Pay vs Performance Disclosure - USD ($)

4 Months Ended

8 Months Ended

12 Months Ended

Dec. 31, 2023

Aug. 31, 2023

Dec. 31, 2023

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Pay vs Performance Disclosure

Pay vs Performance Disclosure, Table


													Value of initial fixed $100 investment based on :

Year	Summary Compensation Table Total for First PEO		Summary Compensation Table Total for Second PEO		Compensation Actually Paid to First PEO		Compensation Actually Paid to Second PEO		Average Summary Compensation Table Total for non-PEO NEOs		Average Compensation Actually Paid to non-PEO NEOs		Total Shareholder Return ($)	Peer Group Total Shareholder Return	Net Income ($ million)	Adjusted EBITDA ($ million)
(a)	(b)		(c)		(d)		(e)		(f)		(g)		(h)	(i)	(j)	(k)
2023	$	4,300,649	$	4,247,149	$	4,905,001	$	4,563,712	$	2,334,459	$	2,241,045	100.72	121.82	111.6	265.1
2022	$	4,660,482	N/A		$	6,318,295	N/A		$	1,763,694	$	2,162,432	134.28	113.29	96.5	253.5
2021	$	4,725,711	N/A		$	6,065,337	N/A		$	1,737,959	$	2,202,801	119.3	108.68	118.8	250.9
2020	$3,714,562		N/A		$	3,666,927	N/A		$	1,671,398	$	1,619,119	98.09	102.37	98.6	251.9

Column (b). Amounts reported in this column and others related to the “First PEO” are for A. William Higgins, who served as President and Chief Executive Officer of the Company until his retirement from employment in August 2023.

Column (c). Amounts reported in this column and others related to the “Second PEO” are for Gunnar Kleveland, who succeeded Mr. Higgins as President and Chief Executive Officer of the Company upon Mr. Higgins' retirement.

Column (d). “Compensation actually paid” to our First PEO in each of 2020, 2021,, 2022 and 2023 reflects the respective amounts shown in Column (b) of the table above, adjusted as set forth in the table below, as required by SEC rules.

Column (e). “Compensation actually paid” to our Second PEO in each of 202, 2021, 2022 and 2023 reflects the respective amounts shown in Column (c) of the table above, adjusted as set forth in the table below, as required by SEC rules. The dollar amounts do not reflect the actual amounts of compensation earned or paid during the applicable year.

Column (f). Reflects the average total compensation amounts reported in the Summary Compensation Table for all NEOs other than First President and CEO, A. William Higgins and Second President and CEO Gunnar Kleveland. For 2020-2022, our non-PEO NEOs were Stephen Nolan, Daniel Halftermeyer, Greg Harwell and Joseph Gaug. For 2023, our non-CEO NEOs were Stephen Nolan, Robert Starr, Daniel Halftermeyer, Greg Harwell and Joseph Gaug.

Column (g). Average “Compensation actually paid” to our non-PEO NEOs in each of 2021, 2022 and 2023 reflects the respective amounts shown in Column (f) of the table above, adjusted as set forth in the table below, as required by SEC rules. The dollar amounts do not reflect the actual amounts of compensation earned or paid during the applicable year.

Column (h). For the relevant year, represents the cumulative total shareholder return (TSR) for the Company for the measurement period ending December 31, 2023, 2022 and 2021, respectively. TSR assumes that $100 was invested on December 31, 2020, and that dividends were reinvested when and as paid.

Column (i). For the relevant year, represents the cumulative total shareholder return (TSR) for the Company’s compensation benchmarking peer groups.For 2023, this group is the same group identified on page 29. However, prior to 2022, the benchmarking peer group consisted of: Aerojet Rocketdyne Holdings Inc, Barnes Group Inc, Curtiss-Wright Corp, Donaldson Company Inc, Esco Technologies Inc, Glatfelter Corp, Heico Corp, Hexcel Corp, Kadant Inc, Kaman Corp, Mativ Holdings Inc, Teledyne Technologies Inc, Trimas Corp and Woodward Inc. The TSRs shown reflect the differing peer groups for the applicable periods.

Company Selected Measure Name

AIN Adjusted EBITDA

Named Executive Officers, Footnote

Column (b). Amounts reported in this column and others related to the “First PEO” are for A. William Higgins, who served as President and Chief Executive Officer of the Company until his retirement from employment in August 2023.

Column (c). Amounts reported in this column and others related to the “Second PEO” are for Gunnar Kleveland, who succeeded Mr. Higgins as President and Chief Executive Officer of the Company upon Mr. Higgins' retirement.

Column (f). Reflects the average total compensation amounts reported in the Summary Compensation Table for all NEOs other than First President and CEO, A. William Higgins and Second President and CEO Gunnar Kleveland. For 2020-2022, our non-PEO NEOs were Stephen Nolan, Daniel Halftermeyer, Greg Harwell and Joseph Gaug. For 2023, our non-CEO NEOs were Stephen Nolan, Robert Starr, Daniel Halftermeyer, Greg Harwell and Joseph Gaug.

Peer Group Issuers, Footnote

Column (i). For the relevant year, represents the cumulative total shareholder return (TSR) for the Company’s compensation benchmarking peer groups.For 2023, this group is the same group identified on page 29. However, prior to 2022, the benchmarking peer group consisted of: Aerojet Rocketdyne Holdings Inc, Barnes Group Inc, Curtiss-Wright Corp, Donaldson Company Inc, Esco Technologies Inc, Glatfelter Corp, Heico Corp, Hexcel Corp, Kadant Inc, Kaman Corp, Mativ Holdings Inc, Teledyne Technologies Inc, Trimas Corp and Woodward Inc. The TSRs shown reflect the differing peer groups for the applicable periods.

Adjustment To PEO Compensation, Footnote

Column (d). “Compensation actually paid” to our First PEO in each of 2020, 2021,, 2022 and 2023 reflects the respective amounts shown in Column (b) of the table above, adjusted as set forth in the table below, as required by SEC rules.Column (e). “Compensation actually paid” to our Second PEO in each of 202, 2021, 2022 and 2023 reflects the respective amounts shown in Column (c) of the table above, adjusted as set forth in the table below, as required by SEC rules. The dollar amounts do not reflect the actual amounts of compensation earned or paid during the applicable year.


Year	2020		2021		2022		2023		2023
CEO	Higgins		Higgins		Higgins		Higgins		Kleveland

SCT Total Compensation ($)	$	3,714,562	$	4,725,711	$	4,660,482	$	4,300,649	$	4,247,149

Less: Stock Award Values reported in SCT for the applicable year ($)	$	1,700,000	$	2,000,000	$	2,200,000	$	2,400,000	$	3,300,000

Plus: YE Fair Value of Stock Awards granted in the applicable year ($)	$	1,652,365	$	2,558,110	$	2,652,019	$	1,389,930	$	3,616,563

Change in Fair Value of outstanding unvested stock awards from prior years ($)	$	—	$	781,516	$	1,217,979	$	488,764	—

Change in Fair Value of Stock Awards from prior years that vested in the applicable year ($)	$	—	$	—	$	(12,185)	$	1,125,658	—

Less: Fair value of Stock Awards forfeited during the applicable year	$	—	$	—	$	—	$	—	—

Less: Aggregate change in Actuarial Present Value of accumulated pension benefit	$	—	$	—	$	—	$	—	—

Plus: Aggregate Service cost and prior year costs for pension benefit	$	—	$	—	$	—	$	—	—

Compensation Actually Paid	$	3,666,927	$	6,065,337	$	6,318,295	$	4,905,001	$	4,563,712

Non-PEO NEO Average Total Compensation Amount

$ 2,334,459

$ 1,763,694

$ 1,737,959

$ 1,671,398

Non-PEO NEO Average Compensation Actually Paid Amount

$ 2,241,045

$ 2,162,432

2,202,801

1,619,119

Adjustment to Non-PEO NEO Compensation Footnote

Column (g). Average “Compensation actually paid” to our non-PEO NEOs in each of 2021, 2022 and 2023 reflects the respective amounts shown in Column (f) of the table above, adjusted as set forth in the table below, as required by SEC rules. The dollar amounts do not reflect the actual amounts of compensation earned or paid during the applicable year.


