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Reportable Segments and Revenue Recognition (Tables)
6 Months Ended
Jun. 30, 2023
Segment Reporting [Abstract]  
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 June 30,Six months ended June 30,
(in thousands)
2023202220232022
Net revenues
Machine Clothing
$159,217 $151,670 $312,439 $305,732 
Albany Engineered Composites114,906 109,699 230,780 199,806 
Consolidated revenues$274,123 $261,369 $543,219 $505,538 
Operating income/(loss)
Machine Clothing
$53,726 $54,861 $102,690 $104,505 
Albany Engineered Composites8,668 9,535 18,086 10,730 
Corporate expenses(16,893)(13,681)(34,733)(25,766)
Consolidated Operating income$45,501 $50,715 $86,043 $89,469 
Reconciling items:
Interest income(1,838)(846)(2,944)(1,498)
Interest expense
4,944 4,779 9,340 9,040 
Other (income)/expense, net(4,511)(7,045)(4,966)(10,973)
Income before income taxes$46,906 $53,827 $84,613 $92,900 
Schedule of Disaggregation of Revenue For Each Product Group by Timing of Revenue Recognition
The following table disaggregates revenue for each product group by timing of revenue recognition for the three months ended June 30, 2023:
Three months ended June 30, 2023
(in thousands)
Point in Time Revenue
Recognition
Over Time Revenue
Recognition
Total
Machine Clothing$158,273 $944 $159,217 
Albany Engineered Composites:
   ASC 47,417 47,417 
   Other AEC3,511 63,978 67,489 
Total Albany Engineered Composites
3,511 111,395 114,906 
                                         
Total revenues$161,784 $112,339 $274,123 
The following table disaggregates revenue for each product group by timing of revenue recognition for the three months ended June 30, 2022:
Three months ended June 30, 2022
(in thousands)
Point in Time Revenue
Recognition
Over Time Revenue
Recognition
Total
Machine Clothing$150,770 $900 $151,670 
Albany Engineered Composites:
   ASC— 41,661 41,661 
   Other AEC5,018 63,020 68,038 
Total Albany Engineered Composites
5,018 104,681 109,699 
Total revenues$155,788 $105,581 $261,369 
The following table disaggregates revenue for each product group by timing of revenue recognition for the six months ended June 30, 2023:
Six months ended June 30, 2023
(in thousands)
Point in Time Revenue
Recognition
Over Time Revenue
Recognition
Total
Machine Clothing$310,551 $1,888 $312,439 
Albany Engineered Composites:
   ASC 91,949 91,949 
   Other AEC9,304 129,527 138,831 
Total Albany Engineered Composites9,304 221,476 230,780 
Total revenues$319,855 $223,364 $543,219 
The following table disaggregates revenue for each product group by timing of revenue recognition for the six months ended June 30, 2022:
Six months ended June 30, 2022
(in thousands)Point in Time Revenue
Recognition
Over Time Revenue
Recognition
Total
Machine Clothing$303,933 $1,799 $305,732 
Albany Engineered Composites:
   ASC— 81,373 81,373 
   Other AEC8,931 109,502 118,433 
Total Albany Engineered Composites8,931 190,875 199,806 
Total revenues$312,864 $192,674 $505,538 
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 June 30,Six months ended June 30,
(in thousands)
2023202220232022
Americas PMC$94,154 $79,062 $177,532 $155,678 
Eurasia PMC
48,541 52,368 100,278 107,854 
Engineered Fabrics16,522 20,240 34,629 42,200 
Total Machine Clothing net revenues$159,217 $151,670 $312,439 $305,732