due to Forecasted Transaction Probable of Not Occurring, Net | $ 2,700 | 2,741 | ||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax | 0 | |||
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net | 0 | 0 | ||
Discontinued Operation, Gain (Loss) From Disposal Of Discontinued Operation [Member] | Cross-currency interest rate swaps | ||||
Derivatives, Fair Value [Line Items] | ||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax | 0 | |||
Interest expense | Interest rate swaps | ||||
Derivatives, Fair Value [Line Items] | ||||
Gain (Loss) on Discontinuation of Cash Flow Hedge Due to Forecasted Transaction Probable of Not Occurring, Net | 0 | |||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax | (520) | |||
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net | (1,108) | 0 | ||
Interest expense | Cross-currency interest rate swaps | ||||
Derivatives, Fair Value [Line Items] | ||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax | $ 1,219 | |||
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net | $ 1,264 | $ 1,002 |
Information by Segment and Ge_3
Information by Segment and Geographic Area (Details) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019USD ($)segmentCustomer | Dec. 31, 2018USD ($)Customer | Dec. 31, 2017USD ($)Customer | |
Revenue, Major Customer [Line Items] | |||
Revenues | $ | $ 1,503,742 | $ 1,347,672 | $ 1,307,470 |
Number of reportable segments | segment | 3 | ||
Number of major customers | 1 | 1,000 | 1,000 |
Harsco Environmental | |||
Revenue, Major Customer [Line Items] | |||
Number of major customers | 1 | ||
Harsco Environmental | |||
Revenue, Major Customer [Line Items] | |||
Number of major customers | 1 | 1 | |
Clean Earth | |||
Revenue, Major Customer [Line Items] | |||
Number of major customers | 0 | ||
Harsco Rail | |||
Revenue, Major Customer [Line Items] | |||
Number of major customers | 1 | 1 | 1 |
All Other | |||
Revenue, Major Customer [Line Items] | |||
Revenues | $ | $ 718,663 | $ 745,943 | $ 736,958 |
U.S. Plans | |||
Revenue, Major Customer [Line Items] | |||
Revenues | $ | 640,390 | 458,383 | 423,888 |
United Kingdom | |||
Revenue, Major Customer [Line Items] | |||
Revenues | $ | $ 144,689 | $ 143,346 | $ 146,624 |
Information by Segment and Ge_4
Information by Segment and Geographic Area (Details 2) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Property, plant and equipment, net | $ 561,786 | $ 432,793 | $ 444,683 |
United States | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Property, plant and equipment, net | 193,692 | 98,851 | 86,266 |
China | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Property, plant and equipment, net | 99,369 | 89,502 | 95,562 |
Brazil | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Property, plant and equipment, net | 37,047 | 36,960 | 54,704 |
All Other | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Property, plant and equipment, net | $ 231,678 | $ 207,480 | $ 208,151 |
Information by Segment and Ge_5
Information by Segment and Geographic Area (Details 3) - USD ($) | 3 Months Ended | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Segment Reporting Information [Line Items] | ||||
Revenues | $ 1,503,742,000 | $ 1,347,672,000 | $ 1,307,470,000 | |
Operating income from continuing operations | 104,279,000 | 130,695,000 | 104,655,000 | |
Total assets | $ 1,578,685,000 | 2,367,467,000 | 1,632,867,000 | 1,578,685,000 |
Depreciation and Amortization | 135,094,000 | 125,056,000 | 122,577,000 | |
Capital Expenditures | 176,600,000 | 124,607,000 | 91,419,000 | |
Interest income | 1,975,000 | 2,155,000 | 2,469,000 | |
Interest expense | (36,586,000) | (21,531,000) | (26,862,000) | |
Defined benefit pension income (expense) | (5,493,000) | 3,457,000 | (2,595,000) | |
Loss on early extinguishment of debt | 2,300,000 | (7,704,000) | (1,127,000) | (2,265,000) |
Income from continuing operations before income taxes and equity income | 56,471,000 | 113,649,000 | 75,402,000 | |
Clean Earth | ||||
Segment Reporting Information [Line Items] | ||||
Operating income from continuing operations | 20,009,000 | 0 | 0 | |
Total assets | 0 | 745,410,000 | 0 | 0 |
Depreciation and Amortization | 12,855,000 | 0 | 0 | |
Capital Expenditures | 5,870,000 | 0 | 0 | |
Operating segments | ||||
Segment Reporting Information [Line Items] | ||||
Operating income from continuing operations | 156,015,000 | 158,536,000 | 135,315,000 | |
Operating segments | Harsco Environmental | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 1,034,847,000 | 1,068,304,000 | 1,011,328,000 | |
Operating income from continuing operations | 112,298,000 | 121,195,000 | 102,362,000 | |
Total assets | 1,184,280,000 | 1,296,061,000 | 1,230,152,000 | 1,184,280,000 |
Depreciation and Amortization | 112,126,000 | 115,059,000 | 112,329,000 | |
Capital Expenditures | 153,694,000 | 114,142,000 | 87,526,000 | |
Operating segments | Clean Earth | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 169,522,000 | 0 | 0 | |
Operating segments | Harsco Industrial | ||||
Segment Reporting Information [Line Items] | ||||
