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10-Q Filing

ALBANY INTERNATIONAL CORP /DE/ CIK: 819793 Q1 2019
Filing Information
Form Type 10-Q
Accession Number 0000891092-19-005173
Period End Date 20190331
Filing Date 20190501
Fiscal Year 2019
Fiscal Period Q1
XBRL Instance ain-20190331.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
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $151.43M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $197.75M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $183.73M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $187.38M 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
Accounts receivable, net AccountsReceivableNetCurrent $223.18M USD Point-in-time
Preferred Stock, shares issued PreferredStockSharesIssued 0.00 shares Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $234.13M USD Point-in-time
Preferred Stock, shares issued PreferredStockSharesIssued 0.00 shares Point-in-time
Contract assets ContractWithCustomerAssetNetCurrent $57.87M USD Point-in-time
Contract assets ContractWithCustomerAssetNetCurrent $57.45M USD Point-in-time
Inventories InventoryNet $85.90M USD Point-in-time
Inventories InventoryNet $102.38M USD Point-in-time
Income taxes prepaid and receivable DeferredIncomeTaxesAndOtherTaxReceivableCurrent $6.82M USD Point-in-time
Income taxes prepaid and receivable DeferredIncomeTaxesAndOtherTaxReceivableCurrent $7.47M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $23.70M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $21.29M USD Point-in-time
Total current assets AssetsCurrent $593.05M USD Point-in-time
Total current assets AssetsCurrent $612.27M USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $460.52M USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $462.06M USD Point-in-time
Intangibles, net IntangibleAssetsNetExcludingGoodwill $49.21M USD Point-in-time
Intangibles, net IntangibleAssetsNetExcludingGoodwill $47.65M USD Point-in-time
Goodwill Goodwill $164.38M USD Point-in-time
Goodwill Goodwill $163.44M USD Point-in-time
Deferred income taxes DeferredTaxAssetsNetNoncurrent $63.74M USD Point-in-time
Deferred income taxes DeferredTaxAssetsNetNoncurrent $62.62M USD Point-in-time
Noncurrent receivables AccountsReceivableNetNoncurrent $45.06M USD Point-in-time
Noncurrent receivables AccountsReceivableNetNoncurrent $45.35M USD Point-in-time
Other assets OtherAssetsNoncurrent $50.31M USD Point-in-time
Other assets OtherAssetsNoncurrent $41.62M USD Point-in-time
Total assets Assets $1.42B USD Point-in-time
Total assets Assets $1.44B USD Point-in-time
Accounts payable AccountsPayableCurrent $74.05M USD Point-in-time
Accounts payable AccountsPayableCurrent $52.25M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $122.34M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $129.03M USD Point-in-time
Current maturities of long-term debt LongTermDebtCurrent $1.22M USD Point-in-time
Current maturities of long-term debt LongTermDebtCurrent $19.00K USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $8.39M USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $6.81M USD Point-in-time
Total current liabilities LiabilitiesCurrent $189.31M USD Point-in-time
Total current liabilities LiabilitiesCurrent $204.80M USD Point-in-time
Long-term debt LongTermDebtNoncurrent $523.71M USD Point-in-time
Long-term debt LongTermDebtNoncurrent $491.02M USD Point-in-time
Other noncurrent liabilities OtherLiabilitiesNoncurrent $112.73M USD Point-in-time
Other noncurrent liabilities OtherLiabilitiesNoncurrent $88.28M USD Point-in-time
Deferred taxes and other liabilities DeferredIncomeTaxesAndOtherLiabilitiesNoncurrent $8.42M USD Point-in-time
Deferred taxes and other liabilities DeferredIncomeTaxesAndOtherLiabilitiesNoncurrent $8.33M USD Point-in-time
Total liabilities Liabilities $809.71M USD Point-in-time
Total liabilities Liabilities $816.87M 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 $430.05M USD Point-in-time
Additional paid in capital AdditionalPaidInCapital $430.56M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $589.64M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $613.06M USD Point-in-time
Translation adjustments AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax $-116.63M USD Point-in-time
