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Reportable Segments and Revenue Recognition (Tables)

6 Months Ended

Jun. 30, 2024

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 June 30,						Six months ended June 30,
(in thousands)			2024			2023			2024			2023
Net revenues
Machine Clothing			$	193,578		$	159,217		$	378,795		$	312,439
Albany Engineered Composites			138,416			114,906			266,529			230,780
Consolidated revenues			$	331,994		$	274,123		$	645,324		$	543,219
Operating income/(loss)
Machine Clothing			$	53,685		$	53,726		$	101,795		$	102,690
Albany Engineered Composites			9,434			8,668			18,622			18,086
Corporate expenses			(20,214)			(16,893)			(38,535)			(34,733)
Consolidated Operating income			$	42,905		$	45,501		$	81,882		$	86,043
Reconciling items:
Interest income			(959)			(1,838)			(2,082)			(2,944)
Interest expense			3,909			4,944			8,351			9,340
Other (income)/expense, net			5,657			(4,511)			2,675			(4,966)
Income before income taxes			$	34,298		$	46,906		$	72,938		$	84,613

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 for the three months ended June 30, 2024:

			Three months ended June 30, 2024
(in thousands)			Point in Time Revenue Recognition			Over Time Revenue Recognition			Total
Machine Clothing			$	192,596		$	982		$	193,578
Albany Engineered Composites:
ASC			—			50,292			50,292
Other AEC			6,008			82,116			88,124
Total Albany Engineered Composites			6,008			132,408			138,416
Total revenues			$	198,604		$	133,390		$	331,994

The following table disaggregates revenue for each product group by timing of revenue recognition for the three months ended June 30, 2023:

			Three months ended June 30, 2023
(in thousands)			Point in Time Revenue Recognition			Over Time Revenue Recognition			Total
Machine Clothing			$	158,273		$	944		$	159,217
Albany Engineered Composites:
ASC			—			47,417			47,417
Other AEC			3,511			63,978			67,489
Total Albany Engineered Composites			3,511			111,395			114,906
Total revenues			$	161,784		$	112,339		$	274,123

The following table disaggregates revenue for each product group by timing of revenue recognition for the six months ended June 30, 2024:

			Six months ended June 30, 2024
(in thousands)			Point in Time Revenue Recognition			Over Time Revenue Recognition			Total
Machine Clothing			$	376,831		$	1,964		$	378,795
Albany Engineered Composites:
ASC			—			100,031			100,031
Other AEC			11,766			154,732			166,498
Total Albany Engineered Composites			11,766			254,763			266,529
Total revenues			$	388,597		$	256,727		$	645,324

The following table disaggregates revenue for each product group by timing of revenue recognition for the six months ended June 30, 2023:

			Six months ended June 30, 2023
(in thousands)			Point in Time Revenue Recognition			Over Time Revenue Recognition			Total
Machine Clothing			$	310,551		$	1,888		$	312,439
Albany Engineered Composites:
ASC			—			91,949			91,949
Other AEC			9,304			129,527			138,831
Total Albany Engineered Composites			9,304			221,476			230,780
Total revenues			$	319,855		$	223,364		$	543,219

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 June 30,						Six months ended June 30,
(in thousands)			2024			2023			2024			2023
Americas PMC			$	88,533		$	94,154		$	172,034		$	177,532
Eurasia PMC			78,519			48,541			154,709			100,278
Engineered Fabrics			26,526			16,522			52,052			34,629
Total Machine Clothing Net revenues			$	193,578		$	159,217		$	378,795		$	312,439

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- Definition

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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.

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