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10-Q Filing

ALBANY INTERNATIONAL CORP /DE/ CIK: 819793 Q1 2017
Filing Information
Form Type 10-Q
Accession Number 0000891092-17-003766
Period End Date 20170331
Filing Date 20170505
Fiscal Year 2017
Fiscal Period Q1
XBRL Instance ain-20170331.xml
Filing Contents
Balance Sheet 76 line items
Line Item Tag Value Unit Period
Preferred Stock, par value per share PreferredStockParOrStatedValuePerShare $5.00 USD Point-in-time
Preferred Stock, par value per share PreferredStockParOrStatedValuePerShare $5.00 USD Point-in-time
Preferred Stock, shares authorized PreferredStockSharesAuthorized 2.00M shares Point-in-time
Preferred Stock, shares authorized PreferredStockSharesAuthorized 2.00M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $185.11M USD Point-in-time
Preferred Stock, shares issued PreferredStockSharesIssued 0.00 shares Point-in-time
Preferred Stock, shares issued PreferredStockSharesIssued 0.00 shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $143.33M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $169.62M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $181.74M USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $174.34M USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $171.19M USD Point-in-time
Inventories InventoryNet $150.48M USD Point-in-time
Inventories InventoryNet $133.91M USD Point-in-time
Income taxes prepaid and receivable DeferredIncomeTaxesAndOtherTaxReceivableCurrent $5.22M USD Point-in-time
Income taxes prepaid and receivable DeferredIncomeTaxesAndOtherTaxReceivableCurrent $5.21M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $9.25M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $11.24M USD Point-in-time
Total current assets AssetsCurrent $501.31M USD Point-in-time
Total current assets AssetsCurrent $484.62M USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $432.46M USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $422.56M USD Point-in-time
Intangibles, net IntangibleAssetsNetExcludingGoodwill $64.69M USD Point-in-time
Intangibles, net IntangibleAssetsNetExcludingGoodwill $66.45M USD Point-in-time
Goodwill Goodwill $161.09M USD Point-in-time
Goodwill Goodwill $160.38M USD Point-in-time
Income taxes receivable and deferred DeferredIncomeTaxesAndOtherTaxReceivableNoncurrent $69.50M USD Point-in-time
Income taxes receivable and deferred DeferredIncomeTaxesAndOtherTaxReceivableNoncurrent $68.86M USD Point-in-time
Contract receivables ContractReceivablesNonCurrent $14.04M USD Point-in-time
Contract receivables ContractReceivablesNonCurrent $17.96M USD Point-in-time
Other assets OtherAssetsNoncurrent $29.82M USD Point-in-time
Other assets OtherAssetsNoncurrent $31.80M USD Point-in-time
Total assets Assets $1.26B USD Point-in-time
Total assets Assets $1.26B USD Point-in-time
Notes and loans payable NotesAndLoansPayableCurrent $274.00K USD Point-in-time
Notes and loans payable NotesAndLoansPayableCurrent $312.00K USD Point-in-time
Accounts payable AccountsPayableCurrent $43.30M USD Point-in-time
Accounts payable AccountsPayableCurrent $43.76M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $95.19M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $85.15M USD Point-in-time
Current maturities of long-term debt LongTermDebtCurrent $51.67M USD Point-in-time
Current maturities of long-term debt LongTermDebtCurrent $51.70M USD Point-in-time
Income taxes payable IncomeTaxesPayableAndDeferred $9.53M USD Point-in-time
Income taxes payable IncomeTaxesPayableAndDeferred $7.20M USD Point-in-time
Total current liabilities LiabilitiesCurrent $188.08M USD Point-in-time
Total current liabilities LiabilitiesCurrent $200.01M USD Point-in-time
Long-term debt LongTermDebtNoncurrent $432.92M USD Point-in-time
Long-term debt LongTermDebtNoncurrent $428.48M USD Point-in-time
Other noncurrent liabilities OtherLiabilitiesNoncurrent $104.26M USD Point-in-time
Other noncurrent liabilities OtherLiabilitiesNoncurrent $106.83M USD Point-in-time
Deferred taxes and other liabilities DeferredIncomeTaxesAndOtherLiabilitiesNoncurrent $12.39M USD Point-in-time
Deferred taxes and other liabilities DeferredIncomeTaxesAndOtherLiabilitiesNoncurrent $12.71M USD Point-in-time
Total liabilities Liabilities $752.14M USD Point-in-time
Total liabilities Liabilities $733.53M USD Point-in-time
Preferred stock, par value $5.00 per share; authorized 2,000,000 shares; none issued PreferredStockValueOutstanding - USD Point-in-time
Preferred stock, par value $5.00 per share; authorized 2,000,000 shares; none issued PreferredStockValueOutstanding - USD Point-in-time
Additional paid in capital AdditionalPaidInCapital $427.02M USD Point-in-time
Additional paid in capital AdditionalPaidInCapital $425.95M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $528.23M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $522.86M USD Point-in-time
Translation adjustments AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax $-123.17M USD Point-in-time
Translation adjustments AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax $-133.30M USD Point-in-time
Pension and postretirement liability adjustments AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax $51.75M USD Point-in-time
Pension and postretirement liability adjustments AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax $51.72M USD Point-in-time
Derivative valuation adjustment AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax $1.46M USD Point-in-time
Derivative valuation adjustment AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax $828.00K USD Point-in-time
Treasury stock (Class A), at cost 8,445,342 shares in 2016 and 8,455,293 shares in 2015 and 2016 TreasuryStockValue $257.14M USD Point-in-time
Treasury stock (Class A), at cost 8,445,342 shares in 2016 and 8,455,293 shares in 2015 and 2016 TreasuryStockValue $257.14M USD Point-in-time
Total Company shareholders' equity StockholdersEquity $507.52M USD Point-in-time
Total Company shareholders' equity StockholdersEquity $524.69M USD Point-in-time
Noncontrolling interest MinorityInterest $3.77M USD Point-in-time
Noncontrolling interest MinorityInterest $3.91M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $528.59M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $511.29M USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $1.26B USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $1.26B USD Point-in-time
Income Statement 38 line items
Line Item Tag Value Unit Period
Net sales Revenues $199.28M USD 1 Quarter
Net sales Revenues $172.33M USD 1 Quarter
Cost of goods sold CostOfGoodsSold $99.83M USD 1 Quarter
Cost of goods sold CostOfGoodsSold $123.37M USD 1 Quarter
Gross profit GrossProfit $72.50M USD 1 Quarter
Gross profit GrossProfit $75.91M USD 1 Quarter
Selling, general, and administrative expenses SellingGeneralAndAdministrativeExpense $39.42M USD 1 Quarter
Selling, general, and administrative expenses SellingGeneralAndAdministrativeExpense $40.91M USD 1 Quarter
Technical and research expenses TechnicalProductEngineeringAndResearchExpenses $10.26M USD 1 Quarter
Technical and research expenses TechnicalProductEngineeringAndResearchExpenses $10.13M USD 1 Quarter
Restructuring expenses, net RestructuringCharges $679.00K USD 1 Quarter
Restructuring expenses, net RestructuringCharges $2.68M USD 1 Quarter
Operating income OperatingIncomeLoss $22.06M USD 1 Quarter
Operating income OperatingIncomeLoss $22.27M USD 1 Quarter
Interest expense, net InterestExpense $2.24M USD 1 Quarter
Interest expense, net InterestExpense $4.33M USD 1 Quarter
Other expense/(income), net OtherNonoperatingIncomeExpense $328.00K USD 1 Quarter
Other expense/(income), net OtherNonoperatingIncomeExpense $-204.00K USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $17.52M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $20.36M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $7.04M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $6.55M USD 1 Quarter
Net income ProfitLoss $13.32M USD 1 Quarter
Net income ProfitLoss $10.97M USD 1 Quarter
Net income/(loss) attributable to the noncontrolling interest NetIncomeLossAttributableToNoncontrollingInterest $-185.00K USD 1 Quarter
Net income/(loss) attributable to the noncontrolling interest NetIncomeLossAttributableToNoncontrollingInterest $135.00K USD 1 Quarter
Net income attributable to the Company NetIncomeLoss $13.50M USD 1 Quarter
Net income attributable to the Company NetIncomeLoss $10.84M USD 1 Quarter
Earnings per share attributable to Company shareholders - Basic EarningsPerShareBasic $0.42 USD 1 Quarter
Earnings per share attributable to Company shareholders - Basic EarningsPerShareBasic $0.34 USD 1 Quarter
Earnings per share attributable to Company shareholders - Diluted EarningsPerShareDiluted $0.42 USD 1 Quarter
Earnings per share attributable to Company shareholders - Diluted EarningsPerShareDiluted $0.34 USD 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 32.04M shares 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 32.13M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 32.16M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 32.08M shares 1 Quarter