Translation adjustments AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax $-115.98M USD Point-in-time
Pension and postretirement liability adjustments AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax $48.60M USD Point-in-time
Pension and postretirement liability adjustments AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax $47.11M USD Point-in-time
Derivative valuation adjustment AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax $4.70M USD Point-in-time
Derivative valuation adjustment AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax $1.85M USD Point-in-time
Treasury stock (Class A), at cost; 8,418,620 shares in 2019 and in 2018 TreasuryStockValue $256.60M USD Point-in-time
Treasury stock (Class A), at cost; 8,418,620 shares in 2019 and in 2018 TreasuryStockValue $256.60M USD Point-in-time
Total Company shareholders' equity StockholdersEquity $605.25M USD Point-in-time
Total Company shareholders' equity StockholdersEquity $623.17M USD Point-in-time
Noncontrolling interest MinorityInterest $3.24M USD Point-in-time
Noncontrolling interest MinorityInterest $3.03M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $608.28M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $592.58M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $57.30M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $626.41M USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $1.44B USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $1.42B USD Point-in-time
Income Statement 38 line items
Line Item Tag Value Unit Period
Net sales Revenues $251.37M USD 1 Quarter
Net sales Revenues $223.60M USD 1 Quarter
Cost of goods sold CostOfGoodsAndServicesSold $145.82M USD 1 Quarter
Cost of goods sold CostOfGoodsAndServicesSold $159.60M USD 1 Quarter
Gross profit GrossProfit $77.78M USD 1 Quarter
Gross profit GrossProfit $91.77M USD 1 Quarter
Selling, general, and administrative expenses SellingGeneralAndAdministrativeExpense $40.95M USD 1 Quarter
Selling, general, and administrative expenses SellingGeneralAndAdministrativeExpense $41.89M USD 1 Quarter
Technical and research expenses TechnicalProductEngineeringAndResearchExpenses $10.32M USD 1 Quarter
Technical and research expenses TechnicalProductEngineeringAndResearchExpenses $10.25M USD 1 Quarter
Restructuring expenses, net RestructuringCharges $8.57M USD 1 Quarter
Restructuring expenses, net RestructuringCharges $484.00K USD 1 Quarter
Operating income OperatingIncomeLoss $40.09M USD 1 Quarter
Operating income OperatingIncomeLoss $17.00M USD 1 Quarter
Interest expense, net InterestIncomeExpenseNet $-4.29M USD 1 Quarter
Interest expense, net InterestIncomeExpenseNet $-4.42M USD 1 Quarter
Other (income)/expense, net OtherNonoperatingIncomeExpense $1.21M USD 1 Quarter
Other (income)/expense, net OtherNonoperatingIncomeExpense $-1.45M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $36.88M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $11.26M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $3.37M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $7.48M USD 1 Quarter
Net income ProfitLoss $7.90M USD 1 Quarter
Net income ProfitLoss $29.41M USD 1 Quarter
Net income attributable to the noncontrolling interest NetIncomeLossAttributableToNoncontrollingInterest $237.00K USD 1 Quarter
Net income attributable to the noncontrolling interest NetIncomeLossAttributableToNoncontrollingInterest $218.00K USD 1 Quarter
Net income attributable to the Company NetIncomeLoss $29.19M USD 1 Quarter
Net income attributable to the Company NetIncomeLoss $7.66M USD 1 Quarter
Earnings per share attributable to Company shareholders - Basic EarningsPerShareBasic $0.90 USD 1 Quarter
Earnings per share attributable to Company shareholders - Basic EarningsPerShareBasic $0.24 USD 1 Quarter
Earnings per share attributable to Company shareholders - Diluted EarningsPerShareDiluted $0.90 USD 1 Quarter
Earnings per share attributable to Company shareholders - Diluted EarningsPerShareDiluted $0.24 USD 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 32.27M shares 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 32.22M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 32.24M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 32.28M shares 1 Quarter
