XML 25 R12.htm IDEA: XBRL DOCUMENT
v3.22.4

Restructuring | 12 Months Ended
--- | ---
Dec. 31, 2022
Restructuring and Related Activities [Abstract] |
Restructuring | Restructuring Restructuring activities have decreased in the last two years. Restructuring expense, net during this period has been related primarily to the winding down of restructuring actions taken in years previous. The following table summarizes charges reported in the Consolidated Statements of Income under “Restructuring expenses, net”:
Year ended December 31, 2022 (In thousands) |  | Total restructuring costs incurred |  | Termination and other costs |  | Impairment of assets
Machine Clothing |  | $ | 92 |  |  | $ | 92 |  |  | $ | — |
Albany Engineered Composites |  | — |  |  | — |  |  | — |
Corporate expenses |  | 14 |  |  | 14 |  |  | — |
Total |  | $ | 106 |  |  | $ | 106 |  |  | $ | — |
Year ended December 31, 2021 (In thousands) |  | Total restructuring costs incurred |  | Termination and other costs |  | Impairment of assets
Machine Clothing |  | $ | 1,202 |  |  | $ | 1,202 |  |  | $ | — |
Albany Engineered Composites |  | 32 |  |  | 32 |  |  | — |
Corporate expenses |  | 97 |  |  | 97 |  |  | — |
Total |  | $ | 1,331 |  |  | $ | 1,331 |  |  | $ | — |
Year ended December 31, 2020 (In thousands) |  | Total restructuring costs incurred |  | Termination and other costs |  | Impairment of assets
Machine Clothing |  | $ | 2,746 |  |  | $ | 2,746 |  |  | $ | — |
Albany Engineered Composites |  | 2,821 |  |  | 2,821 |  |  | — |
Corporate expenses |  | 169 |  |  | 169 |  |  | — |
Total |  | $ | 5,736 |  |  | $ | 5,736 |  |  | $ | — |
In 2020, AEC reduced its workforce at various locations, principally in the United States, leading to restructuring charges, and MC recorded charges related to the discontinuance of operations in the Selestat, France location. As of December 31, 2022, there is no remaining balance in Accrued liabilities for restructuring. The table below presents the changes in restructuring liabilities for 2022 and 2021, all of which related to termination costs:
(in thousands) |  | December 31, 2021 |  | Restructuring charges accrued |  | Payments |  | Currency translation/other |  | December 31, 2022
Total termination and other costs |  | $ | 1,045 |  |  | $ | 106 |  |  | $ | (1,079) |  |  | $ | (72) |  |  | $ | — |
(in thousands) |  | December 31, 2020 |  | Restructuring charges accrued |  | Payments |  | Currency translation/other |  | December 31, 2021
Total termination and other costs |  | $ | 2,195 |  |  | $ | 1,331 |  |  | $ | (2,469) |  |  | $ | (12) |  |  | $ | 1,045 |

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

X
- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4(e)) -URI https://asc.fasb.org/extlink&oid=115931487&loc=d3e140904-122747 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -URI https://asc.fasb.org/topic&trid=2175745 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b)(2) -URI https://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 + Details
Name: | us-gaap_RestructuringAndRelatedActivitiesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration