XML 52 R39.htm IDEA: XBRL DOCUMENT
v3.22.0.1

Income Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2021
Income Tax Disclosure [Abstract] |
Schedule of Components of Income Tax Expense (Benefit) | Provision for income taxes consisted of the following:
For the year ended December 31 |  |  |  |  |  |
(in thousands) |  | 2021 |  | 2020 |  | 2019
Income before income taxes: |  |  |  |  |  |
U.S. |  | $ | 63,708 |  |  | $ | 63,375 |  |  | $ | 76,024 |
Non-U.S. |  | 102,223 |  |  | 75,699 |  |  | 102,188 |
|  | $ | 165,931 |  |  | $ | 139,074 |  |  | $ | 178,212 |
Income tax expense/(benefit) |  |  |  |  |  |
Current: |  |  |  |  |  |
Federal |  | $ | 3,348 |  |  | $ | 1,415 |  |  | $ | 780 |
State |  | 2,663 |  |  | 2,028 |  |  | 6,357 |
Non-U.S. |  | 29,319 |  |  | 26,916 |  |  | 25,255 |
|  | $ | 35,330 |  |  | $ | 30,359 |  |  | $ | 32,392 |
Deferred: |  |  |  |  |  |
Federal |  | $ | 9,911 |  |  | $ | 11,211 |  |  | $ | 10,583 |
State |  | (24) |  |  | 192 |  |  | 253 |
Non-U.S. |  | 1,946 |  |  | 69 |  |  | 1,601 |
|  | $ | 11,833 |  |  | $ | 11,472 |  |  | $ | 12,437 |
Total income tax expense |  | $ | 47,163 |  |  | $ | 41,831 |  |  | $ | 44,829 |
Reconciliation of the U.S. Federal Statutory Tax Rate to the Company's Effective Income Tax Rate | A reconciliation of the U.S. federal statutory tax rate to the Company’s effective income tax rate is as follows:
For the year ended December 31 | 2021 |  | 2020 |  | 2019 |
U.S. federal statutory tax rate | 21.0 | % |  | 21.0 | % |  | 21.0 | % |
State taxes, net of federal benefit | 1.8 |  |  | 1.8 |  |  | 3.0 |  |
Non-U.S. local income taxes | 2.5 |  |  | 3.2 |  |  | 4.4 |  |
U.S. permanent adjustments | 1.1 |  |  | 0.1 |  |  | — |  |
Foreign rate differential | 1.2 |  |  | 0.6 |  |  | 0.5 |  |
Net U.S. tax on non-U.S. earnings and foreign withholdings | 2.1 |  |  | 1.2 |  |  | 0.3 |  |
Provision for/(resolution) of tax audits and contingencies, net | 0.1 |  |  | 0.5 |  |  | (1.6) |  |
Tax effect of non-deductible foreign exchange loss on intercompany loan | — |  |  | 2.7 |  |  | — |  |
Impact of amended tax returns | (1.3) |  |  | — |  |  | — |  |
Return to provision and other adjustments | (0.1) |  |  | (1.0) |  |  | (2.4) |  |
Effective income tax rate | 28.4 | % |  | 30.1 | % |  | 25.2 | % |
Schedule of Deferred Tax Assets and Liabilities | Significant components of the Company’s deferred tax assets and liabilities are as follows:
For the year ended December 31 |  | U.S. |  | Non-U.S.
