Albany International Corporation (AIN) Financial Statements (2023 and earlier)
Company Profile
| Business Address |
216 AIRPORT DRIVE ROCHESTER, NH 03867 |
| State of Incorp. | DE |
| Fiscal Year End | December 31 |
| Industry (SIC) | 2221 - Broadwoven Fabric Mills, Manmade Fiber and Silk (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 6/30/2023 MRQ | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 291,776 | 302,036 | 241,316 | 195,540 | 197,755 | 183,727 | |||
| Cash and cash equivalents | 291,776 | 302,036 | 241,316 | 195,540 | 197,755 | 183,727 | |||
| Receivables | 200,018 | 191,985 | 189,129 | 220,034 | 225,790 | 204,069 | |||
| Inventory, net of allowances, customer advances and progress billings | 139,050 | 117,882 | 110,478 | 95,149 | 85,904 | 136,519 | |||
| Inventory | 139,050 | 117,882 | 110,478 | 95,149 | 85,904 | 136,519 | |||
| Prepaid expense | 5,234 | 4,399 | 4,859 | 4,872 | |||||
| Contract with customer, asset, after allowance for credit loss | 148,695 | 112,546 | 139,289 | 79,070 | 57,447 | ✕ | |||
| Other undisclosed current assets | 58,900 | 34,352 | 31,830 | 24,142 | 21,294 | 14,520 | |||
| Total current assets: | 838,439 | 758,801 | 717,276 | 618,334 | 593,049 | 543,707 | |||
| Noncurrent Assets | |||||||||
| Finance lease, right-of-use asset, after accumulated amortization | 7,979 | 8,976 | 15,689 | ✕ | ✕ | ||||
| Operating lease, right-of-use asset | 48,475 | 14,366 | 17,712 | 18,223 | ✕ | ✕ | |||
| Property, plant and equipment | 466,462 | 462,055 | 454,302 | ||||||
| Long-term investments and receivables | 27,913 | 31,849 | 36,265 | 41,234 | 45,061 | ||||
| Accounts and financing receivable, after allowance for credit loss | 27,913 | 31,849 | 36,265 | 41,234 | 45,061 | ||||
| Intangible assets, net (including goodwill) | 212,028 | 221,205 | 234,422 | 233,826 | 213,588 | 222,237 | |||
| Goodwill | 178,217 | 182,124 | 187,553 | 180,934 | 164,382 | 166,796 | |||
| Intangible assets, net (excluding goodwill) | 33,811 | 39,081 | 46,869 | 52,892 | 49,206 | 55,441 | |||
| Deferred income tax assets | 15,196 | 26,376 | 38,757 | ✕ | ✕ | ||||
| Other noncurrent assets | 103,021 | 81,416 | 74,662 | 62,891 | 41,617 | 39,493 | |||
| Other undisclosed noncurrent assets | 397,183 | 414,072 | 421,866 | 17,709 | 62,622 | 101,459 | |||
| Total noncurrent assets: | 803,816 | 797,263 | 832,660 | 856,034 | 824,943 | 817,491 | |||
| TOTAL ASSETS: | 1,642,255 | 1,556,064 | 1,549,936 | 1,474,368 | 1,417,992 | 1,361,198 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 196,092 | 208,166 | 190,854 | 191,088 | 181,276 | 150,813 | |||
| Taxes payable | ✕ | ✕ | 14,887 | 16,222 | |||||
| Accounts payable | 69,707 | 68,954 | 49,173 | 65,203 | 52,246 | 44,899 | |||
| Accrued liabilities | 126,385 | 124,325 | 125,459 | 125,885 | 129,030 | 105,914 | |||
| Deferred revenue | 15,176 | 5,656 | ✕ | ✕ | |||||
| Debt | 9 | 20 | 1,224 | 1,799 | |||||
| Other undisclosed current liabilities | 48 | 5,955 | 6,806 | 8,905 | |||||
| Total current liabilities: | 211,316 | 208,166 | 190,863 | 202,719 | 189,306 | 161,517 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 439,000 | 350,000 | 398,000 | 424,009 | 523,707 | 514,120 | |||
| Long-term debt, excluding current maturities | 439,000 | 350,000 | 398,000 | 424,009 | 523,707 | 514,120 | |||
| Liabilities, other than long-term debt | 108,758 | 107,894 | 139,942 | 132,725 | 95,824 | 112,546 | |||
| Deferred revenue and credits | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 1,418 | ||
| Deferred tax liabilities, net | ✕ | ✕ | ✕ | ✕ | ✕ | 7,547 | 9,573 | ||
| Deferred income tax liabilities | 9,518 | ✕ | ✕ | ||||||
| Restructuring reserve | 100 | ||||||||
| Other liabilities | 108,758 | 107,794 | 130,424 | 132,725 | 88,277 | 101,555 | |||
| Other undisclosed noncurrent liabilities | 15,638 | 12,399 | 1,266 | 12,226 | 875 | ||||
| Total noncurrent liabilities: | 563,396 | 470,293 | 539,208 | 568,960 | 620,406 | 626,666 | |||
| Total liabilities: | 774,712 | 678,459 | 730,071 | 771,679 | 809,712 | 788,183 | |||
| Equity | |||||||||
| Equity, attributable to parent, including: | 863,049 | 873,967 | 816,066 | 698,683 | 605,249 | 569,768 | |||
| Treasury stock, value | (364,923) | (280,143) | (256,009) | (256,391) | (256,603) | (256,876) | |||
| Additional paid in capital | 441,540 | 436,996 | 433,696 | 432,518 | 430,555 | 428,423 | |||
| Accumulated other comprehensive loss | (144,927) | (145,984) | (132,408) | (175,981) | (158,388) | (135,901) | |||
| Retained earnings | 931,318 | 863,057 | 770,746 | 698,496 | 589,645 | 534,082 | |||
| Other undisclosed equity, attributable to parent | 41 | 41 | 41 | 41 | 40 | 40 | |||
| Equity, attributable to noncontrolling interest | 4,494 | 3,638 | 3,799 | 4,006 | 3,031 | 3,247 | |||
| Total equity: | 867,543 | 877,605 | 819,865 | 702,689 | 608,280 | 573,015 | |||
| TOTAL LIABILITIES AND EQUITY: | 1,642,255 | 1,556,064 | 1,549,936 | 1,474,368 | 1,417,992 | 1,361,198 | |||
Income Statement (P&L) ($ in thousands)
| 6/30/2023 TTM | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 1,034,887 | 929,240 | 900,610 | 1,054,132 | 982,479 | 863,717 | ||
| Cost of revenue (Cost of Goods and Services Sold) | (645,105) | (550,849) | (529,538) | (656,431) | (632,730) | (567,937) | ||
| Gross profit: | 389,782 | 378,391 | 371,072 | 397,701 | 349,749 | 295,780 | ||
| Operating expenses | (168,819) | (161,458) | (169,645) | (166,556) | (156,189) | (178,455) | ||
| Other undisclosed operating loss | (39,941) | (38,922) | (35,347) | (37,569) | (56,152) | (41,174) | ||
| Operating income: | 181,022 | 178,011 | 166,080 | 193,576 | 137,408 | 76,151 | ||
| Nonoperating income (expense) | 17,921 | (521) | (26,118) | 7,476 | (1,578) | (11,602) | ||
| Investment income, nonoperating | 3,835 | 2,500 | 2,748 | 2,729 | 2,118 | 1,511 | ||
| Gain (loss), foreign currency transaction, before tax | (15,444) | 3,190 | 341 | (8,761) | ||||
| Other nonoperating income (expense) | 14,086 | (3,021) | (13,422) | 1,557 | (4,037) | (4,352) | ||
| Interest and debt expense | (17,835) | (17,391) | (16,332) | (19,650) | (20,242) | (18,602) | ||
| Other undisclosed income (loss) from continuing operations before equity method investments, income taxes | 15,444 | (3,190) | (341) | 8,761 | ||||
| Income from continuing operations before equity method investments, income taxes: | 181,108 | 160,099 | 139,074 | 178,212 | 115,247 | 54,708 | ||
| Other undisclosed income (loss) from continuing operations before income taxes | (49,128) | 5,832 | ||||||
| Income from continuing operations before income taxes: | 131,980 | 165,931 | 139,074 | 178,212 | 115,247 | 54,708 | ||
| Income tax expense | (35,472) | (47,163) | (41,831) | (44,829) | (32,228) | (22,123) | ||
| Income from continuing operations: | 96,508 | 118,768 | 97,243 | 133,383 | 83,019 | 32,585 | ||
| Income before gain (loss) on sale of properties: | ✕ | 118,768 | 97,243 | 133,383 | 83,019 | 32,585 | ||
| Net income: | 96,508 | 118,768 | 97,243 | 133,383 | 83,019 | 32,585 | ||
| Net income (loss) attributable to noncontrolling interest | (746) | (290) | 1,346 | (985) | (128) | 526 | ||
| Net income available to common stockholders, diluted: | 95,762 | 118,478 | 98,589 | 132,398 | 82,891 | 33,111 | ||
Comprehensive Income ($ in thousands)
| 6/30/2023 TTM | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Net income: | 96,508 | 118,768 | 97,243 | 133,383 | 83,019 | 32,585 | ||
| Other comprehensive income (loss) | (19,950) | (698) | 11,055 | (17,593) | (22,487) | 48,288 | ||
| Other undisclosed comprehensive income (loss) | 21,007 | (12,878) | 32,518 | |||||
| Comprehensive income: | 97,565 | 105,192 | 140,816 | 115,790 | 60,532 | 80,873 | ||
| Comprehensive income (loss), net of tax, attributable to noncontrolling interest | (856) | 161 | 207 | (975) | (111) | 520 | ||
| Comprehensive income, net of tax, attributable to parent: | 96,709 | 105,353 | 141,023 | 114,815 | 60,421 | 81,393 | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.