Total assets | 113,410,000 | 53,582,000 | 163,324,000 | 113,410,000 |
Operating segments | Harsco Rail | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 299,373,000 | 279,294,000 | 295,999,000 | |
Operating income from continuing operations | 23,708,000 | 37,341,000 | 32,953,000 | |
Total assets | 237,135,000 | 246,377,000 | 186,049,000 | 237,135,000 |
Depreciation and Amortization | 4,875,000 | 4,287,000 | 4,221,000 | |
Capital Expenditures | 15,274,000 | 9,152,000 | 2,403,000 | |
Corporate | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 0 | 74,000 | 143,000 | |
Operating income from continuing operations | (51,736,000) | (27,841,000) | (30,660,000) | |
Total assets | $ 43,860,000 | 26,037,000 | 53,342,000 | 43,860,000 |
Depreciation and Amortization | 5,238,000 | 5,710,000 | 6,027,000 | |
Capital Expenditures | $ 1,762,000 | $ 1,313,000 | $ 1,490,000 |
Revenue Recognition - Summary o
Revenue Recognition - Summary of Revenues by Primary Geographical Markets (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disaggregation of Revenue [Line Items] | |||
Total revenues | $ 1,503,742 | $ 1,347,672 | $ 1,307,470 |
Environmental services related to resource recovery for metals manufacturing; and related logistical services | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 881,696 | 924,766 | 890,371 |
Applied Products [Domain] | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 127,875 | 128,488 | 120,957 |
Aluminum Dross and Scrap Processing Systems [Domain] | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 25,276 | 15,050 | 0 |
Railway Track Maintenance Equipment [Domain] | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 145,968 | 112,547 | 146,267 |
After-market Parts and Services; Safety and Diagnostic Technology [Domain] | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 132,249 | 139,020 | 110,195 |
Railway Contracting Services [Domain] | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 21,156 | 27,727 | 39,537 |
Waste Processing and Reuse Solutions [Domain] | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 169,522 | 0 | 0 |
General Corporate | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 0 | 74 | 143 |
North America | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 685,613 | 507,524 | 471,186 |
Western Europe | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 431,162 | 438,856 | 448,461 |
Latin America | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 148,628 | 155,863 | 161,957 |
Asia-Pacific | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 159,441 | 167,850 | 156,218 |
Middle East and Africa | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 60,402 | 50,003 | 42,700 |
Eastern Europe | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 18,496 | 27,576 | 26,948 |
Corporate | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 0 | 74 | 143 |
Corporate | Environmental services related to resource recovery for metals manufacturing; and related logistical services | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 0 | 0 | 0 |
Corporate | Applied Products [Domain] | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 0 | 0 | 0 |
Corporate | Aluminum Dross and Scrap Processing Systems [Domain] | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 0 | 0 | 0 |
Corporate | Railway Track Maintenance Equipment [Domain] | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 0 | 0 | 0 |
Corporate | After-market Parts and Services; Safety and Diagnostic Technology [Domain] | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 0 | 0 | 0 |
Corporate | Railway Contracting Services [Domain] | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 0 | 0 | 0 |
Corporate | Waste Processing and Reuse Solutions [Domain] | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 0 | 0 | 0 |
Corporate | General Corporate | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 0 | 74 | 143 |
Corporate | North America | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 0 | 74 | 143 |
Corporate | Western Europe | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 0 | 0 | 0 |
Corporate | Latin America | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 0 | 0 | 0 |
Corporate | Asia-Pacific | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 0 | 0 | 0 |
Corporate | Middle East and Africa | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 0 | 0 | 0 |
Corporate | Eastern Europe | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 0 | 0 | 0 |
Harsco Environmental | Operating segments | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 1,034,847 | 1,068,304 | 1,011,328 |
Harsco Environmental | Operating segments | Environmental services related to resource recovery for metals manufacturing; and related logistical services | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 881,696 | 924,766 | 890,371 |
Harsco Environmental | Operating segments | Applied Products [Domain] | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 127,875 | 128,488 | 120,957 |