Dividends declared per share, Class A and Class B CommonStockDividendsPerShareDeclared $0.18 USD 1 Quarter
Dividends declared per share, Class A and Class B CommonStockDividendsPerShareDeclared $0.17 USD 1 Quarter
Cash Flow Statement 71 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $7.90M USD 1 Quarter
Net income ProfitLoss $29.41M USD 1 Quarter
Depreciation Depreciation $15.64M USD 1 Quarter
Depreciation Depreciation $18.30M USD 1 Quarter
Amortization AdjustmentForAmortization $2.65M USD 1 Quarter
Amortization AdjustmentForAmortization $2.31M USD 1 Quarter
Change in deferred taxes and other liabilities ProvisionForDeferredIncomeTaxesOtherCreditsAndLongtermLiabilities $-2.03M USD 1 Quarter
Change in deferred taxes and other liabilities ProvisionForDeferredIncomeTaxesOtherCreditsAndLongtermLiabilities $-1.06M USD 1 Quarter
Provision for write-off of property, plant and equipment ImpairmentOfLongLivedAssetsHeldForUse $386.00K USD 1 Quarter
Provision for write-off of property, plant and equipment ImpairmentOfLongLivedAssetsHeldForUse $271.00K USD 1 Quarter
Non-cash interest expense OtherNoncashExpense $151.00K USD 1 Quarter
Non-cash interest expense OtherNoncashExpense - USD 1 Quarter
Compensation and benefits paid or payable in Class A Common Stock CompensationAndBenefitsPaidOrPayableInClassaCommonStock $-547.00K USD 1 Quarter
Compensation and benefits paid or payable in Class A Common Stock CompensationAndBenefitsPaidOrPayableInClassaCommonStock $289.00K USD 1 Quarter
Fair value adjustment on foreign currency option FairValueAdjustmentOnForeignCurrencyOption $37.00K USD 1 Quarter
Fair value adjustment on foreign currency option FairValueAdjustmentOnForeignCurrencyOption - USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $25.09M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $11.62M USD 1 Quarter
Contract assets IncreaseDecreaseInContractWithCustomerAsset $481.00K USD 1 Quarter
Contract assets IncreaseDecreaseInContractWithCustomerAsset $-2.12M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $11.75M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $16.66M USD 1 Quarter
Prepaid expenses and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $4.06M USD 1 Quarter
Prepaid expenses and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $2.80M USD 1 Quarter
Income taxes prepaid and receivable IncreaseDecreaseInIncomeTaxesReceivable $-102.00K USD 1 Quarter
Income taxes prepaid and receivable IncreaseDecreaseInIncomeTaxesReceivable $-674.00K USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $21.75M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $-2.54M USD 1 Quarter
Accrued liabilities IncreaseDecreaseInAccruedLiabilities $-1.23M USD 1 Quarter
Accrued liabilities IncreaseDecreaseInAccruedLiabilities $-11.10M USD 1 Quarter
Income taxes payable IncreaseDecreaseInAccruedTaxesPayable $-3.43M USD 1 Quarter
Income taxes payable IncreaseDecreaseInAccruedTaxesPayable $1.51M USD 1 Quarter
Noncurrent receivables IncreaseDecreaseInAccountsReceivableNetNoncurrent $2.53M USD 1 Quarter
Noncurrent receivables IncreaseDecreaseInAccountsReceivableNetNoncurrent $294.00K USD 1 Quarter
Other noncurrent liabilities ProvisionForNoncurrentLiabilities $-377.00K USD 1 Quarter
Other noncurrent liabilities ProvisionForNoncurrentLiabilities $-1.68M USD 1 Quarter
Other, net IncreaseDecreaseInOtherOperatingCapitalNet $-2.42M USD 1 Quarter
Other, net IncreaseDecreaseInOtherOperatingCapitalNet $1.01M USD 1 Quarter
Net cash provided by/(used in) operating activities NetCashProvidedByUsedInOperatingActivities $24.57M USD 1 Quarter
Net cash provided by/(used in) operating activities NetCashProvidedByUsedInOperatingActivities $-18.95M USD 1 Quarter
Purchases of property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $15.77M USD 1 Quarter
Purchases of property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $20.80M USD 1 Quarter
Purchased software PaymentsToAcquireSoftware $29.00K USD 1 Quarter
Purchased software PaymentsToAcquireSoftware $22.00K USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-15.80M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-20.82M USD 1 Quarter
Proceeds from borrowings ProceedsFromIssuanceOfDebt $13.01M USD 1 Quarter
Proceeds from borrowings ProceedsFromIssuanceOfDebt $20.00M USD 1 Quarter
Principal payments on debt RepaymentsOfDebt $8.49M USD 1 Quarter
