Reportable Segments (Tables)

9 Months Ended

Sep. 30, 2020

Schedule of Segment Reporting Information, by Segment

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


	Three months ended September 30,				Nine months ended September 30,
(in thousands)	2020		2019		2020		2019
Net sales
Machine Clothing	$	138,747	$	151,324	$	428,782	$	450,673
Albany Engineered Composites	73,252		119,809		244,971		345,781
Consolidated total	$	211,999	$	271,133	$	673,753	$	796,454
Operating income/(loss)
Machine Clothing	$	45,699	$	51,906	$	149,418	$	145,688
Albany Engineered Composites	6,828		17,345		22,749		44,598
Corporate expenses	(13,754)		(13,573)		(41,073)		(40,290)
Operating income	$	38,773	$	55,678	$	131,094	$	149,996
Reconciling items:
Interest income	(1,485)		(851)		(2,280)		(2,037)
Interest expense	3,727		4,838		12,322		15,072
Other expense/(income), net	(2,745)		(1,628)		13,915		(1,906)
Income before income taxes	$	39,276	$	53,319	$	107,137	$	138,867

Schedule of Restructuring Costs by Reporting Segment

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


	Three months ended September 30,				Nine months ended September 30,
(in thousands)	2020		2019		2020		2019
Machine Clothing	$	384	$	(211)	$	1,414	$	1,125
Albany Engineered Composites	358		(33)		2,606		18
Corporate expenses	(32)		—		169		(4)
Total	$	710	$	(244)	$	4,189	$	1,139

Disaggregation of Revenue

The following tables disaggregate revenue for each product group by timing of revenue recognition:


	Three months ended September 30, 2020
(in thousands)	Point in Time Revenue Recognition		Over Time Revenue Recognition		Total

Machine Clothing	$	137,899	$	848	$	138,747

Albany Engineered Composites
ASC	—		17,301		17,301
Other AEC	4,479		51,472		55,951
Total Albany Engineered Composites	4,479		68,773		73,252

Total revenue	$	142,378	$	69,621	$	211,999


	Nine months ended September 30, 2020
(in thousands)	Point in Time Revenue Recognition		Over Time Revenue Recognition		Total

Machine Clothing	$	426,238	$	2,544	$	428,782

Albany Engineered Composites
ASC	—		72,771		72,771
Other AEC	14,942		157,258		172,200
Total Albany Engineered Composites	14,942		230,029		244,971

Total revenue	$	441,180	$	232,573	$	673,753


	Three months ended September 30, 2019
(in thousands)	Point in Time Revenue Recognition		Over Time Revenue Recognition		Total

Machine Clothing	$	150,524	$	800	$	151,324

Albany Engineered Composites
ASC	—		56,414		56,414
Other AEC	6,708		56,687		63,395
Total Albany Engineered Composites	6,708		113,101		119,809

Total revenue	$	157,232	$	113,901	$	271,133


	Nine months ended September 30, 2019
(in thousands)	Point in Time Revenue Recognition		Over Time Revenue Recognition		Total

Machine Clothing	$	448,273	$	2,400	$	450,673

Albany Engineered Composites
ASC	—		170,551		170,551
Other AEC	22,850		152,380		175,230
Total Albany Engineered Composites	22,850		322,931		345,781

Total revenue	$	471,123	$	325,331	$	796,454

Schedule of Disaggregate MC Segment Revenue by Significant Product or Service

The following table disaggregates MC segment revenue by significant product groupings (paper machine clothing (PMC) and engineered fabrics), and, for PMC, the geographical region to which the paper machine clothing was sold:


	Three months ended September 30,				Nine months ended September 30,
(in thousands)	2020		2019		2020		2019

Americas PMC	$	70,663	$	82,763	$	225,565	$	239,686
Eurasia PMC	50,923		50,330		150,220		155,849
Engineered Fabrics	17,161		18,231		52,997		55,138
Total Machine Clothing Net sales	$	138,747	$	151,324	$	428,782	$	450,673