Reportable Segments and Geographic Data (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of Financial Data by Reporting Segment

As described in Note 2, effective January 1, 2018, the Company adopted the provisions of ASC 606, “Revenue from contracts with customers”, using the cumulative effect method for translation. Periods prior to 2018 have not been restated. The following tables show data by reportable segment, reconciled to consolidated totals included in the financial statements:

(in thousands)	2019	2018	2017	Year ended December 31, 2018 Increase/(decrease) attributable to application of ASC 606
Net Sales
Machine Clothing	$601,254	$611,858	$590,357	$(3,970)
Albany Engineered Composites	452,878	370,621	273,360	(3,150)
Consolidated total	$1,054,132	$982,479	$863,717	$(7,120)
Depreciation and amortization
Machine Clothing	21,875	30,813	33,527	—
Albany Engineered Composites	44,670	43,205	33,533	—
Corporate expenses	4,250	5,018	4,896	—
Consolidated total	$70,795	$79,036	$71,956	$—
Operating income/(loss)
Machine Clothing	191,965	169,836	153,980	(1,605)
Albany Engineered Composites	55,520	16,647	(31,657)	4,930
Corporate expenses	(53,909)	(49,075)	(43,647)	—
Operating income	$193,576	$137,408	$78,676	$3,325
Reconciling items:
Interest income	(2,729)	(2,118)	(1,511)	—
Interest expense	19,650	20,242	18,602	—
Other expense, net	(1,557)	4,037	6,877	—
Income before income taxes	$178,212	$115,247	$54,708	$3,325

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

(in thousands)	2019	2018	2017
Restructuring expenses, net
Machine Clothing	$1,129	$12,278	$3,429
Albany Engineered Composites	1,833	3,048	10,062
Corporate expenses	(57)	244	—
Consolidated total	$2,905	$15,570	$13,491

Schedule of Restructuring Costs by Reporting Segment

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

Schedule of Operating Assets and Capital Expenditures by Reporting Segment

The following table presents assets and capital expenditures by reportable segment:

(in thousands)	2019	2018	2017
Segment assets
Machine Clothing	$441,072	$453,836	$464,468
Albany Engineered Composites	693,799	633,394	584,076
Reconciling items:
Cash	195,540	197,755	183,727
Income taxes prepaid, receivable and deferred	57,783	70,095	74,914
Prepaid and Other assets	86,174	62,912	54,013
Consolidated total assets	$1,474,368	$1,417,992	$1,361,198

Capital expenditures and purchased software
Machine Clothing	$16,707	$20,230	$20,522
Albany Engineered Composites	48,753	60,121	63,865
Corporate expenses	2,495	2,535	3,250
Consolidated total	$67,955	$82,886	$87,637

Schedule of Financial Data by Geographic Area

Index

ALBANY INTERNATIONAL CORP.

Notes to Consolidated Financial Statements

3. Reportable Segments and Geographic Data — (continued)

The following table shows data by geographic area. Net sales are based on the location of the operation recording the final sale to the customer. Net sales recorded by our entity in Switzerland are derived from products sold throughout Europe and Asia, and are invoiced in various currencies.

(in thousands)	2019	2018	2017
Net sales
United States	$574,063	$519,349	$459,525
Switzerland	146,571	157,339	147,601
France	91,783	85,386	57,195
Mexico	73,039	48,534	31,902
Brazil	64,666	62,093	60,535
China	48,586	50,923	48,920
Other countries	55,424	58,855	58,039
Consolidated total	$1,054,132	$982,479	$863,717

Property, plant and equipment, at cost, net
United States	$275,965	$272,584	$252,639
Mexico	45,640	40,343	22,981
France	43,986	50,245	58,196
China	41,799	48,686	61,840
United Kingdom	11,047	12,042	14,256
South Korea	10,795	12,396	14,558
Germany (a)	10,577	27	39
Canada	9,509	8,154	10,230
Other countries	17,144	17,578	19,563
Consolidated total	$466,462	$462,055	$454,302