Harsco Environmental | Operating segments | Aluminum Dross and Scrap Processing Systems [Domain] | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 25,276 | 15,050 | 0 |
Harsco Environmental | Operating segments | Railway Track Maintenance Equipment [Domain] | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 0 | 0 | 0 |
Harsco Environmental | Operating segments | After-market Parts and Services; Safety and Diagnostic Technology [Domain] | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 0 | 0 | 0 |
Harsco Environmental | Operating segments | Railway Contracting Services [Domain] | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 0 | 0 | 0 |
Harsco Environmental | Operating segments | Waste Processing and Reuse Solutions [Domain] | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 0 | 0 | 0 |
Harsco Environmental | Operating segments | General Corporate | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 0 | 0 | 0 |
Harsco Environmental | Operating segments | North America | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 294,367 | 302,238 | 274,476 |
Harsco Environmental | Operating segments | Western Europe | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 386,593 | 390,840 | 369,763 |
Harsco Environmental | Operating segments | Latin America | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 146,040 | 151,886 | 159,130 |
Harsco Environmental | Operating segments | Asia-Pacific | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 128,949 | 145,761 | 138,311 |
Harsco Environmental | Operating segments | Middle East and Africa | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 60,402 | 50,003 | 42,700 |
Harsco Environmental | Operating segments | Eastern Europe | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 18,496 | 27,576 | 26,948 |
Clean Earth | Operating segments | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 169,522 | 0 | 0 |
Clean Earth | Operating segments | Environmental services related to resource recovery for metals manufacturing; and related logistical services | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 0 | 0 | 0 |
Clean Earth | Operating segments | Applied Products [Domain] | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 0 | 0 | 0 |
Clean Earth | Operating segments | Aluminum Dross and Scrap Processing Systems [Domain] | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 0 | 0 | 0 |
Clean Earth | Operating segments | Railway Track Maintenance Equipment [Domain] | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 0 | 0 | 0 |
Clean Earth | Operating segments | After-market Parts and Services; Safety and Diagnostic Technology [Domain] | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 0 | 0 | 0 |
Clean Earth | Operating segments | Railway Contracting Services [Domain] | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 0 | 0 | 0 |
Clean Earth | Operating segments | Waste Processing and Reuse Solutions [Domain] | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 169,522 | 0 | 0 |
Clean Earth | Operating segments | North America | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 169,522 | ||
Clean Earth | Operating segments | Western Europe | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 0 | ||
Clean Earth | Operating segments | Latin America | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 0 | ||
Clean Earth | Operating segments | Asia-Pacific | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 0 | ||
Clean Earth | Operating segments | Middle East and Africa | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 0 | ||
Clean Earth | Operating segments | Eastern Europe | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 0 | ||
Harsco Environmental | Operating segments | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 0 | 0 | |
Harsco Environmental | Operating segments | North America | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 0 | 0 | |
Harsco Environmental | Operating segments | Western Europe | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 0 | 0 | |
Harsco Environmental | Operating segments | Latin America | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 0 | 0 | |
Harsco Environmental | Operating segments | Asia-Pacific | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 0 | 0 | |
Harsco Environmental | Operating segments | Middle East and Africa | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 0 | 0 | |
Harsco Environmental | Operating segments | Eastern Europe | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 0 | 0 | |
Harsco Rail | Operating segments | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 299,373 | 279,294 | 295,999 |
Harsco Rail | Operating segments | Environmental services related to resource recovery for metals manufacturing; and related logistical services | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 0 | 0 | 0 |
Harsco Rail | Operating segments | Applied Products [Domain] | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 0 | 0 | 0 |
Harsco Rail | Operating segments | Aluminum Dross and Scrap Processing Systems [Domain] | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 0 | 0 | 0 |
