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Reportable Segments and Geographic Data (Tables) | 12 Months Ended
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Dec. 31, 2019
Segment Reporting [Abstract] |
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 | 65 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

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=108376223&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8721-108599 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8906-108599 + Details
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