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Shareholders' Equity (Tables) | 12 Months Ended
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Dec. 31, 2021
Stockholders' Equity Note [Abstract] |
Schedule of Stockholders Equity | Activity in Shareholders’ equity for 2019, 2020, and 2021 is presented below:
(in thousands) | Class A Common Stock |  | Class B Common Stock |  | Additional paid-in capital |  | Retained earnings |  | Accumulated items of other comprehensive income |  | Class A Treasury Stock |  | Noncontrolling Interest |  | Total Equity
| Shares |  | Amount | Shares |  | Amount | Shares |  | Amount
January 1, 2019 | 37,450 |  |  | $ | 37 |  |  | 3,234 |  |  | $ | 3 |  |  | $ | 430,555 |  |  | $ | 589,645 |  |  | $ | (158,388) |  |  | 8,419 |  |  | $ | (256,603) |  |  | $ | 3,031 |  |  | $ | 608,280 |
Net income attributable to the Company | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 132,398 |  |  | — |  |  | — |  |  | — |  |  | 985 |  |  | 133,383 |
Adoption of accounting standards (a) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 35 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 35 |
Compensation and benefits paid or payable in shares | 26 |  |  | — |  |  | — |  |  | — |  |  | 1,311 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,311 |
Options exercised | 7 |  |  | — |  |  | — |  |  | — |  |  | 112 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 112 |
Shares issued to Directors' | — |  |  | — |  |  | — |  |  | — |  |  | 540 |  |  | — |  |  | — |  |  | (10) |  |  | 212 |  |  | — |  |  | 752 |
Dividends declared |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Class A Common Stock, $0.73 per share | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (21,818) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (21,818) |
Class B Common Stock, $0.73 per share | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (1,763) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (1,763) |
Conversion of Class B shares to Class A shares (b) | 1,616 |  |  | 2 |  |  | (1,616) |  |  | (1) |  |  | — |  |  | (1) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Cumulative translation adjustments | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (6,876) |  |  | — |  |  | — |  |  | (10) |  |  | (6,886) |
Pension and postretirement liability adjustments | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (2,885) |  |  | — |  |  | — |  |  | — |  |  | (2,885) |
Derivative valuation adjustment | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (7,832) |  |  | — |  |  | — |  |  | — |  |  | (7,832) |
December 31, 2019 | 39,099 |  |  | $ | 39 |  |  | 1,618 |  |  | $ | 2 |  |  | $ | 432,518 |  |  | $ | 698,496 |  |  | $ | (175,981) |  |  | 8,409 |  |  | $ | (256,391) |  |  | $ | 4,006 |  |  | $ | 702,689 |
Net income attributable to the Company | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 98,589 |  |  | — |  |  | — |  |  | — |  |  | (1,346) |  |  | 97,243 |
Adoption of accounting standards (c) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (1,443) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (1,443) |
Compensation and benefits paid or payable in shares | 13 |  |  | — |  |  | — |  |  | — |  |  | 622 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 622 |
Options exercised | 3 |  |  | — |  |  | — |  |  | — |  |  | 55 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 55 |
Shares issued to Directors' | — |  |  | — |  |  | — |  |  | — |  |  | 501 |  |  | — |  |  | — |  |  | (18) |  |  | 382 |  |  | — |  |  | 883 |
Dividends declared |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Class A Common Stock, $0.77 per share | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (23,651) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (23,651) |
Class B Common Stock, $0.77 per share | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (1,245) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (1,245) |
Cumulative translation adjustments | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 39,649 |  |  | — |  |  | — |  |  | 1,139 |  |  | 40,788 |
Pension and postretirement liability adjustments | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 10,333 |  |  | — |  |  | — |  |  | — |  |  | 10,333 |
Derivative valuation adjustment | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (6,409) |  |  | — |  |  | — |  |  | — |  |  | (6,409) |
December 31, 2020 | 39,115 |  |  | $ | 39 |  |  | 1,618 |  |  | $ | 2 |  |  | $ | 433,696 |  |  | $ | 770,746 |  |  | $ | (132,408) |  |  | 8,391 |  |  | $ | (256,009) |  |  | $ | 3,799 |  |  | $ | 819,865 |
Net income attributable to the Company | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 118,478 |  |  | — |  |  | — |  |  | — |  |  | 290 |  |  | 118,768 |
Compensation and benefits paid or payable in shares | 20 |  |  | — |  |  | — |  |  | — |  |  | 2,441 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 2,441 |
Options exercised | 7 |  |  | — |  |  | — |  |  | — |  |  | 153 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 153 |
Shares issued to Directors' | — |  |  | — |  |  | — |  |  | — |  |  | 706 |  |  | — |  |  | — |  |  | (11) |  |  | 241 |  |  | — |  |  | 947 |
Purchase of Treasury shares (d) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 285 |  |  | (24,375) |  |  | — |  |  | (24,375) |
Dividends declared |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Class A Common Stock, $0.81 per share | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (25,520) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (25,520) |
Class B Common Stock, $0.81 per share | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (647) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (647) |
Conversion of Class B shares to Class A shares (e) | 1,618 |  |  | 2 |  |  | (1,618) |  |  | (2) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Cumulative translation adjustments | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (22,677) |  |  | — |  |  | — |  |  | (451) |  |  | (23,128) |
Pension and postretirement liability adjustments | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,171 |  |  | — |  |  | — |  |  | — |  |  | 1,171 |
Derivative valuation adjustment | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 7,930 |  |  | — |  |  | — |  |  | — |  |  | 7,930 |
December 31, 2021 | 40,760 |  |  | $ | 41 |  |  | — |  |  | $ | — |  |  | $ | 436,996 |  |  | $ | 863,057 |  |  | $ | (145,984) |  |  | 8,665 |  |  | $ | (280,143) |  |  | $ | 3,638 |  |  | $ | 877,605 |
(a)As described in Note 20, the Company adopted ASC 842, Leases effective January 1, 2019, which resulted in an increase to Retained earnings of less than $0.1 million. (b)In the second quarter of 2019, Standish Family Holdings, LLC executed a secondary offering of Albany shares. As a result of the offering, 1.6 million shares of Class B Common Stock previously owned by Standish Family Holdings, LLC were converted to Class A Common Stock and then sold to third parties. Costs associated with the offering were charged directly to Standish Family Holdings, LLC. (c)As described in Note 1, the Company adopted the provisions of ASC 326, Current expected credit losses (CECL) effective January 1, 2020, which resulted in a decrease to Retained earnings of $1.4 million. (d)On October 25, 2021, the Company's Board of Directors authorized the Company to repurchase shares of up to $200 million through open market purchases, privately negotiated transactions or otherwise, and to determine the prices, times and amounts. In 2021, the Company repurchased 285,286 shares totaling $24.4 million. (e)In the third and fourth quarters of 2021, Standish Family Holdings, LLC executed a secondary offering of Albany shares. As a result of the offerings, 1.6 million shares of Class B Common Stock previously owned by Standish Family Holdings, LLC were converted to Class A Common Stock and then sold to third parties. Costs associated with the offering were charged directly to Standish Family Holdings, LLC.

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- Definition Tabular disclosure of changes in the separate accounts comprising stockholders' equity (in addition to retained earnings) and of the changes in the number of shares of equity securities during at least the most recent annual fiscal period and any subsequent interim period presented is required to make the financial statements sufficiently informative if both financial position and results of operations are presented. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21463-112644 + Details
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