Harsco Rail | Operating segments | Railway Track Maintenance Equipment [Domain] | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 145,968 | 112,547 | 146,267 |
Harsco Rail | Operating segments | After-market Parts and Services; Safety and Diagnostic Technology [Domain] | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 132,249 | 139,020 | 110,195 |
Harsco Rail | Operating segments | Railway Contracting Services [Domain] | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 21,156 | 27,727 | 39,537 |
Harsco Rail | Operating segments | Waste Processing and Reuse Solutions [Domain] | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 0 | 0 | 0 |
Harsco Rail | Operating segments | North America | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 221,724 | 205,212 | 196,567 |
Harsco Rail | Operating segments | Western Europe | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 44,569 | 48,016 | 78,698 |
Harsco Rail | Operating segments | Latin America | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 2,588 | 3,977 | 2,827 |
Harsco Rail | Operating segments | Asia-Pacific | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 30,492 | 22,089 | 17,907 |
Harsco Rail | Operating segments | Middle East and Africa | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | 0 | 0 | 0 |
Harsco Rail | Operating segments | Eastern Europe | |||
Disaggregation of Revenue [Line Items] | |||
Total revenues | $ 0 | $ 0 | $ 0 |
Revenue Recognition - Narrative
Revenue Recognition - Narrative (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Revenue from Contract with Customer [Abstract] | |||
Total contract assets | $ 31,200 | $ 12,100 | |
Revenue recognized in excess of amounts reclassified to trade accounts receivable, net | 60,300 | 67,100 | |
Contract with Customer, Liability, Revenue Recognized | 67,000 | ||
Contract with Customer, Performance Obligation Satisfied in Previous Period | 1,000 | ||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||
Product revenues | 1,503,742 | 1,347,672 | $ 1,307,470 |
Harsco Environmental | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-12-31 | |||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||
Remaining performance obligation | 43,500 | ||
Harsco Environmental | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-12-31 | |||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||
Remaining performance obligation | 35,000 | ||
Harsco Environmental | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-12-31 | |||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||
Remaining performance obligation | 33,800 | ||
Harsco Environmental | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-12-31 | |||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||
Remaining performance obligation | 20,400 | ||
Harsco Environmental | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: (nil) | |||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||
Remaining performance obligation | 152,500 | ||
Harsco Rail | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-12-31 | |||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||
Remaining performance obligation | 75,900 | ||
Harsco Rail | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-12-31 | |||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||
Remaining performance obligation | 83,000 | ||
Harsco Rail | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-12-31 | |||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||
Remaining performance obligation | 74,300 | ||
Harsco Rail | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-12-31 | |||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||
Remaining performance obligation | 52,500 | ||
Harsco Rail | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: (nil) | |||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||
Remaining performance obligation | 296,200 | ||
Waste Processing and Reuse Solutions [Domain] | |||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||
Product revenues | 169,522 | 0 | 0 |
Railway Contracting Services [Domain] | |||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||
Product revenues | 21,156 | 27,727 | 39,537 |
After-market Parts and Services; Safety and Diagnostic Technology [Domain] | |||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||
Product revenues | 132,249 | 139,020 | 110,195 |
Aluminum Dross and Scrap Processing Systems [Domain] | |||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||
Product revenues | 25,276 | 15,050 | 0 |
Railway Track Maintenance Equipment [Domain] | |||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||
Product revenues | 145,968 | 112,547 | 146,267 |
General Corporate | |||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||
Product revenues | 0 | 74 | 143 |
Environmental services related to resource recovery for metals manufacturing; and related logistical services | |||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||
Product revenues | 881,696 | 924,766 | 890,371 |
Applied Products [Domain] | |||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||
