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Quarterly Financial Data (Tables) | 12 Months Ended
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Dec. 31, 2018
Quarterly Financial Data [Abstract] |
Schedule of Quarterly Data | In the fourth quarter of 2018, the Company discovered that ASC 606, Revenue from contracts with customers, implementation issues in its MC business segment had resulted in immaterial errors in certain reported segment and consolidated Company financial statement line items – including Net sales and Net income - for each of the first three quarters of 2018. Included below are tables reflecting the revised amounts for each of the first three quarters of 2018, and a table showing amounts originally reported for those periods and the effects of the revision.
(in millions, except per share amounts) |  |  |  |  |  |  |  |  |
2018 |  | 1st |  | 2nd |  | 3rd |  | 4th | Total
Net sales |  |  |  |  |  |  |  |  |
Machine Clothing |  | $141.8 |  | $161.8 |  | $157.6 |  | $150.7 | $611.9
Albany Engineered Composites |  | 81.8 |  | 93.6 |  | 94.3 |  | 100.9 | 370.6
Total |  | $223.6 |  | $255.4 |  | $251.9 |  | $251.6 | $982.5
Gross profit |  |  |  |  |  |  |  |  |
Machine Clothing |  | $66.3 |  | $79.1 |  | $78.7 |  | $73.3 | $297.4
Albany Engineered Composites |  | 11.5 |  | 12.6 |  | 13.7 |  | 14.7 | 52.5
Corporate expenses |  | (0.1) |  | 0.0 |  | 0.0 |  | (0.1) | (0.2)
Total |  | $77.7 |  | $91.7 |  | $92.4 |  | $87.9 | $349.7
Operating income |  |  |  |  |  |  |  |  |
Machine Clothing |  | $26.9 |  | $50.3 |  | $49.7 |  | $42.9 | $169.8
Albany Engineered Composites |  | 2.3 |  | 4.1 |  | 3.6 |  | 6.6 | 16.6
Corporate expenses |  | (12.2) |  | (12.2) |  | (12.5) |  | (12.1) | (49.0)
Total |  | $17.0 |  | $42.2 |  | $40.8 |  | $37.4 | $137.4
Net income attributable to the Company |  | $7.7 |  | $29.9 |  | $27.7 |  | $17.6 | $82.9
Basic earnings per share |  | 0.24 |  | 0.93 |  | 0.86 |  | 0.54 | 2.57
Diluted earnings per share |  | 0.24 |  | 0.93 |  | 0.86 |  | 0.54 | 2.57
Cash dividends per share |  | 0.17 |  | 0.17 |  | 0.17 |  | 0.18 | 0.69
Class A Common Stock prices: |  |  |  |  |  |  |  |  |
High |  | 67.30 |  | 65.45 |  | 81.40 |  | 78.31 |
Low |  | 60.05 |  | 58.35 |  | 60.70 |  | 58.41 |
2017 |  | 1st |  | 2nd |  | 3rd |  | 4th | Total
Net sales |  | $199.3 |  | $215.6 |  | $222.1 |  | $226.7 | $863.7
Gross profit |  | 76.0 |  | 63.2 |  | 79.6 |  | 77.5 | 296.3
Net income attributable to the Company |  | 10.8 |  | 1.1 |  | 15.3 |  | 5.9 | 33.1
Basic earnings per share |  | 0.34 |  | 0.03 |  | 0.47 |  | 0.19 | 1.03
Diluted earnings per share |  | 0.34 |  | 0.03 |  | 0.47 |  | 0.19 | 1.03
Cash dividends per share |  | 0.17 |  | 0.17 |  | 0.17 |  | 0.17 | 0.68
Class A Common Stock prices: |  |  |  |  |  |  |  |  |
High |  | 49.05 |  | 53.40 |  | 57.60 |  | 65.25 |
Low |  | 43.90 |  | 43.90 |  | 50.25 |  | 56.45 |
2016 |  | 1st |  | 2nd |  | 3rd |  | 4th | Total
Net sales |  | $172.3 |  | $203.2 |  | $191.3 |  | $213.0 | $779.8
Gross profit |  | 72.7 |  | 78.5 |  | 72.6 |  | 77.5 | 301.3
Net income attributable to the Company |  | 13.5 |  | 10.4 |  | 13.1 |  | 15.7 | 52.7
Basic earnings per share |  | 0.42 |  | 0.32 |  | 0.41 |  | 0.49 | 1.64
Diluted earnings per share |  | 0.42 |  | 0.32 |  | 0.41 |  | 0.49 | 1.64
Cash dividends per share |  | 0.17 |  | 0.17 |  | 0.17 |  | 0.17 | 0.68
Class A Common Stock prices: |  |  |  |  |  |  |  |  |
High |  | 38.21 |  | 41.31 |  | 43.78 |  | 49.25 |
Low |  | 31.43 |  | 37.27 |  | 38.92 |  | 38.65 |
|  | 1st quarter 2018 | 2nd quarter 2018
(in millions, except per share amounts) | As previously reported | Increase / (decrease) | As revised | As previously reported | Increase / (decrease) | As revised
Machine Clothing segment |  |  |  |  |  |  |
| Net sales | $148.2 | $(6.4) | $141.8 |  | $162.6 | $(0.8) | $161.8
| Gross profit | 70.2 | (3.9) | 66.3 |  | 79.6 | (0.5) | 79.1
| Operating income | 30.8 | (3.9) | 26.9 |  | 50.8 | (0.5) | 50.3
Total Company |  |  |  |  |  |  |
| Net income attributable to the Company | 10.2 | (2.5) | 7.7 |  | 30.4 | (0.5) | 29.9
| Basic earnings per share | 0.32 | (0.08) | 0.24 |  | 0.94 | (0.01) | 0.93
| Diluted earnings per share | 0.32 | (0.08) | 0.24 |  | 0.94 | 0.01) | 0.93
|  | 3rd quarter 2018 | First 3 quarters of 2018
(in millions, except per share amounts) | As previously reported | Increase / (decrease) | As revised | As previously reported | Increase / (decrease) | As revised
Machine Clothing segment |  |  |  |  |  |  |
| Net sales | $159.0 | $(1.4) | $157.6 |  | $469.8 | $(8.6) | $461.2
| Gross profit | 79.4 | (0.7) | 78.7 |  | 229.2 | (5.1) | 224.1
| Operating income | 50.3 | (0.6) | 49.7 |  | 131.9 | (5.0) | 126.9
Total Company |  |  |  |  |  |  |
| Net income attributable to the Company | 28.2 | (0.5) | 27.7 |  | 68.8 | (3.5) | 65.3
| Basic earnings per share | 0.87 | (0.01) | 0.86 |  | 2.13 | (0.11) | 2.02
| Diluted earnings per share | 0.87 | (0.01) | 0.86 |  | 2.13 | (0.11) | 2.02

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- Definition Tabular disclosure of quarterly financial data. Includes, but is not limited to, financial information for fiscal quarters, cumulative effect of a change in accounting principle and earnings per share data. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=109225645&loc=d3e1280-108306 + Details
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