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10-Q Filing

ALBANY INTERNATIONAL CORP /DE/ CIK: 819793 Q1 2018
Filing Information
Form Type 10-Q
Accession Number 0000891092-18-004221
Period End Date 20180331
Filing Date 20180508
Fiscal Year 2018
Fiscal Period Q1
XBRL Instance ain-20180331.xml
Filing Contents
Balance Sheet 78 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 $143.33M USD Point-in-time
Preferred Stock, shares issued PreferredStockSharesIssued 0.00 shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $151.43M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $183.73M USD Point-in-time
Preferred Stock, shares issued PreferredStockSharesIssued 0.00 shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $181.74M USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $202.68M USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $248.54M USD Point-in-time
Contract assets ContractAssetsCurrent $42.90M USD Point-in-time
Contract assets ContractAssetsCurrent - USD Point-in-time
Inventories InventoryNet $100.03M USD Point-in-time
Inventories InventoryNet $136.52M USD Point-in-time
Income taxes prepaid and receivable DeferredIncomeTaxesAndOtherTaxReceivableCurrent $6.27M USD Point-in-time
Income taxes prepaid and receivable DeferredIncomeTaxesAndOtherTaxReceivableCurrent $6.13M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $14.52M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $18.68M USD Point-in-time
Total current assets AssetsCurrent $543.71M USD Point-in-time
Total current assets AssetsCurrent $567.70M USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $454.30M USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $459.39M USD Point-in-time
Intangibles, net IntangibleAssetsNetExcludingGoodwill $55.44M USD Point-in-time
Intangibles, net IntangibleAssetsNetExcludingGoodwill $53.88M USD Point-in-time
Goodwill Goodwill $168.31M USD Point-in-time
Goodwill Goodwill $166.80M USD Point-in-time
Deferred income taxes DeferredIncomeTaxesAndOtherTaxReceivableNoncurrent $70.17M USD Point-in-time
Deferred income taxes DeferredIncomeTaxesAndOtherTaxReceivableNoncurrent $68.65M USD Point-in-time
Noncurrent receivables ContractReceivablesNonCurrent $32.81M USD Point-in-time
Noncurrent receivables ContractReceivablesNonCurrent $35.34M USD Point-in-time
Other assets OtherAssetsNoncurrent $45.54M USD Point-in-time
Other assets OtherAssetsNoncurrent $39.49M USD Point-in-time
Total assets Assets $1.36B USD Point-in-time
Total assets Assets $1.40B USD Point-in-time
Notes and loans payable NotesAndLoansPayableCurrent $262.00K USD Point-in-time
Notes and loans payable NotesAndLoansPayableCurrent $226.00K USD Point-in-time
Accounts payable AccountsPayableCurrent $45.69M USD Point-in-time
Accounts payable AccountsPayableCurrent $44.90M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $122.10M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $105.91M USD Point-in-time
Current maturities of long-term debt LongTermDebtCurrent $1.80M USD Point-in-time
Current maturities of long-term debt LongTermDebtCurrent $1.82M USD Point-in-time
Income taxes payable IncomeTaxesPayableAndDeferred $5.18M USD Point-in-time
Income taxes payable IncomeTaxesPayableAndDeferred $8.64M USD Point-in-time
Total current liabilities LiabilitiesCurrent $161.52M USD Point-in-time
Total current liabilities LiabilitiesCurrent $175.03M USD Point-in-time
Long-term debt LongTermDebtNoncurrent $518.66M USD Point-in-time
Long-term debt LongTermDebtNoncurrent $514.12M USD Point-in-time
Other noncurrent liabilities OtherLiabilitiesNoncurrent $100.17M USD Point-in-time
Other noncurrent liabilities OtherLiabilitiesNoncurrent $101.56M USD Point-in-time
Deferred taxes and other liabilities DeferredIncomeTaxesAndOtherLiabilitiesNoncurrent $11.34M USD Point-in-time
Deferred taxes and other liabilities DeferredIncomeTaxesAndOtherLiabilitiesNoncurrent $10.99M USD Point-in-time
Total liabilities Liabilities $788.18M USD Point-in-time
Total liabilities Liabilities $805.19M 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 $428.86M USD Point-in-time
Additional paid in capital AdditionalPaidInCapital $428.42M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $533.76M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $534.08M USD Point-in-time
Translation adjustments AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax $-69.67M USD Point-in-time
Translation adjustments AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax $-87.32M USD Point-in-time
Pension and postretirement liability adjustments AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax $50.54M USD Point-in-time
Pension and postretirement liability adjustments AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax $50.55M USD Point-in-time
Derivative valuation adjustment AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax $1.95M USD Point-in-time
Derivative valuation adjustment AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax $6.43M USD Point-in-time
Treasury stock (Class A), at cost 8,431,335 shares in 2018 and 2017 TreasuryStockValue $256.88M USD Point-in-time
Treasury stock (Class A), at cost 8,431,335 shares in 2018 and 2017 TreasuryStockValue $256.88M USD Point-in-time
