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Reportable Segments and Revenue Recognition (Tables) | 9 Months Ended
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Sep. 30, 2022
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information, by Segment | The following tables show data by reportable segment, reconciled to consolidated totals included in the financial statements:
| Three months ended September 30, | Nine months ended September 30,
(in thousands) | 2022 | 2021 | 2022 | 2021
Net sales |  |  |  |
Machine Clothing | $ | 153,389 |  | $ | 154,171 |  | $ | 459,121 |  | $ | 462,298 |
Albany Engineered Composites | 107,174 |  | 78,271 |  | 306,980 |  | 227,024 |
Consolidated total | $ | 260,563 |  | $ | 232,442 |  | $ | 766,101 |  | $ | 689,322 |
Operating income/(loss) |  |  |  |
Machine Clothing | $ | 57,247 |  | $ | 55,467 |  | $ | 161,752 |  | $ | 161,731 |
Albany Engineered Composites | 9,958 |  | 2,917 |  | 20,688 |  | 13,019 |
Corporate expenses | (13,561) |  | (13,898) |  | (39,327) |  | (38,479) |
Operating income | $ | 53,644 |  | $ | 44,486 |  | $ | 143,113 |  | $ | 136,271 |
Reconciling items: |  |  |  |
Interest income | (965) |  | (654) |  | (2,463) |  | (1,584) |
Interest expense | 4,759 |  | 4,388 |  | 13,799 |  | 13,105 |
Pension settlement expense | 49,128 |  | — |  | 49,128 |  | — |
AMJP grant | — |  | (5,832) |  | — |  | (5,832) |
Other (income)/expense, net | (6,918) |  | 2,753 |  | (17,891) |  | 4,215 |
Income before income taxes | $ | 7,640 |  | $ | 43,831 |  | $ | 100,540 |  | $ | 126,367 |
Schedule of Disaggregation of Revenue For Each Product Group by Timing of Revenue Recognition | The following table disaggregates revenue for each product group by timing of revenue recognition:
| Three months ended September 30, 2022
(in thousands) | Point in Time Revenue Recognition | Over Time Revenue Recognition | Total
Machine Clothing | $ | 152,490 |  | $ | 899 |  | $ | 153,389 |
Albany Engineered Composites |  |  |
ASC | — |  | 41,463 |  | 41,463 |
Other AEC | 5,819 |  | 59,892 |  | 65,711 |
Total Albany Engineered Composites | 5,819 |  | 101,355 |  | 107,174 |
Total revenue | $ | 158,309 |  | $ | 102,254 |  | $ | 260,563 |
| Three months ended September 30, 2021
(in thousands) | Point in Time Revenue Recognition | Over Time Revenue Recognition | Total
Machine Clothing | $ | 153,306 |  | $ | 865 |  | $ | 154,171 |
Albany Engineered Composites |  |  |
ASC | — |  | 26,904 |  | 26,904 |
Other AEC | 3,589 |  | 47,778 |  | 51,367 |
Total Albany Engineered Composites | 3,589 |  | 74,682 |  | 78,271 |
Total revenue | $ | 156,895 |  | $ | 75,547 |  | $ | 232,442 |
| Nine months ended September 30, 2022
(in thousands) | Point in Time Revenue Recognition | Over Time Revenue Recognition | Total
Machine Clothing | $ | 456,423 |  | $ | 2,698 |  | $ | 459,121 |
Albany Engineered Composites |  |  |
ASC | — |  | 122,836 |  | 122,836 |
Other AEC | 14,750 |  | 169,394 |  | 184,144 |
Total Albany Engineered Composites | 14,750 |  | 292,230 |  | 306,980 |
Total revenue | $ | 471,173 |  | $ | 294,928 |  | $ | 766,101 |
| Nine months ended September 30, 2021
(in thousands) | Point in Time Revenue Recognition | Over Time Revenue Recognition | Total
Machine Clothing | $ | 459,703 |  | $ | 2,595 |  | $ | 462,298 |
Albany Engineered Composites |  |  |
ASC | — |  | 80,158 |  | 80,158 |
Other AEC | 11,901 |  | 134,965 |  | 146,866 |
Total Albany Engineered Composites | 11,901 |  | 215,123 |  | 227,024 |
Total revenue | $ | 471,604 |  | $ | 217,718 |  | $ | 689,322 |
Schedule of Disaggregate MC Segment Revenue by Significant Product or Service | The following table disaggregates MC segment revenue by significant product groupings (paper machine clothing (PMC) and engineered fabrics), and, for PMC, the geographical region to which the paper machine clothing was sold:
| Three months ended September 30, | Nine months ended September 30,
(in thousands) | 2022 | 2021 | 2022 | 2021
Americas PMC | $ | 83,124 |  | $ | 81,780 |  | $ | 240,173 |  | $ | 237,425 |
Eurasia PMC | 49,828 |  | 53,277 |  | 157,751 |  | 164,320 |
Engineered Fabrics | 20,437 |  | 19,114 |  | 61,197 |  | 60,553 |
Total Machine Clothing Net sales | $ | 153,389 |  | $ | 154,171 |  | $ | 459,121 |  | $ | 462,298 |

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