Product revenues | 127,875 | 128,488 | 120,957 |
Operating Segments [Member] | Harsco Environmental | |||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||
Product revenues | 0 | 0 | |
Operating Segments [Member] | Clean Earth | |||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||
Product revenues | 169,522 | 0 | 0 |
Operating Segments [Member] | Harsco Rail | |||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||
Product revenues | 299,373 | 279,294 | 295,999 |
Operating Segments [Member] | Harsco Environmental | |||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||
Product revenues | 1,034,847 | 1,068,304 | 1,011,328 |
Operating Segments [Member] | Waste Processing and Reuse Solutions [Domain] | Clean Earth | |||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||
Product revenues | 169,522 | 0 | 0 |
Operating Segments [Member] | Waste Processing and Reuse Solutions [Domain] | Harsco Rail | |||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||
Product revenues | 0 | 0 | 0 |
Operating Segments [Member] | Waste Processing and Reuse Solutions [Domain] | Harsco Environmental | |||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||
Product revenues | 0 | 0 | 0 |
Operating Segments [Member] | Railway Contracting Services [Domain] | Clean Earth | |||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||
Product revenues | 0 | 0 | 0 |
Operating Segments [Member] | Railway Contracting Services [Domain] | Harsco Rail | |||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||
Product revenues | 21,156 | 27,727 | 39,537 |
Operating Segments [Member] | Railway Contracting Services [Domain] | Harsco Environmental | |||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||
Product revenues | 0 | 0 | 0 |
Operating Segments [Member] | After-market Parts and Services; Safety and Diagnostic Technology [Domain] | Clean Earth | |||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||
Product revenues | 0 | 0 | 0 |
Operating Segments [Member] | After-market Parts and Services; Safety and Diagnostic Technology [Domain] | Harsco Rail | |||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||
Product revenues | 132,249 | 139,020 | 110,195 |
Operating Segments [Member] | After-market Parts and Services; Safety and Diagnostic Technology [Domain] | Harsco Environmental | |||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||
Product revenues | 0 | 0 | 0 |
Operating Segments [Member] | Aluminum Dross and Scrap Processing Systems [Domain] | Clean Earth | |||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||
Product revenues | 0 | 0 | 0 |
Operating Segments [Member] | Aluminum Dross and Scrap Processing Systems [Domain] | Harsco Rail | |||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||
Product revenues | 0 | 0 | 0 |
Operating Segments [Member] | Aluminum Dross and Scrap Processing Systems [Domain] | Harsco Environmental | |||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||
Product revenues | 25,276 | 15,050 | 0 |
Operating Segments [Member] | Railway Track Maintenance Equipment [Domain] | Clean Earth | |||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||
Product revenues | 0 | 0 | 0 |
Operating Segments [Member] | Railway Track Maintenance Equipment [Domain] | Harsco Rail | |||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||
Product revenues | 145,968 | 112,547 | 146,267 |
Operating Segments [Member] | Railway Track Maintenance Equipment [Domain] | Harsco Environmental | |||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||
Product revenues | 0 | 0 | 0 |
Operating Segments [Member] | General Corporate | Harsco Environmental | |||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||
Product revenues | 0 | 0 | 0 |
Operating Segments [Member] | Environmental services related to resource recovery for metals manufacturing; and related logistical services | Clean Earth | |||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||
Product revenues | 0 | 0 | 0 |
Operating Segments [Member] | Environmental services related to resource recovery for metals manufacturing; and related logistical services | Harsco Rail | |||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||
Product revenues | 0 | 0 | 0 |
Operating Segments [Member] | Environmental services related to resource recovery for metals manufacturing; and related logistical services | Harsco Environmental | |||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||
Product revenues | 881,696 | 924,766 | 890,371 |
Operating Segments [Member] | Applied Products [Domain] | Clean Earth | |||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||
Product revenues | 0 | 0 | 0 |
Operating Segments [Member] | Applied Products [Domain] | Harsco Rail | |||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||
Product revenues | 0 | 0 | 0 |
Operating Segments [Member] | Applied Products [Domain] | Harsco Environmental | |||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||
Product revenues | 127,875 | 128,488 | 120,957 |
Corporate | |||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||