Total Company shareholders' equity StockholdersEquity $591.99M USD Point-in-time
Total Company shareholders' equity StockholdersEquity $569.77M USD Point-in-time
Noncontrolling interest MinorityInterest $3.15M USD Point-in-time
Noncontrolling interest MinorityInterest $3.25M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $573.01M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $595.14M USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $1.36B USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $1.40B 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 $229.98M USD 1 Quarter
Cost of goods sold CostOfGoodsAndServicesSold $123.25M USD 1 Quarter
Cost of goods sold CostOfGoodsAndServicesSold $148.33M USD 1 Quarter
Gross profit GrossProfit $76.03M USD 1 Quarter
Gross profit GrossProfit $81.65M USD 1 Quarter
Selling, general, and administrative expenses SellingGeneralAndAdministrativeExpense $41.93M USD 1 Quarter
Selling, general, and administrative expenses SellingGeneralAndAdministrativeExpense $40.41M USD 1 Quarter
Technical and research expenses TechnicalProductEngineeringAndResearchExpenses $10.26M USD 1 Quarter
Technical and research expenses TechnicalProductEngineeringAndResearchExpenses $10.32M USD 1 Quarter
Restructuring expenses, net RestructuringCharges $8.57M USD 1 Quarter
Restructuring expenses, net RestructuringCharges $2.68M USD 1 Quarter
Operating income OperatingIncomeLoss $20.83M USD 1 Quarter
Operating income OperatingIncomeLoss $22.68M USD 1 Quarter
Interest expense, net InterestIncomeExpenseNet $-4.29M USD 1 Quarter
Interest expense, net InterestIncomeExpenseNet $-4.33M USD 1 Quarter
Other expense, net OtherNonoperatingIncomeExpense $-826.00K USD 1 Quarter
Other expense, net OtherNonoperatingIncomeExpense $-1.45M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $17.52M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $15.09M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $6.55M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $4.61M USD 1 Quarter
Net income ProfitLoss $10.48M USD 1 Quarter
Net income ProfitLoss $10.97M USD 1 Quarter
Net income attributable to the noncontrolling interest NetIncomeLossAttributableToNoncontrollingInterest $135.00K USD 1 Quarter
Net income attributable to the noncontrolling interest NetIncomeLossAttributableToNoncontrollingInterest $237.00K USD 1 Quarter
Net income attributable to the Company NetIncomeLoss $10.84M USD 1 Quarter
Net income attributable to the Company NetIncomeLoss $10.24M USD 1 Quarter
Earnings per share attributable to Company shareholders - Basic EarningsPerShareBasic $0.32 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 $0.34 USD 1 Quarter
Earnings per share attributable to Company shareholders - Diluted EarningsPerShareDiluted $0.32 USD 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 32.22M shares 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 32.13M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 32.16M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 32.24M 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 70 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $10.48M USD 1 Quarter
Net income ProfitLoss $10.97M USD 1 Quarter
Depreciation Depreciation $18.30M USD 1 Quarter
Depreciation Depreciation $14.64M USD 1 Quarter
Amortization AdjustmentForAmortization $2.65M 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 $-377.00K USD 1 Quarter
Change in deferred taxes and other liabilities ProvisionForDeferredIncomeTaxesOtherCreditsAndLongtermLiabilities $-784.00K USD 1 Quarter
Change in deferred taxes and other liabilities ProvisionForDeferredIncomeTaxesOtherCreditsAndLongtermLiabilities $-612.00K USD 1 Quarter
Provision for write-off of property, plant and equipment ImpairmentOfLongLivedAssetsHeldForUse $296.00K USD 1 Quarter
Provision for write-off of property, plant and equipment ImpairmentOfLongLivedAssetsHeldForUse $271.00K 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 $289.00K USD 1 Quarter
Compensation and benefits paid or payable in Class A Common Stock RestrictedStockExpense $989.00K USD 1 Quarter
Fair value adjustment on foreign currency option FairValueAdjustmentOnForeignCurrencyOption $37.00K USD 1 Quarter
Fair value adjustment on foreign currency option FairValueAdjustmentOnForeignCurrencyOption $54.00K USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $31.47M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $741.00K USD 1 Quarter
Contract assets IncreaseDecreaseInContractAssets $-2.12M USD 1 Quarter
Contract assets IncreaseDecreaseInContractAssets - USD 1 Quarter
Inventories IncreaseDecreaseInInventories $9.24M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $14.92M USD 1 Quarter
Prepaid expenses and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $1.92M USD 1 Quarter
Prepaid expenses and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $4.06M USD 1 Quarter
Income taxes prepaid and receivable IncreaseDecreaseInIncomeTaxesReceivable - USD 1 Quarter
Income taxes prepaid and receivable IncreaseDecreaseInIncomeTaxesReceivable $-102.00K USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $3.52M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $-2.54M USD 1 Quarter