Year	2020		2021		2022		2023
	(Average)		(Average)		(Average)		(Average)

SCT Total Compensation ($)	$	1,671,398	$	1,737,959	$	1,763,694	$	2,334,459

Less: Stock Award Values reported in SCT for the applicable year ($)	$	460,054	$	545,079	$	630,813	$	1,283,371

Plus: YE Fair Value of Stock Awards granted in the applicable year ($)	$	461,214	$	689,874	$	758,207	$	1,415,779

Change in Fair Value of outstanding unvested stock awards from prior years ($)	$	12,573	$	270,052	$	292,308	$	57,968

Change in Fair Value of Stock Awards from prior years that vested in the applicable year ($)	$	(66,012)	$	49,995	$	(20,964)	$	16,416

Less: Fair value of Stock Awards forfeited during the applicable year ($)	$	—	$	—	$	—	$	300,206

Less: Aggregate change in Actuarial Present Value of accumulated pension benefit ($)	$	—	$	—	$	—	$	—

Plus: Aggregate Service cost and prior year costs for pension benefit	$	—	$	—	$	—	$	—

Compensation Actually Paid	$	1,619,119	$	2,202,801	$	2,162,432	$	2,241,045

Compensation Actually Paid vs. Total Shareholder Return

CAP vs Net Income and Adjusted EBITDA 2023.jpg

Compensation Actually Paid vs. Net Income

CAP vs Net Income and Adjusted EBITDA 2022.jpg

Compensation Actually Paid vs. Company Selected Measure

Total Shareholder Return Vs Peer Group

Tabular List, Table


Most Important Performance Metrics
•AIN Adjusted EBITDA
•MC Adjusted EBITDA
•AEC Adjusted EBITDA
•AIN TRIR

Total Shareholder Return Amount

$ 100.72

$ 134.28

119.3

98.09

Peer Group Total Shareholder Return Amount

121.82

113.29

108.68

102.37

Net Income (Loss)

$ 111,600,000

$ 96,500,000

$ 118,800,000

$ 98,600,000

Company Selected Measure Amount

265,100,000

253,500,000

250,900,000

251,900,000

PEO Name

Gunnar Kleveland

A. William Higgins

Additional 402(v) Disclosure

Column (h). For the relevant year, represents the cumulative total shareholder return (TSR) for the Company for the measurement period ending December 31, 2023, 2022 and 2021, respectively. TSR assumes that $100 was invested on December 31, 2020, and that dividends were reinvested when and as paid.

Column (j). Reflects “Net Income” as shown in the Company’s Consolidated Income Statements included in the Company’s Annual Reports on Form 10-K for each of the years ended December 31, 2023, 2022 and 2021.

No dividends are paid or accrued on any unvested equity awards. No adjustments were made relative to pension benefits, as Mr. Halftermeyer is the only PEO or NEO who participates in a defined benefit pension plan. As a non-U.S. citizen, Mr. Halftermeyer participates in foreign pension schemes, and the costs of his retirement benefits are paid through defined premium costs which are already included in his summary compensation table totals.

Relationship between “Compensation Actually Paid” and Performance

The graphs that follow show the relationship of “compensation actually paid” to our PEOs and other named executive officers in, 2020, 2021, 2022 and 2023 to (1) the TSR for both the Company and our compensation peer benchmarking groups, (2) the Company’s net income, and (3) the Company’s adjusted EBITDA. For the purposes of these graphs, an averaged "compensation actually earned" is used for Messrs. Higgins and Kleveland for 2023

Measure:: 1

Pay vs Performance Disclosure

Name

•AIN Adjusted EBITDA

Non-GAAP Measure Description

Column (k). AIN Adjusted EBITDA was chosen as the “company selected financial metric” as it is the most heavily weighted of the annual performance measurement metric used in our executive compensation program (see pp. 33-35).

Measure:: 2