Product revenues | 0 | 74 | 143 |
Corporate | Waste Processing and Reuse Solutions [Domain] | |||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||
Product revenues | 0 | 0 | 0 |
Corporate | Railway Contracting Services [Domain] | |||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||
Product revenues | 0 | 0 | 0 |
Corporate | After-market Parts and Services; Safety and Diagnostic Technology [Domain] | |||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||
Product revenues | 0 | 0 | 0 |
Corporate | Aluminum Dross and Scrap Processing Systems [Domain] | |||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||
Product revenues | 0 | 0 | 0 |
Corporate | Railway Track Maintenance Equipment [Domain] | |||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||
Product revenues | 0 | 0 | 0 |
Corporate | General Corporate | |||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||
Product revenues | 0 | 74 | 143 |
Corporate | Environmental services related to resource recovery for metals manufacturing; and related logistical services | |||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||
Product revenues | 0 | 0 | 0 |
Corporate | Applied Products [Domain] | |||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||
Product revenues | $ 0 | $ 0 | $ 0 |
Revenue Recognition - Performan
Revenue Recognition - Performance Obligation Period Narrative (Details) | Mar. 31, 2019 |
Harsco Environmental | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance period | 1 year |
Harsco Environmental | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance period | 1 year |
Harsco Environmental | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance period | 1 year |
Harsco Environmental | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance period | 1 year |
Harsco Environmental | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance period | |
Harsco Rail | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance period | 1 year |
Harsco Rail | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance period | 1 year |
Harsco Rail | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance period | 1 year |
Harsco Rail | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance period | 1 year |
Harsco Rail | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Performance period |
Other Expenses (Details)
Other Expenses (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Segment Reporting Information [Line Items] | ||||
Net gains | $ (6,303) | $ (3,868) | $ (1,354) | |
Employee termination benefit costs | 6,619 | 4,763 | 6,733 | |
Costs to exit activities | 4,208 | 170 | 1,262 | |
Impaired asset write-downs | 773 | 104 | 874 | |
Contingent Consideration Adjustments | 7,681 | 2,939 | 0 | |
Other expense | (237) | (431) | (188) | |
Total | $ (2,621) | (2,201) | 7,327 | |
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 35.00% | |||
Clean Earth | ||||
Segment Reporting Information [Line Items] | ||||
Employee termination benefit costs | $ 1,960 | 0 | 0 | |
Contingent Consideration Adjustments | 825 | 0 | ||
Harsco Rail | ||||
Segment Reporting Information [Line Items] | ||||
Employee termination benefit costs | 2,393 | 704 | 1,133 | |
Costs to exit activities | 3,042 | 0 | 0 | |
Impaired asset write-downs | 141 | 0 | 0 | |
Corporate | ||||
Segment Reporting Information [Line Items] | ||||
Net gains | 0 | (1,218) | 0 | |
Employee termination benefit costs | 1,012 | 1,206 | 1,189 | |
Costs to exit activities | 196 | (182) | 556 | |
Impaired asset write-downs | 0 | 0 | 168 | |
Harsco Environmental | ||||
Segment Reporting Information [Line Items] | ||||
Net gains | (6,303) | (2,650) | (1,354) | |
Employee termination benefit costs | 1,254 | 2,853 | 4,411 | |
Costs to exit activities | 970 | 352 | 706 | |
Impaired asset write-downs | 632 | 104 | 706 | |
Contingent Consideration Adjustments | $ 8,500 | $ 8,506 | $ (2,939) | $ 0 |
Components of Accumulated Oth_3
Components of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Jan. 01, 2019 | Jan. 01, 2018 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | |||||
Balances | $ 313,376 | $ 215,165 | $ 137,563 | ||
Adoption of new accounting standard | $ 0 | $ 2,374 | |||
Other comprehensive income (loss) before reclassifications | (22,035) | (39,875) | |||
Amounts reclassified from accumulated other comprehensive loss, net of tax | 21,977 | 18,370 | |||
Total other comprehensive income (loss) | (58) | (21,505) | 63,184 | ||
Less: Other comprehensive loss attributable to noncontrolling interests | 972 | 2,500 | |||
Other comprehensive income (loss) attributable to Harsco Corporation | 914 | (19,005) | |||
Balances | 789,659 | 313,376 | 215,165 | ||
Cumulative Foreign Exchange Translation Adjustments | |||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | |||||
Balances | (159,810) | (111,567) | |||
Adoption of new accounting standard | 0 | 0 | |||
Other comprehensive income (loss) before reclassifications | 17,261 | (50,743) | |||
Amounts reclassified from accumulated other comprehensive loss, net of tax | (1,763) | 0 | |||
Total other comprehensive income (loss) | 15,498 | (50,743) | |||
Less: Other comprehensive loss attributable to noncontrolling interests | 972 | 2,500 | |||
Other comprehensive income (loss) attributable to Harsco Corporation | 16,470 | (48,243) | |||
Balances | (143,340) | (159,810) | (111,567) | ||
Effective Portion of Derivatives Designated as Hedging Instruments | |||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | |||||
Balances | 1,389 | 808 | |||
Adoption of new accounting standard | 0 | (1,520) | |||
Other comprehensive income (loss) before reclassifications | (7,050) | 2,466 | |||
Amounts reclassified from accumulated other comprehensive loss, net of tax | 1,944 | (365) | |||
Total other comprehensive income (loss) | (5,106) | 2,101 | |||
Less: Other comprehensive loss attributable to noncontrolling interests | 0 | 0 | |||
Other comprehensive income (loss) attributable to Harsco Corporation | (5,106) | 2,101 | |||
Balances | (3,717) | 1,389 | 808 | ||
Cumulative Unrecognized Actuarial Losses on Pension Obligations | |||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | |||||
Balances | (408,655) | (435,840) | |||
Adoption of new accounting standard | (21,429) | 0 | |||
Other comprehensive income (loss) before reclassifications | (32,274) | 8,450 | |||
Amounts reclassified from accumulated other comprehensive loss, net of tax | 21,796 | 18,735 | |||
Total other comprehensive income (loss) | (10,478) | 27,185 | |||
Less: Other comprehensive loss attributable to noncontrolling interests | 0 | 0 | |||
Other comprehensive income (loss) attributable to Harsco Corporation | (10,478) | 27,185 | |||
Balances | (440,562) | (408,655) | (435,840) | ||
Unrealized Loss on Marketable Securities | |||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | |||||
Balances | (31) | 17 | |||
Adoption of new accounting standard | 0 | 0 | |||
Other comprehensive income (loss) before reclassifications | 28 | (48) | |||
Amounts reclassified from accumulated other comprehensive loss, net of tax | 0 | 0 | |||
Total other comprehensive income (loss) | 28 | (48) | |||
Less: Other comprehensive loss attributable to noncontrolling interests | 0 | 0 | |||
Other comprehensive income (loss) attributable to Harsco Corporation | 28 | (48) | |||
Balances | (3) | (31) | 17 | ||
Total | |||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | |||||
Balances | (567,107) | (546,582) | (606,722) | ||
Adoption of new accounting standard | $ (21,429) | $ (1,520) | |||
Total other comprehensive income (loss) | 914 | (19,005) | 60,140 | ||
Balances | (587,622) | (567,107) | (546,582) | ||
Accounting Standards Update 2014-09 | |||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | |||||
Balances | (588,536) | (548,102) | |||
Balances | (588,536) | (548,102) | |||
Accounting Standards Update 2014-09 | Cumulative Foreign Exchange Translation Adjustments | |||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | |||||
Balances | (159,810) | (111,567) | |||
Balances | (159,810) | (111,567) | |||
Accounting Standards Update 2014-09 | Effective Portion of Derivatives Designated as Hedging Instruments | |||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | |||||
Balances | 1,389 | (712) | |||
Balances | 1,389 | (712) | |||
Accounting Standards Update 2014-09 | Cumulative Unrecognized Actuarial Losses on Pension Obligations | |||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | |||||
Balances | (430,084) | (435,840) | |||
Balances | (430,084) | (435,840) | |||
Accounting Standards Update 2014-09 | Unrealized Loss on Marketable Securities | |||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | |||||
Balances | $ (31) | 17 | |||
Balances | $ (31) | $ 17 |
Components of Accumulated Oth_4
Components of Accumulated Other Comprehensive Loss (Details 2) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ||||
Revenues | $ 1,503,742 | $ 1,347,672 | $ 1,307,470 | |
Interest expense | (36,586) | (21,531) | (26,862) | |
Discontinued Operation, Income (Loss) from Discontinued Operation, before Income Tax | 27,531 | 43,942 | 20,379 | |
Total costs and expenses | 1,399,463 | 1,216,977 | 1,202,815 | |
Income from continuing operations before income taxes | 56,471 | 113,649 | 75,402 | |
Income Tax Expense (Benefit) | 20,214 | 5,499 | 78,190 | |
Net income (loss) | (512,218) | (145,013) | (11,844) | |
Other Operating Income (Expense), Net | 2,621 | 2,201 | $ (7,327) | |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Cumulative Unrecognized Actuarial Losses on Pension Obligations | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ||||
Total costs and expenses | 23,351 | 20,124 | ||
Income Tax Expense (Benefit) | (1,555) | (1,389) | ||
Net income (loss) | 21,796 | 18,735 | ||
Reclassification out of Accumulated Other Comprehensive Income [Member] | Amortization of Actuarial Losses | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ||||
Pension and Other Postretirement Benefits Cost (Reversal of Cost) | 19,806 | 20,014 | ||
Reclassification out of Accumulated Other Comprehensive Income [Member] | Amortization of Prior Service Costs | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ||||