Accrued liabilities IncreaseDecreaseInAccruedLiabilities $-1.19M USD 1 Quarter
Accrued liabilities IncreaseDecreaseInAccruedLiabilities $-10.97M USD 1 Quarter
Income taxes payable IncreaseDecreaseInAccruedTaxesPayable $-2.49M USD 1 Quarter
Income taxes payable IncreaseDecreaseInAccruedTaxesPayable $-3.43M USD 1 Quarter
Noncurrent receivables IncreaseDecreaseInContractReceivablesNet $-2.53M USD 1 Quarter
Noncurrent receivables IncreaseDecreaseInContractReceivablesNet $3.92M USD 1 Quarter
Other, net IncreaseDecreaseInOtherOperatingCapitalNet $754.00K USD 1 Quarter
Other, net IncreaseDecreaseInOtherOperatingCapitalNet $2.63M USD 1 Quarter
Net cash used in operating activities NetCashProvidedByUsedInOperatingActivities $-18.95M USD 1 Quarter
Net cash used in operating activities NetCashProvidedByUsedInOperatingActivities $-4.57M USD 1 Quarter
Purchases of property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $15.77M USD 1 Quarter
Purchases of property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $25.05M USD 1 Quarter
Purchased software PaymentsToAcquireSoftware $38.00K USD 1 Quarter
Purchased software PaymentsToAcquireSoftware $29.00K USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-25.08M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-15.80M USD 1 Quarter
Proceeds from borrowings ProceedsFromIssuanceOfDebt $16.14M USD 1 Quarter
Proceeds from borrowings ProceedsFromIssuanceOfDebt $13.01M USD 1 Quarter
Principal payments on debt RepaymentsOfDebt $20.60M USD 1 Quarter
Principal payments on debt RepaymentsOfDebt $8.49M USD 1 Quarter
Taxes paid in lieu of share issuance ExcessTaxBenefitFromShareBasedCompensationFinancingActivities $-1.65M USD 1 Quarter
Taxes paid in lieu of share issuance ExcessTaxBenefitFromShareBasedCompensationFinancingActivities $-1.36M USD 1 Quarter
Proceeds from options exercised ProceedsFromStockOptionsExercised $147.00K USD 1 Quarter
Proceeds from options exercised ProceedsFromStockOptionsExercised $75.00K USD 1 Quarter
Dividends paid PaymentsOfDividends $5.46M USD 1 Quarter
Dividends paid PaymentsOfDividends $5.47M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-2.46M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-11.21M USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashAndCashEquivalents $4.90M USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashAndCashEquivalents $2.45M USD 1 Quarter
Decrease in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-38.41M USD 1 Quarter
Decrease in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-32.30M USD 1 Quarter
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $143.33M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $151.43M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $183.73M 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 $143.33M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $151.43M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $183.73M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $181.74M USD Point-in-time
Comprehensive Income 24 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $10.48M USD 1 Quarter
Net income ProfitLoss $10.97M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToParent $17.50M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToParent $9.94M 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 $-1.30M USD 1 Quarter
Payments related to interest rate swaps included in earnings OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesBeforeTax $-180.00K USD 1 Quarter
Payments related to interest rate swaps included in earnings OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesBeforeTax $-600.00K USD 1 Quarter
Derivative valuation adjustment OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax $416.00K USD 1 Quarter
Derivative valuation adjustment OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax $5.71M USD 1 Quarter
Amortization of pension liability adjustment OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansTax $70.00K USD 1 Quarter
Amortization of pension liability adjustment OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansTax $55.00K 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 $-43.00K USD 1 Quarter
Derivative valuation adjustment OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax $158.00K USD 1 Quarter
Derivative valuation adjustment OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax $1.37M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $21.71M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $32.59M USD 1 Quarter
Comprehensive income attributable to the noncontrolling interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $140.00K USD 1 Quarter
Comprehensive income attributable to the noncontrolling interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $230.00K USD 1 Quarter
Comprehensive income attributable to the Company ComprehensiveIncomeNetOfTax $32.37M USD 1 Quarter
Comprehensive income attributable to the Company ComprehensiveIncomeNetOfTax $21.57M USD 1 Quarter

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

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