Dividends declared per share, Class A and Class B CommonStockDividendsPerShareDeclared $0.17 USD 1 Quarter
Dividends declared per share, Class A and Class B CommonStockDividendsPerShareDeclared $0.17 USD 1 Quarter
Cash Flow Statement 68 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $13.32M USD 1 Quarter
Net income ProfitLoss $10.97M USD 1 Quarter
Depreciation Depreciation $14.64M USD 1 Quarter
Depreciation Depreciation $13.12M USD 1 Quarter
Amortization AdjustmentForAmortization $1.70M USD 1 Quarter
Amortization AdjustmentForAmortization $2.65M USD 1 Quarter
Change in other noncurrent liabilities ProvisionForNoncurrentLiabilities $-1.60M USD 1 Quarter
Change in other noncurrent liabilities ProvisionForNoncurrentLiabilities $-1.36M USD 1 Quarter
Change in deferred taxes and other liabilities ProvisionForDeferredIncomeTaxesOtherCreditsAndLongtermLiabilities $-612.00K USD 1 Quarter
Change in deferred taxes and other liabilities ProvisionForDeferredIncomeTaxesOtherCreditsAndLongtermLiabilities $2.53M USD 1 Quarter
Provision for write-off of property, plant and equipment ImpairmentOfLongLivedAssetsHeldForUse $592.00K USD 1 Quarter
Provision for write-off of property, plant and equipment ImpairmentOfLongLivedAssetsHeldForUse $296.00K USD 1 Quarter
Non-cash interest expense OtherNoncashExpense - USD 1 Quarter
Non-cash interest expense OtherNoncashExpense $211.00K USD 1 Quarter
Compensation and benefits paid or payable in Class A Common Stock RestrictedStockExpense $864.00K USD 1 Quarter
Compensation and benefits paid or payable in Class A Common Stock RestrictedStockExpense $989.00K USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $902.00K USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $741.00K USD 1 Quarter
Inventories IncreaseDecreaseInInventories $14.92M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $1.35M USD 1 Quarter
Prepaid expenses and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $1.92M USD 1 Quarter
Prepaid expenses and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $5.38M USD 1 Quarter
Income taxes prepaid and receivable IncreaseDecreaseInIncomeTaxesReceivable $1.90M USD 1 Quarter
Income taxes prepaid and receivable IncreaseDecreaseInIncomeTaxesReceivable - USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $1.63M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $3.52M USD 1 Quarter
Accrued liabilities IncreaseDecreaseInAccruedLiabilities $-10.97M USD 1 Quarter
Accrued liabilities IncreaseDecreaseInAccruedLiabilities $-8.84M USD 1 Quarter
Income taxes payable IncreaseDecreaseInAccruedTaxesPayable $-2.49M USD 1 Quarter
Income taxes payable IncreaseDecreaseInAccruedTaxesPayable $-3.84M USD 1 Quarter
Contract receivables IncreaseDecreaseInContractReceivablesNet $3.92M USD 1 Quarter
Contract receivables IncreaseDecreaseInContractReceivablesNet - USD 1 Quarter
Other, net IncreaseDecreaseInOtherOperatingCapitalNet $700.00K USD 1 Quarter
Other, net IncreaseDecreaseInOtherOperatingCapitalNet $4.80M USD 1 Quarter
Net cash (used in)/provided by operating activities NetCashProvidedByUsedInOperatingActivitiesContinuingOperations $-4.57M USD 1 Quarter
Net cash (used in)/provided by operating activities NetCashProvidedByUsedInOperatingActivitiesContinuingOperations $5.38M USD 1 Quarter
Purchases of property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $7.99M USD 1 Quarter
Purchases of property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $25.05M USD 1 Quarter
Purchased software PaymentsToAcquireSoftware $82.00K USD 1 Quarter
Purchased software PaymentsToAcquireSoftware $38.00K USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivitiesContinuingOperations $-25.08M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivitiesContinuingOperations $-8.07M USD 1 Quarter
Proceeds from borrowings ProceedsFromIssuanceOfDebt $16.14M USD 1 Quarter
Proceeds from borrowings ProceedsFromIssuanceOfDebt $12.40M USD 1 Quarter
Principal payments on debt RepaymentsOfDebt $22.40M USD 1 Quarter
Principal payments on debt RepaymentsOfDebt $20.60M USD 1 Quarter
Debt acquisition costs PaymentsOfDebtExtinguishmentCosts $200.00K USD 1 Quarter
Debt acquisition costs PaymentsOfDebtExtinguishmentCosts - USD 1 Quarter
Taxes paid in lieu of share issuance ExcessTaxBenefitFromShareBasedCompensationFinancingActivities $-1.27M USD 1 Quarter
Taxes paid in lieu of share issuance ExcessTaxBenefitFromShareBasedCompensationFinancingActivities $-1.36M USD 1 Quarter
Proceeds from options exercised ProceedsFromStockOptionsExercised $75.00K USD 1 Quarter
Proceeds from options exercised ProceedsFromStockOptionsExercised $205.00K USD 1 Quarter
Dividends paid PaymentsOfDividends $5.44M USD 1 Quarter
Dividends paid PaymentsOfDividends $5.46M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivitiesContinuingOperations $-11.21M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivitiesContinuingOperations $-16.71M USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashAndCashEquivalents $2.45M USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashAndCashEquivalents $3.91M USD 1 Quarter
Decrease in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-15.50M USD 1 Quarter
Decrease in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-38.41M USD 1 Quarter
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $185.11M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $143.33M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $169.62M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $181.74M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $185.11M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $143.33M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $169.62M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $181.74M USD Point-in-time
Comprehensive Income 28 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $13.32M USD 1 Quarter
Net income ProfitLoss $10.97M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToParent $9.94M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToParent $12.74M USD 1 Quarter
Pension/postretirement plan remeasurement OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansNetUnamortizedGainLossArisingDuringPeriodBeforeTax $-170.00K USD 1 Quarter
Pension/postretirement plan remeasurement OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansNetUnamortizedGainLossArisingDuringPeriodBeforeTax - USD 1 Quarter
Prior service credit OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditBeforeTax $-1.11M USD 1 Quarter
Prior service credit OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditBeforeTax $-1.11M USD 1 Quarter
Net actuarial loss OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossBeforeTax $-1.35M USD 1 Quarter
Net actuarial loss OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossBeforeTax $-1.28M USD 1 Quarter
Payments related to interest rate swaps included in earnings OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesBeforeTax $-600.00K USD 1 Quarter
Payments related to interest rate swaps included in earnings OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesBeforeTax $-281.00K USD 1 Quarter
Derivative valuation adjustment OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax $416.00K USD 1 Quarter
Derivative valuation adjustment OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax $-2.85M USD 1 Quarter
Pension/postretirement plan remeasurement OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodTax $-65.00K USD 1 Quarter
Pension/postretirement plan remeasurement OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodTax - USD 1 Quarter
Amortization of pension liability adjustment OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansTax $49.00K USD 1 Quarter
Amortization of pension liability adjustment OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansTax $70.00K USD 1 Quarter
Payments related to interest rate swaps included in earnings OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesTax $-228.00K USD 1 Quarter
Payments related to interest rate swaps included in earnings OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesTax $-107.00K USD 1 Quarter
Derivative valuation adjustment OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax $-1.08M USD 1 Quarter
Derivative valuation adjustment OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax $158.00K USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $24.47M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $21.71M USD 1 Quarter
Comprehensive income/(loss) attributable to the noncontrolling interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $140.00K USD 1 Quarter
Comprehensive income/(loss) attributable to the noncontrolling interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $-188.00K USD 1 Quarter
Comprehensive income attributable to the Company ComprehensiveIncomeNetOfTax $21.57M USD 1 Quarter
Comprehensive income attributable to the Company ComprehensiveIncomeNetOfTax $24.66M USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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