Principal payments on debt RepaymentsOfDebt $28.00M USD 1 Quarter
Principal payments on finance lease liabilities FinanceLeasePrincipalPayments $400.00K USD 1 Quarter
Taxes paid in lieu of share issuance ExcessTaxBenefitFromShareBasedCompensationFinancingActivities $-971.00K USD 1 Quarter
Taxes paid in lieu of share issuance ExcessTaxBenefitFromShareBasedCompensationFinancingActivities $-1.65M USD 1 Quarter
Proceeds from options exercised ProceedsFromStockOptionsExercised $44.00K USD 1 Quarter
Proceeds from options exercised ProceedsFromStockOptionsExercised $147.00K USD 1 Quarter
Dividends paid PaymentsOfDividends $5.47M USD 1 Quarter
Dividends paid PaymentsOfDividends $5.81M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-2.46M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-15.14M 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 $1.02M USD 1 Quarter
Decrease in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-10.37M USD 1 Quarter
Decrease in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-32.30M USD 1 Quarter
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $151.43M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $197.75M 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 $187.38M 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 $197.75M 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 $187.38M USD Point-in-time
Comprehensive Income 24 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $7.90M USD 1 Quarter
Net income ProfitLoss $29.41M USD 1 Quarter
Foreign currency translation and other adjustments OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToParent $-2.15M USD 1 Quarter
Foreign currency translation and other adjustments OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToParent $17.50M USD 1 Quarter
Prior service credit OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditBeforeTax $-1.11M USD 1 Quarter
Prior service credit OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditBeforeTax $-1.10M USD 1 Quarter
Net actuarial loss OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossBeforeTax $-1.30M USD 1 Quarter
Net actuarial loss OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossBeforeTax $-1.12M USD 1 Quarter
Payments and amortization related to interest rate swaps included in earnings OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesBeforeTax $-180.00K USD 1 Quarter
Payments and amortization related to interest rate swaps included in earnings OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesBeforeTax $452.00K USD 1 Quarter
Derivative valuation adjustment OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax $5.71M USD 1 Quarter
Derivative valuation adjustment OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodBeforeTax $-3.38M USD 1 Quarter
Amortization of pension liability adjustment OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansTax $55.00K USD 1 Quarter
Amortization of pension liability adjustment OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansTax $5.00K USD 1 Quarter
Payments related to interest rate swaps included in earnings OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesTax $-43.00K USD 1 Quarter
Payments related to interest rate swaps included in earnings OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesTax $115.00K USD 1 Quarter
Derivative valuation adjustment OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax $1.37M USD 1 Quarter
Derivative valuation adjustment OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax $-863.00K USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $30.01M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $24.42M USD 1 Quarter
Comprehensive income/(loss) attributable to the noncontrolling interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $230.00K USD 1 Quarter
Comprehensive income/(loss) attributable to the noncontrolling interest ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $210.00K USD 1 Quarter
Comprehensive income attributable to the Company ComprehensiveIncomeNetOfTax $24.21M USD 1 Quarter
Comprehensive income attributable to the Company ComprehensiveIncomeNetOfTax $29.78M USD 1 Quarter

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

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