| Schedule of Segment Reporting Information, by Segment |
The following tables show data by reportable segment that is regularly provided to the CODM, reconciled to consolidated totals included in the financial statements: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended March 31, 2025 | | (in thousands) | | MC | | AEC | | Corporate | | Total | | Net revenues | | $ | 174,697 | | | $ | 114,077 | | | $ | — | | | $ | 288,774 | | | Cost of goods sold | | $ | 94,795 | | | $ | 97,493 | | | $ | — | | | $ | 192,288 | | | Gross profit | | $ | 79,902 | | | $ | 16,584 | | | $ | — | | | $ | 96,486 | | | Selling, general and administrative expenses | | $ | 32,881 | | | $ | 10,126 | | | $ | 10,805 | | | $ | 53,812 | | | Technical and research expenses | | $ | 7,243 | | | $ | 3,674 | | | $ | 979 | | | $ | 11,896 | | | Restructuring expenses, net | | $ | 1,347 | | | $ | 1,168 | | | $ | — | | | $ | 2,515 | | | Operating income/(loss) | | $ | 38,431 | | | $ | 1,616 | | | $ | (11,784) | | | $ | 28,263 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended March 31, 2024 | | (in thousands) | | MC | | AEC | | Corporate | | Total | | Net revenues | | $ | 185,217 | | | $ | 128,113 | | | $ | — | | | $ | 313,330 | | | Cost of goods sold | | $ | 100,562 | | | $ | 104,082 | | | $ | — | | | $ | 204,644 | | | Gross profit | | $ | 84,655 | | | $ | 24,031 | | | $ | — | | | $ | 108,686 | | | Selling, general and administrative expenses | | $ | 32,767 | | | $ | 11,540 | | | $ | 10,528 | | | $ | 54,835 | | | Technical and research expenses | | $ | 7,520 | | | $ | 5,145 | | | $ | — | | | $ | 12,665 | | | Restructuring expenses, net | | $ | 21 | | | $ | 2,188 | | | $ | — | | | $ | 2,209 | | | Operating income/(loss) | | $ | 44,347 | | | $ | 5,158 | | | $ | (10,528) | | | $ | 38,977 | |
| | | | | | | | | | | | | Three months ended March 31, | (in thousands) | | | 2025 | 2024 | | Net revenues | | | | | Machine Clothing | | | $ | 174,697 | | $ | 185,217 | | | Albany Engineered Composites | | | 114,077 | | 128,113 | | | Consolidated revenues | | | $ | 288,774 | | $ | 313,330 | | | Gross profit | | | | | | Machine Clothing | | | $ | 79,902 | | $ | 84,655 | | | Albany Engineered Composites | | | 16,584 | | 24,031 | | | Consolidated gross profit | | | $ | 96,486 | | $ | 108,686 | | | Depreciation and amortization | | | | | | Machine Clothing | | | $ | 7,706 | | $ | 8,511 | | | Albany Engineered Composites | | | 13,295 | | 13,503 | | | Corporate | | | 290 | | 290 | | | Consolidated depreciation and amortization | | | $ | 21,291 | | $ | 22,304 | | | Operating income/(loss) | | | | | Machine Clothing | | | $ | 38,431 | | $ | 44,347 | | | Albany Engineered Composites | | | 1,616 | | 5,158 | | | Corporate | | | (11,784) | | (10,528) | | | Consolidated Operating income | | | $ | 28,263 | | $ | 38,977 | | Reconciling items: | | | | | | Interest income | | | (1,638) | | (1,123) | | Interest expense | | | 5,293 | | 4,442 | | | | | | | | | | | | | Other (income)/expense, net | | | 983 | | (2,982) | | | Income before income taxes | | | $ | 23,625 | | $ | 38,640 | |
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| Schedule of Operating Assets and Capital Expenditures by Reporting Segment |
The following table presents assets by reportable segment: | | | | | | | | | (in thousands) | March 31, 2025 | December 31, 2024 | | Segment assets | | | | Machine Clothing | $ | 621,691 | | $ | 600,603 | | | Albany Engineered Composites | $ | 749,287 | | $ | 736,306 | | | Reconciling items: | | | | Cash | $ | 119,354 | | $ | 115,283 | | | Income taxes prepaid, receivable and deferred | 45,761 | | 47,944 | | | Prepaid and Other assets | 151,983 | | 148,560 | | | Consolidated total assets | $ | 1,688,076 | | $ | 1,648,696 | |
The following table presents capital expenditures by reportable segment: | | | | | | | | | | Three months ended March 31, | (in thousands) | 2025 | 2024 | | Capital expenditures and purchased software | | | | Machine Clothing | $ | 6,232 | | $ | 6,357 | | | Albany Engineered Composites | 9,365 | | 20,523 | | | Corporate expenses | — | | — | | | Total capital expenditures and purchased software | $ | 15,597 | | $ | 26,880 | |
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| 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 March 31, 2025: | | | | | | | | | | | | | Three months ended March 31, 2025 | (in thousands) | Point in Time Revenue Recognition | Over Time Revenue Recognition | Total | | Machine Clothing | $ | 173,676 | | $ | 1,021 | | $ | 174,697 | | | | | | | Albany Engineered Composites: | | | | | ASC | — | | 38,920 | | 38,920 | | | Other AEC | 4,077 | | 71,080 | | 75,157 | | Total Albany Engineered Composites | 4,077 | | 110,000 | | 114,077 | | | | | | | Total revenues | $ | 177,753 | | $ | 111,021 | | $ | 288,774 | |
The following table disaggregates revenue for each product group by timing of revenue recognition for the three months ended March 31, 2024: | | | | | | | | | | | | | Three months ended March 31, 2024 | (in thousands) | Point in Time Revenue Recognition | Over Time Revenue Recognition | Total | | Machine Clothing | $ | 184,235 | | $ | 982 | | $ | 185,217 | | | | | | | Albany Engineered Composites: | | | | | ASC | — | | 49,739 | | 49,739 | | | Other AEC | 5,757 | | 72,617 | | 78,374 | | Total Albany Engineered Composites | 5,757 | | 122,356 | | 128,113 | | | | | | | Total revenues | $ | 189,992 | | $ | 123,338 | | $ | 313,330 | | | | | |
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