(in thousands) |  | 2021 |  | 2020 |  | 2021 |  | 2020
Deferred tax assets: |  |  |  |  |  |  |  |
Accounts receivable, net |  | $ | 428 |  |  | $ | 672 |  |  | $ | 1,378 |  |  | $ | 1,453 |
Inventories |  | 1,450 |  |  | 762 |  |  | 1,752 |  |  | 1,995 |
Incentive compensation |  | 4,580 |  |  | 4,490 |  |  | 1,084 |  |  | 1,064 |
Property, plant, equipment and intangibles, net |  | — |  |  | — |  |  | 4,339 |  |  | 2,382 |
Pension, post retirement benefits - non-current |  | 12,912 |  |  | 12,498 |  |  | — |  |  | 82 |
Tax loss carryforwards |  | 217 |  |  | 517 |  |  | 19,821 |  |  | 24,509 |
Tax credit carryforwards |  | 4,643 |  |  | 9,236 |  |  | — |  |  | 954 |
Derivatives |  | 468 |  |  | 3,283 |  |  | — |  |  | — |
Reserves |  | 991 |  |  | 2,704 |  |  | — |  |  | — |
Deferred revenue |  | 239 |  |  | 1,471 |  |  | — |  |  | — |
Other |  | — |  |  | — |  |  | 1,791 |  |  | 638 |
Deferred tax assets before valuation allowance |  | 25,928 |  |  | 35,633 |  |  | 30,165 |  |  | 33,077 |
Less: valuation allowance |  | (9) |  |  | (9) |  |  | (10,650) |  |  | (10,261) |
Total deferred tax assets |  | $ | 25,919 |  |  | $ | 35,624 |  |  | $ | 19,515 |  |  | $ | 22,816 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Unrepatriated foreign earnings |  | $ | 6,308 |  |  | $ | 3,779 |  |  | $ | — |  |  | $ | — |
Property, plant, equipment and intangibles, net |  | 5,356 |  |  | 3,122 |  |  | — |  |  | — |
Basis difference in partner capital |  | 2,466 |  |  | 2,911 |  |  | — |  |  | — |
Basis difference in investment |  | 3,985 |  |  | 6,881 |  |  | — |  |  | — |
Deferred revenue |  | — |  |  | — |  |  | 10,829 |  |  | 11,989 |
Other |  | 963 |  |  | 519 |  |  | 602 |  |  | — |
Total deferred tax liabilities |  | $ | 19,078 |  |  | $ | 17,212 |  |  | $ | 11,431 |  |  | $ | 11,989 |
Net deferred tax asset |  | $ | 6,841 |  |  | $ | 18,412 |  |  | $ | 8,084 |  |  | $ | 10,827 |
Summary Of Operating And Capital Loss And Tax Credit Carryforwards | As of December 31, 2021, the Company's net operating loss, capital loss and tax credit carryforwards were as follows:
(in thousands) |  | Expiration Period |  | Net Operating and Capital Loss Carryforwards |  | Tax Credit Carryforwards
Jurisdiction |  |  |
U.S. Federal |  | 2025 - 2040 |  | $ | — |  |  | $ | 4,802 |
U.S. State |  | 2027 - 2035 |  | 3,471 |  |  | 400 |
U.S. State |  | Indefinite |  | 52 |  |  | — |
Non-U.S. |  | 2025 - 2030 |  | 22,383 |  |  | — |
Non-U.S. |  | Indefinite |  | 43,154 |  |  | — |
Balance at end of year |  |  |  | $ | 69,060 |  |  | $ | 5,202 |
Schedule of Unrecognized Tax Benefits | The following table provides a reconciliation of the beginning and ending amount of unrecognized tax benefits. If recognized, $1.5 million would impact the effective tax rate at December 31, 2021:
(in thousands) |  | 2021 |  | 2020 |  | 2019
Unrecognized tax benefits balance at January 1, |  | $ | 5,491 |  |  | $ | 5,834 |  |  | $ | 3,790 |
Increase in gross amounts of tax positions related to prior years |  | 278 |  |  | 540 |  |  | 4,874 |
Decrease in gross amounts of tax positions related to prior years |  | (4,236) |  |  | (637) |  |  | (2,239) |
Increase in gross amounts of tax positions related to current years |  | — |  |  | — |  |  | — |
Decrease due to settlements with tax authorities |  | — |  |  | — |  |  | — |
Decrease due to lapse in statute of limitations |  | (39) |  |  | (300) |  |  | (626) |
Currency translation |  | (35) |  |  | 54 |  |  | 35 |
Unrecognized tax benefits balance at December 31, |  | $ | 1,459 |  |  | $ | 5,491 |  |  | $ | 5,834 |

X
- Definition Summary Of Operating And Capital Loss And Tax Credit Carryforwards + References No definition available. + Details
Name: | ain_SummaryOfOperatingAndCapitalLossAndTaxCreditCarryforwardsTableTextBlock
Namespace Prefix: | ain_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32639-109319 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32687-109319 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the change in unrecognized tax benefits. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 55 -Paragraph 217 -URI http://asc.fasb.org/extlink&oid=124434304&loc=d3e36027-109320 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15A -URI http://asc.fasb.org/extlink&oid=121826272&loc=SL6600010-109319 + Details
Name: | us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration