Reportable Segments

3 Months Ended

Mar. 31, 2015

Reportable Segments [Abstract]

Reportable Segments

3. Reportable Segments

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

	Three months ended March 31,
(in thousands)	2015			2014
Net sales
Machine Clothing	$	158,494		$	164,088
Albany Engineered Composites		22,830			16,219
Consolidated total	$	181,324		$	180,307
Operating income
Machine Clothing	$	35,689		$	36,142
Albany Engineered Composites		(3,811	)		(3,475	)
Corporate expenses		(11,729	)		(12,066	)
Operating income before reconciling items		20,149			20,601
Reconciling items:
Interest income		(340	)		(196	)
Interest expense		3,016			3,114
Other expense/(income), net		(3,285	)		(467	)
Income before income taxes	$	20,758		$	18,150

 

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

	Three months ended March 31,
(in thousands)	2015		2014
Restructuring expense
Machine Clothing	$	9,001	$	862
Albany Engineered Composites		-		320
Consolidated total	$	9,001	$	1,182

2015 Machine Clothing restructuring expense was principally related to the announced plan to discontinue manufacturing operations at its press fabric manufacturing facility in Germany. Machine Clothing restructuring costs in 2014 were principally related to restructuring actions in France.  Albany Engineered Composites restructuring expense in 2014 was related to organizational changes.

There were no material changes in the total assets of the reportable segments during this period.