Pension and Other Postretirement Benefits Cost (Reversal of Cost) | 326 | (139) | ||
Cost of services and products sold | 3,200 | 0 | ||
Reclassification out of Accumulated Other Comprehensive Income [Member] | Settlement/Curtailment Losses [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ||||
Pension and Other Postretirement Benefits Cost (Reversal of Cost) | 19 | 249 | ||
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Defined Benefit Plans Adjustment, Net Gain (Loss) Attributable to Parent [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ||||
Other Operating Income (Expense), Net | (2,425) | 0 | ||
Discontinued Operation, Gain From Disposal Of Discontinued Operation, Before Income Tax | $ 662 | 0 | ||
Reclassification out of Accumulated Other Comprehensive Income [Member] | Effective Portion of Derivatives Designated as Hedging Instruments | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ||||
Income Tax Expense (Benefit) | $ (990) | (147) | ||
Reclassification out of Accumulated Other Comprehensive Income [Member] | Foreign currency exchange forward contracts | Effective Portion of Derivatives Designated as Hedging Instruments | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ||||
Revenues | (550) | (374) | ||
Cost of services and products sold | 44 | 0 | ||
Income from continuing operations before income taxes | 2,934 | (218) | ||
Net income (loss) | 1,944 | (365) | ||
Reclassification out of Accumulated Other Comprehensive Income [Member] | Cross-currency interest rate swaps | Effective Portion of Derivatives Designated as Hedging Instruments | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ||||
Interest expense | (1,219) | (1,264) | ||
Reclassification out of Accumulated Other Comprehensive Income [Member] | Interest rate swaps | Effective Portion of Derivatives Designated as Hedging Instruments | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ||||
Interest expense | 520 | 1,108 | ||
Discontinued Operation, Income (Loss) from Discontinued Operation, before Income Tax | $ 2,741 | $ 0 |
SCHEDULE II. VALUATION AND QU_2
SCHEDULE II. VALUATION AND QUALIFYING ACCOUNTS (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward] | |||
Decrease in valuation allowance | $ (7,900) | ||
Change in Estimate of Interest Deductions | |||
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward] | |||
Decrease in valuation allowance | $ (5,400) | ||
Allowance for Doubtful Accounts | |||
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward] | |||
Balance at Beginning of Period | 4,586 | 4,470 | $ 11,558 |
Charged to Cost and Expenses | 7,507 | 380 | 5,211 |
Due to Currency Translation Adjustments | 370 | (149) | 524 |
Other | 1,049 | (115) | (12,823) |
Balance at End of Period | 13,512 | 4,586 | 4,470 |
Deferred Tax Assets - Valuation Allowance | |||
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward] | |||
Balance at Beginning of Period | 137,450 | 172,846 | 145,216 |
Charged to Cost and Expenses | (7,395) | (20,104) | 32,785 |
Due to Currency Translation Adjustments | 448 | (8,612) | 9,853 |
Other | (3,429) | (6,680) | (15,008) |
Balance at End of Period | 127,074 | 137,450 | 172,846 |
Valuation Allowance, Deferred Tax Asset, liquidation and Merger of Entities [Member] | |||
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward] | |||
Decrease in valuation allowance | (5,600) | ||
Capital Loss Carryforward | |||
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward] | |||
Decrease in valuation allowance | $ (1,100) | ||
Pension Adjustments | |||
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward] | |||
Decrease in valuation allowance | (900) | (11,600) | |
Valuation Allowance, Deferred Tax Asset, Tax Credit [Member] | |||
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward] | |||
Decrease in valuation allowance | $ (800) | ||
US tax rate change | |||
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward] | |||
Decrease in valuation allowance | $ (4,600) |
Subsequent Event (Details)
Subsequent Event (Details) $ in Millions | Feb. 07, 2020USD ($) |
ESOL [Member] | Subsequent Event [Member] | |
Subsequent Event [Line Items] | |
Purchase price | $ 462.5 |
Uncategorized Items - hsc-20191
Label | Element | Value |
Additional Paid-in Capital [Member] | ||
Cumulative Effect of New Accounting Principle in Period of Adoption | us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption | |
Cumulative Effect of New Accounting Principle in Period of Adoption | us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption | 1,106,000 |
Retained Earnings [Member] | ||
Cumulative Effect of New Accounting Principle in Period of Adoption | us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption | 21,429,000 |
Cumulative Effect of New Accounting Principle in Period of Adoption | us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption | (709,000) |
Cumulative Effect of New Accounting Principle in Period of Adoption | us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption | $ 3,894,000 |