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Revenue Recognition | 6 Months Ended
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Jun. 30, 2025
Revenue from Contract with Customer [Abstract] |
Revenue Recognition | Revenue Recognition: Products and services provided under long-term contracts represent a significant portion of revenues in the Albany Engineered Composites segment and we account for these contracts over time, primarily using the percentage of completion (actual cost to estimated cost) method. That method requires significant judgment and estimation, which could be materially different if the underlying circumstances were to change. When adjustments in estimated contract revenues or costs are required, any changes from prior estimates are included in earnings in the period the change occurs. Changes in the estimated profitability of long-term contracts could be caused by increases or decreases in the contract value, revisions to customer delivery requirements, updated labor or overhead rates, material costs, factors affecting the supply chain, changes in the evaluation of contract risks and opportunities, or other factors. The cumulative changes in the estimated profitability of long-term contracts decreased operating income by $7.2 million during the second quarter of 2025 and $14.2 million for the first six months of 2025. The negative cumulative change in profitability during the second quarter of 2025 was primarily driven by a few large complex programs, including $8.1 million for various CH-53K programs, $0.8 million on our F-35 program, offset by a gain of $1.6 million on our Gulfstream program and a $0.1 million, net gain on all other programs. The negative cumulative change in profitability during the six months ended June 2025 was driven by $10.1 million for various CH-53K programs, $2.1 million on our F-35 program, and $2.0 million, net on all other programs. Adjustments in the estimated profitability of long-term contracts decreased operating income by $5.0 million during the second quarter of 2024 and $7.6 million for the first six months of 2024. We disaggregate revenue earned from contracts with customers for each of our business segments and product groups based on the timing of revenue recognition, and groupings used for internal review purposes. The following table disaggregates revenue for each product group by timing of revenue recognition for the three months ended June 30, 2025:
| Three months ended June 30, 2025
(in thousands) | Point in Time Revenue Recognition | Over Time Revenue Recognition | Total
Machine Clothing | $ | 179,904 |  | $ | 1,022 |  | $ | 180,926 |
Albany Engineered Composites: |  |  |
ASC | — |  | 44,846 |  | 44,846 |
Other AEC | 3,060 |  | 82,567 |  | 85,627 |
Total Albany Engineered Composites | $ | 3,060 |  | $ | 127,413 |  | $ | 130,473 |
Total revenues | $ | 182,964 |  | $ | 128,435 |  | $ | 311,399 |
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 six months ended June 30, 2025
| Six months ended June 30, 2025
(in thousands) | Point in Time Revenue Recognition | Over Time Revenue Recognition | Total
Machine Clothing | $ | 353,580 |  | $ | 2,043 |  | $ | 355,623 |
Albany Engineered Composites: |  |  |
ASC | — |  | 83,766 |  | 83,766 |
Other AEC | 7,137 |  | 153,647 |  | 160,784 |
Total Albany Engineered Composites | 7,137 |  | 237,413 |  | 244,550 |
Total revenues | $ | 360,717 |  | $ | 239,456 |  | $ | 600,173 |
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 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) | 2025 | 2024 | 2025 | 2024
Americas PMC | $ | 87,488 |  | $ | 88,533 |  | $ | 170,334 |  | $ | 172,034 |
Eurasia PMC | 71,161 |  | 78,519 |  | 139,358 |  | 154,709 |
Engineered Fabrics | 22,277 |  | 26,526 |  | 45,931 |  | 52,052 |
Total Machine Clothing Net revenues | $ | 180,926 |  | $ | 193,578 |  | $ | 355,623 |  | $ | 378,795 |
We do not disclose the value of unsatisfied performance obligations for contracts with an original expected duration of one year or less. Contracts in the MC segment are generally for periods of less than a year and certain contracts in the AEC segment are relatively short duration firm-fixed-price orders. Remaining performance obligations on contracts that had an original duration of greater than one year totaled $1.0 billion and $1.1 billion as of June 30, 2025 and 2024, respectively, and related primarily to firm fixed price contracts in the AEC segment. Of the remaining performance obligations as of June 30, 2025, we expect to recognize as revenue approximately $84.6 million during 2025, $153.7 million during 2026, $142.1 million during 2027, and the remainder thereafter.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-7 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
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